CrowdStrike

CrowdStrike sells cybersecurity through its cloud platform, Falcon. Customers install one small software agent on computers, servers and cloud workloads, and then add modules for endpoint protection, cloud security, identity protection, security data and logs (SIEM), AI security and managed services. With Falcon Flex, customers buy credits and use them on any module. Customers pay by subscription, and ending annual recurring revenue (ARR) was $5.84 billion at July 31, 2026.

Revenue was $4.81 billion in fiscal 2026, which ended on January 31, 2026. The company is based in Austin, Texas. It made a four-for-one stock split on July 1, 2026.

CrowdStrike trades at a premium because investors pay for many years of fast subscription growth with rising cash flow. In Q2 fiscal 2027, revenue grew 26% to $1.47 billion, net new ARR was a record $332.8 million, and ending ARR grew 25% to $5.84 billion. Falcon Flex ending ARR passed $2.29 billion, and management raised its outlook for net new ARR growth in fiscal 2027 to 34% at the midpoint. The company has a goal of $20 billion of ending ARR.

But GAAP net income was only $5.3 million in the quarter, because stock-based compensation was $372.3 million. For the premium to be earned, three things must be true. Net new ARR must grow as the raised outlook says, so that ARR growth stays above 20% for several years. Free cash flow must grow faster than stock-based compensation, so that GAAP profit becomes large.

New products for AI security, identity and SIEM must win against large platform companies. The Q3 fiscal 2027 report on December 1, 2026 is the next test, and the Q4 report in early March 2027 gives the first fiscal 2028 guidance. The premium can shrink if net new ARR slows, if security tools from larger companies take share, or if dilution from stock-based pay stays high.

1. Dec 1, 2026Pending

   Q3 fiscal 2027 results: net new ARRRevenue of at least $1,523.2 million, ending ARR of at least $6,184.4 million and higher net new ARR than a year earlier pass; ARR below the guidance or a lower fiscal 2027 outlook fail.
2. Mar 2027 · est.Pending

   Q4 fiscal 2027 results and fiscal 2028 guidanceFiscal 2028 guidance for revenue growth above 20% with higher free cash flow pass; guidance for growth well below 20% fails.

Every passed and failed checkpoint across all picks

• August 26, 2026CrowdStrike reported Q2 fiscal 2027 results. Revenue grew 26% to $1.47 billion, ending ARR grew 25% to $5.84 billion and net new ARR was a record $332.8 million. GAAP net income was $5.3 million, or $0.01 per share, and non-GAAP EPS was $0.31. Free cash flow was $377.4 million. CrowdStrike raised its fiscal 2027 guidance to revenue of $5,991.1 million to $6,011.1 million and non-GAAP EPS of $1.25 to $1.26, and it raised its outlook for net new ARR growth to 34% at the midpoint.
• July 16, 2026CrowdStrike agreed to buy the intellectual property of XM Cyber, with more than 45 patents and its source code, but no revenue or customers. The 10-Q gives consideration of $145.0 million in cash and shares plus more shares at closing, which is expected in the second half of fiscal 2027. CrowdStrike also expanded its partnership with Schwarz Digits to run Falcon on a sovereign cloud in the European Union.
• July 1, 2026CrowdStrike completed a four-for-one stock split. Holders of record on June 25, 2026 received three more shares for each share, and the shares traded on a split-adjusted basis from July 2, 2026.

Last earnings

August 26, 2026 (8-K on sec.gov)

Next earnings

December 1, 2026, as the company confirmed.

• 10-QQuarterly report for the period ended Jul 31, 2026Filed August 27, 2026 · crwd-20260731
• 8-KEarnings releaseFiled August 26, 2026 · crwd-20260826
• 8-KChange to shareholder rights or bylaws and Shareholder vote resultsFiled June 22, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Apr 30, 2026Filed June 4, 2026 · crwd-20260430
• 8-KEarnings release and Other company newsFiled June 3, 2026 · crwd-20260603
• 8-KChange of directors or officers and Investor disclosureFiled April 21, 2026 · crwd-20260416
• 8-KOther company newsFiled April 6, 2026 · crwd-20260406
• 10-KAnnual report for the period ended Jan 31, 2026Filed March 5, 2026 · crwd-20260131
• 8-KEarnings releaseFiled March 3, 2026 · crwd-20260303
• 8-KChange of directors or officers and Investor disclosureFiled December 29, 2025 · Read it on sec.gov

Every filing on SEC EDGAR (CIK 1535527)

• The price depends on many years of fast growth. If net new ARR slows, revenue growth and the value of the shares can fall quickly.
• Large technology companies sell security together with their cloud, operating system and AI products, and other security companies sell full platforms. Strong rivals can lower prices and take customers.
• Stock-based compensation was $674.6 million in the first six months of fiscal 2027. It dilutes shareholders and keeps GAAP profit low.
• Lawsuits and inquiries about the July 19, 2024 incident, when a faulty Falcon update stopped many Windows computers, are still open. Losses or a new incident can hurt trust and results.
• CrowdStrike paid $881.4 million for acquisitions in the first six months of fiscal 2027. New products from these purchases must work well together with the Falcon platform.

CrowdStrike has net cash. At July 31, 2026, cash and cash equivalents were $5.01 billion, and debt was $750.0 million of 3.00% senior notes due February 2029, with a carrying value of $746.2 million. Read more

CrowdStrike does not pay a dividend.

Source: company filings and market data, read on November 9, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.