CrowdStrike Holdings Inc (CRWD) 2020 Q4 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to the CrowdStrike Holdings Fourth Quarter and Fiscal Year 2020 Financial Results Conference Call.

女士們、先生們，感謝大家的支持，並歡迎參加 CrowdStrike Holdings 第四季度和 2020 財年財務業績電話會議。

(Operator Instructions) Please be advised that today's conference is being recorded.

（操作員指示）請注意，今天的會議正在錄製中。

(Operator Instructions)

（操作員說明）

I will now hand the conference over to your speaker today, Maria Riley, Investor Relations for CrowdStrike.

我現在將會議交給今天的發言人、CrowdStrike 投資者關係部門的 Maria Riley。

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 and expected performance 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非歷史事實的陳述，包括有關我們未來計劃、目標和預期業績的陳述，屬於《私人證券訴訟改革法》含義內的前瞻性陳述1995 年。

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 have made 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 filings we make with the SEC from time to time, including the section titled Risk Factors in the company's quarterly and annual reports that we file with the SEC.

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，包括我們向 SEC 提交的公司季度和年度報告中標題為「風險因素」的部分。

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

此外，除非另有說明，不包括收入，本次電話會議討論的所有財務指標都將採用非公認會計準則。

A discussion of why we use non-GAAP financial measures and a reconciliation schedule showing GAAP versus non-GAAP results is currently available in our press release, which may be found on the Investor Relations website at ir.crowdstrike.com or on our Form 8-K filed with the SEC today.

目前，我們的新聞稿中討論了我們為何使用非GAAP 財務指標以及顯示GAAP 與非GAAP 結果的對帳時間表，您可以在投資者關係網站ir.crowdstrike.com 或我們的表格8 上找到該新聞稿。

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

現在我將把電話轉給喬治開始。

Thank you, Maria, and thank you all for joining us today.

謝謝瑪麗亞，也謝謝大家今天加入我們。

We hope everyone is staying healthy.

我們希望每個人都保持健康。

Our thoughts are with everyone affected by the coronavirus.

我們與所有受冠狀病毒影響的人同在。

Our top priority is ensuring the health and safety of all our colleagues, customers and partners around the globe.

我們的首要任務是確保全球所有同事、客戶和合作夥伴的健康和安全。

We have implemented necessary safeguards to help protect them, which includes hosting this call remotely.

我們已經實施了必要的保障措施來幫助保護他們，其中包括遠端主持此通話。

We have a lot of ground to cover today, and I will start by summarizing 3 key points: First, the dynamics of the competitive landscape are the best I have seen in my 27-year career.

今天我們要講的內容很多，我首先總結三個要點：第一，競爭格局的動態是我27年職業生涯中見過的最好的。

We believe this is the beginning of a multiyear trend as being driven by the industry consolidation that took place last year, along with the seismic shift to cloud technologies.

我們相信，這是多年趨勢的開始，這一趨勢是由去年發生的行業整合以及向雲端技術的巨大轉變所推動的。

Second, customers and partners are increasingly choosing CrowdStrike as their security cloud platform and partner of choice.

其次，客戶和合作夥伴越來越多地選擇 CrowdStrike 作為他們的安全雲端平台和首選合作夥伴。

As a result, we are landing bigger with more modules and increasing the number of new customers that start with ARR over $1 million.

因此，我們正在透過更多模組實現更大規模，並增加起始 ARR 超過 100 萬美元的新客戶數量。

And third, regardless of the spending environment, cybersecurity is not a discretionary purchase for organizations.

第三，無論支出環境如何，網路安全都不是組織可自由支配的購買行為。

Cybersecurity is mission-critical to both the public and private sector.

網路安全對於公共和私營部門都至關重要。

End point or workload security is also essential to protecting a remote workforce.

端點或工作負載安全對於保護遠端員工也至關重要。

While the impact to the macro economy from the coronavirus is unfolding in real time, we know it is forcing companies to conduct business differently and rapidly shift to a remote workforce.

雖然冠狀病毒對宏觀經濟的影響正在即時顯現，但我們知道它正在迫使企業以不同的方式開展業務並迅速轉向遠端勞動力。

With our cloud-native platform, our lightweight agent that is easily deployed at scale and our frictionless go-to-market engine, CrowdStrike is uniquely positioned to meet their cybersecurity needs.

憑藉我們的雲端原生平台、易於大規模部署的輕量級代理以及無摩擦的上市引擎，CrowdStrike 具有獨特的優勢，可以滿足他們的網路安全需求。

Now let's discuss our results and get into these topics in more detail.

現在讓我們討論我們的結果並更詳細地討論這些主題。

Across the board, we delivered another exceptional quarter at CrowdStrike with record results well exceeding our expectations.

總體而言，我們在 CrowdStrike 上又實現了一個出色的季度，創紀錄的業績遠遠超出了我們的預期。

During the quarter, we added a record $99 million in net new ARR.

本季度，我們的淨新 ARR 增加了創紀錄的 9,900 萬美元。

And year-over-year, we increased the number of net new subscription customers by 116%, achieving 90% subscription revenue growth and 89% total revenue growth, which was above the high end of our guidance.

與去年同期相比，我們的淨新訂閱客戶數量增加了 116%，訂閱收入成長了 90%，總收入成長了 89%，高於我們指導的上限。

The fourth quarter tops off a historic year for CrowdStrike in which we delivered exceptional growth at scale, significantly improved our margins and achieved positive free cash flow for the year.

第四季為 CrowdStrike 歷史性的一年畫上了圓滿的句號，我們實現了規模上的非凡增長，顯著提高了利潤率，並實現了今年的正自由現金流。

We ended the year at $600 million in ARR, up 92% over last year and revenue of $481 million, up 93%, making us one of the fastest-growing SaaS companies at scale.

截至年底，我們的 ARR 為 6 億美元，比去年成長 92%，營收為 4.81 億美元，成長 93%，使我們成為規模成長最快的 SaaS 公司之一。

Subscription revenue grew even faster, up 99% to reach $436 million.

訂閱收入成長更快，成長 99%，達到 4.36 億美元。

We believe our robust results this year speak to our relentless commitment to stopping breaches, our growing leadership in the Security Cloud category and our frictionless go-to-market engine.

我們相信，今年的強勁業績證明了我們對阻止違規行為的不懈承諾、我們在安全雲類別中日益增長的領導地位以及我們順暢的上市引擎。

All of this is made possible by the exceptional execution of the CrowdStrike team.

這一切都得益於 CrowdStrike 團隊的卓越執行力。

We have an amazing company and I would like to personally thank every CrowdStriker for their unwavering dedication to protecting and empowering our customers.

我們擁有一家出色的公司，我個人要感謝每一位 CrowdStriker，感謝他們堅定不移地致力於保護和增強我們的客戶能力。

I couldn't be more pleased with everything we've accomplished together or more excited about our future opportunities.

我對我們共同完成的一切感到無比滿意，對我們未來的機會感到無比興奮。

The seismic shift to cloud-native technologies and cloud workloads, including containers, has created an environment with massive greenfield opportunities.

向雲端原生技術和雲端工作負載（包括容器）的巨大轉變創造了一個擁有大量綠地機會的環境。

While our competitors are distracted trying to integrate acquired technologies, rationalizing their workforce or retooling their on-prem offerings, CrowdStrike's mission, platform and brand are clearly resonating with customers and partners.

雖然我們的競爭對手正忙著整合收購的技術、合理化其勞動力或重組其本地產品，但 CrowdStrike 的使命、平台和品牌顯然引起了客戶和合作夥伴的共鳴。

Furthermore, as Broadcom began integrating Symantec, we saw an increase in inquiries among both customers and partners.

此外，隨著博通開始整合賽門鐵克，我們發現客戶和合作夥伴的詢問增加。

We believe these dynamics have contributed to an expansion in our pipeline and acceleration in our overall customer adoption and increased engagement with our partners.

我們相信，這些動態有助於擴大我們的管道、加速我們的整體客戶採用以及增加與合作夥伴的互動。

More specifically, on the partner front, we have seen significant demand as they look to protect customers who are left searching for better alternatives as Symantec abandons large segments of the market.

更具體地說，在合作夥伴方面，我們看到了巨大的需求，因為他們希望保護因賽門鐵克放棄大部分市場而不得不尋找更好替代方案的客戶。

Several partners in the United States and abroad have launched Symantec replacement campaigns.

美國和國外的一些合作夥伴已經發起了賽門鐵克更換活動。

We are closely collaborating with them to put together robust solutions at compelling price points.

我們正在與他們密切合作，以極具吸引力的價格提供強大的解決方案。

One of our partners submitted a list of several thousand of their customers that will be migrating away from Symantec in the next year, and we found that there was very little overlap between these prospects and our existing customer base.

我們的一個合作夥伴提交了一份包含數千名客戶的名單，這些客戶將在明年從賽門鐵克遷移出去，我們發現這些潛在客戶與我們現有的客戶群之間幾乎沒有重疊。

This year, we more than doubled our customer base and now protect 5,431 customers.

今年，我們的客戶群增加了一倍多，現在保護了 5,431 名客戶。

We added 870 net new customers in Q4, which is up 136% year-over-year.

第四季淨新增客戶 870 名，年增 136%。

This is our eighth consecutive quarter to add a record number of net new customers.

這是我們連續第八個季度新增淨客戶數量創歷史新高。

CIOs and CISOs are looking for a strategic partner to help them bridge the skills gap and simplify their operations while at the same time reducing cost.

資訊長和資訊安全長正在尋找策略合作夥伴來幫助他們縮小技能差距並簡化運營，同時降低成本。

They're also looking for ways to leverage enhanced automation in their security operations to increase efficacy and free up resources.

他們也正在尋找在安全營運中利用增強的自動化來提高效率並釋放資源的方法。

These organizations are increasingly turning to the Falcon platform to protect an array of workloads, stop breaches and restore system performance.

這些組織越來越多地轉向 Falcon 平台來保護一系列工作負載、阻止違規行為並恢復系統效能。

Our platform strategy is gaining momentum.

我們的平台策略正在蓄勢待發。

We hear this from the many conversations we've had with customers, prospects and partners every day, and we see it in our metrics.

我們從每天與客戶、潛在客戶和合作夥伴的許多對話中聽到了這一點，並且在我們的指標中看到了這一點。

Within new enterprise customers, we are landing bigger with more modules.

在新的企業客戶中，我們正在透過更多模組實現更大的目標。

In this quarter, we more than doubled the number of new customers starting out with greater than $1 million of ARR compared to Q4 of last year.

與去年第四季相比，本季我們的新客戶數量增加了一倍以上，年收入超過 100 萬美元。

Additionally, across all new customers, we saw the average number of modules increase in every quarter this past fiscal year.

此外，在所有新客戶中，我們看到上一財年每季的平均模組數量都有所增加。

We also continue to expand module adoption within our existing customer base.

我們也持續在現有客戶群中擴大模組的採用。

This quarter, the percentage of all subscription customers with 4 or more modules once again increased, and those that adopted 5 or more cloud modules grew to 1/3 of our customer base.

本季度，所有擁有4個或更多模組的訂閱客戶的比例再次上升，採用5個或更多雲端模組的客戶成長到我們客戶群的1/3。

As customers adopt more modules that span a wide array of workloads, we believe it strengthens our customer relationship and increases our strategic value with the customer.

隨著客戶採用更多涵蓋各種工作負載的模組，我們相信這會加強我們的客戶關係並提高我們與客戶的策略價值。

Let me share a few customer examples that demonstrate how the power of the Falcon platform translated into strategic customer wins and provided immediate value to the customer.

讓我分享一些客戶範例，展示 Falcon 平台的力量如何轉化為策略性客戶勝利，並為客戶提供直接價值。

The first customer win is with a leading online marketplace, where we displaced an autonomous next-gen antivirus vendor.

第一個贏得客戶的是領先的線上市場，我們取代了一家自主的下一代防毒供應商。

The security team at this company was frustrated by the incumbent's product due to the large volume of false positives, insufficient end point fidelity to triage and remediate alerts and limited functionality across operating systems on top of that lackluster customer support.

該公司的安全團隊對現有產品感到沮喪，因為存在大量誤報、分類和修復警報的端點保真度不足、跨操作系統的功能有限以及客戶支援乏善可陳。

While the lead for this opportunity came from the AWS Marketplace, this organization was initially looking for a platform that encompassed EDR and AV to protect their enterprise workstations and servers in a Phase 1 rollout to their cloud assets.

雖然這個機會的主導者來自 AWS Marketplace，但該組織最初正在尋找一個包含 EDR 和 AV 的平台，以在雲端資產的第一階段部署中保護其企業工作站和伺服器。

In the customers' words, CrowdStrike "crushed" the competitive bake-off against both next-gen and legacy players and won the business.

用客戶的話來說，CrowdStrike「粉碎」了與下一代和傳統參與者的競爭，贏得了業務。

Additionally, this customer quickly realized the value our platform provides by consolidating functions with our intelligent single agent and AI-powered Threat Graph.

此外，該客戶很快意識到我們的平台透過將功能與我們的智慧單一代理和人工智慧驅動的威脅圖相整合而提供的價值。

Expanding this deal beyond the initial RFP of EDR and next-gen AV, this new CrowdStrike customer adopted 6 modules, which included Discover for IT operations and Falcon X for intelligence.

該新 CrowdStrike 客戶將交易擴展到 EDR 和下一代 AV 的初始 RFP 之外，採用了 6 個模組，其中包括用於 IT 營運的 Discover 和用於情報的 Falcon X。

Additionally, we still have the opportunity to expand further into the AWS production environment.

此外，我們還有機會進一步擴展到AWS生產環境。

The next one I will share with you showcases how the Falcon platform helped a Global 2000 manufacturer enhance and streamline its security posture as well as bridge the security resource gap.

我將與您分享的下一篇文章將展示 Falcon 平台如何幫助全球 2000 大製造商增強和簡化其安全狀況並彌補安全資源差距。

This new CrowdStrike customer was previously using an operating system's ATP service and 2 next-gen vendors for EDR and AV.

這個新的 CrowdStrike 客戶之前使用作業系統的 ATP 服務以及 2 個下一代 EDR 和 AV 供應商。

This patchwork of disparate vendors was ineffective and a burden on their resource-constrained security team.

這種由不同供應商拼湊而成的方式效率低下，並且給資源有限的安全團隊帶來了負擔。

Because a large percentage of the customer's environment was not on the latest build of Windows, they could not update to newer versions of their ATP solution.

由於大部分客戶環境不是最新版本的 Windows，因此他們無法更新到 ATP 解決方案的較新版本。

Additionally, the EDR vendor did not provide the user-level visibility on alerts or provide advanced remediation features.

此外，EDR 供應商沒有提供使用者層級的警報可見性或提供進階修復功能。

This resulted in a cumbersome, manual remediation process and often require the security team to reach out to users directly.

這導致了繁瑣的手動修復過程，通常需要安全團隊直接與使用者聯繫。

With 1 year left on the next-gen EDR's vendors contract, this customer kicked off a reevaluation and called in CrowdStrike.

下一代 EDR 的供應商合約還剩 1 年，該客戶開始重新評估並致電 CrowdStrike。

They replaced all 3 end point security solutions with the Falcon platform and adopted 7 modules, providing them with comprehensive protection and visibility in their environment and freeing up internal resources.

他們用 Falcon 平台取代了所有 3 個端點安全解決方案，並採用了 7 個模組，為他們的環境提供了全面的保護和可見性，並釋放了內部資源。

The next customer win I will share with you was also looking to consolidate its legacy end point security stack and gain better protection and visibility across its full environment.

我將與您分享的下一個客戶勝利也是希望整合其遺留端點安全堆疊，並在整個環境中獲得更好的保護和可見性。

This global manufacturer chose to evaluate CrowdStrike because we are viewed as the market leader with a reputation of deploying across large, complex environments quickly.

這家全球製造商選擇評估 CrowdStrike，因為我們被視為市場領導者，並享有在大型複雜環境中快速部署的聲譽。

During the sales process, their existing legacy vendor failed and they fell victim to malicious activity, shutting down production at one of their major international facilities.

在銷售過程中，他們現有的傳統供應商失敗了，他們成為惡意活動的受害者，並關閉了其主要國際工廠之一的生產。

The customer rushed to deploy the CrowdStrike solution to more than 90,000 end points over a weekend and was able to quickly identify and contain the adversary.

該客戶在周末緊急將 CrowdStrike 解決方案部署到 90,000 多個端點，並能夠快速識別並遏制對手。

The ability to deploy this solution quickly saved the customer millions in manufacturing line productivity losses.

快速部署該解決方案的能力為客戶節省了數百萬美元的生產線生產力損失。

Beyond the immediate value provided by remediating the breach, this customer realized additional value by significantly streamlining their security stack.

除了修復漏洞所帶來的直接價值之外，該客戶還透過顯著簡化其安全堆疊實現了額外價值。

With the Falcon platform, they eliminated 7 legacy tools and considerably improved their visibility and security posture.

借助 Falcon 平台，他們消除了 7 個遺留工具，並顯著提高了可見度和安全性。

The final customer win I would like to share with you is Splunk.

我想與您分享的最後一個客戶勝利是 Splunk。

They were using an autonomous next-gen vendor and were frustrated with the fidelity of alerts and the difficulty of ongoing maintenance and upgrades.

他們使用的是自主的下一代供應商，並對警報的保真度以及持續維護和升級的難度感到沮喪。

Splunk kicked off a competitive evaluation of other next-gen solutions, ultimately consolidating on the CrowdStrike platform.

Splunk 啟動了對其他新一代解決方案的競爭性評估，最終在 CrowdStrike 平台上進行了整合。

Splunk chose the Falcon platform for its ease of use, low false positive rate and single agent.

Splunk 選擇 Falcon 平台是因為其易用性、誤報率低和單一代理。

Splunk adopted multiple modules across the platform, including Spotlight, Discover for IT operations as well as Falcon X for integrated threat intelligence.

Splunk 在整個平台上採用了多個模組，包括用於 IT 營運的 Spotlight、Discover 以及用於整合威脅情報的 Falcon X。

To summarize, we are winning with customers across diverse industries, geographies and size because of our proven efficacy in stopping breaches; our cloud-native platform and lightweight single agent that is easily deployed at scale across public, private and hybrid cloud environments; our ability to provide security and visibility across all workloads end to end; the predictive power of our AI-driven Threat Graph that gets smarter the more data it consumes.

總而言之，我們贏得了不同行業、不同地區和不同規模的客戶的青睞，因為我們在阻止違規行為方面的功效已得到證實；我們的雲端原生平台和輕量級單一代理，可以輕鬆跨公有、私有和混合雲環境大規模部署；我們有能力為所有工作負載提供端到端的安全性和可見性；我們的人工智慧驅動的威脅圖的預測能力隨著消耗的數據越多而變得更加智慧。

In real time, our Threat Graph now processes over 3 trillion events per week.

我們的威脅圖現在每週即時處理超過 3 兆個事件。

Each new end point joining our crowdsourced network increases our data moat and long-term competitive advantage.

每個加入我們眾包網路的新端點都會增加我們的資料護城河和長期競爭優勢。

And we enable customers to consolidate agents, increase workload performance and bridge their security skills gap as a force multiplier, all of which helps our customers realize immediate time to value and reduce cost.

我們幫助客戶整合代理、提高工作負載效能並縮小安全技能差距，作為力量倍增器，所有這些都有助於我們的客戶立即實現價值並降低成本。

Before I turn the call over to Burt, I would like to make a few comments on the current environment as it relates to the impact from the coronavirus outbreak.

在將電話轉給伯特之前，我想就當前環境發表一些評論，因為這與冠狀病毒爆發的影響有關。

We have implemented several measures to ensure the safety of the CrowdStrike family, and given we are a company built to thrive with a remote workforce, we do not expect these measures to lead to a disruption in our workflow.

我們已經實施了多項措施來確保 CrowdStrike 系列的安全，並考慮到我們是一家依靠遠距員工而蓬勃發展的公司，我們預計這些措施不會導致我們的工作流程中斷。

On a regular basis, approximately 70% of our employees work remotely.

通常，我們約有 70% 的員工進行遠距工作。

From inception, the company was designed to accommodate a remote workforce that is geographically dispersed and highly nimble.

從一開始，該公司就旨在容納地理上分散且高度靈活的遠端員工。

As it relates to the demand environment, at this point in time, we have not experienced an impact in our ability to close business due to the coronavirus.

由於這與需求環境有關，目前我們尚未因冠狀病毒而對我們關閉業務的能力產生影響。

As many of you on this call would agree, we are in an uncertain macroeconomic environment and the situation is fluid.

正如本次電話會議中的許多人都會同意的那樣，我們正處於一個不確定的宏觀經濟環境中，情況不穩定。

However, there are 4 key facets to our business that we believe are important to investors to remember.

然而，我們認為投資者必須記住我們業務的 4 個關鍵方面。

First, while coronavirus is having an impact on the global economy, it will not stop cyber adversaries.

首先，雖然冠狀病毒正在對全球經濟產生影響，但它不會阻止網路對手。

Cybersecurity has and will remain essential and mission-critical to organizations as it provides business resiliency and meets compliance requirements.

網路安全對於組織而言已經並將繼續至關重要，因為它提供業務彈性並滿足合規性要求。

In times of crisis, adversaries will try to exploit the situation, preying on the public's fear, and escalate new attacks.

在危機時期，對手會試圖利用這一局勢，利用公眾的恐懼，升級新的攻擊。

I know it's difficult to imagine but we've already seen nation-state adversaries and e-criminals launch phishing campaigns using coronavirus as bait.

我知道這很難想像，但我們已經看到民族國家的對手和電子犯罪分子以冠狀病毒為誘餌發起網路釣魚活動。

We allow our customers to stay ahead of these threats whether they are at home, in the office or in the cloud.

我們讓我們的客戶無論是在家中、辦公室或在雲端，都能領先這些威脅。

To further protect and aid the CrowdStrike community, we launched a coronavirus surge relief plan that allows our customers to surge the number of end points for up to 60 days.

為了進一步保護和援助 CrowdStrike 社區，我們推出了一項冠狀病毒激增救助計劃，讓我們的客戶在長達 60 天內增加端點數量。

This will enable existing customers to quickly onboard new remote workers without having to worry about a procurement cycle.

這將使現有客戶能夠快速僱用新的遠距工作人員，而不必擔心採購週期。

Additionally, we launched a Falcon Prevent for Home Use program that allows company administrators to install Falcon Prevent on their employees' home systems.

此外，我們還推出了 Falcon Prevent 家庭使用計劃，允許公司管理員在其員工的家庭系統上安裝 Falcon Prevent。

These free of charge programs have been well received by customers in their time of need.

這些免費程式在客戶有需要時受到了好評。

Second, as organizations move their workforce outside of physical offices, their threat landscape grows exponentially.

其次，隨著組織將員工轉移到實體辦公室之外，他們的威脅情況呈指數級增長。

They need to rapidly provision fleets of new end points, such as laptops and mobile devices, and spin up new cloud workloads while ensuring that every workload everywhere is protected with real-time security even when the user is off-line.

他們需要快速配置大量新端點（例如筆記型電腦和行動裝置），並啟動新的雲端工作負載，同時確保即使在使用者離線時，任何地方的每個工作負載都受到即時安全保護。

To put this in perspective, I will note that one of our large enterprise customers recently rushed to buy 12,000 laptops for newly remote employees and we'll be protecting those with Falcon.

為了正確看待這一點，我要指出的是，我們的一家大型企業客戶最近急於為新遠端員工購買 12,000 台筆記型電腦，我們將使用 Falcon 來保護這些員工。

The security challenges associated with a remote workforce are best solved by a cloud-native security platform.

與遠端員工相關的安全挑戰最好透過雲端原生安全平台來解決。

Because CrowdStrike Falcon platform is cloud-native and does not require physical infrastructure, it allows customers to easily and remotely deploy, manage and protect their workloads at scale irrespective of where their employees are located.

由於 CrowdStrike Falcon 平台是雲端原生的，不需要實體基礎設施，因此客戶可以輕鬆遠端大規模部署、管理和保護其工作負載，無論員工身在何處。

Third, when organizations are pressured to reduce cost, they will look for the security platform that not only provides them with the highest level of protection visibility but one that also consolidates agents, reduces hardware and operating cost and streamlines operations.

第三，當組織面臨降低成本的壓力時，他們會尋找一種安全平台，不僅可以為他們提供最高層級的保護可見性，還可以整合代理、降低硬體和營運成本並簡化營運。

This is exactly how CrowdStrike routinely helps customers save money, with some customers citing a 3x return on their CrowdStrike investment.

這正是 CrowdStrike 一貫幫助客戶省錢的方式，一些客戶稱其 CrowdStrike 投資回報率為 3 倍。

Fourth, with Falcon Complete, our fully managed end point protection offering, we virtualize security operations and protect customers when they do not have the resources or ability to do so.

第四，借助我們完全託管的端點保護產品 Falcon Complete，我們可以虛擬化安全性操作，並在客戶沒有資源或能力時為他們提供保護。

In a time when customer security teams may be short-staffed or working from home, Falcon Complete is a force multiplier for customers as it enables them to significantly increase their security resources and broaden their expertise across all time zones on a 24/7 basis.

在客戶安全團隊可能人手短缺或在家工作的時代，Falcon Complete 對客戶來說是一個力量倍增器，因為它使他們能夠在所有時區24/7 的基礎上顯著增加安全資源並擴大他們的專業知識。

While we are unable to predict what will happen in the macro economy, we believe these elements and the fact that security is mission-critical to organizations give us significant advantages in any environment.

雖然我們無法預測宏觀經濟會發生什麼，但我們相信這些因素以及安全性對於組織至關重要的事實使我們在任何環境下都具有顯著的優勢。

We are aligning our resources to reach customers in light of the current environment, which includes shifting marketing investment more towards our digital channel for the near term.

我們正在根據當前環境調整資源以吸引客戶，其中包括在短期內將行銷投資更多地轉向我們的數位管道。

Additionally, Mike Carpenter, CrowdStrike's President of Global Sales and Field Operations, and I are kicking off a new 100 by 100 international tour, where we will meet with 100 of our customers and prospects in 100 days, all remotely via Zoom.

此外，CrowdStrike 的全球銷售和現場營運總裁 Mike Carpenter 和我正在啟動新的 100 x 100 國際巡演，我們將在 100 天內與 100 名客戶和潛在客戶會面，所有活動均透過 Zoom 遠端進行。

It is our view that during times like this, the best companies continue to innovate, focus on customer success and emerge stronger than ever before.

我們認為，在這樣的時期，最好的公司會繼續創新，專注於客戶的成功，並變得比以往任何時候都更強大。

And when we look past the short term, we believe the powerful combination of our cloud-native platform and frictionless go-to-market engine, which includes trial to pay and in-app trial offerings as well as emerging channels such as AWS Marketplace, position us well as the fundamental end point platform of the future.

當我們展望未來時，我們相信我們的雲端原生平台和無摩擦的上市引擎的強大結合，其中包括試用支付和應用程式內試用產品以及 AWS Marketplace 等新興管道，我們為未來的基本端點平台做好了定位。

We will continue to focus on driving customer success and expanding our lead over the competition.

我們將繼續專注於推動客戶成功並擴大我們在競爭中的領先地位。

With that, I'll turn the call over to Burt.

這樣，我就把電話轉給伯特。

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。

We delivered another outstanding quarter with strength in multiple areas of the business, including records in net new ARR, net new customers and free cash flow.

我們在多個業務領域都表現出色，包括淨新 ARR、淨新客戶和自由現金流均創歷史新高。

In the fourth quarter, we delivered 92% ARR growth year-over-year to reach $600.5 million.

第四季度，我們的 ARR 年增 92%，達到 6.005 億美元。

We added $98.7 million in net new ARR, setting a new record for the fourth consecutive quarter and representing 69% year-over-year growth.

我們的淨新 ARR 增加了 9,870 萬美元，連續第四個季度創下新紀錄，年增 69%。

The growth in ARR was driven by another strong quarter for new local acquisition and expansion business coupled with low contraction in churn within our existing customer base.

ARR 的成長是由於新的本地收購和擴張業務又一個強勁的季度，以及我們現有客戶群的流失率下降所致。

We have been very pleased with the success we have seen with our land-and-expand strategy and with our continued best-in-class gross retention rate of 98% for Q4 and FY '20.

我們對土地擴張策略所取得的成功以及我們在第四季度和 20 財年持續保持一流的 98% 的毛保留率感到非常滿意。

Our dollar-based net retention rate, which is intended to measure expansion in existing customer subscriptions over a 12-month period, exceeded the 120% benchmark we set at the beginning of the year.

我們以美元為基礎的淨保留率旨在衡量 12 個月內現有客戶訂閱的擴張情況，超過了我們年初設定的 120% 基準。

Net retention came in at 124% as of the end of FY '20, which compares to 147% in FY '19 and 119% at the end of FY '18.

截至 20 財年末，淨保留率為 124%，而 19 財年末為 147%，18 財年末為 119%。

For the interim to FY '20 quarters, net retention was 131% in Q3, 133% in Q2 and 142% in Q1.

在 20 財年中期季度中，第三季的淨留存率為 131%，第二季為 133%，第一季為 142%。

As you may recall, in Q4 of FY '19, we had an outsized expansion deal that contributed 11 percentage points to our net retention in that quarter.

您可能還記得，在 19 財年第四季度，我們進行了一項大規模擴張交易，為該季度的淨保留率貢獻了 11 個百分點。

While we once again expanded within this account in Q4 of FY '20, the impact was smaller than the prior year as we have expected.

雖然我們在 20 財年第四季再次擴大了該帳戶的規模，但正如我們預期的那樣，其影響小於前一年。

As George mentioned, we are seeing strong success with our strategy to land bigger with more modules, and we are also seeing an acceleration in new logo business, which further accelerated in Q4 as the dynamics in the competitive landscape shifted in our favor.

正如喬治所提到的，我們透過更多模組實現更大規模的策略取得了巨大成功，而且我們還看到新徽標業務的加速發展，隨著競爭格局的動態向我們有利的方向轉變，新徽標業務在第四季進一步加速。

We view these 2 trends as positive developments and very healthy long-term indicators for our business, but they have a natural trade-off on expansions in the near term.

我們認為這兩種趨勢是我們業務的積極發展和非常健康的長期指標，但它們在短期內的擴張之間存在自然的權衡。

Moving to the P&L.

轉向損益表。

Total revenue grew 89% over Q4 of last year to reach $152.1 million.

總營收比去年第四季成長 89%，達到 1.521 億美元。

Subscription revenue grew 90% over Q4 of last year to reach $138.5 million.

訂閱收入比去年第四季成長 90%，達到 1.385 億美元。

In terms of geographic breakdown, approximately 73% of fourth quarter revenue was derived from customers in the U.S., 14% from Europe, Middle East and Africa markets, 9% from Asia Pacific and 4% from other markets.

從地理分佈來看，第四季約73%的營收來自美國客戶，14%來自歐洲、中東和非洲市場，9%來自亞太地區，4%來自其他市場。

We remain focused on building a long-term business with sustainable growth and compelling margins.

我們仍然專注於建立具有可持續成長和令人矚目的利潤率的長期業務。

In Q4, we continued to recognize operating leverage in our SaaS model and the benefits of scale even as we increased investments in our global reach and cloud platform.

在第四季度，儘管我們增加了對全球影響力和雲端平台的投資，但我們仍然認識到 SaaS 模式的營運槓桿和規模效益。

Fourth quarter non-GAAP gross margin improved to 73% from 67% a year ago.

第四季非 GAAP 毛利率從一年前的 67% 提高至 73%。

Our non-GAAP subscription gross margin increased to 77%, a 700 basis point increase from Q4 of last year.

我們的非 GAAP 訂閱毛利率增至 77%，比去年第四季增加了 700 個基點。

Total non-GAAP operating expenses in the fourth quarter were $118.4 million or 78% of revenue versus $81.8 million last year or 102% of revenue.

第四季非 GAAP 營運支出總額為 1.184 億美元，佔營收的 78%，而去年為 8,180 萬美元，佔營收的 102%。

Scaling our business efficiently is a top priority, which is why we focus on our unit economics, including Magic Number.

有效擴展我們的業務是我們的首要任務，這就是我們專注於單位經濟效益（包括 Magic Number）的原因。

In Q4, we ended with a Magic Number of 1.2, which we consider to be very strong and represents an improvement in our sales and marketing efficiency.

第四季度，我們的神奇數字為 1.2，我們認為這個數字非常強勁，代表了我們銷售和行銷效率的提升。

We reported a non-GAAP operating loss of $6.7 million.

我們報告的非 GAAP 營運虧損為 670 萬美元。

As a result of our rapid top line growth, expanding gross margin profile and continued disciplined approach to investing in our business, we drove strong operating leverage in the quarter.

由於我們的營收快速成長、毛利率不斷擴大以及持續嚴格的業務投資方式，我們在本季推動了強勁的營運槓桿。

Our non-GAAP operating margin improved 31 percentage points year-over-year.

我們的非 GAAP 營業利潤率年增了 31 個百分點。

Q4 represents our fifth consecutive quarter of improving non-GAAP operating loss on both a dollar and a margin basis.

第四季是我們連續第五個季度以美元和利潤率計算的非公認會計原則營業虧損有所改善。

We have a proven history of disciplined investing and remain committed to maintaining a thoughtful balance between generating top line growth and achieving operating leverage.

我們擁有嚴格的投資歷史，並始終致力於在實現營收成長和實現營運槓桿之間保持深思熟慮的平衡。

Non-GAAP net loss in Q4 was $3.9 million or $0.02 on a per share basis, which compares to a non-GAAP net loss of $28.0 million or $0.60 per share in Q4 of last year.

第四季非 GAAP 淨虧損為 390 萬美元，即每股 0.02 美元，而去年第四季非 GAAP 淨虧損為 2,800 萬美元，即每股 0.60 美元。

The weighted average common shares used to calculate fourth quarter EPS was 207.6 million shares in Q4 fiscal 2020 and 46.4 million shares in the Q4 fiscal 2019 period.

用於計算第四季每股收益的加權平均普通股在2020財年第四季為2.076億股，在2019財年第四季為4,640萬股。

Turning now to the balance sheet.

現在轉向資產負債表。

Cash, cash equivalents and marketable securities increased to $912.1 million.

現金、現金等價物和有價證券增加至 9.121 億美元。

Our execution this quarter led to strong cash flow.

我們本季的執行帶來了強勁的現金流。

Cash flow from operations was positive $66.1 million, and free cash flow was positive $50.7 million, reflecting improved operating leverage, growth in deferred revenue and strong collections.

營運現金流為正 6,610 萬美元，自由現金流為正 5,070 萬美元，反映出營運槓桿的改善、遞延收入的成長和強勁的收款。

Before moving to our guidance, I will provide several modeling points: First, as we have previously noted and is typical for enterprise software companies, we expect to see seasonality in net new ARR generation moving from Q4 to Q1.

在轉向我們的指導之前，我將提供幾個建模點：首先，正如我們之前指出的那樣，這對於企業軟體公司來說是典型的，我們預計新ARR 生成的季節性將從第四季度轉移到第一季。

We would also like you to keep in mind that we see operating margin seasonality in the first half of the year given a step-up in payroll taxes, new hires and annual events, including sales kickoff and RSA.

我們也希望您記住，由於薪資稅、新員工和年度活動（包括銷售啟動和 RSA）的增加，我們預計今年上半年的營業利潤率將出現季節性變化。

And as you'd expect, these factors will impact the timing of operating cash and free cash flow, with Q2 experiencing the biggest seasonal impact.

正如您所期望的，這些因素將影響營運現金和自由現金流的時間安排，其中第二季度受到的季節性影響最大。

This year, we expect to see negative operating and free cash flow in the second quarter, and we are maintaining our guidance to be operating cash and free cash flow positive for the full year.

今年，我們預計第二季營運現金流和自由現金流為負值，我們維持全年營運現金流和自由現金流為正值的指引。

We implemented our employee stock purchase plan in July of 2019.

我們於2019年7月實施了員工持股計畫。

As a result, we saw a benefit to free cash flow of approximately $8 million in Q3 of FY '20 and a net decrease of approximately $4 million in Q4 of FY '20 as we made the first purchase.

結果，我們看到 20 財年第三季的自由現金流收益約為 800 萬美元，而當我們進行第一次購買時，20 財年第四季淨減少約 400 萬美元。

Looking into FY '21, we currently expect to accrue between $10 million and $11 million per quarter for this benefit, with the corresponding offset of approximately $20 million reflected in both Q2 and Q4.

展望 21 財年，我們目前預計每季將獲得 1,000 萬至 1,100 萬美元的收益，第二季和第四季相應抵銷約 2,000 萬美元。

In summary, we expect to see benefits from employee contributions in Q1 and Q3 and net outflows for purchases in Q2 and Q4.

總而言之，我們預計第一季和第三季將受惠於員工繳款，第二季和第四季將出現購買淨流出。

Moving to our guidance for the first quarter and full year fiscal 2021.

轉向我們對 2021 財年第一季和全年的指導。

We continue to remain optimistic about the demand for our offerings.

我們對我們產品的需求持續保持樂觀。

We have powerful secular trends fueling our growth, including a growing threat landscape, a favorable competitive dynamic and the proliferation of cloud workloads combined with an increasing remote workforce.

我們有強大的長期趨勢推動我們的成長，包括不斷增長的威脅情況、有利的競爭動態、雲端工作負載的激增以及遠端勞動力的增加。

While the full impact of the macro economy from the coronavirus is still unfolding and we continue to closely monitor the business environment, we believe our guidance is appropriately prudent based on what we know today.

儘管冠狀病毒對宏觀經濟的全面影響仍在顯現，並且我們繼續密切監控商業環境，但我們認為，根據我們目前所知，我們的指導是適當謹慎的。

For Q1.

對於第一季。

Total revenue is expected to be in the range of $164.3 to $167.6 million, reflecting a year-over-year growth rate of 71% to 74%, with subscription revenue being the dominant driver of growth.

總收入預計在 164.3 美元至 1.676 億美元之間，年成長率為 71% 至 74%，其中訂閱收入是成長的主要驅動力。

We expect non-GAAP loss from operations to be in the range of $16.2 million to $13.9 million and non-GAAP net loss to be in the range of $14.0 million to $11.7 million.

我們預計非 GAAP 營運虧損將在 1,620 萬美元至 1,390 萬美元之間，非 GAAP 淨虧損將在 1,400 萬美元至 1,170 萬美元之間。

Utilizing weighted average shares used in computing non-GAAP net loss per share, basic and diluted, of 211.3 million, we expect non-GAAP net loss per share, basic and diluted, in the range of $0.07 to $0.06.

利用用於計算非 GAAP 基本和稀釋每股淨虧損 2.113 億股的加權平均股，我們預計非 GAAP 每股基本和稀釋淨虧損將在 0.07 美元至 0.06 美元之間。

For the full fiscal year 2021.

2021 財年。

We currently expect total revenue to be in the range of $723.3 to $733.5 million, reflecting a growth rate of 50% to 52% over the 2020 fiscal year.

我們目前預計總收入將在 723.3 美元至 7.335 億美元之間，反映出 2020 財年增長率為 50% 至 52%。

Non-GAAP loss from operations is expected to be between $37.1 million and $29.9 million.

非 GAAP 營運虧損預計在 3,710 萬美元至 2,990 萬美元之間。

Additionally, we continue to expect to achieve non-GAAP operating income breakeven in the fourth quarter of fiscal year 2021 while at the same time continuing to aggressively invest in our market opportunity.

此外，我們繼續預計在 2021 財年第四季實現非 GAAP 營業收入損益平衡，同時繼續積極投資於我們的市場機會。

We expect fiscal 2021 non-GAAP net loss to be between $29.3 million and $22.1 million.

我們預計 2021 財年非 GAAP 淨虧損將在 2,930 萬美元至 2,210 萬美元之間。

Utilizing weighted average shares used in computing non-GAAP net loss per share, basic and diluted, of 212.5 million, we expect non-GAAP net loss per share to be in the range of $0.14 to $0.10.

利用用於計算非 GAAP 每股淨虧損（基本虧損和攤薄虧損）的加權平均股數 2.125 億股，我們預計非 GAAP 每股淨虧損將在 0.14 美元至 0.10 美元之間。

We are pleased with the strong results we are reporting today and believe we have the capacity and resources to continue driving the business forward over the long term.

我們對今天報告的強勁業績感到高興，並相信我們有能力和資源繼續推動業務長期發展。

George and I will now take your questions.

喬治和我現在將回答你們的問題。

(Operator Instructions) Our first question is from Sterling Auty with JPMorgan.

（操作員說明）我們的第一個問題來自摩根大通的 Sterling Auty。

So wondering amidst the COVID-19 situation that we're in, you touched upon some of it, but I just want to make sure I put a finer point.

因此，在我們所處的 COVID-19 情況下，您談到了其中的一些內容，但我只是想確保我提出了更好的觀點。

How are the sales processes and even more specifically the implementation process impacted?

銷售流程，更具體地說，實施流程受到怎樣的影響？

And is there any concern -- while maybe CrowdStrike is used to working remote, perhaps your customers are not.

是否有任何擔憂 - 雖然 CrowdStrike 可能習慣於遠端工作，但您的客戶可能不習慣。

So how do you mitigate some of those factors in terms of sales cycles?

那麼，如何在銷售週期方面減輕其中一些因素呢？

Sure.

當然。

Thanks, Sterling.

謝謝，斯特林。

Well, as you mentioned and as we pointed out, we've done a good job for many years working remotely, but we need to make sure that we can get ahold of the customers.

嗯，正如您所提到的和我們指出的，多年來我們的遠距工作做得很好，但我們需要確保我們能夠吸引客戶。

I think there are a couple of things that are working in our favor: Number one, there's lots of folks that are actually home and working remotely.

我認為有幾件事對我們有利：第一，有很多人實際上在家遠距工作。

And I think we've been big fans and users assume that we've been able to move our sales operation to fully remote.

我認為我們一直是忠實的粉絲，用戶認為我們已經能夠將我們的銷售業務轉移到完全遠端。

We've been able to actually increase our first business meetings by 13% just by doing this because people are around in home and we're able to get in front of them.

透過這樣做，我們實際上已經將首次商務會議的次數增加了 13%，因為人們都在家裡，而我們能夠搶在他們的前面。

So from our perspective, whether it's the inside sales team or whether it's the field sales team, I think we've done a good job of reaching out, plus we've combined that with additional advertising, digital trial to pay, and we continue to work the inside sales motion.

因此，從我們的角度來看，無論是內部銷售團隊還是現場銷售團隊，我認為我們在外展方面做得很好，而且我們將其與額外的廣告、數位試用付費相結合，我們將繼續進行內部銷售動議。

So from that standpoint, I think we've been able to fully keep the machine operationalized.

因此，從這個角度來看，我認為我們已經能夠完全保持機器的運作。

And in many cases, where people have been busy during the day, they're sort of at home and we actually have their focus.

在許多情況下，人們白天很忙，但他們就像在家裡一樣，我們實際上有他們的注意力。

So those first business meetings have taken place, and we are leveraging all of the remote technology that we have to get to our customers.

因此，第一次商務會議已經舉行，我們正在利用我們必須向客戶提供的所有遠端技術。

Great.

偉大的。

And then one follow-up for you, Burt.

然後是你的後續行動，伯特。

You mentioned that the guidance is prudent in light of what you've seen, but just again to make sure, would the guidance have actually been higher if COVID-19 had not broken out into this pandemic that we've seen?

您提到，根據您所看到的情況，該指導意見是謹慎的，但再次確定一下，如果 COVID-19 沒有爆發為我們所看到的這場大流行，指導意見實際上會更高嗎？

Sterling, thanks.

斯特林，謝謝。

So just to reiterate, we do believe that we've appropriately derisked our guidance, but as you know, it's a fluid situation.

因此，重申一下，我們確實認為我們已經適當地降低了指導的風險，但如您所知，這是一個不穩定的情況。

We believe our guidance is appropriately prudent based on what we know today, including coronavirus.

我們相信，根據我們今天所了解的情況（包括冠狀病毒），我們的指導是適當謹慎的。

As of today, we haven't seen a change in our ability to close business.

截至今天，我們的關閉業務能力尚未改變。

Our pipeline is at record levels.

我們的管道處於創紀錄的水平。

We've talked to our sales leaders and the theaters and we like where we're at.

我們已經與我們的銷售領導和影院進行了交談，我們喜歡我們現在的處境。

But we want to be prudent in light of the current macro situation, and out of abundance of caution, we derisked our guidance.

但鑑於當前的宏觀形勢，我們希望保持謹慎，出於謹慎的考慮，我們取消了指引的風險。

Our next question is from Saket Kalia with Barclays.

我們的下一個問題來自巴克萊銀行的 Saket Kalia。

George, maybe just to start with you.

喬治，也許只是從你開始。

Definitely hearing the customer displacement opportunities here with competitors like Symantec, for example.

例如，肯定會聽到賽門鐵克等競爭對手帶來的顧客流失機會。

But I guess I want to ask about the competitive opportunity from a different angle and I think you touched it on your prepared remarks.

但我想我想從不同的角度詢問競爭機會，我認為你在準備好的發言中觸及了這個問題。

Is there an opportunity to really grow your share of the channel while others like Symantec are seeing disruption?

當賽門鐵克等其他公司面臨顛覆時，是否有機會真正增加您的通路份額？

So not the customer share but actually customer -- rather share of the actual channel out there.

因此，不是客戶份額，而是實際客戶份額，而是實際管道的份額。

Well, thanks, Saket.

好吧，謝謝，薩凱特。

And absolutely, as I mentioned in the prepared remarks, we are seeing many, many partners come our way particularly from the Symantec channel.

當然，正如我在準備好的演講中提到的那樣，我們看到很多很多合作夥伴來到我們這裡，特別是來自賽門鐵克頻道的合作夥伴。

They realize that in today's environment, their customers are demanding solutions that can easily be deployed frictionless to a remote workforce as well as on-premise or cloud workloads.

他們意識到，在當今的環境中，客戶需要能夠輕鬆無摩擦地部署到遠端員工以及本地或雲端工作負載的解決方案。

And there's a strong demand from the partners.

合作夥伴的需求也很強烈。

There's a lot of inbound from partners looking to move their customer base to us as Symantec and Broadcom abandoned many of the customers that are out there.

隨著賽門鐵克和博通放棄了許多現有客戶，大量合作夥伴希望將客戶群轉移到我們這裡。

So they want to make sure their customers are taken care of.

所以他們希望確保他們的客戶得到照顧。

And obviously, we've continued to evolve and mature our partner program.

顯然，我們不斷發展和成熟我們的合作夥伴計劃。

And whether it's a managed service provider, whether it's a traditional reseller, whether it's any number of partners that we have, they're certainly looking to be with a market leader and someone who can solve their problem.

無論是託管服務提供者，還是傳統經銷商，無論我們擁有多少合作夥伴，他們肯定都希望與市場領導者和能夠解決他們問題的人合作。

And just given today's environment with the remote workforce, it's hard to set up these on-premise systems and accept service and things of that nature remotely.

鑑於當今的遠端員工環境，很難設定這些本地系統並遠端接受服務和此類性質的事物。

So we've definitely seen an uptick in the remote workforce being provisioned and rolled out to organizations who -- their workers are actually at home.

因此，我們確實看到向那些員工實際上在家中的組織提供和推廣的遠距勞動力增加。

And I think we're in a perfect position to do that.

我認為我們處於完美的位置來做到這一點。

Makes sense.

有道理。

Maybe for my follow-up for you, Burt.

也許是為了我對你的後續行動，伯特。

Nice job hitting positive operating cash flow, I think faster and greater magnitude than most of us thought.

不錯，實現了正營運現金流，我認為比我們大多數人想像的更快、更大。

As the business continues to scale, how do you think about cash flow vis-à-vis ARR or revenue?

隨著業務不斷擴大，您如何看待現金流相對於 ARR 或收入？

Are there any sort of rules of thumb that you'd have us think about with respect to either operating cash flow or free cash flow as that recurring revenue base kind of continues to grow?

隨著經常性收入基礎的持續成長，您是否讓我們考慮有關營運現金流或自由現金流的經驗法則？

Saket, first, let me remark just on your comment about hitting positive cash flow faster than most of you thought.

Saket，首先，讓我評論一下您關於實現正現金流的速度比大多數人想像的要快的評論。

I think -- the first thing that I just want to comment on that is the fact that we did have a strong over-performance in the quarter.

我認為，我想評論的第一件事是我們在本季確實表現強勁。

Other things that kind of related to that, we had strong gross margins, we had strong operating leverage, and we also had a strong collections in the quarter.

與此相關的其他事情，我們有強勁的毛利率，我們有強大的營運槓桿，而且我們在本季度也有強勁的產品系列。

So it all contributed to reaching cash flow positive than originally thought.

因此，這一切都有助於實現比最初想像的正現金流。

As it goes to with -- as your comment goes to how do we think about it in the future, I think I want to just reiterate the fact that, hey, we've said to the world that we're going to be free cash flow positive next year.

正如你的評論涉及我們未來如何看待它一樣，我想我想重申一個事實，嘿，我們已經向世界說過，我們將獲得自由明年現金流為正。

On a quarterly basis though, there are going to be some quarters where we have negative cash flow, specifically Q2.

但以季度來看，有些季度我們會出現負現金流，特別是第二季。

So as we think about seasonality, it is in the business from both cash flow as well as ARR.

因此，當我們考慮季節性時，它涉及現金流量和 ARR 方面的業務。

With respect to ARR, Q4 going into Q1, we had commented on the fact that we're going to see a dip which is consistent with what we've seen historically.

關於 ARR，從第四季度到第一季度，我們曾評論過這樣一個事實，即我們將看到下降，這與我們歷史上看到的情況一致。

So as we think about cash flow and as we think about where we're going to end up, right now, we feel that we're in a really good spot with respect to our cash position.

因此，當我們考慮現金流以及我們最終將走向何方時，我們覺得我們的現金狀況目前處於一個非常好的位置。

We've got $912 million on the balance sheet and we have an additional credit facility of $150 million as well.

我們的資產負債表上有 9.12 億美元，還有 1.5 億美元的額外信貸額度。

So combined, we're over $1 billion in available cash.

因此，我們的可用現金總計超過 10 億美元。

So I think we're in a pretty good spot and I think that we've got a good handle on where we see the cash flow going from here, as I've just remarked.

因此，我認為我們處於一個非常好的位置，我認為我們已經很好地掌握了現金流的走向，正如我剛才所說的那樣。

And our next question is from Brad Zelnick with Crédit Suisse.

我們的下一個問題來自瑞士信貸銀行的 Brad Zelnick。

Congratulations on a really nice finish to the year.

恭喜今年取得了非常好的成績。

My question, I know -- I hate to keep piling on to this but as it relates to COVID-19 and the impact of the business.

我知道我的問題——我不想繼續糾纏這個問題，但因為它與 COVID-19 和業務的影響有關。

Specifically, I wanted to ask about small businesses because I mean the headlines are passing all of our screens in real time.

具體來說，我想問有關小型企業的問題，因為我的意思是頭條新聞正在實時通過我們所有的螢幕。

We're seeing certain sectors of the economy just getting the obliterated, whether it be restaurants, airlines, lodging, et cetera.

我們看到某些經濟部門正在被消滅，無論是餐廳、航空公司、住宿等等。

They seem to really be hurting right now.

他們現在似乎真的很受傷。

How does this change your thinking, if at all, about investing down market for growth at this point?

這對您目前關於投資低端市場以實現成長的想法（如果有的話）有何改變？

Well, thank you for your comments.

嗯，謝謝您的評論。

And I don't think it changes our investment at all.

我認為這根本不會改變我們的投資。

We've seen an acceleration in the SMB market, obviously, with a trial to pay and a sales motion that just encourages organizations to come to us and try it out.

顯然，我們已經看到中小企業市場的加速發展，嘗試支付和銷售動議只是鼓勵組織來找我們並嘗試。

We've been very successful.

我們非常成功。

And in fact, we've seen definitely an uptick in smaller businesses coming our way because they just -- they're not prepared for what's happening.

事實上，我們已經看到小型企業的數量明顯增加，因為他們沒有為正在發生的事情做好準備。

Obviously, with COVID-19, it's a serious situation for them.

顯然，新冠肺炎 (COVID-19) 對他們來說面臨嚴峻的情況。

And at the same time, they still need to keep this running.

同時，他們仍然需要保持這個運作。

And I think one of the big drivers that we've seen is ransomware.

我認為我們看到的主要驅動因素之一是勒索軟體。

There are so many small businesses that have been just obliterated by ransomware because they continue to use traditional, signature-based AV.

有許多小型企業因為繼續使用傳統的基於簽名的防毒軟體而被勒索軟體摧毀。

So I think we've been very successful in helping companies migrate away from that and deal with that problem.

所以我認為我們在幫助公司擺脫這種情況並解決這個問題方面非常成功。

At the same time now, they're struggling with just keeping open.

與此同時，他們現在正在努力保持開放。

And I think as a company, we've done a good job in helping organizations see the value and basically provide the outcome they're looking for, keep up and running, not have to worry about security.

我認為作為一家公司，我們在幫助組織看到價值並基本上提供他們正在尋找的結果、保持和運行方面做得很好，而不必擔心安全性。

In many cases, they don't actually have the personnel to deal with it.

在許多情況下，他們實際上沒有人員來處理它。

And with our Falcon Complete, it's been an absolute home run in the SMB and the corporate market because we're able to deal with kind of a human issue for them as a force multiplier.

憑藉我們的 Falcon Complete，它在中小型企業和企業市場中絕對是全壘打，因為我們能夠作為力量倍增器為他們處理某種人為問題。

So we continue to invest there.

所以我們繼續在那裡投資。

I think from a security perspective, it really is a foundational element.

我認為從安全角度來看，它確實是一個基本要素。

They can't do without it, they can't keep their businesses up and running, and we're going to continue to support them in any way we can.

他們離不開它，他們無法保持業務正常運轉，我們將繼續盡我們所能地支持他們。

And maybe one for Burt.

也許還有伯特的一份。

Burt, in your prepared remarks, you talked about seasonality in ARR from Q4 to Q1.

Burt，在您準備好的發言中，您談到了從第四季度到第一季 ARR 的季節性。

Can you maybe put a finer point to that of how we should think about ARR seasonality throughout the year and if at all we might expect COVID at least here in Q1 to be exceptional as we think about what it otherwise would have looked like if we were talking a month ago?

您能否更詳細地說明我們應該如何考慮全年的ARR 季節性，以及我們是否可能預計至少在第一季度的新冠疫情會是例外，因為我們會考慮如果我們不這樣做的話，情況會是什麼樣子一個月前說話？

Sure.

當然。

So as you know, we don't guide to ARR, but we do talk about revenue in the guide.

如您所知，我們不提供 ARR 指南，但我們確實在指南中討論了收入。

We feel that we've appropriately guided for Q1, taking into consideration everything including coronavirus.

我們認為，考慮到包括冠狀病毒在內的所有因素，我們為第一季提供了適當的指導。

I think about the seasonality in ARR being fairly consistent with prior periods.

我認為 ARR 的季節性與之前的時期相當一致。

Again, the dip that we see -- that we're likely to see in Q1 is consistent with what we've seen in prior periods, and then there's an uptick as we go through the year.

同樣，我們在第一季可能看到的下降與我們在之前時期看到的一致，然後隨著一年的推移，會出現上升。

Our next question comes from Joel Fishbein with SunTrust.

我們的下一個問題來自 SunTrust 的 Joel Fishbein。

Congrats again on a great quarter.

再次恭喜這個季度的出色表現。

I have a quick question on fed.

我有一個關於美聯儲的快速問題。

Just in this environment, I know it might be a little premature, but the fed ramp and how the fed is adopting.

就在這種環境下，我知道這可能有點為時過早，但聯準會的升息以及聯準會是如何採取的。

I'd expect -- I would love to hear George.

我希望──我很想聽聽喬治的聲音。

How that's going?

怎麼樣？

You didn't really call it out.

你真的沒有叫出來。

And then I have a follow-up quickly for Burt.

然後我很快就會對伯特進行跟進。

Sure.

當然。

It's going really well.

一切進展順利。

Fed is part of our overall state, local and fed operation.

聯準會是我們整個州、地方和聯準會運作的一部分。

And in general, just the fed piece is up over 200% year-over-year.

總體而言，僅美聯儲的部分就同比增長超過 200%。

Customer acquisition is up.

客戶獲取量上升。

And when you look at the concern in the federal government, you look at the various hacks that have been out there, the fed government is increasingly calling on CrowdStrike to seek guidance and understand the threat level and certainly adopting our technology to help protect against those many persistent threats that are out there.

當你看到聯邦政府的擔憂時，你會看到已經存在的各種駭客攻擊，聯邦政府越來越多地呼籲 CrowdStrike 尋求指導並了解威脅級別，當然也會採用我們的技術來幫助防範這些攻擊存在許多持續存在的威脅。

So it's still a relatively small business for us as we just got the FedRAMP certification a while back, I guess a short time ago, over the last 18 months or so.

因此，這對我們來說仍然是一項相對較小的業務，因為我們不久前才剛獲得 FedRAMP 認證，我想是不久前，在過去 18 個月左右的時間裡。

And we continue to grow that.

我們將繼續發展這一點。

So that's a great market for us.

所以這對我們來說是一個巨大的市場。

And then as you expand that out into state, local, we've got many states that are CrowdStrike customers.

然後，當您將其擴展到州、地方時，我們有許多州都是 CrowdStrike 的客戶。

They continue to adopt us.

他們繼續收養我們。

Again, ransomware is a big issue for some of these small municipalities or even some of the larger state governments, and CrowdStrike has been a real critical part of their overall operation.

同樣，對於一些小城市甚至一些較大的州政府來說，勒索軟體是一個大問題，而 CrowdStrike 一直是他們整體運作中真正關鍵的一部分。

And Burt, real quick follow-up for you.

伯特，非常快速地為您跟進。

The message has been, look, you guys are growing very, very fast.

傳達的訊息是，看，你們成長得非常非常快。

You're gaining big customers at a very fast clip.

您正在以非常快的速度贏得大客戶。

I think that one concern out there is for companies that aren't cash flow positive, and you've actually shown cash flow positive this quarter that in the event that things do go south.

我認為，人們擔心的一個問題是現金流不為正的公司，而本季實際上已經顯示出金流為正，以防情況確實惡化。

Maybe you just talk about what levers you can pull, if necessary, to make yourselves more profitable if things did go south.

也許你只是談論如果事情確實惡化的話，如果有必要的話，你可以採取哪些手段來使自己獲得更多利潤。

So give investors a little bit of confidence there.

所以給投資人一點信心。

Yes.

是的。

Thanks, Joel.

謝謝，喬爾。

Yes.

是的。

So as a reminder, we've been free cash flow positive for the last 2 quarters.

提醒一下，過去兩季我們的自由現金流一直為正。

And similarly what I said on an earlier question is that we have a really strong balance sheet at the moment, right?

同樣，我在之前的問題上說過，我們目前的資產負債表非常強勁，對嗎？

$912 million on the balance sheet in cash, cash equivalents, and we've got an additional credit facility of $150 million.

資產負債表上有 9.12 億美元的現金、現金等價物，我們還有 1.5 億美元的額外信貸額度。

We see this -- even if things go south, we'll continue to go south from a macro perspective.

我們看到這一點——即使事情向南發展，從宏觀角度來看，我們仍將繼續向南發展。

We still believe that we've got great unit economics.

我們仍然相信我們擁有出色的單位經濟效益。

We've got the business very dialed in.

我們的業務已經非常順利。

We've got opportunities to continue to go after an environment that's opened up to us with respect to our competitors.

我們有機會繼續追求一個對我們的競爭對手開放的環境。

So we're in a really good spot in terms of being able to withstand any continued downturn in the environment.

因此，我們在抵禦環境持續低迷方面處於非常有利的位置。

And the good news for us is that we've seen several consecutive quarters of improving leverage.

對我們來說，好消息是槓桿率連續幾季有所改善。

So we're not going to stray from looking at our unit economics as we continue to invest even when there is a continued downturn in the macroeconomic environment.

因此，即使宏觀經濟環境持續低迷，我們也不會偏離我們的單位經濟效益，因為我們會繼續投資。

Our next question is from Alex Henderson with Needham.

我們的下一個問題來自 Alex Henderson 和 Needham。

Just a quick bookkeeping.

只是快速記帳。

If you guys were profitable, what would your share count be for valuation purposes?

如果你們獲利了，出於估值目的，你們的股票數量是多少？

The question I wanted to ask really was around the pricing side of things or the demand side of things.

我想問的問題其實是圍繞著定價方面或需求方面。

To what extent have you seen any of your customers implement broad spending freezes?

您在多大程度上看到您的客戶實施了廣泛的支出凍結？

And to what extent are you seeing your product line and your -- and security in particular against that backdrop be exempt from that spending freeze?

您認為您的產品線和安全性（特別是在這種背景下）在多大程度上可以免受支出凍結的影響？

If you could help us out understanding that differential between the actions broadly that the companies are taking versus what they're taking relative to security, that would be really helpful.

如果您能幫助我們了解公司正在採取的廣泛行動與他們在安全方面採取的行動之間的區別，那將非常有幫助。

And then one other question while I was added, just going back for Burt.

然後我又被增加了另一個問題，回到伯特。

The decision to continue to invest, I assume you're still adding salespeople at a pretty aggressive rate.

繼續投資的決定，我認為您仍在以相當積極的速度增加銷售人員。

I assume that they become more available in this environment.

我認為他們在這種環境下會變得更加可用。

Can you give us any sense of the rate of staffing up in the sales and marketing side of things?

您能否向我們介紹一下銷售和行銷方面的人員配備率？

Thanks, Alex.

謝謝，亞歷克斯。

First, I'll comment on your question about shares.

首先，我就你關於股票的問題發表評論。

So basically, for valuation purposes, I would use 233 million shares.

所以基本上，出於估值目的，我會使用 2.33 億股。

With respect to the sales heads, we're continuing to invest for sure.

關於銷售主管，我們肯定會繼續投資。

Yes, in this environment, there are going to be more that's going to be available in the group that we look at to hire from.

是的，在這種環境下，我們希望招募的團隊中將會有更多的人才可供選擇。

So we're going to obviously take advantage of that and take advantage of the current landscape.

因此，我們顯然將利用這一點並利用當前的情況。

But having said all that, again, I want to go back to the point that I've been making all along, which is we're going to be investing prudently.

但話雖如此，我想再次回到我一直以來提出的觀點，那就是我們將謹慎投資。

We're going to continue our strong unit economics.

我們將繼續保持強勁的單位經濟效益。

We're not going to do anything that's unnatural.

我們不會做任何不自然的事。

And so I think that with the model in place, the competitive landscape, I think we're in a good spot to continue to go after sales heads.

因此，我認為，隨著模型的到位和競爭格局的形成，我認為我們處於繼續追隨銷售主管的有利位置。

With that, I'll turn it over to George.

有了這個，我會把它交給喬治。

Okay.

好的。

Great.

偉大的。

Well, thanks, Alex.

嗯，謝謝，亞歷克斯。

And I think when we look at security in general, we have to put it in perspective.

我認為，當我們總體上看待安全時，我們必須正確看待它。

It is mission-critical.

這是關鍵任務。

And in the corporate hierarchy of needs, cybersecurity is the equivalent of shelter.

在企業的需求層次中，網路安全相當於庇護所。

It's fundamental.

這是根本性的。

It's a basic need and you can't live without it.

這是基本需求，沒有它你就無法生存。

And obviously, there's going to be industries that are more impacted than others.

顯然，有些行業比其他行業受到的影響更大。

But at the end of the day, they're going to need security.

但歸根究底，他們還是需要安全。

It's a compliance mandate for many, many large companies, even not large companies, right, from a data privacy perspective, whether it's a state or federal government or any other government around the globe.

從資料隱私的角度來看，無論是州政府、聯邦政府或全球任何其他政府，對於許多大公司（甚至不是大公司）來說，這是一項合規性要求。

And they're going to still need to be able to purchase that.

他們仍然需要能夠購買它。

I think, again, when they come to CrowdStrike, a big part of what we do is we help them consolidate what they have.

我再次認為，當他們來到 CrowdStrike 時，我們所做的工作有很大一部分是幫助他們鞏固他們所擁有的東西。

We can show them that 3x or better return on their investment.

我們可以向他們展示 3 倍或更好的投資回報。

And in today's environment, obviously, where there's going to be tremendous cost pressure on these companies, I think we're the perfect solution to help optimize their head count, help optimize their spend on hardware and software and security and people and putting all that together.

顯然，在當今的環境下，這些公司將面臨巨大的成本壓力，我認為我們是幫助優化他們的員工數量、幫助優化他們在硬體、軟體、安全和人員方面的支出的完美解決方案，並將所有這些一起。

It's a very compelling offering that we have for them in a time of need.

這是我們在他們有需要時為他們提供的非常有吸引力的產品。

Our next question comes from Gur Talpaz with Stifel.

我們的下一個問題來自 Gur Talpaz 和 Stifel。

First off, congrats on a really strong quarter here.

首先，恭喜本季的強勁表現。

George, you alluded to a shift in demand here for Falcon Complete.

喬治，你提到了 Falcon Complete 的需求變化。

I think in the face of all that's happened over the past few weeks, how do you think about the nature of the conversation around Complete today especially within the large enterprise?

我認為，面對過去幾週發生的所有事情，您如何看待今天圍繞 Complete 的對話的性質，尤其是在大型企業內部？

Well, it's amazing because when we originally -- so first, thank you, Gur.

嗯，這太神奇了，因為當我們最初——所以首先，謝謝你，古爾。

Thanks for your question.

謝謝你的提問。

When we think about Falcon Complete and we originally constructed it for organizations that might have been in the corporate space, a reasonably sized organization but not enterprise or even SMB, we had no idea the adoption would be so broad in the enterprise space.

當我們考慮 Falcon Complete 時，我們最初是為企業領域的組織建構它的，一個規模合理的組織，但不是企業甚至中小企業，我們不知道它在企業領域的採用會如此廣泛。

And we have many, many large enterprise customers that use us because the offering is so compelling, to be able to kind of take that Tier 1 triage off their hands, to be able to remediate any issues that come up with automation, to be able to offer a warranty on what we're doing.

我們有很多很多大型企業客戶使用我們，因為我們的產品非常引人注目，能夠擺脫一級分類，能夠修復自動化帶來的任何問題，能夠為我們正在做的事情提供保證。

And the technology is very, very compelling and in -- I don't care whether you're an enterprise or whether you're in corporate or SMB.

這項技術非常非常引人注目，而且無論您是企業還是企業或中小型企業，我都不在乎。

Everyone is looking to increase their overall efficiency in their operations and reduce cost.

每個人都希望提高營運的整體效率並降低成本。

And when you look at the return of a Falcon Complete, they could never do what we do 24/7 with the expertise we have around the globe for anything close to what we're charging them.

當你看到 Falcon Complete 的回歸時，你會發現他們永遠無法以我們在全球擁有的專業知識來完成我們 24/7 所做的事情，以接近我們向他們收取的費用。

So it really is a force multiplier for them and it really has been adopted widely, whether it's a small SMB all the way to very large enterprises.

因此，這對他們來說確實是一個力量倍增器，並且確實已被廣泛採用，無論是小型中小企業還是大型企業。

That's very helpful.

這非常有幫助。

And then, Burt, maybe one for you.

然後，伯特，也許有一個適合你。

Non-GAAP gross margins here continue to rise, I think, despite really nice growth in customers and cloud transaction volumes.

我認為，儘管客戶和雲端交易量成長確實不錯，但非公認會計準則毛利率仍在持續上升。

Can you just walk us through the inputs again here as to why that's the case?

您能在這裡再次引導我們了解為什麼會出現這種情況嗎？

And then I think more importantly, have you seen an increase in gross margin at land now given the rise in sort of -- in size of customer as you see them at land?

然後我認為更重要的是，鑑於您在陸上看到的客戶規模的增加，您現在是否看到陸上毛利率增加？

Thanks, Gur, and thanks for your questions.

謝謝，古爾，也謝謝你的提問。

So with respect to gross margins, I mean it continues to be the same story with respect to improvements on the operational side, efficiencies in using both private and public clouds.

因此，就毛利率而言，我的意思是，在營運方面的改進以及使用私有雲和公有雲的效率方面，情況仍然如此。

Two, it's the modular expansion.

二是模組化擴充。

As we add new modules after the first module is sold to a customer, virtually every other module after that is pure gross margin.

當我們在第一個模組出售給客戶後添加新模組時，實際上此後的所有其他模組都是純毛利率。

Those are some of the key drivers, and they've been consistent throughout the last few years in terms of seeing why our gross margin has expanded.

這些是一些關鍵驅動因素，在過去幾年中，它們在我們毛利率擴大的原因方面一直保持一致。

In terms of the gross margin and how we think about it going forward, I think right now, we're in the middle of our long-term non-GAAP gross margin projections.

就毛利率以及我們如何看待未來而言，我認為目前我們正處於長期非公認會計原則毛利率預測的中間。

And I anticipate that we're going to stay within that band.

我預計我們將保持在這個範圍內。

And in the long term, we see us going over that 80-plus percent from the standpoint of a non-GAAP gross margin basis.

從長遠來看，從非 GAAP 毛利率的角度來看，我們將超過 80% 以上。

So we're going to continue to do those things that we've done doing well on the optimization side.

因此，我們將繼續做那些我們在最佳化方面做得很好的事情。

We're going to continue to bring in new modules into our platform.

我們將繼續將新模組引入我們的平台。

Those 2 things combined will lead us to where we want to go.

這兩件事結合起來將引導我們到達我們想去的地方。

Our next question is from Andrew Nowinski with D.A. Davidson.

我們的下一個問題來自安德魯·諾溫斯基 (Andrew Nowinski) 和 D.A.戴維森。

Great.

偉大的。

Congrats on a great quarter.

恭喜您度過了一個出色的季度。

Just 2 questions from me.

我只有兩個問題。

So it's great to hear that you're offering programs to help customers work from home.

因此，很高興聽到您正在提供幫助客戶在家工作的計劃。

And what we're hearing from resellers and CIOs is that companies that are not cloud-centric yet that are still running these legacy hub-and-spoke architectures are quickly realizing how inadequately prepared they are.

我們從經銷商和資訊長那裡聽到的是，那些不以雲端為中心但仍在運行這些傳統的中心輻射型架構的公司很快就意識到他們的準備有多麼不充分。

So when people start returning to the office, which is hopefully soon, do you think that could trigger an uptick in spending from these companies as they work toward transforming their infrastructure?

因此，當人們開始返回辦公室時（希望很快），您認為這是否會導致這些公司在努力改造基礎設施時增加支出？

Well, thanks, Andy.

嗯，謝謝，安迪。

And the answer is yes.

答案是肯定的。

I think if you look at what is taking place, which I think many of us would agree we've never seen in our life, hopefully we won't see it again, but it's definitely going to transform the way people do business.

我想如果你看看正在發生的事情，我想我們很多人都會同意我們一生中從未見過這種情況，希望我們不會再看到它，但這肯定會改變人們做生意的方式。

And everyone implemented emergency plans.

每個人都實施了應急計劃。

Everyone implemented emergency spending.

大家都實施了緊急支出。

And if you're working from home on Zoom, you still need to be protected, right?

如果您透過 Zoom 在家工作，您仍然需要受到保護，對吧？

So I think what they figured out very quickly is kind of pushing update, signature files through VPNs or overloading things, just that whole management doesn't work.

所以我認為他們很快就發現了一種透過 VPN 推送更新、簽名文件或超載的方式，只是整個管理不起作用。

And I think by leveraging something like CrowdStrike to see how easy it is, it's seamless, it doesn't even have to go through their own network in terms of what we do and how we communicate with those end points, I think their eyes are wide open.

我認為，透過利用像CrowdStrike 這樣的東西來看看它是多麼容易，它是無縫的，甚至不需要透過他們自己的網路來了解我們的工作以及我們如何與這些端點進行通信，我認為他們的眼睛是敞開。

So not only do I believe we'll see an uptick in the remote workforce.

因此，我不僅相信我們會看到遠距勞動力的增加。

And this is going to be part of people's resiliency plan.

這將成為人們的彈性計劃的一部分。

It's not going to go away.

它不會消失。

So we're going to see that.

所以我們將會看到這一點。

We see CIOs going in for emergency spending and relief, and they have to solve this problem immediately.

我們看到資訊長們正在尋求緊急支出和救濟，他們必須立即解決這個問題。

But then they're going to look at their overall business resiliency, their overall architecture and they realize that just trying to jam everything through VPN back to the mother ship is not going to work.

但隨後他們會審視整體業務彈性、整體架構，並意識到僅僅試圖透過 VPN 將所有內容堵塞回母艦是行不通的。

You'll see more and more of zero trust, which we're a perfect fit in that overall architecture.

您將看到越來越多的零信任，我們非常適合整個架構。

And I do think it's going to fundamentally change the way people work and consume technologies, including security technology.

我確實認為這將從根本上改變人們工作和使用技術（包括安全技術）的方式。

Great.

偉大的。

And then in that same vein, as more companies are forced to adapt to this remote workforce, I was wondering if you've seen an uptick via the AWS channel as companies look to push more infrastructure to Amazon versus trying to maintain an on-premise infrastructure.

同樣，隨著越來越多的公司被迫適應這種遠端勞動力，我想知道您是否看到了 AWS 管道的成長，因為公司希望將更多基礎設施推向亞馬遜，而不是試圖維護本地部署基礎設施。

The answer is yes.

答案是肯定的。

We've got a great partnership with AWS.

我們與 AWS 建立了良好的合作關係。

It cuts the sales cycle down, when we use the AWS Marketplace, by almost 50%.

當我們使用 AWS Marketplace 時，它可以將銷售週期縮短近 50%。

And just a quick stat, from an ARR perspective, just in Q1, we're up 32% quarter-over-quarter with our AWS Marketplace deal.

快速統計一下，從 ARR 的角度來看，光是第一季度，我們的 AWS Marketplace 交易就較上季成長了 32%。

So it's been an amazing channel for us.

所以這對我們來說是一個了不起的管道。

And at the end of the day, I think people, as they're remote, procurement is not around.

歸根結底，我認為人們由於地處偏遠，因此無法進行採購。

It's a great channel for them.

這對他們來說是一個很好的管道。

The terms are pretty much negotiated.

條款幾乎是經過協商的。

You can get a deal done very quickly, and it slots right into their overall environment.

您可以非常快速地完成交易，並且它可以很好地融入他們的整體環境。

And by the way, they can buy it and still use it on their on-prem environment.

順便說一句，他們可以購買它並仍然在其本地環境中使用它。

It doesn't have to be used just in the AWS cloud.

它不必只在 AWS 雲端中使用。

So it's been really a great channel for us.

所以這對我們來說確實是一個很棒的管道。

(Operator Instructions) Our next question is from Matt Hedberg with RBC Capital.

（操作員說明）我們的下一個問題來自 RBC Capital 的 Matt Hedberg。

Congrats on the results.

祝賀結果。

George, you highlighted a number of reasons why CrowdStrike can do well in times of uncertainty.

George，您強調了 CrowdStrike 在不確定時期能夠表現出色的多個原因。

I think it's really helpful for us to consider.

我認為這對我們考慮確實有幫助。

One of them is your ability to not only keep customers safe but also save them money.

其中之一是您不僅能夠確保客戶安全，還能為他們節省金錢。

And I guess on that point, can you give us a glimpse into what CIOs or CISOs are saying right now about their security spend?

我想在這一點上，您能否讓我們了解一下 CIO 或 CISO 目前對他們的安全支出有何看法？

And if additional mind share comes your way from share shift, beyond Prevent or Insight, what are you sort of most excited about from like a new product attach perspective?

如果除了預防或洞察之外，除了預防或洞察之外，更多的思想分享來自於分享轉變，那麼從新產品附加的角度來看，你最興奮的是什麼？

Sure.

當然。

Well, CIOs and CISOs, but in particular CIOs, are looking for anything that will consolidate their footprint and reduce cost and complexity.

嗯，首席資訊長和首席資訊安全官，尤其是首席資訊官，正在尋找能夠鞏固其足跡並降低成本和複雜性的任何東西。

And we slot absolutely right into that.

我們完全符合這一點。

I can tell you from when we started the company to where the conversation was, it wasn't at the CIO level to where we are today as a true platform.

我可以告訴你，從我們創辦公司時到對話的地方，它不是在 CIO 級別，而是我們今天作為一個真正的平台。

Almost every large deal involves the CIO.

幾乎每筆大交易都涉及首席資訊長。

So they are looking for this.

所以他們正在尋找這個。

And as you pointed out, beyond just the next-gen AV and EDR piece, we have things like Discover with real-time response.

正如您所指出的，除了下一代 AV 和 EDR 之外，我們還有諸如 Discover 之類的即時回應功能。

We've added a tremendous amount of automation.

我們增加了大量的自動化功能。

At RSA, you might have been there, we showed how we can deploy emergency patches.

在 RSA，您可能已經去過那裡，我們展示瞭如何部署緊急修補程式。

We can basically pull data, bring the system back to health.

我們基本上可以提取數據，使系統恢復健康。

And increasingly, we're seeing the IT ops team leveraging the CrowdStrike technology, which is always great because you want the IT team to be excited about security technologies.

我們越來越常看到 IT 營運團隊利用 CrowdStrike 技術，這總是很棒，因為您希望 IT 團隊對安全技術感到興奮。

They get what they need.

他們得到了他們需要的東西。

The security team gets what they want.

安全團隊得到了他們想要的。

And overall, we're solving and we're selling an outcome which is basically keeping customers from being breached but at the same time, giving them the consolidation and efficiency they need and saving money.

總的來說，我們正在解決並出售的結果基本上可以防止客戶受到破壞，但同時為他們提供所需的整合和效率並節省金錢。

So when you wrap that all together, that's an incredibly compelling offering.

因此，當您將所有這些整合在一起時，您會發現這是一個非常引人注目的產品。

And in some of the earnings calls, this one and some of the prior ones, I've talked about the consolidation, 5, 6, 7, different technologies we've been able to consolidate out.

在一些財報電話會議中，這次和之前的一些電話會議，我談到了整合，我們已經能夠整合 5、6、7 種不同的技術。

Things like Spotlight, we have new release come out at the end of Q4, broader coverage, and we've seen the adoption pick up very rapidly in that module and customers are really liking it.

像 Spotlight 這樣的東西，我們在第四季度末發布了新版本，覆蓋範圍更廣，我們看到該模組的採用速度非常快，客戶非常喜歡它。

So whether it's that, Falcon X, across the board, I mean we have strong module adoption.

因此，無論是不是這樣，Falcon X，全面而言，我的意思是我們的模組採用率很高。

I continue to come back to Discover and Spotlight though.

不過，我還是會繼續關注 Discover 和 Spotlight。

These are real 2 gems that the IT team can leverage.

這是 IT 團隊可以利用的真正的 2 個寶石。

Tell me what to patch, here you go, and help me automate my systems with Discover.

告訴我要修補哪些內容，就這樣，並幫助我使用 Discover 來實現系統自動化。

It's a great one-two combination.

這是一個很棒的一二組合。

Our next question comes from Rob Owens with Piper Sandler.

我們的下一個問題來自 Rob Owens 和 Piper Sandler。

Great.

偉大的。

I wanted you guys to drill down a little bit and add color to some of the commentary around hiring potentially.

我希望你們能夠深入研究一下，並為潛在招聘的一些評論增添色彩。

And have you changed your hiring plans, as you are a remote company, your ability to hire virtually?

由於您是一家遠端公司，您是否改變了招聘計劃，以及虛擬招聘的能力？

And how do you see this playing out both in the next quarter and this fiscal year?

您如何看待下一季和本財年的情況？

Yes.

是的。

Thanks, Rob.

謝謝，羅布。

Since I started the company, a big part of the overall thesis was we needed the best people wherever they were, and that's what we started with when we had the first 20 launch employees.

自從我創辦公司以來，整篇論文的一個重要部分是我們需要最優秀的人才，無論他們在哪裡，這就是我們在擁有前 20 名啟動員工時的出發點。

So we've been able to grow up as a remote company.

因此，我們能夠成長為一家遠距公司。

We've been able to figure out how to make that work to get people in lots of different places.

我們已經找到瞭如何讓人們前往許多不同的地方。

And I think we will continue to do that.

我認為我們將繼續這樣做。

We don't have any plans to change our hiring.

我們沒有任何改變招募的計劃。

It's certainly a competitive environment out there.

這當然是一個競爭環境。

But when you're on the cutting-edge with our data science teams with handling 3 trillion events at scale on a weekly basis with using the latest and greatest technologies, we need the very best people.

但是，當您與我們的數據科學團隊處於前沿，使用最新、最先進的技術每週處理 3 兆個事件時，我們需要最優秀的人才。

I believe we have the best people in the industry.

我相信我們擁有業界最優秀的人才。

And what they've been able to do in a short period of time in a very stressful environment is just herculean.

他們在壓力很大的環境下在短時間內能夠做到的事情是艱鉅的。

So I can't say enough about the great people of CrowdStrike.

對於 CrowdStrike 的偉大員工，我無法言表。

And we're going to continue to hire those folks around the globe, and it's really important to have the very best people to make sure our customers are protected.

我們將繼續在全球範圍內僱用這些人員，擁有最優秀的人才來確保我們的客戶受到保護非常重要。

And our last question comes from Gregg Moskowitz with Mizuho.

我們的最後一個問題來自 Mizuho 的 Gregg Moskowitz。

George, it's hard not to take notice when someone like yourself says this is the best competitive landscape you've encountered in your 27-year career, and you spoke on your prepared remarks around interest level surging post the Broadcom-Symantec integration.

喬治，當像您這樣的人說這是您27 年職業生涯中遇到的最好的競爭環境時，很難不引起注意，並且您在談到博通與賽門鐵克整合後的利益水平飆升時發表了準備好的言論。

What I'm wondering though is whether you've seen any change in the rate of displacement activity around Symantec over the past few months or has that not yet actually kicked in.

但我想知道的是，在過去的幾個月裡，您是否發現賽門鐵克周圍的遷移活動發生了任何變化，或者這種變化尚未真正發生。

Well, thanks, Gregg.

好吧，謝謝，格雷格。

I think it's both.

我認為兩者都是。

Again, as I've said in the past, what we've seen is a compression of someone who may be out a year in terms of their renewal.

再次，正如我過去所說，我們所看到的是那些可能因續約而缺席一年的人的壓縮。

They're now coming to us sooner because it's not an if.

他們現在更快地來找我們，因為這不是「如果」。

It's a win.

這是一場勝利。

In many cases, they've been hit with some ransom or something that really has accelerated while they're coming to us.

在許多情況下，他們收到了一些贖金，或者在他們來找我們時確實加速了。

In other cases, they're just not happy with support.

在其他情況下，他們只是對支持不滿意。

They're not on the named list.

他們不在指定名單上。

And they basically have come to us and said, "Okay, maybe we'll run out one part of the Symantec license but we're going to pick some piece of your suite up.

他們基本上是來找我們說：「好吧，也許我們會用完賽門鐵克許可證的一部分，但我們會選擇你們套件的一部分。

We'll get that up and running now." And then when these things start to run out, we'll ultimately just move everything over to you.

我們現在就把它啟動並運行。

So Gregg, it's really a little bit of both.

所以格雷格，這確實是兩者兼具。

Thank you, and this concludes our Q&A for today.

謝謝大家，今天的問答就到此結束。

I would like to turn the call back to George Kurtz, President and Chief Executive Officer, for his final remarks.

我想將電話轉回總裁兼執行長喬治·庫爾茨 (George Kurtz)，請他發表最後的演講。

All right.

好的。

Well, thanks to all of you for your time today.

好的，感謝大家今天抽出寶貴的時間。

Obviously, it's a very trying environment, and our hearts and prayers go out to all the folks that are affected by this virus.

顯然，這是一個非常艱難的環境，我們向所有受這種病毒影響的人們致以誠心和祈禱。

We certainly appreciate your interest, and we look forward to speaking with you next quarter.

我們當然感謝您的興趣，我們期待下個季度與您交談。

Thank you so much, and please stay safe.

非常感謝您，請注意安全。

And with that, ladies and gentlemen, we thank you for participating in today's program.

女士們、先生們，我們感謝你們參加今天的節目。

You may now disconnect.

您現在可以斷開連線。

Have a wonderful evening.

祝您有個美好的夜晚。