CrowdStrike joins S&P 500 with record USD $3 billion ARR

CrowdStrike has been included in the S&P 500 Index, becoming the fastest cybersecurity company to achieve this milestone. The company's addition to the index reflects its established track record of industry leadership and innovation, particularly in the realm of artificial intelligence (AI) and cybersecurity.

In the third quarter of fiscal year 2024, CrowdStrike reported over USD $3 billion in Annual Recurring Revenue (ARR). This makes CrowdStrike the fastest and only pureplay cybersecurity software vendor in history to reach this milestone. In its most recent quarter, the company delivered a record ending ARR of USD $3.65 billion, marking a 33% increase year-over-year.

George Kurtz, CEO and Founder of CrowdStrike, expressed pride in the company's journey and future outlook. "We founded CrowdStrike on the belief that the future of security would be driven by AI and a cloud-native architecture that could collect data at scale," Kurtz stated. "We built the first cybersecurity platform, born in the cloud, AI-native, with a single, intelligent sensor that forever changed what organisations expect from modern security."

According to the company, CrowdStrike's Falcon platform leverages real-time indicators of attack, threat intelligence, and evolving adversary tradecraft to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting, and prioritised observability of vulnerabilities. The platform is designed to offer rapid and scalable deployment and superior protection with reduced complexity, underscoring the advantages of a cloud-native security solution.

Marc Benioff, Chair and CEO of Salesforce, commended CrowdStrike's achievements, drawing a parallel between the two companies' impacts on their respective fields. "Just as Salesforce created the SaaS model that revolutionised business operations, CrowdStrike has transformed how cybersecurity is delivered and experienced," Benioff remarked. "CrowdStrike is a critical cybersecurity partner, allowing us to consolidate multiple products on the Falcon platform."

Matt Garman, CEO of AWS, also lauded CrowdStrike for its inclusion in the S&P 500. "CrowdStrike's inclusion in the S&P 500 is a well-deserved milestone that underscores their pioneering work in cybersecurity," Garman said. "CrowdStrike is a trusted AWS customer and partner, and we have a long history of working together to secure sensitive data and workloads for the world's most innovative and highly regulated organisations, from startups to enterprises to governments."

Toto Wolff, Team Principal and CEO of Mercedes-AMG Petronas Formula One Team, praised the speed and reliability of CrowdStrike's Falcon platform. "In car production and motorsport, speed, quality, and consistency are key to success. Working closely with George Kurtz and the CrowdStrike team, I couldn't be prouder of the cybersecurity outcomes they deliver," Wolff commented. "Stopping breaches requires extreme speed, and that's exactly what the AI-native Falcon platform delivers."

CrowdStrike's ascent in the cybersecurity industry has been marked by its innovative approach and consistent growth. As the company integrates further into the S&P 500 Index, it continues to underscore its position as a leader in transforming modern security paradigms through advanced AI-driven solutions.