This brief reports what CrowdStrike's 10-Q, filed 2025-08-28, states, and nothing else. Every item below is a sentence the filing contains, quoted exactly and verified character-for-character against the document fetched from EDGAR. No inference is drawn and no claim is made about what any figure means.
The figures
| Metric | Value | Period |
|---|---|---|
| ARR | 4656682 | July 31, 2025 |
| ARR | 3864512 | July 31, 2024 |
| ARR | 20% | July 31, 2025 |
| ARR | 32% | July 31, 2024 |
| ARR | $4.7 billion | July 31, 2025 |
| ARR | $3.9 billion | July 31, 2024 |
| Sales and marketing expenses | 26% | six months ended July 31, 2025 |
| Average headcount in sales and marketing | 13% | six months ended July 31, 2025 |
| Research and development expenses | 40% | six months ended July 31, 2025 |
| Average headcount in research and development | 22% | six months ended July 31, 2025 |
| General and administrative expenses | 63% | six months ended July 31, 2025 |
| Average headcount in general and administrative | 16% | six months ended July 31, 2025 |
Every figure above is quoted from the filing; the sentence it was read from appears under its beat below.
The evidence, by beat
ARR / NRR / NDR growth or dilution
Annual recurring revenue$4,656,682 $3,864,512
Annual recurring revenue$4,656,682 $3,864,512
Year-over-year growth20 %32 %
Year-over-year growth20 %32 %
ARR grew to $4.7 billion as of July 31, 2025, of which $221.1 million and $414.8 million was net new ARR added for the three and six months ended July 31, 2025, respectively.
ARR grew to $3.9 billion as of July 31, 2024, of which $217.6 million and $429.3 million was net new ARR added for the three and six months ended July 31, 2024, respectively.
Our dollar-based net retention rate continued to be strong as of July 31, 2025.
seat vs consumption / usage-based pricing mix shift
The filing names this beat, but no statement in it verified as a verbatim quote, so none is reported here.
competitive displacement / win-loss / platform consolidation
We have also experienced, and expect to continue to experience, longer sales cycles in connection with the July 19 Incident.
We may also experience longer sales cycles as customers seek to consolidate on our Falcon platform and negotiate larger deals, including in connection with our flexible subscription offering.
We face intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition, and results of operations.
Our ability to compete effectively depends upon numerous factors, many of which are beyond our control, including, but not limited to:•product capabilities, including performance and reliability, of our Falcon platform, including our cloud modules, services, and features compared to those of our competitors;
Our competitors include the following by general category:•legacy antivirus product providers who offer a broad range of approaches and solutions including traditional signature-based anti-virus protection;•alternative endpoint security providers who generally offer a mix of on-premise and cloud-hosted products that rely heavily on malware-only or application whitelisting techniques;•network security vendors who are supplementing their core perimeter-based offerings with endpoint or cloud security solutions;•cloud security vendors, including those who focus on public cloud infrastructure and services;•identity security vendors that seek to identify and secure user accounts and related activities; •professional service providers who offer cybersecurity response services; and•legacy SIEM vendors who offer a range of log management and security capabilities.
Many of our competitors have greater financial, technical, marketing, sales, and other resources, greater name recognition, longer operating histories, and a larger base of customers than we do.
They may be able to devote greater resources to the development, promotion, and sale of services than we can, and they may offer lower pricing than we do.
Further, they may have greater resources for research and development of new technologies, the provision of customer support, and the pursuit of acquisitions.
Our larger competitors have substantially broader and more diverse product and services offerings as well as routes to market, which allows them to leverage their relationships based on other products or incorporate functionality into existing products to gain business in a manner that discourages users from purchasing our platform, including our cloud modules.
Our competitors may more successfully incorporate AI into their products, gain or leverage superior access to certain AI technologies, and achieve higher market acceptance of their AI solutions.
Conditions in our market could also change rapidly and significantly due to partnering or acquisitions by our competitors or continuing market consolidation.
Some of our competitors have recently made acquisitions of businesses or have established cooperative relationships that may allow them to offer more directly competitive and comprehensive solutions than were previously offered and adapt more quickly to new technologies and customer needs.
These competitive pressures in our market or our failure to compete effectively may result in price reductions, fewer orders, reduced revenue and gross margins, increased net losses and loss of market share.
AI product monetisation / attach
The filing names this beat, but no statement in it verified as a verbatim quote, so none is reported here.
guidance raised/cut, outlook change
The filing names this beat, but no statement in it verified as a verbatim quote, so none is reported here.
cost action / restructuring / headcount
Sales and marketing expenses increased by $181.1 million, or 26%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024. The increase in sales and marketing expenses was primarily due to an increase in employee-related expenses of $94.2 million driven by a 13% increase in average headcount, an increase in stock-based compensation expense of $24.1 million, an increase in marketing programs of $17.4 million, an increase in allocated overhead costs of $11.4 million, an increase in employee benefits of $9.8 million, charges related to the Plan of $8.7 million, an increase in travel expenses of $8.1 million, and an increase in term-based software licenses of $2.1 million, partially offset by a decrease in company events expenses of $5.3 million, and a decrease of $2.5 million of expenses associated with the July 19 Incident and related matters.
Sales and marketing expenses increased by $181.1 million, or 26%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024. The increase in sales and marketing expenses was primarily due to an increase in employee-related expenses of $94.2 million driven by a 13% increase in average headcount, an increase in stock-based compensation expense of $24.1 million, an increase in marketing programs of $17.4 million, an increase in allocated overhead costs of $11.4 million, an increase in employee benefits of $9.8 million, charges related to the Plan of $8.7 million, an increase in travel expenses of $8.1 million, and an increase in term-based software licenses of $2.1 million, partially offset by a decrease in company events expenses of $5.3 million, and a decrease of $2.5 million of expenses associated with the July 19 Incident and related matters.
Research and development expenses increased by $194.6 million, or 40%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024. This increase was primarily due to an increase in stock-based compensation expense of $71.7 million, an increase in employee-related expenses of $66.8 million driven by a 22% increase in average headcount, an increase in cloud hosting and related costs of $25.1 million, charges related to the Plan of $16.7 million, an increase in allocated overhead costs of $13.7 million, an increase in employee benefits of $8.9 million, and an increase in term-based software licenses of $1.9 million, partially offset by an increase in software capitalization of $10.4 million, a decrease in other labor expenses of $8.8 million, and a decrease in depreciation of data center equipment of $1.1 million.
Research and development expenses increased by $194.6 million, or 40%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024. This increase was primarily due to an increase in stock-based compensation expense of $71.7 million, an increase in employee-related expenses of $66.8 million driven by a 22% increase in average headcount, an increase in cloud hosting and related costs of $25.1 million, charges related to the Plan of $16.7 million, an increase in allocated overhead costs of $13.7 million, an increase in employee benefits of $8.9 million, and an increase in term-based software licenses of $1.9 million, partially offset by an increase in software capitalization of $10.4 million, a decrease in other labor expenses of $8.8 million, and a decrease in depreciation of data center equipment of $1.1 million.
General and administrative expenses increased by $133.0 million, or 63%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024. The increase in general and administrative expenses was primarily due to an increase in expenses associated with the July 19 Incident and related matters of $72.9 million, an increase in stock-based compensation expense of $21.2 million, charges related to the Plan of $12.7 million, an increase in employee-related expenses of $11.8 million driven by a 16% increase in average headcount, an increase in legal expense of $3.1 million unrelated to the July 19 Incident or related matters, an increase in term-based software licenses of $2.5 million, an increase in travel expenses of $2.5 million, and an increase in allocated overhead costs of $2.4 million, partially offset by a decrease in consulting expense of $1.2 million.
General and administrative expenses increased by $133.0 million, or 63%, for the six months ended July 31, 2025 compared to the six months ended July 31, 2024. The increase in general and administrative expenses was primarily due to an increase in expenses associated with the July 19 Incident and related matters of $72.9 million, an increase in stock-based compensation expense of $21.2 million, charges related to the Plan of $12.7 million, an increase in employee-related expenses of $11.8 million driven by a 16% increase in average headcount, an increase in legal expense of $3.1 million unrelated to the July 19 Incident or related matters, an increase in term-based software licenses of $2.5 million, an increase in travel expenses of $2.5 million, and an increase in allocated overhead costs of $2.4 million, partially offset by a decrease in consulting expense of $1.2 million.
Verification ledger
- 26 statements proposed by the extractor
- 26 verified verbatim against the fetched filing (100%)
- 0 discarded — not quotable character-for-character
The verbatim check contains no model: the extractor proposes a statement, and a deterministic substring match against the fetched text decides whether it is admissible. A proposal that does not verify is dropped.
This brief publishes no inference and no synthesis. The publication's inference layer must clear a measured second-lab confirmation threshold before it may appear; it has not, so it is absent by rule rather than by omission.