CrowdStrike hits $1 billion sales milestone with SHI

Published 19/12/2024, 12:06 am
© Reuters
CRWD
-

AUSTIN - CrowdStrike (NASDAQ: CRWD), a leader in cloud-native cybersecurity with a market capitalization of $92.72 billion, has announced surpassing $1 billion in sales with SHI International, marking a significant achievement as the first and fastest pure play Software (ETR:SOWGn) as a Service (SaaS) cybersecurity vendor to reach this milestone. This partnership demonstrates the increasing market demand for AI-powered cybersecurity solutions and platform consolidation. According to InvestingPro data, CrowdStrike maintains an impressive 75.24% gross profit margin and has achieved 31.35% revenue growth over the last twelve months.

The collaboration between CrowdStrike and SHI International, a provider of technology solutions, has been pivotal in delivering the CrowdStrike Falcon platform to organizations worldwide. The platform's AI-native capabilities have been instrumental in helping businesses consolidate their cybersecurity tools, streamline operations, and enhance overall security outcomes. InvestingPro analysis indicates the company's strong financial health, with liquid assets exceeding short-term obligations and a moderate debt level. Subscribers can access 12+ additional ProTips and comprehensive financial metrics through the Pro Research Report.

Over the past three years, SHI has contributed to over 70 percent of CrowdStrike's all-time revenue, emphasizing the market's push towards the Falcon platform. SHI's strategy of acquiring new accounts and cross-selling Falcon's various modules has maximized return on investment and encouraged vendor consolidation.

Thai Lee, CEO and President of SHI, emphasized the company's commitment to empowering customers to address security challenges effectively. George Kurtz, CEO and founder of CrowdStrike, acknowledged the partnership's success in achieving the $1 billion sales figure, highlighting SHI's global impact on cybersecurity transformation.

CrowdStrike's recognition of SHI's efforts includes multiple awards in 2024, such as Global Solution Provider of the Year, Americas Solution Provider of the Year, and Public Sector Partner of the Year. These accolades underscore SHI's role in expanding CrowdStrike's market presence and customer base across various industries and regions.

CrowdStrike's Falcon platform is renowned for its cloud-native architecture, leveraging AI and real-time indicators to provide advanced threat detection, automated protection, and prioritized vulnerability observability. The platform's single-agent design ensures rapid deployment, superior performance, and immediate value.

This partnership's milestone is based on a press release statement and reflects the growing trend of companies seeking integrated, AI-driven cybersecurity solutions on a global scale. Trading near its 52-week high of $398.33, CrowdStrike appears overvalued according to InvestingPro Fair Value calculations, though analysts maintain positive growth expectations for the coming year. For detailed valuation analysis and future growth projections, investors can access the comprehensive Pro Research Report, available for 1,400+ top US stocks.

In other recent news, CrowdStrike Holdings (NASDAQ:CRWD) has undergone significant changes in its stock structure. The cybersecurity company converted all outstanding Class B shares into Class A shares, which led to the retirement of Class B Common Stock. This change has altered the voting power landscape of CrowdStrike's shareholders. In terms of financial performance, CrowdStrike has reported impressive revenue growth of 31.35%.

Several analyst firms have reviewed CrowdStrike following strong third-quarter results. Mizuho (NYSE:MFG) Securities maintained an Outperform rating and raised the price target to $385. KeyBanc reiterated an Overweight rating with a $395 target, and TD Cowen reaffirmed a Buy rating, setting a $380 target. Needham also raised its price target to $420.

CrowdStrike's CFO, Burt Podbere, highlighted the success of the company's Falcon Flex (NASDAQ:FLEX) program, showing confidence in CrowdStrike's ability to recover and strengthen following a significant IT outage. The company's expansion beyond traditional endpoint security markets was also recognized as particularly successful, supported by an impressive gross profit margin of 75.24%. These are recent developments that reflect the ongoing activities within CrowdStrike Holdings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.