Crowdstrike’s Revenue by Segment (2020-2021)

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This statistic shows Crowdstrike’s Revenue by Segment from Q1 2020 onwards, split between Professional Services and Subscription segments.
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This statistic shows Crowdstrike’s Revenue by Segment quarterly from Q1 2020 to Q3 2021, split between Professional Services and Subscription.

CrowdStrike Holdings Inc. is an American cybersecurity technology company, which provides cloud workload and endpoint security, threat intelligence, and cyberattack response services. Its revenues come from Professional Services and Subscription.

Crowdstrike’s Revenue by Segment

Here are the details in respect of Crowdstrike’s revenue from Q1 2020 to Q3 2021

Source of Revenue  Q1 2020  Q2 2020  Q3 2020  Q4 2020  Q1 2021  Q2 2021  Q3 2021 Revenue Share in Q3 2021
Professional Services $10.08 $10.53 $10.89 $13.57 $15.85 $14.71 $18.93 8%
Subscription $85.99 $97.57 $114.22 $138.53 $162.22 $184.25 $213.53 92%
Total $96.07 $108.10 $125.11 $152.10 $178.07 $198.97 $232.46 100%

(All figures in millions, except percentages)

Professional Services

CrowdStrike Holdings Inc. earned $18.93 million for Professional Services during Q3 2021, which was a 28% increase when compared to Q2 2021, where $14.71 million were earned. Further, during Q3 2021 there was a 73% increase as compared to Q3 2020, where only $10.89 million were earned. Professional Services contributed 8% of the total revenue of the company during Q3 2021.

Subscription

Subscriptions are the major source of revenue for CrowdStrike Holdings and contributed $213.53 million, making up about 92% of the total earnings in the third quarter of 2021. The revenue from Subscriptions during Q3 2021 saw a growth of 15% as compared to the previous quarter, where $184.25 million were earned. This also corresponded to a 86% increase compared to the third quarter of 2020, where the company earned $114.22 million.

The data also shows that the total revenue of the company has increased from $96.07 million to $232.46 million, between Q1 2020 and Q3 2021, which is a 141% increase. Further analysis reveals that the Professional Services segment has grown at a rate of 87%, while the Subscriptions have grown at a rate of 148% during this period. While the revenue from Subscriptions has shown a continuous growth between Q1 2020 and Q3 2021, the revenue from Professional Services while generally showing a  growing trend has had a dip during Q2 2021. The COVID-19 pandemic has forced companies and educational institutions to break away from their traditional methods of functioning and adopt the work-from-home model. This, in turn, has led to a windfall for IT, ITES and IT Security service providing companies. CrowdStrike Holdings Inc. also appears to have benefitted from this development and has not only added additional customers to its existing customer base but has also hiked Professional Service charges. This may be the reason for the increase in revenue of the company.

Company Overview

CrowdStrike Holdings Inc. is a public limited company founded in 2011 by George Kurtz, Dmitri Alperovitz and Gregg Marston. It is headquartered in Sunnyvale, California. As of 2020, the company employed about 3,200 people. The product portfolio of Crowdstrike includes Endpoint Security, Security and IT operations and Security cloud. To focus on proactive and incident response services, the company employed a former FBI official named Shawn Henry in 2012. The first product launched by the company in June 2013 was called CrowdStrike Falcon. It provides endpoint protection, threat intelligence and attribution.

The company along with the United States Department of Justice collected evidence against five Chinese military hackers for economic cyberspying on the USA. Activities of a group called Energetic Bears who were planning global attacks were unwrapped by them. In the wake of the Sony Pictures hack, CrowdStrike was able to discover evidence suggesting that the North Korean government was behind the attack and also demonstrate the attack was launched. During its latest Global Threat Report, the company revealed that hackers from Russia are the fastest hackers in the world and that China is behind more than 25 % of sophisticated attacks.

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