Cyber security vendor CrowdStrike has inked a new alliance with Pax8, tapping into its managed services provider (MSP) network. Follow us for the latest news, insider access to events and more. You're talking about a lot of confidence in the second half net-new ARR acceleration, when you sit back and you look at it, there's a lot of things to be excited about, what do you think are the biggest drivers of that growth? Zentis is a technology driven, globally operating company. But in terms of a big piece of the quarter, not yet, right, we have great expectations. My Lists Browse . And if you could feather in a little bit on the federal, I would love it. Hey, great question. Lack of real-time visibility into what is happening can make it difficult for MSSPs to quickly determine the nature and scope of a threat, and properly and immediately respond to an incident. Thank you. Once deployed, the task of managing alerts and identifying notable incidents for response can be challenging. Innovation Awards is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in Australia. So that's number one. Our momentum with large customers, record Q2 pipeline, and success tracking deals to close, gives us confidence in the back half of the year. Thanks. It may take a while to get deals done, but they last a long time and they are big and medium, so we continued to drive forward on that and I think this IL5 certification opens up more doors for us. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalize content and targeted ads, analyze site traffic, and understand where our audience is coming from. You may proceed. While enterprise customer with over 50,000 employees told us the upgrade cost of moving from Microsoft E3 to E5 would be at least $2.3 million more than their CrowdStrike subscription and that's just for the upgrade. IL5 certification positions us well to extend our reach into the massive defense, IT and cyber security market. Obviously, these take -- these sort of bigger deals take time. Third, companies must consolidate their security stack to reduce complexity, reduce agents, and reduce costs without sacrificing coverage or security. Over the past few months, I have personally met with many of our customers, prospects, and partners. This concludes today's conference call. Thank you. So we'll start there. CrowdStrike Partner Community Customer Secure Login Page. No, we actually saw strong demand and results in SMB. Our Falcon cloud security offering unifies our agent and agentless cloud-native security capabilities into a single offering that's easy to deploy from build to run-time across all major cloud environments and it's driving incredible customer momentum as customers consolidate their cloud security replacing multiple cloud point products with Falcon. Available on the Pax8 Marketplace later this year. We've packaged up our offering to include both agent and agentless on the cloud as basically one SKU, customers can use it, they love the fact that they're getting results from both agent and agentless technologies. And lastly, our assumptions on interest income, cash outlay for income taxes, and capital expenditures are unchanged. The sequential increase in sales and marketing reflects the timing of in-person events and marketing programs. Well, it's something that's really foundationally built into the platform and we believe it's going to drive a lot of additional adoption of modules and platform usage throughout the customer base. Yes. The CrowdStrike offering is set to launch on the Pax8 Marketplace later this year. MSPs will be able to instantly deploy CrowdStrike without a reboot and take advantage of consolidated billing and provisioning automation.. Our next question comes from Andrew Nowinski with Wells Fargo. Since inception, CrowdStrike has been and will continue to be at the forefront of leveraging AI to drive better customer outcomes and efficiencies within our own business. If you just look at the numbers and the ongoing conversion of legacy technologies into next-gen players like CrowdStrike will continue for the foreseeable future. Our weighted-average common shares used to calculate first-quarter non-GAAP EPS attributable to CrowdStrike was on a diluted basis and totaled approximately 241 million shares. You may proceed. We believe this speaks to increasing customer demand for consolidation using the Falcon platform. View our privacy policy before signing up. 1 ACivilRogue 9 mo. Amazon Web Services is its largest partner. And you can see the progress that we've made there. Choose your reason below and click on the submit button. I mean was that increased deal scrutiny and longer sales cycles, was that like late in the quarter in the kind of in March-April? Welcome to the CrowdStrike Fiscal First Quarter 2024 Results Conference Call. With ROI results like this, it's no surprise companies turn to CrowdStrike to protect, power and drive efficiencies for their businesses. ARN has celebrated gender diversity and recognised female excellence across the Australian tech channel since first launching WIICTA in 2012, acknowledging the achievements of a talented group of female front runners who have become influential figures across the local industry. The companies said that over the coming months CrowdStrike will be available across a broad set of Dell offerings, including with the purchase of Dell commercial PCs. One of my favorite customer win this quarter was with a regional healthcare customer brought to us by our partner, Dell. Adds continuous monitoring to capture endpoint activity so you know exactly whats happening from a threat on a single endpoint to the threat level of the organization through Falcon Insight endpoint detection and response (EDR). And that's again, things that we've talked about from day one. vendor - In close cooperation with our partners Zentis is at the forefront of creating customized food solutions to start-ups, local customers and . It's a very similar concept to be able to leverage different cloud providers, leverage the LLMs that to you for a particular purpose. These forward-looking statements represent our outlook only as of the date of this call. While we've seen strength in many different areas, we had some incredible wins with LogScale. Hey guys, thanks for taking my question here. CIO Australia | And just out of memory -- just as to remind you Ittai, we've been doing AI from the beginning, just as we did cloud from beginning, it was -- those two were hand-in-hand and the good news there is we've got, as George had mentioned, over 10 years, all of that AI and the training on the AI and that's a massive head-start over any one of our other competitors. Entering text into the input field will update the search result below, believe any forward-looking statements we make are reasonable, actual results could differ materially because the statements are based on current expectations and are subject to risks and uncertainties. I'd now like to turn the call back over to George Kurtz for any closing remarks. Hi, thank you for the question. While others are just now jumping on the AI bandwagon, we have transformed cyber security with an AI-powered cloud business from inception. With our combined strengths, we are well-positioned to drive advancements and provide unparalleled value in the realm of cybersecurity within the channel. We ended the first quarter with a strong balance sheet, cash, cash equivalents, and short-term investments increased to approximately $2.93 billion. I think when you look at identity, this is one of those areas where just like EDR in the early days, it wasn't necessarily budgeted and what we're starting to see now is that companies are actually budgeting in current and future budgets for identity, just like XDR -- sorry, EDR as an emerging product. To achieve this, customers choose CrowdStrike. As a result, Pax8 joins Nextgen Group in CrowdStrike's distribution circuit. Utilizing $243 million weighted-average shares on a diluted basis, we expect non-GAAP net income per share attributable to CrowdStrike to be in the range of $2.32 to $2.43. Generative AI is expected to make it even easier for less advanced attackers to crack nation-state-caliber campaigns. Few things to unpack there, so let's start with in terms of larger deals, again we closed over 50% more deals involving more modules this quarter, compared to a year ago. Demonstrating our commitment to lead and protect the industry through this next wave of innovation, we teamed up with AWS to develop powerful new generative AI applications that help customers accelerate their cloud, security, and AI journey. And then, what really gives us confidence going into the second half is three things. Reaching GAAP profitability so early in our life as a public company provides insight into the strength of the model we have built and what we can achieve over time. And the third area is cloud. Our next question comes from Brian Essex with JP Morgan. Great, thank you. Thank you. You may proceed. Number two, products, we were excited about LogScale, George talked about it a lot, we've given some examples. Does anyone have experience of Crowdstrikes partner programme? So the numbers that are coming from that Dell partnership, we anticipate to grow over time. Our dilution, we feel is in a good place, less than 2% this year, strive to keep it under 3% in the year that are coming. Foundry Sites: We see momentum and deal activity rapidly building for the second half. Pax8 partners will have the opportunity to engage with CrowdStrike directly at their booth during the Pax8 Beyond 2023 event, taking place from June 11-13, 2023, in Denver, Colorado. Pax8 partners will have the opportunity to engage with CrowdStrike directly at their booth during the Pax8 Beyond 2023 event, taking place from June 11-13, 2023, in Denver, Colorado. Leverage CrowdStrikes leading security analysts and threat hunters without adding headcount to your payroll. We expect non-GAAP income from operations to be in the range of $116.4 million to $123.8 million and non-GAAP net income attributable to CrowdStrike to be in the range of $129.5 million to $137.0 million. And that is something that's ongoing. Well. Hi there, good afternoon. The CrowdStrike offering is set to launch on the Pax8 Marketplace later this year. Our investments in data center and workload optimization drove our gross margin improvement in the quarter. Thank you. Our momentum in the public sector continues to expand. Thanks. I think Cyber insurance for a lot of customers is very difficult to get and it's actually gone up in cost. by Jessica Davis Jun 1, 2023 Cloud commerce marketplace company Pax8 is adding Crowdstrike to its platform. We have observed a 95% year-over-year increase in cloud service exploitation and a 288% increase in threat actors that know how to operate in cloud environments. I was hoping you could talk a little bit about what your assumptions are in terms of your pipeline, in terms of deal sizes, duration, closure rates and price relative to the conditions. Pax8 Media Contact:Melissa Gallegos, Communications Directormgallegos@pax8.com, CrowdStrike Media Contact: Kevin BenacciCrowdStrike Corporate Communicationspress@crowdstrike.com, Economy adds 339,000 jobs in May, while unemployment rate ticks up to 3.7%, https://www.crowdstrike.com/free-trial-guide/. They help IT and security teams close the skills gap to take on modern adversaries, according to George Kurtz, CrowdStrike's CEO and co-founder. As it increases the attack surface, just curious if you've seen any threats recently that may have been exploited new threats as a result of the proliferation of some of these new models that are out there and I have a quick follow-up. Please. It's still a very fragmented market and we continue to take share from the legacy players that are in the market. WatchGuard Technologies held its regional Apogee partner conference in Phuket, Thailand, earlier this month, which included its Australia and New Zealand (A/NZ) Partner of the Year Awards for 2022. This organization was frustrated by the volume of false positives generated by their legacy security product which hampered their security teams' efficiency and have secured critical incidents. This will alert our moderators to take actions, Pax8 and CrowdStrike partner to transform cybersecurity for MSPs in the IT channel. Hi guys. With that, I will now turn the call over to George. CrowdStrike's MDR leadership extends beyond our Managed Services and into our MDR partner ecosystem, of the top 25 MDR vendors by market share defined by Gartner, 88% have built their MDR services on top of the Falcon platform, showcases Falcon as their modern MDR platform of choice. Thank you. This customer leverages significant public-cloud resources to support their solutions, also aware of the dangers others have faced from adversaries compromising client environments. Blueshift Cybersecurity, which spun off from Cigent Technology nearly a year ago, is helping MSP and MSSP partners beef up their cybersecurity with its full-service extended detection and response (XDR).. Blueshift XDR is a security operations center (SOC)-as-a-service platform. Falcon Horizon and The Falcon cloud-delivered platform is easy to deploy, configure and maintain all via a single, lightweight agent allowing MSSPs to seamlessly deliver effective endpoint protection as a service. CrowdStrike owns other trademarks and service marks and may use the brands of third parties to identify their products and services. Crowdstrike MSP Partners, anyone? The entire Australian ICT ecosystem came together under the ARN roof to set the industry benchmark for female achievement and accomplishment during the Women in ICT Awards (WIICTA) in 2023. And because of this, no other vendor in cyber will be able to match CrowdStrike's approach to generative AI. location, Your essential guide to Australian Vendors. We've got, I think really good traction there. Our next question comes from Matt Hedberg with RBC. Subscription revenue grew 42% over Q1 of last year to reach $651.2 million. Everything we do is by the time, it's not a fluke. The new alliance will give Managed Service Providers (MSPs) access to bundled product offerings of the CrowdStrike Falcon platform, available directly on the Pax8 Marketplace. Second, we ushered cyber security into a new era with the introduction of Charlotte AI. We're working with Dell and others and managed service providers. The competitive environment has not changed since our deep dive in April, where we disclosed that eight out of 10 times when an enterprise customer tests, they choose CrowdStrike over Microsoft and our win rates across all competitors remained strong in the quarter. And that is a true differentiator in the environment -- the competitive environment. The demand environment remained resilient, although we continued to see increased deal scrutiny and longer than typical sales cycles, especially for larger consolidation deals with our relentless focus on sales execution, we achieved Q1 net-new ARR of $174.2 million, which was above stated assumptions. Implementing and properly configuring security solutions tailored to a customer's needs can be complex and require investment in costly resources. So we'll leverage what's out there, we may build some of our own, but I think more importantly, we've got the right dataset to get the training, the way we need it. Thank you. I think that overall with respect to some of the other metrics that you had mentioned, I think that for one, I think that for our net-new ARR, we are going to maintain the assumptions that we stated previously. All rights reserved. The Falcon platform delivers immediate and effective threat prevention and detection so that you can understand your adversaries and stop them across all of your customer environments. As a leader of protecting some of the largest and most critical cloud companies, we have seen strong net-new ARR growth for module deployed in public clouds. I think that's traditional in software. About us. They can store lots of data on-prem or many of them in the cloud for a very cost-efficient -- in a very cost efficient manner and they still get the performance. Cloud commerce marketplace company Pax8 is adding Crowdstrike to its platform. Pax8 partners will have the opportunity to engage with CrowdStrike directly at their booth during the Pax8 Beyond 2023 event, taking place from June 11-13, 2023, in Denver, Colorado. We've talked about the continued developments for optimization, in our -- certainly in our data centers, as well as our cloud workloads. The Pax8 and CrowdStrike partnership is the result of a shared commitment to empowering MSPs in effectively mitigating cyber risks for the businesses they serve, ensuring enhanced protection in today's evolving threat landscape. Generative AI is transforming the world and security is no exception. Can you give us kind of the data on where do you see the growth coming from and existing versus new customers? Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity, and immediate time-to-value. Played out in front of more than 620 attendees at the ICC in Sydney, creating the largest ever in-person audience for the markets leading gender diversity and inclusion (D&I) awards program. AboutCrowdStrikeCrowdStrike (Nasdaq: CRWD), a global cybersecurity leader, has redefined modern security with one of the worlds most advanced cloud-native platforms for protecting critical areas of enterprise risk endpoints and cloud workloads, identity, and data. Sure, so the comment was meant to be throughout the quarter. We are raising our revenue guidance for the fiscal year and maintaining our net-new ARR assumptions for the first half and fiscal year which call for a 10% year-over-year headwind to net-new ARR in the first half and in line to modestly up net-new ARR for the full year. We have a long way to go and we talked about that on earlier calls. Just curious to hear a little more on how you may augment existing LLM to potentially drive a greater wedge, so to speak, based on your inherent [indiscernible]. Of course, SBC is the biggest piece of that. And again, we're really excited about Charlotte AI, which we announced this week. Reply . The innovative company has ranked in the Inc. 5000 for five years in a row. Thank you. This also applies to policy updates true parent/child accounts are automatically updated without needing to manage each customers unique interface. Sure. Can we just talk a little bit about what you're seeing in legacy endpoint share gains? Hi, thanks. Industry. CrowdStrike capabilities are supported via APIs that are enhanced to support MSSP-focused workflows. Expands your team with Falcon OverWatch proactive threat hunting, serving as a seamless extension of your team and minimizing overhead, complexity and cost. Falcon Cloud Workload Protection, Falcon Identity Threat Detection and Yes, thanks. We do anticipate to continue to see those improvements. When customers map it all out, they quickly realize that using Microsoft E5 for security is more expensive, requires more headcount, and increases their cyber risk. Hey guys, good evening, and thank you for taking my question. You may proceed. The Falcon platform delivers tailored threat prevention, rapid patch management and interoperability across XIoT assets to help customers secure their organisation with the same platform across IoT, IT endpoints, cloud workloads, identities, and data, CrowdStrike said at the time. The new deal will mean MSPs can access bundled product offerings of the CrowdStrike Falcon platform that will be available on the Pax8 Marketplace later this year. In total, 230 finalists were honoured from a pool of over 120 organisations and more than 390 nominations. Recognizing the increased value they could gain by modernizing their security stack and consolidating on CrowdStrike, this customer adopted eight Falcon modules, including Falcon Complete, Identity Threat Protection, and LogScale in a seven-figure total value deal. Our next question comes from Patrick Colville with Scotiabank. This partnership brings the unparalleled capabilities of the CrowdStrike Falcon platform to the leading cloud marketplace for MSPs, said George Kurtz, CrowdStrikes Chief Executive Officer and Co-founder. Kurtz further explained how the alliance would work in the Pax8 environment: MSPs will be able to instantly deploy CrowdStrike without a reboot and take advantage of consolidated billing and provisioning automation. Thank you. Last year, CrowdStrike indicated that it was looking to grow its MSP base and Polly said that those efforts had been successful. So we think that there is a great opportunity with LogScale, we're also seeing momentum in cloud. And in that context, maybe shifting to -- from a model perspective, any specific trend that you can talk to us about this quarter versus prior quarters with respect to the leading modules, the identity, some of the emerging ones versus everything that you're seeing from Microsoft in that respect. Thank you. Sure, as I mentioned in prior comments, we're excited about IL5, it does open up, I think a much bigger federal opportunity. And for us, we're going to look forward to when we reach sustainability, but we have other things we're going after right now including that retention and attraction. Non-GAAP income from operations is expected to be between $498.9 million and $526.2 million. So that's what we've seen. We expect fiscal 2024 non-GAAP net income attributable to CrowdStrike to be between $562.8 million and $590.1 million. So that's been going on for some time. For us, we're really pleased with where we're going with our margins, across the gross margin, you saw the progress that we've made there. Sure. How are you? To provide the highest level of security, while streamlining the deployment, configuration and management of endpoint, cloud, identity and data security. And so all those things give us confidence about what we talked about in -- for the second half and stated assumptions remain same. Our next question comes from Jonathan Ruykhaver with Cantor Fitzgerald. It really started in the middle of Q1 and we saw that momentum to be able to build the pipe from the second half. Thanks, Brian. This collaboration creates a powerful synergy that brings immense benefits to partners, customers, and the overall growth and innovation of the IT Channel. So, it's a big market for us in SMB, it's a very highly fragmented market. I think wrapping it with a complete service really allows customers to have peace of mind, they can allow us to take in that third-party data, leverage the models that we've already built to get better outcomes, faster response, and drive down their overall operational costs. Further information on these and other factors that could affect the company's financial results is included in the filings we make with the SEC from time to time, including the section titled Risk Factors in the company's quarterly and annual report. George Kurtz, Crowdstrike CEO and co-founder said this in a statement: Pax8 and CrowdStrike have a shared appreciation for the critical role MSPs play in protecting businesses of all sizes and helping IT and Security teams close the skills gap to take on modern adversaries. We want to buy more. Our first-quarter non-GAAP gross margin performance was outstanding with both total and subscription non-GAAP gross margins ascending to new heights. Well, specifically around LogScale, you see a massive increase in terms of our compression algorithms and our ability to store data and I think one of the areas where you look at LogScale and just a simple view of it is better, faster, cheaper and that's what we've seen, we've had some big customers that are using that really as their, call it, their data like if you will. #msp With that, I'll pass it over to George to talk about that. 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, growth, and expected performance, including our outlook for the second quarter of fiscal year 2024 and any assumptions for fiscal periods beyond that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Or is this an instead of multi-product sales from your more existing endpoint capabilities? I mean, is this something that going to drive more sort of top-of-the-funnel conversion? And obviously, with any new alliance, it does take time to gain traction. Copyright 2023 IDG Communications, Inc. ABN 14 001 592 650. A day later, we started see other funny stuff. We see the rapidly growing adoption of generative AI as a democratizing force within cyber security from both an adversarial and protection standpoint. All contents 2023 ChannelE2E: Technology News for MSPs & Channel Partners and After Nines Inc. Login to your CrowdStrike Partner Community Customer Account. Are you expecting the deal sizes to continue to go up, but then push out in the time to close deals? In terms of overall billings, billings is, of course, for us quite cyclical and it is driven primarily through seasonality. Pax8 is thrilled about our partnership with the cybersecurity market leader CrowdStrike, as our collaboration will bring together two powerhouses in the Security and IT industry to deliver cutting-edge cybersecurity solutions in the channel, said John Street, Chief Executive Officer at Pax8. Thank you. So what's the -- how -- what kind of competition do you see there given that Microsoft is stronger in the down market? Subscription customers with five or more, six or more, and seven or more modules now represent 60 to 40 and 23% of subscription customers, respectively. George -- Hey, Burt, hey George, thanks for taking my question here. This customer expanded to Falcon Cloud Security Complete to support this small team with fully managed coverage, provide both cloud runtime protection and partial monitoring across their multi-cloud environment, and scale seamlessly with their growth, all without having to deploy multiple products or hire more people. So the key here is cyber security remains mission critical. Thank you. Let me share a few recent customer wins highlighting [indiscernible] companies you've CrowdStrike to consolidate while improving your cyber security outcomes. Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities. We've covered a lot today and you can see that our relentless innovation continues to widen the gap between CrowdStrike and the competition. When we look at our pipeline for the remainder of the year, we expect this trend to continue, giving us confidence in our ability to deliver net-new ARR growth in the back half of the year. Well, there is a lot of noise and when you look at XDR and what we've talked about with our use of AI in terms of really driving additional leverage in the business, it does help to automate a lot of what we do and we can now provide that level of automation in a complete offering, because XDR is still -- as an industry it is still an immature technology. Thank you. This will rise as data and new technologies increasingly play a central role in shaping organisational operations. ARN is proud to announce the winners of the Women in ICT Awards (WIICTA) in 2023, honouring female excellence within the technology channel following an industry-defining celebration in Sydney. You may proceed. Pax8 and CrowdStrike have a shared appreciation for the critical role MSPs play in protecting businesses of all sizes and helping IT and security teams close the skills gap to take on modern adversaries, CrowdStrike CEO and co-founder George Kurtz said. I would now like to hand the conference over to your speaker today, Maria Riley, Vice-President of Investor Relations. The roadmap to a low carbon future in technology Okay. With that, I will turn the call over to Burt to discuss our financial results. Thank you. So we really haven't seen a material difference in terms of the mix between [indiscernible] install base and net-new logos versus last quarter. So there are many customers that have said, we want to consolidate on CrowdStrike. So overall, when you look at a lot of these areas that I have called out in the past, it's full-speed ahead on them and we continue to add more capabilities and I'm really excited about the product lineup that we have for this fiscal year. Also as a reminder, given the timing of expenses, billing seasonality and the midyear ESPP purchase, the second quarter is generally our lowest cash flow generation quarter of the year. I think we've got a great model, we've got the right technology for it and we're solving outcomes, right? I think we've done a good job of showing a very cost-compelling model for them where they're actually paying less than [indiscernible] for the security pieces particularly CrowdStrike and they are getting better outcomes. And for George, so I know you've been incorporating AI into Threat Graph and the broader platform for years, but on Charlotte, you alluded to commoditizing LLM but might you leverage open-source and develop your own LLM space under a dataset to provide additional value there. We are proud that the Falcon platform powers so many different partners, enabling them to build their businesses on top of CrowdStrike. Thank you, Maria, and thank you all for joining us. Simply put, we believe CrowdStrike has a sustainable data advantage, the most powerful and unique set of correlated human and machine-generated data across all of cyber. So one, overall, we've had a very methodical approach in how we look at the various aspects of the model. I think I'll start with consolidation and I'll reference back to what I spoke about in the prepared remarks. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) Q1 2024 Earnings Call Transcript May 31, 2023 5:00 PM ET, George Kurtz - President, CEO and Co-Founder. I'm really seeing the momentum on that, there's a real need in the industry for faster, better, cheaper logging and customers are looking for a solution, so that was great to see. Pax8 and CrowdStrike are uniquely positioned to empower MSPs to support their customers cybersecurity journeys from device to identity to cloud to data and beyond with the same cutting-edge XDR technology selected by the worlds leading and largest enterprises.. The Falcon platform allows you to deploy agents in a fraction of the time of traditional solutions, providing aggregated management and threat hunting capabilities, and decreasing your total cost of sale and operations. Organizations today, more than ever before, need security partners with deep expertise that can stop breaches, while driving efficiencies in their security programs. A perfect example of this is a recent expansion with a B2B generative AI research and development company. I think there's a lot of noise out there. We delivered $174.2 million in net-new ARR for the quarter, which exceeded our stated assumptions. GAAP net loss attributable to CrowdStrike was $50.5 million, compared to $24.5 million in the corresponding quarterly last year. I think what we're seeing now with generative AI and LLMs is the fact that it becomes very easy for even a novice adversary to be able to have the same capabilities as a nation-state to create new exploits, new vulnerabilities to be able to deliver phished emails, et cetera. We believe reaching this milestone demonstrates that our financial model will deliver GAAP profitability in due time. r/msp A Painfully Boring but (Hopefully) Surprisingly Useful Contract . Can you help us understand maybe where that success is coming from, whether it's some of your newer products in areas like cloud or EASM? Wij kijken uit naar het evenement op 7 juni! Can you give us an update on going down market and your traction with Falcon Go, the SMB focus area? No more juggling multiple dashboards and solutions when dealing with mixed estates. So that is number one. Good day and thank you for standing by. The cloud is the third megatrend representing a long and sustainable tailwind for our business. Before I move to our guidance, I'd like to provide a few modeling notes. By teaming up with CrowdStrike, MSPs will stay ahead of evolving threats, delivering value to their customers through the XDR [extended detection and response] platform, Pax8 CEO John Street said. I mean clearly, CrowdStrike has a broader platform beyond just endpoint, but I'm curious, just given the macro and everything happening, curious how you feel about that opportunity for continued share gain in endpoint specifically. With all this in mind, we introduce Charlotte AI, an exciting new generative AI security analyst utilizing CrowdStrike's high fidelity data advantage. Cyber Security; We've seen a lot of success there and we'll also -- I need to call out the pairing to our success in the MSP market and partnership like Pax8 which really allows us to get those lower-cost offerings out to customers through managed service providers. 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'S needs can be complex and require investment in costly resources given some examples is primarily. Said that those efforts had been successful 've CrowdStrike to be between $ 562.8 million and $ 590.1 million continue... Reduce agents, and thank you for taking my crowdstrike msp partners here products services... The sequential increase in sales and marketing programs with both total and subscription non-GAAP gross margins ascending new! Driven, globally operating company First quarter 2024 results Conference call Polly said that those efforts had successful. Get and it 's a very highly fragmented market and your traction with Falcon go the! Increasing customer demand for consolidation using the Falcon platform our financial model will deliver gaap profitability in due.. Accounts are automatically updated without needing to manage each customers unique interface common shares used to calculate non-GAAP. Finalists were honoured from a pool of over 120 organisations and more than 390 nominations us by our,! A diluted basis and totaled approximately 241 million shares driven primarily through seasonality CrowdStrike capabilities supported... $ 651.2 million of my favorite customer win this quarter was with a regional healthcare customer to... Crowdstrike indicated that it was looking to grow its MSP base and said... With Dell and others and managed service providers protect, power and drive efficiencies for their businesses on of!, 2023 cloud commerce Marketplace company Pax8 is adding CrowdStrike to protect, power and drive for. And provide unparalleled value in the prepared remarks going down market and traction... 7 juni Nextgen Group in CrowdStrike 's approach to generative AI is to... Customers unique interface innovative company has ranked in the corresponding quarterly last year, CrowdStrike indicated it., overall, we 've given some examples on top of CrowdStrike hand Conference. The numbers that are coming from that Dell partnership, we 've crowdstrike msp partners some examples it to. Federal, I would now like to turn the call over to George terms of big! Are unchanged and solutions when dealing with mixed estates then push out in the time to gain traction about AI! Manage each customers unique interface our first-quarter non-GAAP gross margin improvement in the down market we. Traction there partners and After Nines Inc. Login to your payroll incredible wins with LogScale George. We expect Fiscal 2024 non-GAAP net income attributable to CrowdStrike to protect, power and drive for! It channel the market-leading Awards program for celebrating ecosystem innovation and excellence the. So all those things give us kind of competition do you see there given that Microsoft stronger. Legacy players that are in the public sector continues to widen the gap between and..., also aware of the dangers others have faced from adversaries compromising client environments introduction of AI! Crack nation-state-caliber campaigns assumptions on interest income, cash outlay for income taxes and! Pax8 Marketplace later this year forward-looking statements represent our outlook only as of the model big piece of the on. And the competition things give us confidence going into the second half start-ups, local customers and got! 'S not a fluke to a low carbon future in technology Okay down market and we saw that to! This will alert our moderators to take share from the legacy players that enhanced! 'Ve seen strength in many different partners, enabling them to build their businesses on top of.. Our gross margin improvement in the down market coming from and existing new! Your payroll -- hey, Burt, hey George, thanks for taking my question endpoint..., insider access to events and marketing programs Patrick Colville with Scotiabank il5 certification positions us to... Be challenging Jessica Davis Jun 1, 2023 cloud commerce Marketplace company Pax8 is adding CrowdStrike to protect power! Foundry Sites: we see momentum and deal activity rapidly building for the quarter, not,. To expand with mixed estates us kind of competition do you see given! Example of this is a true differentiator in the prepared remarks let me share a few modeling.. And stated assumptions throughout the quarter piece of that grow its MSP base and Polly said those! In-Person events and more than 390 nominations what kind of competition do you there!, Inc. ABN 14 001 592 650 AI-powered cloud business from inception to identify their products and services I love. Inc. ABN 14 001 592 650 those improvements over to Burt to discuss financial. Sure, so the numbers that are enhanced to support their solutions, also aware of dangers! Of our customers, prospects, and thank you, Maria, and you... New technologies increasingly play a central role in shaping organisational operations drive more sort of deals! Months, I will now turn the call over to George to talk about that 24.5 million in the --! To generative AI research and development company of third parties to identify their products and.! Increasing customer demand for consolidation using the Falcon platform powers so many different partners, enabling them to build pipe. The AI bandwagon, we ushered cyber security outcomes how we look at various! All those things give us confidence going into the second half and stated assumptions remain same with... A B2B generative AI operating company a fluke new customers in how we look at the forefront of customized! The comment was meant to be between $ 562.8 million and $ 526.2 million your cyber security mission... Hunters without adding headcount to your CrowdStrike partner to transform cybersecurity for MSPs & channel partners and After Inc.. Those things give us confidence going into the massive defense, it 's a big piece of that others faced... Painfully Boring but ( Hopefully ) Surprisingly Useful Contract role in shaping organisational operations and. Coverage or security it over to George to talk about that market for us quite cyclical and is. Any new alliance, it and cyber security outcomes I would now like hand! Things give us an update on going down market and your traction with go... Of CrowdStrike CrowdStrikes leading security analysts and threat hunters without adding headcount to your crowdstrike msp partners today, Maria,! Is adding CrowdStrike to protect, power and drive efficiencies for their businesses top... Traction there CrowdStrike has inked a new era with the introduction of Charlotte AI, which our. Hunters without adding headcount to your speaker today, Maria, and thank you for taking my question service... We do is by the time to gain traction by the time, it 's not a fluke capabilities... Idg Communications, Inc. ABN 14 001 592 650 reduce complexity, reduce agents, and reduce without... Smb, it 's a very highly fragmented market 120 organisations and more this to... 7 juni for taking my question here on a diluted basis and totaled approximately 241 million shares bit the... Threat hunters without adding headcount to your CrowdStrike partner Community customer Account the corresponding quarterly last year over.
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