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CrowdStrike Holdings cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$406M in Q2 FY27 · $1.6B over twelve months

Operating cash flow$530M
Capital spending−$124M
Free cash flow+$406M
Cash / net income99.9×
Cash conversion cycle41 days

Analysis

In Q2 FY27, CrowdStrike Holdings generated $530M of operating cash flow and spent $124M on capital projects, leaving free cash flow of $406M. That is $104M more than in Q2 FY26 ($302M).

Over the twelve months to Jul 31, 2026, operating cash flow was $2.0B; the largest uses were acquisitions ($1.3B), capital spending ($408M), other investing ($87.9M); besides operations, cash came from shares issued ($2.5M); the cash balance rose by $203M.

Operating cash flow was $530M against net income of $5.3M — 99.9× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$377M, deferred revenue +$120M, receivables −$105M.

Its cash conversion cycle was 41 days (receivables 62 + inventory 0 − payables 21).

Free cash flow

CrowdStrike Holdings: free cash flow by quarterCrowdStrike Holdings: free cash flow by quarter$247MQ3 FY25$259MQ4 FY25$298MQ1 FY26$302MQ2 FY26$314MQ3 FY26$395MQ4 FY26$493MQ1 FY27$406MQ2 FY27
Operating cash flow less capital spending.
CrowdStrike Holdings: operating cash flow against capital spendingCrowdStrike Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$326M$78.7MQ3 FY25$346M$87.2MQ4 FY25$384M$85.8MQ1 FY26$333M$30.5MQ2 FY26$398M$83.4MQ3 FY26$498M$102MQ4 FY26$591M$97.6MQ1 FY27$530M$124MQ2 FY27
Latest (Q2 FY27): Operating cash flow $530M, Capital spending $124M.

Capital allocation, year by year

CrowdStrike Holdings: where the cash came from (up) and went (down), by fiscal yearCrowdStrike Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY22: Operating cash flow $575MFY22: Net borrowing −$1.6MFY22: Shares issued $15.9MFY22: Capital spending −$112MFY22: Acquisitions −$415M$591MFY22FY23: Operating cash flow $941MFY23: Net borrowing −$1.6MFY23: Shares issued $8.7MFY23: Capital spending −$235MFY23: Acquisitions −$18.3M$950MFY23FY24: Operating cash flow $1.2BFY24: Shares issued $8.7MFY24: Capital spending −$177MFY24: Acquisitions −$239M$1.2BFY24FY25: Operating cash flow $1.4BFY25: Shares issued $4.0MFY25: Capital spending −$255MFY25: Acquisitions −$310M$1.4BFY25FY26: Operating cash flow $1.6BFY26: Shares issued $3.2MFY26: Capital spending −$302MFY26: Acquisitions −$382M$1.6BFY26
Over these 5 years operating cash flow totalled $5.7B; the largest uses were acquisitions ($1.4B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.0B
Debt$746M
Net cash$4.3B

CrowdStrike Holdings funds itself: free cash flow was $1.6B over the last twelve months, and $5.0B of cash and investments stands against $746M of debt.

Where the cash came from and went

CrowdStrike Holdings: sources (+) and uses (−) of cash, Q2 FY27CrowdStrike Holdings: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$530MCash drawn (+) / kept (−)−$461MCapital spending−$124MOther financing$86.6MOther investing−$27.1MPartners−$3.7MExchange rates−$1.7MShares issued$986K
CrowdStrike Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27CrowdStrike Holdings: sources (+) and uses (−) of cash, 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 profit to cash

CrowdStrike Holdings: net income to operating cash flow, Q2 FY27CrowdStrike Holdings: net income to operating cash flow, Q2 FY27Net income$5.3MDepreciation & amortization$25.7MStock-based pay$377MDeferred taxes$3.8MOther non-cash$413KReceivables−$105MPayables$46.6MAccrued liabilities$55.9MEmployee-related liabilities$48.0MDeferred revenue$120MPrepaid and other assets−$20.4MOperating cash flow$530M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2762—2141
Q1 FY2774—2153
Q4 FY2684—3549
Q3 FY2671—3833
Q2 FY2667—2046
Q1 FY2678—2355
Q4 FY2584—3549
Q3 FY2567—1849

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$530M−$124M——$986K−$461M$406M
Q1 FY27$591M−$97.6M−$881M−$176M$683K$599M$493M
Q4 FY26$498M−$102M−$1.4M—$535K−$429M$395M
Q3 FY26$398M−$83.4M−$381M—$273K$87.9M$314M
Q2 FY26$333M−$30.5M——$1.7M−$358M$302M
Q1 FY26$384M−$85.8M——$634K−$291M$298M
Q4 FY25$346M−$87.2M−$214M—$675K−$62.5M$259M
Q3 FY25$326M−$78.7M——$844K−$222M$247M

CrowdStrike Holdings: income statement and cash flow

CrowdStrike Holdings, Q2 FY27: revenue $1.5B (+26% year over year), operating margin -2.3%. The chart follows the revenue to costs, profit and cash.

CrowdStrike Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.