CrowdStrike Holdings, Inc.CRWD
CrowdStrike Holdings, Inc. Financial Overview 2021–2025
Despite the operational headwinds of the "July 19 Incident," CrowdStrike grew its Annual Recurring Revenue (ARR) to $4.9 billion by the third quarter of FY2026, proving the extreme stickiness of its cybersecurity platform. This resilience underpins a clear thesis: the company prioritizes aggressive market share capture over consistent GAAP profitability, leveraging high switching costs to absorb operational shocks. The long-term growth arc is relentless, with total revenue scaling from $874.4 million in FY2021 to $3.95 billion in FY2025.
Even as revenue expands, the bottom line remains volatile due to heavy reinvestment and recent remediation expenses. After posting its first full-year net income of $89.3 million in FY2024, the company swung back to a $19.3 million net loss in FY2025. By Q3 FY2026, increased research and development costs contributed to a widening quarterly net loss of $34.0 million. However, the company maintains a fortress balance sheet with $4.8 billion in cash and cash equivalents and subscription gross margins of 75%. The market has priced this growth premium aggressively, with shares trading at $398.07 at the end of FY2025 despite a full-year loss of $0.08 per share.
Recent Developments (Q2 and Q3 2026)
CrowdStrike reported $1.23 billion in revenue for the third quarter of FY2026, up 22% year-over-year, accelerating slightly from the 21% growth to $1.17 billion recorded in the second quarter. Despite this expansion, operational costs related to the "July 19 Incident" surged, with General and Administrative expenses spiking 67% in the second quarter. This drove a steep quarterly net loss of $77.7 million, contrasting sharply with the prior year's profit. To expand platform capabilities beyond these headwinds, the company acquired Pangea Cyber, Onum Technology, and Adaptive Shield during the nine-month period.
Bulls point to improving dollar-based net retention and aggressive M&A as evidence of market leadership, while bears note that widening losses make the $524.17 share price at the end of Q3 2026 difficult to justify without positive earnings. To align leadership with shareholder recovery, the board awarded CEO George Kurtz 300,000 performance stock units tied to relative total returns through 2028.
What to watch: Integration of Pangea and Adaptive Shield; legal expense trends related to the July 19 incident.
Rev
$3.95B
FY2025
NI
$-19.3M
FY2025
EPS
$-0.08
FY2025
OCF
$1.38B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
CrowdStrike Holdings, Inc. 8-K Report, Executive Changes (Dec 29, 2025)
CrowdStrike Holdings, Inc. (CRWD) announced a significant performance-based equity award to its President and CEO, George Kurtz. The award consists of 300,000 performance stock units (PSUs) with the potential to vest at 50% to 200% of the target based on the company's total stockholder return (TSR) relative to the S&P 500 over a three-year period, ending December 22, 2028. This structure aligns Mr. Kurtz's compensation directly with long-term shareholder value creation, with payouts ranging from zero to 600,000 shares depending on CrowdStrike's stock performance relative to 25% to 90% of S&P 500 companies. The decision to grant this award aims to retain Mr. Kurtz, incentivize him to achieve the company's ambitious $20 billion ARR target, and maintain alignment with stockholder interests amidst a dynamic cybersecurity market. The Board highlighted Mr. Kurtz's successful track record, including substantial revenue growth, improving profitability, and significant stock price appreciation since the IPO, as justification for this performance-based incentive. The award is structured to be entirely at risk, providing no guaranteed value and emphasizing the delivery of superior relative returns to shareholders.
CrowdStrike Holdings, Inc. 8-K Report, Financial Results (Dec 2, 2025)
CrowdStrike Holdings, Inc. (CRWD) has filed a Current Report on Form 8-K, primarily to furnish a press release announcing its financial results for the fiscal quarter ended October 31, 2025. While the specific financial figures are not detailed within the 8-K itself, this filing serves as the official notification to the market about the release of these results. Investors should refer to the furnished press release (Exhibit 99.1) for comprehensive details on revenue, profitability, guidance, and other key performance indicators. This report signals the completion of another reporting period and provides stakeholders with an opportunity to assess the company's ongoing performance and strategic execution. The information, though not deemed "filed" under Section 18 of the Exchange Act, is crucial for understanding the company's financial health and future outlook as presented by management. Investors are encouraged to review the accompanying press release for a full understanding of the reported financial condition and results of operations.
CrowdStrike Holdings, Inc. 8-K Report, Financial Results (Aug 27, 2025)
CrowdStrike Holdings, Inc. (CRWD) has filed a Current Report on Form 8-K dated August 26, 2025, to announce its financial results for the fiscal quarter ended July 31, 2025. The report primarily serves to furnish a press release (Exhibit 99.1) containing these results. While specific financial figures are not detailed within the 8-K itself, this filing signals the public disclosure of the company's performance for the second fiscal quarter of 2025. Investors should refer to the furnished press release, Exhibit 99.1, for the detailed financial outcomes, including revenue, profitability, and any forward-looking guidance provided by CrowdStrike. This 8-K filing is a procedural step to make the press release publicly available and is important for understanding the company's recent operational and financial condition.
CrowdStrike Holdings, Inc. 8-K Report, Shareholder Vote Results (Jun 20, 2025)
CrowdStrike Holdings, Inc. (CRWD) has filed an 8-K report detailing the outcomes of its Annual Meeting of Stockholders held on June 18, 2025. The primary focus of this filing is the voting results on two key proposals: the election of Class III Directors and the ratification of its independent registered public accounting firm. Investors can take comfort in the strong support shown for the company's leadership and financial oversight. All nominated Class III Directors, including key figures like George Kurtz, were elected with a significant majority of votes, indicating continued confidence in their strategic direction. Furthermore, the selection of PricewaterhouseCoopers LLP as the independent auditor for the upcoming fiscal year was overwhelmingly ratified, underscoring robust corporate governance and financial transparency. The report confirms a substantial number of shares outstanding and entitled to vote, with high participation in the voting process.
CrowdStrike Holdings, Inc. 8-K Report, Financial Results (Jun 3, 2025)
CrowdStrike Holdings, Inc. (CRWD) has filed an 8-K reporting on two significant events: the release of its financial results for the fiscal quarter ended April 30, 2025, and the approval of a new $1.0 billion share repurchase program by its Board of Directors. While the specific financial details of the quarter are referenced via an attached press release (Exhibit 99.1), the 8-K itself highlights the strategic decision to authorize a substantial share buyback. This program, which has no fixed expiration date, provides the company with flexibility to repurchase its common stock through various methods, including open market purchases and Rule 10b5-1 plans. The company intends to execute these repurchases opportunistically, contingent upon market conditions and stock price, signaling management's confidence in the company's value and its commitment to returning capital to shareholders.
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