CrowdStrike Holdings Inc (CRWD) 2025 Q2 法說會逐字稿

Hello, and welcome to CrowdStrike's Fiscal Second Quarter 2025 Financial Results Conference Call.

您好，歡迎參加 CrowdStrike 2025 年第二季財務業績電話會議。

At this time, all participants are in a listen-only mode.

此時，所有參與者都處於只聽模式。

After the speakers' presentation, we will conduct a question-and-answer session.

演講者演講結束後，我們將進行問答環節。

Please be advised that today's conference is being recorded.

請注意，今天的會議正在錄製中。

I would now like to hand the call over to Maria Riley, Vice President of Investor Relations.

我現在想將電話轉給投資者關係副總裁瑪麗亞·賴利 (Maria Riley)。

Maria, please go ahead.

瑪麗亞，請繼續。

Good afternoon, and thank you for your participation today.

下午好，感謝您今天的參與。

With me on the call are George Kurtz, President and Chief Executive Officer and Co-Founder of CrowdStrike; and Burt Podbere, Chief Financial Officer.

和我一起參加電話會議的是 CrowdStrike 總裁兼執行長兼聯合創始人 George Kurtz；和財務長伯特·波德貝爾。

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, including projections, and expected performance, including our outlook for the third quarter and fiscal year 2025, and any assumptions for fiscal periods beyond that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

在我們開始之前，我想指出，本次電話會議期間所做的某些陳述並非歷史事實，包括有關我們未來計劃、目標、成長（包括預測）和預期業績（包括我們對第三季和第三季度的展望）的陳述。

These forward-looking statements represent our outlook only as of the date of this call.

這些前瞻性陳述僅代表我們截至本次電話會議之日的展望。

While we 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.

雖然我們相信我們所做的任何前瞻性陳述都是合理的，但實際結果可能會存在重大差異，因為這些陳述是基於當前的預期，並受到風險和不確定性的影響。

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.

我們不承擔並明確否認任何更新或更改我們的前瞻性陳述的義務，無論是由於新資訊、未來事件或其他原因。

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 Reports.

有關這些因素和其他可能影響公司財務表現的因素的更多資​​訊包含在我們不時向 SEC 提交的文件中，包括公司季度和年度報告中標題為「風險因素」的部分。

Additionally, unless otherwise stated, excluding revenue, all financial measures disclosed on this call will be non-GAAP.

此外，除非另有說明，除收入外，本次電話會議所揭露的所有財務指標都將不按公認會計準則計算。

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 earnings press release, which may be found on our Investor Relations website at ir.crowdstrike.com or on our Form 8K filed with the SEC today.

關於我們為何使用非GAAP 財務指標的討論以及顯示GAAP 與非GAAP 結果的對賬表目前可在我們的收益新聞稿中找到，該新聞稿可在我們的投資者關係網站ir.crowdstrike.com 或我們的表格中找到8K 今天向 SEC 提交了申請。

With that, I will now turn the call over to George.

現在，我將把電話轉給喬治。

I would like to start today's remarks with my apology to everyone impacted by our Channel File 291 Incident, which transpired on July 19.

在今天的演講開始時，我想向所有受到 7 月 19 日發生的頻道文件 291 事件影響的人致歉。

I also want to take this moment to show my gratitude to everyone who worked with us through the incident.

我還想藉此機會向所有在這事件中與我們合作的人表示感謝。

Thank you to our customers and partners for your continued trust.

感謝我們的客戶和合作夥伴一直以來的信任。

Thank you to our team of relentless CrowdStrikers for living our mission.

感謝我們不懈的 CrowdStrikers 團隊履行我們的使命。

Thank you to the broader cybersecurity and IT community for standing with us as we face the most challenging event in our company history.

感謝更廣泛的網路安全和 IT 社群在我們面臨公司歷史上最具挑戰性的事件時與我們站在一起。

The magnitude of the July 19 incident will never be lost on me and my commitment is to make sure this never happens again.

我永遠不會忘記 7 月 19 日事件的嚴重性，我的承諾是確保這種情況不再發生。

The days following the incident were among the most challenging in my career because I deeply felt what our customers experienced.

事件發生後的幾天是我職業生涯中最具挑戰性的日子，因為我深深感受到了客戶的體驗。

Our response to the July 19, incident was immediate, deliberate, and focused.

我們對 7 月 19 日事件的反應是立即、深思熟慮且重點突出的。

We activated CrowdStrike's crisis response plan to lead through the incident.

我們啟動了 CrowdStrike 的危機應變計畫來解決這件事。

We clearly communicated status with customers, partners in the market at large on our website, social media, email, phone, and broadcast.

我們透過網站、社群媒體、電子郵件、電話和廣播與客戶、整個市場的合作夥伴清楚地傳達了狀態。

Our technical teams devised new automated recovery techniques for accelerated response.

我們的技術團隊設計了新的自動恢復技術來加速回應。

Our efforts were 100% focused on bringing impacted devices back online with the highest level of speed and transparency.

我們的努力 100% 專注於以最高的速度和透明度讓受影響的設備重新上線。

This included the mobilization of CrowdStrikers in our partner community to communicate proactively and transparently with customers, as well as the market at large, and then recover impacted hosts.

這包括動員我們合作夥伴社群中的 CrowdStrikers 與客戶以及整個市場進行主動、透明的溝通，然後恢復受影響的主機。

For many, recovery was within hours.

對許多人來說，幾個小時內就可以康復。

We've already implemented the following actions to build a more resilient Falcon platform.

我們已經實施了以下行動來建立更具彈性的 Falcon 平台。

First, enhanced content visibility and control.

首先，增強內容可見度和控制力。

While sensor version control was always a cornerstone of the Falcon operational experience, we've already released new content control configurations.

雖然感測器版本控制始終是 Falcon 操作體驗的基石，但我們已經發布了新的內容控製配置。

This allows customers to choose when and where new Falcon content is deployed with new granular controls.

這使得客戶可以透過新的精細控制來選擇何時何地部署新的 Falcon 內容。

Second, content QA enhancements.

其次，內容品質檢查增強。

We already shipped an enhanced content validator and content interpreter, two of the components which did not properly function.

我們已經發布了增強的內容驗證器和內容解釋器，這兩個元件無法正常運作。

These components have been refactored to prevent shipping erroneous content and were both made GA earlier in August.

這些組件已經過重構，以防止發布錯誤內容，並且都已於 8 月初正式發布。

And third, external review and validation.

第三，外部審查和驗證。

We've engaged two independent third-party software security vendors to review the Falcon sensor code and quality control process.

我們聘請了兩家獨立的第三方軟體安全供應商來審查 Falcon 感測器程式碼和品質控制流程。

This ongoing work focuses on enhancing security and resiliency over the short, medium, and long-term.

這項正在進行的工作重點是增強短期、中期和長期的安全性和彈性。

These three major actions are in addition to an enhanced content release process.

這三項主要行動是對增強的內容發佈流程的補充。

Our content release process now mirrors the sensor release regimen.

我們的內容發布流程現在反映了感測器發布方案。

It consists of sample testing, internal lab, and canary systems testing, early access soaking, and lastly a staggered concentric ring deployment in adherence with customer policy settings.

它包括樣本測試、內部實驗室和金絲雀系統測試、早期訪問浸泡，最後是符合客戶策略設置的交錯同心環部署。

The July 19 incident starts a new chapter for CrowdStrike, one focused on ensuring that cybersecurity's best AI platform for SOC operations, protection, visibility, response, and automation is also cybersecurity's most resilient platform.

7 月 19 日的事件開啟了 CrowdStrike 的新篇章，其重點是確保網路安全用於 SOC 操作、保護、可見性、回應和自動化的最佳人工智慧平台也是網路安全最具彈性的平台。

With built-in redundancy modes, new content controls and enhanced safeguards, we've immediately addressed learnings from the incident and will continue to apply and evolve these lessons into our future.

憑藉內建的冗餘模式、新的內容控制和增強的保障措施，我們立即吸取了該事件的教訓，並將繼續將這些經驗教訓應用到我們的未來。

Moving to our Q2 results.

轉向我們的第二季業績。

Our execution following the July 19 incident highlights the resiliency of CrowdStrike's business.

我們在 7 月 19 日事件之後的執行突顯了 CrowdStrike 業務的彈性。

Our focus on transparency and accountability continues to inspire trust.

我們對透明度和問責制的關注繼續激發信任。

Our track record and third-party validation of delivering the industry's best AI-powered protection continues to resonate at scale.

我們在提供業界最佳人工智慧驅動保護方面的業績記錄和第三方驗證繼續在規模上引起共鳴。

As the July 19 incident was in the final two weeks of the quarter when a meaningful portion of our sales typically close, it delayed deals into subsequent quarters.

由於 7 月 19 日的事件發生在該季度的最後兩週，當時我們銷售的很大一部分通常會結束，因此將交易推遲到隨後的幾個季度。

The vast majority of these deals remain in our pipeline.

這些交易中的絕大多數仍在我們的籌備中。

Despite this impact, I'm encouraged by the results we delivered.

儘管有這種影響，但我們所取得的成果令我感到鼓舞。

The enduring trust that prospects, customers, and the market have in CrowdStrike is demonstrated by our Q2 performance.

我們第二季的表現證明了潛在客戶、客戶和市場對 CrowdStrike 的持久信任。

Ending ARR of $3.86 billion, growing 32% year-over-year.

年終 ARR 為 38.6 億美元，年增 32%。

Q2 net new ARR of $218 million, up 11% year-over-year within our pre-incident stated assumptions.

第二季淨新 ARR 為 2.18 億美元，在我們事前陳述的假設範圍內年增 11%。

Q2 revenue of $964 million also ahead of our guidance.

第二季營收為 9.64 億美元，也超出了我們的預期。

Record non-GAAP operating income of $227 million, growing 46% year-over-year.

非 GAAP 營業收入達到創紀錄的 2.27 億美元，年增 46%。

GAAP profitability for the sixth consecutive quarter, and free cash flow of $272 million at 28% of revenue with a free cash flow Rule of 60.

GAAP 連續第六個季度實現盈利，自由現金流為 2.72 億美元，佔收入的 28%（自由現金流規則為 60）。

These financial results illustrate the resilience of our business and our team.

這些財務表現說明了我們的業務和團隊的韌性。

Customers, prospects, and partners recognize CrowdStrike's technological leadership and role in serving the market need for ongoing platform consolidation.

客戶、潛在客戶和合作夥伴認可 CrowdStrike 的技術領先地位以及在滿足持續平台整合的市場需求方面所發揮的作用。

This is why they continue to choose CrowdStrike.

這就是他們繼續選擇 CrowdStrike 的原因。

In the 100s of customer interactions I've had since the July 19, incident, organizations of all sizes thematically shared three messages with me.

自 7 月 19 日事件以來，在我進行的數百次客戶互動中，各種規模的組織按主題與我分享了三個訊息。

First, necessity to understand the incident, our response, and our actions to ensure it doesn't happen again.

首先，有必要了解該事件、我們的反應以及我們的行動，以確保類似事件不再發生。

Second, acknowledgment of our trust record, gratitude for CrowdStrike safeguarding their organization over the years, and third, steadfast support for CrowdStrike continuing to be cybersecurity's innovation leader and their consolidation partner of choice.

其次，感謝我們的信任記錄，感謝 CrowdStrike 多年來保護其組織的安全；第三，堅定支持 CrowdStrike 繼續成為網路安全的創新領導者及其首選的整合合作夥伴。

The breadth and depth of the Falcon platform spans 28 modules that revolutionize cybersecurity, stopping breaches for tomorrow's AI-powered SOC, covering cloud security, identity protection, device security, data protection, IT automation, and next-generation SIEM, our portfolio is diversified.

Falcon平台的廣度和深度涵蓋28個模組，這些模組徹底改變了網路安全，阻止了未來人工智慧驅動的SOC的違規行為，涵蓋雲端安全、身分保護、設備安全、資料保護、IT自動化和下一代SIEM ，我們的產品組合是多元化的。

CrowdStrike is much more than EDR and we appeal to a variety of personas across cybersecurity, IT, digital, risk, and compliance teams.

CrowdStrike 不僅僅是 EDR，我們還吸引網路安全、IT、數位、風險和合規團隊中的各種角色。

Over the past year, our LogScale next-gen SIEM, identity protection, and cloud security businesses each expanded the power and reach of the Falcon platform, each representing resilient growth vectors outside of what was once considered our market back when I started the company.

在過去的一年裡，我們的LogScale 下一代SIEM、身分保護和雲端安全業務都擴​​展了Falcon 平台的功能和範圍，每個業務都代表了在我創辦公司時曾經被視為我們的市場之外的彈性成長向量。

In Q2, our LogScale next-gen SIEM, Identity protection, and cloud security hyper growth businesses together surpassed $1 billion in ending ARR and grew more than 85% year-over-year.

第二季度，我們的 LogScale 下一代 SIEM、身分保護和雲端安全高速成長業務的年終 ARR 合計超過 10 億美元，較去年同期成長超過 85%。

These results re-affirm our continued and increasing investment in innovation, ushering in the next chapter of the Falcon platform.

這些結果再次證實了我們對創新的持續和不斷增加的投資，開啟了 Falcon 平台的新篇章。

Let me provide a few examples showcasing how these products are disrupting their respective markets.

讓我提供一些例子來展示這些產品如何擾亂各自的市場。

Importantly, each of these customer wins was closed after the July 19, incident began.

重要的是，這些客戶的勝利都在 7 月 19 日事件開始後結束。

I'll start with Falcon Cloud Security, the industry's only integrated CSPM, ASPM, DSPM, CIEM, CWP agent, and agentless solution.

我將從 Falcon Cloud Security 開始，它是業界唯一整合的 CSPM、ASPM、DSPM、CIEM、CWP 代理和無代理解決方案。

CrowdStrike's Cloud Security business is now more than $515 million in ARR and grew faster than 80% year-over-year.

CrowdStrike 的雲端安全業務目前的 ARR 超過 5.15 億美元，年成長速度超過 80%。

Two noteworthy post July 19, wins, an eight-figure deal in a major enterprise software firm where Falcon Cloud Security was already running on a part of the environment, replacing another next-gen Cloud Security vendor allowed this customer the opportunity to standardize on Falcon Cloud Security for ease of management across broad distributions and superior cloud security protection.

7 月19 日，兩項值得注意的勝利，一家大型企業軟體公司達成了一筆八位數的交易，其中Falcon Cloud Security 已經在部分環境中運行，取代了另一家下一代雲端安全供應商，使該客戶有機會在Falcon 上實現標準化雲端安全性可輕鬆管理廣泛的發行版並提供卓越的雲端安全保護。

Next, a nine-figure Falcon Cloud Security purchase across a million hosts in a large enterprise for their production environment.

接下來，斥資九位數的 Falcon Cloud Security 購買了一家大型企業的 100 萬台主機，用於其生產環境。

Falcon Cloud Security's leading protection, visibility, and operational scoring in their evaluation placed CrowdStrike ahead of other cloud security products.

Falcon Cloud Security 在評估中領先的保護、可見性和操作評分使 CrowdStrike 領先於其他雲端安全產品。

Falcon Identity Protection continues to set the industry standard in the identity threat detection and response space.

Falcon Identity Protection 繼續在身分威脅偵測和回應領域樹立業界標準。

As of Q2, identity ending ARR surpassed $350 million, growing over 70% year-over-year.

截至第二季度，身份終結 ARR 超過 3.5 億美元，年增超過 70%。

We pioneered this category and it's a key differentiator in our XDR value proposition.

我們開創了這個類別，它是我們 XDR 價值主張的關鍵差異化因素。

Now let's move to the LogScale next-gen SIEM business, which is greater than $220 million in ARR and grew more than 140% year-over-year.

現在讓我們轉向 LogScale 下一代 SIEM 業務，該業務的 ARR 超過 2.2 億美元，比去年同期成長超過 140%。

The SIEM market continues to be in a state of renaissance where organizations of all sizes are drafting their next chapter of security and IT data management.

SIEM 市場繼續處於復興狀態，各種規模的組織都在起草安全和 IT 資料管理的下一章。

Our LogScale next-gen SIEM momentum showcases CrowdStrike's ability to displace legacy SIEMs at scale and capitalize on market demand for AI-powered SOC operations.

我們的 LogScale 下一代 SIEM 勢頭展示了 CrowdStrike 大規模取代傳統 SIEM 並利用人工智慧驅動的 SOC 運營的市場需求的能力。

Two exciting post-July 19 wins include an eight-figure win in which LogScale next-gen SIEM replaced two legacy SIEMs.

7 月 19 日之後的兩場激動人心的勝利包括一場八位數的勝利，其中 LogScale 下一代 SIEM 取代了兩個傳統 SIEM。

This customer was already a large CrowdStrike customer and the ability to store, visualize, and action large amounts of first-party CrowdStrike data natively in the platform significantly lower cost by more than 60% while increasing functionality.

該客戶已經是 CrowdStrike 的大客戶，能夠在平台中本地儲存、視覺化和操作大量第一方 CrowdStrike 數據，在增加功能的同時，顯著降低了 60% 以上的成本。

Ingesting third-party data into the Falcon platform is not only more cost-effective, but also differentiated in our incident workbench, which brings novel visibility and AI-powered response to the hands of every SOC analyst.

將第三方資料引入 Falcon 平台不僅更具成本效益，而且在我們的事件工作台中也具有差異化，這為每個 SOC 分析師帶來了新穎的可見性和人工智慧驅動的回應。

What once took two Legacy SIEMs is now natively in Falcon.

曾經需要兩個舊版 SIEM 才能完成的任務現在已經在 Falcon 中實現了。

And finally, a leading generative AI company that started using LogScale next-gen SIEM over a year ago standardized on the technology in a seven-figure win.

最後，一家領先的生成式人工智慧公司在一年前開始使用 LogScale 下一代 SIEM，對該技術進行了標準化，並獲得了七位數的勝利。

Winning the totality of their SIEM business as well as observability use cases was a function of LogScale next-gen SIEM search speed, the native nature of Falcon data coupled with third-party data, and response actions and improved TCO relative to their legacy SIEM.

贏得整個 SIEM 業務以及可觀測性用例的關鍵因素包括 LogScale 下一代 SIEM 搜尋速度、Falcon 資料與第三方資料相結合的本機性質，以及相對於傳統 SIEM 的回應操作和改進的 TCO。

I'm reassured by customers' and prospects' feedback, wanting to do more with CrowdStrike post-incident as evidenced by multiple seven and eight figure platform expansions with most opting for multi-year deals.

客戶和潛在客戶的回饋讓我感到放心，他們希望在事件發生後利用CrowdStrike 做更多事情，多次七位數和八位數的平台擴展證明了這一點，其中大多數人選擇了多年期交易。

Eliminating complexity is a key component of achieving resilience and we see the Falcon platform continuing to help solve a wide range of customer problems, simplifying cyber security, and most importantly, stopping breaches.

消除複雜性是實現彈性的關鍵組成部分，我們看到 Falcon 平台繼續幫助解決各種客戶問題，簡化網路安全，最重要的是阻止違規行為。

Our partner first go-to-market continues to deliver at scale, connecting our technology platform with new and existing customers.

我們的合作夥伴優先進入市場繼續大規模交付，將我們的技術平台與新客戶和現有客戶連接起來。

CrowdStrike's preeminent partner position as a top security vendor by business size and number of transactions serves as a competitive moat.

CrowdStrike 在業務規模和交易數量方面作為頂級安全供應商的卓越合作夥伴地位是一條競爭護城河。

In Q2, 66% of our new logo business was sourced by our partners, showcasing our best-in-class partner go-to-market.

第二季度，我們 66% 的新商標業務來自我們的合作夥伴，展示了我們一流的合作夥伴進入市場的能力。

In Q2, our Systems Integrator business grew over 100% year-over-year, highlighting Falcon as an industry driver in delivering multi-disciplinary cybersecurity transformation.

第二季度，我們的系統整合商業務年增超過 100%，凸顯 Falcon 作為實現多學科網路安全轉型的產業推動者。

Our partners were instrumental in helping customers recover with noteworthy engagement from Accenture, KPMG, and EY among a dozen others.

我們的合作夥伴在埃森哲、畢馬威和安永等十幾家公司的大力參與下，在幫助客戶恢復健康方面發揮了重要作用。

Our strategic alignment and deep partnership extend our reach.

我們的策略聯盟和深厚的合作夥伴關係擴大了我們的影響力。

In this vein, global system integrators are increasingly becoming a central part of our partner strategy as the Falcon Flex subscription model highly resonates with the transformative nature of GSI engagements.

在這種情況下，全球系統整合商日益成為我們合作夥伴策略的核心部分，因為 Falcon Flex 訂閱模式與 GSI 合作的變革性質高度共鳴。

We unite and align our entire partner ecosystem with our use of cloud marketplaces in CrowdStrike's go-to-market.

我們將整個合作夥伴生態系統與 CrowdStrike 上市過程中雲端市場的使用結合並保持一致。

We've demonstrated the success and results of this strategy with AWS, helping customers not only secure their AWS cloud services, but also procure CrowdStrike for the full range of their of their cybersecurity needs.

我們透過 AWS 展示了這項策略的成功和成果，不僅幫助客戶保護其 AWS 雲端服務，還購買 CrowdStrike 來滿足其全方位的網路安全需求。

Now two quarters into our expanded relationship with Google, CrowdStrike is the fastest-growing cybersecurity vendor on the Google Cloud marketplace this year.

現在，我們與 Google 擴大合作關係已經兩個季度了，CrowdStrike 已成為今年 Google Cloud 市場上成長最快的網路安全供應商。

Customers of all sizes are increasingly looking to utilize their committed hyperscaler spend, adding an additional layer of resilience to our go-to-market.

各種規模的客戶越來越希望利用他們承諾的超大規模支出，為我們的市場進入增加一層額外的彈性。

Aligning our entire ecosystem from reseller to systems integrator, MSSPs to distributors makes CrowdStrike cybersecurity's partner of choice, with CrowdStrike, the entire ecosystem wins together.

協調我們從經銷商到系統整合商、MSSP 到經銷商的整個生態系統，使 CrowdStrike 網路安全成為首選合作夥伴，透過 CrowdStrike，整個生態系統共同獲勝。

Our resilient business platform and go-to-market position CrowdStrike to execute on our unchanged vision and mission, whether on July 18, or today, on August 28, our TAM and market opportunity remain unchanged.

我們富有彈性的業務平台和市場定位 CrowdStrike 將執行我們不變的願景和使命，無論是 7 月 18 日，還是今天，即 8 月 28 日，我們的 TAM 和市場機會都保持不變。

This is because, first, the need for cybersecurity simplification.

這是因為，首先，需要簡化網路安全。

Organizations of all sizes remain eager to simplify, consolidate, and rationalize their cybersecurity product lineups.

各種規模的組織仍然渴望簡化、整合和合理化其網路安全產品陣容。

Streamlining operational processes goes hand-in-hand with SOC transformation with the goal of faster, more effective cybersecurity delivered at lower cost.

簡化營運流程與 SOC 轉型並進，目標是以更低的成本提供更快、更有效的網路安全。

Decreasing TCO and increasing efficiencies through AI and automation are clearly voiced organizational priorities and will be for years to come.

透過人工智慧和自動化降低整體擁有成本並提高效率是組織明確提出的優先事項，並將是未來幾年的重點。

Second, adversary proliferation and threat landscape acceleration.

其次，對手擴散和威脅格局加速。

Released in our annual threat report several weeks ago, CrowdStrike's analyst and industry lauded threat intelligence is in a class of its own, now tracking over 245 adversary groups.

幾週前在我們的年度威脅報告中發布的 CrowdStrike 分析師和業界稱讚威脅情報獨一無二，目前正在追蹤超過 245 個對手組織。

In the past year, our threat intelligence teams uncovered threat actors applying to and actively working for more than 100 unique companies.

去年，我們的威脅情報團隊發現威脅行為者已申請並積極為 100 多家獨特的公司工作。

The realities of the threat landscape necessitate effective cyber protection and that is only intensifying.

威脅情勢的現實需要有效的網路保護，而且這種情況只會加劇。

In the face of universally accepted market needs in adversary realities, the resounding feedback I hear from customers is that CrowdStrike is their number one and most effective cybersecurity control.

面對敵對現實中普遍接受的市場需求，我從客戶那裡聽到的強烈回饋是，CrowdStrike 是他們的第一個和最有效的網路安全控制。

This is not only because of product performance and efficacy, but also because of the organizational process and orchestration built on and around Falcon.

這不僅是因為產品性能和功效，還因為基於 Falcon 並圍繞 Falcon 構建的組織流程和編排。

With greater than seven modules on average deployed in organizations spending $100,000 or more per year, the Falcon platform is firmly rooted with replacement requiring a multi-vendor costly and time-consuming process, abandoning the protection and TCO benefits of a single platform consolidation.

由於每年花費100,000 美元或更多的組織中平均部署了超過7 個模組，Falcon 平台牢固地紮根於需要多供應商的昂貴且耗時的流程進行更換，從而放棄了單一平台整合的保護和TCO 優勢。

Our best-in-class module adoption, supercharged by Charlotte AI, our generative AI SOC analyst, makes the Falcon platform sticky for all users as well as the data foundation of the SOC.

我們採用一流的模組，並由我們的生成型 AI SOC 分析師 Charlotte AI 提供大力支持，使 Falcon 平台對所有用戶以及 SOC 的數據基礎都具有黏性。

This is why we continue aggressively investing in innovation to advance our track record of revolutionizing cybersecurity.

這就是為什麼我們繼續積極投資創新，以提高我們在網路安全革命方面的記錄。

This is why customers are looking to not only stay with us but also expand their Falcon platform adoption.

這就是為什麼客戶不僅希望留在我們身邊，而且希望擴大他們的 Falcon 平台採用範圍。

This is why our upcoming annual customer and industry conference, Fal.Con, is what I refer to as our largest selling event of the year.

這就是為什麼我們即將舉行的年度客戶和行業會議 Fal.Con 被我稱為我們今年最大的銷售活動。

It is already an overflow with more than 5,000 security and IT executives and more than 95 sponsoring partners.

它已經擁有超過 5,000 名安全和 IT 高管以及超過 95 個贊助合作夥伴。

Our unchanged vision and mission propels us to become an even better, even more resilient, and even more customer obsessed CrowdStrike.

我們不變的願景和使命推動我們成為一個更好、更有彈性、更以客戶為中心的 CrowdStrike。

In working with customers post-incident, we quickly mobilized around customer loyalty.

在事件發生後與客戶合作時，我們迅速圍繞客戶忠誠度進行動員。

We took inspiration from our Falcon Flex subscription program, a licensing model that's been rapidly gaining traction across all of our customer segments.

我們從 Falcon Flex 訂閱計畫中汲取靈感，這是一種在我們所有客戶群中迅速獲得關注的授權模式。

In the year since we built the Falcon Flex program, the customers who have subscribed to this new licensing model represent over $700 million in total deal value.

自從我們建立 Falcon Flex 計畫以來的一年裡，訂閱這種新授權模式的客戶代表交易總價值超過 7 億美元。

Flex supercharges platform adoption, making it easier and faster for organizations to displace other technologies through flexibility, turning on and moving between modules without procurement and legal friction.

Flex 促進了平台的採用，使組織能夠更輕鬆、更快速地透過靈活性、在模組之間打開和移動而取代其他技術，而無需採購和法律摩擦。

Customers love the flexibility as it makes it easy-to-use more Falcon.

客戶喜歡這種靈活性，因為它使 Falcon 更易於使用。

In Falcon Flex, we also found a simple and effective mechanism to drive retention by offering compelling customer commitment packages.

在 Falcon Flex 中，我們還發現了一種簡單而有效的機制，透過提供引人注目的客戶承諾套件來提高保留率。

Our customer commitment package takes traditional module-by-module licensing into our Falcon Flex model, where customers can use any and all modules they wish at compelling economic values.

我們的客戶承諾套件將傳統的逐個模組授權納入我們的 Falcon Flex 模式中，客戶可以以令人信服的經濟價值使用他們想要的任何和所有模組。

Depending on need, the customer commitment package encompasses discounting, module ads, professional services, flexible payment terms, as well as adding duration to a customer subscription.

根據需要，客戶承諾包包括折扣、模組廣告、專業服務、靈活的付款條件以及增加客戶訂閱的期限。

Our best-in-class module adoption is differentiating and leading indicator of CrowdStrike customers behavior.

我們一流的模組採用是 CrowdStrike 客戶行為的差異化和領先指標。

And post-incident, our customer commitment package will drive even more Falcon utilization and platform value realization in both the short and long-term.

事件發生後，我們的客戶承諾包將在短期和長期內推動更多的 Falcon 利用率和平台價值實現。

Customers see this as an immediate win to realize maximum and differentiated value from the Falcon platform.

客戶認為這是從 Falcon 平台實現最大和差異化價值的直接勝利。

It is also a long-term win for CrowdStrike, cementing us as the organization's cybersecurity platform of record.

這對 CrowdStrike 來說也是一場長期勝利，鞏固了我們作為該組織記錄在案的網路安全平台的地位。

Customer feedback has been extremely positive because we're proactive in our approach and customers benefit because they get what they want more Falcon.

客戶的回饋非常積極，因為我們採取了積極主動的方法，客戶也受益匪淺，因為他們得到了他們想要的更多 Falcon。

The blueprint for our customer commitment packages were Falcon Flex deals like this Fortune 500 insurance firm that I referenced before in the next-gen SIEM discussion.

我們的客戶承諾包的藍圖是 Falcon Flex 交易，就像我之前在下一代 SIEM 討論中提到的這家財富 500 強保險公司。

This customer has been with us for five years building over time from endpoint to identity.

該客戶已經與我們一起工作了五年，隨著時間的推移，從端點到身份的建立。

They had aspirations of consolidation and saw CrowdStrike as a platform where they could achieve their protection, automation, and economic objectives.

他們有整合的願望，並將 CrowdStrike 視為一個可以實現保護、自動化和經濟目標的平台。

In the midst of this deal discussion, the incident happened.

就在這筆交易討論期間，事件發生了。

We work with them on a rapid recovery.

我們與他們一起努力快速康復。

Our trust record and value from the platform over time stood out.

隨著時間的推移，我們的信任記錄和平台價值脫穎而出。

Through Falcon Flex, this customer accelerated consolidation.

透過 Falcon Flex，該客戶加速了整合。

They contracted for every Falcon module displacing seven technologies.

他們為每個獵鷹模組簽訂了合同，取代了七項技術。

And through the AWS marketplace, their spend with CrowdStrike will grow from $2.2 million in ARR to more than $5 million in ARR over the subscription.

透過 AWS 市場，他們在 CrowdStrike 上的訂閱 ARR 支出將從 220 萬美元增加到超過 500 萬美元。

Falcon Flex grew platform adoption through the subscription term and increased ARR over the multiyear period.

Falcon Flex 透過訂閱期限提高了平台採用率，並在多年期間提高了 ARR。

Our customer commitment package will grow Falcon adoption, increasing platform stickiness, ROI, and protection levels.

我們的客戶承諾包將提高 Falcon 的採用率，提高平台黏著度、投資報酬率和保護水準。

Customer commitment packages are a proactive and concerted investment we're making to build long-term loyalty and seed long-term platform adoption.

客戶承諾包是我們為建立長期忠誠度並促進長期平台採用而進行的主動且一致的投資。

In closing, the past few weeks have been some of the most formative for CrowdStrike.

最後，過去幾週是 CrowdStrike 最具成長性的幾週。

Beyond apologies, I want our actions to speak even louder than our words.

除了道歉之外，我希望我們的行動勝於雄辯。

We worked to recover customers quickly, no matter the location or need, we focused on helping customers.

我們致力於快速恢復客戶，無論位置或需求如何，我們都專注於幫助客戶。

Challenging and unprecedented moments like these are the true tests of companies, teams, and individuals.

像這樣充滿挑戰、史無前例的時刻，是對公司、團隊和個人的真正考驗。

Our response has shown me that the golden rule I have led CrowdStrike with since day one, put the customer first always, isn't just alive and well, it's thriving.

我們的回應向我表明，我從第一天起領導 CrowdStrike 時就遵循的黃金法則，即始終將客戶放在第一位，不僅是生機勃勃，而且正在蓬勃發展。

Cybersecurity's mission critical role in today's digital society is undeniable.

網路安全在當今數位社會中的關鍵任務角色是不可否認的。

CrowdStrike's contribution to cybersecurity, bringing cybersecurity to the cloud, bringing AI to cybersecurity has profoundly redefined the industry, and we will continue to do so.

CrowdStrike 對網路安全的貢獻，將網路安全引入雲端，將人工智慧引入網路安全，深刻地重新定義了該行業，我們將繼續這樣做。

We continue to invest in growth and innovation as well as safeguards to build cybersecurity's most resilient AI-powered platform.

我們持續投資於成長、創新以及保障措施，以建構網路安全最具彈性的人工智慧平台。

The mission of We Stop Breaches rings just as true today as it did prior to July 19.

今天，「我們阻止違規行為」的使命與 7 月 19 日之前一樣真實。

The most important part of CrowdStrike is the crowd, the people.

CrowdStrike 最重要的部分是人群、人民。

Working at CrowdStrike isn't a job, it's a mission.

在 CrowdStrike 工作不是一份工作，而是一項使命。

The fight, the creativity, and the will to make the world a safer place by stopping breaches is here.

透過阻止違規行為讓世界變得更安全的鬥爭、創造力和意願就在這裡。

Our mission is alive and well, and I know that CrowdStrike's very best days are ahead of us.

我們的使命仍然存在，我知道 CrowdStrike 最好的日子就在前方。

Thank you for your unwavering trust.

感謝您堅定不移的信任。

And now, I'll turn the call over to our CFO, Burt Podbere.

現在，我將把電話轉給我們的財務長 Burt Podbere。

Thank you, George, and good afternoon, everyone.

謝謝喬治，大家下午好。

As a quick reminder, unless otherwise noted, all numbers except revenue mentioned during my remarks today are non-GAAP.

快速提醒一下，除非另有說明，否則我今天講話中提到的除收入之外的所有數字均為非公認會計原則。

In today's discussion, I will briefly summarize our second quarter financial results and provide our assumptions and investment priorities for the second half of the fiscal year.

在今天的討論中，我將簡要總結我們第二季的財務業績，並提供我們對本財年下半年的假設和投資重點。

The strength of our second quarter results, we believe demonstrates our resilience, focused execution, commitment to financial discipline, and the long-term durability of our business.

我們相信，第二季業績的強勁表現證明了我們的韌性、專注的執行力、對財務紀律的承諾以及我們業務的長期可持續性。

Despite the challenges of the last couple of weeks of the quarter, we delivered better-than-expected revenue, operating profit, and net income.

儘管本季最後幾週面臨挑戰，但我們的收入、營業利潤和淨利潤都比預期好。

In Q2, ending ARR grew 32% year-over-year to $3.86 billion, of which $218 million was net new added in the quarter, up 11% over Q2 of last year, and within our previously stated assumptions for the quarter.

第二季度，期末 ARR 年增 32%，達到 38.6 億美元，其中本季淨新增 2.18 億美元，比去年第二季度增長 11%，符合我們先前對該季度的假設。

In Q2, we achieved our second largest quarter of all time for net new customer additions, expansion business, and net new ARR contribution from cloud, identity, and LogScale combined.

第二季度，我們實現了有史以來第二大季度的淨新客戶增加、業務擴展以及來自雲端、身分和 LogScale 的淨新 ARR 貢獻。

Prior to July 19, we are on pace to deliver net new ARR growth well ahead of these results.

在 7 月 19 日之前，我們將遠早於這些結果實現新 ARR 淨成長。

The July 19 incident had a significant impact on the last two weeks of the quarter, as we rapidly mobilized teams to assist customers, but we continued to close deals, including a 9 figure in deal value expansion.

7 月 19 日的事件對該季度的最後兩週產生了重大影響，因為我們迅速動員團隊協助客戶，但我們繼續完成交易，其中交易價值擴大了 9 位數。

While deals can push in any given quarter, this quarter we experienced elevated levels with more than $60 million in deals that we had line of sight for the quarter and remain open as of Monday.

雖然交易可能在任何特定季度內推進，但本季度我們的交易水平有所上升，我們在該季度的視線中看到了超過 6000 萬美元的交易，並且截至週一仍處於開放狀態。

We expect these deals to close in future quarters.

我們預計這些交易將在未來幾季完成。

Our retention metrics and module adoption metrics remained strong in Q2, highlighting our deep partnership with customers and the significant value the Falcon platform delivers.

我們的保留指標和模組採用指標在第二季度仍然強勁，凸顯了我們與客戶的深厚合作夥伴關係以及 Falcon 平台提供的巨大價值。

Our dollar based gross and net retention rates were consistent with our expectations for the quarter.

我們以美元計算的毛保留率和淨保留率與我們對本季的預期一致。

Subscription customers with five, six, and seven or more modules represented 65%, 45%, and 29% of subscription customers respectively.

擁有五個、六個和七個或更多模組的訂閱客戶分別佔訂閱客戶的 65%、45% 和 29%。

Notably, deals with eight or more modules grew by 66% over the prior year, and 48% of all customers with $100,000 or more in ending ARR, adopted at least eight modules, an increase of more than 10 percentage points over the prior year.

值得注意的是，涉及8 個或更多模組的交易比上一年增長了66%，在最終ARR 為100,000 美元或以上的所有客戶中，48% 採用了至少8 個模組，比前一年增加了10 個百分點以上。

Moving to the P&L.

轉向損益表。

Total revenue grew 32% over Q2 of last year to reach $963.9 million, ahead of our expectations for the quarter.

總營收比去年第二季成長 32%，達到 9.639 億美元，超出了我們對該季度的預期。

Subscription revenue grew 33% over Q2 of last year to reach $918.3 million.

訂閱營收比去年第二季成長 33%，達到 9.183 億美元。

Professional services revenue was $45.6 million, representing 10% year-over-year growth.

專業服務收入為 4,560 萬美元，年增 10%。

The sequential decrease in professional services revenue was primarily attributed to deploying complementary remediation services to help customers impacted by the July 19 incident.

專業服務收入環比下降主要歸因於部署補充補救服務以幫助受 7 月 19 日事件影響的客戶。

Record total gross margin of 78% increased by approximately 80 basis points year-over-year.

總毛利率創歷史新高，達 78%，年增約 80 個基點。

Record subscription gross margin of 81% increased approximately 90 basis points over the prior year.

訂閱毛利率創歷史新高，達 81%，較前一年增加約 90 個基點。

Total non-GAAP operating expenses in the second quarter were $529.1 million or 55% of revenue, compared to 56% of revenue in the prior year.

第二季非 GAAP 營運支出總額為 5.291 億美元，佔營收的 55%，而前一年為營收的 56%。

Consistent with our plan, we increased the pace of hiring, primarily in the areas of sales and marketing and R&D, growing total headcount by 22% year-over-year.

根據我們的計劃，我們加快了招募步伐，主要是在銷售、行銷和研發領域，總人數較去年同期成長了 22%。

In the second quarter, non-GAAP operating income grew 46% year-over-year to reach $226.8 million, and operating margin increased by more than 2 percentage points year-over-year to reach 24%.

第二季度，非公認會計原則營業收入較去年同期成長46%，達到2.268億美元，營業利益率較去年同期成長超過2個百分點，達到24%。

We delivered GAAP net income attributable to CrowdStrike of $47.0 million, growing more than 5x over Q2 of last year.

我們實現了歸屬於 CrowdStrike 的 GAAP 淨利潤 4,700 萬美元，比去年第二季成長了 5 倍以上。

Non-GAAP net income attributable to CrowdStrike grew 45% to reach $260.8 million or $1.04 on a diluted per share basis.

非 GAAP 歸屬於 CrowdStrike 的淨利潤成長 45%，達到 2.608 億美元，即稀釋每股收益 1.04 美元。

Cash and cash equivalents grew to $4.04 billion.

現金及現金等價物增至 40.4 億美元。

Free cash flow grew 44% over Q2 of last year to reach $272.2 million or 28% of revenue, in line with our expectations.

自由現金流比去年第二季成長 44%，達到 2.722 億美元，佔營收的 28%，符合我們的預期。

And we delivered a Rule of 60 on a free cash flow basis.

我們在自由現金流的基礎上製定了 60 條規則。

In regards to the impact of potential legal exposure related to the July 19 incident, I would like to note the following.

關於7月19日事件可能帶來的法律曝光影響，我想指出以下幾點。

The outcome of litigation is inherently difficult to predict, particularly in the early stages, and it is still too early for us to estimate any potential legal exposure we may have at this time.

訴訟的結果本質上很難預測，尤其是在早期階段，我們目前估計可能面臨的任何潛在法律風險還為時過早。

Our customer agreements contain provisions limiting our liability, and we maintain insurance policies intended to mitigate the potential impact of certain claims and have a strong cash position.

我們的客戶協議包含限制我們責任的條款，我們維持保險政策，旨在減輕某些索賠的潛在影響，並擁有強大的現金狀況。

We continue to work hand-in-hand with our customers to ensure their success and are well-positioned to continue investing in the business for long-term growth.

我們繼續與客戶攜手合作，確保他們的成功，並做好充分準備繼續投資業務以實現長期成長。

Turning to our outlook, taking care of our customers has always been and will continue to be our number one priority.

談到我們的前景，照顧客戶一直是並將繼續是我們的首要任務。

We believe this focus and commitment will benefit us and them over the long-term.

我們相信，這種關注和承諾將使我們和他們長期受益。

Customer retention remains remarkably strong and we do not expect this to meaningfully change in the foreseeable future.

客戶保留率仍然非常強勁，我們預計這種情況在可預見的未來不會發生有意義的變化。

Gross retention was 98% at the end of Q2 and dollar-based churn in the last five weeks as of Friday, was modestly lower than the same period last year.

第二季末的總留存率為 98%，截至週五的過去五週內的美元流失率略低於去年同期。

However, visibility into the back half of the year is less than typical.

然而，今年下半年的能見度並不理想。

We expect the following factors to impact our near-term results.

我們預期以下因素將影響我們的近期業績。

First, we delayed the vast majority of outbound pipeline generation activities for a few weeks following the July 19, incident.

首先，我們將 7 月 19 日事件發生後的絕大多數出站管道發電活動推遲了幾週。

Outbound prospecting has since fully resumed and is rising to pre-incident levels of responses.

此後，出境勘探已全面恢復，並已上升至事件發生前的反應水準。

Second, we expect to see extended sales cycles for both new and existing customers, with additional scrutiny requiring higher levels of approval at the CEO and in some cases, Board of Directors level.

其次，我們預期新客戶和現有客戶的銷售週期都會延長，額外的審查需要執行長（某些情況下還需要董事會）更高層級的批准。

Third, as George mentioned, through our customer commitment packages, we are encouraging customers to commit to more of the Falcon platform for longer periods of time.

第三，正如喬治所提到的，透過我們的客戶承諾包，我們鼓勵客戶在更長的時間內承諾使用更多的 Falcon 平台。

We are focused on making sure these commitments to the Falcon platform are one of the best decisions that IT and security teams make.

我們致力於確保對 Falcon 平台的這些承諾是 IT 和安全團隊做出的最佳決策之一。

As reflected in our revenue guidance, in the short-term, we expect our commitment packages will result in temporarily muted upsell dollar values and temporarily higher than typical levels of contraction due to elongated subscription terms.

正如我們的收入指引所反映的，在短期內，我們預期我們的承諾方案將導致追加銷售美元價值暫時減弱，並由於訂閱期限延長而暫時高於典型的收縮水平。

We estimate these packages will impact net new ARR and subscription revenue by approximately $60 million and professional service revenue by high-single digit million dollars in the back half of FY25.

我們估計，這些套餐將在 2025 財年下半年影響淨新 ARR 和訂閱收入約 6,000 萬美元，以及專業服務收入高達百萬美元。

In the long-term, we expect our customer commitment packages will ultimately lead to higher platform and module adoption and deeper partnerships with customers.

從長遠來看，我們預計我們的客戶承諾套件最終將帶來更高的平台和模組採用率以及與客戶更深入的合作關係。

And fourth, specific to free cash flow, we expect to have increased flexible payment terms for our customers and we will incur additional G&A costs associated with the July 19, incident.

第四，具體到自由現金流，我們預計將為客戶提供更靈活的付款條件，並且我們將承擔與 7 月 19 日事件相關的額外一般管理費用。

At this point in time, we are not providing a free cash flow margin expectation for the full year.

目前，我們尚未提供全年自由現金流利潤率預期。

We will maintain our long-standing focus on financial discipline and the bottom line with our attention squarely on the highest and best use of every dollar.

我們將繼續長期關注財務紀律和底線，並專注於每一美元的最高和最佳利用。

As reflected in our guidance for the remainder of the year, while we will shift some planned investment from sales and marketing to further R&D, quality assurance, and customer support, we are continuing to invest in our FY 2025 plan for the remainder of the year at this point in time.

正如我們今年剩餘時間的指導所反映的，雖然我們將把一些計劃投資從銷售和營銷轉移到進一步的研發、品質保證和客戶支持，但我們將繼續投資於今年剩餘時間的 2025 財年計劃此時此刻。

This will enable us to remain focused on our customers, protect the world against cyber threats, and stay on track with our long-term investment and growth priorities.

這將使我們能夠繼續專注於我們的客戶，保護世界免受網路威脅，並保持我們的長期投資和成長優先事項的軌道。

We expect these headwinds to remain in varying degrees for about a year with acceleration starting in the back half of next year.

我們預計這些不利因素將在一年左右的時間內不同程度地持續，並在明年下半年開始加速。

From the longer-term perspective, we expect to see operating margin improvement on an annual basis in FY26.

從長遠來看，我們預計 2026 財年營業利潤率將逐年改善。

Additionally, we remain committed to reaching $10 billion in ending ARR by the end of fiscal year 2031 and achieving our target non-GAAP operating model on an annual basis by fiscal year 2029.

此外，我們仍致力於在 2031 財年結束前實現 100 億美元的 ARR，並在 2029 財年之前實現我們的年度非 GAAP 營運模式目標。

I will provide a detailed update of our long-term model and FY26 outlook after the conclusion of fiscal year 2025.

我將在 2025 財年結束後提供我們長期模型和 26 財年展望的詳細更新。

Moving to our guidance.

轉向我們的指導。

For the third quarter of FY25, we expect total revenue to be in the range of $979.2 million to $984.7 million, reflecting a year-over-year growth rate of 25%.

對於 25 財年第三季度，我們預計總營收將在 9.792 億美元至 9.847 億美元之間，年成長率為 25%。

This includes an estimated $30 million impact from the customer commitment package we discussed earlier.

這包括我們之前討論的客戶承諾包帶來的約 3000 萬美元的影響。

We expect non-GAAP income from operations to be in the range of $166.7 million to $170.8 million, and non-GAAP net income attributable to CrowdStrike to be in the range of $201.2 million to $205.2 million.

我們預計非 GAAP 營運收入將在 1.667 億美元至 1.708 億美元之間，非 GAAP 歸屬於 CrowdStrike 的淨利潤將在 2.012 億美元至 2.052 億美元之間。

We expect diluted non-GAAP net income per share attributable to CrowdStrike to be approximately $0.80 to $0.81, utilizing a weighted average share count of approximately 252 million shares on a diluted basis.

我們預計 CrowdStrike 攤薄後的非 GAAP 每股淨利潤約為 0.80 至 0.81 美元，稀釋後加權平均股數約為 2.52 億股。

For the full fiscal year 2025, we currently expect total revenue to be in the range of $3,890.0 million to $3,902.2 million, reflecting a growth rate of 27% to 28% over the prior fiscal year.

對於 2025 年整個財年，我們目前預計總收入將在 38.90 億美元至 39.022 億美元之間，較上一財年增長 27% 至 28%。

This includes an estimated $60 million impact from the customer commitment package we discussed earlier.

這包括我們之前討論的客戶承諾包帶來的約 6000 萬美元的影響。

Non-GAAP income from operations is expected to be between $774.7 million and $783.9 million.

非 GAAP 營運收入預計在 7.747 億美元至 7.839 億美元之間。

We expect fiscal 2025 non-GAAP net income attributable to CrowdStrike to be between $908.8 million and $918.0 million.

我們預計 2025 財年歸屬於 CrowdStrike 的非 GAAP 淨利將在 9.088 億美元至 9.180 億美元之間。

Utilizing approximately 252 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 $3.61 to $3.65.

利用約 2.52 億股稀釋後的加權平均股，我們預計 CrowdStrike 的非 GAAP 每股淨利潤將在 3.61 美元至 3.65 美元之間。

As George mentioned, Fal.Con 2024 is going to be our biggest customer event yet.

正如 George 所提到的，Fal.Con 2024 將是我們迄今為止最大的客戶活動。

The investor briefing will be held on September 18, and will feature conversations with customers and partners.

投資者簡報會將於 9 月 18 日舉行，屆時將與客戶和合作夥伴進行對話。

To join Falcon in person, please contact our IR team for the registration information.

如需親自加入 Falcon，請聯絡我們的 IR 團隊以取得註冊資訊。

The briefing will also be webcast live on our IR website.

該簡報也將在我們的投資者關係網站上進行網路直播。

We look forward to seeing many of you there.

我們期待在那裡見到你們中的許多人。

George, and I will now take your questions.

喬治，我現在回答你的問題。

Thank you.

謝謝。

(Operator Instructions) Hamza Fodderwala, Morgan Stanley.

（操作員指令）Hamza Fodderwala，摩根士丹利。

Great.

偉大的。

Thank you for taking my question, and congrats on the strong results.

感謝您提出我的問題，並對取得的優異成績表示祝賀。

I wanted to commend you, George, Mike and the entire CrowdStrike team for your response and transparency since the outage event.

我想讚揚你們、George、Mike 以及整個 CrowdStrike 團隊自中斷事件以來的反應和透明度。

So there's been a lot of talk, George, around whether Microsoft or customers perhaps may want to limit kernel access for future updates.

喬治，關於微軟或客戶是否可能希望限制未來更新的核心訪問，已經有很多討論。

I'm curious, in response to this outage, whether or not CrowdStrike will have to rearchitect their approach to the Falcon agent.

我很好奇，為了應對這次中斷，CrowdStrike 是否必須重新建構他們的 Falcon 代理方法。

And if so, would that be a meaningful undertaking that might push you away from the future innovation roadmap?

如果是這樣，這是否是一項有意義的事業，可能會讓您偏離未來的創新路線圖？

Thank you.

謝謝。

Thank you, Hamza.

謝謝你，哈姆札。

Yeah.

是的。

Let me just try to take you through this with a little bit of detail.

讓我嘗試透過一些細節向您介紹這一點。

So despite a lot of the false narratives and misinformation from our competitors, I want to be clear that this was not a kernel update, this was a code update -- it was not a code update, it was a configuration update, and we already covered the remediation in our prior remarks.

因此，儘管我們的競爭對手有很多虛假敘述和錯誤訊息，但我想澄清這不是核心更新，這是程式碼更新——這不是程式碼更新，這是配置更新，而且我們已經在我們之前的評論中介紹了補救措施。

When we think about the architecture of what we've built and rearchitecting it, I've got to set the record straight on that as well.

當我們思考我們所建造的架構並重新建構它時，我也必須澄清這一點。

We have best-in-class architecture and we lead the industry for a reason.

我們擁有一流的架構，並且引領業界是有原因的。

We have greater efficacy, greater manageability, and greater scalability than our competitors, and I just want to give you an example of that.

與競爭對手相比，我們具有更高的效率、更強的可管理性和更大的可擴展性，我只想給您一個例子。

If you look at the latest MITRE results, Falcon had 98% coverage, our next-gen competitor had 79% coverage.

如果您查看最新的 MITRE 結果，Falcon 的覆蓋率達到 98%，我們的下一代競爭對手的覆蓋率達到 79%。

It took Falcon 4 minutes for mean time to detection.

Falcon 的平均檢測時間為 4 分鐘。

It took our competitor 47 minutes.

我們的競爭對手花了 47 分鐘。

And the list goes on and on.

這樣的例子不勝枚舉。

If we think about the architecture as well, we have a very lightweight agent, requires 100 megs of storage, our competitor, has a heavy agent requires 3 gigabytes of storage in the Windows environment.

如果我們也考慮架構，我們有一個非常輕量級的代理，需要 100 兆存儲，而我們的競爭對手有一個重型代理，在 Windows 環境中需要 3 GB 存儲。

So we didn't become number one in the market by having a poor architecture.

因此，我們並沒有因為糟糕的架構而成為市場第一。

We became number one by having a great architecture.

我們憑藉出色的架構成為第一名。

We talked about what we've changed here in terms of our configuration updates and we feel confident about that going forward, and our customers feel confident about that.

我們討論了我們在配置更新方面所做的更改，我們對此充滿信心，我們的客戶也對此充滿信心。

So we'll continue to work with Microsoft as part of the ecosystem as they look to provide further enhancements around kernel access, but just to be clear, there are thousands of software kernel drivers that are out there that go well beyond security, like VPN, virtualization software, IT management software, backup software and a lot more.

因此，我們將繼續與Microsoft 合作，作為生態系統的一部分，因為他們希望提供有關核心存取的進一步增強功能，但需要明確的是，有數以千計的軟體核心驅動程式遠遠超出了安全性，例如VPN 、虛擬化軟體、IT 管理軟體、備份軟體等等。

So we are one part of the ecosystem, and we're certainly a player that's going to help and work with Microsoft as they think about adding other mechanisms to allow the ecosystem to flourish.

因此，我們是生態系統的一部分，當微軟考慮添加其他機制以使生態系統蓬勃發展時，我們肯定會提供幫助並與他們合作。

Brian Essex, JPMorgan.

布萊恩‧艾塞克斯，摩根大通。

Great.

偉大的。

Good afternoon, and thank you for taking the question.

下午好，感謝您提出問題。

Congratulations from me on -- one, a fantastic response to the incident and then two, execution on the back of that is impressive.

我對這事件表示祝賀——一是對這事件做出了出色的反應，二是背後的執行力令人印象深刻。

I guess, George, for me, obviously, you've got peers out there talking about benefiting their pipeline, we still have to see that in their numbers, but from your perspective, we'd love to get some insight into what you're seeing from the pipeline.

我想，喬治，對我來說，顯然，你們已經有同行在談論讓他們的管道受益，我們仍然需要在他們的數字中看到這一點，但從你的角度來看，我們很樂意深入了解你的東西從管道中看到。

Obviously, you've called out the $60 million in deals that kind of pushed into 3Q, but from a competitive perspective, what are you seeing in terms of the number of peers that are invited into the process, maybe a little color around the conversations that you're having at the C level that are leading to some of those extended sales cycles, that would be really helpful to get that insight?

顯然，您已經提到了進入第三季度的 6000 萬美元交易，但從競爭的角度來看，您在受邀參與該流程的同行數量方面看到了什麼，也許對話中有些色彩您在C 級別的職位會導致一些延長的銷售週期，這對獲得這種洞察力真的有幫助嗎？

Sure.

當然。

Obviously, there's a lot of noise in the marketplace and we can only control what we can control, and I think the best way for me to articulate that is to just recount some of the conversations.

顯然，市場上有很多噪音，我們只能控制我們能控制的事情，我認為表達這一點的最佳方法是重述一些對話。

I had two customer calls this morning and most of them start out the same.

今天早上我接到了兩個客戶的電話，大多數都是以同樣的方式開始的。

They talk about our response, how transparent we were, and how we dealt with the problem.

他們談論我們的回應、我們的透明度以及我們如何處理問題。

We talked about some of the mitigating steps that we've taken and it generally ends with we want to do more with CrowdStrike.

我們討論了我們已採取的一些緩解措施，通常最後我們希望利用 CrowdStrike 做更多事情。

I had one this morning, which was a customer that had an impact, we talked through it.

今天早上我有一個客戶，這是一個有影響力的客戶，我們對此進行了討論。

They were satisfied with the controls we put in place, and in fact, on the call, they basically said we won the next-gen SIEM project they had, which we won against another next-gen SIEM competitor.

他們對我們實施的控制措施感到滿意，事實上，在電話會議上，他們基本上說我們贏得了他們擁有的下一代 SIEM 項目，我們擊敗了另一個下一代 SIEM 競爭對手。

So this is what we're seeing.

這就是我們所看到的。

And again, I'm recounting my calls and many, many of them sort of start and end in the same way.

再說一次，我正在講述我的電話，其中很多很多都是以同樣的方式開始和結束的。

So that gives me encouragement again that we've built a lot of trust with our customers over time and we put a lot of trust in the bank.

這再次給了我鼓勵，隨著時間的推移，我們與客戶建立了極大的信任，我們對銀行也充滿了信任。

Yes, we had an issue on July 19.

是的，我們在 7 月 19 日遇到了問題。

We've been very clear about that and very transparent, but consistently, the calls have been, you have saved us way more times than this incident and we are all in on CrowdStrike and we're all in, for all the reasons we've talked about in the past, the consolidation play, the ability to save time, money, get better outcomes, and take four, five, six, and seven products and move them to the Falcon platform.

我們對此非常清楚，也非常透明，但始終如一的呼籲是，你們拯救了我們的次數比這起事件要多得多，我們都參與了CrowdStrike，我們都參與了，出於各種原因，我們「我們過去談到整合遊戲，能夠節省時間、金錢，獲得更好的結果，並將四種、五種、六種和七種產品轉移到 Falcon 平台。

That hasn't changed before the 19 of July and hasn't changed after the 19 of July and this is what customers are coming back to us with Barclays.

這在 7 月 19 日之前沒有改變，在 7 月 19 日之後也沒有改變，這就是為什麼客戶透過巴克萊銀行回到我們這裡的原因。

Saket Kalia, Barclays.

薩基特·卡利亞，巴克萊銀行。

Okay.

好的。

Great.

偉大的。

Can you hear me? -- Hey, George.

你聽得到我嗎？ ——嘿，喬治。

Can you hear me?

你聽得到我嗎？

Yes.

是的。

We can hear you.

我們能聽到你的聲音。

Go ahead.

前進。

Okay.

好的。

Sorry about that.

對此感到抱歉。

Awesome, sorry about that guys.

太棒了，對那些人感到抱歉。

Thanks a ton for taking my question and offer my congrats as well just on the resilience here in the face of a very tough couple of weeks.

非常感謝您提出我的問題，並對您在面對非常艱難的幾週時所表現出的韌性表示祝賀。

George, maybe my question is for you.

喬治，也許我的問題是問你的。

I'd love to just touch on Falcon Flex a little bit.

我想簡單介紹一下 Falcon Flex。

This was something that you were investing in before the outage as well, but it sounds like it's something that can also be helpful for customers to maybe drive better security outcomes as well.

這也是您在停電之前投資的東西，但聽起來這也可以幫助客戶獲得更好的安全結果。

Can you just maybe touch on that and how it's maybe helping that conversation post-outage?

您能否談談這一點以及它如何幫助停電後的對話？

Sure.

當然。

Well, when we think about Falcon Flex, this was born out of demand from our customers.

嗯，當我們想到 Falcon Flex 時，它是出於客戶的需求而誕生的。

If you look at our module attach rates, which we've gone through again many times in the past and they continue to go up as customers rely more and more on CrowdStrike, they came to us and said, hey, we want an easier and more flexible way to consume your Falcon platform.

如果你看看我們的模組附加率，我們過去已經多次經歷過這種情況，並且隨著客戶越來越依賴CrowdStrike，它們會繼續上升，他們來找我們說，嘿，我們想要一個更簡單、更方便的方式。

When you start with one module, when I started the company and you're at 28 today, there is a lot that you have to go through with a customer, and we wanted to meet customers where they wanted us to be, which is more CrowdStrike, make it easier through procurement cycles, and then ultimately allow them to consume it how and when they wanted to consume it.

當你從一個模組開始時，當我創辦公司時，你今天已經 28 歲了，你必須與客戶一起經歷很多事情，我們希望滿足客戶的需求，這更重要CrowdStrike，讓採購週期變得更容易，然後最終允許他們以他們想要的方式和時間使用它。

So we started down this journey a while back and it continues to gain a lot of traction with our customers.

因此，我們不久前就開始了這一旅程，並且它繼續受到我們客戶的廣泛關注。

We've taken this and you heard this in my prepared remarks, and we are able now through our customer commitment package to be able to offer Falcon Flex.

我們已經接受了這一點，您在我準備好的演講中也聽到了這一點，我們現在能夠透過我們的客戶承諾包提供 Falcon Flex。

And again, some of the things that we went through, whether it's modules or time or what have you, we can allow our customers to be able to consume that as part of the customer commitment package.

再說一次，我們經歷的一些事情，無論是模組、時間還是你擁有的東西，我們都可以讓我們的客戶能夠將其作為客戶承諾包的一部分來使用。

And we think overall, it's great for our customers because we're coming to the table and solving business problems.

我們認為總體而言，這對我們的客戶來說很棒，因為我們正在坐下來解決業務問題。

And also, it's great for CrowdStrike long-term because we're allowing them a very flexible model to continue to consume CrowdStrike, which they know and love.

而且，從長遠來看，這對 CrowdStrike 來說非常有利，因為我們為他們提供了一個非常靈活的模型來繼續使用他們了解並喜愛的 CrowdStrike。

Tal Liani, Bank of America.

塔爾·利亞尼，美國銀行。

Here we go.

開始了。

Now you can hear me.

現在你可以聽到我的聲音了。

Last night there was one of your competitors that said that customers would be more afraid now to buy -- to put all the eggs in one basket, meaning buy more modules from a single vendor and they'll opt for diversification of customers -- sorry, vendors.

昨晚，你們的一位競爭對手錶示，客戶現在會更害怕購買——把所有雞蛋放在一個籃子裡，這意味著從單一供應商購買更多模組，他們會選擇客戶多元化——抱歉，供應商。

And for you, at least in previous quarters, I didn't calculate this quarter, but about two-thirds of your growth came from upsell to existing customers, and the question is whether you have any evidence if the event change the appetite of customers to buy from a single vendor -- to buy from you specifically?

而對於你來說，至少在前幾個季度，我沒有計算這個季度，但是你的成長大約三分之二來自於對現有客戶的追加銷售，問題是你是否有任何證據表明該活動是否改變了客戶的胃口從單一供應商購買—專門向您購買？

Have you seen any change of customers willing to buy up -- your ability to upsell to them, the other modules, etc.?

您是否看到願意購買的客戶有任何變化—您向他們追加銷售的能力、其他模組等？

And there is just -- I know it's one question, but there's just one thing that is a follow-up on something, Burt, the full year EPS guidance translates into a very big 4Q EPS, if you can somehow go over it to make sure that we have the right numbers.

只是- 我知道這是一個問題，但只有一件事是某事的後續行動，伯特，全年每股收益指導轉化為非常大的第四季度每股收益，如果你能以某種方式檢查它以使其確保我們有正確的數字。

Thanks.

謝謝。

Okay, Tal.

好吧，塔爾。

Let me take the first part.

讓我來看第一部分。

So when we think about more modules, it gets back to what I just went through, customers want to do more with us.

因此，當我們考慮更多模組時，這又回到了我剛剛經歷過的情況，客戶希望與我們一起做更多事情。

Obviously, we talk about what happened, and it's not going to happen again, but they want to buy more from us.

顯然，我們談論發生的事情，並且不會再發生，但他們想從我們這裡購買更多。

And again, customers' comments back to me are, they don't want to go backwards.

客戶給我的回饋是，他們不想走回頭路。

They don't want a bunch of disparate products.

他們不要一堆不同的產品。

They don't want a bunch of different consoles.

他們不要一堆不同的遊戲機。

And they specifically told me that the adversary lives in the gaps between products, in the seams between products.

他們特別告訴我，對手就存在於產品之間的縫隙、產品之間的接縫。

So what they're looking for is the ability to cover more of their estate, right, to have a complete view.

因此，他們所尋求的是能夠覆蓋更多的財產，對吧，擁有完整的視野。

And when you look at next-gen SIEM, it allows us to take telemetry and logs in from other systems beyond the first-party data that CrowdStrike is generating.

當您查看下一代 SIEM 時，它允許我們從 CrowdStrike 產生的第一方資料之外的其他系統進行遙測和登入。

So I would say, the long and the short of that is customers don't want to go backwards and have a patchwork of products.

所以我想說，總而言之，客戶不想倒退並擁有拼湊的產品。

They are still focused on the consolidation piece and they're looking at us as one of the key consolidators in the market.

他們仍然專注於整合部分，並將我們視為市場上的主要整合者之一。

Yeah.

是的。

So on your question with respect to EPS, as we thought about the impacts to non-GAAP operating income, we talked about the -- some of the headwinds that we had, mostly driven from revenue side of the house, and we tried to be consistent in the way that we approached the guide on both Q3 and full year.

因此，關於您關於每股收益的問題，當我們考慮對非公認會計原則營業收入的影響時，我們討論了我們遇到的一些阻力，主要來自收入方面，我們試圖我們在第三季度和全年處理指南的方式是一致的。

So that's how we thought about it when we gave our guidance.

這就是我們在提供指導時的想法。

Joel Fishbein, Truist.

喬爾·菲什拜因，真理論者。

Thanks for taking my question and also really great transparency, George and Burt.

感謝喬治和伯特提出我的問題，並且非常透明。

Thank you very much.

非常感謝。

My question is on guidance methodology.

我的問題是關於指導方法。

Burt, can you just go through a little bit of how you came up with the guide for the back half of the year considering all the moving pieces?

伯特，你能簡單介紹一下你是如何考慮到所有的變化而想出今年下半年的指南的嗎？

And I guess the question, how it changed relative to how you've done your guidance before, that would be really helpful.

我想這個問題，相對於你之前的指導方式，它是如何改變的，這將非常有幫助。

Thank you.

謝謝。

Sure.

當然。

On the revenue side, the biggest impact comes from the customer commitment package that George walked through.

在收入方面，最大的影響來自喬治經歷的客戶承諾包。

So that's the one that's going to drive the biggest impact.

因此，這將產生最大的影響。

And we walked through the numbers in terms of revenue, the impact, we said $60 million in the back half, $30 million in Q3, and $30 million in Q4.

我們回顧了收入和影響方面的數字，我們說下半年為 6000 萬美元，第三季為 3000 萬美元，第四季為 3000 萬美元。

So that was the biggest driver on revenue.

所以這是收入的最大推動力。

And then obviously that falls down to non-GAAP operating income.

然後顯然這會歸結為非公認會計原則營業收入。

And so we did -- as we thought about it and we thought about how it impacts everything from revenue to EPS, we really took that prudent approach.

所以我們就這麼做了——當我們思考這個問題並思考它如何影響從收入到每股盈餘的一切時，我們確實採取了這種謹慎的方法。

There has been nothing in terms of big changes in terms of how we guide it, we guide to what we see, not to what we don't see.

在我們如何引導它方面沒有什麼大的變化，我們引導我們所看到的，而不是我們沒有看到的。

But again, the biggest impact was the -- how the customer commitment packages impacted both the top and bottom, and they were consistent in how we applied the approach.

但同樣，最大的影響是——客戶承諾包如何影響頂部和底部，並且它們在我們應用該方法的方式上是一致的。

Gabriela Borges with Goldman Sachs.

加布里埃拉·博爾赫斯與高盛。

Hi.

你好。

Good afternoon.

午安.

Thank you.

謝謝。

I would love to get a little bit more detail, George and Burt, on the customer commitment packages.

喬治和伯特，我很想了解更多關於客戶承諾包的細節。

And you mentioned a couple of dynamics there alongside duration and concessions, maybe just a little more on how you came up with that $30 million number in 3Q and 4Q, and what are some of the guardrails and how you think about the appropriate amount of duration or discounting or concessions that you want to give a customer to keep them happy and satisfied with the CrowdStrike platform?

您提到了除了期限和讓步之外的一些動態，也許只是更多地介紹了您如何在第三季度和第四季度得出 3000 萬美元的數字，以及一些護欄是什麼以及您如何看待適當的期限或者您想為客戶提供折扣或優惠，讓他們對CrowdStrike 平台感到滿意和滿意？

Thank you.

謝謝。

Thanks, Gabriela.

謝謝，加布里埃拉。

So in terms of how we came about the $60 million in the back half, we'll just focus on the net new ARR.

因此，就我們如何在下半年獲得 6000 萬美元而言，我們將只專注於淨新 ARR。

We thought about three things, right?

我們考慮了三件事，對嗎？

We thought about, hey, we've got -- we talked about the delay in pipeline generation, so that has an impact.

我們想到了，嘿，我們已經討論了管道生成的延遲，所以這會產生影響。

We talked about longer sales cycles, that's due to increased scrutiny and that's not just for us, but that's for, I think, most people in software and tech.

我們談到了更長的銷售週期，這是由於審查的加強，這不僅適合我們，我認為也適合大多數軟體和技術人員。

And then we talked about the muted upsell value.

然後我們討論了微弱的追加銷售價值。

So we took all those things into consideration when we thought about the impact on the customer commitment packages.

因此，當我們考慮對客戶承諾包的影響時，我們考慮了所有這些因素。

As far as the packages themselves, you're right, we have different pieces within the package.

就包裝本身而言，您是對的，我們包裝內有不同的部分。

George outlaid them pretty well.

喬治把它們佈置得很好。

We talked about some of them being discounts.

我們談到其中一些是折扣。

We talked about some of them being duration.

我們討論了其中一些是持續時間。

Duration has an impact, of course, on net new ARR.

當然，持續時間會對淨新 ARR 產生影響。

But we also talked about product and product will have an impact more on COGS.

但我們也談到了產品和產品將對COGS產生更大的影響。

So that's going to impact the bottom.

所以這將會影響底部。

So we took all those factors together to come up with our guide and that's how we came up with the $60 million.

因此，我們綜合考慮了所有這些因素來製定了我們的指南，這就是我們籌集 6000 萬美元資金的方式。

Rob Owens, Piper Sandler

羅伯歐文斯，派珀桑德勒

Yeah, Burt.

是的，伯特。

I guess as a follow-on to that -- thanks for taking my question here.

我想作為該問題的後續——感謝您在這裡提出我的問題。

The $60 million through the remainder of this year, but you talked about some of the weakness potentially persisting for a year in terms of net-new ARR.

今年剩餘時間的收入為 6000 萬美元，但您談到了淨新 ARR 方面可能持續一年的疲軟狀況。

So I know you're not guiding to the out year, but as we kind of contemplate this, should we think about this more on a 12-month basis?

所以我知道你不是在指導今年的情況，但當我們思考這個問題時，我們是否應該在 12 個月的基礎上更多地考慮這個問題？

And then as the selling of these customer commitment packages starts to anniversary or more normalizing relative to net new ARR growth and relative to maybe where margins were historically?

然後，隨著這些客戶承諾套餐的銷售開始週年紀念日或相對於新的 ARR 淨增長以及相對於歷史利潤率而言更加正常化？

Thanks.

謝謝。

Thanks, Rob.

謝謝，羅布。

So I think that this type of -- this type of incident has a half life, right?

所以我認為這種類型的事件有半衰期，對嗎？

So there'll be a diminishing impact over time, so Q3 will be harder than Q4.

因此，隨著時間的推移，影響會逐漸減弱，因此第三季將比第四季更困難。

Q4 will be harder than Q1, and so on and so forth.

Q4 將比 Q1 更難，依此類推。

I think the biggest piece for us is that when we get to the back half of next year, we'll start to see an acceleration in the business, and that's the big-picture, and that's what I want everybody to walk away from.

我認為對我們來說最重要的是，當我們到明年下半年時，我們將開始看到業務加速成長，這就是大局，這就是我希望每個人都遠離的情況。

Matt Hedberg, RBC

馬特赫德伯格，加拿大皇家銀行

Thanks for taking my questions.

感謝您回答我的問題。

Actually, maybe a little bit of follow-up to Rob's question.

實際上，也許是對羅布的問題的一些後續行動。

I think, Burt, you kind of addressed it, but do you think part of that acceleration is some of these commitments then expanding usage?

我想，伯特，你已經解決了這個問題，但是你認為加速的部分原因是其中一些承諾然後擴大了使用嗎？

In other words, what's a bit of a headwind now is part of that broader commitment that just kind of compounds on itself?

換句話說，現在的一些逆風是更廣泛的承諾的一部分，而這種承諾本身就複合了？

In other words, is that part of that tailwind that we should think about next year?

換句話說，這是我們明年應該考慮的順風車的一部分嗎？

Is this renewal cycle of these commitments?

這是這些承諾的更新周期嗎？

Yeah.

是的。

This is George.

這是喬治。

So when we think about the consumption of Falcon Flex, typically what we've seen is customers consume more of it faster than they originally anticipate because we're providing value.

因此，當我們考慮 Falcon Flex 的消費時，我們通常會看到客戶消費的速度比他們最初預期的要快，因為我​​們提供了價值。

So when we think about to Burt's comments next year, obviously, be more modules in use and I think we have the ability to go back to those customers and understand what other things we can do for them, including looking at additional flex opportunities based upon what they've been using over the last period of time.

因此，當我們考慮明年伯特的評論時，顯然，要使用更多模組，我認為我們有能力回到這些客戶並了解我們可以為他們做哪些其他事情，包括基於基於的額外彈性機會他們在過去一段時間裡一直在使用什麼。

Anything to add to that?

有什麼要補充的嗎？

Yeah.

是的。

No, I think it's -- what George had talked about, it's seeding for the future, and I think that starts to take -- start to take play back half of next year.

不，我認為這是喬治所說的，這是為未來做準備，我認為這將在明年下半年開始恢復。

Fatima Boolani with Citi

法蒂瑪·布拉尼 (Fatima Boolani) 與花旗銀行

Good afternoon.

午安.

Thank you for taking my questions.

感謝您回答我的問題。

I appreciate it.

我很感激。

George, and even Burt, please chime in, so on this procurement vehicle, Falcon Flex, clearly, you've seen a tremendous amount of positive data points, you shared them in the script, $700 million deal value created with just one year in the market.

喬治，甚至伯特，請插話，所以在Falcon Flex 這個採購工具上，顯然，您已經看到了大量積極的數據點，您在腳本中分享了它們，僅僅一年的時間就創造了7 億美元的交易價值市場。

I'm wondering if this is now going to be the predominant go-to-market approach for you all in terms of incentivizing broader portfolio adoption.

我想知道，就激勵更廣泛的投資組合採用而言，這現在是否會成為你們所有人的主要進入市場方法。

And then related to that, Burt, as we think about extrapolating some of the financial implications in the out years beyond your framed guidance, how should we think about renewal cycles and renewal conversations coming up that you could potentially steer towards these contracts such that you do still get an elongated period of maybe net new ARR growth.

然後與此相關的是，伯特，當我們考慮推斷未來幾年超出您框架指導的一些財務影響時，我們應該如何考慮即將到來的續約週期和續約對話，您可能會轉向這些合同，以便您仍然會在很長一段時間內實現新的 ARR 淨成長。

Can you help me sort of straddle those two?

你能幫我跨過這兩者嗎？

Thank you.

謝謝。

Yeah.

是的。

So when we think about Falcon Flex, again, born out of what customers wanted.

因此，當我們再次思考 Falcon Flex 時，它是出於客戶的需求而誕生的。

We've seen tremendous success with it because it opens up the entire product portfolio to our customers.

我們已經看到了巨大的成功，因為它向我們的客戶開放了整個產品組合。

They can pick and choose what modules they want.

他們可以挑選自己想要的模組。

They can leverage it where they want it as they acquire new companies as an example.

例如，當他們收購新公司時，他們可以在他們想要的地方利用它。

It's very easy for them to add new modules or new endpoints or cloud workloads.

他們可以輕鬆添加新模組、新端點或雲端工作負載。

It minimizes procurement cycles.

它最大限度地縮短了採購週期。

So it's a great thing for customers, it's a great thing for us, and it is a prime -- one of the primary mechanisms we're using from a go-to-market motion going forward.

因此，這對客戶來說是一件好事，對我們來說也是一件好事，而且它是我們在未來的上市動議中使用的主要機制之一。

So it is something that we put in place.

所以這是我們制定的。

We've seen the tremendous results from it, and we'll continue to lead with that into our customer base.

我們已經看到了它所帶來的巨大成果，我們將繼續在我們的客戶群中發揮主導作用。

Yeah.

是的。

So all those things are the things that we're looking for.

所以所有這些都是我們正在尋找的東西。

And as I think about the future in terms of our renewal opportunities, the Flex does offer more ability for the customers to consume more, to take on more, and that just bodes well for our renewal cycles, right?

當我考慮未來的更新機會時，Flex 確實為客戶提供了更多的能力來消費更多、承擔更多，這對我們的更新週期來說是個好兆頭，對嗎？

We want them to do that.

我們希望他們這樣做。

And so by seeding them now, that's only going to bode better for us in the future and better for the customers more importantly.

因此，現在就播種它們，這對我們的未來來說只會是更好的兆頭，更重要的是對客戶來說也更好。

I think they're going to benefit more and more as, look, we're going to come up with new products, right, and those are going to be available to them.

我認為他們將從中受益越來越多，因為我們將推出新產品，對吧，這些產品將可供他們使用。

And so that's how we think about the renewals and the new renewal possibilities as we look out into the future.

這就是我們在展望未來時思考更新和新的更新可能性的方式。

Andrew Nowinski, Wells Fargo

安德魯諾溫斯基，富國銀行

Okay.

好的。

Good afternoon.

午安.

Thank you for taking the question.

感謝您提出問題。

And I'm sure every organization that was impacted appreciates the transparency and the contrite response you have today.

我相信每個受影響的組織都會欣賞你們今天的透明度和悔恨的回應。

So I wanted to ask about really on the renewal cycle as well.

所以我也想問一下關於更新周期的問題。

I was wondering if you could just give us any more color around the mix of renewals throughout the year.

我想知道您是否可以為我們提供有關全年續訂組合的更多資訊。

I would imagine Q4 is typically has the most renewals out of all four quarters, but maybe if you could just provide more color on the mix, maybe which quarter do you think there's more risk to a higher mix of renewals in case they don't potentially renew?

我想第四季度通常是所有四個季度中續訂最多的，但也許如果您可以在組合上提供更多色彩，也許您認為哪個季度更高的續訂組合風險更大，以防萬一他們不這樣做可能續訂？

Thank you.

謝謝。

Thanks, Andy.

謝謝，安迪。

So two things.

所以有兩件事。

So one, there is definitely seasonality, right, in our business and we've talked about it, you've highlighted Q4, that's typically our highest quarter of deals.

因此，我們的業務肯定存在季節性，我們已經討論過這一點，您也強調了第四季度，這通常是我們交易量最高的季度。

And I think, second, what I talked about earlier, it's -- this idea of a half-life.

我認為，第二，我之前談到的，是半衰期的想法。

The closer you are to the sun, the hotter it is, the more difficult it is in terms of the headwinds.

離太陽越近，天氣越熱，逆風越困難。

And as you move farther and farther out, you see more relief, so the impact gets less.

當你移得越來越遠時，你會看到更多的緩解，因此影響也越來越小。

So if you combine those two things, that's how we would think about the renewal cycle.

因此，如果將這兩件事結合起來，這就是我們對更新周期的看法。

Roger Boyd, UBS

羅傑博伊德，瑞銀

Great.

偉大的。

Thanks for taking the questions and I will add my congrats on the response and resilience demonstrated over the last month.

感謝您提出問題，我對上個月所表現出的反應和韌性表示祝賀。

George, just on the hypergrowth modules, nice to see that group past $100 billion collectively -- $1 billion collectively.

喬治，就在高速成長模組上，很高興看到該集團總計超過 1000 億美元——總計 10 億美元。

It sounded like the timeline, you reiterated the $10 billion ARR target.

聽起來像是時間表，您重申了 100 億美元的 ARR 目標。

It sounded like the timeline got pushed towards the longer side of the five to seven-year range you provided before.

聽起來時間線被推向了您之前提供的五到七年範圍的較長一側。

I would just love to get kind of your view on the durability of growth there.

我很想聽聽您對那裡成長的持久性的看法。

I get there's a lot of uncertainty, but just kind of any view on how you expect it to play out is the right view that you just see this as kind of a one-year speed bump towards those longer-term guidance?

我知道存在著許多不確定性，但任何關於你期望它如何發揮作用的觀點都是正確的，你只是認為這是朝著長期指導方向邁出的一年的減速帶？

Yeah.

是的。

I'll start and then I'll turn it over to Burt.

我先開始，然後把它交給伯特。

When we think about the durability of CrowdStrike, I think we've demonstrated it this quarter.

當我們考慮 CrowdStrike 的耐用性時，我認為我們本季已經證明了這一點。

We've had a history of durable growth because we're solving real problems for customers.

我們擁有持久成長的歷史，因為我們正在為客戶解決真正的問題。

And when you look at some of the businesses that we talked about, Identity and Cloud and next-gen SIEM, $1 billion is incredible and you look at the growth rate.

當你看看我們談論的一些業務，身分和雲端以及下一代 SIEM 時，10 億美元是令人難以置信的，而且你會看到成長率。

So we've got multiple vectors of growth for CrowdStrike.

因此，我們為 CrowdStrike 提供了多個成長向量。

We've got a massive TAM opportunity that's only getting bigger.

我們擁有巨大的 TAM 機會，而且只會變得越來越大。

And we always at CrowdStrike have and will continue to take a long-term view of the market.

CrowdStrike 一直並將繼續以長遠的眼光看待市場。

So we're going to deal with this in the short-term, and then obviously, I think this sets us up well for the future.

因此，我們將在短期內解決這個問題，顯然，我認為這為我們的未來奠定了良好的基礎。

Burt?

伯特？

Yeah.

是的。

So, Roger, the key here is that we remain committed to reaching the $10 billion in ARR by the end of 2031.

所以，羅傑，這裡的關鍵是我們仍然致力於在 2031 年底之前達到 100 億美元的 ARR。

I mean that's the -- that was part of the range that we gave out in prior periods and we're still committed to it.

我的意思是，這是我們之前給出的範圍的一部分，我們仍然致力於實現這一目標。

Joseph Gallo, Jefferies

約瑟夫·加洛，杰弗里斯

Hey, guys.

嘿，夥計們。

Thanks for the question.

謝謝你的提問。

Can you just update us on the federal momentum?

您能否向我們介紹聯邦勢頭的最新情況？

You're entering their biggest quarter, and how should we think about that business?

您正在進入他們最大的季度，我們應該如何看待該業務？

Does the IT outage slow momentum there given they're typically pretty conservative?

鑑於他們通常相當保守，IT 中斷是否會減緩那裡的勢頭？

Thanks.

謝謝。

Sure.

當然。

Well, Q3 obviously is the federal quarter.

嗯，第三季顯然是聯邦季。

I think we've got good momentum.

我認為我們勢頭良好。

We've done, I think, well with the CISA relationship that we have.

我認為，我們與 CISA 的關係做得很好。

And as many things in the federal space, it takes time and we continue to build momentum and win deals in those categories, and not only federal.

就像聯邦領域的許多事情一樣，這需要時間，我們將繼續累積動力並贏得這些類別的交易，而不僅僅是聯邦。

But we think about state and local, incredibly strong across-the-board, and we're just talking about the US, right?

但我們考慮的是州和地方，在各方面都非常強大，而且我們只是在談論美國，對嗎？

We do this for the rest of the world.

我們為世界其他地區這樣做。

So we like our opportunity there.

所以我們喜歡那裡的機會。

Those are always long-term opportunities, but we're certainly encouraged in terms of the success that we've had so far.

這些始終是長期機會，但我們對迄今為止所取得的成功無疑感到鼓舞。

Gregg Moskowitz, Mizuho.

格雷格·莫斯科維茨，瑞穗。

Okay.

好的。

Thank you for taking the question and also well done in terms of transparency.

感謝您提出問題，並且在透明度方面也做得很好。

I had a clarification just on the customer commitment packages and CrowdStrike's future expansion strategy.

我只是對客戶承諾包和 CrowdStrike 未來的擴張策略進行了澄清。

Is part of the plan effectively giving away modules to existing customers for upwards of a year?

該計劃的一部分是否有效地向現有客戶提供一年以上的模組？

In other words, when you speak about an expectation of muted upsell dollar values and temporarily higher levels of contraction, is this part of the seeding strategy that you're referring to?

換句話說，當您談到對加售美元價值溫和和暫時較高的收縮水平的預期時，這是您所指的播種策略的一部分嗎？

I'll start with -- we always want to do the right thing for the customer, and customers -- we're solving business problems and they like our technology, they love our technology, right?

我首先會說——我們總是想為客戶做正確的事情，而客戶——我們正在解決業務問題，他們喜歡我們的技術，他們喜歡我們的技術，對吧？

So when we think about the opportunity to drive greater platform adoption, certainly that should be added into the conversation.

因此，當我們考慮推動更多平台採用的機會時，當然應該將其添加到對話中。

And what we've seen over time and we've built a history of greater module adoption, you can see that since you've been tracking us from our IPO.

隨著時間的推移，我們所看到的以及我們已經建立了更廣泛採用模組的歷史，您可以看到，自從您從我們的 IPO 以來一直在跟踪我們。

So from that standpoint, we do think the long-term opportunity proves well for CrowdStrike, and having customers use more modules is always a good thing, and that's what we're focused on.

因此，從這個角度來看，我們確實認為 CrowdStrike 的長期機會很好，讓客戶使用更多模組總是一件好事，這就是我們關注的重點。

Thank you.

謝謝。

This concludes today's question-and-answer session.

今天的問答環節到此結束。

I would now like to turn the call back over to George Kurtz for closing remarks.

現在我想將電話轉回給喬治·庫爾茨（George Kurtz）做總結發言。

So thank you all for your time today.

謝謝大家今天抽出時間。

We appreciate your continued support and look forward to seeing you at our upcoming investor event at Falcon.

我們感謝您一如既往的支持，並期待在我們即將在 Falcon 舉行的投資者活動中見到您。

Thank you.

謝謝。