revenue
1523–1529 $million
Q3 2027
official guidance
CROWDSTRIKE HOLDINGS, INC.
Last · NasdaqGS$242.74-6.55 (-2.63%)live · yahoo · 35m ago
Market cap$248.55B1.02B sh
P/E · TTM4855fwd 151 · eps 0.05
Beta1.20vs S&P 500
Div yield0.00%annual · TTM
52w range
$85.68$286.99
Volume1.5Msession
| Revenue | $5.4B |
|---|---|
| Operating income | $-119.5M |
| Net income | $58.5M |
| Free cash flow | $1.6B |
| Operating margin | -2.2% |
| Net margin | 1.1% |
| Return on equity | 1.1% |
| Period | TTM 2026-07-31 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
Acceleration is broad-based and guidance was materially raised, though AIDR monetization and competitive durability still require proof.
Buy: CrowdStrike delivered an exceptional quarter, with $333 million of net new ARR (+51%), $5.84 billion of ending ARR (+25%), 26% revenue growth, and 26% free-cash-flow margin.
The FY27 net-new ARR outlook rose to $1.350-$1.359 billion and revenue guidance to $5.991-$6.011 billion, validating strong platform consolidation and AI-security demand; the main tension is that the highest-growth AIDR opportunity remains largely unquantified while frontier-model vendors could eventually build competing security layers.
Themes
- Ai Security
- Aidr
- Falcon Flex
- Next Gen Siem
- Endpoint Security
- Platform Consolidation
Near term
Record Q3 pipeline and raised Q3 outlook imply continued near-term ARR acceleration, with Q3 revenue guided to $1.523-$1.529 billion and net new ARR to $343-$347 million.
Falcon 2026 product launches could provide evidence that AIDR is incremental to EDR and clarify its pricing, attach rates, and revenue potential.
Falcon Flex execution remains a near-term catalyst: 935 new Flex accounts were added, with more than 40% average ARR uplift on standard-to-Flex conversions.
Longer term
Platform consolidation is gaining traction across endpoint, SIEM, identity, cloud, and exposure management; module adoption reached 51%, 35%, and 26% for customers adopting six, seven, and eight or more modules, respectively.
AIDR ending ARR nearly tripled sequentially, while Identity ARR reached $585 million (+34%), Cloud Security ARR reached $905 million (+29%), and Next-Gen SIEM ARR exceeded $695 million.
Falcon Flex could improve expansion and retention economics: first re-flexes produced 25% average ARR expansion from the new baseline, while customers re-flexing at least twice had 53% average uplift from initial Flex.
The core endpoint business is still accelerating despite market maturity, helped by AI usage on endpoints and replacement of legacy antivirus and next-generation EDR products.
Operating leverage is improving alongside growth: non-GAAP operating margin was 25% and gross margin was 79%, while management targets 82%-85% subscription gross margin by FY29.
Red flags
Management provided no dollar ARR or customer-count disclosure for AIDR despite describing it as potentially larger than EDR, making the emerging product's contribution difficult to underwrite.
Analysts explicitly pressed on whether frontier labs may release their own security products; management emphasized proprietary threat data but did not provide evidence of durable product or distribution advantages against those vendors.
The AI-security demand thesis relies heavily on management's assertions about agents going rogue and a durable 'Mythos moment'; the call offered limited independent quantification of incremental customer budgets or conversion rates.
Flex ARR growth and uplift metrics are compelling but could partly reflect contract migration, bundling, and timing; the call did not separate true underlying consumption growth from licensing mechanics.
The XM Cyber technology-asset acquisition is expected to close in the second half of FY27 and contributes no ARR or revenue to current guidance, leaving integration execution as an incremental risk.
Forward outlook
revenue growth
23–24 pct
Q3 2027
official guidance
adjusted eps
0.31 $per share
Q3 2027
official guidance
revenue
5991–6011 $million
FY 2027
official guidance
revenue growth
25 pct
FY 2027
official guidance
adjusted eps
1.25–1.26 $per share
FY 2027
official guidance
gross margin
82–85 pct
FY 2029
management target
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2026-03-05
- July 19 Incident
- Platform Consolidation
- Ai Security Cloud
- Sales Cycle Delays
- Customer Retention
- Financing Receivables
- Litigation
- Aws Dependence
Red flags
- The July 19 Incident caused system crashes for certain Windows systems and has led to delayed sales opportunities, longer sales cycles and customer purchasing delays; the company says it cannot reasonably quantify the precise impact and expects adverse effects on future metrics and results.
- Post-incident customer packages include discounting, additional modules, professional services, flexible payment terms and subscription extensions, indicating potential pressure on net retention, realized pricing and revenue quality.
- Two end users represented at least 10% each of financing receivables and 27% in aggregate at January 31, 2026, versus 78% in aggregate a year earlier; gross financing receivables rose to $295.3 million from $52.8 million, increasing exposure to customer credit and collections.
- The airline passenger class-action appeal remains pending, and the company expects continued legal, professional-services and other general and administrative costs related to the July 19 Incident.
- The company still identifies a history of losses and states that it may not sustain profitability, while continuing to invest heavily in sales, marketing, research and development, compliance and potential acquisitions.
Upcoming earnings
9:00 PM UTC+1
Period
Oct 2026
Est. EPS
$0.31
Est. revenue
1.5B
Earnings transcripts
- Motley Fool
CrowdStrike (CRWD) Q2 2027 Earnings Call Transcript
CROWDSTRIKE HOLDINGS, INC.
- Issuer webcast
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CROWDSTRIKE HOLDINGS, INC.
- Issuer webcast
2026 earnings call transcript
CROWDSTRIKE HOLDINGS, INC.
- Issuer webcast
2026 earnings call transcript
CROWDSTRIKE HOLDINGS, INC.
- Issuer webcast
2026 earnings call transcript
CROWDSTRIKE HOLDINGS, INC.
- Issuer webcast
2026 earnings call transcript
CROWDSTRIKE HOLDINGS, INC.
Press & signals
- Satelight
Slim Spider Steals Crypto Custody Secrets From Brazilian Financial Institution
- Satelight
Researcher Releases FalconFlank PoC Showing Privilege Escalation in CrowdStrike Falcon
- Satelight
Sality, one of the longest-running botnets, finally gets disrupted
The rest of this company's wire — with summaries and source links — is part of Pro.
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