Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
|---|
| Record GAAP and non-GAAP profitability |
| So we feel really good about it and that’s -- to us, it’s still a growing market |
| And the Humio team that we acquired has just done a fantastic job and we’ve taken it to the next level |
| So, George, really impressive results this week |
| You continue to exceed people’s expectations |
| I think just, in general, phenomenal execution to our team |
| But when you look at some of the other players in the market that are $30 a month, we’re $20 for the year and we think we’ve got a better product |
| We believe we’ve got the right licensing mechanisms to be able to effectively compete |
| So I think there’s a lot to come in that area, but in general it’s been very sticky and very good for customers to realize we’re open, our competitors are closed |
| Then you combine the piece of cloud workload protection with CSPM, now with application security posture management, now with data security posture management, which we just acquired with Flow and we believe we’ve got the best cloud offering in the market |
| So public cloud ARR surpassed $400 million, net new ARR growing 200% |
| And we and our customers who have been using it are really excited about that |
| But ultimately, I think the best platforms win and we think it’s going to be us |
| And again, we believe we’ve got the right product |
| So that surpassed $150 million in ARR in the latest quarter |
| Today it’s over $300 million ARR and more than doubling year-on-year |
| We basically said we’re going to take their technology with a great team and we’re going to carefully rewrite it into our agent, because our brand promise to our customers is single agent architecture |
| I think the ability to continue to scale and have best-in-class economics, unit economics, is really important to us and then obviously that accrues value and generates cash flow |
| We haven’t fully monetized that and that’s okay because we really wanted to build critical mass around it and I think we have some really good opportunities in the future to harvest that more |
| So that is, I think, a huge opportunity for us, and I was actually on a Board call yesterday in between meetings talking to an entire Board just about that and they’re a customer of ours |
| So we think that is going to be best in class in the industry and we can’t be more excited for the team and the technology |
| So this is a really powerful solution when you use it |
| But it’s the single agent, the ability to collect data at scale that then unlocks all of the other modules because we’ve already collected the data and that gives you the leverage in the gross margin, almost every other module we add is pure gross margin |
| The ingest was incredibly expensive and they said, we want something better, and there’s been some catalysts in the market with acquisitions and things of that nature |
| So just in that one area of endpoint protection, there’s such a huge runway to be able to convert customers over |
| Almost $3.5 billion ARR growing 34% year-on-year |
| There’s been some pretty strong early traction since you launched your Falcon conference |
| But what we’re going to see just in general with generative AI is the ability to actually prevent and identify these attacks, which is great |
| So what they basically said is, we want better, faster, cheaper |
| Once we did that, then we went mainstream with the sales force and then all of a sudden, you know, it was one of the fastest growing modules in the history of CrowdStrike, because all you need to do is turn it on |
| Statement |
|---|
| So overall, the problem is there |
| There’s a problem |
| So they were not quite happy about that |
| Record net new ARR growing 27% in a time where a lot of software companies in general are struggling to grow new bookings |
| But what we found and what I found there is that you had inferior products that were being bundled into a best-of-suite and it wasn’t a great outcome for the customer |
| So clearly no signs of slowdown or fatigue, if you will |
| It’s expensive to manage |
| There’s an issue |
| When we think about those requirements, they’re pretty stiff |
| And security really has come from the backroom to the boardroom because now there’s real impact |
| It’s -- when people see it in action, they’re blown away |
| There’s not enough skilled security people |
| Just could you respond to some of those concerns that the market might get more competitive? Thank you |
| And it was just that missing, what I thought, generational security company |
| And a key part of our technology is, we never lose the context from the endpoint or the workload as it gets to the cloud |
| The challenge you always have is the IT teams want their own stuff and the security teams want their own stuff |
| So for me, I love markets that there’s a lot of dissatisfaction with a lot of legacy players and in our world, there really isn’t a modern technology, particularly on the endpoint |
| But -- so you’ve seen a lot of companies who have attempted to become platforms in cybersecurity and have come up short |
| You had some major breaches, MGM, Caesars, et cetera, ransomware attacks almost doubled from last year |
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