CrowdStrike Holdings Inc.
Revenue
$1B
Net Income
$28M
CrowdStrike Holdings Inc.
Revenue
$1B
Net Income
$28M
CrowdStrike Holdings Inc.
CIK: 0001535527
Earnings Analysis
Analyzed 11 of 12 reports
Performance Summary - Q1 2026bullish (76)not_provided
Reality-Based Sentiment Analysisbullish76/100
Based on actual market data, not just management spin. Weighted score: 10% management tone + 40% earnings beat/miss + 30% price action + 20% guidance accuracy.
Financial Performance Trend
Overall Analysis & Outlook
Over the past 5 quarters, CrowdStrike Holdings Inc. has been showing bearish trends with stable guidance. Revenue has grown 89.4% during this period. The latest quarter shows neutral sentiment with neutral tone from management.
Latest Quarter Highlights:
CrowdStrike returned to profitability in Q1 FY2027 with quarterly revenue of $1.39B (+25.6% YoY) and net income of $27.8M, driven by strong subscription revenue growth of $1.32B (+25.7% YoY) and solid gross margins of 75.3%. The company generated robust operating cash flow of $590.9M and maintains strong deferred revenue of $4.72B; however, the company remains significantly impacted by the July 19 Incident with multiple ongoing lawsuits and regulatory challenges that create ongoing uncertainty.
Detailed Quarterly Reports
In-depth analysis of each quarter's earnings filing
Q1 2026
10-Q • Filed 6/4/2026
Summary
CrowdStrike returned to profitability in Q1 FY2027 with quarterly revenue of $1.39B (+25.6% YoY) and net income of $27.8M, driven by strong subscription revenue growth of $1.32B (+25.7% YoY) and solid gross margins of 75.3%. The company generated robust operating cash flow of $590.9M and maintains strong deferred revenue of $4.72B; however, the company remains significantly impacted by the July 19 Incident with multiple ongoing lawsuits and regulatory challenges that create ongoing uncertainty.
Revenue
$1.39B
Net Income
$27.774M
Guidance
Tone
Capex
$120.195M
Key Quotes
"The Company is a global cybersecurity leader that delivers an AI-native platform designed for the agentic era and is purpose-built to stop breaches."
"The July 19 Incident has had, and is expected to continue to have, an adverse effect on our business, sales, customer and partner relations, reputation, results of operations and financial condition."
"In February 2026, the Company completed an assessment of the estimated period of benefit of commissions earned upon the initial acquisition of a contract, or subsequent upsell, and determined that it should increase from four to five years."
Q3 2025
10-Q • Filed 12/3/2025
Summary
CrowdStrike reported Q3 2025 revenue of $1,234.2M (+22% YoY) with subscription revenue of $1,168.7M, but the company posted a net loss of -$34.0M (vs -$16.8M loss in Q3 2024). Operating cash flow remained strong at $1,114.5M for the nine-month period, but the company is burning cash operationally when accounting for working capital changes. The July 19 Incident continues to cast a shadow over near-term prospects, with management adopting a defensive posture in forward-looking statements despite solid top-line growth.
Revenue
$1.23B
Net Income
$-33.997M
Guidance
Tone
Capex
$251.139M
Key Quotes
"The July 19 Incident has had, and is expected to continue to have, an adverse effect on our business, sales, customer and partner relations, reputation, results of operations and financial condition."
"If organizations do not adopt cloud-based SaaS-delivered endpoint security solutions, our ability to grow our business and results of operations may be adversely affected."
"We face intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition, and results of operations."
Q2 2025
10-Q • Filed 8/28/2025
Summary
CrowdStrike reported Q2 FY2026 revenue of $1.17B (+21% YoY) but swung to a net loss of $77.7M from $47M profit in the prior year quarter, primarily due to elevated operating expenses (+36% YoY) and the ongoing impact of the July 19 Incident. The company generated strong operating cash flow of $717M, though free cash flow declined year-over-year, and deferred revenue grew to $3.8B, indicating healthy contract momentum despite significant operational and reputational challenges.
Revenue
$1.17B
Net Income
$-77.675M
Guidance
Tone
Capex
$150.974M
Partnerships
Key Quotes
"The July 19 Incident has had, and is expected to continue to have, an adverse effect on our business, sales, customer and partner relations, reputation, results of operations and financial condition."
"We have experienced rapid growth in recent periods, and if we do not manage our future growth, our business and results of operations will be adversely affected."
"If we are unable to attract new customers, our future results of operations could be harmed."
Q1 2025
10-Q • Filed 6/4/2025
Summary
CrowdStrike reported Q1 FY2026 revenue of $1.10B (+19.8% YoY) with strong subscription growth, but swung to a $110.2M net loss versus $42.8M profit in Q1 FY2025, primarily due to elevated operating expenses related to the July 19 Incident remediation efforts. The company faced significant operational headwinds from the July 19 incident, including multiple lawsuits, regulatory inquiries, and customer relationship damage, which depressed profitability despite healthy top-line growth and $384M in operating cash flow.
Revenue
$1.10B
Net Income
$-110.207M
Guidance
Tone
Capex
$103.188M(+107.3% YoY)
Key Quotes
"The July 19 Incident has had, and is expected to continue to have, an adverse effect on our business, sales, customer and partner relations, reputation, results of operations and financial condition."
"Operating expenses increased 36% year-over-year driven by elevated sales and marketing spend and R&D investments, partially offset by cost management efforts related to strategic reorganization."
"As of April 30, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $6.8 billion, with approximately 52% expected to be recognized in the 12 months following April 30, 2025."
Q4 2024
10-K • Filed 3/10/2025
Summary
CrowdStrike reported full-year fiscal 2025 revenue of $3,050.9 million but swung to a net loss of $19.3 million, primarily due to the catastrophic July 19 Incident that caused widespread system crashes and significant remediation costs. The company faces ongoing litigation, customer attrition, competitive pressures from rivals capitalizing on reputational damage, and extended sales cycles, with management adopting a defensive posture acknowledging the incident's continued adverse effects on business operations and financial condition.
Revenue
$446.994M
Net Income
$202.608M
Guidance
Tone
Partnerships
Key Quotes
"On July 19, 2024, we released a content configuration update for our Falcon sensor that resulted in system crashes for certain Windows systems (the 'July 19 Incident'). We have incurred, and expect to continue to incur, significant costs and expenses related to the incident..."
"As a result of the incident, certain of our existing or prospective customers have elected to, and may in the future elect to, defer purchasing decisions relating to our products and services or not purchase our products and services at all. Customers have also decided, and may in the future decide, to terminate or not renew their agreements with us."
"Our management and other personnel have devoted, and may continue to devote, significant time and resources to address the impacts of the July 19 Incident."
Q3 2024
10-Q • Filed 11/27/2024
Summary
CrowdStrike reported Q3 2024 revenue of $1,010.2M (+28.5% YoY) with subscription revenue growing 31.3%, but swung to a net loss of $16.8M (-$26.5M swing from Q3 2023 profit) due to elevated operating expenses (up 38% YoY) and the July 19 Incident's ongoing impact on sales, customer relations, and legal exposure. The company maintains strong deferred revenue of $3.2B and positive operating cash flow of $1.04B YTD, but management tone is defensive with significant uncertainty around the incident's ultimate business and financial consequences.
Revenue
$1.01B
Net Income
$-16.822M
Guidance
Tone
Capex
$208.907M
Key Quotes
"The July 19 Incident has had, and is expected to continue to have, an adverse effect on our business, sales, customer and partner relations, reputation, results of operations and financial condition."
"As of October 31, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $5.4 billion."
"We have experienced rapid growth in recent periods, and if we do not manage our future growth, our business and results of operations will be adversely affected."
Q2 2024
10-Q • Filed 8/29/2024
Summary
CrowdStrike reported Q2 2024 revenue of $963.9M (32% YoY growth) with net income of $47.0M, demonstrating profitability recovery. However, the July 19, 2024 Channel File 291 Incident—a catastrophic Falcon sensor update causing Windows system crashes—has created significant legal, reputational, and operational headwinds, with multiple lawsuits filed and ongoing remediation efforts expected to materially impact business, customer relationships, and financial condition.
Revenue
$963.872M
Net Income
$47.013M
Guidance
Tone
Capex
$113.932M(+10.8% YoY)
Partnerships
Key Quotes
"The Channel File 291 Incident has had, and is expected to continue to have, an adverse effect on our business, sales, customer and partner relations, reputation, results of operations and financial condition."
"If our solutions fail or are perceived to fail to detect or prevent incidents or have or are perceived to have defects, errors, or vulnerabilities, our brand and reputation would be harmed, which would adversely affect our business and results of operations."
"We have experienced rapid growth in recent periods, and if we do not manage our future growth, our business and results of operations will be adversely affected."
Q1 2024
10-Q • Filed 6/5/2024
Summary
CrowdStrike delivered strong Q1 FY2025 results with subscription revenue of $872.2M (+33.9% YoY) and net income of $42.8M vs. $0.5M in prior year, demonstrating improved profitability and pricing power. The company maintains substantial deferred revenue of $3.1B (+27.6% YoY) and positive operating cash flow of $383.2M, indicating strong customer retention and cash generation. Management focuses on AI-native platform capabilities and recent acquisitions (Flow Security, Bionic) while maintaining disciplined capital allocation.
Revenue
$921.036M
Net Income
$42.82M
Guidance
Tone
Capex
$60.162M
Partnerships
Key Quotes
"The Company is a global cybersecurity leader that delivers cybersecurity's AI-native platform for the XDR era, purpose-built to stop breaches."
"The Company's unified platform provides cloud-delivered protection of endpoints, cloud workloads, identity, and data via a software as a service (SaaS) subscription-based model that spans multiple large security markets."
"As of April 30, 2024, the aggregate amount of the transaction price allocated to remaining performance obligations was $4.7 billion."
Q4 2023
10-K • Filed 3/7/2024
Summary
CrowdStrike achieved full-year FY2024 revenue of $2,241.2 million and returned to profitability with net income of $89.3 million, a significant turnaround from losses in prior years. The company significantly expanded headcount from 4,965 to 7,925 employees to support growth, while generating 32% of revenue from international markets. Management maintains a neutral tone focused on business execution challenges, competitive pressures, and regulatory compliance complexities rather than forward-looking optimism.
Revenue
$160.469M
Net Income
$16.316M
Guidance
Tone
Partnerships
Key Quotes
"We have experienced rapid growth in recent periods and we expect to continue to invest broadly across our organization to support our growth."
"We experienced net gains of $89.3 million for fiscal 2024, and net losses of $183.2 million, and $234.8 million for fiscal 2023, and fiscal 2022, respectively."
"The market for security and IT operations solutions is intensely competitive, fragmented, and characterized by rapid changes in technology, customer requirements, industry standards, increasingly sophisticated attackers."
Q3 2023
10-Q • Filed 11/29/2023
Summary
CrowdStrike achieved Q3 2023 revenue of $786.0M (35% YoY growth) with positive quarterly net income of $26.7M, demonstrating a return to profitability after prior year losses. The company maintains a strong balance sheet with $2.97B cash and positive operating cash flow of $819.2M YTD, though the 10-Q filing contains only forward-looking risk factors without explicit management guidance.
Revenue
$786.014M
Net Income
$26.665M
Guidance
Tone
Capex
$162.55M(-9.5% YoY)
Partnerships
Key Quotes
"The Company is a global cybersecurity leader that provides cloud-delivered protection of endpoints, cloud workloads, identity, and data via a software as a service subscription-based model that spans multiple large security markets, including corporate endpoint security, security and IT operations, managed security services, observability, cloud security, identity protection, threat intelligence, data protection and cybersecurity generative AI."
"As of October 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $3.7 billion. The Company expects to recognize approximately 64% of the remaining performance obligations in the 12 months following October 31, 2023."
"In October 2021, the Company entered into a new private pricing addendum with Amazon Web Services, which provides the Company with cloud computing infrastructure. Under the new pricing addendum, the minimum commitment is $600.0 million of cloud services from AWS through September 2026."
Q2 2023
10-Q • Filed 8/31/2023
Summary
CrowdStrike achieved profitability in Q2 2023 with $731.6M quarterly revenue (36.7% YoY growth) and $8.5M net income, a significant turnaround from prior year losses. Strong cash generation of $545.7M operating cash flow and solid deferred revenue growth to $2.5B demonstrate healthy subscription renewals and customer expansion. However, the 10-Q contains only boilerplate forward-looking statements and risk factors without explicit management guidance on future performance.
Revenue
$731.626M
Net Income
$8.472M
Guidance
Tone
Capex
$128.656M
Partnerships
Key Quotes
"The Company's subscription contracts with its customers have a typical term of one to three years and most subscription contracts are non-cancelable."
"As of July 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $3.6 billion."
"The Company expects to recognize approximately 64% of the remaining performance obligations in the 12 months following July 31, 2023, and 35% of the remaining performance obligations between 13 to 36 months."
Sector Comparison
How CRWD performs vs Technology sector and Cybersecurity peers