CrowdStrike Holdings, Inc. (CRWD) Earnings
CrowdStrike Holdings, Inc. is expected to report next earnings on December 1, 2026 (in NaN days), with a consensus EPS estimate of $0.32. CRWD has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +3.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 26, 2026 | $0.29 | $0.31 | +6.3% | $1.5B | +2.1% |
| Jun 3, 2026 | $1.06 | $1.10 | +3.6% | $1.4B | +1.7% |
| Mar 3, 2026 | $1.10 | $1.12 | +2.0% | $1.3B | +0.6% |
| Dec 2, 2025 | $0.94 | $0.96 | +2.3% | $1.2B | +1.5% |
| Aug 27, 2025 | $0.84 | $0.93 | +11.0% | $1.2B | +1.3% |
| Jun 3, 2025 | $0.67 | $0.73 | +8.8% | $1.1B | -0.5% |
| Mar 4, 2025 | $0.87 | $1.03 | +18.7% | $1.1B | +1.9% |
| Nov 26, 2024 | $0.82 | $0.93 | +13.1% | $1.0B | +2.5% |
| Aug 28, 2024 | $1.00 | $1.04 | +4.3% | $964M | +0.3% |
| Jun 4, 2024 | $0.90 | $0.93 | +3.3% | $921M | +1.6% |
| Mar 5, 2024 | $0.82 | $0.95 | +15.3% | $845M | +0.4% |
| Nov 28, 2023 | $0.74 | $0.82 | +10.8% | $786M | -6.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2027 · August 26, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- **AI Security Inflection**: The 'Mythos' moment has transitioned into sustained acceleration, driven by the realization that AI adoption creates significant cyber risks from rogue agents. - **Falcon Flex Strategy**: The 'Flex First' go-to-market motion is driving platform consolidation. Over 935 new Flex accounts were added, with customers seeing >40% ARR uplift upon conversion and 53% uplift after reflexing twice. - **Product Expansion**: AIDR is surging as enterprises seek visibility into AI usage. Next-Gen SIEM is becoming the SOC operating system due to its friction-free deployment of first-party data. - **Ecosystem Growth**: Project Quiltworks has mobilized over 25 partners, generating nearly $400 million in pipeline. GSI business grew nearly 50% year-over-year. - **Marketplace Success**: Record transaction volume through hyperscaler marketplaces (AWS, Google, Microsoft), exceeding $600 million in deal value in Q2 alone.
Guidance
- **FY27 Net New ARR Guidance Raised**: Management raised full-year net new ARR guidance to $1.355 billion at the midpoint, representing an increase of approximately $116 million (1,150 basis points) from the initial outlook. - **FY27 Revenue Guidance**: Expected total revenue is $5.991 to $6.011 billion, up 25% year-over-year. - **Q3 FY27 Outlook**: Net new ARR expected to be $343–$347 million. Total revenue expected to be $1.523–$1.529 billion. - **Profitability Metrics**: Non-GAAP operating income expected to be $373–$376 million for Q3. Full-year non-GAAP net income per share expected to be $1.25–$1.26. - **Free Cash Flow**: Expect Q3 free cash flow margin of 27.5% and full-year margin of at least 30%. - **XM Cyber Acquisition**: Assets are expected to close in H2 FY27 but will not contribute ARR or revenue to FY27 guidance.
Segment performance
Total revenue reached $1.47 billion, up 26% year-over-year. Subscription revenue was $1.40 billion (up 27%), and professional services were a record $71 million. Ending ARR grew to $5.84 billion (up >25%). Key product segment performances include: Endpoint business accelerating for the fourth consecutive quarter; AI Detection and Response (AIDR) ending ARR nearly tripled versus Q1; Next-Gen SIEM ending ARR surpassed $695 million; Identity business ending ARR grew 34% to over $585 million; Cloud security ending ARR exceeded $905 million (up >29%); Exposure Management accelerated sequentially. Falcon Flex ending ARR surpassed $2.29 billion, growing 101% year-over-year.
Risks & headwinds
- **Rogue AI Agents**: Autonomous agents are proving capable of going rogue, swarming to attack, altering permissions, and causing organizational compromise. - **Vulnerability Patching Lag**: The speed of AI-generated exploits has outpaced traditional patching windows, making real-time exposure management critical. - **Shadow AI**: Unsanctioned AI usage on endpoints creates significant data leakage and identity compromise risks. - **Legacy Technology Obsolescence**: Legacy endpoint detection and vulnerability management products are failing to address agentic threats, creating displacement opportunities but also highlighting the risk of outdated infrastructure.
Analyst Q&A
Q: What are the key drivers behind the upside in Q2 following the 'Mythos' moment? /
A: George Kurtz attributed the strength to the urgent need for protecting AI adoption, specifically citing phenomenal growth in AIDR, cloud, identity, next-gen SIEM, and endpoint security. He emphasized that companies cannot keep up with patching vulnerabilities fast enough due to autonomous agents, driving demand for CrowdStrike's real-time exposure management and runtime protection capabilities.