CRWD.US: Cloud-native endpoint + platform expansion

Snapshot

Price

USD 191

Mkt cap

USD 194.0B

Revenue

USD 4.0B

ARR (approx)

USD 4.2B

Thesis

CrowdStrike Falcon cloud-native endpoint/XDR with module cross-sell; incident reputation and multiple volatility drive trading.

Business

Model: cloud security subscription. Flagships: endpoint; identity/cloud modules; hunting. Edge: lightweight agent + cloud AI; brand. Strategy: module expansion + intl.

Value chain

App-layer security; upstream cloud regions/intel; downstream SOCs. Risks: outage/false-positive events; region dependence; talent war.

Valuation

High-growth cyber multiple; very sensitive to deceleration.

Financial trend (~24 months)

Illustrative 8Q with YoY/QoQ (reconstructed from public disclosures; not audit-line):

Revenue · last 8Q

Interactive chart available in the reader.

Gross margin · last 8Q

Interactive chart available in the reader.

Operations

Volume: endpoints/modules; price: module ASP; cost: cloud COGS + S&M.

Key financials

Key financials

Item	Value	YoY	Note
ARR (approx)	~$4B+	+20%+	Subscription
Gross margin	~75-80%	—	SaaS
Module attach	Rising	—	Platform story
NRR	High	—	Land-expand

Competition

Peer strengths/weaknesses:

Peer map

Peer map

Company	Share/role	Margin	Strength	Weakness
CrowdStrike (self)	Endpoint/XDR	~78% GM	Cloud-native brand	Outage sensitivity
Microsoft Defender	Suite attach	Bundle	Distribution	Best-of-breed fight
Palo Alto	Platform	High	Broader stack	Endpoint share
SentinelOne	Endpoint peer	High GM	AI messaging	Scale gap

Management

Management (24m)

Management (24m)

Role	Name	Since	24m change
CEO	George Kurtz	co-founder	No material change
CFO	Burt Podbere	long-tenured	No material change
President / field	Field leadership	ongoing	Normal rotations

Stability: Steady founder-CEO.

Outlook

Track net-new ARR, module attach, renewals, platform reliability events.

Scenarios

Risks

Not investment advice; defer to latest company filings.