Financial Data and Key Metrics Changes - Record net new ARR of $331 million for Q4 FY 2026, growing 47% year-over-year, and $1.01 billion for the year, up 25% year-over-year [5][6] - Ending ARR reached $5.25 billion, marking a 24% year-over-year growth [7] - Record free cash flow of $376 million for Q4, or 29% of revenue, and $1.24 billion for the year, or 26% of revenue [7][29] - Operating income reached a record $326 million for Q4, or 25% of revenue, and $1.05 billion for the year, exceeding the billion-dollar milestone for the first time [7][29] Business Line Data and Key Metrics Changes - Cloud, next-gen identity, and next-gen SIEM collectively saw ending ARR grow more than 45% year-over-year [8] - Next-Gen Identity business ended FY 2026 with over $520 million in ending ARR, growing more than 34% year-over-year [18] - Cloud business exceeded $800 million in ending ARR, growing more than 35% year-over-year [21] - Next-gen SIEM business grew over 75% year-over-year, delivering ending ARR of more than $585 million [22] Market Data and Key Metrics Changes - Geographic revenue mix for Q4 consisted of approximately 66% from the U.S. and 34% from international markets, with EMEA and APAC showing year-over-year revenue growth acceleration [33] - The company reported broad strength across major geographic markets, including the U.S., Japan, Europe, the Middle East, and Africa [33] Company Strategy and Development Direction - The company positions itself as an AI adoption accelerator, emphasizing the necessity of AI security as AI adoption grows [27][36] - The strategy includes leveraging AI within the platform while helping organizations adopt AI securely, creating a structural advantage through proprietary data [28][36] - The company aims to achieve future growth milestones of $10 billion and $20 billion in ending ARR [30] Management's Comments on Operating Environment and Future Outlook - Management highlighted the AI revolution as a generational growth opportunity, with strong conviction in the growth trajectory and profitability expansion [36][37] - The company expects to raise its FY 2027 ARR outlook, reflecting confidence in continued platform consolidation and AI proliferation [37] Other Important Information - The company has seen significant adoption of the Falcon Flex subscription model, with over 1,600 customers and more than 350 new Flex customers added in Q4 [15][17] - The average Flex customer's ending ARR is over $1 million, with a notable increase in module adoption [31] Q&A Session Summary Question: When will securing AI materialize to ARR meaningfully? - Management indicated that growth in protecting AI is already happening, with significant opportunities in various areas related to AI [48] Question: How much of the new AI market opportunity goes to pure play cyber vendors? - Management noted that partnerships with hyperscalers have been beneficial, and they expect to leverage AI to provide better outcomes for customers [49] Question: Can you provide color on recent acquisitions and the journey of customers in agentic security? - Management emphasized that identity is a major threat vector and highlighted the importance of their recent acquisitions in enhancing their security offerings [53] Question: What is the competitive environment in cloud security? - Management expressed confidence in their cloud security offerings, emphasizing the effectiveness of their runtime protection technology [61] Question: How much of the resurgence in identity growth is from renewal versus net new products? - Management noted that identity protection is a key focus area, with strong demand driven by compliance needs and the maturity of their identity stack [67]

Core Insights - The company has successfully pivoted towards Tenable One and exposure management, recognizing it as a larger opportunity compared to traditional vulnerability management [1] - The company has historically excelled in discovering and assessing network-based devices, and has expanded its core use case into other domains, including operational technology (OT) capabilities [1] - The company has broadened its focus to include cloud security, addressing misconfigurations, identity security, and web application scanning, as well as assessing the AI attack surface, which is a significant threat vector in security [2]

Financial Data and Key Metrics Changes - Record net new ARR of $331 million for Q4 FY 26, growing 47% year-over-year, with annual net new ARR reaching $1.01 billion, up 25% year-over-year [5][6] - Ending ARR of $5.25 billion, marking a 24% growth year-over-year, making CrowdStrike the fastest pure-play cybersecurity software company to achieve this milestone [6][30] - Record free cash flow of $376 million for Q4, representing 29% of revenue, and $1.24 billion for the year, or 26% of revenue [6][30] - Operating income reached a record $326 million for Q4, or 25% of revenue, with annual operating income exceeding $1 billion for the first time [6][30] Business Line Data and Key Metrics Changes - Next-gen identity business ended FY 2026 with over $520 million in ending ARR, growing more than 34% year-over-year [18] - Cloud business exceeded $800 million in ending ARR, growing more than 35% year-over-year [21] - Next-gen SIEM business grew over 75% year-over-year, delivering ending ARR of more than $585 million [22] - Collective growth of cloud, next-gen identity, and next-gen SIEM businesses reached over 45% year-over-year, totaling more than $1.9 billion in ending ARR [17] Market Data and Key Metrics Changes - Geographic revenue mix for Q4 consisted of approximately 66% from the U.S. and 34% from international markets, with EMEA and APAC showing accelerated year-over-year growth [33] - Strong performance across major markets including the U.S., Japan, Europe, the Middle East, and Africa, all exceeding expectations [33] Company Strategy and Development Direction - Company positions itself as an AI adoption accelerator, emphasizing the necessity of security in AI deployment [26][27] - Focus on consolidating security needs through the Falcon platform, leading to higher retention rates and module adoption [31] - Recent acquisitions of SGNL and Seraphic aim to enhance identity security and browser security capabilities [19][20] Management's Comments on Operating Environment and Future Outlook - Management highlights the AI revolution as a generational growth opportunity, with CrowdStrike positioned to thrive amid increasing AI adoption [36][37] - Confidence in achieving future growth milestones of $10 billion and $20 billion in ending ARR, supported by strong business momentum and a record Q1 pipeline [30][36] - Management notes that the threat landscape is evolving, with identity being a significant vector for breaches, necessitating advanced security solutions [53][66] Other Important Information - The company has seen a significant increase in the adoption of the Falcon Flex subscription model, with over 1,600 customers now using it [15] - The average Flex customer has an ending ARR of over $1 million, with many adopting multiple modules [16] Q&A Session Summary Question: When will securing AI materialize to ARR meaningfully for CrowdStrike? - Management indicates that growth in protecting AI is already happening, with significant opportunities in various areas including AI-DR and next-gen SIEM [48] Question: How does CrowdStrike view the competitive environment in cloud security? - Management expresses confidence in their execution and the effectiveness of their runtime protection technology, which differentiates them from competitors [61] Question: Can you elaborate on the identity business and its growth? - Management notes that identity security is a key focus area, with significant growth driven by compliance needs and the introduction of new technologies [66]

Iran has made hundreds of attempts to hack into security cameras in government and financial institutions in Israel and Gulf countries since the war began on Saturday, according to a new report by Check Point, a Tel Aviv-based cyber security company. https://t.co/To4jubl9Zo ...

Financial Data and Key Metrics Changes - CrowdStrike achieved record net new ARR of $331 million for Q4 FY 2026, growing 47% year-over-year, and delivered $1.01 billion in net new ARR for the year, up 25% year-over-year [4][28] - Ending ARR reached $5.25 billion, marking a 24% growth year-over-year, making CrowdStrike the fastest pure-play cybersecurity software company to achieve this milestone [5][28] - Record free cash flow of $376 million for Q4, representing 29% of revenue, and $1.24 billion for the year, or 26% of revenue [5][29] - Operating income for Q4 was $326 million, or 25% of revenue, with a total of $1.05 billion for the year, exceeding the billion-dollar milestone for the first time [5][29] Business Line Data and Key Metrics Changes - The cloud, next-gen identity, and next-gen SIEM solutions collectively saw ending ARR growth of more than 45% year-over-year [6][17] - The Next-Gen Identity business ended FY 2026 with over $520 million in ending ARR, growing more than 34% year-over-year [18] - The cloud business exceeded $800 million in ending ARR, with growth accelerating for the second consecutive quarter [20] - The next-gen SIEM business grew over 75% year-over-year, delivering ending ARR of more than $585 million [21] Market Data and Key Metrics Changes - Geographic revenue mix for Q4 consisted of approximately 66% from the U.S. and 34% from international markets, with EMEA and APAC showing year-over-year revenue growth acceleration compared to Q3 [33] - The company reported broad strength across major geographic markets, including the U.S., Japan, Europe, the Middle East, and Africa, all exceeding expectations [33] Company Strategy and Development Direction - CrowdStrike positions itself as an AI adoption accelerator, emphasizing the necessity of security for AI applications [26] - The company is focused on leveraging AI within its platform while helping organizations adopt AI securely, indicating a strategic alignment with the ongoing AI revolution [35] - The introduction of the Falcon Flex subscription model has transformed customer engagement, leading to increased module adoption and higher retention rates [15][31] Management's Comments on Operating Environment and Future Outlook - Management highlighted the AI revolution as a generational growth opportunity, with expectations for continued strong performance driven by AI adoption and platform consolidation [35][36] - The company anticipates a strong Q1 FY 2027 pipeline, which grew 49% year-over-year, reinforcing confidence in delivering profitable growth [32][70] - Management noted that the competitive landscape is evolving, with a clear distinction between companies that are vulnerable and those that will thrive, with CrowdStrike positioned in the latter group [35][36] Other Important Information - The company has made strategic acquisitions, including SGNL and Seraphic, expected to contribute to net new ARR in FY 2027 [36][37] - CrowdStrike's cash and cash equivalents increased to $5.23 billion, with record cash flow from operations of $497.9 million [34] Q&A Session Summary Question: When will securing AI materialize to ARR meaningfully for CrowdStrike? - Management indicated that growth in protecting AI is already happening, with significant opportunities in various areas related to AI security [47][48] Question: Can you provide insights on recent acquisitions and the journey towards agentic security? - Management emphasized that identity is a major threat vector and highlighted the importance of their acquisitions in enhancing identity security capabilities [51][52] Question: How does CrowdStrike view the competitive environment in cloud security? - Management expressed confidence in their cloud security offerings, emphasizing the effectiveness of their runtime protection technology and the ability to stop breaches [59][60]

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Summary of Tenable's Conference Call Company Overview - **Company**: Tenable - **Industry**: Cybersecurity - **Key Executives**: Steve Vintz (Co-CEO), Matt Brown (CFO) Core Points and Arguments Transition to Exposure Management - Tenable has pivoted towards **Tenable One** and exposure management, recognizing it as a larger opportunity compared to traditional vulnerability management (VM) [2][3] - The company has expanded its core use case from network-based devices to include operational technology (OT), cloud misconfigurations, identity security, and web application scanning [2][3] Importance of Open Platforms - A successful exposure management platform must integrate data from various security companies, with Tenable having over **300 connectors** [3][6] - The goal is to correlate risks and prioritize remediation efforts for customers, enhancing their ability to manage security risks effectively [5][6] Growth in Average Selling Prices (ASPs) - Transitioning to the Tenable One platform has resulted in ASPs being **30%-80% higher** compared to standalone VM offerings [8] - The platform now accounts for approximately **40% of new sales**, indicating increased strategic relevance to customers [8][11] Shift Towards Proactive Security - The industry is moving from reactive security (detect and respond) to proactive security (risk reduction), which is expected to drive increased spending in exposure management [9][10] - Tenable aims to help customers reduce risk through orchestrated remediation and bulk configuration changes in multi-cloud environments [5][6] AI and Cybersecurity - Tenable sees AI as an opportunity to enhance its offerings, particularly in discovering **Shadow AI applications** and monitoring sensitive information input into AI models [16][17] - The company is positioned to help customers understand and mitigate risks associated with AI, which is becoming a board-level concern [18][52] Customer Engagement and Retention - Tenable has seen an increase in large multi-year strategic transactions, leading to lower churn rates among platform customers [11][12] - The company is focused on customer-friendly pricing and packaging to encourage platform adoption without forcing upgrades [35][36] Integration and Market Position - Tenable's integration capabilities are crucial in a fragmented cybersecurity market, allowing for better visibility and risk reduction [36][38] - The company has experienced a **35%-40% increase** in long-term remaining performance obligations (RPO), indicating customers are making larger upfront commitments [39] Federal Market Insights - The federal sector is expected to grow in line with overall company growth, with potential for gaining market share [44][46] Financial Performance and Guidance - Tenable reported a **10.5% year-over-year growth** and guided for **7% growth** in fiscal 2027 [47][48] - The company is investing heavily in R&D while expanding operating margins, with a projected **150 basis points** increase in operating margin by 2026 [77][78] Capital Allocation Strategy - Tenable has increased its share repurchase authorization to **$340 million**, indicating a belief that shares are undervalued [87][89] - The company will balance buybacks with organic investments and opportunistic M&A [92] Additional Important Insights - The sales cycle for Tenable One has shortened, with a notable **seven-figure deal** related to AI exposure management [52][53] - The company is focused on creating opportunities and increasing customer engagement through its platform-first approach [40][63] This summary encapsulates the key points discussed during the conference call, highlighting Tenable's strategic direction, market positioning, and financial outlook.

Financial Results Q4 FY 2026 As of March 3, 2026 ® CrowdStrike, Inc. All rights reserved. Safe Harbor This presentation includes express and implied "forward-looking statements", including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, and in some cases, can be identified by terms such as "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," ...

Market Reaction - The market experienced a significant selloff, with all three major indexes down more than 2% due to escalating tensions in the Middle East [1][2] - Gold dropped 4%, silver fell nearly 8%, and Bitcoin also declined, while oil prices remained high [2] - The closure of the Strait of Hormuz, responsible for approximately 20% of global oil trade, was a primary driver of the market's fear [2][6] Geopolitical Developments - An Iranian official threatened to "set fire to any ship attempting to pass through the Strait" of Hormuz, causing energy prices to rise [3] - President Trump announced that the U.S. Navy would escort tankers through the Strait if necessary, aiming to ensure the free flow of energy [4][3] - The market's reaction to Trump's statement indicated a shift in sentiment, with the Dow down only 0.6% by the afternoon [4] Potential Outcomes - Three potential paths for the conflict were outlined: - **Path A: Negotiated Resolution** - Successful talks leading to a ceasefire, resulting in a brief oil price spike and market recovery [9][10] - **Path B: Prolonged Conflict** - Hardliner consolidation in Iran could lead to sustained regional tensions, with oil prices potentially reaching $100 to $140 per barrel [11] - **Path C: State Collapse** - A chaotic fragmentation of Iran could result in severe investment fallout, with oil prices soaring to $150 to $200 per barrel and a potential U.S. recession [12][13] Investment Strategy - Investors are advised to categorize their portfolios into high-conviction and low-conviction holdings, focusing on long-term investments with durable competitive advantages [20][21] - For high-conviction stocks, if the original investment thesis remains intact, market volatility may present buying opportunities [21] - Low-conviction positions should be treated with caution, as sudden market shifts may necessitate protective measures [22][23] Energy Market Focus - The Strait of Hormuz and its impact on oil prices are critical indicators for market stability, with oil being essential for global energy consumption and various industries [18] - The market's reaction will depend less on headline risks and more on the durability of any energy shock, as indicated by Goldman Sachs' chief strategist [18]

The cybersecurity company posted a profit of $38.7 million, or 15 cents a share, in the quarter ended Jan. 31, compared with a loss of $86.3 million, or 35 cents a share, a year earlier. ...