Up 70% today.
Going through the S-1 more thoroughly and will be adding comments to this...
Love how the S-1 starts off
"We don't have a mission statement"
New category: Security cloud
Falcon Platform:
1) Lightweight agent
2) Threat Graph
Lightweight agent sends data to the cloud where the Threat Graph analyzes it.
More data = more powerful #networkeffect
Big question: How unique/difficult to replicate is this architecture?
More than 5x increase in customers in 2 years
2017: 450
2019: 2,516
Dollar-based net retention rate is accelerating
2017: 104%
2019: 147%
The company is expanding the number of endpoints and cross-selling within its 10 cloud modules.
FICO appealed the trademark Crowdstrike Falcon because it has a FICO Falcon offering.
Very impressively, the company has limited dollar-based churn while increasing the net retention rate.
47% of customers have adopted at least 4 of the 10 cloud modules.
Interesting move down-market.
Curious as to why. Shorter sales cycles, too tough to break into enterprise?
*This is likely why the expansion rate has accelerated. Smaller upfront purchases, move to a land/expand.
Three drivers of revenue
1) Subscription customers
2) # of endpoints
3) # of cloud modules adopted
If it is good enough for AWS....
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