CrowdStrike Holdings (CRWD) 10-K risk factor changes: FY2022 vs FY2021

For example, our headcount grew from [removed: 324] [added: 2,309] employees as of January 31, [removed: 2016] [added: 2020,] to [removed: 3,394] [added: 4,965] employees as of January 31, [removed: 2021.][added: 2022.]

Although we have experienced rapid growth historically, we may not sustain our current growth [removed: rates, nor can we assure you that] [added: rates and] our investments to support our growth [removed: will] [added: may not] be successful.

We experienced net losses of [removed: $140.1] [added: $234.8] million, [removed: $141.8] [added: $92.6] million, and [removed: $92.6] [added: $141.8] million for fiscal [removed: 2019,] [added: 2022,] fiscal [removed: 2020,] [added: 2021,] and fiscal [removed: 2021,] [added: 2020,] respectively.

As of January 31, [removed: 2021,] [added: 2022,] we had an accumulated deficit of [removed: $730.1] [added: $964.9] million.

[removed: While we have experienced] significant growth in revenue in recent periods, we cannot assure you when or whether we will reach or maintain profitability.

[removed: In addition to the anticipated costs to grow our business, we] [added: We also] have incurred and expect to continue to incur significant additional legal, accounting, and other expenses as a [removed: newly] public company.

These precautionary measures could negatively affect our customer success efforts, delay and lengthen our sales cycles, impact our sales and marketing efforts, reduce employee efficiency and productivity, [added: increase employee attrition,] slow our international expansion efforts, increase cybersecurity risks, and create operational or other challenges, any of which could harm our business and results of operations.

For example, any deterioration in general economic conditions, including a downturn due to the outbreak of diseases such as COVID-19, may cause our current and prospective customers to [added: cut their overall security and IT operations spending, and such cuts may fall disproportionately on cloud-based security solutions like ours.]

The market for security and IT operations solutions is intensely competitive, fragmented, and characterized by rapid changes in technology, customer requirements, industry standards, increasingly sophisticated attackers, and by frequent [removed: introductions of new or improved products to combat security threats.]

- legacy antivirus product providers, such as [removed: McAfee, LLC,] [added: Trellix (formerly McAfee Enterprise),] Broadcom Inc.’s Symantec Enterprise division, and Microsoft Corporation, who offer a broad range of approaches and solutions including traditional [removed: antivirus and] signature-based [added: anti-virus] protection;

- alternative endpoint security providers, such as Blackberry Cylance, VMware Carbon Black and SentinelOne, who [added: generally] offer [removed: point] [added: a mix of on-premise and cloud-hosted] products [removed: based] [added: that rely heavily] on malware-only or application whitelisting techniques; [removed: and]

- network security vendors, such as Palo Alto Networks, [removed: Inc. and FireEye,] Inc., who are supplementing their core perimeter-based offerings with endpoint security [removed: solutions.][added: solutions; and]

Many of [removed: these] [added: our] competitors have greater financial, technical, marketing, sales, and other resources, greater name recognition, longer operating histories, and a larger base of customers than we do.

Further, they may have greater resources for research and development of new technologies, the provision of customer support, and the pursuit of [removed: acquisitions, or they may have other financial, technical, or other resource advantages.][added: acquisitions.]

Further, [removed: many] competitors that specialize in providing protection from a single type of security threat may be able to deliver these targeted security products to the market quicker than we can or convince organizations that these limited products meet their needs.

Furthermore, even if the functionality offered by other security and IT operations providers is [removed: different and] more limited than the functionality of our platform, organizations may elect to accept such limited functionality in lieu of adding products from additional vendors like us.

[removed: Competition continues to increase in the] [added: The cybersecurity] market [removed: segments in which we operate,] [added: remains very competitive,] and [removed: we expect] competition [removed: to] [added: may] further increase in the future.

[removed: Larger competitors with more diverse product and service offerings] [added: Competitors] may reduce the price of products or subscriptions that compete with ours or may bundle them with other products and subscriptions.

Due to a variety of both internal and external factors, including, without limitation, defects or misconfigurations of our solutions, our solutions could [added: be or] become vulnerable to security incidents (both from intentional attacks and accidental causes) that cause them to fail to secure endpoints and detect and block attacks.

Moreover, as our cloud native security platform is adopted by an increasing number of enterprises and governments, [removed: it is possible that the] individuals and organizations behind advanced cyberattacks [removed: will begin to focus on finding ways] [added: may intensify their efforts] to defeat our security platform.

It is virtually impossible for us to entirely eliminate the risk of such [added: attacks,] compromises, interruptions in service, or other security incidents affecting our internal systems or data, or that of our third-party service providers and vendors.

As a result, we may be unable to anticipate these techniques or implement adequate measures to prevent an intrusion into our networks, which could result in unauthorized access to customer data, intellectual property including access to our source code, and information about vulnerabilities in our product, which in turn, could reduce the effectiveness of our solutions, or lead to cyberattacks or other intrusions of our customers’ networks, litigation, governmental audits and investigations and significant legal fees, [removed: and] [added: any] or all of which could damage our relationships with our existing customers and could have a negative effect on our ability to attract and retain new customers.

We have expended, and anticipate continuing to expend, significant [removed: amounts and] resources in an effort to prevent security breaches and other security incidents impacting our systems and data.

Since our business is focused on providing reliable security services to our customers, we believe that an actual or perceived security incident [removed: affecting,] [added: affecting] our internal [added: systems or data or data of our customers would be especially detrimental to our reputation, customer confidence in our solution, and our business.]

Our business would also be harmed if our customers believe that a cloud-based SaaS-delivered endpoint [added: security solution is unreliable.]

[removed: Our results of operations have varied significantly from period to period, and we expect that] our results of operations will continue to vary as a result of a number of factors, many of which are outside of our control and may be difficult to predict, including:

Competition for these personnel [removed: in the San Francisco Bay Area, where our headquarters are located, and in other locations where we maintain offices,] is intense, especially for experienced sales professionals and for engineers experienced in designing and developing cloud applications and security software.

[removed: For example, in recent years, recruiting, hiring and retaining employees] with expertise in the cybersecurity industry has become increasingly difficult as the demand for cybersecurity professionals has increased as a result of the recent cybersecurity attacks on global corporations and governments.

To the extent potential customers, industry analysts or testing firms believe that the occurrence of a failure to detect or prevent any [added: particular threat is a flaw or indicates that our solutions or services do not provide significant value, we may lose customers, and our reputation, financial condition and business would be harmed.]

In addition, we have in the past worked, and continue to work, with high profile [added: private and public] customers as well as assist in analyzing and remediating high profile [removed: cyberattacks.][added: cyberattacks, which sometimes involve nation-state actors.]

U.S. federal, state and local government sales [added: as well as foreign government sales] are subject to a number of challenges and risks that may adversely impact our business.

Sales to such government entities [removed: include] [added: include, but are not limited to,] the following risks:

For example, although we are currently certified under the [added: U.S.] Federal Risk and Authorization Management Program, or FedRAMP, such certification is costly to maintain and if we [removed: lost] [added: lose] our certification [removed: in the future] it would restrict our ability to sell to government customers;

- government demand and payment for our Falcon platform may be impacted by public sector budgetary cycles and funding authorizations, with funding reductions or delays [added: in the government appropriations or procurement processes] adversely affecting public sector demand for our Falcon [removed: platform;][added: platform, including as a result of abrupt events such as war, incidents of terrorism, natural disasters, and public health concerns or epidemics;]

The occurrence of any of the foregoing [added: risks] could cause governments and governmental agencies to delay or refrain from purchasing our solutions in the future or otherwise have an adverse effect on our business and results of operations.

In addition, we may be required to re-invest any cost savings achieved from prior cloud infrastructure improvements in future infrastructure [removed: projects to maintain the levels of service required by our customers.]

If we engage in additional debt financing, the holders of such debt would have priority over the holders of our Class A common [added: stock, and we may be required to accept terms that further restrict our operations or our ability to incur additional indebtedness or to take other actions that would otherwise be in the interests of the debt holders.]

We derived approximately [removed: 23%, 26%,] [added: 28%, 28%,] and [removed: 28%] [added: 26%] of our total revenue from our international customers for fiscal [removed: 2019, fiscal 2020,] [added: 2022,] fiscal 2021, [added: fiscal 2020,] respectively.

- compliance with anti-bribery laws, including, without limitation, compliance with the U.S. Foreign Corrupt Practices Act of 1977, as amended, or [removed: FCPA] [added: FCPA,] the U.S. Travel Act and the UK Bribery Act 2010, or Bribery Act, violations of which could lead to significant fines, penalties, and collateral consequences for our company;

In addition, an increasing portion of our operating expenses is incurred outside the United States, is denominated in foreign currencies, such as the [removed: British Pound, Indian Rupee, Euro,] Australian Dollar, [removed: and] [added: British Pound,] Canadian Dollar, [added: Euro,] and [added: Indian Rupee,] is subject to fluctuations due to changes in foreign currency exchange rates.

- If we are unable to successfully enhance our existing products and services and introduce new products and services in response to rapid technological changes and market developments as well as evolving security threats, our competitive position and prospects will be harmed.

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- We rely on our key technical, sales and management personnel to grow our business, and the loss of one or more key employees could harm our business.

- If we are unable to attract and retain qualified personnel, our business could be harmed.

While we have experienced

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The COVID-19 pandemic continues to impact worldwide economic activity and financial markets.

As we monitor the situation, taking into account uncertainties with respect to vaccination progress, disease variants and the efficacy of vaccines and treatments relating to such variants, infection rates and evolving public health guidance at local, state and country levels, planning and risk management relating to our work policies and office operations will require time from management and other employees, which may reduce the amount of time available for other initiatives.

If we are unable to successfully enhance our existing products and services and introduce new products and services in response to rapid technological changes and market developments as well as evolving security threats, our competitive position and prospects will be harmed.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

Our ability to increase revenue from existing customers and attract new customers will depend in significant part on our ability to anticipate and respond effectively to rapid technological changes and market developments as well as evolving security threats.

The success of our Falcon platform depends on our ability to take such changes into account and invest effectively in our research and development organization to increase the reliability, availability and scalability of our existing solutions and introduce new solutions.

If we fail to effectively anticipate, identify or respond to such changes in a timely manner, or at all, our business could be harmed.

Even if we adequately fund our research and development efforts there is no guarantee that we will realize a return on such efforts.

Success in delivering enhancements and new solutions depends on several factors, including the timely completion, introduction and market acceptance of the enhancement or new solution, the risk that such enhancement or new solution may have quality or other defects or deficiencies, especially in the early stages of introduction, as well as our ability to seamlessly integrate all of our product and service offerings and develop adequate sales capabilities in new markets.

Failure in this regard may erode our competitive position, significantly impair our revenue growth, and negatively impact our operating results.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

introductions of new or improved products to combat security threats.

- professional service providers, such as Mandiant and Microsoft Corporation, who offer cybersecurity response services.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

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Such efforts may also intensify if geopolitical tensions increase.

We also utilize third-party service providers to host, transmit, or otherwise process electronic data in connection with our business activities, including our supply chain, operations, and communications.

Our third-party service providers and other vendors have faced and may continue to face cyberattacks, compromises, interruptions in service, or other security incidents from a variety of sources.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

Leadership transitions can be inherently difficult to manage.

In particular, they can cause operational and administrative inefficiencies, and could impact relationships with key customers and vendors.

For example, in recent years, recruiting, hiring and retaining employees

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

More generally, the technology industry is subject to substantial and continuous competition for engineers with high levels of experience in designing, developing and managing software and Internet-related services.

Our results of operations have varied significantly from period to period, and we expect that

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Changing political environments in the United States and abroad may amplify the media and political scrutiny we face.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

- we may be required to obtain personnel security clearances and facility clearances to perform on classified contracts for government agencies, and there is no guarantee that we will be able to obtain or maintain such clearances;

- government certification, software supply chain, or source code transparency requirements applicable to us or our products are constantly evolving and, in doing so, restrict our ability to sell to certain government customers until we have attained the new or revised certification or meet other applicable requirements, which we are not guaranteed to do.

- government product requirements are often technically complex and assessors may require us to make costly changes to our products to meet such requirements without any assurance that such changes will generate a sale;

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

- Our limited operating history makes it difficult to evaluate our current business and future prospects, and may increase the risk of your investment.

- Our business is focused on cloud-based data analytics, and cybersecurity, privacy, and other regulations may affect how we collect and process certain types of data.

- If we do not effectively expand and train our direct sales force, we may be unable to add new customers or increase sales to our existing customers, and our business will be adversely affected.

We have encountered and will continue to encounter risks and difficulties frequently experienced by rapidly growing companies in evolving industries, including market acceptance of our Falcon platform, adding new customers, intense competition, and our ability to manage our costs and operating expenses.

Our limited operating history makes it difficult to evaluate our current business and future prospects, and may increase the risk of your investment.

We were founded in November 2011 and launched our first endpoint security solution in 2013.

Our limited operating history makes it difficult to evaluate our current business, future prospects, and other trends, including our ability to plan for and model future growth.

We have encountered and will continue to encounter risks, uncertainties, and difficulties frequently experienced by rapidly growing companies in evolving industries, including our ability to achieve broad market acceptance of cloud-based, SaaS-delivered endpoint security solutions and our Falcon platform, attract additional customers, grow partnerships, compete effectively, build and maintain effective compliance programs, and manage increasing expenses as we continue to invest in our business.

If we do not address these risks, uncertainties, and difficulties successfully, our business, and results of operations will be harmed.

Further, we have limited historical financial data, and we operate in a rapidly evolving market.

As a result, any predictions about our future revenue and expenses may not be as accurate as they would be if we had a longer operating history or operated in a more predictable market.

In March 2020, the World Health Organization declared COVID-19 a global pandemic.

This contagious disease outbreak has spread across the globe and is impacting worldwide economic activity and financial markets.

These measures include transitioning our employee population to work remotely from home until at least April 30, 2021, imposing travel restrictions for our employees, shifting customer, partner and investor events to virtual-only formats, and limiting capacity at any of our offices which have reopened or may reopen during the pandemic’s duration.

cut their overall security and IT operations spending, and such cuts may fall disproportionately on cloud-based security solutions like ours.

systems or data or data of our customers would be especially detrimental to our reputation, customer confidence in our solution, and our business.

security solution is unreliable.

particular threat is a flaw or indicates that our solutions or services do not provide significant value, we may lose customers, and our reputation, financial condition and business would be harmed.

Although we anticipate that they may increase in the future, sales to U.S. federal, state, and local governmental agencies have not accounted for, and may never account for, a significant portion of our revenue.

- government certification requirements applicable to our products may change and, in doing so, restrict our ability to sell into the U.S. federal government sector until we have attained the revised certification.

stock, and we may be required to accept terms that further restrict our operations or our ability to incur additional indebtedness or to take other actions that would otherwise be in the interests of the debt holders.

CrowdStrike is a highly-visible public company whose management, products, business, results of operations, statements and actions are scrutinized by third-parties whose influence could negatively impact the perception of our brand and the market value of our Class A common stock.

CrowdStrike is a highly-visible public company whose management, products, business, results of operations, statements and actions are publicized.

Such attention sometimes includes criticism of us by a range of third-parties.

Our continued success depends on our ability to focus on executing on our mission and business plan while maintaining the trust of our current and potential customers, employees, stockholders and business partners.

Any criticism, whether or not accurate, could influence the perception of our brand or our management by our customers, suppliers or investors, which could adversely impact our business prospects, operating results and the market value of our Class A common stock.

Our corporate headquarters are located in the San Francisco Bay Area, a region known for seismic activity.

such attacks.

In these

time, during which we could be unable to continue to offer our affected services or features, effort and expense and may ultimately not be successful.

Personal privacy, data protection, information security, telecommunications regulations, and other laws applicable to specific categories of information are significant issues in the United States, Europe and in other jurisdictions where we offer our solutions.

The data that we collect, analyze, and store is subject to a variety of laws and regulations, including regulation by various government agencies.

The U.S. federal government, and various state and foreign governments, have adopted or proposed limitations on the collection, distribution, use, and storage of certain categories of information, such as personally identifiable information of individuals, health information, and other sector-specific types of data, including the Federal Trade Commission, the Electronic Communication Privacy Act, Computer Fraud and Abuse Act, the Health Insurance Portability and Accountability Act, and the Gramm Leach Bliley Act.

Laws and regulations outside the United States, and particularly in Europe, often are more restrictive than those in the United States.

Such laws and regulations may require companies to implement privacy and security policies, permit customers to access, correct, and delete personal information stored or maintained by such companies, inform individuals of security breaches that affect their personal information, and, in some cases, obtain individuals’ consent to use personally identifiable information for certain purposes.

In addition, some foreign governments require that any information of certain categories, such as financial or personally identifiable information collected in a country not be disseminated outside of that country.

We also may find it necessary or desirable to join industry or other self-regulatory bodies or other information security or data protection-related organizations that require compliance with their rules pertaining to information security and data protection.

We also may be bound by additional, more stringent contractual obligations relating to our collection, use and disclosure of personal, financial, and other data.

We also expect that there will continue to be new proposed laws, regulations, and industry standards concerning privacy, data protection, information security, specific categories of data, electronic, and telecommunications services in the United States, the European Union and other jurisdictions in which we operate or may operate, and we cannot yet determine the impact such future laws, regulations, standards, or perception of their requirements may have on our business.

For example, the European Commission adopted the European General Data Protection Regulation, or GDPR, that became fully effective in May

*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto included [removed: elsewhere] in [added: Item 8 “Financial Statements and Supplementary Data” in] this Annual Report on Form 10-K.

Our fiscal years ended January 31, [removed: 2021,] [added: 2022,] January 31, [removed: 2020,] [added: 2021,] and January 31, [removed: 2019,] [added: 2020,] are referred to herein as fiscal [removed: 2021,] [added: 2022,] fiscal [removed: 2020,] [added: 2021,] and fiscal [removed: 2019,] [added: 2020,] respectively.*

We believe [removed: we are defining] [added: our approach has defined] a new category called the Security Cloud, [removed: with] [added: which has] the power to transform the [removed: security] [added: cybersecurity] industry [removed: much] the same way the cloud has transformed the customer relationship management, human resources, and service management industries.

Our gross retention rate for [removed: the fourth quarter of] fiscal [removed: 2021] [added: 2022] remained consistently high and our dollar-based net retention rate [removed: once again exceeded] [added: was above] 120 percent [added: throughout fiscal year 2022] as we continued to expand [removed: module adoption within new] [added: the number of endpoints] and [added: modules within] existing customers.

[removed: In March 2020,] [added: Since the pandemic commenced,] we [added: have] implemented several measures to help protect the health and safety of our employees around the [removed: globe including restricting all travel and transitioning 100% of our workforce to be remote.][added: globe.]

In addition, in response to the uncertain macroeconomic environment, we converted all of our marketable securities to cash and cash [removed: equivalents,] [added: equivalents during the three months ended April 30, 2020] and [removed: as of January 31, 2021,] all of our investments were classified as [removed: cash.][added: cash and cash equivalents as of January 31, 2022.]

We [removed: will] continue to actively monitor the situation and may take further actions that alter our business operations as may be required by federal, state, or local authorities, or that we determine are in the best interests of our employees, customers, partners, suppliers, and stockholders.

The extent of the impact of the COVID-19 pandemic will depend on several factors, including the pace of reopening the economy around the world; the possible resurgence in the spread of the virus; the development cycle of therapeutics and vaccines; the impact on our [removed: customers and our sales cycles; the impact on our customer, employee, and industry events; and the effect on our vendors.]

Please see Part I, Item [removed: 1A,] [added: IA,] “Risk Factors” [removed: in this Annual Report on Form 10-K] for a further description of the material risks we currently face, including risks related to the COVID-19 pandemic.

The total consideration transferred was [removed: $91.2] [added: $370.3] million which consisted of [removed: $87.4] [added: $353.8] million in [added: cash, net of $12.5 million] cash [added: acquired,] and [removed: $3.8] [added: $4.0] million representing the fair value of replacement equity awards attributable to pre-acquisition service.

The purchase price was allocated, on a preliminary basis, to identified intangible assets, which include developed [removed: technology,] [added: technology and] customer relationships [removed: and trade names,] of [removed: $16.4] [added: $18.3] million, net tangible assets acquired of $(0.5) million and goodwill of [removed: $75.3] [added: $43.0] million, representing the excess of the purchase price over the fair value of net tangible and intangible assets acquired.

[removed: On] [added: In] January [removed: 4,] 2021, we amended and restated our existing [added: senior secured revolving] credit [removed: agreement] [added: facility] (the “A&R Credit [removed: Agreement” and the facility thereunder the “Revolving Facility”) among CrowdStrike, Inc., as borrower, CrowdStrike Holdings, Inc., as guarantor, and Silicon Valley Bank] [added: Agreement”)] and [added: increased] the [removed: other lenders party thereto, providing us with a revolving line] [added: size] of [added: the] credit [removed: of up] [added: facility from $150.0 million] to $750.0 million, including a letter of credit sub-facility in the aggregate amount of $100.0 million, and a swingline sub-facility in the aggregate amount of $50.0 million.

The net proceeds from the debt offering were [removed: $739.6] [added: $738.0] million after deducting the underwriting commissions of $9.4 million and [removed: $1.0] [added: $2.6] million of issuance [removed: costs, which were paid as of January 31, 2021.][added: costs.]

When customers deploy our Falcon platform, they can start with any number of cloud modules and [removed: we can activate] [added: easily add] additional cloud [removed: modules in real time on the same agent already deployed on the endpoint.][added: modules.]

We began as a solution for large enterprises, but the flexibility and scalability of our Falcon platform has enabled us to seamlessly offer our solution to customers of any [removed: size—from those with hundreds of thousands of endpoints to as few as three.][added: size.]

We have expanded our sales focus to include any [added: sized] organization without the need to modify our Falcon platform for small and medium sized businesses.

[removed: Many organizations have not yet adopted cloud-based] security solutions, and since our Falcon platform has offerings for organizations of all sizes, worldwide, and across industries, we believe this presents a significant opportunity for growth.

[removed: In February 2017,] [added: Over time] we [added: have] transitioned our platform from a single offering into highly-integrated offerings of multiple SKU cloud modules.

| | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | |

| Subscription customers | | | [removed: 9,896] [added: 16,325] | | | | | | [removed: 5,431] [added: 9,896] | | | | | | [removed: 2,516] [added: 5,431] | | |

| Year-over-year growth | | | [removed: 82] [added: 65] | | % | | | | [removed: 116] [added: 82] | | % | | | | [removed: 103] [added: 116] | | % |

We added [removed: 4,465] [added: 6,429] net new subscription customers during fiscal [removed: 2021,] [added: 2022,] including [removed: 64] [added: 145] from the [removed: acquisition] [added: acquisitions] of [removed: Preempt Security,] [added: Humio and SecureCircle,] for a total of [removed: 9,896] [added: 16,325] subscription customers as of January 31, [removed: 2021,] [added: 2022,] representing [removed: 82%] [added: 65%] growth year-over-year.

The following table sets forth our ARR as of the dates [removed: presented:][added: presented (dollars in thousands):]

| | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | |

| | | | [removed: (dollars in] [added: (in] thousands) | | | | | | | | | [removed: | | | | | |]

| Annual recurring revenue | | | $ | [removed: 1,050,051] [added: 1,731,342] | | | | | $ | [removed: 600,456] [added: 1,050,051] | | | | | $ | [removed: 312,656] [added: 600,456] | |

| Year-over-year growth | | | [removed: 75] [added: 65] | | % | | | | [removed: 92] [added: 75] | | % | | | | [removed: 121] [added: 92] | | % |

ARR increased [removed: 75%] [added: 65%] year-over-year and grew to [removed: $1.1] [added: $1.7] billion as of January 31, [removed: 2021,] [added: 2022,] of which [removed: $449.6] [added: $681.3] million was net new ARR added during fiscal [removed: 2021,] [added: 2022,] including [removed: $6.8] [added: $4.5] million from the acquisition of [removed: Preempt Security.][added: Humio and SecureCircle.]

| | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | |

| Dollar-based net retention rate | | | [removed: 125] [added: 123.9] | | % | | | | [removed: 124] [added: 124.8] | | % | | | | [removed: 147] [added: 123.5] | | % |

[removed: For time and materials and retainer-based] [added: based] arrangements, revenue is recognized as services are performed.

We capitalize and amortize sales commissions and any other incremental payments made upon the initial acquisition of a subscription or upsells to existing customers to sales and marketing expense over the estimated customer life, and [added: capitalize and] amortize any such expenses paid for the renewal of a subscription to sales and marketing expense over the term of the renewal.

*Research and Development.* Research and development expenses primarily consist of employee-related expenses such as salaries and bonuses; stock-based [removed: compensation,] [added: compensation;] consulting expenses related to the [removed: design;] [added: design,] development, testing, and enhancements of our subscription services; and an allocated portion of facilities and administrative expenses.

[removed: As a public company, we] [added: We] expect general and administrative expenses to increase in dollar amount over time.

*Interest [removed: Expense:*] [added: Expense.*] Interest Expense consists primarily of interest expense [removed: on our secured revolving credit facility, interest expense] from amortization of debt issuance costs, [removed: and] contractual interest expense for our Senior Notes issued in January [removed: 2021.][added: 2021, and amortization of debt issuance costs on our secured revolving credit facility.]

*Other [removed: Income (Expense),] [added: Income,] Net.* Other [removed: income (expense),] [added: income,] net, consists primarily of income earned on our cash [removed: equivalents] and [removed: marketable securities; expense related to the fair value of warrants for our redeemable convertible preferred stock] [added: cash equivalents, if any; gain on strategic investments] and foreign currency transaction gains and losses.

*Provision for Income Taxes.* Provision for income taxes consists of [removed: federal and] state income taxes in the United [removed: States and] [added: States, foreign] income taxes [added: including taxes related to the intercompany sale of intellectual property from Humio] and withholding taxes related to customer payments in certain foreign jurisdictions in which we conduct business.

The following tables set forth our consolidated statements of operations [removed: in dollar amounts and as a percentage of total revenue] for each period [removed: presented:][added: presented (in thousands, except percentages):]

| [added: Statement of Operations] | | | Year Ended January [removed: 31, | | | | | | | | | | | |] [added: 31, 2022] | | |

| | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | | | | | [removed: 2019] [added: 2020] | | |

This section of this Form 10-K generally discusses fiscal 2022 and 2021 items and year-over-year comparisons between fiscal 2022 and 2021.

Discussions of fiscal 2020 items and year-over-year comparisons between fiscal 2021 and 2020 are not included in this Form 10-K, and can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of our Annual Report on Form 10-K for the fiscal year ended January 31, 2021.

Founded in 2011, CrowdStrike reinvented cybersecurity for the cloud era and transformed the way cybersecurity is delivered and experienced by customers.

When we started CrowdStrike, cyberattackers had an asymmetric advantage over legacy cybersecurity products that could not keep pace with the rapid changes in adversary tactics.

We took a fundamentally different approach to solve this problem with the CrowdStrike Falcon platform – the first, true cloud-native platform capable of harnessing vast amounts of security and enterprise data to deliver highly modular solutions through a single lightweight agent.

Our pioneering platform approach keeps customers ahead of attackers by automatically detecting and preventing threats to stop breaches.

Using cloud-scale AI, our Security Cloud enriches and correlates trillions of cybersecurity events per week with indicators of attack, threat intelligence and enterprise data (including data from across endpoints, workloads, identities, DevOps, IT assets and configurations) to create actionable data, identify shifts in adversary tactics and automatically prevent threats in real-time across our customer base.

The more data that is fed into our Falcon platform, the more intelligent our Security Cloud becomes, and the more our customers benefit, creating a powerful network effect that increases the overall value we provide.

Thus far, the impact of the pandemic has been modest.

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customers and our sales cycles; the impact on our customer, employee, and industry events; and the effect on our vendors.

On March 5, 2021, we acquired Humio Limited (“Humio”), a privately-held company that is a leading provider of high-performance cloud log management and observability technology.

The acquisition was accounted for as a business combination.

The purchase price was allocated to identified intangible assets, which include developed technology, customer relationships and trade names, of $75.6 million, net tangible assets acquired of $3.4 million and goodwill of $291.3 million, representing the excess of the purchase price over the fair value of net tangible and intangible assets acquired.

On November 29, 2021, we acquired Secure Circle, LLC (“SecureCircle”), a SaaS-based cybersecurity service that extends Zero Trust security to data on, from and to the endpoint.

The acquisition was accounted for as a business combination.

The total consideration transferred was $60.8 million, which consisted solely of cash..

Many organizations have not yet adopted cloud-based

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

Our dollar-based net retention rate was above 120% throughout fiscal years 2022, 2021 and 2020.

For time and materials and retainer-

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

Fixed fee contracts account for an immaterial portion of our revenue.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

*Net Income Attributable to Non-controlling Interest*.

Net income attributable to non-controlling interest consists of the Falcon Funds’ non-controlling interest share of mark-to-market gains and interest income from our strategic investments.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| Net income attributable to noncontrolling interest | | | 2,424 | | | | | | — | | | | | | — | | |

| Net loss attributable to CrowdStrike | | | $ | (234,802) | | | | | $ | (92,629) | | | | | $ | (141,779) | |

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| Net income (loss) attributable to noncontrolling interest | | | — | | % | | | | — | | % | | | | — | | % |

| | | | 2022 | | | | | | 2021 | | | | | | $ | | | | | | % | | |

| Subscription | | | $ | 1,359,537 | | | | | $ | 804,670 | | | | | $ | 554,867 | | | | | 69 | | % |

| Total revenue | | | $ | 1,451,594 | | | | | $ | 874,438 | | | | | $ | 577,156 | | | | | 66 | | % |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

fiscal 2022, respectively.

| | | | 2022 | | | | | | 2021 | | | | | | $ | | | | | | % | | |

| Subscription | | | $ | 321,904 | | | | | $ | 185,212 | | | | | $ | 136,692 | | | | | 74 | | % |

| | | | 2022 | | | | | | 2021 | | | | | | $ | | | | | | % | | |

We founded CrowdStrike in 2011 to reinvent security for the cloud era.

When we started the company, cyberattackers had a decided, asymmetric advantage over existing security products.

We turned the tables on the adversaries by taking a fundamentally new approach that leverages the network effects of crowdsourced data applied to modern technologies such as AI, cloud computing, and graph databases.

Realizing that the nature of cybersecurity problems had changed but the solutions had not, we built our CrowdStrike Falcon platform to detect threats and stop breaches.

With our Falcon platform, we created the first multi-tenant, cloud native, intelligent security solution capable of protecting workloads across on-premise, virtualized, and cloud-based environments running on a variety of endpoints such as desktops, laptops, servers, virtual machines, cloud workloads, cloud containers, mobile, and IoT devices.

Our Falcon platform is composed of two tightly integrated proprietary technologies: our easily deployed intelligent lightweight agent and our cloud-based, dynamic graph database called Threat Graph.

Our solution benefits from crowdsourcing and economies of scale, which we believe enables our AI algorithms to be uniquely effective.

We call this cloud-scale AI.

Our single lightweight agent is installed on each endpoint or the cloud workload host and provides local detection and prevention capabilities while also intelligently collecting and streaming high fidelity data to our platform for real-time decision-making.

Our Threat Graph processes, correlates, and analyzes this data in the cloud using a combination of AI and behavioral pattern-matching techniques.

By analyzing and correlating information across our massive, crowdsourced dataset, we are able to deploy our AI algorithms at cloud-scale and build a more intelligent, effective solution to detect threats and stop breaches that on-premise or single instance cloud products cannot match.

Today, we offer 19 cloud modules via a SaaS subscription-based model that spans multiple large markets, including corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity protection and log management.

On June 14, 2019 we closed our initial public offering, or IPO, in which we issued and sold 20,700,000 shares of Class A common stock.

The price per share to the public was $34.00.

We received aggregate proceeds of $665.1 million from the IPO, net of underwriters’ discounts and commissions and before deducting estimated offering costs of $5.9 million.

Upon the closing of the IPO, all shares of our outstanding preferred stock automatically converted into 131,267,586 shares of Class B common stock.

In connection with our IPO, all shares of our common stock outstanding prior to our IPO were automatically converted into shares of Class B common stock.

Thus far, the impact of the pandemic has been modest with some customers, particularly in heavily impacted industries, requesting special billing or payment terms.

We continue to conduct business as usual with modifications to employee travel, employee work locations, customer interactions, and cancellation of certain marketing events, among other things.

In March 2020, we launched two initiatives to help our customers quickly onboard new remote workers without sacrificing protection or having to worry about a procurement cycle.

This included a surge relief plan that allows our customers to surge the number of endpoints for a limited time.

Additionally, we launched a Falcon Prevent for Home Use program that allows our customers’ company administrators to install Falcon Prevent on their employees’ home systems.

We believe both of these initiatives have been well received by our customers.

On September 30, 2020, we acquired Preempt Security, a privately-held Delaware corporation that developed real-time access control and threat prevention technology (the “Acquisition”).

With this acquisition, we plan to offer customers enhanced Zero Trust security capabilities and strengthen our Falcon platform with conditional access technology.

The addition of Preempt Security’s technology to the Falcon platform will help customers achieve end-to-end visibility and enforcement on identity data.

We also have the option to request an incremental facility of up to an additional $250.0 million from one or more of the lenders under the A&R Credit Agreement.

The A&R Credit Agreement is guaranteed by all of our material domestic subsidiaries.

The maturity date under the A&R Credit Agreement is January 2, 2026.

On January 20, 2021, we issued and sold $750.0 million aggregate principal amount of 3.000% Senior Notes due 2029 (the “Senior Notes”).

The Senior Notes are guaranteed by one of our subsidiaries, CrowdStrike, Inc., as of the closing date, and thereafter will be guaranteed by any of our domestic subsidiaries that become borrowers or guarantors under our senior secured revolving credit facility.

The Senior Notes and the guarantee are general unsecured senior obligations and rank equal in right of payment to all of our existing and future senior indebtedness.

Interest will be payable semi-annually at a rate of 3.000% per year.

The Senior Notes will mature on February 15, 2029.

We may redeem the Senior Notes prior to maturity under certain circumstances.

This architecture has also allowed us to begin to offer a free trial of our Falcon Prevent module directly from our website or the AWS Marketplace, and we plan to extend this capability to additional modules in the future.

We initially launched this strategy with our IT hygiene, next-generation antivirus, EDR, managed threat hunting, and intelligence modules.

We currently have 19 cloud modules that span multiple large markets.

| | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

Our cash and cash equivalents primarily consist of cash on hand and highly liquid investments in [removed: corporate debt securities and] bank [removed: deposits.][added: deposits and money market funds.]

As of January 31, [removed: 2021,] [added: 2022,] we had cash and cash equivalents of [removed: $1.9] [added: $2.0] billion and no marketable securities.

Due to the short-term nature of our investment portfolio, the effect of a hypothetical 100 basis point change in interest rates would not have had a material effect on the fair market value of our portfolio as of January 31, [removed: 2021.][added: 2022.]

Our debt obligations consist of [added: a] variety of financial instruments that expose us to interest rate risk, including, but not limited to our revolving credit facility and the Senior Notes.

[removed: Interest] [added: The interest] on the revolving credit facility is tied to short term interest rate benchmarks including [removed: prime rate or LIBOR.][added: the Term SOFR.]

A hypothetical 10% [removed: decrease] [added: adverse change] in the U.S. dollar against other currencies would have resulted in an increase in operating loss of approximately [added: $36.3 million and] $17.2 million for the [removed: year] [added: fiscal years] ended January 31, [removed: 2021.][added: 2022 and January 31, 2021, respectively.]

The interest rate on the Senior Notes is fixed.

Inflation Rate Risk

We do not believe that inflation had a material effect on our business, financial conditions or results of operations during the fiscal year ended January 31, 2022.

If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases.

Our inability or failure to do so could harm our business, financial condition and results of operations.

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Interest on the term loans is fixed.

During the year ended January 31, 2021, foreign currency exchange rate gain recorded to Other comprehensive income (loss) was $2.6 million.

We believe [removed: we are defining] [added: our approach has defined] a new category called the Security Cloud, [removed: with] [added: which has] the power to transform the [removed: security] [added: cybersecurity] industry [removed: much] the same way the cloud has transformed the customer relationship management, human resources, and service management industries.

Our Falcon platform is composed of two tightly integrated proprietary technologies: our [removed: easily deployed intelligent] lightweight agent and our [removed: cloud-based, dynamic graph database called Threat Graph.][added: Security Cloud.]

[removed: Our single] [added: With the] lightweight agent [removed: is] installed on each endpoint or [removed: the] cloud [removed: workload and provides local] [added: workload, our Falcon platform automates] detection and prevention capabilities [removed: while also intelligently collecting and streaming high fidelity data to] [added: in real time across] our [removed: platform for real-time decision-making.][added: entire global customer base.]

By analyzing and correlating information across our massive, crowdsourced dataset, we are able to deploy our AI algorithms at cloud-scale and build a more intelligent, effective solution to detect threats and stop breaches that [removed: on-premise or single instance cloud] [added: on-premise, cloud-hosted and hybrid] products cannot [removed: match.][added: match due to the inherent architectural limitations those products have with respect to data storage and analysis.]

Today, we offer [removed: 19] [added: 22] cloud modules [removed: and] [added: on] our Falcon platform via a SaaS subscription-based model that spans multiple large markets, including corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity [removed: protection] [added: protection,] and log management.

[added: - Hybrid, Remote Workforces and the Proliferation of Workloads Expands the Attack Surface:] Organizations everywhere are [added: embracing digital transformation and are] becoming more distributed as they adopt the cloud, increase workforce mobility, and grow their number of connected devices.

They are adding more workloads to a myriad of different endpoints beyond the traditional [removed: security] [added: cybersecurity] perimeter, exposing an increasingly broad attack surface to adversaries.

[removed: On a number of occasions,] [added: In 2021 alone,] adversaries [removed: have] launched [removed: devastating,] [added: multiple,] destructive attacks that [removed: have caused significant] [added: disrupted] business [removed: disruption] and [removed: billions of dollars] [added: resulted] in [added: significant] cumulative losses.

[added: - Reducing Agent Bloat:] Our [added: single intelligent lightweight agent enables frictionless deployment of our platform at scale, enabling] customers [removed: can] [added: to] rapidly adopt our technology across any type of workload running on a variety of endpoints.

The agent is [removed: nonintrusive] [added: non-intrusive] to the end [removed: user] [added: user, requires no reboots] and continues to protect the endpoint and track activity even when offline.

[removed: By utilizing CrowdStrike’s] [added: Through our] single [removed: agent,] [added: lightweight agent approach,] customers [removed: are able] [added: can adopt multiple platform modules] to [removed: leverage the capabilities] [added: address their critical areas] of [removed: our platform] [added: risk] without burdening the endpoint with multiple agents.

[removed: Our cloud-scale AI means that the] [added: The] more data that is fed into our Falcon platform, the more intelligent [removed: Threat Graph becomes] [added: our Security Cloud becomes,] and the more our customers benefit, creating a powerful network effect that increases the overall value we provide.

[added: While] AI is revolutionizing many technology fields, including [removed: security solutions.][added: cybersecurity solutions, to be truly effective,]

[removed: To be truly effective,] algorithms that enable AI depend on the quality and volume of data that trains them and the selection of the right differentiating features from that data.

[removed: We are] [added: Our technology is] uniquely effective because we not only have a massive amount of high fidelity data to [added: continuously] train our AI models but also because of our deep [removed: security expertise to guide] [added: cybersecurity expertise, which supports] our [removed: feature selection—all resulting in] industry-leading efficacy and low false positives.

[added: - Extending Our Falcon Platform and Ecosystem.] We designed our [removed: Falcon platform with an] [added: architecture to be] open, interoperable, and highly [removed: extensible architecture.][added: extensible.]

[removed: Therefore, we can] [added: Our platform approach allows us to] rapidly innovate, build, and deploy highly integrated modules [removed: to] [added: that address critical customer problems and] access additional market opportunities.

Our [removed: Falcon platform includes our] OverWatch threat hunting cloud module [removed: that] combines [removed: the] [added: world-class] human intelligence [removed: of] [added: from] our elite security experts with the power of [removed: Threat Graph.][added: the Security Cloud.]

Because our [removed: world class] [added: world-class] team can see [removed: potential] attacks across our entire customer base, their expertise is enhanced by their constant visibility into the threat landscape.

With the Falcon platform, organizations can transform how they combat threats, [added: transforming] from slow, manual, and reactionary to fast, automated, and predictive, [removed: providing] [added: while gaining] visibility across the [removed: entire] threat lifecycle.

We primarily sell [removed: our] [added: the Falcon] platform [removed: and cloud modules] through our direct sales team that leverages our network of channel partners to maximize effectiveness and scale.

As of January 31, [removed: 2021,] [added: 2022,] we had [removed: 9,896] [added: 16,325] subscription customers worldwide.

We have experienced significant growth, with [removed: total] revenue increasing from [removed: $249.8] [added: $874.4] million [removed: for] [added: in] fiscal [removed: 2019] [added: 2021] to [removed: $481.4 million for] [added: $1.5 billion in] fiscal [removed: 2020,] [added: 2022,] representing year-over-year growth of [removed: 93%,] [added: 66%,] and from $481.4 million [removed: for] [added: in] fiscal 2020 to $874.4 million [removed: for] [added: in] fiscal 2021, representing year-over-year growth of 82%.

Subscription revenue grew from [removed: $219.4] [added: $804.7] million [removed: for] [added: in] fiscal [removed: 2019] [added: 2021] to [removed: $436.3 million for] [added: $1.4 billion in] fiscal [removed: 2020,] [added: 2022,] a [removed: 99%] [added: 69%] increase, and from $436.3 million [removed: for] [added: in] fiscal 2020 to $804.7 million [removed: for] [added: in] fiscal 2021, [removed: a] [added: an] 84% increase.

Our [removed: annual recurring revenue, or ARR,] [added: Annual Recurring Revenue (“ARR”),] has grown from [removed: $312.7 million] [added: a $1.1 billion] as of January 31, [removed: 2019] [added: 2021] to [removed: $600.5 million] [added: $1.7 billion] as of January 31, [removed: 2020,] [added: 2022,] a [removed: 92%] [added: 65%] increase, and from $600.5 million as of January 31, 2020 to $1.1 billion as of January 31, 2021, a 75% increase.

We had net losses of [removed: $92.6] [added: $234.8] million, [removed: $141.8] [added: $92.6] million, and [removed: $140.1] [added: $141.8] million in fiscal [removed: 2021,] [added: 2022,] fiscal [removed: 2020] [added: 2021,] and fiscal [removed: 2019,] [added: 2020,] respectively.

We expect to continue to incur net losses for the foreseeable future as we continue to invest in our business, and in particular, our sales and [removed: R&D] [added: research and development] capabilities, to address our large market opportunity.

[removed: There] [added: We believe there] are a number of [removed: key] [added: important macro] trends that [removed: are driving] [added: drive] the need for a new approach to security.

[added: - On-Premise Security and Bolt-On Cloud Products Lead to Constrained and Impacted Users:] On-premise products are siloed, lack integration, and have limited ability to collect, process, and analyze vast amounts of data—attributes that are required to be effective in today’s increasingly dynamic threat landscape.

[removed: *Legacy Signature-based Products.*] [added: - Legacy Signature-Based Products Are Not Effective Against Unknown Threats:] Signature-based products are designed to detect attacks that are already cataloged [removed: in a repository of] [added: as] previously identified [removed: threats but are not capable of preventing unknown threats or stopping associated breaches.][added: threats.]

[removed: *Malware-focused] [added: - Malware-Focused] Machine Learning [removed: Products.*] [added: Products Miss Sophisticated Attacks:] Traditionally, organizations have focused on protecting their networks and endpoints against malware-based attacks.

[removed: *Application] [added: - Application] Whitelisting [removed: Products.*] [added: Products Are Ineffective:] Application whitelisting products resort to an “always allow” or “always block” policy on an endpoint in order to allow or prevent processes from executing.

[removed: Furthermore,] [added: This does not prevent] fileless attacks [removed: can exploit] [added: from exploiting] legitimate whitelisted applications, compromising the integrity of the whitelisting product.

[removed: Any] [added: We believe that any] product that was originally designed for on-premise deployments and migrated to the cloud cannot by definition be a cloud native solution.

Our [removed: Falcon platform supports 19] cloud modules [removed: via a SaaS subscription-based model] [added: integrate seamlessly with the Falcon platform] that [removed: spans multiple large markets, including] [added: addresses use cases across] corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity [removed: protection] [added: protection,] and log management.

[removed: *•*The] [added: - The] Power of the [removed: Crowd.] [added: Crowd:] Our crowdsourced data enables [removed: all of our customers] [added: every customer] to benefit from contributing to [removed: Threat Graph.][added: the Security Cloud.]

As more high fidelity data is fed into our [removed: Falcon platform, there is more data to train] [added: Security Cloud,] our AI models [removed: with,] [added: continue to train and improve,] increasing the overall efficacy of [removed: our] [added: the] Falcon platform.

[removed: Our integrated platform unifies cloud modules addressing] [added: We empower customers to rapidly deploy and scale] cloud workload security, next-generation antivirus, endpoint detection and response [removed: (EDR),] [added: (“EDR”),] device control, host firewall management, vulnerability management, forensic analysis, IT hygiene, threat hunting, [removed: and] [added: identity protection, log management,] automated threat [removed: intelligence.][added: intelligence, and Extended Detection and Response (“XDR”) from a single platform.]

[removed: *•*Lowering] [added: - Lower] Total Cost of [removed: Ownership.] [added: Ownership:] Our [removed: cloud-based] [added: cloud-native] platform eliminates our customers’ need for initial or ongoing purchases of hardware and does not require their personnel to configure, implement or integrate disparate point products.

[removed: *•*Growing] [added: - Growing] Our Customer Base by Replacing Legacy and Other Endpoint Security Products. Given the limitations of existing legacy and other endpoint security products, many organizations are replacing their existing legacy and other endpoint security products with our Falcon platform.

Founded in 2011, CrowdStrike reinvented cybersecurity for the cloud era and transformed the way cybersecurity is delivered and experienced by customers.

When we started CrowdStrike, cyberattackers had an asymmetric advantage over legacy cybersecurity products that could not keep pace with the rapid changes in adversary tactics.

We took a fundamentally different approach to solve this problem with the CrowdStrike Falcon platform – the first, true cloud-native platform capable of harnessing vast amounts of security and enterprise data to deliver highly modular solutions through a single lightweight agent.

Our pioneering platform approach keeps customers ahead of attackers by automatically detecting and preventing threats to stop breaches.

Using cloud-scale AI, our Security Cloud enriches and correlates trillions of cybersecurity events per week with indicators of attack, threat intelligence and enterprise data (including data from across endpoints, workloads, identities, DevOps, IT assets and configurations) to create actionable data, identify shifts in adversary tactics and automatically prevent threats in real-time across our customer base.

CrowdStrike: The Architectural Purpose Behind the Platform

Our Falcon platform was purpose-built in the cloud to harness the power of our Security Cloud to deliver the next generation of automated protection and provide threat hunters with the intelligence required to stop sophisticated attacks, including non-malware based attacks.

This approach has made CrowdStrike an industry leader in endpoint and cloud workload protection (capable of protecting workloads across on-premise, virtualized, and cloud-based environments running on a variety of endpoints such as desktops, laptops, servers, virtual machines, cloud workloads, cloud containers, mobile, and IoT devices) and enables us to rapidly scale this best in class protection across new and emerging areas of enterprise risk.

Our Falcon platform is composed of tightly integrated, proprietary technologies that enable us to deliver superior protection and performance, while reducing customer complexity.

Our Falcon platform consists of our easily deployed, intelligent lightweight agent, and our groundbreaking graph technology.

Our single, lightweight-agent approach has changed how organizations experience cybersecurity, delivering protection without impacting the user, resources or productivity.

This also enables our Falcon platform to intelligently ingest and stream high fidelity data back into the Security Cloud to continuously improve our Falcon platform’s AI algorithms and make its real-time decision-making faster and smarter to keep customers ahead of changing adversary tactics.

Our graph technology correlates and contextualizes the vast data of our Security Cloud so we can collect data once and reuse it repeatedly to deliver solutions that solve our customers’ biggest problems.

Our Threat Graph uses a combination of AI and behavioral pattern-matching techniques to correlate and analyze trillions of cybersecurity events, enriched with threat intelligence, and third-party data to identify and link threat activity together to automatically prevent threats in real time across CrowdStrike’s global customer base.

This also provides customers with increased visibility of attacks for proactive threat hunting and timely detection and remediation of novel threats.

The Falcon platform was purpose-built with the foresight that the future of cybersecurity would need to be cloud-native and AI-driven.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

This is why we believe our Security Cloud and our cloud-native architecture creates a fundamental differentiator from our competitors.

The expansive amount of high fidelity data crowdsourced and captured in our Security Cloud enables the continuous training of our algorithms.

The more data that is fed into our Falcon platform, the more intelligent the Security Cloud becomes, and the more our customers benefit, creating a powerful network effect that increases the overall value we provide.

Industry Background: The Trends Driving a Need for a New Approach to Security

These include:

- Cybersecurity Threats are More Sophisticated and More Damaging: The sophistication of adversaries continues to increase as militaries and intelligence services of well-funded nation-states, technically advanced criminal organizations and hackers use advanced, easily obtained methods of attack - including non-malware based attacks that exploit user identities and credentials.

The number and scale of attacks continue to increase.

The typical attack cycle starts with attackers attempting to penetrate endpoints to establish a beachhead.

Once inside, adversaries steal and exploit legitimate credentials to escalate privileges, move laterally and progress and attack, often downloading malware or ransomware.

This existing trend was accelerated significantly with the need to support an increasingly remote workforce in 2020 due to the COVID-19 pandemic and we believe this trend continues today.

In addition, technologies like Cloud and Containers are being adopted quickly, but rather than becoming full-scale replacements, they are often being used as supplements to existing on-premise, bare metal, and virtualized workloads.

- Growing Cyber Skills Gap: Trained cybersecurity professionals are in high demand, and organizations continue to face a dire shortage of talent to fill much needed cybersecurity positions.

As a result, existing cybersecurity teams are often overwhelmed by the velocity of cyberattacks.

Adversaries exploit this vacuum by continuing to accelerate their sophisticated attacks.

Competitive Market: Existing Security Solutions Are Limited and Exacerbate Ongoing Trends:

We believe the aforementioned trends are exacerbated by the architectural limitations of legacy cybersecurity products, which include:

Meanwhile, these solutions often require more agents on the endpoint as new capabilities are patchworked together, which can have a dramatic negative impact on user performance.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

Many on-premise vendors have since tried to solve this problem by simply extending on-premise products to the cloud.

Since their products were not purpose built to run in the cloud, the traditional on-premise issues - complex to deploy, siloed nature, lack of integration, limited ability to scale, costly to maintain - continue to manifest.

As a result, such products are fundamentally unable to prevent unknown threats resulting from shifts in attacker tradecraft.

It often only takes a slight modification on the part of the attacker to bypass signatures.

CrowdStrike: Built for This Moment and the Future

We founded CrowdStrike in 2011 to reinvent security for the cloud era.

When we started the company, cyberattackers had a decided, asymmetric advantage over existing security products.

We turned the tables on the adversaries by taking a fundamentally new approach that leverages the network effects of crowdsourced data applied to modern technologies such as AI, cloud computing, and graph databases.

Realizing that the nature of cybersecurity problems had changed but the solutions had not, we built our CrowdStrike Falcon platform to detect threats and stop breaches.

With our Falcon platform, we created the first multi-tenant, cloud native, intelligent security solution capable of protecting workloads across on-premise, virtualized, and cloud-based environments running on a variety of endpoints such as desktops, laptops, servers, virtual machines, cloud workloads, cloud containers, mobile, and IoT devices.

Our solution benefits from crowdsourcing and economies of scale, which we believe enables our AI algorithms to be uniquely effective.

Our Threat Graph processes, correlates, and analyzes this data in the cloud using a combination of AI and behavioral pattern-matching techniques.

In addition, the sophistication of cyberattacks has increased, often coming from nation-states, well-funded criminal organizations, and hackers using advanced, easily obtained methods of attack.

The architectural limitations of legacy security products, coupled with a dynamic and intensifying threat landscape, are creating the need for a fundamentally new approach to security.

Our pioneering approach starts with our single intelligent lightweight agent that enables frictionless deployment of our platform at scale.

Our lightweight agent offloads computationally intensive tasks to the cloud, while retaining local detection and prevention capabilities that are necessary on the endpoint.

The agent recommences transmitting data to our Falcon platform when the connection to the cloud has been reestablished.

Our lightweight agent intelligently streams high fidelity endpoint data to the cloud where Threat Graph provides a simple, flexible, and scalable way to model highly interconnected data sets.

Threat Graph processes, correlates, and analyzes over five trillion endpoint-related events per week in real time and maintains an index of these events for future use.

Threat Graph continuously looks for malicious activity by applying graph analytics and AI algorithms to the data streamed from the endpoints.

Our multi-tenant architecture allows us to collect a broad array of high fidelity data about both potential attacks and benign behavioral patterns across our entire customer base, continuously enhancing our AI algorithms.

This significantly increases the efficacy of our solution to stop breaches while reducing false positives.

We founded our company on the principle that the future of security would be driven by AI and that a cloud-native architecture would enable the collection of high fidelity data and scalability necessary for an effective solution.

From the beginning, our strategy was focused on collecting data at scale, centrally storing such data in a singular model, and training our algorithms on these vast amounts of high fidelity data, which we believe is a fundamental differentiator from our competitors.

Our proprietary algorithms in Threat Graph identify events that may or may not be directly related, but together could indicate a threat that could otherwise remain undetected.

Our rich set of continuously collected high fidelity endpoint data feeding our algorithms also enables us to use an active learning approach, where the models are continuously updated to fill in gaps identified in initial models and their performance is validated with this data prior to production use.

By leveraging a multi-tenant, cloud native solution, the data we analyze to stop breaches is both larger and more meaningful than the data from on-premise or single instance private cloud products.

If Threat Graph discovers something in one customer environment, all customers benefit automatically and in real time.

Taken together, our platform enables intelligent, dynamic automation at scale to detect threats and stop breaches.

Because of our single data model, we only need to collect high fidelity endpoint data once from our agent, which we can use repeatedly for multiple use cases.

Additionally, via the CrowdStrike Store, customers can discover, try, buy and deploy trusted partner applications that extend their investment in the CrowdStrike Falcon platform.

We also built a rich set of APIs that allows us to ingest third-party data into our Falcon platform and allows our customers to expand the functionality of their existing security systems by writing their own programs and accessing the data on our platform.

We are able to keep this team lean and scalable by leveraging automation and our Threat Graph.

OverWatch is a force multiplier that extends the capabilities and improves the productivity of our customers’ security teams.

We amplify our sales presence by leveraging our technology alliance partners that can deliver, embed, or build applications with data and analytics from our Falcon platform.

We are also enhancing our go-to-market strategy using a low-touch, trial-to-pay approach.

In December 2017, we began to employ a trial-to-pay model in which we offer 15-day free trial access to Falcon Prevent, our next-generation antivirus module, to prospective customers directly from our website.

In May 2018, we began offering Falcon Prevent for trial and purchase through the AWS Marketplace and have since expanded our modules available through the AWS Marketplace.

We believe this approach enables a higher velocity of new customer acquisition and expansion, and extends our reach to customers of all sizes.

When customers deploy our Falcon platform, they can start with any number of cloud modules and we can activate additional cloud modules in real time on the same agent already deployed on the endpoint.

Once customers experience the benefits of our Falcon platform, they often expand their adoption over time by adding more endpoints or purchasing additional modules.

As of January 31, 2021, subscription customers that had adopted four or more modules, five or more modules and six or more modules increased to 63%, 47%, and 24%, respectively.

Our dollar

based net retention rate, which measures expansion in existing customers’ subscriptions over a 12 month period, was 125% as of January 31, 2021, demonstrating the power of our land-and-expand strategy.

Some of the world’s largest enterprises, government organizations, and high profile brands trust CrowdStrike to protect their business.

For information regarding legal proceedings and other claims in which we are involved, see Note [removed: 12, “Commitments] [added: 11, Commitments] and [removed: Contingencies” in our Notes to Consolidated Financial Statements] [added: Contingencies,] in Part II, Item 8 of this Annual Report on Form 10-K.

There is no pending or threatened legal proceeding to which we are a party that, in our opinion, is likely to have a material adverse effect on our [added: business and our] consolidated financial statements; however, the results of litigation and claims are inherently unpredictable.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

For the fiscal year ended January 31, [removed: 2021][added: 2022]

The aggregate market value of the common stock held by non-affiliates of the registrant, based on the closing price of a share of the registrant’s common stock on July 31, [removed: 2020] [added: 2021] (the last business day of the registrant’s most recently completed second fiscal quarter) as reported by the Nasdaq Global Select Market on such date was approximately [removed: $20.8] [added: $51.5] billion.

As of February 28, [removed: 2021,] [added: 2022,] the number of shares of the registrant’s Class A common stock outstanding was [removed: 195,247,309,] [added: 210,058,133,] and the number of shares of the registrant’s Class B common stock outstanding was [removed: 28,628,920.][added: 20,709,727.]

Portions of the registrant’s definitive Proxy Statement relating to its [removed: 2021] [added: 2022] Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K where indicated.

| [Item [removed: 1.](#i2ba7f4dc0530400e93278bb160a40255_16)] [added: 1.](#i23696c21edfb486ea3883eaec549c469_16)] | | | [removed: [Business](#i2ba7f4dc0530400e93278bb160a40255_16)] [added: [Business](#i23696c21edfb486ea3883eaec549c469_16)] | | | [removed: [3](#i2ba7f4dc0530400e93278bb160a40255_16)] [added: [4](#i23696c21edfb486ea3883eaec549c469_16)] | | |

| [Item [removed: 1A.](#i2ba7f4dc0530400e93278bb160a40255_19)] [added: 1A.](#i23696c21edfb486ea3883eaec549c469_19)] | | | [Risk [removed: Factors](#i2ba7f4dc0530400e93278bb160a40255_19)] [added: Factors](#i23696c21edfb486ea3883eaec549c469_19)] | | | [removed: [19](#i2ba7f4dc0530400e93278bb160a40255_19)] [added: [19](#i23696c21edfb486ea3883eaec549c469_19)] | | |

| [Item [removed: 1B.](#i2ba7f4dc0530400e93278bb160a40255_22)] [added: 1B.](#i23696c21edfb486ea3883eaec549c469_22)] | | | [Unresolved Staff [removed: Comments](#i2ba7f4dc0530400e93278bb160a40255_22)] [added: Comments](#i23696c21edfb486ea3883eaec549c469_22)] | | | [removed: [51](#i2ba7f4dc0530400e93278bb160a40255_22)] [added: [51](#i23696c21edfb486ea3883eaec549c469_22)] | | |

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| [Item [removed: 3.](#i2ba7f4dc0530400e93278bb160a40255_28)] [added: 3.](#i23696c21edfb486ea3883eaec549c469_28)] | | | [Legal [removed: Proceedings](#i2ba7f4dc0530400e93278bb160a40255_28)] [added: Proceedings](#i23696c21edfb486ea3883eaec549c469_28)] | | | [removed: [52](#i2ba7f4dc0530400e93278bb160a40255_28)] [added: [51](#i23696c21edfb486ea3883eaec549c469_28)] | | |

| [Item [removed: 4.](#i2ba7f4dc0530400e93278bb160a40255_31)] [added: 4.](#i23696c21edfb486ea3883eaec549c469_31)] | | | [Mine Safety [removed: Disclosures](#i2ba7f4dc0530400e93278bb160a40255_31)] [added: Disclosures](#i23696c21edfb486ea3883eaec549c469_31)] | | | [removed: [52](#i2ba7f4dc0530400e93278bb160a40255_31)] [added: [52](#i23696c21edfb486ea3883eaec549c469_31)] | | |

| [Item [removed: 5.](#i2ba7f4dc0530400e93278bb160a40255_37)] [added: 5.](#i23696c21edfb486ea3883eaec549c469_37)] | | | [Market for Registrant’s Common Equity, Related Stockholder Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity [removed: Securities](#i2ba7f4dc0530400e93278bb160a40255_37)] [added: Securities](#i23696c21edfb486ea3883eaec549c469_37)] and Issuer Purchases of Equity Securities | | | [removed: [53](#i2ba7f4dc0530400e93278bb160a40255_37)] [added: [53](#i23696c21edfb486ea3883eaec549c469_37)] | | |

| [Item [removed: 7.](#i2ba7f4dc0530400e93278bb160a40255_43)] [added: 7.](#i23696c21edfb486ea3883eaec549c469_43)] | | | [Management’s Discussion and Analysis of Financial Condition and Results of [removed: Operations](#i2ba7f4dc0530400e93278bb160a40255_43)] [added: Operations](#i23696c21edfb486ea3883eaec549c469_43)] | | | [removed: [57](#i2ba7f4dc0530400e93278bb160a40255_43)] [added: [55](#i23696c21edfb486ea3883eaec549c469_43)] | | |

| [Item [removed: 7A.](#i2ba7f4dc0530400e93278bb160a40255_85)] [added: 7A.](#i23696c21edfb486ea3883eaec549c469_88)] | | | [Quantitative and Qualitative Disclosures about Market [removed: Risk](#i2ba7f4dc0530400e93278bb160a40255_85)] [added: Risk](#i23696c21edfb486ea3883eaec549c469_88)] | | | [removed: [87](#i2ba7f4dc0530400e93278bb160a40255_85)] [added: [71](#i23696c21edfb486ea3883eaec549c469_88)] | | |

| [Item [removed: 8.](#i2ba7f4dc0530400e93278bb160a40255_88)] [added: 8.](#i23696c21edfb486ea3883eaec549c469_91)] | | | [Financial Statements and Supplementary [removed: Data](#i2ba7f4dc0530400e93278bb160a40255_88)] [added: Data](#i23696c21edfb486ea3883eaec549c469_91)] | | | [removed: [88](#i2ba7f4dc0530400e93278bb160a40255_88)] [added: [72](#i23696c21edfb486ea3883eaec549c469_91)] | | |

| [Item [removed: 9.](#i2ba7f4dc0530400e93278bb160a40255_160)] [added: 9.](#i23696c21edfb486ea3883eaec549c469_175)] | | | [Changes in and Disagreements with Accountants on Accounting and Financial [removed: Disclosure](#i2ba7f4dc0530400e93278bb160a40255_160)] [added: Disclosure](#i23696c21edfb486ea3883eaec549c469_175)] | | | [removed: [129](#i2ba7f4dc0530400e93278bb160a40255_160)] [added: [111](#i23696c21edfb486ea3883eaec549c469_175)] | | |

| [Item [removed: 9A.](#i2ba7f4dc0530400e93278bb160a40255_163)] [added: 9A.](#i23696c21edfb486ea3883eaec549c469_178)] | | | [Controls and [removed: Procedures](#i2ba7f4dc0530400e93278bb160a40255_163)] [added: Procedures](#i23696c21edfb486ea3883eaec549c469_178)] | | | [removed: [129](#i2ba7f4dc0530400e93278bb160a40255_163)] [added: [111](#i23696c21edfb486ea3883eaec549c469_178)] | | |

| [Item [removed: 9B.](#i2ba7f4dc0530400e93278bb160a40255_166)] [added: 9B.](#i23696c21edfb486ea3883eaec549c469_181)] | | | [Other [removed: Information](#i2ba7f4dc0530400e93278bb160a40255_166)] [added: Information](#i23696c21edfb486ea3883eaec549c469_181)] | | | [removed: [130](#i2ba7f4dc0530400e93278bb160a40255_166)] [added: [112](#i23696c21edfb486ea3883eaec549c469_181)] | | |

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| [Item [removed: 12.](#i2ba7f4dc0530400e93278bb160a40255_178)] [added: 12.](#i23696c21edfb486ea3883eaec549c469_193)] | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#i2ba7f4dc0530400e93278bb160a40255_178)] [added: Matters](#i23696c21edfb486ea3883eaec549c469_193)] | | | [removed: [130](#i2ba7f4dc0530400e93278bb160a40255_178)] [added: [113](#i23696c21edfb486ea3883eaec549c469_193)] | | |

| [Item [removed: 13.](#i2ba7f4dc0530400e93278bb160a40255_181)] [added: 13.](#i23696c21edfb486ea3883eaec549c469_196)] | | | [Certain Relationships and Related Transactions and Director [removed: Independence](#i2ba7f4dc0530400e93278bb160a40255_181)] [added: Independence](#i23696c21edfb486ea3883eaec549c469_196)] | | | [removed: [130](#i2ba7f4dc0530400e93278bb160a40255_181)] [added: [113](#i23696c21edfb486ea3883eaec549c469_196)] | | |

| [Item [removed: 14.](#i2ba7f4dc0530400e93278bb160a40255_184)] [added: 14.](#i23696c21edfb486ea3883eaec549c469_199)] | | | [Principal Accountant Fees and [removed: Services](#i2ba7f4dc0530400e93278bb160a40255_184)] [added: Services](#i23696c21edfb486ea3883eaec549c469_199)] | | | [removed: [130](#i2ba7f4dc0530400e93278bb160a40255_184)] [added: [113](#i23696c21edfb486ea3883eaec549c469_199)] | | |

| [Item [removed: 15.](#i2ba7f4dc0530400e93278bb160a40255_190)] [added: 15.](#i23696c21edfb486ea3883eaec549c469_205)] | | | [Exhibits, Financial Statement [removed: Schedules](#i2ba7f4dc0530400e93278bb160a40255_190)] [added: Schedules](#i23696c21edfb486ea3883eaec549c469_205)] | | | [removed: [130](#i2ba7f4dc0530400e93278bb160a40255_190)] [added: [113](#i23696c21edfb486ea3883eaec549c469_205)] | | |

| [Item [removed: 16.](#i2ba7f4dc0530400e93278bb160a40255_193)] [added: 16.](#i23696c21edfb486ea3883eaec549c469_208)] | | | [Form 10-K [removed: Summary](#i2ba7f4dc0530400e93278bb160a40255_193)] [added: Summary](#i23696c21edfb486ea3883eaec549c469_208)] | | | [removed: [131](#i2ba7f4dc0530400e93278bb160a40255_193)] [added: [113](#i23696c21edfb486ea3883eaec549c469_208)] | | |

206 E.

9th Street, Suite 1400, Austin, Texas 78701

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| | | | [Part I](#i23696c21edfb486ea3883eaec549c469_13) | | | | | |

| | | | [Part II](#i23696c21edfb486ea3883eaec549c469_34) | | | | | |

| [Item 6.](#i23696c21edfb486ea3883eaec549c469_40) | | | [\[Reserved\]](#i23696c21edfb486ea3883eaec549c469_40) | | | [54](#i23696c21edfb486ea3883eaec549c469_40) | | |

| [Item 9C.](#i23696c21edfb486ea3883eaec549c469_1679) | | | [Disclosure Regarding Foreign Jurisdictions That Prevent Inspections](#i23696c21edfb486ea3883eaec549c469_1679) | | | [112](#i23696c21edfb486ea3883eaec549c469_1679) | | |

| | | | [Part III](#i23696c21edfb486ea3883eaec549c469_184) | | | | | |

| | | | [Part IV](#i23696c21edfb486ea3883eaec549c469_202) | | | | | |

| | | | [Signatures](#i23696c21edfb486ea3883eaec549c469_214) | | | [117](#i23696c21edfb486ea3883eaec549c469_214) | | |

| | | | [Power of Attorney](#i23696c21edfb486ea3883eaec549c469_217) | | | [118](#i23696c21edfb486ea3883eaec549c469_217) | | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

150 Mathilda Place, Suite 300, Sunnyvale, California 94086

| | | | [Part I](#i2ba7f4dc0530400e93278bb160a40255_13) | | | | | |

| | | | [Part II](#i2ba7f4dc0530400e93278bb160a40255_34) | | | | | |

| [Item 6.](#i2ba7f4dc0530400e93278bb160a40255_40) | | | [Selected Financial Data](#i2ba7f4dc0530400e93278bb160a40255_40) | | | [55](#i2ba7f4dc0530400e93278bb160a40255_40) | | |

| | | | [Part III](#i2ba7f4dc0530400e93278bb160a40255_169) | | | | | |

| | | | [Part IV](#i2ba7f4dc0530400e93278bb160a40255_187) | | | | | |

| | | | [Signatures](#i2ba7f4dc0530400e93278bb160a40255_199) | | | [134](#i2ba7f4dc0530400e93278bb160a40255_199) | | |

| | | | [Power of Attorney](#i2ba7f4dc0530400e93278bb160a40255_202) | | | [135](#i2ba7f4dc0530400e93278bb160a40255_202) | | |

Our principal executive offices occupy approximately 36,385 square feet in Austin, Texas under a lease that expires in 2024.

We also lease office space for our operations in various locations throughout the United States as well as office space in a number of countries in Europe, the Middle East, and the Asia-Pacific region.

Our corporate headquarters occupies approximately 68,791 square feet in Sunnyvale, California under a lease that expires in 2025.

We also lease offices in California, Maryland, Missouri, Minnesota, Texas, Virginia, Oregon, and Washington, as well as locations internationally, including in Australia, Germany, India, Romania, Japan, Israel, Spain, the United Arab Emirates, Singapore, and the United Kingdom.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

As of January 31, [removed: 2021,] [added: 2022,] we had [removed: 24] [added: 34] holders of record of our Class A common stock and [removed: 98] [added: 84] holders of record of our Class B common stock.

The information required by this item with respect to our equity compensation plans is incorporated by reference to our Proxy Statement for the [removed: 2021] [added: 2022] Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission within 120 days of the fiscal year ended January 31, [removed: 2021.][added: 2022.]

On [removed: September 30, 2020,] [added: November 29, 2021,] we agreed to issue [removed: up to $5.3] [added: $10.7] million of shares of our Class A common stock, subject to service-based vesting and other conditions, to certain individual [removed: stockholders] [added: interest holders] of [removed: Preempt Security] [added: Secure Circle LLC (“SecureCircle”)] in connection with our acquisition of [removed: Preempt Security.][added: SecureCircle.]

We have presented below the cumulative total return to our stockholders between June 12, 2019 (the date our common stock commenced trading on the Nasdaq) through January 31, [removed: 2021] [added: 2022] in comparison to the Standard & Poor’s 500 [removed: Index and] [added: Index,] Standard & Poor Information Technology [added: Index, and the Nasdaq 100] Index.

All values assume a $100 initial investment and data for the Standard & Poor’s 500 [removed: Index and] [added: Index,] Standard & Poor Information Technology Index [added: and the Nasdaq 100 Index] assume reinvestment of dividends.

[removed: ][added: ]

| CrowdStrike Holdings, Inc. | | | | | | $ | 100.00 | | | | | $ | 153.57 | | | | | $ | 86.05 | | | | | $ | 105.33 | | | | | $ | 116.66 | | | | | $ | 195.17 | | | | | $ | 213.52 | | | | | $ | 372.07 | | [added: | | | $ | 359.50 | | | | | $ | 437.26 | | | | | $ | 485.86 | | | | | $ | 311.45 | |]

| S&P 500 | | | | | | $ | 100.00 | | | | | $ | 108.59 | | | | | $ | 111.22 | | | | | $ | 118.69 | | | | | $ | 107.71 | | | | | $ | 121.57 | | | | | $ | 122.02 | | | | | $ | 139.17 | | [added: | | | $ | 157.23 | | | | | $ | 165.88 | | | | | $ | 174.39 | | | | | $ | 171.58 | |]

| S&P Information Technology | | | | | | $ | 100.00 | | | | | $ | 112.77 | | | | | $ | 117.16 | | | | | $ | 134.13 | | | | | $ | 129.30 | | | | | $ | 156.64 | | | | | $ | 157.56 | | | | | $ | 183.94 | | [added: | | | $ | 199.27 | | | | | $ | 219.35 | | | | | $ | 231.50 | | | | | $ | 232.55 | |]

None.

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Company/ Index | | | | | | Base period 6/12/19 | | | | | | 7/31/19 | | | | | | 10/31/19 | | | | | | 1/31/20 | | | | | | 4/30/20 | | | | | | 7/31/20 | | | | | | 10/31/20 | | | | | | 1/31/21 | | | | | | 4/30/21 | | | | | | 7/31/21 | | | | | | 10/31/21 | | | | | | 1/31/22 | | |

| Nasdaq 100 | | | | | | $ | 100.00 | | | | | $ | 110.24 | | | | | $ | 113.85 | | | | | $ | 126.96 | | | | | $ | 127.41 | | | | | $ | 154.74 | | | | | $ | 157.13 | | | | | $ | 184.09 | | | | | $ | 197.77 | | | | | $ | 213.84 | | | | | $ | 226.94 | | | | | $ | 214.11 | |

On June 11, 2019, the SEC declared our registration statement on Form S-1 (File No. 333-231461) for our IPO effective.

There have been no material changes in the planned use of proceeds from our IPO as described in our final prospectus filed with the SEC on June 13, 2019.

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| Company/ Index | | | | | | June 12, 2019 | | | | | | July 31, 2019 | | | | | | October 31, 2019 | | | | | | January 31, 2020 | | | | | | April 30, 2020 | | | | | | July 31, 2020 | | | | | | October 31, 2020 | | | | | | January 31, 2021 | | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

The selected consolidated statements of operations data presented below for fiscal 2021, fiscal 2020, and fiscal 2019 and the consolidated balance sheets data as of January 31, 2021 and 2020 are derived from our audited consolidated financial statements that are included elsewhere in this Annual Report on Form 10-K.

The selected consolidated statements of operations data for fiscal 2018 and 2017 and the consolidated balance sheets data as of January 31, 2019, 2018, and 2017 have been derived from our audited consolidated financial statements that are not included elsewhere in this Annual Report on Form 10-K.

Our historical results are not necessarily indicative of the results that may be expected in the future.

Effective February 1, 2020, we adopted the Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) as discussed in Note 2, “Summary of Significant Accounting Policies” to our consolidated financial statements in this Annual Report on Form 10-K.

Prior periods were not retrospectively adjusted, and accordingly, the consolidated statements of operations for the years ended January 31, 2020, 2019, 2018, and 2017 and the consolidated balance sheets as of January 31, 2020, 2019, 2018, and 2017 were prepared using the prior lease accounting standard referred to as ASC Topic 840.

Effective February 1, 2019, the Company adopted ASU 2014-09, Revenue from Contracts with Customers (“ASC 606”) as discussed in Note 2, “Summary of Significant Accounting Policies” to our consolidated financial statements in this Annual Report on Form 10-K.

Prior periods were not retrospectively adjusted, and accordingly, the consolidated statement of operations data for the years ended January 31, 2019, 2018, and 2017 and the consolidated balance sheets data as of January 31, 2019, 2018, and 2017 were prepared using the prior revenue recognition standard referred to as ASC 605.

The selected consolidated financial data and other data set forth below should be read in conjunction with the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K.

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |

| | | | Year Ended January 31, | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | 2021 | | | | | | 2020 | | | | | | 2019 | | | | | | 2018 | | | | | | 2017 | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | (in thousands, except per share data) | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Consolidated Statement of Operations Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Revenue | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Subscription | | | $ | 804,670 | | | | | $ | 436,323 | | | | | $ | 219,401 | | | | | $ | 92,568 | | | | | $ | 37,895 | |

| Professional services | | | 69,768 | | | | | | 45,090 | | | | | | 30,423 | | | | | | 26,184 | | | | | | 14,850 | | |

| Total revenue | | | 874,438 | | | | | | 481,413 | | | | | | 249,824 | | | | | | 118,752 | | | | | | 52,745 | | |

| Cost of revenue | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Subscription (1)(2) | | | 185,212 | | | | | | 112,474 | | | | | | 69,208 | | | | | | 39,857 | | | | | | 24,378 | | |

| Professional services (1) | | | 44,333 | | | | | | 29,153 | | | | | | 18,030 | | | | | | 14,629 | | | | | | 9,628 | | |

| Total cost of revenue | | | 229,545 | | | | | | 141,627 | | | | | | 87,238 | | | | | | 54,486 | | | | | | 34,006 | | |

| Gross profit | | | 644,893 | | | | | | 339,786 | | | | | | 162,586 | | | | | | 64,266 | | | | | | 18,739 | | |

| Operating expenses | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Sales and marketing(1)(2) | | | 401,316 | | | | | | 266,595 | | | | | | 172,682 | | | | | | 104,277 | | | | | | 53,748 | | |

| Research and development(1)(2) | | | 214,670 | | | | | | 130,188 | | | | | | 84,551 | | | | | | 58,887 | | | | | | 39,145 | | |

| General and administrative(1)(3) | | | 121,436 | | | | | | 89,068 | | | | | | 42,217 | | | | | | 32,542 | | | | | | 16,402 | | |

| Total operating expenses | | | 737,422 | | | | | | 485,851 | | | | | | 299,450 | | | | | | 195,706 | | | | | | 109,295 | | |

| Loss from operations | | | (92,529) | | | | | | (146,065) | | | | | | (136,864) | | | | | | (131,440) | | | | | | (90,556) | | |

| Interest expense(4) | | | (1,559) | | | | | | (442) | | | | | | (428) | | | | | | (1,648) | | | | | | (615) | | |

| Other income (expense), net | | | 6,219 | | | | | | 6,725 | | | | | | (1,418) | | | | | | (1,473) | | | | | | (82) | | |

| Loss before provision for income taxes | | | (87,869) | | | | | | (139,782) | | | | | | (138,710) | | | | | | (134,561) | | | | | | (91,253) | | |

| Provision for income taxes | | | 4,760 | | | | | | 1,997 | | | | | | 1,367 | | | | | | 929 | | | | | | 87 | | |

| Net loss | | | $ | (92,629) | | | | | $ | (141,779) | | | | | $ | (140,077) | | | | | $ | (135,490) | | | | | $ | (91,340) | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Accretion of redeemable convertible preferred stock | | | — | | | | | | — | | | | | | — | | | | | | (5,853) | | | | | | (17,012) | | |

| Net loss attributable to Class A and Class B common stockholders, basic and diluted | | | $ | (92,629) | | | | | $ | (141,779) | | | | | $ | (140,077) | | | | | $ | (141,343) | | | | | $ | (108,352) | |

| Net loss per share attributable to Class A and Class B common stockholders, basic and diluted(5) | | | $ | (0.43) | | | | | $ | (0.96) | | | | | $ | (3.12) | | | | | $ | (3.38) | | | | | $ | (2.73) | |

| [Report of Independent Registered Public Accounting [removed: Firm](#i2ba7f4dc0530400e93278bb160a40255_91)] [added: Firm](#i23696c21edfb486ea3883eaec549c469_94) (PCAOB ID 238)] | | | [removed: [89](#i2ba7f4dc0530400e93278bb160a40255_91)] [added: [73](#i23696c21edfb486ea3883eaec549c469_94)] | | |

| [removed: [Consolidated] [added: Consolidated] Financial [removed: Statements:](#i2ba7f4dc0530400e93278bb160a40255_94)] [added: Statements] | | | | | |

| [Consolidated Balance Sheets as of January 31, [removed: 2021] [added: 2022] and [removed: 2020](#i2ba7f4dc0530400e93278bb160a40255_94)] [added: 2021](#i23696c21edfb486ea3883eaec549c469_97)] | | | [removed: [91](#i2ba7f4dc0530400e93278bb160a40255_94)] [added: [75](#i23696c21edfb486ea3883eaec549c469_97)] | | |

| [Consolidated Statements of Operations for the years ended January 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019](#i2ba7f4dc0530400e93278bb160a40255_97)] [added: 2020](#i23696c21edfb486ea3883eaec549c469_100)] | | | [removed: [92](#i2ba7f4dc0530400e93278bb160a40255_97)] [added: [76](#i23696c21edfb486ea3883eaec549c469_100)] | | |

| [Consolidated Statements of Comprehensive Loss for the years ended January 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019](#i2ba7f4dc0530400e93278bb160a40255_100)] [added: 2020](#i23696c21edfb486ea3883eaec549c469_103)] | | | [removed: [93](#i2ba7f4dc0530400e93278bb160a40255_100)] [added: [77](#i23696c21edfb486ea3883eaec549c469_103)] | | |

| [Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) for the years ended January 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019](#i2ba7f4dc0530400e93278bb160a40255_103)] [added: 2020](#i23696c21edfb486ea3883eaec549c469_106)] | | | [removed: [94](#i2ba7f4dc0530400e93278bb160a40255_103)] [added: [78](#i23696c21edfb486ea3883eaec549c469_106)] | | |

| [Consolidated Statements of Cash Flows for the years ended January 31, [removed: 2021, 2020] [added: 2022, 2021] and [removed: 2019](#i2ba7f4dc0530400e93278bb160a40255_106)] [added: 2020](#i23696c21edfb486ea3883eaec549c469_109)] | | | [removed: [95](#i2ba7f4dc0530400e93278bb160a40255_106)] [added: [79](#i23696c21edfb486ea3883eaec549c469_109)] | | |

| [Notes to Consolidated Financial [removed: Statements](#i2ba7f4dc0530400e93278bb160a40255_109)] [added: Statements](#i23696c21edfb486ea3883eaec549c469_112)] | | | [removed: [96](#i2ba7f4dc0530400e93278bb160a40255_109)] [added: [80](#i23696c21edfb486ea3883eaec549c469_112)] | | |

We have audited the accompanying consolidated balance sheets of CrowdStrike Holdings, Inc. and its subsidiaries (the “Company”) as of January 31, [removed: 2021] [added: 2022] and [removed: 2020,] [added: 2021,] and the related consolidated statements of operations, of comprehensive loss, of redeemable convertible preferred stock and stockholders’ equity (deficit) and of cash flows for each of the three years in the period ended January 31, [removed: 2021,] [added: 2022,] including the related notes (collectively referred to as the “consolidated financial statements”).

We also have audited the [removed: Company's] [added: Company’s] internal control over financial reporting as of January 31, [removed: 2021,] [added: 2022,] based on criteria established in [removed: *Internal] [added: Internal] Control - Integrated [removed: Framework*] [added: Framework] (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of January 31, [removed: 2021] [added: 2022] and [removed: 2020,] [added: 2021,] and the results of its operations and its cash flows for each of the three years in the period ended January 31, [removed: 2021] [added: 2022] in conformity with accounting principles generally accepted in the United States of America.

Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of January 31, [removed: 2021,] [added: 2022,] based on criteria established in [removed: *Internal] [added: Internal] Control - Integrated [removed: Framework*] [added: Framework] (2013) issued by the COSO.

As discussed in Note [removed: 2] [added: 1] to the consolidated financial statements, the Company changed the manner in which it accounts for leases in 2021 and the manner in which it accounts for revenues from contracts with customers in 2020.

*Revenue Recognition – Identification and Evaluation [removed: of] [added: for] Terms and Conditions in Contracts*

The Company’s consolidated revenue for the year ended January 31, [removed: 2021] [added: 2022] was [removed: $874] [added: $1,452] million.

| | | | [added: 2022 | | | | | |] 2021 | | | | | | 2020 | | |

| Cash and cash [removed: equivalents |] [added: equivalents, beginning of period] | | [removed: $] | 1,918,608 | | | | | [removed: $] | 264,798 | | [added: | | | | 88,408 | | |]

| Accounts receivable, net of allowance for [removed: doubtful accounts] [added: credit losses] of [removed: $1.2] [added: $1.6] million and [removed: $1.1] [added: $1.2] million as of January 31, [removed: 2021] [added: 2022] and January 31, [removed: 2020,] [added: 2021,] respectively | | | [removed: 239,199] [added: 368,145] | | | | | | [removed: 164,987] [added: 239,199] | | |

| Deferred contract acquisition costs, current | | | [removed: 80,850] [added: 126,822] | | | | | | [removed: 42,971] [added: 80,850] | | |

| Prepaid expenses and other current assets | | | [removed: 53,617] [added: 79,352] | | | | | | [removed: 51,614] [added: 53,617] | | |

| Total current assets | | | [removed: 2,292,274] [added: 2,570,952] | | | | | | [removed: 1,171,636] [added: 2,292,274] | | |

| [removed: Strategic] [added: Purchases of strategic] investments | | | [removed: 2,500] [added: (16,309)] | | | | | | [removed: 1,000] [added: (1,500)] | | | [added: | | | (1,000) | | |]

| Property and equipment, net | | | [removed: 167,014] [added: 260,577] | | | | | | [removed: 136,078] [added: 167,014] | | |

| Operating lease right-of-use assets | | | [removed: 36,484] [added: 31,735] | | | | | | [removed: —] [added: 36,484] | | |

| Deferred contract acquisition costs, noncurrent | | | [removed: 117,906] [added: 192,358] | | | | | | [removed: 71,235] [added: 117,906] | | |

| Goodwill | | | [removed: 83,566] [added: 416,445] | | | | | | [removed: 7,722] [added: 83,566] | | |

| Intangible assets, net | | | [removed: 15,677] [added: 97,336] | | | | | | [removed: 527] [added: 15,677] | | |

| Other long-term assets | | | [removed: 17,112] [added: 25,346] | | | | | | [removed: 16,708] [added: 17,112] | | |

| Total assets | | | $ | [removed: 2,732,533] [added: 3,618,381] | | | | | $ | [removed: 1,404,906] [added: 2,732,533] | |

| Accounts payable | | | $ | [removed: 12,065] [added: 47,634] | | | | | $ | [removed: 1,345] [added: 12,065] | |

| Accrued expenses | | | [removed: 51,117] [added: 83,382] | | | | | | [removed: 30,355] [added: 51,117] | | |

| Accrued payroll and benefits | | | [removed: 71,907] [added: 104,563] | | | | | | [removed: 36,810] [added: 71,907] | | |

| Operating lease liabilities, current | | | [removed: 8,977] [added: 9,820] | | | | | | [removed: —] [added: 8,977] | | |

| Deferred revenue | | | [removed: 701,988] [added: 1,136,502] | | | | | | [removed: 412,985] [added: 701,988] | | |

| Other current liabilities | | | [removed: 17,499] [added: 24,929] | | | | | | [removed: 11,601] [added: 17,499] | | |

| Total current liabilities | | | [removed: 863,553] [added: 1,406,830] | | | | | | [removed: 493,096] [added: 863,553] | | |

| Long-term debt | | | [removed: 738,029] [added: 739,517] | | | | | | [removed: —] [added: 738,029] | | |

| Deferred revenue, noncurrent | | | [removed: 209,907] [added: 392,819] | | | | | | [removed: 158,183] [added: 209,907] | | |

| Operating lease liabilities, noncurrent | | | [removed: 31,986] [added: 25,379] | | | | | | [removed: —] [added: 31,986] | | |

| Other liabilities, noncurrent | | | [removed: 17,184] [added: 16,193] | | | | | | [removed: 11,020] [added: 17,184] | | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

March 16, 2022

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| | | | 2022 | | | | | | 2021 | | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| Net income attributable to noncontrolling interest | | | 2,424 | | | | | | — | | | | | | — | | |

| Net loss attributable to CrowdStrike | | | $ | (234,802) | | | | | $ | (92,629) | | | | | $ | (141,779) | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| Less: Comprehensive income attributable to noncontrolling interest | | | 2,424 | | | | | | — | | | | | | — | | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| Issuance of common stock under RSU and PSU release | | | — | | | | | | — | | | | | | | | | 3,408 | | | | | | 2 | | | | | | (2) | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Issuance of common stock under employee stock purchase plan | | | — | | | | | | — | | | | | | | | | 904 | | | | | | — | | | | | | 50,277 | | | | | | — | | | | | | — | | | | | | — | | | | | | 50,277 | | |

| Issuance of common stock for founders holdbacks related to acquisitions | | | — | | | | | | — | | | | | | | | | 15 | | | | | | — | | | | | | 3,528 | | | | | | — | | | | | | — | | | | | | — | | | | | | 3,528 | | |

| Capitalized stock-based compensation | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | 10,879 | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,879 | | |

| Fair value of replacement equity awards attributable to pre-acquisition service | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | 4,011 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,011 | | |

| Net income (loss) | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | (234,802) | | | | | | — | | | | | | 2,424 | | | | | | (232,378) | | |

| Non-controlling interest | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | | | | | | | — | | | | | | 8,155 | | | | | | 8,155 | | |

| Balances at January 31, 2022 | | | — | | | | | | $ | — | | | | | | | | 230,706 | | | | | | $ | 115 | | | | | $ | 1,991,807 | | | | | $ | (964,918) | | | | | $ | (1,240) | | | | | $ | 11,879 | | | | | $ | 1,037,643 | |

[Table of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)

| Net loss | | | $ | (232,378) | | | | | $ | (92,629) | | | | | $ | (141,779) | |

| Deferred income taxes | | | (13,956) | | | | | | (1,452) | | | | | | (681) | | |

| Change in fair value of strategic investments | | | (4,823) | | | | | | — | | | | | | — | | |

| Accounts receivable, net | | | (125,354) | | | | | | (73,022) | | | | | | (72,511) | | |

| Payments of debt issuance costs related to Senior Notes | | | (1,581) | | | | | | — | | | | | | — | | |

The Company’s principal executive offices are in Austin, Texas.

Certain prior year amounts in the consolidated statements of cash flows were reclassified to conform to the current period presentation.

These reclassifications had no effect on net cash provided by (used in) operating, investing, and financing activities and cash and cash equivalent amounts.

Upon adoption, the Company recorded operating lease ROU assets of $37.4 million and corresponding operating lease liabilities of $37.4 million on its consolidated balance sheet.

| | | | 2022 | | | | | | 2021 | | |

_______________________________

As of January 31, 2022, the Company had $950.6 million of cash equivalents.

In December 2021, the Company agreed to commit an additional $50.0 million to a newly formed entity, CrowdStrike Falcon Fund II LLC (“Falcon Fund II”) in exchange for 50% of the sharing percentage of any distribution by the Falcon Fund II.

Under the measurement alternative, the non-marketable equity investments are measured at cost, less any impairment, plus or minus adjustments resulting from price changes from observable transactions of identical or similar securities of the

same issuer.

The Company has recognized an unrealized gain for its portion of ownership of the strategic investments in the amount of $2.4 million, net of gain attributable to non-controlling interest of $2.4 million, during the fiscal year ended January 31, 2022.

whereby the transfer of the services is separately identifiable from other promises in the contract.

The Company’s contracts with customers typically include a fixed amount of consideration and are generally non-cancellable and without any refund-type provisions.

Fixed fee contracts account for an immaterial portion of the Company’s revenue.

Compensation related to stock-based awards to employees and directors are measured and recognized in the Company’s consolidated statements of operations based on the fair value of the awards granted.

| --- | --- | --- | --- | --- | --- |

| [The supplementary financial information required by this Item 8, is included in Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, under the caption “Quarterly Results of Operations,” which is incorporated herein by reference.](#i2ba7f4dc0530400e93278bb160a40255_67) | | | [74](#i2ba7f4dc0530400e93278bb160a40255_67) | | |

March 18, 2021

| Marketable securities | | | — | | | | | | 647,266 | | |

| Balances at January 31, 2018 | | | 118,693 | | | | | | $ | 351,016 | | | | | | | | 44,231 | | | | | | $ | 22 | | | | | $ | 8,482 | | | | | $ | (378,948) | | | | | $ | 970 | | | | | $ | — | | | | | $ | (369,474) | |

| Cumulative effect of accounting change | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | 101 | | | | | | (101) | | | | | | — | | | | | | — | | | | | | — | | |

| Issuance of Series E and Series E-1 redeemable convertible preferred stock, net of issuance costs of $104 | | | 12,575 | | | | | | 206,896 | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Issuance of common stock | | | — | | | | | | — | | | | | | | | | 106 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Repurchase of stock options | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | (2,330) | | | | | | — | | | | | | — | | | | | | — | | | | | | (2,330) | | |

| Net loss | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | (140,077) | | | | | | — | | | | | | — | | | | | | (140,077) | | |

| Loss on disposal of fixed assets | | | 15 | | | | | | — | | | | | | 191 | | |

| Provision for bad debts | | | (544) | | | | | | 556 | | | | | | 551 | | |

| Accounts receivable | | | (72,478) | | | | | | (73,067) | | | | | | (33,413) | | |

| Other liabilities | | | 8,788 | | | | | | (298) | | | | | | 356 | | |

| Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | | | — | | | | | | — | | | | | | 206,896 | | |

| Repayment of loan payable | | | — | | | | | | — | | | | | | (6,158) | | |

| Proceeds from revolving line of credit | | | — | | | | | | — | | | | | | 10,000 | | |

| Repayment of revolving line of credit | | | — | | | | | | — | | | | | | (20,000) | | |

| Repayment of notes receivable from related parties | | | — | | | | | | — | | | | | | 198 | | |

| Payments of contingent consideration | | | — | | | | | | — | | | | | | (242) | | |

| Payments of indemnity holdback | | | — | | | | | | — | | | | | | (1,887) | | |

| Repurchase of stock options | | | — | | | | | | — | | | | | | (2,330) | | |

| Contingent consideration associated with business combinations | | | $ | — | | | | | $ | — | | | | | $ | 474 | |

The Company is headquartered in Sunnyvale, California.

Initial Public Offering

On June 14, 2019, the Company closed its initial public offering (“IPO”), in which it sold 20,700,000 shares of Class A common stock.

The shares were sold at a public offering price of $34.00 per share for net proceeds of $659.2 million, after deducting underwriters’ discounts and commissions and offering expenses of $44.8 million.

Immediately prior to the closing of the IPO, all outstanding shares of redeemable convertible preferred stock automatically converted into 131,267,586 shares of Class B common stock on a one-to-one basis.

Additionally, in connection with the IPO all of the Company’s outstanding common stock was reclassified into shares of Class B common stock on a one-for-one basis.

Redeemable convertible preferred stock warrants also converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis.

Effective February 1, 2019, the Company adopted the Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“ASC 606”) as discussed in Note 2 below.

Prior periods were not retrospectively recast, and accordingly, the consolidated statements of operations for the year ended January 31, 2019 was prepared using the prior revenue recognition standard referred to as ASC 605.

The Company limits its concentration of risk in cash equivalents and marketable securities by diversifying its investments among a variety of industries and issuers.

| Channel partner C(1) | | | 10 | | % | | | | 3 | | % |

______________________________

| Channel partner A | | | 8 | | % | | | | 10 | | % | | | | 15 | | % |

As of January 31, 2021, the Company did not have any cash equivalents or marketable securities.

Cash equivalents as of January 31, 2020 consisted of corporate debt securities and money market funds stated at fair value.

The Company classifies investments in marketable securities as available-for-sale securities at the time of purchase and re-evaluates the designations as of each balance sheet date.

The Company classifies its available-for-sale securities as short-term investments based on their nature and their availability for use in current operations.

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures as of January 31, [removed: 2021.][added: 2022.]

Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of January 31, [removed: 2021] [added: 2022] based on the criteria established in *Internal Control - Integrated Framework* (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Based on the results of its evaluation, management concluded that our internal control over financial reporting was effective as of January 31, [removed: 2021.][added: 2022.]

The effectiveness of our internal control over financial reporting as of January 31, [removed: 2021] [added: 2022] has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in its report which is included in [added: Part II,] Item 8 of this [added: Annual Report on] Form 10-K.

There was no change in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and Rule 15d-15(d) of the Exchange Act that occurred during the fiscal quarter ended January 31, [removed: 2021] [added: 2022] that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Further, the design of a control system must reflect the fact that there are resource constraints, and [added: the benefits of controls must be considered relative to their costs.]

CrowdStrike Holdings, Inc.

Notes to Consolidated Financial Statements

the benefits of controls must be considered relative to their costs.

PART III

Not applicable.

PART III

The information otherwise required by this Item will be included in our definitive proxy statement for our [removed: 2021] [added: 2022] annual meeting of stockholders (the [removed: “2021] [added: “2022] Proxy Statement”), which will be filed with the SEC within 120 days after the end of our fiscal year ended January 31, [removed: 2021,] [added: 2022,] and is incorporated herein by reference.

The information required by this item is incorporated herein by reference to our [removed: 2021] [added: 2022] Proxy Statement.

The information required by this item is incorporated herein by reference to our [removed: 2021] [added: 2022] Proxy Statement.

The information required by this item is incorporated herein by reference to our [removed: 2021] [added: 2022] Proxy Statement.

The information required by this item is incorporated herein by reference to our [removed: 2021] [added: 2022] Proxy Statement.

See Index to [removed: Consolidated Financial Statements] [added: consolidated financial statements] in [added: Part II,] Item 8 of this Annual Report on Form 10-K.

| [removed: [10.3](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000019/ex-101formofdirectoran.htm)] [added: [10.3†](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000019/ex-101formofdirectoran.htm)] | | | | | | [Form of Global Restricted Stock Unit Agreement Outside Directors – Annual Grant under the Company’s 2019 Equity Incentive Plan](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000019/ex-101formofdirectoran.htm) | | | 10-Q | | | 001-38933 | | | 10.1 | | | September 3, 2020 | | | | | |

| [removed: [10.4](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/exhibit104_crwd-directorin.htm)] [added: [10.4†](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/exhibit104_crwd-directorin.htm)] | | | | | | [Form of Global Restricted Stock Unit Agreement Outside Directors – Initial Grant under the Company’s 2019 Equity Incentive [removed: Plan](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/exhibit104_crwd-directorin.htm)] [added: Plan](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/exhibit104_crwd-directorin.htm)] | | | [added: 10-K] | | | [added: 001-38933] | | | [added: 10.4] | | | [added: March 18, 2021] | | | [removed: X] | | |

| [removed: [10.5](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000012/crwd-20200430xex101.htm)] [added: [10.5†](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000012/crwd-20200430xex101.htm)] | | | | | | [CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan Global Performance Unit Agreement](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000012/crwd-20200430xex101.htm) | | | 10-Q | | | 001-38933 | | | 10.1 | | | June 3, 2020 | | | | | |

| [removed: [10.7†](http://www.sec.gov/Archives/edgar/data/1535527/000104746919003341/a2238881zex-10_3.htm)] [added: [10.7†](http://www.sec.gov/Archives/edgar/data/0001535527/000153552721000022/crowdstrike-2019espp.htm)] | | | | | | [removed: [2019] [added: [Amended and Restated 2019] Employee Stock Purchase Plan and related form [removed: agreements.](http://www.sec.gov/Archives/edgar/data/1535527/000104746919003341/a2238881zex-10_3.htm)] [added: agreements.](http://www.sec.gov/Archives/edgar/data/0001535527/000153552721000022/crowdstrike-2019espp.htm)] | | | [removed: S-1/A] [added: 10-Q] | | | [removed: 333-231461] [added: 001-38933] | | | [removed: 10.3] [added: 10.2] | | | [removed: May 29, 2019] [added: September 1, 2021] | | | | | |

| [10.8†](http://www.sec.gov/Archives/edgar/data/0001535527/000110465921035670/tm219494d1_ex99-1.htm) | | | | | | [CrowdStrike [added: Holdings, Inc.] Corporate Incentive Plan.](http://www.sec.gov/Archives/edgar/data/0001535527/000110465921035670/tm219494d1_ex99-1.htm) | | | 8-K | | | 001-38933 | | | 99.1 | | | March 12, 2021 | | | | | |

| [10.16](http://www.sec.gov/Archives/edgar/data/1535527/000153552719000011/crowdstrikefourthamendme.htm) | | | | | | [Fourth Amendment to Office Lease between SPF Mathilda, LLC and CrowdStrike, Inc., dated August 16, [removed: 2019](http://www.sec.gov/Archives/edgar/data/1535527/000153552719000011/crowdstrikefourthamendme.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1535527/000153552719000011/crowdstrikefourthamendme.htm)] | | | 10-Q | | | 001-38933 | | | 10.1 | | | December 6, 2019 | | | | | |

| [10.17](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000006/crwd_sunnyvale5thamend10.htm) | | | | | | [Fifth Amendment to Office Lease between SPF Mathilda, LLC and CrowdStrike, Inc., dated October 2, [removed: 2019](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000006/crwd_sunnyvale5thamend10.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1535527/000153552720000006/crwd_sunnyvale5thamend10.htm)] | | | 10-K | | | 001-38933 | | | 10.14 | | | March 23, 2020 | | | | | |

| [removed: [10.19](http://www.sec.gov/Archives/edgar/data/1535527/000110465921000959/tm2039203d4_ex10-1.htm)] [added: [10.20](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1020_crowdstrikexarcred.htm)] | | | | | | [Amended and Restated Credit Agreement dated as of January 4, [removed: 2021] [added: 2021, as amended on January 6, 2022] among CrowdStrike Holdings, Inc., as guarantor, CrowdStrike, Inc. as borrower, and Silicon Valley Bank and the other lenders party [removed: thereto.](http://www.sec.gov/Archives/edgar/data/1535527/000110465921000959/tm2039203d4_ex10-1.htm)] [added: thereto.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1020_crowdstrikexarcred.htm)] | | | [removed: 8-K] | | | [removed: 001-38933] | | | [removed: 10.1] | | | [removed: January 5, 2021] | | | [added: X] | | |

| [removed: [21.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx211.htm)] [added: [21.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx211.htm)] | | | | | | [List of [removed: subsidiaries] [added: Subsidiaries] of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx211.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx211.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [23.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx231.htm)] [added: [23.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx231.htm)] | | | | | | [Consent of PricewaterhouseCoopers LLC, independent registered public accounting [removed: firm.](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx231.htm)] [added: firm.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx231.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [24.1](#i2ba7f4dc0530400e93278bb160a40255_202)] [added: [24.1](#i23696c21edfb486ea3883eaec549c469_217)] | | | | | | [Power of Attorney (reference is made to the signature page [removed: hereto).](#i2ba7f4dc0530400e93278bb160a40255_202)] [added: hereto).](#i23696c21edfb486ea3883eaec549c469_217)] | | | | | | | | | | | | | | | X | | |

| [removed: [31.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx311.htm)] [added: [31.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx311.htm)] | | | | | | [Certification of the Principal Executive Officer pursuant to Exchange Act Rules 13a14(a) and 15d14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx311.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx311.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [31.2](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx312.htm)] [added: [31.2](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx312.htm)] | | | | | | [Certification of the Principal Financial Officer pursuant to Exchange Act Rules 13a14(a) and 15d14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx312.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx312.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [32.1*](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx321.htm)] [added: [32.1*](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx321.htm)] | | | | | | [Certification of the Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000007/crwd-20210131xexx321.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx321.htm)] | | | | | | | | | | | | | | | X | | |

Pursuant to the requirements of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in [removed: Sunnyvale, California,] [added: Austin, Texas,] on the day of March [removed: 18, 2021.][added: 16, 2022.]

KNOW ALL THESE PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints George [removed: Kurtz,] [added: Kurtz and] Burt W.

Podbere, and [removed: Abhishek Maheshwari, and] each of them, as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this Annual Report on Form 10-K, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their, his or her substitutes, may lawfully do or cause to be done by virtue thereof.

| /s/ George Kurtz | | | | | | President, Chief Executive Officer, and Director (Principal Executive Officer) | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Burt W. Podbere | | | | | | Chief Financial Officer (Principal Financial [added: Officer and Principal Accounting] Officer) | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Gerhard Watzinger | | | | | | Chairman of the Board of Directors | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Cary J. Davis | | | | | | Director | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Denis J. O’Leary | | | | | | Director | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Godfrey R. Sullivan | | | | | | Director | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Laura J. Schumacher | | | | | | Director | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Roxanne S. Austin | | | | | | Director | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| /s/ Sameer K. Gandhi | | | | | | Director | | | | | | March [removed: 18, 2021] [added: 16, 2022] | | |

| [10.9†](http://www.sec.gov/Archives/edgar/data/0001535527/000110465921089005/tm2121414d1_ex10-1.htm) | | | | | | [Outside Director Compensation Policy, as amended on June 30, 2021.](http://www.sec.gov/Archives/edgar/data/0001535527/000110465921089005/tm2121414d1_ex10-1.htm) | | | 8-K | | | 001-38933 | | | 10.1 | | | July 2, 2021 | | | | | |

| [10.18](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1018_crowdstrikeaustinl.htm) | | | | | | [Office Lease Agreement between EQC Capitol Tower Property LLC and CrowdStrike, Inc., dated April 20, 2018](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1018_crowdstrikeaustinl.htm)[.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1018_crowdstrikeaustinl.htm) | | | | | | | | | | | | | | | X | | |

| [10.19](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1019_crowdstrikeaustin1.htm) | | | | | | [First Amendment to Office Lease Agreement between EQC Capitol Tower Property LLC and CrowdStrike, Inc., dated June 6, 2019.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1019_crowdstrikeaustin1.htm) | | | | | | | | | | | | | | | X | | |

| [10.21†](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/gk-specialpsuawardagreemen.htm) | | | | | | [Amended and Restated Performance Unit Agreement with George Kurtz, dated](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/gk-specialpsuawardagreemen.htm) [September 1, 2021, under the CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan.](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/gk-specialpsuawardagreemen.htm) | | | 10-Q | | | 001-38933 | | | 10.4 | | | September 1, 2021 | | | | | |

| [10.22†](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/crowdstrike-ceocicandsever.htm) | | | | | | [Change in Control and Severance Agreement, dated as of September 1, 2021, by and between CrowdStrike Holdings, Inc. and George Kurtz.](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/crowdstrike-ceocicandsever.htm) | | | 10-Q | | | 001-38933 | | | 10.3 | | | September 1, 2021 | | | | | |

| [10.23†](http://www.sec.gov/Archives/edgar/data/1535527/000110465922004504/tm222862d1_ex10-1.htm) | | | | | | [Performance Unit Agreement with Burt Podbere, dated January 12, 2022, under the CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan.](http://www.sec.gov/Archives/edgar/data/1535527/000110465922004504/tm222862d1_ex10-1.htm) | | | 8-K | | | 001-38933 | | | 10.1 | | | January 14, 2022 | | | | | |

| [10.24†](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000013/a101_carpentermupdated.htm) | | | | | | [Offer Letter between the Registrant and Michael Carpenter, dated as of October 25, 2016.](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000013/a101_carpentermupdated.htm) | | | 10-Q | | | 001-38933 | | | 10.1 | | | June 4, 2021 | | | | | |

| [10.25†](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000013/a102_henrysupdated.htm) | | | | | | [Offer Letter between the Registrant and Shawn Henry, dated as of March 4, 2012.](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000013/a102_henrysupdated.htm) | | | 10-Q | | | 001-38933 | | | 10.2 | | | June 4, 2021 | | | | | |

| [10.9†](http://www.sec.gov/Archives/edgar/data/1535527/000104746919003341/a2238881zex-10_5.htm) | | | | | | [Outside Director Compensation Plan.](http://www.sec.gov/Archives/edgar/data/1535527/000104746919003341/a2238881zex-10_5.htm) | | | S-1/A | | | 333-231461 | | | 10.5 | | | May 29, 2019 | | | | | |

| [10.18](http://www.sec.gov/Archives/edgar/data/1535527/000104746919003095/a2238800zex-10_13.htm) | | | | | | [Sublease by and between CrowdStrike, Inc. and Knowles Electronics, LLC, dated December 17, 2015.](http://www.sec.gov/Archives/edgar/data/1535527/000104746919003095/a2238800zex-10_13.htm) | | | S-1 | | | 333-231461 | | | 10.13 | | | May 14, 2019 | | | | | |

| | | | | | | | | | | | | | | |

| | | | | | | | | | | | | | | |

| /s/ Abhishek Maheshwari | | | | | | Chief Accounting Officer (Principal Accounting Officer) | | | | | | March 18, 2021 | | |

| Abhishek Maheshwari | | | | | | | | | | | | | | |

| /s/ Joseph E. Sexton | | | | | | Director | | | | | | March 18, 2021 | | |

| Joseph E. Sexton | | | | | | | | | | | | | | |