CrowdStrike Holdings Inc (NASDAQ:CRWD) Q3 2020 Earnings Conference Call - Final Transcript
Dec 05, 2019 • 05:00 pm ET
Thank you. [Operator Instructions] Our first question comes from Sterling Auty with J.P. Morgan. Your line is now open.
Hi, guys. This is Matt on for Sterling. Thanks for taking my question. Just wanted to get a sense of what you guys are seeing in terms of, in initial deals, the adoption of multiple modules. I know you guys talked about the percentage of customers using four, more five or more. But just at that initial stage, what have you guys been seeing in terms of multiple modules?
Hey, Matt. Thanks for your question. So with respect to modules and the number of modules that we provide, we believe our adoption rates for this quarter are milestones. We thought it would be informative to discuss on this call and we periodically share adoption milestones as they come in. It can vary quarter-to-quarter. As we bring out more and more modules, clearly there is more opportunity for customers to come in and purchase more modules upfront. And that's kind of the thinking that we have and that's what we're seeing it now.
Great. And then just a quick follow-up. In terms of the newer modules, are there any specific ones that you guys are seeing increased adoption? Thanks.
You're welcome. So when we think about new modules and new modules adoption, on any given quarter, it could vary. Clearly, we've got Discover, which is our IT hygiene module. We've got Device Control. We've got Falcon X and of course, we have vulnerability management. And again, on any given -- on any given quarter, any one of those could be the fourth module or beyond.
Great. Thanks, guys.
Thank you. Our next question comes from Saket Kalia with Barclays Capital. Your line is now open.
Hey, guys. Thanks for taking my questions here. Maybe first for you, George. A lot of talk about the competitive displacements in the quarter. I thought that was really helpful commentary. Can you just go one level deeper about the profile of those competitive displacements, meaning of the deals you're winning, are the sources of that market share changing at all compared to what you maybe saw last year, for example?
Well, as we mentioned in the call, earlier parts of the call, obviously, we've had some great displacements and we continue to be very aggressive in large and small markets. From our standpoint, obviously, the competitive environment has changed dramatically and we've seen an acceleration in our pipeline, given some of the acquisitions that have taken place and just the sheer uncertainty of these other companies that have been acquired, their level of R&D investment, their level of sales coverage, et cetera.
So, what we've seen so far is that customers who maybe were ready for a renewal of their existing incumbent provider next year are coming to us even earlier now to get into the testing cycle and talk about the various modules and capabilities we have to solve some of the problem. So that's what