CrowdStrike Holdings Inc (CRWD) 2022 Q4 法說會逐字稿

Thank you for standing by, and welcome to the CrowdStrike Fourth Quarter and Fiscal Year 2022 Results Conference Call. (Operator Instructions) As a reminder today's call is being recorded.

感謝您的支持，並歡迎參加 CrowdStrike 第四季度和 2022 財年業績電話會議。 （操作員說明）作為提醒，今天的通話正在錄音中。

I would now like to turn the conference to your host, Ms. Maria Riley, Vice President of Investor Relations. Please go ahead, ma'am.

我現在想把會議轉給您的主持人，投資者關係副總裁 Maria Riley 女士。請繼續，女士。

Good afternoon, and thank you for your participation today. With me on the call are George Kurtz, President and Chief Executive Officer and Co-Founder of CrowdStrike; and Burt Podbere, Chief Financial Officer.

下午好，感謝您今天的參與。與我通話的還有 CrowdStrike 的總裁兼首席執行官兼聯合創始人 George Kurtz；和首席財務官 Burt Podbere。

Before we get started, I would like to note that certain statements made during this conference call that are not historical facts, including those regarding our future plans, objectives, growth and expected performance, including our outlook for the first quarter and fiscal year 2023, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our outlook only as of the date of this call. 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.

在我們開始之前，我想指出，在本次電話會議上所做的某些陳述不是歷史事實，包括關於我們未來計劃、目標、增長和預期業績的陳述，包括我們對第一季度和 2023 財年的展望，是 1995 年《私人證券訴訟改革法案》含義內的前瞻性陳述。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。雖然我們相信我們做出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. 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.

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，無論是由於新信息、未來事件或其他原因。有關可能影響公司財務業績的這些和其他因素的更多信息包含在我們不時向美國證券交易委員會提交的文件中，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 discussed on this call will be non-GAAP. 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 our Investor Relations website at ir.crowdstrike.com or on our Form 8-K filed with the SEC today.

此外，除非另有說明，不包括收入，本次電話會議中討論的所有財務措施都將是非公認會計原則。關於我們為什麼使用非 GAAP 財務措施的討論以及顯示 GAAP 與非 GAAP 結果的對賬時間表目前可在我們的新聞稿中找到，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 8 上找到- K 今天向 SEC 提交了申請。

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

有了這個，我現在將把電話轉給喬治開始。

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

謝謝你，瑪麗亞，謝謝大家加入我們。

Before we get started, I would like to acknowledge the war in Ukraine. Our deepest thoughts and support are with all of those impacted by this tragedy as we are reminded of the terrible human toll that military conflict brings. We are hoping for peace in Ukraine and the broader region.

在我們開始之前，我想承認烏克蘭的戰爭。我們對所有受這場悲劇影響的人表示最深切的思念和支持，因為我們想起了軍事衝突帶來的可怕的人員傷亡。我們希望烏克蘭和更廣泛的地區實現和平。

Turning to our financial results. I will start today's call by summarizing 4 key points. First, CrowdStrike delivered an exceptional fourth quarter that far exceeded our expectations. This quarter's results are headlined by an acceleration in net new ARR growth for the second consecutive quarter to reach $217 million. Record 19% non-GAAP operating margin and record free cash flow of $127 million or approximately $197 million when excluding the IP transfer tax payment related to the acquisition of Humio.

轉向我們的財務業績。我將從總結 4 個關鍵點開始今天的電話會議。首先，CrowdStrike 在第四季度的表現非常出色，遠遠超出了我們的預期。本季度的業績以連續第二個季度的淨新 ARR 增長加速達到 2.17 億美元為標題。不計與收購 Humio 相關的 IP 轉讓稅時，非 GAAP 營業利潤率為 19%，自由現金流為 1.27 億美元或約 1.97 億美元。

Second, our success outside of traditional endpoint security is now punctuated by both scale and hyper growth as we surpassed the $150 million ARR milestone, while growing in excess of 100% year-over-year for our IT hygiene, vulnerability management, identity protection and log management modules, collectively.

其次，隨著我們超過 1.5 億美元的 ARR 里程碑，我們在傳統端點安全之外的成功現在被規模和超速增長所打斷，同時我們的 IT 衛生、漏洞管理、身份保護和日誌管理模塊，統稱為。

Third, we exited the year with tremendous momentum for ARR derived from Falcon deployments in the public cloud, where ARR eclipsed the $100 million milestone and grew 20% quarter-on-quarter as we lead the effort to transform security for the public cloud.

第三，我們在公有云中的 Falcon 部署帶來了 ARR 的巨大動力，ARR 超過了 1 億美元的里程碑，環比增長 20%，因為我們領導了公有云安全性轉型。

And fourth, as you can see from our outstanding results, our growth engine is executing on all cylinders, which includes our thriving partner ecosystem. One partner I'd like to highlight is AWS. In fiscal 2022, ending ARR transacted through the AWS marketplace grew more than 100% year-over-year. Furthermore, CrowdStrike ended the year as one of the top ISV partners by transaction volume on the AWS Marketplace, with partner source deals growing strongly throughout the year. We believe this speaks to the success of our partnership with the world's largest public cloud provider and highlights the value we can provide to both partners and customers alike.

第四，正如您從我們出色的業績中看到的那樣，我們的增長引擎正在全方位執行，其中包括我們蓬勃發展的合作夥伴生態系統。我想強調的一個合作夥伴是 AWS。在 2022 財年，通過 AWS 市場交易的期末 ARR 同比增長超過 100%。此外，按 AWS Marketplace 交易量計算，CrowdStrike 在年底成為頂級 ISV 合作夥伴之一，合作夥伴來源交易全年強勁增長。我們相信這說明了我們與全球最大的公共雲提供商合作的成功，並突出了我們可以為合作夥伴和客戶提供的價值。

Now let's discuss our results in more detail. Net new ARR growth accelerated for the second quarter in a row to reach $217 million, and for the first time in company history, surpassed the $200 million milestone. Demand was driven by expansion in the core endpoint market as well as a record quarter for cloud, identity protection and Humio. Growth was also fueled by rapid customer expansion among companies of all sizes, from large enterprises to small businesses. We added over 1,600 subscription customers for the third consecutive quarter, bringing the total number of customers that rely on CrowdStrike to protect their business to 16,325, a 65% increase year-over-year.

現在讓我們更詳細地討論我們的結果。淨新 ARR 增長連續第二季度加速達到 2.17 億美元，在公司歷史上首次超過 2 億美元的里程碑。需求是由核心端點市場的擴張以及雲、身份保護和 Humio 創紀錄的季度推動的。從大型企業到小型企業，各種規模的公司的客戶快速擴張也推動了增長。我們連續第三個季度增加了 1,600 多名訂閱客戶，使依賴 CrowdStrike 保護其業務的客戶總數達到 16,325 名，同比增長 65%。

Demand in the quarter was broad-based, and new wins included sizable deals with multiple top global financial services organization; a record number of new Falcon Complete customers, including Fortune 500 and multinational companies across the technology, media, telecommunications, education and government sectors, among many others; record lands for our Cloud Workload Protection module and Horizon; our agent-less Cloud Security Posture Management module, including wins at a large U.S. insurance provider; a Fortune 250 software company; and a Fortune 50 energy company.

本季度的需求基礎廣泛，新的勝利包括與多家全球頂級金融服務機構的大量交易； Falcon Complete 的新客戶數量創歷史新高，其中包括財富 500 強和技術、媒體、電信、教育和政府部門的跨國公司等；為我們的 Cloud Workload Protection 模塊和 Horizon 記錄土地；我們的無代理雲安全態勢管理模塊，包括在美國一家大型保險提供商的勝利；一家財富 250 強軟件公司；和財富 50 強能源公司。

We achieved another record quarter for our identity protection modules, which significantly differentiates Falcon in the field and continue to lead to higher win rates. Key wins included a global leader in customer experience management, a global financial services company, public sector agencies and multiple wins in the Fortune 500.

我們的身份保護模塊又創下了一個創紀錄的季度，這使 Falcon 在該領域顯著不同，並繼續帶來更高的勝率。主要勝利包括客戶體驗管理領域的全球領導者、全球金融服務公司、公共部門機構以及財富 500 強中的多項勝利。

Q4 was also another record quarter for Humio, with wins across multiple verticals such as retail, financial services, manufacturing, technology and transportation. Our success with Humio this quarter included securing a 7-figure deal with a financial services customer, whose the existing log management solutions have become budget prohibitive given the exponential growth of data being captured by their DevOps team.

第四季度也是 Humio 另一個創紀錄的季度，在零售、金融服務、製造、技術和運輸等多個垂直領域取得了勝利。本季度我們與 Humio 的成功包括與金融服務客戶達成 7 位數的交易，鑑於其 DevOps 團隊捕獲的數據呈指數級增長，其現有日誌管理解決方案的預算已經過高。

And lastly, we are thrilled to announce that Cloudflare, a trusted Crowdstrike technology partner, on a mission to build a better Internet became a new customer in the quarter, adopting both Falcon Complete and Horizon. We look forward to deepening our natural partnership and identifying even more opportunities to work together.

最後，我們很高興地宣布 Cloudflare 是值得信賴的 Crowdstrike 技術合作夥伴，其使命是建立更好的互聯網，在本季度成為新客戶，同時採用了 Falcon Complete 和 Horizon。我們期待深化我們的自然夥伴關係，並尋找更多合作機會。

Among these many fantastic recent wins, let me take a moment to share some additional details about the expansion with a Fortune 50 financial institution that I think exemplifies our technology advantage in action and why scalability and trust matter. Midyear, this particular customer had chosen CrowdStrike to protect its traditional endpoints and displace the legacy incumbent. At approximately the same time, for relationship reasons, this organization had chosen a next-gen competitor to protect a server environment. But after 6 months, they were still struggling to deploy the other vendors' products in its server environment. They were plagued by forced reboots, significant memory usage and unmet product road map promises.

在最近取得的眾多精彩勝利中，讓我花點時間分享一些有關與財富 50 強金融機構進行擴張的更多細節，我認為這體現了我們在行動中的技術優勢以及可擴展性和信任為何重要。年中，這個特定的客戶選擇了 CrowdStrike 來保護其傳統端點並取代傳統的老牌產品。大約在同一時間，出於關係原因，該組織選擇了下一代競爭對手來保護服務器環境。但 6 個月後，他們仍在努力在其服務器環境中部署其他供應商的產品。他們受到強制重啟、大量內存使用和未兌現的產品路線圖承諾的困擾。

While they struggled to get their service protected, Falcon was fully deployed across their hundreds of thousands of endpoints in a matter of weeks, without requiring a reboot. Side-by-side, we showcased our differentiation on a broad scale and a real production environment. This customer was able to see the rich telemetry Falcon provided in real time and the power of our security cloud, all resulting in better efficacy. This customer terminated the other vendor's contract and is now deploying Falcon to protect their servers globally.

雖然他們努力保護自己的服務，但 Falcon 在幾週內就已在數十萬個端點上完全部署，而無需重新啟動。並排，我們在廣泛的範圍和真實的生產環境中展示了我們的差異化。該客戶能夠實時看到 Falcon 提供的豐富遙測數據以及我們安全雲的強大功能，所有這些都帶來了更好的效果。該客戶終止了其他供應商的合同，現在正在部署 Falcon 以保護其全球服務器。

This is just one of many customer stories that demonstrate the fundamental reason why we have earned our leadership with increased win rates and record displacement, efficacy, scalability, manageability, real-time versus batch mode and, importantly, our ability to consolidate agents while solving a growing number of real-world business problems.

這只是眾多客戶案例之一，這些案例展示了我們憑藉提高的勝率和創紀錄的排量、效率、可擴展性、可管理性、實時與批處理模式以及重要的是我們在解決問題時整合代理的能力而贏得領導地位的根本原因之一。越來越多的實際業務問題。

Q4 was also a record quarter for our partner ecosystem. In total, for fiscal year 2022, we gained significant leverage from our partner ecosystem. During the year, partner stores' ending ARR grew 83% year-over-year, with our MSSP business growing more than 200%.

第四季度也是我們合作夥伴生態系統創紀錄的季度。總的來說，在 2022 財年，我們從合作夥伴生態系統中獲得了巨大的影響力。年內，合作夥伴門店的期末 ARR 同比增長 83%，我們的 MSSP 業務增長超過 200%。

Our architecture is fundamentally different from any other vendor we see in the market. While our technology advantages are vast, it all starts with how we design the platform from the beginning, with smart filtering capabilities on the agent, which gives us the ability to dynamically adjust our aperture to stream rich telemetry to the cloud in real time. We believe these foundational architectural elements have created a high barrier to entry, while competitors operate batch mode and struggle with storing data on the endpoint.

我們的架構與我們在市場上看到的任何其他供應商根本不同。雖然我們的技術優勢是巨大的，但這一切都始於我們從一開始就設計平台，在代理上具有智能過濾功能，這使我們能夠動態調整我們的光圈，將豐富的遙測數據實時傳輸到雲端。我們認為，這些基礎架構元素創造了很高的進入門檻，而競爭對手則採用批處理模式並難以在端點上存儲數據。

We continue to extend our technology leadership across the entire platform. As we announced yesterday, Humio set the standard for streaming index-free data ingestion and reached a new benchmark of over 1 petabyte of data ingestion per day. CrowdStrike will continue to leverage the speed and scale of the Humio engine to extend our position in the XDR space.

我們繼續在整個平台上擴展我們的技術領先地位。正如我們昨天宣布的那樣，Humio 為流式無索引數據攝取設定了標準，並達到了每天超過 1 PB 數據攝取的新基準。 CrowdStrike 將繼續利用 Humio 引擎的速度和規模擴大我們在 XDR 領域的地位。

You have heard me say that CrowdStrike is more than just an endpoint provider. The success of our platform strategy is reflected in the hyper growth we are deriving from many of our modules as well as our strong module adoption metrics, which have consistently increased quarter after quarter.

你聽說過我說 CrowdStrike 不僅僅是一個端點提供商。我們平台戰略的成功反映在我們從我們的許多模塊中獲得的超高速增長以及我們強大的模塊採用指標上，這些指標一直在逐季增加。

In Q4, subscription customers with 4 or more, 5 or more and 6 or more modules increased to 69%, 57% and 34%, respectively. As both new and existing customers increasingly trust Falcon to solve security challenges outside of core endpoint, we have multiple product areas contributing significantly to ARR growth. We are seeing tremendous growth from our emerging products that solve use cases outside of traditional endpoint protection. This includes our Discover, Spotlight and identity protection modules as well as Humio.

在第四季度，擁有 4 個或更多、5 個或更多和 6 個或更多模塊的訂閱客戶分別增加到 69%、57% 和 34%。隨著新老客戶越來越信任 Falcon 能夠解決核心端點之外的安全挑戰，我們擁有多個產品領域，為 ARR 增長做出了重大貢獻。我們的新興產品解決了傳統端點保護之外的用例，我們看到了巨大的增長。這包括我們的 Discover、Spotlight 和身份保護模塊以及 Humio。

ARR for this group grew more than 100% over last year, contributing $157 million to FY 2022 ending ARR. These modules are significant growth drivers for our overall business, with ending ARR for these modules growing 30% quarter-over-quarter and representing approximately 17% of our Q4 net new ARR collectively. Our success to date in these adjacent areas speaks to the extensibility of our platform outside of core next-gen AV and EDR, the data we collect and our ability to make meaningful inroads in accessing new TAMs.

該組的 ARR 比去年增長了 100% 以上，為 2022 財年結束的 ARR 貢獻了 1.57 億美元。這些模塊是我們整體業務的重要增長動力，這些模塊的最終 ARR 環比增長 30%，約占我們第四季度淨新 ARR 的 17%。迄今為止，我們在這些相鄰領域取得的成功說明了我們平台在核心下一代 AV 和 EDR 之外的可擴展性、我們收集的數據以及我們在訪問新 TAM 方面取得有意義進展的能力。

Changing from a module perspective to a deployment environment view, our public cloud business surpassed the $100 million milestone in Q4 to reach $106 million in ending ARR. This milestone encompasses our modules deployed in the public cloud, including our cloud runtime protection and CSPM modules. We have seen tremendous momentum in this business as we exited the year.

從模塊視角轉變為部署環境視角，我們的公共雲業務在第四季度超過了 1 億美元的里程碑，最終 ARR 達到 1.06 億美元。這個里程碑包括我們部署在公共雲中的模塊，包括我們的雲運行時保護和 CSPM 模塊。今年結束時，我們看到了這項業務的巨大發展勢頭。

Ending ARR growth for our business when viewed through a cloud deployment lens outpaced the growth of our overall business, growing 20% quarter-over-quarter and representing approximately 8% of our Q4 net new ARR. Cloud workloads are increasingly targeted by adversaries and are largely underprotected, representing a significant growth opportunity in FY '23 and beyond.

從雲部署的角度來看，結束我們業務的 ARR 增長超過了我們整體業務的增長，環比增長 20%，約占我們第四季度淨新 ARR 的 8%。雲工作負載越來越多地成為攻擊者的目標，並且在很大程度上沒有得到充分保護，這代表了 23 財年及以後的重大增長機會。

Moving to the market dynamics. There are powerful tailwinds driving our markets, and we do not currently see any indication that these trends will abate anytime soon. The adversaries are certainly not slowing down, actually, quite the opposite. As we've published in our most recent global threat report, 2021 provided no rest for the weary, with an 82% increase in ransomware-related data leaks. As the nation's state events of the past few weeks have demonstrated, cyberspace is center stage, joining land, air, sea and space as the fifth dimension of warfare. There are no borders in cyberspace and the cyber blast radius has no bounds, putting every organization and government at risk as attacks can extend far beyond their intended targets, as we saw with NotPetya.

轉向市場動態。有強大的順風推動我們的市場，我們目前沒有看到任何跡象表明這些趨勢會很快減弱。對手當然不會放慢速度，實際上恰恰相反。正如我們在最近的全球威脅報告中發布的那樣，2021 年讓疲倦的人沒有休息，與勒索軟件相關的數據洩露增加了 82%。正如該國過去幾週的國家事件所表明的那樣，網絡空間是中心舞台，與陸地、空中、海洋和太空一起成為戰爭的第五維度。正如我們在 NotPetya 中看到的那樣，網絡空間沒有國界，網絡爆炸半徑也沒有界限，因為攻擊可能遠遠超出其預期目標，因此每個組織和政府都處於危險之中。

Last year, 62% of attacks we observed were malware-less, with most of these involving compromised identities. We expect that both e-criminals and nation-state adversaries alike will continue to exploit vulnerabilities across endpoints and cloud environments and ramp up tradecraft around the use of identity and stolen credentials to bypass legacy defenses.

去年，我們觀察到的攻擊中有 62% 沒有惡意軟件，其中大部分涉及身份洩露。我們預計，電子犯罪分子和民族國家的對手都將繼續利用端點和雲環境中的漏洞，並圍繞使用身份和被盜憑證來繞過傳統防禦的交易手段增加。

In addition to advancing adversary tactics in a heightened threat environment, organizations must contend with the ongoing security skills gap, which we have seen drive increased demand for our Falcon Complete offering. To help companies combat the increasing threat of compromised identity, last week we launched Falcon Identity Threat Protection Complete, the industry's first managed identity solution and a new way to help customers scale their security teams to protect against sophisticated attacks and stop breaches.

除了在威脅加劇的環境中推進對手戰術外，組織還必須應對持續存在的安全技能差距，我們已經看到這推動了對 Falcon Complete 產品的需求增加。為了幫助公司應對日益嚴重的身份洩露威脅，上週我們推出了 Falcon Identity Threat Protection Complete，這是業界首個託管身份解決方案，也是一種幫助客戶擴展其安全團隊以抵禦複雜攻擊和阻止違規行為的新方法。

Additionally, the attack surface is expanding rapidly and the digital supply chain is ever growing as organizations embrace digital transformation and move more workloads to the cloud. We believe our TAM continues to expand, and all of these factors will lead to sustained market growth for the foreseeable future. We also continue to see a very favorable competitive environment and multiyear runway to displacing legacy endpoint vendors, which is bolstering our growth as companies look to transform their security stack.

此外，隨著組織接受數字化轉型並將更多工作負載轉移到雲端，攻擊面正在迅速擴大，數字供應鏈也在不斷增長。我們相信我們的 TAM 將繼續擴大，所有這些因素將在可預見的未來帶來持續的市場增長。我們還繼續看到非常有利的競爭環境和取代傳統端點供應商的多年跑道，隨著公司尋求轉變其安全堆棧，這正在支持我們的增長。

Before I hand it over to Burt, I will provide some final thoughts on the big picture of what we see unfolding. As I shared with you in my opening comments, in addition to our growing leadership in the EPP market, we now have multiple vectors driving our growth and scale that are outside what some might consider our core. We have been very deliberate and purposeful in choosing to enter markets.

在我把它交給伯特之前，我將就我們所看到的大局提供一些最終的想法。正如我在開場白中與您分享的那樣，除了我們在 EPP 市場日益增長的領導地位之外，我們現在還有多個驅動我們的增長和規模的向量，這些向量超出了某些人可能認為的核心。我們在選擇進入市場時是非常慎重和有目的的。

Enterprise risk is coalescing around 3 critical areas: endpoints or workloads, identity and data, all 3 areas we have been investing, innovating and see as core to CrowdStrike's mission. These areas represent the biggest risk for organizations, and customers are increasingly looking to the Falcon platform to solve their most pressing security needs as legacy products in these markets are brittle, complicated and struggle to deliver value to the customer.

企業風險正在圍繞 3 個關鍵領域合併：端點或工作負載、身份和數據，所有這 3 個領域都是我們一直在投資、創新並視為 CrowdStrike 使命的核心。這些領域對組織來說是最大的風險，客戶越來越希望 Falcon 平台來解決他們最緊迫的安全需求，因為這些市場中的傳統產品脆弱、複雜並且難以為客戶提供價值。

Given our footprint on the endpoint or workload, the data we collect and the advantages our architecture and Security Cloud afford, we see great alignment and great opportunity in our approach to solving a multitude of problems for customers as we innovate and disrupt in these emergent categories, such as log management, SIM and observability, which is reflected in our growing strength in these newer markets as well as endpoint protection.

鑑於我們在端點或工作負載上的足跡、我們收集的數據以及我們的架構和安全雲所提供的優勢，我們在這些新興類別中進行創新和顛覆時，在為客戶解決眾多問題的方法中看到了巨大的一致性和巨大的機會，例如日誌管理、SIM 和可觀察性，這反映在我們在這些新市場以及端點保護方面不斷增長的實力。

In closing, I would like to thank every CrowdStriker around the world for their tireless dedication to protecting our customers, which ultimately translates to the financial success of our company. I'm humbled and inspired by the commitment, level of execution and hard work CrowdStrikers exemplify on a daily basis. They are the everyday champions that make results like the fourth quarter possible. Thank you.

最後，我要感謝世界各地的每一位 CrowdStriker 為保護我們的客戶所做的不懈努力，這最終轉化為我們公司的財務成功。 CrowdStrikers 每天所體現的承諾、執行水平和辛勤工作讓我感到謙卑和鼓舞。他們是使第四節這樣的結果成為可能的日常冠軍。謝謝你。

With that, I will turn the call over to Burt to discuss our financial results in more detail.

有了這個，我將把電話轉給 Burt，以更詳細地討論我們的財務業績。

Thank you, George, and good afternoon, everyone. As a quick reminder, unless otherwise noted, all numbers, except revenue mentioned during my remarks today, are non-GAAP.

謝謝你，喬治，大家下午好。快速提醒一下，除非另有說明，否則除我今天講話中提到的收入外，所有數字都是非公認會計原則。

Before we get started, I will note that the results we are reporting today include the acquisition of SecureCircle, which was de minimis to both revenue and ARR, contributing less than $1 million in Q4 ARR. The acquisition of SecureCircle resulted in the addition of 26 net new customers in the quarter.

在我們開始之前，我會注意到我們今天報告的結果包括收購 SecureCircle，這對收入和 ARR 都是微不足道的，在第四季度的 ARR 中貢獻不到 100 萬美元。收購 SecureCircle 導致本季度新增 26 名淨新客戶。

We once again delivered exceptional results to top off a phenomenal year. We finished the year with over $1.73 billion in ending ARR. And in fiscal year 2022, we delivered 65% ARR growth, 66% total revenue growth, 215% operating income growth, 157% net income growth and record free cash flow of $442 million or 30% of revenue. This is the second year in a row CrowdStrike delivered 30% or better free cash flow margin, which is in line with our target model.

我們再次取得了非凡的成績，為非凡的一年畫上了圓滿的句號。我們以超過 17.3 億美元的 ARR 結束了這一年。在 2022 財年，我們實現了 65% 的 ARR 增長、66% 的總收入增長、215% 的營業收入增長、157% 的淨收入增長和創紀錄的 4.42 億美元或收入的 30% 的自由現金流。這是 CrowdStrike 連續第二年實現 30% 或更高的自由現金流利潤率，這符合我們的目標模型。

Importantly, we accomplished these results, while also aggressively investing in the business and expanding our remarkable team by 46%. We believe our strong performance highlights that in addition to our clear and defined mission and our cloud-native architecture, our business fundamentals possess the hallmark characteristics of SaaS leaders that have transformed and come to dominate their respective markets, including rapid growth at an ever-increasing scale, best-in-class gross retention rates, enduring market dynamics and a growing leadership position as well as a highly leverageable model with the ability to deliver phenomenal free cash flow. As we continue to capitalize on our unique market position, I firmly believe CrowdStrike's best days are ahead.

重要的是，我們取得了這些成果，同時還積極投資業務並將我們卓越的團隊擴大了 46%。我們相信，我們的強勁表現突出表明，除了我們明確而明確的使命和我們的雲原生架構外，我們的業務基礎還具有 SaaS 領導者的標誌性特徵，這些領導者已經轉變並主導了各自的市場，包括以前所未有的速度快速增長——不斷擴大的規模、一流的總保留率、持久的市場動態和不斷增長的領導地位，以及能夠提供驚人的自由現金流的高度可利用的模型。隨著我們繼續利用我們獨特的市場地位，我堅信 CrowdStrike 最好的日子即將到來。

Now moving to the fourth quarter. Net new ARR growth accelerated for the second consecutive quarter. Demand in the quarter was broad-based, fueled by strength in multiple areas of the business and reflects continued strong customer adoption of our core products. Growing success with our newer product initiatives, including identity protection, log management and cloud, record expansion business and continued rapid new customer acquisition.

現在進入第四季度。淨新 ARR 增長連續第二個季度加速。本季度的需求基礎廣泛，受到多個業務領域實力的推動，反映了客戶對我們核心產品的持續強勁採用。我們的新產品計劃不斷取得成功，包括身份保護、日誌管理和雲、記錄擴展業務和持續快速的新客戶獲取。

Net new ARR grew 52% to reach a new all-time high of $216.9 million. The composition of net new ARR was very well balanced across deal size, even though 2 large accounts contributed approximately 8 figures each to net new ARR this quarter. We believe this represents our continued leadership in the enterprise segment, expanding deal sizes and the pricing leverage attributable to our distinct product differentiation. Our dollar-based net retention rate was once again above our benchmark. We continue to be very pleased with the success of our land-and-expand strategy.

淨新 ARR 增長 52%，達到 2.169 億美元的歷史新高。淨新 ARR 的構成在交易規模上非常平衡，儘管 2 個大賬戶在本季度各貢獻了大約 8 位數的淨新 ARR。我們認為，這代表了我們在企業領域的持續領先地位、不斷擴大的交易規模以及歸因於我們獨特產品差異化的定價槓桿。我們基於美元的淨保留率再次高於我們的基準。我們繼續對我們的土地和擴張戰略的成功感到非常高興。

Our gross retention rate remains high and best-in-class at 98.1% at year-end. Our dollar-based net retention rate was above the 120% benchmark throughout the year. Net retention was 123.9% as of the end of FY '22, which is essentially a similar level to last year but on a much bigger base.

我們的總保留率在年底保持在 98.1% 的高水平和一流水平。我們以美元為基礎的淨保留率全年高於 120% 的基準。截至 22 財年末，淨留存率為 123.9%，與去年基本持平，但基數更大。

For the interim FY '22 quarters, net retention was 121.8% in Q3, 120.4% in Q2 and 123.4% in Q1. Our professional services organization is a strong lead-generation engine for the Falcon platform. Among organizations who first become a customer after February 1, 2020, for each $1 spent by those customers on their initial engagement for our incident response or proactive services, as of January 31, 2022, we derived an average of $5.71 in ARR for those subscription contracts, up from $5.51 reported last year.

在 22 財年中期，第三季度的淨留存率為 121.8%，第二季度為 120.4%，第一季度為 123.4%。我們的專業服務組織是獵鷹平台強大的潛在客戶生成引擎。在 2020 年 2 月 1 日之後首次成為客戶的組織中，截至 2022 年 1 月 31 日，這些客戶在初次參與我們的事件響應或主動服務時每花費 1 美元，我們為這些訂閱獲得了 5.71 美元的平均 ARR合同，高於去年報告的 5.51 美元。

Moving to the P&L. Total revenue grew 63% over Q4 of last year to reach $431.0 million. Subscription revenue grew 66% over Q4 of last year to reach $405.4 million. Professional services revenue was $25.6 million, setting a new record for the sixth consecutive quarter and representing 26% year-over-year growth.

轉到損益表。總收入比去年第四季度增長 63%，達到 4.31 億美元。訂閱收入比去年第四季度增長 66%，達到 4.054 億美元。專業服務收入為 2560 萬美元，連續第六個季度創下新紀錄，同比增長 26%。

Fourth quarter total and subscription non-GAAP gross margins remained relatively consistent at 77% and 79%, respectively. We continue to be pleased with our strong subscription gross margin performance as we continue to invest for growing demand.

第四季度總毛利率和訂閱非 GAAP 毛利率分別保持在 77% 和 79% 的相對穩定水平。隨著我們繼續投資以滿足不斷增長的需求，我們繼續對我們強勁的訂閱毛利率表現感到滿意。

Total non-GAAP operating expenses in the fourth quarter were approximately $250.8 million or 58% of revenue versus $170.3 million last year or 64% of revenue.

第四季度非美國通用會計準則運營費用總額約為 2.508 億美元，佔收入的 58%，而去年為 1.703 億美元，佔收入的 64%。

In Q4, we ended with a magic number of 1.3 as we continue to ramp investments to capture more of the market opportunity at hand and expand globally. Our continued exceptional unit economics speaks to the efficiency of our go-to-market engine and our ability to rapidly onboard and support customers of all sizes.

在第四季度，我們以 1.3 的神奇數字結束，因為我們繼續加大投資以抓住更多手頭的市場機會並在全球擴張。我們持續卓越的單位經濟性說明了我們進入市場的引擎的效率以及我們快速加入和支持各種規模客戶的能力。

We also believe that a magic number of 1.3 continues to indicate that we should increase investments even more given the massive market opportunity. The leverage we generated this year demonstrates the efficiency in our model and enables us to step up investments in new technologies, new international geographies and other marketing programs as well as continue to hire aggressively. We believe the investments we are making today will lead to sustained growth over the long term and maintain our pole position as the trusted security partner of choice.

我們還認為，1.3 的神奇數字繼續表明，鑑於巨大的市場機會，我們應該更多地增加投資。我們今年產生的影響力證明了我們模式的效率，使我們能夠加大對新技術、新國際地區和其他營銷計劃的投資，並繼續積極招聘。我們相信，我們今天所做的投資將帶來長期的持續增長，並保持我們作為值得信賴的首選安全合作夥伴的領先地位。

Fourth quarter non-GAAP operating income more than doubled, growing 134% year-over-year to reach a record $80.4 million, and operating margin improved approximately 6 percentage points over Q4 of last year to reach 19%. Non-GAAP net income attributable to CrowdStrike in Q4 also more than doubled, growing to a record $70.4 million or $0.30 on a diluted per-share basis. Our weighted average common shares used to calculate fourth quarter non-GAAP EPS attributable to CrowdStrike was on a diluted basis and totaled approximately 238 million shares.

第四季度非美國通用會計準則營業收入翻了一番多，同比增長 134%，達到創紀錄的 8040 萬美元，營業利潤率比去年第四季度提高約 6 個百分點，達到 19%。第四季度歸屬於 CrowdStrike 的非 GAAP 淨收入也翻了一番多，增長到創紀錄的 7040 萬美元或攤薄後每股 0.30 美元。我們用於計算歸屬於 CrowdStrike 的第四季度非公認會計原則每股收益的加權平均普通股是在稀釋的基礎上計算的，總計約 2.38 億股。

We ended the fourth quarter with a strong balance sheet. Cash and cash equivalents increased to approximately $2 billion and reflects the $61 million cash payment, net of cash acquired for the acquisition of SecureCircle, and the approximately $70 million cash payment for IP transfer tax related to the acquisition of Humio.

我們以強勁的資產負債表結束了第四季度。現金和現金等價物增加至約 20 億美元，反映了 6100 萬美元的現金支付，扣除收購 SecureCircle 獲得的現金，以及與收購 Humio 相關的知識產權轉讓稅的約 7000 萬美元現金支付。

Cash flow from operations in the fourth quarter was a record $159.7 million, and free cash flow grew to a new record of $127.3 million or 30% of revenue. Excluding the approximately $70 million IP transfer tax payment related to the acquisition of Humio, free cash flow would have been approximately $197 million or 46% of revenue for Q4 and $512 million or 35% of revenue for the fiscal year.

第四季度運營現金流達到創紀錄的 1.597 億美元，自由現金流增長至創紀錄的 1.273 億美元，佔收入的 30%。不包括與收購 Humio 相關的約 7000 萬美元的 IP 轉讓稅，第四季度的自由現金流約為 1.97 億美元，佔收入的 46%，本財年的自由現金流為 5.12 億美元，佔收入的 35%。

Before we move to guidance, I'd like to cover a few modeling notes. First, I would like to note that we have entered the quarter with the strongest pipeline ever for Q1. While we do not specifically guide to ending or net new ARR, given the incredible performance of Q4, which included 2 accounts that contributed approximately 8 figures each to net new ARR, I'd like to provide a framework for how to think about net new ARR for Q1.

在我們轉向指導之前，我想介紹一些建模說明。首先，我想指出，我們已經進入了第一季度管道有史以來最強的季度。雖然我們沒有具體指導結束或淨新 ARR，但鑑於第四季度令人難以置信的表現，其中包括 2 個賬戶，每個賬戶為淨新 ARR 貢獻了大約 8 個數字，我想提供一個框架來思考淨新 ARR第一季度的 ARR。

As you may recall, last year, we significantly overperformed in Q1, and it was not indicative of typical seasonality. Consistent with years prior to that, 11% to 13% sequential seasonality was more typical for net new ARR, which we would expect this Q1 after adjusting for the 2 large contributors in Q4. And this is implied in our revenue guidance.

您可能還記得，去年我們在第一季度的表現明顯優於預期，這並不代表典型的季節性。與之前的幾年一致，11% 到 13% 的連續季節性對於淨新增 ARR 更為典型，我們預計在對第四季度的 2 個主要貢獻者進行調整後，我們預計第一季度。這在我們的收入指導中有所暗示。

Second, as we continue to invest for future growth and scale and invest to remain ahead of any potential supply chain delays, we expect capital expenditures as a percent of revenue to be between 10% and 12% in fiscal year 2023. We anticipate these investments will be more weighted to the first half of the year than the second. At the same time, we are planning to maintain free cash flow margin at 30% of revenue for the year, weighted more towards the second half.

其次，隨著我們繼續投資於未來的增長和規模，並投資以保持領先於任何潛在的供應鏈延遲，我們預計 2023 財年資本支出佔收入的百分比將在 10% 至 12% 之間。我們預計這些投資今年上半年的比重將高於下半年。同時，我們計劃將今年的自由現金流保持在收入的 30%，並在下半年更加重視。

Moving to our guidance. We are starting the new year with a robust pipeline, and we remain optimistic about the demand for our offerings and the powerful secular trends fueling our growth.

轉向我們的指導。我們以強勁的管道開始新的一年，我們對我們產品的需求和推動我們增長的強大長期趨勢保持樂觀。

For the first quarter of FY '23, we expect total revenue to be in the range of $458.9 million to $465.4 million, reflecting a year-over-year growth rate of 52% to 54%, with subscription revenue being the dominant driver of growth. We expect non-GAAP income from operations to be in the range of $61.7 million to $66.4 million, and non-GAAP net income attributable to Crowdstrike to be in the range of $52 million to $56.7 million.

對於 23 財年第一季度，我們預計總收入將在 4.589 億美元至 4.654 億美元之間，同比增長 52% 至 54%，訂閱收入是增長的主要驅動力.我們預計非 GAAP 運營收入將在 6170 萬美元至 6640 萬美元之間，而 Crowdstrike 的非 GAAP 淨收入將在 5200 萬美元至 5670 萬美元之間。

We expect diluted non-GAAP net income per share attributable to CrowdStrike to be in the range of $0.22 to $0.24, utilizing a weighted average share count of 240 million shares on a diluted basis. For the full fiscal year 2023, we currently expect total revenue to be in the range of $2,133.1 million to $2,163.2 million, reflecting a growth rate of 47% to 49% over the prior fiscal year. Non-GAAP income from operations is expected to be between $289.2 million and $311.8 million.

我們預計 CrowdStrike 的攤薄後非公認會計原則每股淨收益將在 0.22 美元至 0.24 美元之間，使用攤薄後 2.4 億股的加權平均股數。對於整個 2023 財年，我們目前預計總收入將在 21.331 億美元至 21.632 億美元之間，比上一財年增長 47% 至 49%。非公認會計原則的運營收入預計在 2.892 億美元至 3.118 億美元之間。

We expect fiscal 2023 non-GAAP net income attributable to CrowdStrike to be between $251.1 million and $273.6 million. Utilizing 243 million weighted average shares on a diluted basis, we expect non-GAAP net income per share attributable to CrowdStrike to be in the range of $1.03 to $1.13.

我們預計歸屬於 CrowdStrike 的 2023 財年非公認會計原則淨收入將在 2.511 億美元至 2.736 億美元之間。利用稀釋後的 2.43 億股加權平均股，我們預計 CrowdStrike 的非公認會計準則每股淨收益將在 1.03 美元至 1.13 美元之間。

We look forward to sharing additional details about our business on our next investor webinar scheduled for April 7.

我們期待在定於 4 月 7 日舉行的下一次投資者網絡研討會上分享有關我們業務的更多詳細信息。

George and I will now take your questions.

喬治和我現在將回答你的問題。

(Operator Instructions) Our first question comes from Saket Kalia of Barclays.

（操作員說明）我們的第一個問題來自 Barclays 的 Saket Kalia。

Okay, great. Maybe for you, George. First of all, a lot of nice, helpful disclosure on some of the nonendpoint products. Maybe if we could just zero in on one. I was wondering if you could talk a little bit more about Preempt. It feels like it's been a module that's been gaining traction over the last couple of quarters. Can you just talk a little bit about how you feel like it differentiates from your competition? And also how it might contribute to deal sizes?

好的，太好了。也許對你來說，喬治。首先，關於一些非端點產品的很多很好的、有用的披露。也許如果我們可以將一個歸零。我想知道你是否可以多談談 Preempt。感覺就像它是一個在過去幾個季度中越來越受歡迎的模塊。你能談談你覺得它與你的競爭對手有何不同嗎？以及它如何影響交易規模？

Sure. Thanks, Saket.

當然。謝謝，薩凱特。

When you look at our Identity Zero Trust module which came from the Preempt acquisition that's now been integrated into the platform, which makes it seamless, it's obviously been a standout for us because when we think about the threat environment, we've seen many of these breaches, abused identity, abused directory services, and there's a massive compliance issue in just understanding all of these accounts where they live and who has access to privileged accounts. So this is a highly differentiated module. Our competitors really don't have anything that's close to this.

當您查看來自 Preempt 收購的身份零信任模塊時，該模塊現在已集成到平台中，使其無縫連接，這對我們來說顯然是一個突出的，因為當我們考慮威脅環境時，我們已經看到了許多這些違規行為、濫用身份、濫用目錄服務以及僅了解所有這些帳戶的居住地以及誰可以訪問特權帳戶就存在巨大的合規性問題。所以這是一個高度差異化的模塊。我們的競爭對手真的沒有任何東西可以接近這一點。

The way it works, the AI algorithms that we have built around it that we got from the Preempt team and the expertise that we have in this area. So it certainly is a big way for us to help differentiate the platform among many others. And it has been an absolute standout for us. And I think we've taken the time and effort to do the integration right, which is an important part of the way CrowdStrike looks at its platform.

它的工作方式、我們從 Preempt 團隊獲得的圍繞它構建的 AI 算法以及我們在該領域的專業知識。因此，對於我們來說，這無疑是幫助該平台與眾多其他平台區分開來的重要途徑。這對我們來說是絕對的佼佼者。而且我認為我們已經花費了時間和精力來進行正確的集成，這是 CrowdStrike 看待其平台的方式的重要組成部分。

Our next question comes from Sterling Auty of JPMorgan.

我們的下一個問題來自摩根大通的 Sterling Auty。

I wanted to zero in on the cloud security opportunity that you talked about. And what I'm curious about is, when you go in and sell what does that security stack look like in the cloud? And what percentage of the wallet do you think you can capture versus the kind of capture rate that you get on-prem with endpoint?

我想把你談到的雲安全機會歸零。我很好奇的是，當你進入並出售雲中的安全堆棧時，它是什麼樣子的？你認為你可以捕獲多少百分比的錢包，而不是你在本地通過端點獲得的捕獲率？

Sure. Thanks, Sterling. When we look at the cloud business, and I think we put some good disclosures around our penetration there, to us it's still a greenfield opportunity. And the beauty of our platform is that we cover 2 very important areas: one is runtime protection; and the second one is Cloud Security Posture Management. And there are companies that have one or the other. We actually have both, and they're integrated across our Falcon control plane, which makes it very effective.

當然。謝謝，斯特林。當我們審視雲業務時，我認為我們對我們在那裡的滲透進行了一些很好的披露，對我們來說，這仍然是一個新的機會。我們平台的美妙之處在於我們涵蓋了兩個非常重要的領域：一個是運行時保護；另一個是運行時保護。第二個是雲安全態勢管理。有些公司擁有其中之一。我們實際上兩者都有，並且它們集成在我們的 Falcon 控制平面中，這使得它非常有效。

We also have the ability to identify indicators of attack, which is much different than just misconfigurations. So when you combine those together and you think about containers and Kubernetes clusters, the configuration, whether they have vulnerabilities, whether it's just traditional virtualization and everything in between, we're covering a big part of the overall security stack of what people are looking for in that runtime protection visibility.

我們還能夠識別攻擊指標，這與錯誤配置有很大不同。因此，當您將這些結合在一起並考慮容器和 Kubernetes 集群、配置、它們是否存在漏洞、是否只是傳統虛擬化以及介於兩者之間的所有內容時，我們正在涵蓋人們正在尋找的整體安全堆棧的很大一部分在那個運行時保護可見性中。

So we still feel it's in the early innings. We've got great technology in both the agent side, if you will, and some of it is agent-less with Cloud Security Posture Management. But we make it very easy and effective for the DevOps teams -- that's who we're selling to in these areas, and we've gotten pretty good at it, to be able to implement this as part of the CICD pipeline.

所以我們仍然覺得它處於早期階段。如果您願意的話，我們在代理方面都擁有出色的技術，其中一些技術通過雲安全狀態管理實現了無代理。但是我們讓 DevOps 團隊變得非常簡單和有效——這就是我們在這些領域的銷售對象，我們已經做得很好，能夠將其作為 CICD 管道的一部分來實施。

Our next question comes from Andrew Nowinski of Wells Fargo.

我們的下一個問題來自富國銀行的 Andrew Nowinski。

Congrats on another amazing quarter, guys.

伙計們，恭喜又一個令人驚嘆的季度。

So in our last reseller survey, CrowdStrike had the top results. So I'm wondering if you're seeing any sort of inflection with resellers and channel partners. And similarly, I'm wondering if that CISA deal last quarter has maybe created an inflection within the U.S. federal market.

因此，在我們上次的經銷商調查中，CrowdStrike 獲得了最佳結果。所以我想知道你是否看到經銷商和渠道合作夥伴有任何變化。同樣，我想知道上個季度的 CISA 交易是否可能在美國聯邦市場內造成了影響。

Sure. So thanks. When you think about our partner opportunities and CrowdStrike, first, we're a partner-first company. That's the way I built it. We haven't wavered from that. And there's many areas of partnering, everything from traditional resellers to managed service providers to cloud providers and hyperscalers, like AWS, that I talked about earlier. So why have we been successful there? Well, we've taken the right approach to not compete with partners, to augment what they're trying to do. And what we've seen in the managed service world is that the managed service providers are looking for the best endpoint platform that they can plug in and offer other services.

當然。那謝謝啦。當您考慮我們的合作夥伴機會和 CrowdStrike 時，首先，我們是一家合作夥伴至上的公司。這就是我建造它的方式。我們並沒有因此而動搖。還有很多合作領域，從傳統經銷商到託管服務提供商，再到雲提供商和超大規模提供商，如我之前談到的 AWS。那麼為什麼我們在那裡取得了成功呢？好吧，我們採取了正確的方法來不與合作夥伴競爭，以增強他們正在嘗試做的事情。我們在託管服務領域看到的是，託管服務提供商正在尋找可以插入並提供其他服務的最佳端點平台。

I think we've figured out a way to complement the services that they have in those areas, and it's been very effective. And of course, customers want our technology so they're clamoring to these partners to work with us. So we will continue to do that, and I think we've put some great proof points out on our success in managed service, in the cloud providers as well as traditional resellers.

我認為我們已經找到了一種方法來補充他們在這些領域的服務，並且非常有效。當然，客戶需要我們的技術，所以他們要求這些合作夥伴與我們合作。所以我們將繼續這樣做，我認為我們已經為我們在託管服務、雲提供商以及傳統經銷商方面的成功提供了一些很好的證明。

And when we think about CISA, it's a fantastic validation for us in the Federal government. I've spent time in Washington, I was just there recently. And there's a lot of excitement about our technology finally being able to be deployed there. As you know, you have to go through a lot of different compliance and accreditations to get to sell in the Federal government, and we worked through those. We continue to work through those at different levels. And it opens up a massive opportunity for us, that we've seen a big pull from customers' interest in that particular vertical because of the aging technologies that they've been saddled with in the past. So more to come on that, but very excited about the opportunity today and in the future.

當我們想到 CISA 時，這對我們聯邦政府來說是一個極好的驗證。我在華盛頓待過一段時間，我最近才在那裡。我們的技術最終能夠在那裡部署，令人興奮不已。如您所知，您必須通過許多不同的合規和認證才能在聯邦政府進行銷售，我們通過了這些工作。我們將繼續通過不同級別的工作。它為我們打開了一個巨大的機會，我們已經看到客戶對這個特定垂直領域的興趣大大拉動，因為他們過去一直背負著老化的技術。所以還有更多的事情要做，但對今天和未來的機會感到非常興奮。

Our next question comes from Joel Fishbein of Truist.

我們的下一個問題來自 Truist 的 Joel Fishbein。

Congrats on a fantastic execution.

祝賀出色的執行力。

I have a quick question for George and a follow-up for Burt, if I could. George, you just GA-ed Falcon XDR module. I think there's a lot of noise in the space. Can you talk about Falcon XDR and how it's different than the other products that are out there and why it's important going forward?

如果可以的話，我有一個簡短的問題要問喬治，然後再問伯特。喬治，你只是 GA-ed Falcon XDR 模塊。我認為空間裡有很多噪音。您能否談談 Falcon XDR 以及它與現有的其他產品有何不同以及為什麼它對未來很重要？

Sure. When we think about XDR, it's more than just the marketing acronym. And what we've seen in the past is that organizations of all shapes and sizes, security companies have tried to just slap XDR on what they have that's legacy. And we don't think that's the right approach. We think you have to start with the best EDR in the market and then you extend that. We believe our EDR is the best, and we've been validated many times over in different places.

當然。當我們想到 XDR 時，它不僅僅是營銷的首字母縮寫詞。我們過去看到的是，各種形式和規模的組織、安全公司都試圖將 XDR 打在他們所擁有的遺產上。我們認為這不是正確的方法。我們認為您必須從市場上最好的 EDR 開始，然後再擴展它。我們相信我們的 EDR 是最好的，並且我們已經在不同的地方多次驗證。

And what we've been able to do is to leverage the very powerful, fast and efficient streaming engine of Humio. We just talked about the petabyte benchmarks, to be able to combine that with our Threat Graph, apply AI on top of it to get the best threat-detection outcome and response, leveraging our fusion technology.

而我們能夠做的是利用 Humio 非常強大、快速和高效的流媒體引擎。我們剛剛討論了 PB 基準，以便能夠將其與我們的威脅圖相結合，在其之上應用 AI 以獲得最佳威脅檢測結果和響應，利用我們的融合技術。

So we're still in the early days. Obviously, we just launched it. We're working with a lot of customers. We're adding more integrations around that. But we're really excited about that, and we believe that's really a technology that will subsume the SIM market. And we think we're in a perfect pole position to be able to capture it.

所以我們還處於早期階段。顯然，我們剛剛推出了它。我們正在與很多客戶合作。我們正在為此添加更多集成。但我們對此感到非常興奮，並且我們相信這確實是一項將涵蓋 SIM 市場的技術。而且我們認為我們處於能夠捕捉到它的完美杆位。

Our next question comes from Brent Thill of Jefferies.

我們的下一個問題來自 Jefferies 的 Brent Thill。

You have Joe on for Brent. And I really appreciate the additional disclosures.

你讓喬換布倫特。我真的很感激額外的披露。

Burt, unreal results and fantastic opening guide for revenue for fiscal '23. Maybe just walk us through the methodology. And has anything changed with how you would typically give an opening guidance? And then maybe to what extent do we expect the mix shift of revenue outside of core endpoint? And what were the inflationary impacts to revenue and OpEx for fiscal '23?

Burt，不真實的結果和出色的 23 財年收入開場指南。也許只是引導我們了解方法。你通常如何提供開場指導有什麼改變嗎？然後也許我們預計核心端點之外的收入組合轉移到什麼程度？通貨膨脹對 23 財年的收入和運營支出有何影響？

Joe, thanks for that. So in terms of our methodology, nothing has really changed. We guide to what we see. We do not guide to running the tables. So absolutely no change there. I think that the question about going and capturing some of the additional markets outside of core endpoint, I think we've given some good disclosures about some of our momentum. We don't see any of that momentum fading, and we are excited about both core and some of our emerging products.

喬，謝謝你。因此，就我們的方法而言，沒有什麼真正改變。我們引導我們所看到的。我們不指導運行表。所以那裡絕對沒有變化。我認為關於進入和捕捉核心端點之外的一些額外市場的問題，我認為我們已經對我們的一些動力進行了一些很好的披露。我們沒有看到這種勢頭減弱，我們對核心產品和我們的一些新興產品感到興奮。

And so when we think about it and when we look at our pipeline and we look at the opportunities in front of us, we get really excited about both opportunities. And then you drill down even a little further and we get excited about being able to sell both those opportunities to both the largest enterprise companies in the world all the way down to some of the smallest. So that's how we think about it.

因此，當我們考慮它並查看我們的管道並查看我們面前的機會時，我們對這兩個機會都感到非常興奮。然後你再深入一點，我們很高興能夠將這兩個機會出售給世界上最大的企業公司，一直到一些最小的企業。所以我們就是這麼想的。

Our next question comes from Matt Hedberg of RBC Capital Markets.

我們的下一個問題來自 RBC Capital Markets 的 Matt Hedberg。

Congrats. Lots of things to talk about here. I guess, Burt, for you, one of the things that really stood out to me was when we look at ending ARR per subscription customer that had declined sequentially for many quarters. In Q3, it was kind of flattish, maybe up a little bit. But Q4, according to my math, it was up about 3% sequentially, really, really strong. And I think, to me, that speaks to your cross-sell ability.

恭喜。這裡有很多話要說。我想，Burt，對你來說，真正讓我印象深刻的一件事是，當我們查看每個訂閱客戶的 ARR 結束時，該 ARR 在多個季度連續下降。在第三季度，它有點平淡，可能略有上升。但是第四季度，根據我的數學計算，它連續增長了約 3%，非常非常強勁。我認為，對我來說，這說明了你的交叉銷售能力。

I'm wondering, when you think about the guide for next year, what are some of the assumptions around ending ARR per subscription customer? Should that continue this kind of upward sequential trajectory at this point?

我想知道，當您考慮明年的指南時，關於結束每個訂閱客戶的 ARR 的一些假設是什麼？在這一點上是否應該繼續這種向上的連續軌跡？

Hey, Matt, so we really don't look at it that way, to be fair with you, because when you think about net new ARR, it could come from anywhere. It could come from new logos. It could come from our existing base. Our focus, as you know, has been and always will be net new ARR, wherever it comes from. So when we think about looking out into this year, we're doing the same thing from a compensation perspective with our sales team as we have done last year, meaning we're going to pay our sales team the same whether they bring in a net new logo or whether they bring it from an existing customer. So we pay on net new ARR. We don't care where it comes from.

嘿，馬特，所以我們真的不這麼看，公平地對待你，因為當你考慮淨新 ARR 時，它可能來自任何地方。它可能來自新的標誌。它可能來自我們現有的基地。如您所知，我們的重點一直是並將永遠是淨新 ARR，無論它來自何處。因此，當我們考慮展望今年時，從薪酬的角度來看，我們對銷售團隊的做法與去年一樣，這意味著我們將向銷售團隊支付相同的報酬，無論他們是否引進了淨新標誌或他們是否從現有客戶那裡帶來它。因此，我們支付淨新 ARR。我們不在乎它來自哪裡。

The great news is, of course, is that we have tremendous amount of headroom in both, right? Our expanding base really helps in terms of cross-sell for sure. But we still have a tremendous amount of headroom in terms of being able to go after new logos. And that's kind of a great position to be in. And it really talks to the fact that we think about CrowdStrike in the early innings of our journey with a lot of headroom to go. So hopefully, that makes sense to you.

當然，好消息是我們在這兩個方面都有巨大的空間，對吧？我們不斷擴大的基礎確實有助於交叉銷售。但是我們仍然有很大的空間來追求新的標誌。這是一個很好的位置。它確實說明了我們在旅程的早期考慮 CrowdStrike 的事實，還有很大的餘地。所以希望這對你有意義。

Our next question comes from Tal Liani of Bank of America.

我們的下一個問題來自美國銀行的 Tal Liani。

Great quarter. I want to ask about competition. And you have now, the last count I have is 24 modules. How is the landscape of competitors? How is it changing with the additional modules? And can you talk about the acceptance rates? Normally, you give out kind of how many -- what percentage of customers have -- subscription customers have more than 4, 5 and 6 modules. And I didn't hear it this quarter. Maybe I just didn't hear it.

很棒的季度。我想問一下競爭。你現在有，我最後的計數是 24 個模塊。競爭對手的格局如何？它如何隨著附加模塊的變化而變化？你能談談接受率嗎？通常，您會給出有多少——有多少客戶擁有——訂閱客戶擁有超過 4、5 和 6 個模塊。我本季度沒有聽到。也許我只是沒聽到。

So can you give an update on the acceptance rates of your modules and speak a little bit about the take rate of the new modules? And where do you see kind of -- how do you see it ramping versus historical trends, et cetera?

那麼，您能否更新一下您的模塊的接受率，並談談新模塊的接受率？你在哪裡看到 - 你如何看待它與歷史趨勢相比，等等？

Yes. Thanks, so George here. When we look at the competition, I think, this quarter we put a punctuation mark on the competitive point. When you see the growth, you see the cross-sell, you see some of the modules outside of just the core. We've never seen a better competitive environment for us. We're entering the quarter with the largest pipeline. We've got lots of replacements in the legacy world, lots of replacements in the next-gen world, and truly differentiated platform with our modules. We have 22, just to be clear.

是的。謝謝，所以喬治在這裡。當我們看比賽時，我認為本季度我們在比賽點上加上了標點符號。當您看到增長時，您會看到交叉銷售，您會看到核心之外的一些模塊。我們從未見過比我們更好的競爭環境。我們正在進入管道最大的季度。我們在傳統世界中有很多替代品，在下一代世界中有很多替代品，並且我們的模塊具有真正差異化的平台。為了清楚起見，我們有 22 個。

And when you look at what we put together in the endpoint and Workload Protection visibility space, combined with identity, which is very unique to us that others don't have, combine that with DataNow, with SecureCircle, it's a true platform that customers are looking to buy and understand that they can consolidate agents, reduce costs and get much better outcomes. And then you combine our world-class offerings like Falcon Complete and Overwatch on top of it, and it certainly is a winning combination.

當您查看我們在端點和工作負載保護可見性空間中組合的內容時，結合身份，這對我們來說非常獨特，其他人沒有希望購買並了解他們可以整合代理、降低成本並獲得更好的結果。然後，您將我們的世界級產品（如 Falcon Complete 和 Overwatch）結合起來，這無疑是一個成功的組合。

So full steam ahead from us on the competitive side, and we continue to out-innovate and build what we believe is the best platform in the industry.

因此，我們在競爭方面全力以赴，我們將繼續創新並建立我們認為是行業中最好的平台。

Burt, I'll let you take the module take rates.

伯特，我會讓你拿模塊費率。

Sure. I'll give them out again because they're -- we're very proud of them. So the percentage of customers with 4 or more modules is 69%, 5 or more modules is 57%, 6 or more modules is 34%. All of which are increases over last quarter.

當然。我會再次將它們分發出去，因為它們——我們為它們感到驕傲。因此擁有4個或更多模塊的客戶比例為69%，5個或更多模塊為57%，6個或更多模塊為34%。所有這些都比上一季度有所增加。

Our next question comes from Alex Henderson of Needham.

我們的下一個問題來自 Needham 的 Alex Henderson。

I've actually got a clarification and a question. The first one is a clarification. I mean you talked about a record pipeline. That's kind of a throwaway, considering your growth rate. I mean you're growing so fast, you have to have a record pipeline to keep the growth going. So I was wondering if you were to look at your pipeline relative to forward expected net new ARR, whether the ratio of your pipeline to the forward ARR is, in fact, a record as well.

我實際上有一個澄清和一個問題。第一個是澄清。我的意思是你談到了唱片管道。考慮到您的增長率，這有點浪費。我的意思是你的增長如此之快，你必須有一個創紀錄的管道來保持增長。所以我想知道你是否要查看你的管道相對於預期的淨新 ARR，你的管道與前向 ARR 的比率是否實際上也是一個記錄。

And then the question I have for you is really actually on a smaller piece of your business, but I think a very important one, which is the services business, which obviously did very well with the increase in revenue upsell. With Mandiant having been bought out here or announced to be bought out, they have been obviously one of the more successful companies in targeting events and coping with them. Does that open up a runway for you?

然後我對您的問題實際上實際上是您業務的一小部分，但我認為一個非常重要的業務，即服務業務，隨著收入追加銷售的增加，它顯然做得很好。隨著 Mandiant 在這裡被收購或宣布被收購，他們顯然是針對事件和應對事件的更成功的公司之一。這是否為您開闢了一條跑道？

It's my understanding that Google is planning on using that predominantly for internal products as opposed to what Mandiant has done in the past? So does that open up a new opportunity for you to expand that further and become the preeminent -- not that you're not already, but even more of a preeminent player in just security so you can get that upsell?

據我了解，谷歌正計劃將其主要用於內部產品，而不是 Mandiant 過去所做的？那麼這是否為您提供了進一步擴展並成為卓越的新機會 - 並不是說您還沒有，而是在安全方面更加卓越，因此您可以獲得追加銷售？

Hey, Alex, it's Burt. Thanks for your questions. I'll take the first clarification point, and then I'll pass it to George to talk about the Mandiant acquisition.

嘿，亞歷克斯，是伯特。感謝您的提問。我將首先澄清一點，然後我將把它傳遞給 George 談論收購 Mandiant 的事情。

So what we came out and said is that, obviously, that our pipe going into the year is the greatest pipe we've ever seen in company history. I think I'll leave it to everybody else and you on the call to kind of figure out what that means in terms of net new ARR. But generally, I think that -- combine that with the momentum that we've talked about in the business we feel really good about starting the year.

所以我們出來說的是，很明顯，我們進入今年的管道是我們在公司歷史上見過的最偉大的管道。我想我會把它留給其他人，你在電話中弄清楚這對淨新 ARR 意味著什麼。但總的來說，我認為 - 結合我們在業務中談到的勢頭，我們對今年開始感覺非常好。

And then I'll turn it over to George to -- for your second part of the question.

然後我將把它交給 George 來回答你問題的第二部分。

Yes. So thank you, Burt.

是的。所以謝謝你，伯特。

And first, I want to congratulate Kevin and the entire team. I've known and worked with Kevin many years at Foundstone, and they're a fantastic organization, one of the best in the business. And we have a lot of respect for them.

首先，我要祝賀凱文和整個團隊。我在 Foundstone 認識 Kevin 並與之共事多年，他們是一個了不起的組織，是業內最好的組織之一。我們非常尊重他們。

So we continue to work with them on partnering opportunities. We think it's a great opportunity, being part of Google, who is also another big partner of CrowdStrike. So I think both organizations make a lot of sense. You got world-class capabilities across the board. And we think our technology can be additive to the overall Mandiant solution, and we look forward to seeing how that progresses and continuing to partner with them. So overall, I think it's a positive net-net for all parties.

因此，我們將繼續與他們合作尋找合作機會。我們認為這是一個很好的機會，成為谷歌的一部分，谷歌也是 CrowdStrike 的另一個重要合作夥伴。所以我認為這兩個組織都很有意義。您擁有全面的世界級能力。我們認為我們的技術可以添加到整個 Mandiant 解決方案中，我們期待看到它如何取得進展並繼續與他們合作。所以總的來說，我認為這對各方來說都是一個積極的網絡。

Our next question comes from Fatima Boolani of Citi.

我們的下一個問題來自花旗的 Fatima Boolani。

Burt, I have just one for you. I look at your operating income guidance for fiscal '23 and it implies close to a 60% growth in operating income. And I look at that in comparison to kind of the 49% you've guided to the high end from a revenue standpoint. So what I wanted to ask you was, what are some of the contributing factors to your operating income growth outstripping your revenue growth? And what sort of considerations do you have in place vis-a-vis travel and expense levels reverting to sort of pre-COVID levels?

伯特，我只有一個給你。我查看了您對 23 財年的營業收入指導，這意味著營業收入將增長近 60%。我將其與您從收入角度引導至高端的 49% 進行比較。所以我想問你的是，有哪些因素導致你的營業收入增長超過了收入增長？對於旅行和費用水平恢復到 COVID 之前的水平，您有哪些考慮？

And frankly, some of the talent retention and talent acquisition costs and wage inflation that has maybe doubled some of your peers? Any thoughts around there? And how you've been able to buck that trend as contemplated in your guidance would be very helpful.

坦率地說，一些人才保留和人才獲取成本以及工資上漲可能會使您的一些同行翻倍？周圍有什麼想法嗎？並且您如何能夠按照您的指導中設想的那樣逆勢而上將非常有幫助。

Sure, Fatima. Thank you for your question. So first, let me just start off by saying when we take a look at the guide, we take a look at, of course, what we see, not necessarily what we don't see. Similar on the revenue side. And then we think about the power of our model. We've got a lot of leverage in our model. Unit economics is really strong, and it's pointing to one thing, which is continuing to invest aggressively, which we plan to do, and it's reflected in the guide.

當然，法蒂瑪。謝謝你的問題。所以首先，讓我先說當我們看指南時，我們看一看，當然，我們看到的，不一定是我們沒看到的。在收入方麵類似。然後我們考慮我們模型的力量。我們的模型有很多影響力。單位經濟學真的很強大，它指向一件事，那就是繼續積極投資，我們計劃這樣做，它反映在指南中。

I think there are a few things that really shape that guide, right? One is, I think, that we've seen a lot of tailwinds for us. We see momentum in the business, so scale. And how we think about the revenue guide really plays a big role in terms of how we think about our margin guide.

我認為有幾件事真正塑造了該指南，對吧？一個是，我認為，我們已經看到了很多順風。我們看到了業務的發展勢頭，所以要擴大規模。我們如何看待收入指南在我們如何看待我們的利潤指南方面確實發揮了重要作用。

But we do take into consideration things like inflation. We take into consideration what we're seeing out there in terms of talent. It is talent war that we're seeing on a day-to-day basis, not only for us but for others in the space. And we've got to differentiate ourselves from others to attract folks to come and join us. And we've done a really good job so far, but pedal to the metal in terms of hiring.

但我們確實考慮到了通貨膨脹等因素。我們會考慮我們在人才方面看到的情況。這是我們每天都看到的人才大戰，不僅對我們，而且對這個領域的其他人也是如此。我們必須將自己與其他人區分開來，以吸引人們來加入我們。到目前為止，我們做得非常好，但在招聘方面卻步履蹣跚。

And then your last piece of the question, with respect to travel, I think that it's going to be more than it was last year, knock on wood. Obviously, it's a result on how the pandemic plays out this year. But the idea is that we do plan on more travel. We want people to get together. We want people to collaborate. We want to go and visit customers, on the one hand.

然後你的最後一個問題，關於旅行，我認為它會比去年更多，敲木頭。顯然，這是今年大流行如何發展的結果。但我們的想法是我們確實計劃更多的旅行。我們希望人們聚在一起。我們希望人們合作。一方面，我們想去拜訪客戶。

On the other hand, I think every CFO out there is taking a look at what was done in the past and then how they think about the future and is looking for highest and best use of travel. And I'm no exception. So I'm going to take the opportunity to make sure that we've got all the controls in place to make sure that we are doing just that, making sure that we are looking at the highest and best use of our dollars for travel. And I think everybody will be appreciative of that. And I think that as a company, it just goes to continuing our story about being a really, really well-plated company in all aspects of the business, from tech to go-to market to finance. I hope that answers your question.

另一方面，我認為每一位首席財務官都在審視過去所做的事情，然後思考他們對未來的看法，並尋求最高和最佳的旅行利用方式。我也不例外。因此，我將藉此機會確保我們已採取所有控制措施，以確保我們正在這樣做，確保我們正在尋找最高和最佳的旅行資金用途。我認為每個人都會對此表示讚賞。而且我認為，作為一家公司，它只是繼續我們的故事，即在業務的各個方面，從技術到上市再到金融，它都是一家非常非常優秀的公司。我希望這能回答你的問題。

Our next question comes from Joshua Tilton of Wolfe Research.

我們的下一個問題來自 Wolfe Research 的 Joshua Tilton。

You spoke a lot in the prepared remarks about the success of the non-endpoint modules. Can you just comment on the demand environment as we enter the year, but more specifically compare and contrast the demand for endpoint modules versus the demand for the cloud security and identity modules? Where are you seeing the highest demand of those 3 categories? And how does that maybe compare to this time a year ago?

您在準備好的評論中談到了非端點模塊的成功。您能否就我們進入這一年的需求環境發表評論，更具體地說，比較和對比端點模塊的需求與雲安全和身份模塊的需求？您認為這 3 個類別中需求最高的地方在哪裡？這與一年前的這個時候相比如何？

When you look at the endpoint security modules and identity, there -- they go together. So we see broad-based demand on all sides. People are buying the endpoint security modules, primarily for 2 reasons. One, protection and visibility, which we give both. In order to enhance the protection, they the identity module, which makes sense, given that many of the breaches don't necessarily even use malware in today's environment.

當您查看端點安全模塊和身份時，它們就在一起了。因此，我們看到各方都有廣泛的需求。人們購買端點安全模塊，主要有兩個原因。一，保護和可見性，我們同時提供。為了加強保護，他們使用了身份模塊，這是有道理的，因為在當今的環境中，許多違規行為甚至不一定使用惡意軟件。

So we see them going together, and we see a great opportunity for many customers who have been with us for a long time who don't have identity because they -- that's a newer module, to be able to add identity to their existing platform. And again, there's not much that they have to do, other than activate it given the architecture that we've built.

所以我們看到他們一起走，我們看到許多長期與我們合作但沒有身份的客戶有很好的機會，因為他們 - 這是一個更新的模塊，能夠將身份添加到他們現有的平台.再說一次，除了根據我們構建的架構激活它之外，他們不需要做太多事情。

So -- and then when you look at some of the other modules just in general, vulnerability management has done exceptionally well. We've seen lots of vulnerabilities in the environment. Understanding the assets and their configurations and the hygiene is very important to protecting them. And then in a distributed world, which we have today, right, there is no perimeter. It's all systems wherever they may reside. They're going to need this level of protection visibility and ability to even understand their vulnerability.

所以——然後當您總體上查看其他一些模塊時，漏洞管理做得非常好。我們已經在環境中看到了很多漏洞。了解資產及其配置和衛生對於保護它們非常重要。然後在我們今天擁有的分佈式世界中，對，沒有邊界。它是所有系統，無論它們位於何處。他們將需要這種級別的保護可見性和了解其漏洞的能力。

So overall, we're pleased with the module growth outside of what we call just core endpoint protection, and we look forward to continued growth in those areas.

因此，總體而言，我們對我們所謂的核心端點保護之外的模塊增長感到滿意，我們期待這些領域的持續增長。

Our next question comes from Rob Owens of Piper Stanley (sic) [Sandler].

我們的下一個問題來自 Piper Stanley (sic) [Sandler] 的 Rob Owens。

I was wondering if you could touch on the critical infrastructure defense project that you recently announced. Just, I guess how it came about with these vendors, and more broadly, how underprotected are we in these verticals relative to next-generation technologies?

我想知道您能否談談您最近宣布的關鍵基礎設施防禦項目。只是，我猜想這些供應商是如何產生的，更廣泛地說，相對於下一代技術，我們在這些垂直領域的保護程度如何？

Yes, sure. Rob, we thought it was appropriate with some of our counterparts in the industry to see where we can help. And when you look at critical infrastructure and what the government is really concerned about, hospitals, pipelines, things of that nature, it's super important that they're protected. And there aren't whole bunch of enforced standards in some of these areas. And a lot of times, they're underprotected for a variety of reasons.

是的，當然。 Rob，我們認為與業內的一些同行一起看看我們可以在哪裡提供幫助是合適的。當你看到關鍵的基礎設施和政府真正關心的東西時，醫院、管道和類似的東西，它們受到保護是非常重要的。在其中一些領域並沒有一整套強制標準。很多時候，由於各種原因，它們沒有得到充分保護。

So we thought it was the right thing to do in terms of offering our technology out there for some period of time. And we think we're going to be able to hopefully move the needle at protection in places where it may have not have been as good. And then obviously, we'll look to see how that pans out from a business perspective. But first and foremost, we're just trying to do the right thing.

因此，我們認為在一段時間內提供我們的技術是正確的做法。而且我們認為我們將有希望將針頭移到可能沒有那麼好的地方進行保護。然後很明顯，我們將從商業角度來看看它是如何實現的。但首先，我們只是在努力做正確的事。

Our next question comes from Jonathan Ruykhaver.

我們的下一個問題來自 Jonathan Ruykhaver。

Congrats. I'm wondering if you could just provide some color on the free tiers, whether it be the Humio Community Edition. I think you've introduced some Fusion capabilities as well. Just curious how you're thinking about that sales motion. Is there an opportunity to introduce those free tiers more broadly going forward?

恭喜。我想知道您是否可以在免費層上提供一些顏色，無論是 Humio 社區版。我認為您也引入了一些 Fusion 功能。只是好奇你是如何看待這個銷售動議的。未來是否有機會更廣泛地引入這些免費等級？

Well, yes. So let's talk about Falcon Fusion for a bit, which is our SOAR capabilities. The beauty is it's built into the platform. There's -- you just get it if you're a Falcon customer, which has been extremely well loved by our customers. And the amount of automation that we've been able to achieve, we think, far outstrips what our competitors can do. And it ties into our XDR response strategy. And it's seamlessly built in. It wasn't an acquisition that we had to bolt on. So we're really happy with that. But other than making sure everybody knows we have it, there's not a lot of motion that we have to go into there. And it has been a differentiator for us.

嗯，是。所以讓我們稍微談談 Falcon Fusion，這是我們的 SOAR 能力。美妙之處在於它內置在平台中。有——如果您是 Falcon 客戶，您就可以得到它，我們的客戶非常喜歡它。我們認為，我們能夠實現的自動化程度遠遠超過我們的競爭對手。它與我們的 XDR 響應策略相關聯。它是無縫內置的。這不是我們必須進行的收購。所以我們對此感到非常高興。但是除了確保每個人都知道我們擁有它之外，我們不需要進行太多的動作。這對我們來說是一個差異化因素。

When we think about the Humio Community Edition, I think it goes to the heart of where we've been able to make some really good inroads in the DevOps world, both in cloud protection but as well as observability. We talked about some of the big wins with Humio. Some of them are not even security related. They're simply observability. The beauty of that technology is the ability to get data from just about any source and answering any question at scale.

當我們想到 Humio 社區版時，我認為它是我們能夠在 DevOps 世界中取得一些非常好的進展的核心，無論是在雲保護方面，還是在可觀察性方面。我們談到了 Humio 的一些重大勝利。其中一些甚至與安全無關。它們只是可觀察性。該技術的美妙之處在於能夠從幾乎任何來源獲取數據並大規模回答任何問題。

The Community Edition is very well received. We have people that are using it, and then obviously saying it's a great technology, we want to learn more, we want to think about licensing it. So we're still in the early innings on that, but it goes to the heart of our e-commerce efforts and our platform that we built out, which I think is candidly underappreciated in what we're able to do from a business perspective and the sales efficiency that it actually brings to CrowdStrike.

社區版非常受歡迎。我們有人在使用它，然後顯然說這是一項很棒的技術，我們想了解更多，我們想考慮許可它。因此，我們仍處於早期階段，但它涉及到我們電子商務工作的核心和我們建立的平台，我認為從商業角度來看，我們能夠做的事情被坦率地低估了以及它實際為 CrowdStrike 帶來的銷售效率。

Our next question comes from Ittai Kidron of Oppenheimer.

我們的下一個問題來自奧本海默的 Ittai Kidron。

Great quarter. Thanks for all the disclosures.

很棒的季度。感謝所有的披露。

I have a couple. George, first for you on the new modules. Clearly, you're making very good progress here. But can you tell us how much of the progress here is more upsell activity? Or do you have customers that actually land first with you in these solutions? And for you, Burt, great job on the operating margin side. I guess you're pretty much at your target operating margin range, so is it time to raise it finally?

我有一對。喬治，首先為您介紹新模塊。顯然，你在這裡取得了很好的進展。但是你能告訴我們這裡有多少進展是更多的追加銷售活動嗎？或者您是否有客戶在這些解決方案中首先與您合作？對你來說，伯特，在營業利潤方面做得很好。我猜你的營業利潤率目標已經差不多了，那麼最後是時候提高它了嗎？

All right. So I'll take the first part. When we think about how customers land, let's take a couple of examples. So cloud Workload Protection, Cloud Security Posture Management horizon. Absolutely, they can land there first before they put Falcon on any of their, what we'd call, traditional endpoints. And we see that all the time. Same with Humio.

好的。所以我會選擇第一部分。當我們考慮客戶如何登陸時，讓我們舉幾個例子。所以雲工作負載保護，雲安全態勢管理視野。當然，他們可以在將 Falcon 放在他們的任何傳統端點上之前先降落在那裡。我們一直看到這一點。與 Humio 相同。

When you think about something like identity, that becomes a driver for why they're calling us. They're looking at their existing solutions, saying, "Hey, we need a solution in the endpoint identity space. You guys are the only folks that have it. Come in and talk to us". And then traditionally, we will land with that amongst something else, right. Probably the endpoint detection or EDR. And the beauty, again, of our model is single agent collect data one time, all the modules become available. So once we get the agent on that system, everything else opens up to us from a module perspective.

當您考慮諸如身份之類的事情時，這將成為他們打電話給我們的驅動力。他們正在查看他們現有的解決方案，並說：“嘿，我們需要一個端點身份空間的解決方案。你們是唯一擁有它的人。進來和我們談談”。然後傳統上，我們將在其他東西中著陸，對吧。可能是端點檢測或 EDR。同樣，我們模型的優點是單個代理收集數據一次，所有模塊都可用。因此，一旦我們在該系統上安裝了代理，從模塊的角度來看，其他一切都對我們開放。

So there's different demand drivers. And then there are specific technologies, which are just natural for us to lead with and sell, and then be able to cross-sell in other place in their organization, like cloud Workload Protection and Cloud Security Posture Management. Burt?

所以有不同的需求驅動因素。然後是一些特定的技術，我們很自然地可以領導和銷售，然後能夠在他們組織的其他地方進行交叉銷售，例如雲工作負載保護和雲安全狀態管理。伯特?

Thanks, George. Thanks, Ittai, for the question.

謝謝，喬治。謝謝Ittai的問題。

So number one, really happy with our performance on the top and the bottom. I think that the guide really reflects what we really want to do this year, which is aggressively invest in the business. We've got this opportunity in front of us. We think there's a tremendous amount of demand. There's a tremendous, big opportunity for us, and we're going for it.

所以第一，對我們在頂部和底部的表現感到非常滿意。我認為該指南確實反映了我們今年真正想做的事情，即積極投資業務。這個機會擺在我們面前。我們認為需求量很大。對我們來說，這是一個巨大的、巨大的機會，我們正在努力爭取。

So I think that when we guided, we took all of that into consideration. And so I feel really good about where we are. And of course, our unit economics, the metrics that we look at are all driving that decision in terms of how we guide it, right? And that's the great thing about our business, right? It's well flighted, the model itself is open to leverage. And right now, we're going to use some of that leverage to go invest aggressively into the business.

所以我認為，當我們指導時，我們考慮了所有這些。所以我對我們所處的位置感覺非常好。當然，我們的單位經濟學，我們所關注的指標都在推動我們如何指導決策，對吧？這就是我們業務的偉大之處，對吧？它運行良好，模型本身可以利用。而現在，我們將利用其中的一些槓桿來積極投資於業務。

And our last question comes from Gregg Moskowitz of Mizuho.

我們的最後一個問題來自瑞穗的 Gregg Moskowitz。

I'll keep it to one, just in the interest of time. So you now have more than half of the Fortune 500 in total. And based on our numbers, you've added 77 of the Fortune 500 over the past 12 months. I mean both of these are just remarkable statistics. So I guess 2 things relating to this.

我會保留一個，只是為了時間。因此，您現在擁有財富 500 強中一半以上的企業。根據我們的數據，您在過去 12 個月中增加了 77 家財富 500 強企業。我的意思是這兩個都只是非凡的統計數據。所以我猜有兩件事與此有關。

First, as you look ahead to fiscal '23, how would you characterize your new customer pipeline, specifically at the larger enterprise level? And then how much runway is there for your current Fortune 500 customers to continue to expand with CrowdStrike?

首先，當您展望 23 財年時，您將如何描述您的新客戶管道，特別是在更大的企業層面？那麼，您目前的財富 500 強客戶有多少跑道可以通過 CrowdStrike 繼續擴展？

Great. Well, we still see a big runway of customers -- potential customers in the Fortune 500 that aren't on CrowdStrike. We've seen, obviously, a lot of interest there. And I think enterprise customers understand if they're looking for the best protection at scale with the manageability, CrowdStrike is the technology of choice. And we've built our gold standard reputation in that arena. So that's what I would say there.

偉大的。好吧，我們仍然看到大量客戶——財富 500 強中不在 CrowdStrike 上的潛在客戶。顯然，我們已經看到了那裡的很多興趣。而且我認為企業客戶了解他們是否正在尋找具有可管理性的大規模最佳保護，CrowdStrike 是首選技術。我們已經在該領域建立了我們的黃金標準聲譽。這就是我要說的。

Burt, anything else to add? I know we're short on time.

伯特，還有什麼要補充的嗎？我知道我們的時間不多了。

Yes. It's a great question. I think right now, Gregg, look, we're really happy that we have over 50% of those Fortune 500. We've got a whole bunch more to go. And when George thinks about -- and George and I think about the rest of our potential business were looking forward, again, tremendous success in enterprise. That's where George flighted the business, and that's where we started. And we're going to continue to, I think, see lots of opportunities come our way, and then going down market, right?

是的。這是一個很好的問題。我想現在，格雷格，看，我們真的很高興我們擁有超過 50% 的財富 500 強企業。我們還有很多事情要做。當喬治想到——喬治和我想到我們的其他潛在業務再次期待在企業中取得巨大成功時。這就是喬治開展業務的地方，也是我們開始的地方。我認為，我們將繼續看到很多機會出現在我們面前，然後走低市場，對嗎？

I think we've had a lot of success in being able to build the technology, the same agent for both a company that has 1 million endpoints versus one that has 5 million. That's really hard to do. And so we've got -- the beauty of where we are right now is we have over 16,000 subscription customers. Those are all open to cross-sell and upsell. And then we've got this tremendous amount of new logos to be able to go after, whether it's an enterprise, mid-market or SMB. And that's the beauty of where we are. And that's why we're -- you're hearing the excitement in our voices.

我認為我們在構建技術方面取得了很大的成功，對於擁有 100 萬個端點的公司和擁有 500 萬個端點的公司來說，相同的代理。這真的很難做到。因此，我們現在擁有超過 16,000 名訂閱客戶。這些都可以進行交叉銷售和追加銷售。然後我們有大量的新標誌可以追隨，無論是企業、中型市場還是中小型企業。這就是我們所處的美麗。這就是為什麼我們 - 你聽到我們聲音中的興奮。

And now, I'll turn it back over to the moderator.

現在，我將把它交還給版主。

Thank you. I'd like to -- I'm showing no further questions. I'd like to turn the call back over to Mr. Kurtz for any closing remarks.

謝謝你。我想 - 我沒有再提出任何問題。我想將電話轉回給 Kurtz 先生，以聽取任何結束語。

Okay. Well, thank you so much. We appreciate everyone's time and attention. And we wish the best. Everyone, stay healthy, and we look forward to seeing you next quarter. Thanks so much.

好的。嗯，非常感謝。我們感謝大家的時間和關注。我們祝愿一切順利。大家保持健康，我們期待下個季度再見。非常感謝。

Thank you. Ladies and gentlemen, this does conclude today's conference. Thank you all for participating. You may now disconnect. Have a great day.

謝謝你。女士們，先生們，今天的會議到此結束。謝謝大家的參與。您現在可以斷開連接。祝你有美好的一天。