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1Scan for outdated or missing drivers - takes under a minute2Clear out junk files and repair common Windows errors3Fix the driver behind crashes, sound loss and screen glitchesIn CrowdStrike’s FY2024 second quarter, which ended July 31, 2023, the company reported rapid growth in identity protection, cloud security and Falcon LogScale. Those figures describe that historical quarter—not current performance—and were reported by CRN from CEO George Kurtz’s remarks on the earnings call.
What CrowdStrike reported in FY2024 Q2
CRN’s August 30, 2023 report said CrowdStrike’s overall fiscal second-quarter revenue was $731.6 million, up 37% year over year. The company highlighted three expanding product areas: identity protection, cloud security and Falcon LogScale.
| Product area | Reported result for FY2024 Q2 | What the figure describes |
|---|---|---|
| Identity protection | More than $200 million in annual recurring revenue (ARR), up 194% year over year | CrowdStrike’s identity-protection business, according to CEO George Kurtz as reported by CRN |
| Cloud security | Net new ARR growth rose 70% quarter over quarter, reaching a quarterly record | Quarterly net new ARR growth, according to Kurtz as reported by CRN |
| Falcon modules in public clouds | $296 million in ARR, up 70% year over year | ARR from Falcon modules deployed in public cloud environments, according to Kurtz as reported by CRN |
| Falcon LogScale | Customer adoption expanded 3X and ARR grew 200% year over year | Growth figures attributed to Kurtz by CRN; the report does not specify the comparison base for the adoption multiple |
| Partner-sourced customers | 64% of new enterprise and SMB customers | Customers sourced from partners during the quarter, according to Kurtz as reported by CRN |
ARR is a measure of the annualized value of recurring revenue at a point in time; it is not the same as revenue recognized during that quarter. The reported cloud-security net-new ARR growth and public-cloud-module ARR are distinct measures and should not be treated as interchangeable.
Why identity protection was drawing attention
Identity protection addresses threats that use compromised or otherwise legitimate accounts to gain access. CrowdStrike’s 2023 Threat Hunting Report found that 62% of interactive intrusions included some abuse of valid, legitimate accounts. It also reported that Kerberoasting intrusions increased nearly sixfold year over year. CRN cited those findings in its 2023 coverage.
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These threat figures help explain the business rationale for investing in identity defenses: attackers can operate through real credentials rather than relying only on malware or other obvious indicators. Adam Meyers, CrowdStrike’s head of Counter Adversary Operations, said that for many businesses, “identity threats are No. 1,” according to CRN.
How cloud security fits into the growth story
CrowdStrike reported both a quarterly record in net new cloud-security ARR growth and $296 million in ARR for Falcon modules deployed in public cloud environments. The first figure concerns the pace of net new recurring business in the quarter; the second is an ARR total for modules used in public clouds. Together they indicate reported commercial momentum, but they do not establish how well the products perform against competitors or how much security risk they reduce.
What Falcon LogScale is—and what the reported growth means
Falcon LogScale is CrowdStrike’s log-management and security-event analysis offering, positioned within its broader Falcon security platform. CRN reported that adoption expanded 3X and ARR rose 200% year over year in FY2024 Q2. Kurtz said LogScale was approaching $100 million in ARR and expected it to reach that milestone in Q3. That was a forecast at the time, not confirmation that the milestone was subsequently achieved.
The platform and partner strategy
CrowdStrike presented identity protection, cloud security and LogScale as substantial, connected businesses rather than isolated products. Kurtz called them “high-growth, sizable businesses” and “seamlessly integrated components of the Falcon platform,” adding that each was an example of an “IPO-worthy” company in its own right.
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The company also emphasized an open XDR approach: its platform can ingest first- and third-party data to correlate threats across tools. Kurtz described the platform’s ability to take in that data as making it “quickly becoming the enterprise data destination,” in the words quoted by CRN. This is CrowdStrike’s positioning, not independent proof of superior integrations or security outcomes.
Channel partners were part of the reported go-to-market picture. Kurtz said partners sourced 64% of new enterprise and SMB customers during the quarter. CRN named Pax8 and Optiv in its discussion of partner activity. The figure is specific to that quarter and does not establish the share of partner-sourced customers in later periods.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What these figures do—and do not—show
The numbers indicate that CrowdStrike reported strong growth across several product areas in FY2024 Q2. They do not provide an independent product evaluation, customer satisfaction results, pricing comparison, or evidence that one product reduced incidents more effectively than another. CRN’s coverage summarized company results and executive comments; it was not an independent audit of product performance.
For a buyer assessing these offerings, the relevant questions differ by use case: whether the priority is identity-based attacks, protection for cloud workloads, or security-event data management; how each product fits with existing tools and data sources; and what implementation and operational work is required. The historical growth figures alone cannot answer those questions or establish current product packaging, pricing or performance.
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