CrowdStrike Holdings Inc (NASDAQ:CRWD) Q1 2021 Earnings Conference Call - Final Transcript

Jun 02, 2020 • 05:00 pm ET


CrowdStrike Holdings Inc (NASDAQ:CRWD) Q1 2021 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the CrowdStrike Fiscal First Quarter 2021 Results Conference Call. [Operator Instructions]

Now it's my pleasure to turn the call to Maria Riley, CrowdStrike Investor Relations.

Maria Riley

Good afternoon, and thank you for your participation today. With me on the call are George Kurtz, President and Chief Executive Officer and Co-Founder of CrowdStrike; and Burt Podbere, Chief Financial Officer.

Before we get started, I would like to note that certain statements made during this conference call that are not historical facts, including those regarding our future plans, objectives and expected performance, including our outlook for the second quarter and fiscal year 2021 are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our outlook only as of the date of this call. While we believe any forward-looking statements we have made are reasonable, actual results could differ materially because the statements are based on current expectations and are subject to risks and uncertainties.

We do not undertake and expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise. Further information on these and other factors that could affect the company's financial results is included in filings we make with the SEC from time to time, including the section titled Risk Factors in the company's quarterly and annual reports that we file with the SEC.

Additionally, unless otherwise stated, excluding revenue, all financial measures discussed on this call will be non-GAAP. A discussion of why we use non-GAAP financial measures and a reconciliation schedule showing GAAP versus non-GAAP results is currently available in our press release, which may be found on the Investor Relations website at or on our Form 8-K filed with the SEC today. Finally, please note that in light of these unprecedented times, as a result of the COVID-19 pandemic, management will provide additional information into our first quarter results and guidance assumptions. We do not intend to provide this additional information on an ongoing basis.

Now I will turn the call over to George to begin.

George Kurtz

Thank you, Maria, and thank you all for joining us today. We are once again hosting this call remotely and ask for your patience in the event we experience any technical difficulties. Let me begin by saying we hope you and your families are healthy. We extend our deepest thoughts to everyone affected by the COVID-19 outbreak.

I will start by summarizing three key points. First, CrowdStrike delivered another exceptional quarter with results well exceeding our expectations across the board, including generating non-GAAP operating income for the first time. Our strong performance demonstrates our ability to execute at peak levels and protect our customers even in light of a global crisis. Second, we believe work from home and digital transformation are sustainable trends for our business. It is mission-critical to protect workloads irrespective of where they are located on or off