CrowdStrike Q3 Earnings: Closer Look at Net New ARR

With the actual net new ARR of $198 million reported, this drops the net new ARR at negative sequential growth of negative (9%) down from $218 million last quarter. This marks a change compared to the comp of 13% in sequential growth from Q2 2022 to Q3 2022. The market is nervous with cloud becoming the other shoe to drop as enterprise budgets will slow long after consumer slows due to annual billing cycles, annual budget reviews (i.e., likely to produce budget cuts) and due to higher switching costs (or in cloud’s case, slower to switch off than consumer or ad spending, for example).

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