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Crowdstrike promises compensation for customers who remain after the global outage. In addition to flexible contracts, loans of around 60 million US dollars will also be granted. Security
Crowdstrike promises compensation for customers who remain after the global outage. In addition to flexible contracts, loans of around 60 million US dollars will also be granted.
Security company Crowdstrike released its first quarterly report since the global outage that brought down more than 8.5 million Windows PCs in one fell swoop. The disruption is noticeable: Crowdstrike has adjusted its profit expectations by $86 million to $109 million. Nevertheless, Crowdstrike remains on track to reach its annual target of $4 billion.
The reason for the adjusted expectations is the cost that Crowdstrike charges for “customer retention packages.” The company recognizes that after its blunder, it needs to pay special attention to customers in order to stay on board. Crowdstrike is rewarding customers who stay loyal to the company with free credits and paying $60 million out of its own pocket.
The incident did not lead to a loss of customers, emphasizes CEO George Kurtz. Crowdstrike boasts a retention rate of 98 percent. “They want to buy more from us,” says Kurtz. At the same time, the company also admits that customers go through a more extensive approval process before signing up. Crowdstrike tries to reassure customers with particularly flexible contracts and payments.
Crowdstrike’s quarterly report was surprisingly met with applause at the trade fair. Investors have long since forgotten the events of July 19 and are once again taking stock of the company. The price rose by a few percent, and this at a time when the quarterly reports of even the most successful technology companies provoked a negative reaction from investors.
Crowdstrike is slowly but surely crawling out of the valley, but a legal tail is still hanging over the company. One affected customer, Delta Airlines, does not seem to be interested in the free credits. The American airline claims to have suffered damages of at least 500 million US dollars due to the disruption.
According to Crowdstrike, the contract with Delta includes limited liability of up to $10 million, so it is unlikely that Delta will have to hope for more money from Crowdstrike if it signed up for it. The total damage from the outage would be more than five billion dollars worldwide.
Source: IT Daily
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