I've got no problem with the management reward in terms of option grants and the resulting dilution if they keep putting up FCF/share growth like that. In fact, I'd rather that than cash bonuses. It shows that they're all in!
Really interesting to see how CrowdStrike jumped from #15 to #1 in revenue multiple ranking in just 12 months. The combination of 30% revenue growth + 35% FCF margins is exceptional and rare in software. What's particularly impresive is how they've managed to maintain such strong S&M efficiency while scaling - most companies see that degrade as they grow larger. The FCF per share growth chart really tells the story - this is what sustainable value creation looks like when you can outpace dilution with actual profit growth. Great analysis!
I've got no problem with the management reward in terms of option grants and the resulting dilution if they keep putting up FCF/share growth like that. In fact, I'd rather that than cash bonuses. It shows that they're all in!
Really interesting to see how CrowdStrike jumped from #15 to #1 in revenue multiple ranking in just 12 months. The combination of 30% revenue growth + 35% FCF margins is exceptional and rare in software. What's particularly impresive is how they've managed to maintain such strong S&M efficiency while scaling - most companies see that degrade as they grow larger. The FCF per share growth chart really tells the story - this is what sustainable value creation looks like when you can outpace dilution with actual profit growth. Great analysis!