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How CrowdStrike (CRWD) makes money: Q2 FY2027 revenue breakdown
US GAAP · $M · vs Q2 FY2026 · quarter ended 07/31/2026 (fiscal year is shifted) · reported 08/26/2026
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas. · Wikipedia
More about the company
It provides endpoint security, threat intelligence, and cyberattack response services. The company was co-founded in 2011 by George Kurtz, Dmitri Alperovitch, and Gregg Marston. Kurtz is the CEO. CrowdStrike went public on the Nasdaq in 2019 and joined the S&P 500 index in 2024.
Key growth driver: Subscription — the fastest-growing revenue line: $1,400.3, +27% y/y. · by the Q2 FY2027 report
How does CrowdStrike make money?
CrowdStrike brought in $1.47 billion of revenue in Q2 FY2027, up 25.8% year over year. The largest source was Subscription: $1.40 billion, or 95% of the total, followed by Professional Services ($70.6M, 5%). Net income for the quarter was $5.3 million.
Revenue by source, Q2 FY2027
- Subscription$1.40B · 95% · +27.0%
- Professional Services$70.6M · 5% · +7.0%
Shares of $1.47B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is CRWD’s next earnings date?
Tuesday, December 1, 2026estimated
CrowdStrike (CRWD) has not announced the date yet.
How we estimate
Our estimate: Dec 1, 2026 — exactly 52 weeks after the same-quarter report a year ago (Dec 2, 2025, per its SEC filing). Companies usually keep the same week; the date will be replaced once CRWD confirms it.
What time does CRWD report? Usually after market close: the last 4 results releases reached the SEC at 4:07 pm, 4:06 pm, 4:06 pm, 4:11 pm ET.
Last report: Aug 26, 2026 (Q2 FY2027) — broken down in the Sankey chart below. Who else reports this week →
All figures in $M.
Revenue
$1,470.9
+25.8%
Gross profit
$1,096.9
+27.5%
74.6% margin, was 73.6%
Net income
$5.3
$0.01 diluted EPS; operating line still −$33.2
Verdict: revenue grew 26% to $1.47B and ARR reached $5.84B, yet CrowdStrike still lost money on operations — a $33.2M GAAP operating loss. The $5.3M of net income comes from interest on a $5.0B cash pile, not from the business; the gap between GAAP and the $371.6M non-GAAP operating income is almost entirely stock-based compensation.
ARR $5.84B, +25% Y/Y, with a record $332.8M of net new ARR. Operating cash flow $530.3M, free cash flow $377.4M. Cash and equivalents $5.01B. Non-GAAP operating income $371.6M vs a $33.2M GAAP loss.
Source and notation
* marks non-cash / ≈ estimated. Source: CrowdStrike press release (8-K EX-99), SEC EDGAR.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
CRWD earnings history: past report dates
| Aug 26, 2026 Wed | 4:07 pmafter market close | Jul 31, 2026 | — | $0.01 |
| Aug 27, 2025 Wed | 4:11 pmafter market close | Jul 31, 2025 | — | −$0.07 |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
CrowdStrike: 5-year financials
| FY2026 | 4,812 | −293 | −163 | 1,310 |
| FY2024 | 3,954 | −116 | −15.2 | 1,127 |
| FY2023 | 3,056 | −19.1 | 72.2 | 990 |
| FY2022 | 2,241 | −190 | −183 | 706 |
| FY2021 | 874 | −92.5 | −92.6 | 304 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
1/2mixed
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Mar 202610-K FY2026: on Dec 11, 2024 all Class B shares automatically converted into Class A; the suit over the Jul 19, 2024 outage is ongoing. sec.gov ↗
- Mar 2026SBC $1,097M on revenue of $4,812M in FY2026 (22.8%). data.sec.gov ↗
- Mar 2026Diluted shares 217.8M (FY2021) → 250.6M (FY2026), +15%. data.sec.gov ↗
Scoring: 2.0 −1.0 (criterion 1: SBC 22.8% of FY2026 revenue (>20%) plus share count +15% over 5 years; criterion cap 1.0) = 1.0; dual-class structure eliminated on Dec 11, 2024
- Share classes
- Since Dec 11, 2024 all Class B converted into Class A — a single class; before that a preset sunset applied → no deduction.
- Dilution
- SBC $1.097B / revenue $4.812B = 22.8% (>20% → −1.0); diluted shares 217.8M → 250.6M (+15%); criterion 1 cap — 1.0.
- Disclosure
- Full reporting.
- Dividends
- No dividends paid or promised.
- Lawsuits & regulators
- Shareholder suit after the Jul 19, 2024 outage (W.D. Texas) not settled → no deduction; no SEC cases.
- Related parties
- Falcon Fund co-investment with Accel (director Gandhi) — $10M commitment, disclosed; immaterial.
How the score works · checked as of Sep 2026
CrowdStrike (CRWD) earnings: FAQ
How does CrowdStrike make money?
CrowdStrike brought in $1.47 billion of revenue in Q2 FY2027, up 25.8% year over year. The largest source was Subscription: $1.40 billion, or 95% of the total, followed by Professional Services ($70.6M, 5%). Net income for the quarter was $5.3 million.
When is CRWD's next earnings date?
CrowdStrike (CRWD) has not announced the date yet. Based on last year's schedule (report on Dec 2, 2025), the next report is expected around Dec 1, 2026.
What time does CRWD report earnings?
CrowdStrike usually reports after market close: its latest results release was filed with the SEC at 4:07 pm ET on Aug 26, 2026.
When did CRWD last report earnings?
CrowdStrike reported Q2 FY2027 results on Aug 26, 2026.
Where can I find CrowdStrike's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to CRWD's filings; this page breaks the latest report down in a Sankey chart.
What was CRWD's net income in Q2 FY2027?
CrowdStrike reported net income of $5.3M for Q2 FY2027 (vs a $70.1 loss year over year), under US GAAP.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 09/01/2026. How we make the breakdowns · Report an error
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