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

This summary is not complete, and should be read together with the entire section titled “Risk Factors” in this Annual Report on [removed: Form 10-K, as well as the other information in this Annual Report on Form 10-K and the other filings that we make with the SEC.]

[removed: - The] [added: Public health crises, such as the] COVID-19 pandemic could adversely affect [removed: global economic conditions and] our business, operating results and future [removed: revenue.][added: revenue.]

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For example, our headcount grew from [removed: 2,309] [added: 3,394] employees as of January 31, [removed: 2020,] [added: 2021,] to [removed: 4,965] [added: 7,273] employees as of January 31, [removed: 2022.][added: 2023.]

We experienced net losses of [removed: $234.8] [added: $183.2] million, [removed: $92.6] [added: $234.8] million, and [removed: $141.8] [added: $92.6] million for fiscal [removed: 2022,] [added: 2023,] fiscal [removed: 2021,] [added: 2022,] and fiscal [removed: 2020,] [added: 2021,] respectively.

As of January 31, [removed: 2022,] [added: 2023,] we had an accumulated deficit of [removed: $964.9 million.][added: $1.1 billion.]

[added: 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: The] [added: We are subject to public health crises, such as the] COVID-19 [removed: pandemic] [added: pandemic, which has impacted and] continues to impact worldwide economic activity and financial markets.

[removed: In light of the uncertain and rapidly evolving situation relating to the spread of COVID-19, we] [added: We] have [added: previously] taken [added: and may in the future take] precautionary measures intended to mitigate the spread of the [added: COVID-19] virus and minimize the risk to our employees, customers, partners, and the communities in which we [removed: operate.][added: operate to respond to developments relating to the pandemic, including developments relating to infection rates, disease variants, vaccination progress and efficacy, and evolving public health guidance.]

These [removed: precautionary] measures [removed: could] [added: could, for example,] negatively affect our customer success efforts, delay and lengthen our sales cycles, impact our sales and marketing efforts, [removed: reduce employee efficiency and productivity, 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.

In addition, [removed: the COVID-19 pandemic] [added: public health crises] may disrupt the operations of our customers and partners for an indefinite period of time.

Some of our customers have been negatively impacted by the COVID-19 [removed: pandemic] [added: pandemic,] which could result in delays in accounts receivable collection, or result in decreased technology spending which could negatively affect our revenues.

[removed: More generally, the COVID-19 pandemic has adversely affected economies and financial markets globally, and continued uncertainty] [added: Uncertainty caused by public health crises] could lead to [removed: a] prolonged economic [removed: downturn,] [added: downturns,] which could result in a larger customer churn than we [removed: currently] [added: can] anticipate and [removed: reduced] [added: reduce] demand for our products and services, in which case our revenues could be significantly impacted.

The [added: lasting] impact of the [added: public health crises, including the] COVID-19 [removed: pandemic] [added: pandemic,] may also exacerbate other risks discussed in this “Risk Factors” section and elsewhere in this Annual Report on Form 10-K.

As such, it is difficult to predict its potential growth, if any, customer adoption and retention rates, customer demand for our solutions, [added: customer consolidation on our platform,] or the success of existing competitive products.

Furthermore, if we or other SaaS security providers experience security incidents, loss or disclosure of customer data, disruptions in delivery, or other problems, the market for SaaS solutions as a [removed: whole, including our security solutions, could be negatively affected.]

For example, any deterioration in general economic conditions, including [added: as] a [removed: downturn due to] [added: result of] the [added: geopolitical environment, the] outbreak of diseases such as [removed: COVID-19,] [added: COVID-19 or inflation (as well as government policies such as raising interest rates in response to inflation), have in the past and] may [added: in the future] cause our current and prospective customers to [added: delay or] cut their overall security and IT operations spending, and such [added: delays or] cuts may fall disproportionately on cloud-based security solutions like ours.

Economic weakness, customer financial difficulties, and constrained spending on security and IT operations may result in decreased revenue, reduced sales, [added: an increase in multi-phase subscription start dates, shorter terms for customer subscriptions,] lengthened sales cycles, increased churn, lower demand for our products, and adversely affect our results of operations and financial conditions.

In addition, [removed: our] customers [added: that previously signed multi-year subscription contracts] may renew for shorter contract subscription [removed: lengths or] [added: lengths, and customers may] cease using certain cloud [removed: modules.][added: modules altogether.]

Our customer retention and expansion may decline or fluctuate as a result of a number of factors, including our customers’ satisfaction with our services, our pricing, customer security and networking issues and requirements, our customers’ spending levels, decreases in the number of endpoints to which our customers deploy our solutions, mergers and acquisitions involving our customers, industry developments, competition and general economic [added: and geopolitical] conditions.

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 [added: introductions of new or improved products to combat security threats.]

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

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

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

- professional service [removed: providers, such as Mandiant and Microsoft Corporation,] [added: providers] who offer cybersecurity response services.

If our [added: or our service providers’] internal networks, systems, or data are or are perceived to have been compromised, our reputation may be damaged and our financial results may be negatively affected.

We also utilize third-party service providers [removed: to] [added: to, among other things,] host, transmit, or otherwise process electronic data in connection with our business activities, including our supply chain, operations, and communications.

A successful attack or other incident that [removed: compromises our or our customers’ data or] results in an interruption of service [added: or that compromises our or our service providers’ internal networks, systems, or data] could have a significant negative effect on our operations, reputation, financial resources, and the value of our intellectual property.

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, any or all of which could [removed: damage our relationships with our existing customers and could have a negative effect on our ability to attract and retain new customers.]

[added: 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.

Our results of operations have varied significantly from period to period, and we expect that [added: 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:]

- the amount and timing of operating costs and capital expenditures related to the expansion of our business; [removed: and]

- increases or decreases in our expenses caused by fluctuations in foreign currency exchange [removed: rates.][added: rates; and]

In addition, we also experience seasonality in our operating margin, [added: typically] with a lower margin in the first half of our fiscal year.

Our revenue recognition is difficult to predict because of the length and unpredictability of the sales cycle for our Falcon [removed: platform, particularly with respect to large organizations and government entities.][added: platform.]

Large enterprises and government entities in particular often undertake a significant evaluation process that further lengthens [added: and adds uncertainty to] our sales cycle.

[removed: Our solutions may fail to detect or prevent threats in any particular] test for a number of reasons that may or may not be related to the efficacy of our solutions in real world environments.

[removed: A] [added: The] vast majority of sales of our Falcon platform flow through our channel partners, and we expect this to continue for the foreseeable future.

We derived approximately [removed: 28%,] [added: 30%,] 28%, and [removed: 26%] [added: 28%] of our total revenue from our international customers for fiscal [added: 2023, fiscal] 2022, [added: and] fiscal 2021, [removed: 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 FCPA, the U.S. Travel Act and the [removed: UK] [added: U.K.] Bribery Act 2010, or Bribery Act, violations of which could lead to significant fines, penalties, and collateral consequences for our company;

Form 10-K, as well as the other information in this Annual Report on Form 10-K and the other filings that we make with the SEC.

- Our sales cycles can be long and unpredictable, and our sales efforts require considerable time and expense,

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whole, including our security solutions, could be negatively affected.

Furthermore, we may need to exercise more flexibility in customer payment terms as customers navigate a more challenging economic environment.

Even if customers choose to renew their subscription of certain cloud modules, they may decline to purchase additional cloud modules or choose not to consolidate onto our Falcon platform.

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In addition, uncertain economic conditions may lead to additional scrutiny of budgets by current and prospective customers, which has resulted in, for example, longer sales cycles for products and services, and may result in shifting demand for IT products and services, and slower adoption of new technologies.

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damage our relationships with our existing customers and could have a negative effect on our ability to attract and retain new customers.

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- economic difficulties confronting our customers, which may impact the number of modules or endpoint deployments they are willing or able to purchase;

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- significant natural disasters and other catastrophic events, including the occurrence of a contagious disease or illness, such as COVID-19.

Furthermore, our business and revenues are impacted by global economic and geopolitical conditions.

Volatile financial markets, inflation, rising interest rates, supply chain challenges, political turmoil and other disruptions to global and regional economies and markets continue to add uncertainty to macroeconomic conditions.

Any continued or further uncertainty, weakness or deterioration in economic conditions or the geopolitical environment could harm our business and results of operations.

Our solutions may fail to detect or prevent threats in any particular

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More generally, the COVID-19 pandemic adversely affected economies and financial markets globally.

The efforts we have taken to protect our

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For example, in March 2022, Webroot, Inc. and Open Text, Inc. filed a lawsuit against us alleging that certain of our products infringe on patents held by them.

If we are prevented from using certain technology or

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Additionally, we may be unable to continue to offer our affected services or features while developing such technology.

Additionally, we may be unable to continue to offer our affected products, subscriptions or services, while developing such technology.

Any such judgment or settlement could also require us to pay substantial damages, royalties or other fees.

The CCPA also prohibits covered businesses

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At least four such laws, in Virginia, Colorado, Connecticut, and Utah, have taken effect, or are scheduled to take effect, in 2023.

While the GDPR and U.K. GDPR remain substantially similar for the time being, the U.K. government has announced that it would seek to chart its own path on data protection and reform its relevant laws, including in ways that may differ from the GDPR.

While we have experienced

The COVID-19 pandemic could adversely affect our business, operating results and future revenue.

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.

Moreover, due to our subscription-based business model, the effect of the COVID-19 pandemic may not be fully reflected in our results of operations until future periods, if at all.

It is not possible at this time to estimate the impact that the COVID-19 pandemic could have on our business, as the impact will depend on future developments, which are highly uncertain and cannot be predicted.

introductions of new or improved products to combat security threats.

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

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:

- the impact of the COVID-19 pandemic on our operations, financial results, and liquidity and capital resources, including on customers, sales, expenses, and employees;

- general economic conditions, both domestic and in our foreign markets;

projects to maintain the levels of service required by our customers.

For example, we are currently involved in proceedings before the Trademark Trial and Appeal Board at the U.S. Patent and Trademark Office regarding our U.S. trademark registrations for CrowdStrike Falcon and our U.S. application to register our Falcon OverWatch trademark.

Fair Isaac Corporation, or FICO, petitioned to cancel our trademark registrations and opposed our application.

If the appeal board were to find against us, it would cancel our trademark registrations for CrowdStrike Falcon and reject our application to register Falcon OverWatch.

If FICO were to file an infringement action in court and if we do not prevail in that action, we could ultimately be required to change the names of our solutions, which would force us to incur significant marketing expense in establishing an alternative brand to our existing Falcon brand.

We cannot assure you that we will be successful in these rebranding efforts.

parties.

information, including federal and state data privacy laws, data breach notification laws, and data disposal laws.

Additionally, in November 2020, California voters passed the California Privacy Rights Act of 2020 (“CPRA”).

Effective in most material respects starting on January 1, 2023, the CPRA imposes additional obligations on companies covered by the legislation and will significantly modify the CCPA, including by expanding the CCPA with additional data privacy compliance requirements that may impact our business.

The CPRA also establishes a regulatory agency dedicated to enforcing the CCPA and the CPRA.

If we or our employees, representatives, contractors, channel partners, agents, intermediaries, or other third parties fail to comply with these laws and regulations, we could be subject to civil or criminal penalties, including the possible loss of export privileges and fines.

We may also be adversely affected through reputational harm, loss of access to certain markets, or otherwise.

these third-party business partners and intermediaries, our employees, representatives, contractors, channel partners, agents, intermediaries, and other third parties, even if we do not explicitly authorize such activities.

companies have failed to meet, or significantly exceed, the financial guidance publicly announced by the companies or the expectations of analysts.

Most recently, 137 jurisdictions joined a two-pillar plan to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate.

In addition, we may experience additional volatility to our statements of operations due to changes in market prices of our

The outbreak of a contagious disease like COVID-19 has, among other things, prompted responses such as government-imposed travel restrictions, the grounding of flights, and the shutdown of workplaces.

This section of this Form 10-K generally discusses fiscal [removed: 2022] [added: 2023] and [removed: 2021] [added: 2022] items and year-over-year comparisons between fiscal [removed: 2022] [added: 2023] and [removed: 2021.][added: 2022.]

Discussions of fiscal [removed: 2020] [added: 2021] items and year-over-year comparisons between fiscal [removed: 2021] [added: 2022] and [removed: 2020] [added: 2021] 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, [removed: 2021.][added: 2022.]

Our fiscal years ended January 31, [removed: 2022,] [added: 2023,] January 31, [removed: 2021,] [added: 2022,] and January 31, [removed: 2020,] [added: 2021,] are referred to herein as fiscal [removed: 2022,] [added: 2023,] fiscal [removed: 2021,] [added: 2022,] and fiscal [removed: 2020,] [added: 2021,] respectively.*

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

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[added: 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.

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

| | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2021] [added: 2022] | | | | | | [removed: 2020] [added: 2021] | | |

| Subscription customers | | | [removed: 16,325] [added: 23,019] | | | | | | [removed: 9,896] [added: 16,325] | | | | | | [removed: 5,431] | | |

| Year-over-year growth | | | [removed: 65] [added: 41] | | % | | | | [removed: 82] [added: 65] | | % | | | | [removed: 116] | | [removed: %] |

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

| Annual recurring revenue | | | $ | [removed: 1,731,342] [added: 2,559,694] | | | | | $ | [removed: 1,050,051] [added: 1,731,342] | | | | | [removed: $] | [removed: 600,456] | |

| Year-over-year growth | | | [removed: 65] [added: 48] | | % | | | | [removed: 75] [added: 65] | | % | | | | [removed: 92] | | [removed: %] |

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

Our dollar-based net retention rate was above 120% throughout fiscal years [removed: 2022, 2021] [added: 2023] and [removed: 2020.][added: 2022.]

| Dollar-based net retention rate | | | [removed: 123.9] [added: 125.3] | | % | | | | [removed: 124.8] [added: 123.9] | | % | | | | [removed: 123.5] | | [removed: %] |

Our dollar-based net retention rate has varied from quarter to quarter due to a number of [removed: factors] [added: factors,] and we expect that trend to continue.

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

Our operating expenses consist of sales and marketing, research and [removed: development] [added: development,] and general administrative expenses.

For each of these categories of expense, employee-related expenses are the most significant component, which include salaries, [removed: employee bonuses, sales commissions, and employer payroll tax.]

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

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

*Other Income, Net.* Other income, net, consists primarily of [removed: income earned on our cash and cash equivalents, if any;] gain [added: and losses] on strategic investments and foreign currency transaction gains and losses.

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

We maintain a full valuation allowance on our U.S. federal and state and [removed: UK] [added: U.K.] deferred tax [removed: assets that] [added: assets, which] we have determined are not realizable on a more likely than not basis.

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

| Subscription | | | $ | [removed: 1,359,537] [added: 2,111,660] | | | | | $ | [removed: 804,670] [added: 1,359,537] | | | | | $ | [removed: 436,323] [added: 804,670] | |

| Professional services | | | [removed: 92,057] [added: 129,576] | | | | | | [removed: 69,768] [added: 92,057] | | | | | | [removed: 45,090] [added: 69,768] | | |

| Total revenue | | | [removed: 1,451,594] [added: 2,241,236] | | | | | | [removed: 874,438] [added: 1,451,594] | | | | | | [removed: 481,413] [added: 874,438] | | |

| Subscription | | | [removed: 321,904] [added: 511,684] | | | | | | [removed: 185,212] [added: 321,904] | | | | | | [removed: 112,474] [added: 185,212] | | |

| Professional services | | | [removed: 61,317] [added: 89,547] | | | | | | [removed: 44,333] [added: 61,317] | | | | | | [removed: 29,153] [added: 44,333] | | |

| Total cost of revenue | | | [removed: 383,221] [added: 601,231] | | | | | | [removed: 229,545] [added: 383,221] | | | | | | [removed: 141,627] [added: 229,545] | | |

| Gross profit | | | [removed: 1,068,373] [added: 1,640,005] | | | | | | [removed: 644,893] [added: 1,068,373] | | | | | | [removed: 339,786] [added: 644,893] | | |

| Sales and marketing | | | [removed: 616,546] [added: 904,409] | | | | | | [removed: 401,316] [added: 616,546] | | | | | | [removed: 266,595] [added: 401,316] | | |

| Research and development | | | [removed: 371,283] [added: 608,364] | | | | | | [removed: 214,670] [added: 371,283] | | | | | | [removed: 130,188] [added: 214,670] | | |

| General and administrative | | | [removed: 223,092] [added: 317,344] | | | | | | [removed: 121,436] [added: 223,092] | | | | | | [removed: 89,068] [added: 121,436] | | |

| Total operating expenses | | | [removed: 1,210,921] [added: 1,830,117] | | | | | | [removed: 737,422] [added: 1,210,921] | | | | | | [removed: 485,851] [added: 737,422] | | |

| Loss from operations | | | [removed: (142,548)] [added: (190,112)] | | | | | | [removed: (92,529)] [added: (142,548)] | | | | | | [removed: (146,065)] [added: (92,529)] | | |

| Interest expense | | | [removed: (25,231)] [added: (25,319)] | | | | | | [removed: (1,559)] [added: (25,231)] | | | | | | [removed: (442)] [added: (1,559)] | | |

| Other income, net | | | [removed: 7,756] [added: —] | | [added: %] | | | | [removed: 6,219] [added: —] | | [added: %] | | | | [removed: 6,725] [added: —] | | [added: %] |

| | | | 2023 | | | | | | 2022 | | | | | | | | |

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We added 6,694 net new subscription customers during fiscal 2023, for a total of 23,019 subscription customers as of January 31, 2023, representing 41% growth year-over-year.

Given our initiatives to grow customers served through our managed service security provider partners, which are not included in our subscription customer metrics, and to move further down-market, as well as the growing number of smaller end customers that we serve, which tend to contribute significantly less ARR on a per customer basis when compared to larger enterprises, we believe that our subscription customer metric no longer provides valuable insight into the performance of our business.

As a result, beginning in the first quarter of fiscal 2024, we will no longer provide a number of subscription customers as a key metric on which to evaluate the strength of our business.

| | | | 2023 | | | | | | 2022 | | | | | | | | |

ARR increased 48% year-over-year and grew to $2.6 billion as of January 31, 2023, of which $828.4 million was net new ARR added during fiscal 2023.

| | | | 2023 | | | | | | 2022 | | | | | | | | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

employee bonuses, sales commissions, and employer payroll tax.

We also capitalize and amortize any such expenses paid for the renewal of a subscription over the term of the renewal.

*Interest Income.* Interest income consists primarily of income earned on our cash and cash equivalents and short-term investments.

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| Interest income | | | 52,495 | | | | | | 3,788 | | | | | | 4,968 | | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

| Interest income | | | 2 | | % | | | | — | | % | | | | 1 | | % |

| | | | | | | | | | | | | | | | Change | | | | | | | | |

| | | | 2023 | | | | | | 2022 | | | | | | $ | | | | | | % | | |

| Subscription | | | $ | 2,111,660 | | | | | $ | 1,359,537 | | | | | $ | 752,123 | | | | | 55 | | % |

| Professional services | | | 129,576 | | | | | | 92,057 | | | | | | 37,519 | | | | | | 41 | | % |

| Total revenue | | | $ | 2,241,236 | | | | | $ | 1,451,594 | | | | | $ | 789,642 | | | | | 54 | | % |

Subscription revenue increased by $752.1 million, or 55%, in fiscal 2023, compared to fiscal 2022, which was primarily driven by a combination of the addition of new customers and the sale of additional endpoints and modules to existing customers.

As of January 31, 2023, we had a total of 23,019 subscription customers, which represents 41% growth from January 31, 2022.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

Cost of Revenue, Gross Profit, and Gross Margin

| | | | | | | | | | | | | | | | Change | | | | | | | | |

| | | | 2023 | | | | | | 2022 | | | | | | $ | | | | | | % | | |

| Subscription | | | $ | 511,684 | | | | | $ | 321,904 | | | | | $ | 189,780 | | | | | 59 | | % |

| Total cost of revenue | | | $ | 601,231 | | | | | $ | 383,221 | | | | | $ | 218,010 | | | | | 57 | | % |

| | | | | | | | | | | | | | | | Change | | | | | | | | |

| | | | 2023 | | | | | | 2022 | | | | | | $ | | | | | | % | | |

| Subscription gross profit | | | $ | 1,599,976 | | | | | $ | 1,037,633 | | | | | $ | 562,343 | | | | | 54 | | % |

| Total gross profit | | | $ | 1,640,005 | | | | | $ | 1,068,373 | | | | | $ | 571,632 | | | | | 54 | | % |

| | | | | | | | | | | | | | | | Change | | |

| | | | 2023 | | | | | | 2022 | | | | | | | | |

Subscription gross margin was relatively flat for fiscal 2023, compared to fiscal 2022.

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| | | | | | | | | | | | | | | | Change | | | | | | | | |

| | | | 2023 | | | | | | 2022 | | | | | | $ | | | | | | % | | |

In March 2020, the World Health Organization declared the COVID-19 outbreak to be a pandemic.

Since then, the COVID-19 pandemic has rapidly spread across the globe and has already resulted in significant volatility, uncertainty, and economic disruption.

Since the pandemic commenced, we have implemented several measures to help protect the health and safety of our employees around the globe.

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

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

Our gross retention rate for fiscal 2022 remained consistently high and our dollar-based net retention rate was above 120 percent throughout fiscal year 2022 as we continued to expand the number of endpoints and modules within existing customers.

We 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 to which the COVID-19 pandemic may impact our longer-term operational and financial performance remains uncertain.

Furthermore, due to our subscription-based business model, the effect of the COVID-19 pandemic may not be fully reflected in our results of operations until future periods, if at all.

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

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 IA, “Risk Factors” for a further description of the material risks we currently face, including risks related to the COVID-19 pandemic.

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 total consideration transferred was $370.3 million which consisted of $353.8 million in cash, net of $12.5 million cash acquired, and $4.0 million representing the fair value of replacement equity awards attributable to pre-acquisition service.

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

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

Many organizations have not yet adopted cloud-based

based arrangements, revenue is recognized as services are performed.

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

| Professional services | | | 92,057 | | | | | | 69,768 | | | | | | 22,289 | | | | | | 32 | | % |

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

This increase was primarily attributable to the addition of new subscription customers, as we increased our customer base by 65%, from 9,896 subscription customers in fiscal 2021 to 16,325 subscription customers in fiscal 2022.

Subscription revenue from new customers, subscription revenue from the renewal of existing customers, and subscription revenue from the sale of additional endpoints and additional modules to existing customers accounted for 34%, 42%, and 24% of total subscription revenue in

fiscal 2022, respectively.

Subscription revenue from new customers, subscription revenue from the renewal of existing customers, and subscription revenue from the sale of additional endpoints and additional modules to existing customers accounted for 33%, 36%, and 31% of total subscription revenue in fiscal 2021, respectively.

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

| Total cost of revenue | | | $ | 383,221 | | | | | $ | 229,545 | | | | | $ | 153,676 | | | | | 67 | | % |

Subscription cost of revenue increased by $136.7 million, or 74%, in fiscal 2022, compared to fiscal 2021.

| Subscription gross profit | | | $ | 1,037,633 | | | | | $ | 619,458 | | | | | $ | 418,175 | | | | | 68 | | % |

| Total gross profit | | | $ | 1,068,373 | | | | | $ | 644,893 | | | | | $ | 423,480 | | | | | 66 | | % |

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

Subscription gross margin slightly decreased by 1%, in fiscal 2022, compared to fiscal 2021.

The decrease in subscription gross margin was primarily due to higher intangibles amortization resulting from acquisitions, higher stock-based compensation expense, and higher cloud services costs per sensor, partially offset by continued expansion of module adoption during fiscal 2022, compared to fiscal 2021.

As of January 31, 2022, 69% of our customer base had adopted four or more modules, 57% of our customer base had adopted five or more modules, and 34% of our customer base had adopted six or more modules.

As of January 31, 2021, 63% of our customer base had adopted four or more modules, 47% of our customer base had adopted five or more modules, and 24% of our customer base had adopted six or more modules.

| Other income, net | | | $ | 7,756 | | | | | $ | 6,219 | | | | | $ | 1,537 | | | | | 25 | | % |

As of January 31, 2022, we had deferred revenue of

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

As of January 31, [removed: 2022,] [added: 2023,] we had cash and cash equivalents of [removed: $2.0 billion] [added: $2.5 billion, short-term investments of $250.0 million,] and no marketable securities.

[removed: Due to the short-term nature of our investment portfolio, the] [added: 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: 2022.][added: 2023.]

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

A portion of our operating expenses are incurred outside the United States, denominated in foreign [removed: currencies] [added: currencies,] and subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the British Pound, Australian Dollar, and Euro.

Foreign currency transaction gains and losses are recorded to [removed: Other income (expense),] [added: other income,] net.

A hypothetical 10% adverse change in the U.S. dollar against other currencies would have resulted in an increase in operating loss of approximately [removed: $36.3] [added: $55.5] million and [removed: $17.2] [added: $36.3] million for the fiscal years ended January 31, [removed: 2022] [added: 2023] and January 31, [removed: 2021,] [added: 2022,] respectively.

We do not believe that inflation had a material effect on our business, financial [removed: conditions] [added: condition,] or results of operations during the fiscal year ended January 31, [removed: 2022.][added: 2023.]

Our inability or failure to do so could harm our business, financial [removed: condition] [added: condition,] and results of operations.

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

Our short-term investments consist of time deposits.

Our investments do not have significant interest rate risk, as the yields on our investments are fixed rates.

Our investments are exposed to market risk due to fluctuations in interest rates, which may affect our interest income and the fair value of our investments.

The carrying amount of our cash equivalents reasonably approximates fair value due to the short maturities of these instruments.

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

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, [removed: DevOps,] IT assets and configurations) to create actionable [removed: data,] [added: information,] identify shifts in adversary tactics and automatically [added: detect and] prevent threats in real-time across our customer base.

Our Falcon platform was purpose-built in the cloud to harness the power of [removed: our Security Cloud] [added: data] 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 [removed: endpoint and cloud workload] protection [added: across endpoints, cloud workloads, identity and data] (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.

Today, we offer [removed: 22] [added: 23] cloud modules on our Falcon platform via a SaaS subscription-based model that spans multiple large markets, including corporate workload security, [added: managed] security [added: services, security] and vulnerability management, [removed: managed security services,] IT operations management, [added: identity protection, log management,] threat intelligence services, [removed: identity protection,] and [removed: log management.][added: data protection.]

This also enables our Falcon platform to intelligently ingest [added: data once] and stream high fidelity data back into the Security Cloud to [added: be re-used for multiple use cases,] 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 Threat [removed: Graph] [added: Graph, which] 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.

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

[added: While AI is revolutionizing many technology fields, including cybersecurity solutions, 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.

Our technology is uniquely effective because we not only have a massive amount of high fidelity data to continuously train our AI models but also because [removed: of our] [added: we couple that data with] deep [added: human] cybersecurity expertise, which supports our industry-leading efficacy and low false positives.

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

- [removed: Cybersecurity Threats are More Sophisticated] [added: The Increasing Sophistication] and [removed: More Damaging:] [added: Disruption of Cybersecurity Threats:] 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 [removed: -] [added: –] including non-malware based attacks that exploit user identities and credentials.

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

- [added: A] 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.

We believe the aforementioned trends are exacerbated by the architectural limitations of legacy cybersecurity products, which [removed: include:][added: are characterized by:]

- On-Premise Security and Bolt-On Cloud Products [added: That] 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.

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

- Legacy Signature-Based Products [added: That] Are Not Effective Against Unknown Threats: Signature-based products are designed to detect attacks that are already cataloged as previously identified threats.

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

[removed: A] [added: Therefore, a] malware-centric defensive approach will leave the organization vulnerable to attacks that do not leverage malware.

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

We believe that the cloud-native architecture of the Falcon platform and Security Cloud provides a sustainable advantage in addressing the needs of our customers as their [removed: business] [added: businesses] and the threat landscape continues to evolve.

We offer our customers compelling business value that includes ease of adoption, rapid time-to-value, superior efficacy rates in detecting threats and preventing breaches, and reduced total cost of ownership by consolidating legacy, [removed: siloed] [added: siloed, and multi-agent] security products in a single solution.

- Consolidation of Siloed Products: Integrating and maintaining numerous security products creates blind spots that attackers can [removed: exploit] [added: exploit,] is costly to maintain and negatively impacts user performance.

We empower customers to rapidly deploy and scale [removed: cloud workload security, next-generation antivirus,] [added: industry leading technologies across] endpoint detection and response [removed: (“EDR”), device control, host firewall management, vulnerability management, forensic analysis, IT hygiene, threat hunting, identity protection, log management, automated threat intelligence,] [added: (“EDR”)] and Extended Detection and Response [removed: (“XDR”)] [added: (“XDR”), Identity Threat Protection, Threat Intelligence, ITSecOps and Risk, Cloud Security, and Modern Log Management] from a single platform.

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

- Alleviating the Skills Shortage through Automation: CrowdStrike automates manual tasks to free security teams to focus on their most important job [removed: -] [added: –] stopping the breach.

Our Falcon Fusion module automates workflows to reduce the need to switch between different security tools and tasks, while our Falcon [added: Insight] XDR module provides a unified solution that enables security teams to rapidly and efficiently identify, hunt, and eliminate threats across multiple security domains.

The Falcon platform offers a unified set of cloud-delivered technologies that power a wide range of modules [removed: including next-generation antivirus, EDR, device control, host firewall management, managed threat hunting, IT hygiene, vulnerability management,] [added: across EDR] and [removed: threat intelligence.][added: XDR, Identity Threat Protection, Threat Intelligence, ITSecOps and Risk, Cloud Security, and Modern Log Management.]

[removed: Our] [added: CrowdStrike Falcon Platform: Our] Cloud Modules

- Discover for Cloud and Containers—Cloud Service Discovery. Discover for Cloud and Containers delivers comprehensive visibility of cloud assets, security configurations, workloads and containers across multi-cloud environments so customers can mitigate risks and reduce [removed: the] [added: their] attack surface.

Endpoint [removed: Security][added: Security and XDR]

- Falcon [removed: Insight—Endpoint] [added: Insight XDR—Endpoint] Detection and Response.

- Falcon Discover—IT [removed: Hygiene.][added: Hygiene and IoT.]

The module also enables use cases outside of security, such as application license management, [removed: AWS] [added: Amazon Web Services (“AWS”)] spend analysis, and asset inventory.

[added: Based on years of incident response experience and forensics investigative services from CrowdStrike’s leading services team,] Falcon Forensics streamlines the collection of point-in-time and historic forensic triage data for robust analysis of cybersecurity incidents, [added: threat hunting as well as] enabling responders to quickly identify relevant [removed: data] [added: evidence of an intrusion] with preset [removed: dashboards] [added: dashboards, allowing for rapid investigation, triage] and [removed: rapidly investigate.][added: remediation.]

This in turn provides alerts and reports to help meet various compliance requirements imposed by [removed: PCI, CIS] [added: the Payment Card Industry (“PCI”), the Center for Internet Security (“CIS”)] Controls, and Sarbanes-Oxley.

We also offer Falcon Cloud Workload Protection [removed: Complete and] [added: Complete,] Falcon Identity Threat Protection [added: Complete, and Falcon] Complete [added: LogScale] as add-ons to our Falcon Complete solution to extend its capabilities to include our cloud workload [removed: protection and] [added: protection,] identity [removed: protection] [added: protection, and log management] modules.

Falcon OverWatch is a threat hunting solution that consists of an elite team of dedicated security experts who work with the power of Threat Graph to proactively [added: hunt on telemetry collected in the platform around the clock 24/7/365 to] identify [added: novel] threats [removed: for] [added: and attacks that might otherwise go unnoticed by security teams and the tools they use to monitor and detect advancing new threats in support of] our customers.

- Falcon [removed: X—Threat] [added: Intelligence—Threat] Intelligence.

The highly advanced graph technologies underpinning the Falcon platform now include:

Our Intel Graph, which analyzes and correlates data and threat intelligence to visualize the connections between adversaries and attacks to help customers prioritize investigations and gain a deep understanding of the threat landscape.

The latest intel on adversaries, tactics, techniques, and procedures is delivered seamlessly within the CrowdStrike Falcon platform and is mapped to the MITRE ATT&CK® framework.

Our Asset Graph, which dynamically monitors and tracks the complex interactions among assets, providing a single holistic view of the risks those assets pose.

Asset Graph provides graph visualizations of the relationships among all assets such as devices, users, accounts, applications, cloud workloads and operations technology (“OT”), along with the rich context necessary for proper security hygiene and proactive security posture management to reduce risk in their organizations — without impacting IT.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

- The Need to Reduce Complexity and Simplify Security Operations: Organizations are increasingly looking to reduce the complexity of their security and IT stack.

Modern security requires fewer point products, fewer agents and technologies that consume fewer resources.

Increasingly, organizations are looking to standardize on trusted platforms that deliver an immediate return on investment and lower total cost of ownership.

We have observed that over 60% of attacks comprise non-malware, hands-on-keyboard activity.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

Falcon Complete provides a comprehensive monitoring, management, response, and remediation solution to our customers and is designed to bring enterprise level security to companies that may lack enterprise level resources.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

Enforcing Zero Trust Across the Pillars of Modern Enterprise Security

As modern attacks and adversaries grow more sophisticated, CrowdStrike believes that stopping breaches in the modern era requires security that delivers unified visibility and protection across three critical areas: Endpoint and Cloud workloads, Identity Threat Protection and Data Protection.

Eighty percent of breaches today use stolen credentials and identities.

Stopping these advanced attacks requires a Zero Trust approach that delivers true end-to-end protection across workloads, identities, and data.

CrowdStrike is able to natively enforce Zero Trust protection at the device layer, the identity layer, and the data layer, extending our bold vision for security by driving modern Defense in Depth to the enterprise.

By delivering these powerful capabilities through a unified platform, CrowdStrike is able to connect the endpoint and workload to user identity, and the data that is being used and accessed.

Customers can see the full health and state of endpoints and workloads, in context with the identity that is using and accessing them, aligned with where data is being created, who is using it, where it flows and how it is protected.

CrowdStrike delivers this through a unified platform experience.

This is how CrowdStrike believes security should and must be delivered today to combat advanced adversaries and stop breaches in the modern era.

This means security solutions that are: a) Easy to deploy; b) Easy to manage; and c) Highly effective, without interference on good user behavior.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

With industry-leading EDR at its core, Falcon Insight XDR synthesizes cross-domain telemetry and activates extended capabilities with one unified, threat-centric command console to unlock cross-domain detections, investigations and responses across the security stack.

New enhancements in Falcon Discover for IoT minimize risk for IoT/OT (“Other Technology”) devices with comprehensive asset visibility, monitoring, and security hygiene.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

- Falcon Surface—External Attack Surface Management. Falcon Surface (previously, Reposify) allows customers to discover and map all internet-facing assets to shut down potential exposures with guided mitigation plans to reduce the attack surface and organizational risk.

Observability

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Additionally, Department of Defense organizations can rely upon CrowdStrike’s Impact Level 4 provisional authorization to satisfy their cloud-based security requirements.

As a result, the Cybersecurity and Infrastructure Security Agency has leveraged a significant investment in our platform to support modernization efforts within the Federal Civilian Executive Branch.

Further evidence of our progress into these critical markets is demonstrated by virtue of fact that 22 of the 50 U.S. states have standardized on CrowdStrike’s platform at the enterprise level.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

Intel Graph. Intel Graph analyzes and correlates massive amounts of data on adversaries, their victims and their tools, providing unrivaled insights into the shifts in tactics and techniques, powering our adversary-focused approach with world-class threat intelligence.

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

Asset Graph. Asset Graph dynamically monitors and tracks the complex interactions among assets, providing a single holistic view of the risks those assets pose.

Asset Graph provides graph visualizations of the relationships among all assets such as devices, users, accounts, cloud workloads, and OT along with the rich context necessary for proper security hygiene and proactive security posture management to reduce risk in their organizations.

Among organizations who first became a customer after February 1, 2021, for each $1.00 spent by those

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

While AI is revolutionizing many technology fields, including cybersecurity solutions, to be truly effective,

In 2021 alone, adversaries launched multiple, destructive attacks that disrupted business and resulted in significant cumulative losses.

Falcon Insight provides EDR capabilities to customers, allowing for continuous and comprehensive visibility to notify our customers what is happening on their endpoints in real time.

Extended Detection and Response

- Falcon XDR - Extended Detection and Response.

Falcon XDR extends our industry leading detection, investigation, and response capabilities by incorporating relevant third-party security data.

We correlate signals from multiple disparate technologies to deliver XDR detections across the attack surface.

We allow customers to investigate these detections and to search and hunt using data from CrowdStrike, as well as third party security sources such as email, cloud access security broker (“CASB”) network threat detection, and identity and firewall data.

The CrowdXDR Alliance offers a first-of-its-kind technology ecosystem to enable unified, threat-centric detection and response across an organization’s security and technology ecosystem.

We believe the CrowdXDR Alliance is differentiating - bringing together industry leaders and cutting-edge solutions to establish an open-source, common XDR ontology for data sharing.

Falcon XDR is designed to enhance threat correlation and speeds response times against sophisticated attacks.

- Humio—Log Management.

Recently Acquired Technologies

- SecureCircle – Data Protection.

SecureCircle is a recently acquired technology that extends Zero Trust security to data on the endpoint.

As data security drives business value for our customers, end users operate without obstacles,

while data is continuously secured against breaches and insider threats.

Instead of relying on complex reactive measures, we believe integrating SecureCircle will help us simply secure data persistently in transit, at rest, and even in use.

organization control assessments, cloud security assessments, IT hygiene assessments, and active directory security assessments.

We launched the CrowdStrike Store, the first

As of January 31, 2022, we had 132 issued patents and 90 pending patent applications in the United States and other countries.

These patents and patent applications seek to protect our proprietary inventions relevant to our business.

In addition, we also

Even prior to the COVID-19 pandemic, roughly 70% of our workforce, including engineering and technology teams, worked on a remote basis.

During the pandemic, we quickly went

to 100% of our workforce working remotely.

We have recently started to open offices again following the local guidelines, but have continued to encourage employees to follow local guidance on COVID-19 protocols to protect the health and safety of themselves and of those around them.

Our website address is www.crowdstrike.com.

For information regarding legal proceedings and other claims in which we are involved, see Note [removed: 11,] [added: 9,] Commitments and Contingencies, in Part II, Item 8 of this Annual Report on Form 10-K.

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

For the fiscal year ended January 31, [removed: 2022][added: 2023]

| [removed: (Do not check if a smaller reporting company)] | | | | | | Emerging growth company | | | ☐ | | |

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: 2021] [added: 2022] (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: $51.5] [added: $42.8] billion.

As of February 28, [removed: 2022,] [added: 2023,] the number of shares of the registrant’s Class A common stock outstanding was [removed: 210,058,133,] [added: 222,937,242,] and the number of shares of the registrant’s Class B common stock outstanding was [removed: 20,709,727.][added: 12,926,743.]

Portions of the registrant’s definitive Proxy Statement relating to its [removed: 2022] [added: 2023] Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K where indicated.

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

| [Item [removed: 1.](#i23696c21edfb486ea3883eaec549c469_16)] [added: 1.](#i66f9843cc7424846b9262bad6a3ca9f2_16)] | | | [removed: [Business](#i23696c21edfb486ea3883eaec549c469_16)] [added: [Business](#i66f9843cc7424846b9262bad6a3ca9f2_16)] | | | [removed: [4](#i23696c21edfb486ea3883eaec549c469_16)] [added: [4](#i66f9843cc7424846b9262bad6a3ca9f2_16)] | | |

| [Item [removed: 1A.](#i23696c21edfb486ea3883eaec549c469_19)] [added: 1A.](#i66f9843cc7424846b9262bad6a3ca9f2_19)] | | | [Risk [removed: Factors](#i23696c21edfb486ea3883eaec549c469_19)] [added: Factors](#i66f9843cc7424846b9262bad6a3ca9f2_19)] | | | [removed: [19](#i23696c21edfb486ea3883eaec549c469_19)] [added: [20](#i66f9843cc7424846b9262bad6a3ca9f2_19)] | | |

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| [Item [removed: 2.](#i23696c21edfb486ea3883eaec549c469_25)] [added: 2.](#i66f9843cc7424846b9262bad6a3ca9f2_25)] | | | [removed: [Properties](#i23696c21edfb486ea3883eaec549c469_25)] [added: [Properties](#i66f9843cc7424846b9262bad6a3ca9f2_25)] | | | [removed: [51](#i23696c21edfb486ea3883eaec549c469_25)] [added: [53](#i66f9843cc7424846b9262bad6a3ca9f2_25)] | | |

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| [Item [removed: 4.](#i23696c21edfb486ea3883eaec549c469_31)] [added: 4.](#i66f9843cc7424846b9262bad6a3ca9f2_31)] | | | [Mine Safety [removed: Disclosures](#i23696c21edfb486ea3883eaec549c469_31)] [added: Disclosures](#i66f9843cc7424846b9262bad6a3ca9f2_31)] | | | [removed: [52](#i23696c21edfb486ea3883eaec549c469_31)] [added: [54](#i66f9843cc7424846b9262bad6a3ca9f2_31)] | | |

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| | | | [Part [removed: III](#i23696c21edfb486ea3883eaec549c469_184)] [added: IV](#i66f9843cc7424846b9262bad6a3ca9f2_184)] | | | | | |

| [Item [removed: 10.](#i23696c21edfb486ea3883eaec549c469_187)] [added: 10.](#i66f9843cc7424846b9262bad6a3ca9f2_169)] | | | [Directors, Executive Officers and Corporate [removed: Governance](#i23696c21edfb486ea3883eaec549c469_187)] [added: Governance](#i66f9843cc7424846b9262bad6a3ca9f2_169)] | | | [removed: [112](#i23696c21edfb486ea3883eaec549c469_187)] [added: [111](#i66f9843cc7424846b9262bad6a3ca9f2_169)] | | |

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| [Item [removed: 16.](#i23696c21edfb486ea3883eaec549c469_208)] [added: 16.](#i66f9843cc7424846b9262bad6a3ca9f2_190)] | | | [Form 10-K [removed: Summary](#i23696c21edfb486ea3883eaec549c469_208)] [added: Summary](#i66f9843cc7424846b9262bad6a3ca9f2_190)] | | | [removed: [113](#i23696c21edfb486ea3883eaec549c469_208)] [added: [112](#i66f9843cc7424846b9262bad6a3ca9f2_190)] | | |

This Annual Report on Form 10-K contains forward-looking statements within the meaning of the [added: Securities Act of 1933, as amended (the “Securities Act”), the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the] Private Securities Litigation Reform Act of 1995.

- [added: macroeconomic factors, including inflation and] instability in the global credit and financial markets;

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

| | | | [Part I](#i66f9843cc7424846b9262bad6a3ca9f2_13) | | | | | |

| | | | [Part II](#i66f9843cc7424846b9262bad6a3ca9f2_34) | | | | | |

| | | | [Part III](#i66f9843cc7424846b9262bad6a3ca9f2_166) | | | | | |

| | | | [Signatures](#i66f9843cc7424846b9262bad6a3ca9f2_196) | | | [116](#i66f9843cc7424846b9262bad6a3ca9f2_196) | | |

| | | | [Power of Attorney](#i66f9843cc7424846b9262bad6a3ca9f2_199) | | | [117](#i66f9843cc7424846b9262bad6a3ca9f2_199) | | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

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

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

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

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

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

Our principal executive offices occupy approximately [removed: 36,385] [added: 47,618] square feet in Austin, Texas under a lease that expires in [removed: 2024.][added: 2030.]

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

As of January 31, [removed: 2022,] [added: 2023,] we had [removed: 34] [added: 38] holders of record of our Class A common stock and [removed: 84] [added: 80] 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: 2022] [added: 2023] Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission within 120 days of the fiscal year ended January 31, [removed: 2022.][added: 2023.]

This performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the [removed: Securities] Exchange [removed: Act of 1934, as amended (the “Exchange Act”),] [added: Act,] or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of CrowdStrike Holdings, Inc. under the Securities Act or the Exchange Act.

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

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: 2022] [added: 2023] in comparison to the Standard & Poor’s 500 Index, Standard & Poor Information Technology Index, and the Nasdaq 100 Index.

[removed: ][added: ]

| Company/ Index | | | | | | Base period 6/12/19 | | | | | | [removed: 7/31/19] | | | | | | [removed: 10/31/19] | | | | | | 1/31/20 | | | | | | [removed: 4/30/20] | | | | | | [removed: 7/31/20] | | | | | | [removed: 10/31/20] | | | | | | 1/31/21 | | | | | | [removed: 4/30/21] | | | | | | [removed: 7/31/21] | | | | | | [removed: 10/31/21] | | | | | | 1/31/22 | | | [added: | | | | | | | | | | | | | | | | | | | | | 1/31/23 | | |]

| CrowdStrike Holdings, Inc. | | | | | | $ | 100.00 | | | | | [removed: $] | [removed: 153.57] | | | | | [removed: $] | [removed: 86.05] | | | | | $ | 105.33 | | | | | [removed: $] | [removed: 116.66] | | | | | [removed: $] | [removed: 195.17] | | | | | [removed: $] | [removed: 213.52] | | | | | $ | 372.07 | | | | | [removed: $] | [removed: 359.50] | | | | | [removed: $] | [removed: 437.26] | | | | | [removed: $] | [removed: 485.86] | | | | | $ | 311.45 | | [added: | | | | | | | | | | | | | | | | | | | | | $ | 182.59 | |]

| S&P Information Technology | | | | | | $ | 100.00 | | | | | [removed: $] | [removed: 112.77] | | | | | [removed: $] | [removed: 117.16] | | | | | $ | 134.13 | | | | | [removed: $] | [removed: 129.30] | | | | | [removed: $] | [removed: 156.64] | | | | | [removed: $] | [removed: 157.56] | | | | | $ | 183.94 | | | | | [removed: $] | [removed: 199.27] | | | | | [removed: $] | [removed: 219.35] | | | | | [removed: $] | [removed: 231.50] | | | | | $ | 232.55 | | [added: | | | | | | | | | | | | | | | | | | | | | $ | 196.05 | |]

| Nasdaq 100 | | | | | | $ | 100.00 | | | | | [removed: $] | [removed: 110.24] | | | | | [removed: $] | [removed: 113.85] | | | | | $ | 126.96 | | | | | [removed: $] | [removed: 127.41] | | | | | [removed: $] | [removed: 154.74] | | | | | [removed: $] | [removed: 157.13] | | | | | $ | 184.09 | | | | | [removed: $] | [removed: 197.77] | | | | | [removed: $] | [removed: 213.84] | | | | | [removed: $] | [removed: 226.94] | | | | | $ | 214.11 | | [added: | | | | | | | | | | | | | | | | | | | | | $ | 175.08 | |]

None.

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

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

| S&P 500 | | | | | | $ | 100.00 | | | | | | | | | | | | | | | | | $ | 118.69 | | | | | | | | | | | | | | | | | | | | | | | $ | 139.17 | | | | | | | | | | | | | | | | | | | | | | | $ | 171.58 | | | | | | | | | | | | | | | | | | | | | | | $ | 157.48 | |

On November 29, 2021, we agreed to issue $10.7 million of shares of our Class A common stock, subject to service-based vesting and other conditions, to certain individual interest holders of Secure Circle LLC (“SecureCircle”) in connection with our acquisition of SecureCircle.

The transaction was exempt from registration under Section 4(a)(2) of the Securities Act.

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

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

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

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

| [Report of Independent Registered Public Accounting [removed: Firm](#i23696c21edfb486ea3883eaec549c469_94)] [added: Firm](#i66f9843cc7424846b9262bad6a3ca9f2_82)] (PCAOB ID 238) | | | [removed: [73](#i23696c21edfb486ea3883eaec549c469_94)] [added: [74](#i66f9843cc7424846b9262bad6a3ca9f2_82)] | | |

| [Consolidated Balance Sheets as of January 31, [removed: 2022] [added: 2023] and [removed: 2021](#i23696c21edfb486ea3883eaec549c469_97)] [added: 2022](#i66f9843cc7424846b9262bad6a3ca9f2_85)] | | | [removed: [75](#i23696c21edfb486ea3883eaec549c469_97)] [added: [76](#i66f9843cc7424846b9262bad6a3ca9f2_85)] | | |

| [Consolidated Statements of Operations for the years ended January 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i23696c21edfb486ea3883eaec549c469_100)] [added: 2021](#i66f9843cc7424846b9262bad6a3ca9f2_88)] | | | [removed: [76](#i23696c21edfb486ea3883eaec549c469_100)] [added: [77](#i66f9843cc7424846b9262bad6a3ca9f2_88)] | | |

| [Consolidated Statements of Comprehensive Loss for the years ended January 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i23696c21edfb486ea3883eaec549c469_103)] [added: 2021](#i66f9843cc7424846b9262bad6a3ca9f2_91)] | | | [removed: [77](#i23696c21edfb486ea3883eaec549c469_103)] [added: [78](#i66f9843cc7424846b9262bad6a3ca9f2_91)] | | |

| [Consolidated Statements of [removed: Redeemable Convertible Preferred Stock and] Stockholders’ Equity [removed: (Deficit)] for the years ended January 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i23696c21edfb486ea3883eaec549c469_106)] [added: 2021](#i66f9843cc7424846b9262bad6a3ca9f2_94)] | | | [removed: [78](#i23696c21edfb486ea3883eaec549c469_106)] [added: [79](#i66f9843cc7424846b9262bad6a3ca9f2_94)] | | |

| [Consolidated Statements of Cash Flows for the years ended January 31, [removed: 2022, 2021] [added: 2023, 2022] and [removed: 2020](#i23696c21edfb486ea3883eaec549c469_109)] [added: 2021](#i66f9843cc7424846b9262bad6a3ca9f2_97)] | | | [removed: [79](#i23696c21edfb486ea3883eaec549c469_109)] [added: [80](#i66f9843cc7424846b9262bad6a3ca9f2_97)] | | |

| [Notes to Consolidated Financial [removed: Statements](#i23696c21edfb486ea3883eaec549c469_112)] [added: Statements](#i66f9843cc7424846b9262bad6a3ca9f2_100)] | | | [removed: [80](#i23696c21edfb486ea3883eaec549c469_112)] [added: [81](#i66f9843cc7424846b9262bad6a3ca9f2_100)] | | |

[Table [removed: of](#i23696c21edfb486ea3883eaec549c469_7) [Contents](#i23696c21edfb486ea3883eaec549c469_7)][added: of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)]

We have audited the accompanying consolidated balance sheets of CrowdStrike Holdings, Inc. and its subsidiaries (the “Company”) as of January 31, [removed: 2022] [added: 2023] and [removed: 2021,] [added: 2022,] and the related consolidated statements of operations, of comprehensive loss, of [removed: redeemable convertible preferred stock and stockholders’] [added: stockholders'] equity [removed: (deficit)] and of cash flows for each of the three years in the period ended January 31, [removed: 2022,] [added: 2023,] 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: 2022,] [added: 2023,] 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: 2022] [added: 2023] and [removed: 2021,] [added: 2022,] and the results of its operations and its cash flows for each of the three years in the period ended January 31, [removed: 2022] [added: 2023] 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: 2022,] [added: 2023,] based on criteria established in [removed: Internal] [added: *Internal] Control - Integrated [removed: Framework] [added: Framework*] (2013) issued by the COSO.

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

[added: A company’s internal control over financial reporting includes those policies and procedures] that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the [removed: company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.]

The Company’s consolidated revenue for the year ended January 31, [removed: 2022] [added: 2023] was [removed: $1,452] [added: $2,241] million.

| | | | January 31, | | | | | | | | | [added: | | | | | | | | | | | |]

| | | | [added: 2023 | | | | | |] 2022 | | | | | | 2021 | | |

| Cash and cash equivalents | | | [removed: $] [added: 2,455,369] | [added: | | | | |] 1,996,633 | | | | | [removed: $] | 1,918,608 | | [added: |]

| Accounts receivable, net of allowance for credit losses of [removed: $1.6] [added: $2.6] million and [removed: $1.2] [added: $1.6] million as of January 31, [removed: 2022] [added: 2023] and January 31, [removed: 2021,] [added: 2022,] respectively | | | [removed: 368,145] [added: 626,181] | | | | | | [removed: 239,199] [added: 368,145] | | |

| Deferred contract acquisition costs, current | | | [removed: 126,822] [added: 186,855] | | | | | | [removed: 80,850] [added: 126,822] | | |

| Prepaid expenses and other current assets | | | [removed: 79,352] [added: 121,862] | | | | | | [removed: 53,617] [added: 79,352] | | |

| Total current assets | | | [removed: 2,570,952] [added: 3,640,267] | | | | | | [removed: 2,292,274] [added: 2,570,952] | | |

| Strategic investments | | | [removed: 23,632] [added: 47,270] | | | | | | [removed: 2,500] [added: 23,632] | | |

| Property and equipment, net | | | [removed: 260,577] [added: 492,335] | | | | | | [removed: 167,014] [added: 260,577] | | |

| Operating lease right-of-use assets | | | [removed: 31,735] [added: 39,936] | | | | | | [removed: 36,484] [added: 31,735] | | |

| Deferred contract acquisition costs, noncurrent | | | [removed: 192,358] [added: 260,233] | | | | | | [removed: 117,906] [added: 192,358] | | |

| Goodwill | | | [removed: 416,445] [added: 430,645] | | | | | | [removed: 83,566] [added: 416,445] | | |

| Intangible assets, net | | | [removed: 97,336] [added: 86,889] | | | | | | [removed: 15,677] [added: 97,336] | | |

| Other long-term assets | | | [removed: 25,346] [added: 28,965] | | | | | | [removed: 17,112] [added: 25,346] | | |

| Total assets | | | $ | [removed: 3,618,381] [added: 5,026,540] | | | | | $ | [removed: 2,732,533] [added: 3,618,381] | |

| Accounts payable | | | $ | [removed: 47,634] [added: 45,372] | | | | | $ | [removed: 12,065] [added: 47,634] | |

| Accrued expenses | | | [removed: 83,382] [added: 137,884] | | | | | | [removed: 51,117] [added: 83,382] | | |

| Accrued payroll and benefits | | | [removed: 104,563] [added: 168,767] | | | | | | [removed: 71,907] [added: 104,563] | | |

| Operating lease liabilities, current | | | [removed: 9,820] [added: 13,046] | | | | | | [removed: 8,977] [added: 9,820] | | |

| Deferred revenue | | | [removed: 1,136,502] [added: 1,727,484] | | | | | | [removed: 701,988] [added: 1,136,502] | | |

| Other current liabilities | | | [removed: 24,929] [added: 16,519] | | | | | | [removed: 17,499] [added: 24,929] | | |

| Total current liabilities | | | [removed: 1,406,830] [added: 2,109,072] | | | | | | [removed: 863,553] [added: 1,406,830] | | |

| Long-term debt | | | [removed: 739,517] [added: 741,005] | | | | | | [removed: 738,029] [added: 739,517] | | |

| Deferred revenue, noncurrent | | | [removed: 392,819] [added: 627,629] | | | | | | [removed: 209,907] [added: 392,819] | | |

| Operating lease liabilities, noncurrent | | | [removed: 25,379] [added: 29,567] | | | | | | [removed: 31,986] [added: 25,379] | | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

March 8, 2023

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

| | | | 2023 | | | | | | 2022 | | |

| Cash and cash equivalents | | | $ | 2,455,369 | | | | | $ | 1,996,633 | |

| Short-term investments | | | 250,000 | | | | | | — | | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

| Interest income | | | 52,495 | | | | | | 3,788 | | | | | | 4,968 | | |

| Other income, net | | | 3,053 | | | | | | 3,968 | | | | | | 1,251 | | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

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

| Issuance of common stock for restricted stock awards | | | | | | | | | | | | | | | | | | 57 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Issuance of common stock for restricted stock awards | | | | | | | | | | | | | | | | | | 6 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Issuance of common stock for founders holdbacks related to acquisitions | | | | | | | | | | | | | | | | | | 72 | | | | | | — | | | | | | 10,645 | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,645 | | |

| Fair value of replacement equity awards attributable to pre-acquisition service | | | | | | | | | | | | | | | | | | — | | | | | | — | | | | | | 50 | | | | | | — | | | | | | — | | | | | | — | | | | | | 50 | | |

| Net income (loss) | | | | | | | | | | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | (183,245) | | | | | | — | | | | | | 960 | | | | | | (182,285) | | |

| Other comprehensive income | | | | | | | | | | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 221 | | | | | | — | | | | | | 221 | | |

| Balances at January 31, 2023 | | | | | | | | | | | | | | | | | | 235,777 | | | | | | $ | 118 | | | | | $ | 2,612,705 | | | | | $ | (1,148,163) | | | | | $ | (1,019) | | | | | $ | 23,793 | | | | | $ | 1,487,434 | |

[Table of](#i66f9843cc7424846b9262bad6a3ca9f2_7) [Contents](#i66f9843cc7424846b9262bad6a3ca9f2_7)

| Purchases of investments | | | (250,000) | | | | | | — | | | | | | (84,904) | | |

| Purchases of deferred compensation investments | | | (64) | | | | | | — | | | | | | — | | |

| Repayment of loan payable | | | (1,591) | | | | | | — | | | | | | — | | |

| Cash, cash equivalents and restricted cash at the end of period: | | | | | | | | | | | | | | | | | |

| Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows | | | 2,456,924 | | | | | | 1,996,633 | | | | | | 1,918,608 | | |

These reclassifications had no effect on previously reported results of operations or accumulated deficit.

One direct customer who represented 10% of more of the Company’s accounts receivable as of January 31, 2022 was as follows:

| | | | 2023 | | | | | | 2022 | | |

Cash Equivalents and Short-term Investments

Cash equivalents are mainly comprised of time deposits and money market funds.

The Company had $1.6 billion and $1.0 billion of cash equivalents as of January 31, 2023 and January 31, 2022, respectively.

Short-term investments consist of time deposits with original maturities greater than three months but less than one year.

The Company had $250.0 million of short-term investments as of January 31, 2023 and no short-term investments as of January 31, 2022.

Strategic investments are classified within Level 3 in the fair value hierarchy as these investments do not have readily determinable market values.

Net unrealized gain attributable to non-controlling interest was $1.0 million and $2.4 million during the fiscal years ended January 31, 2023 and January 31, 2022, respectively.

If these financial instruments were measured at fair value in the consolidated financial statements, cash equivalents, accounts receivable, accounts payable, accrued expenses and investments for the Company’s deferred compensation plan would be classified as Level 1 and short-term investments would be classified as Level 2.

The Company's investments related to the deferred compensation plan are invested within a Rabbi Trust.

Participants in the deferred compensation plan may select the securities in which their compensation deferrals are invested within the confines of the Rabbi Trust.

These securities are marked-to-market each reporting period.

Changes in Accounting Principles

A company’s internal control over financial reporting includes those policies and procedures

As described in Note 2 to the consolidated financial statements, the Company generates its revenue from contracts with customers for subscriptions and professional services.

March 16, 2022

CrowdStrike Holdings, Inc.

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

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

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

| Other income, net | | | 7,756 | | | | | | 6,219 | | | | | | 6,725 | | |

| Unrealized gain on available-for-sale securities, net of tax | | | — | | | | | | — | | | | | | 1,321 | | |

| Balances at January 31, 2019 | | | 131,268 | | | | | | $ | 557,912 | | | | | | | | 47,421 | | | | | | $ | 24 | | | | | $ | 31,211 | | | | | $ | (519,126) | | | | | $ | 98 | | | | | $ | — | | | | | $ | (487,793) | |

| Cumulative effect of accounting change- ASC 606 | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | 23,418 | | | | | | — | | | | | | — | | | | | | 23,418 | | |

| Issuance of common stock upon initial public offering, net of underwriting discounts and issuance costs | | | — | | | | | | — | | | | | | | | | 20,700 | | | | | | 11 | | | | | | 659,207 | | | | | | — | | | | | | — | | | | | | — | | | | | | 659,218 | | |

| Conversion of redeemable convertible preferred stock to common stock upon initial public offering | | | (131,268) | | | | | | (557,912) | | | | | | | | | 131,268 | | | | | | 66 | | | | | | 557,846 | | | | | | — | | | | | | — | | | | | | — | | | | | | 557,912 | | |

| Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon initial public offering | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | 10,559 | | | | | | — | | | | | | — | | | | | | — | | | | | | 10,559 | | |

| Net exercise of common stock warrants | | | — | | | | | | — | | | | | | | | | 322 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Settlement related to stockholders short-swing trade profit | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | 2,283 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,283 | | |

| Unrealized net gain on available-for-sale-securities, net of tax | | | — | | | | | | — | | | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,321 | | | | | | — | | | | | | 1,321 | | |

| Issuance of common stock related to early exercised options | | | — | | | | | | — | | | | | | | | | 57 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |

| Change in fair value of redeemable convertible preferred stock warrant liability | | | — | | | | | | — | | | | | | 6,022 | | |

| Other non-cash charges | | | — | | | | | | — | | | | | | (427) | | |

| Purchases of marketable securities | | | — | | | | | | (84,904) | | | | | | (779,701) | | |

| Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts | | | — | | | | | | — | | | | | | 665,092 | | |

| Payments of deferred offering costs | | | — | | | | | | — | | | | | | (5,872) | | |

| Proceeds from the issuance of common stock upon exercise of early exercisable stock options | | | — | | | | | | — | | | | | | 10,264 | | |

| Settlement related to stockholder short-swing trade profit | | | — | | | | | | — | | | | | | 2,283 | | |

| Conversion of redeemable convertible preferred stock to common stock | | | $ | — | | | | | $ | — | | | | | $ | 557,912 | |

| Conversion of redeemable convertible preferred stock warrant liabilities reclassified to additional paid-in capital | | | $ | — | | | | | $ | — | | | | | $ | 10,559 | |

| Net decrease in deferred offering costs, accrued but not paid | | | $ | — | | | | | $ | — | | | | | $ | (2,858) | |

Notes to Consolidated Financial Statements

Description of Business and Basis of Presentation

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

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

Effective February 1, 2020, the Company adopted the Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842).

Prior periods were not retrospectively recast, and accordingly, the consolidated statements of operations for the fiscal year ended January 31, 2020 was prepared using the prior lease accounting standard referred to as Accounting Standard Codification (“ASC”) Topic 840.

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.

Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets.

The Company is not aware of any specific event or circumstance that would require a material update to its estimates or judgments or an adjustment of the carrying value of its assets or liabilities as of January 31, 2022.

While there was not a material impact to the Company’s consolidated financial statements as of and for the year ended January 31, 2022, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company’s consolidated financial statements in future reporting periods.

| Channel partner A(1) | | | 9 | | % | | | | 10 | | % |

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: 2022.][added: 2023.]

Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of January 31, [removed: 2022] [added: 2023] 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: 2022.][added: 2023.]

The effectiveness of our internal control over financial reporting as of January 31, [removed: 2022] [added: 2023] has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in its report which is included in Part II, Item 8 of this 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: 2022] [added: 2023] that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because [removed: of changes in conditions, or the degree of compliance with policies or procedures may deteriorate.]

of changes in conditions, or the degree of compliance with policies or procedures may deteriorate.

CrowdStrike Holdings, Inc.

Notes to Consolidated Financial Statements

Certain information required by this Item with respect to our executive officers is set forth under Item 1 of Part I of this Annual Report on Form 10-K under the section entitled [removed: “Executive] [added: “Information about our Executive] Officers.”

The information otherwise required by this Item will be included in our definitive proxy statement for our [removed: 2022] [added: 2023] annual meeting of stockholders (the [removed: “2022] [added: “2023] Proxy Statement”), which will be filed with the SEC within 120 days after the end of our fiscal year ended January 31, [removed: 2022,] [added: 2023,] and is incorporated herein by reference.

The information required by this item is incorporated herein by reference to our [removed: 2022] [added: 2023] Proxy Statement.

The information required by this item is incorporated herein by reference to our [removed: 2022] [added: 2023] Proxy Statement.

The information required by this item is incorporated herein by reference to our [removed: 2022] [added: 2023] Proxy Statement.

The information required by this item is incorporated herein by reference to our [removed: 2022] [added: 2023] Proxy Statement.

All financial statement schedules have been omitted as the information is not required under the related instructions or is not applicable or because the information required is already included in the [added: consolidated] financial statements or the notes to those [added: consolidated] financial statements.

| [removed: [3.2](http://www.sec.gov/Archives/edgar/data/1535527/000110465919035685/a19-11597_1ex3d2.htm)] [added: [3.2](http://www.sec.gov/Archives/edgar/data/1535527/000110465923028507/tm238330d1_ex3-2.htm)] | | | | | | [removed: [Bylaws] [added: [Amended and Restated Bylaws] of the Registrant, as currently in [removed: effect.](http://www.sec.gov/Archives/edgar/data/1535527/000110465919035685/a19-11597_1ex3d2.htm)] [added: effect.](http://www.sec.gov/Archives/edgar/data/1535527/000110465923028507/tm238330d1_ex3-2.htm)] | | | 8-K | | | 001-38933 | | | 3.2 | | | [removed: June 14, 2019] [added: March 3, 2023] | | | | | |

| [10.9†](http://www.sec.gov/Archives/edgar/data/0001535527/000110465921089005/tm2121414d1_ex10-1.htm) | | | | | | [Outside Director Compensation Policy, as amended on [removed: June 30, 2021.](http://www.sec.gov/Archives/edgar/data/0001535527/000110465921089005/tm2121414d1_ex10-1.htm)] [added: October 19, 2022.](http://www.sec.gov/Archives/edgar/data/1535527/000153552722000025/exhibit101outsidedirectorc.htm)] | | | [removed: 8-K] [added: 10-Q] | | | 001-38933 | | | 10.1 | | | [removed: July 2, 2021] [added: November 30, 2022] | | | | | |

| [removed: [10.18](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1018_crowdstrikeaustinl.htm)] [added: [10.18](http://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, [removed: 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)] [added: 2018.](http://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1018_crowdstrikeaustinl.htm)] | | | [added: 10-K] | | | [added: 001-38933] | | | [added: 10.18] | | | [added: March 16, 2022] | | | [removed: X] | | |

| [removed: [10.19](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1019_crowdstrikeaustin1.htm)] [added: [10.19](http://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, [removed: 2019.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1019_crowdstrikeaustin1.htm)] [added: 2019.](http://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1019_crowdstrikeaustin1.htm)] | | | [added: 10-K] | | | [added: 001-38933] | | | [added: 10.19] | | | [added: March 16, 2022] | | | [removed: X] | | |

| [removed: [10.20](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1020_crowdstrikexarcred.htm)] [added: [10.20](http://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1020_crowdstrikexarcred.htm)] | | | | | | [Amended and Restated Credit Agreement dated as of January 4, 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.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1020_crowdstrikexarcred.htm)] [added: thereto.](http://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/ex-1020_crowdstrikexarcred.htm)] | | | [added: 10-K] | | | [added: 001-38933] | | | [added: 10.2] | | | [added: March 16, 2022] | | | [removed: X] | | |

| [10.21†](https://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/gk-specialpsuawardagreemen.htm) | | | | | | [Amended and Restated Performance Unit Agreement with George Kurtz, [removed: dated](http://www.sec.gov/Archives/edgar/data/1535527/000153552721000022/gk-specialpsuawardagreemen.htm) [September] [added: dated 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 | | | | | |

| [removed: [21.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx211.htm)] [added: [21.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx211.htm)] | | | | | | [List of Subsidiaries of the [removed: Registrant.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx211.htm)] [added: Registrant.](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx211.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [23.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx231.htm)] [added: [23.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx231.htm)] | | | | | | [Consent of PricewaterhouseCoopers LLC, independent registered public accounting [removed: firm.](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx231.htm)] [added: firm.](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx231.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [24.1](#i23696c21edfb486ea3883eaec549c469_217)] [added: [24.1](#i66f9843cc7424846b9262bad6a3ca9f2_199)] | | | | | | [Power of Attorney (reference is made to the signature page [removed: hereto).](#i23696c21edfb486ea3883eaec549c469_217)] [added: hereto).](#i66f9843cc7424846b9262bad6a3ca9f2_199)] | | | | | | | | | | | | | | | X | | |

| [removed: [31.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx311.htm)] [added: [31.1](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx311.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/1535527/000153552722000006/crwd-20220131xexx311.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx311.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [31.2](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx312.htm)] [added: [31.2](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx312.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/1535527/000153552722000006/crwd-20220131xexx312.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx312.htm)] | | | | | | | | | | | | | | | X | | |

| [removed: [32.1*](https://www.sec.gov/Archives/edgar/data/1535527/000153552722000006/crwd-20220131xexx321.htm)] [added: [32.1*](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx321.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/1535527/000153552722000006/crwd-20220131xexx321.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/crwd-20230131xexx321.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 [removed: authorized, in Austin, Texas,] [added: authorized] on the day of March [removed: 16, 2022.][added: 8, 2023.]

| /s/ George Kurtz | | | | | | President, Chief Executive Officer, and Director (Principal Executive Officer) | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Burt W. Podbere | | | | | | Chief Financial Officer (Principal Financial [removed: Officer and Principal Accounting] Officer) | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Gerhard Watzinger | | | | | | Chairman of the Board of Directors | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Cary J. Davis | | | | | | Director | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Denis J. O’Leary | | | | | | Director | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Godfrey R. Sullivan | | | | | | Director | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Laura J. Schumacher | | | | | | Director | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Roxanne S. Austin | | | | | | Director | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| /s/ Sameer K. Gandhi | | | | | | Director | | | | | | March [removed: 16, 2022] [added: 8, 2023] | | |

| [10.26](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/austin_xsecondxamendment.htm) | | | | | | [Second Amendment to Office Lease between EQC Capitol Tower Property LLC and CrowdStrike, Inc., dated January 19, 2023](https://www.sec.gov/Archives/edgar/data/1535527/000153552723000008/austin_xsecondxamendment.htm) | | | | | | | | | | | | | | | X | | |

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| /s/ Anurag Saha | | | | | | Chief Accounting Officer (Principal Accounting Officer) | | | | | | March 8, 2023 | | |

| Anurag Saha | | | | | | | | | | | | | | |

| /s/ Johanna Flower | | | | | | Director | | | | | | March 8, 2023 | | |

| Johanna Flower | | | | | | | | | | | | | | |

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