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CrowdStrike Holdings (CRWD) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Aug 27, 2026 · CrowdStrike Holdings (CRWD) Q2 FY27 earnings results →

Q2 FY27 Revenue up 26% year over year to $1.5B · 0¢ of every $1 of revenue kept as net profit · operating margin -2.3%

CrowdStrike Holdings made $1.5B in Q2 FY27 (+26% Y/Y): Subscription $1.4B, Professional services $70.6M. Operating margin -2.3%, net earnings $5.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 27, 2026.

Revenue$1.5B
Year over year+26%
Operating margin-2.3%
Net earnings$5.3M
Operating cash flow$530M

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CrowdStrike Holdings Q2 FY27 revenue breakdown: Sankey diagram of revenue (Subscription, Professional services), costs, profit and cash flow
CrowdStrike Holdings Q2 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.5B in Q2 FY27, up 26% year over year and up 6% from the previous quarter. Subscription was the largest line at 95% of revenue. Subscription added $0.30B year over year (up 27%), 98% of the total change.

Gross margin was 74.6%, up 1.0 points from Q2 FY26. Operating costs exceeded revenue by $0.03B, an operating margin of -2.3%. Operating expenses grew 17% against revenue growth of 26%. The fastest-growing cost line was Research & development (+30%). Net earnings were $0.01B. The effective tax rate was -34.9%. Non-operating items added $0.04B, 945% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $0.53B (up 59% year over year), 9994% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.38B of share-based compensation. Working capital and other items added $0.12B. Capital expenditures of $0.12B left free cash flow of $0.41B.

Quarterly history

CrowdStrike Holdings revenue by quarterCrowdStrike Holdings revenue by quarter$1.1BQ4 FY25$1.1BQ1 FY26$1.2BQ2 FY26$1.2BQ3 FY26$1.3BQ4 FY26$1.4BQ1 FY27$1.5BQ2 FY27
CrowdStrike Holdings net earnings by quarterCrowdStrike Holdings net earnings by quarter−$92.7MQ4 FY25−$111MQ1 FY26−$77.6MQ2 FY26−$34.0MQ3 FY26$59.4MQ4 FY26$46.0MQ1 FY27$5.3MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QAug 27, 2026$1.5B+26%-2.3%$5.3M$530M
Q1 FY2710-QJun 4, 2026$1.4B+26%-2.2%$46.0M$591M
Q4 FY2610-KMar 5, 2026$1.3B+23%1.1%$59.4M$498M
Q3 FY2610-QDec 3, 2025$1.2B+22%-5.6%−$34.0M$398M
Q2 FY2610-QAug 28, 2025$1.2B+21%-9.7%−$77.6M$333M
Q1 FY2610-QJun 4, 2025$1.1B+20%-10.8%−$111M$384M
Q4 FY2510-KMar 10, 2025$1.1B+25%-7.7%−$92.7M$346M

Charts

CrowdStrike Holdings: revenue growth, year over year and quarter over quarterCrowdStrike Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+25%Q4 FY25+20%+4%Q1 FY26+21%+6%Q2 FY26+22%+6%Q3 FY26+23%+6%Q4 FY26+26%+6%Q1 FY27+26%+6%Q2 FY27
Latest (Q2 FY27): Y/Y +26%, Q/Q +6%.
CrowdStrike Holdings: where the cash came from (+) and went (−), TTM to Q2 FY27CrowdStrike Holdings: where the cash came from (+) and went (−), TTM to Q2 FY27Operating cash flow$2.0BAcquisitions−$1.3BCapital spending−$408MCash drawn (+) / kept (−)−$203MOther investing−$87.9MOther financing−$37.8MPartners−$20.5MShares issued$2.5MExchange rates$1.4M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
CrowdStrike Holdings: profit against cash, quarter by quarterCrowdStrike Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow−$16.8M$326MQ3 FY25−$88.7M$346MQ4 FY25−$105M$384MQ1 FY26−$70.1M$333MQ2 FY26−$34.0M$398MQ3 FY26$61.5M$498MQ4 FY26$46.0M$591MQ1 FY27$5.3M$530MQ2 FY27
Latest (Q2 FY27): Net income $5.3M, Operating cash flow $530M.
CrowdStrike Holdings: diluted shares by fiscal yearCrowdStrike Holdings: diluted shares by fiscal year218MFY21227MFY22233MFY23244MFY24245MFY25251MFY26
+15.1% since FY21: more shares outstanding (issuance, stock pay).
CrowdStrike Holdings in its industry: growth against margin (192 companies, SIC 7372)CrowdStrike Holdings in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYCRWD (+26%, -2%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

Cybersecurity money flowCybersecurity · Platforms

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About CrowdStrike Holdings

Founded in 2011, CrowdStrike reinvented cybersecurity for the cloud and artificial intelligence (“AI”) era and transformed the way cybersecurity is delivered and experienced by customers. When we started CrowdStrike, cyberattackers had an asymmetric advantage over legacy cybersecurity products that could not keep pace with rapid changes in adversary tactics, a dynamic that has intensified as adversaries increasingly leverage automation, identity abuse, and AI to operate at machine speed. We took a fundamentally different approach to solve this problem with the AI-native CrowdStrike Falcon cybersecurity platform, which serves as the operating system for cybersecurity.

In its own words, from its 10-K, filed Mar 5, 2026.

CrowdStrike Holdings against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +19%. Operating margin: -2.3% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
CRWD CrowdStrike HoldingsQ2 FY27$1.5B+26%-2.3%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: CrowdStrike Holdings 10-Q on SEC EDGAR · CIK 1535527 · Services-Prepackaged Software

Guidance and outlook

CrowdStrike Holdings Revenue: guidance against what was reportedCrowdStrike Holdings Revenue: guidance against what was reportedguided rangereported (above / within / below)Q2 FY26$1.2BQ3 FY26$1.2BFY26$4.8BQ4 FY26$1.3BFY27Q1 FY27$1.4BQ2 FY27$1.5BQ3 FY27
Met or beat 9 of 9 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns CRWD and who is buying

Largest holders of CRWD (13F)Largest holders of CRWD (13F)BlackRock$16.7BVanguard Capital Management LLC$12.4BVanguard Group$11.4BState Street$8.8BInvesco$6.4BFMR LLC$6.0BMorgan Stanley$5.0BGeode Capital Management, LLC$4.6BVanguard Portfolio Management LLC$4.5BPrice T Rowe Associates$3.3B
Funds' net buying of CRWD by quarter (13F)Funds' net buying of CRWD by quarter (13F)−$524M2024-09−$123M2024-12$1.7B2025-03$2.1B2025-06−$2.5B2025-09$4.1B2025-12−$256M2026-03$3.5B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CRWD

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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中文版：CrowdStrike（CRWD）财报

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