AUSTIN – CrowdStrike (NASDAQ: CRWD), a leader in cloud-based cybersecurity with a market capitalization of $92.72 billion, announced that it has surpassed $1 billion in sales with SHI International. This makes CrowdStrike the first and fastest pure software-as-a-service (SaaS) cybersecurity provider to reach this milestone. This partnership highlights the growing market demand for AI-powered cybersecurity solutions and security platform consolidation. According to data from InvestingPro, CrowdStrike has an impressive gross margin of 75.24% and has seen revenue growth of 31.35% over the last twelve months.
The collaboration between CrowdStrike and SHI International, a technology solutions provider, has been critical to the global deployment of the CrowdStrike Falcon platform. The platform's AI-based capabilities have significantly helped companies consolidate their cybersecurity tools, optimize operations and improve overall security. An analysis by InvestingPro shows the company's solid financial position, with liquid assets exceeding short-term liabilities and the debt ratio is moderate. Subscribers can access over 12 additional ProTips and comprehensive financial metrics through the Pro Research Report.
Over the past three years, SHI has contributed to more than 70 percent of CrowdStrike's total revenue, underscoring the market evolution toward the Falcon platform. SHI's strategy of acquiring new customers and cross-selling various Falcon modules has maximized return on investment and encouraged consolidation with one vendor.
Thai Lee, CEO and President of SHI, emphasized the company's commitment to helping customers effectively address security challenges. George Kurtz, CEO and founder of CrowdStrike, recognized the partnership's success in reaching the $1 billion revenue mark and highlighted SHI's global impact on cybersecurity transformation.
CrowdStrike recognized SHIs with multiple awards in 2024, including Global Solution Provider of the Year, Americas Solution Provider of the Year and Public Sector Partner of the Year. These recognitions highlight SHI's role in expanding CrowdStrike's market presence and customer base across diverse industries and regions.
CrowdStrike's Falcon platform is known for its cloud-native architecture that leverages AI and real-time indicators to provide advanced threat detection, automated protection and prioritized vulnerability monitoring. The platform's single-agent design ensures rapid deployment, superior performance and immediate value.
This partnership milestone, based on a press release, reflects the growing trend of organizations worldwide seeking integrated, AI-driven cybersecurity solutions. CrowdStrike is trading near its 52-week high of $398.33 and appears overvalued, according to InvestingPro fair value calculations, although analysts maintain positive growth expectations for the coming year. For detailed valuation analysis and future growth forecasts, investors can access the comprehensive Pro Research Report, available for over 1,400 top US stocks.
In other recent news, CrowdStrike Holdings (NASDAQ:) has made significant changes to its share structure. The cybersecurity company converted all outstanding Class B shares to Class A shares, resulting in the delisting of Class B common stock. This change changed the voting power of CrowdStrike shareholders. In terms of financial performance, CrowdStrike reported an impressive revenue growth of 31.35%.
Multiple analyst firms have rated CrowdStrike following strong third-quarter results. Mizuho Securities gave it an Outperform rating and raised its price target to $385. KeyBanc reiterated an Overweight rating with a target of $395, and TD Cowen affirmed a Buy rating with a target of $380. Needham also raised its price target to $420.
CrowdStrike CFO, Burt Podbere, highlighted the success of the company's Falcon Flex program and expressed 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 margin of 75.24%. These are recent developments that reflect ongoing activities within CrowdStrike Holdings.
This translation was created using artificial intelligence. For further information, please see our Terms of Use.
