Core Insights - CrowdStrike Holdings (CRWD) reported a strong start to fiscal 2026 with a free cash flow (FCF) margin increase to 25% from 23% in the previous quarter, generating $279 million in free cash flow despite incurring $61 million in outage-related expenses [1][10] Financial Performance - The company's revenue grew 20% year over year to $1.1 billion in the fiscal first quarter, driven by the adoption of the Falcon Flex platform, with over 820 customer accounts utilizing this model [2] - CrowdStrike achieved a deal value milestone of $3.2 billion within two years of launching Falcon Flex, reflecting a 31% sequential growth and over six times year-over-year growth [2][10] Strategic Initiatives - A strategic realignment in May 2025 focused on reallocating investments into growth areas such as cloud, identity, exposure management, AI, and Next-Gen Security Information and Event Management, which is expected to enhance platform resilience and add at least 1% to its non-GAAP operating margin target in fiscal 2027 [3] - The company aims to exceed 30% in free cash flow margins by fiscal 2027 if the current pace of platform gains and Flex adoption continues [4] Competitive Landscape - Competitors like Zscaler (ZS) and SentinelOne (S) are also evolving their platforms to meet enterprise security demands, with Zscaler reporting an annual recurring revenue (ARR) of $2.9 billion, up 23% year over year [5][6] - SentinelOne experienced a 24% year-over-year growth in ARR in the first quarter of fiscal 2026, driven by the adoption of its AI-first Singularity platform [7] Valuation Metrics - CrowdStrike's shares have increased by 47.5% year to date, outperforming the security industry's growth of 25.6% [8] - The company trades at a forward price-to-sales ratio of 24.14X, significantly higher than the industry's average of 15.06X [11] - The Zacks Consensus Estimate for CRWD's fiscal 2026 earnings indicates a year-over-year decline of 10.94%, while fiscal 2027 earnings are projected to grow by 34.68% [14]

Core Insights - CrowdStrike Holdings (CRWD) shares have increased by 10.7% over the past month, outperforming the Zacks Security industry's growth of 4.6% and surpassing peers like CyberArk Software, Palo Alto Networks, and Check Point Software [1][10] - The company's growth is driven by strong enterprise demand for AI-native cybersecurity solutions and the Falcon Flex subscription model, which enhances customer commitment and revenue growth [2][4] Performance Metrics - As of the end of the first quarter, CrowdStrike reported an Annual Recurring Revenue (ARR) of $4.44 billion, reflecting a year-over-year increase of 22% [5] - The Falcon Flex model achieved a total deal value of $3.2 billion, with a sequential growth of 31% and over six times year-over-year growth [6][10] - The company added $774 million in total Falcon Flex account value during the first quarter of fiscal 2026 [5] Customer Adoption and Expansion - More than 820 customer accounts have adopted the Falcon Flex model, indicating strong market acceptance [6] - A significant expansion deal was secured with a Fortune 100 technology company, increasing its contract from $12 million to over $100 million [7] - A large healthcare provider also signed an eight-figure Falcon Flex expansion deal [8] Subscription and Revenue Growth - CrowdStrike's quarterly revenues exceeded $1 billion for the third consecutive time, marking a year-over-year improvement of nearly 21% [11] - Subscription customers using six or more cloud modules represented 48% of total customers, with 32% using seven or more modules [12] AI Integration and Partnerships - The Falcon platform is gaining traction as an "AI-native SOC," with partnerships with AI companies to enhance capabilities [13] - Collaborations with NVIDIA and Microsoft aim to secure AI systems and standardize cyber threat attribution [14] Cost Structure and Earnings Pressure - Research and development expenses have increased significantly, rising twelvefold over the last six fiscal years [15] - Sales and marketing expenses surged nearly ninefold to $1.52 billion in fiscal 2025 [16] - In the first quarter of fiscal 2026, sales and marketing and R&D expenses rose by 25.5% and 34.7% year-over-year, respectively, impacting earnings [17] Valuation Metrics - CrowdStrike is trading at a high price-to-sales (P/S) ratio of 24.55X, compared to the Zacks Security industry's 15.07X [19] - The P/S multiples for peers CyberArk, Palo Alto Networks, and Check Point Software are 13.6X, 12.97X, and 8.81X, respectively [22] Investment Outlook - The company is positioned well in the AI-driven cybersecurity market, but shrinking profits and high valuation suggest a cautious investment approach [23]

CrowdStrike Investor Briefing September 2024 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," "may," "might," "plan," "potential," "predict ...

Core Insights - CrowdStrike (CRWD) is leveraging its Charlotte AI as a competitive advantage in automated cybersecurity, enhancing the efficiency of human security operations center (SOC) personnel [1][5] Group 1: Charlotte AI Enhancements - CrowdStrike is continuously improving Charlotte AI's capabilities, with the first quarter of fiscal 2026 seeing an expansion in its detection triage, enabling autonomous expert-level triage and response at machine speed [2] - Charlotte AI is also facilitating automation in vulnerability management, providing AI-powered network scanning for both managed and unmanaged devices [4] Group 2: Customer Adoption and Impact - A global healthcare customer signed an eight-figure Falcon Flex expansion, highlighting Charlotte AI's role in their AI-native SOC transformation [3] - A large financial services customer purchased Exposure Management for 120,000 devices, replacing legacy vendors, with Charlotte AI being central to this transition [4][10] Group 3: Competitive Landscape - Competitors like Palo Alto Networks (PANW) and SentinelOne (S) are also expanding their platforms and innovating with AI, with PANW's AI-driven XSIAM platform seeing over 200% year-over-year growth in annual recurring revenue (ARR) [6] - SentinelOne reported a 24% year-over-year growth in ARR, driven by the adoption of its AI-first Singularity platform [7] Group 4: Financial Performance and Valuation - CrowdStrike's shares have increased by 40.5% year to date, outperforming the security industry's growth of 20.1% [8] - The company trades at a forward price-to-sales ratio of 23.23X, higher than the industry's average of 14.52X [12] - The Zacks Consensus Estimate for CRWD's fiscal 2026 earnings indicates a decline of 10.94%, while fiscal 2027 earnings are expected to grow by 34.74% [15]

Core Insights - CrowdStrike Holdings (CRWD) shares have increased by 51.7% over the past three months, outperforming the Zacks Security industry's growth of 23.5% [1][9] - The stock has outperformed peers such as CyberArk Software (CYBR), Palo Alto Networks (PANW), and Check Point Software (CHKP), which saw gains of 29.1%, 14.8%, and 3.6% respectively [1][9] Financial Performance - CrowdStrike's quarterly revenues exceeded $1 billion for the third consecutive time in Q1 of fiscal 2026, reflecting a year-over-year growth of nearly 21% [5] - The company ended Q1 with an Annual Recurring Revenue (ARR) of $4.44 billion, up 22% year-over-year [11] - Non-GAAP earnings declined by 7.6% year-over-year to 73 cents per share due to rising costs [16] Subscription Model and Customer Adoption - The Falcon Flex subscription model has been a significant driver of customer growth, with over 820 customer accounts adopting it, leading to a total deal value of $3.2 billion [12][10] - Customers using six or more cloud modules represented 48% of total subscription customers, with 32% using seven or more modules [6] Strategic Partnerships and AI Integration - CrowdStrike has integrated its Falcon platform with NVIDIA's Enterprise AI Factory and partnered with Microsoft to standardize cyber threat attribution [8] - The company is focusing on expanding its capabilities through partnerships with other AI companies [7] Cost Structure and Investment - Sales and marketing expenses surged nearly ninefold to $1.52 billion in fiscal 2025 from $173 million in fiscal 2019, while R&D expenses increased 12-fold over the last six fiscal years [14][15] - In Q1 of fiscal 2026, sales and marketing and R&D expenses rose by 25.5% and 34.7% year-over-year, respectively [16] Valuation Metrics - CrowdStrike is trading at a high price-to-sales (P/S) ratio of 22.60X, significantly above the Zacks Security industry's ratio of 14.78X [19][22] - Compared to peers, CyberArk, Palo Alto Networks, and Check Point Software have P/S multiples of 13.96X, 12.94X, and 9.25X, respectively [22] Conclusion - The company is well-positioned in the AI-driven cybersecurity market, but shrinking profits and high valuation suggest a cautious approach for investors [23]

智通财经6月9日讯（编辑 齐灵）以下为各家券商对美股的最新评级和目标价： 中金公司维持CrowdStrike Holdings Inc-A（CRWD.O）持有评级，目标价414美元： 尽管1QFY26收入略低于预期，但净利润超预期，主要因运营效率提升。公司Falcon Flex驱动收入高 增，AI时代下身份安全重要性凸显。上调FY2026归母净利润至9.1亿美元，目标价上调至414美元，对 应FY2026 22x P/S。风险包括企业宏观支出不及预期及政府削减安全开支。 中金公司维持lululemon athletica inc（LULU.O）持有评级，目标价280美元： 公司FY26Q1营收超预期，同比增长69%，数据中心业务高增，Blackwell架构过渡完成，预计FY26Q2营 收450亿美元。Blackwell有望驱动2026财年营收增长和利润率提升，维持增持评级，风险包括国际贸易 摩擦、产能不及预期等。 中信证券维持Zscaler（ZS.O）买入评级，目标价317美元： 中金公司维持Suzano SA ADR（SUZ.N）持有评级： 分析师认为，Suzano与Kimberly Clark成立的生活用 ...

Core Viewpoint - CrowdStrike's share prices declined following a report of decelerating revenue growth and maintained full-year revenue guidance, despite a year-to-date increase of nearly 37% in stock value [1] Revenue and Growth Metrics - CrowdStrike reported a 20% increase in revenue to $1.1 billion, matching analyst expectations, with subscription revenue also rising by 20% to $1.05 billion [4] - Annual recurring revenue (ARR) grew by 22% to $4.44 billion, adding $193.8 million in new ARR during the quarter [4] - Revenue growth has been decelerating over several quarters, with Q1 FY26 showing a 20% growth compared to 35% in Q3 FY24 [6][5] Future Expectations - The company anticipates improving sequential net new ARR growth in the next quarter and accelerating ARR growth in the second half of the fiscal year, driven by strong adoption of Falcon Flex [6][8] - Falcon Flex has closed over 820 deals worth $3.2 billion in less than two years, enhancing customer adoption of CrowdStrike's modules [6][7] Financial Performance - Adjusted earnings per share (EPS) fell 8% to $0.73, exceeding the adjusted consensus of $0.63, attributed to increased spending in sales, marketing, and R&D [10] - Operating cash flow was $384.1 million, with free cash flow at $279.4 million, and the company ended the quarter with $4.61 billion in net cash and short-term investments [11] Guidance and Valuation - CrowdStrike maintained its fiscal 2026 revenue guidance of $4.74 billion to $4.81 billion, indicating a growth of 20% to 22%, while raising adjusted EPS guidance to $3.44 to $3.56 [12] - The stock trades at a forward price-to-sales multiple of just under 24 times fiscal 2026 estimates, which is considered expensive given the current growth outlook [13][14]

Core Insights - CrowdStrike is a leading cybersecurity provider known for its Falcon platform and AI-driven approach, which automates threat detection and incident response [1][2] Financial Performance - CrowdStrike's stock has increased by 34% in 2025, outperforming the S&P 500, which is up by only 2% [2] - The company reported $1.1 billion in revenue for fiscal Q1 2026, marking a 20% year-over-year increase [9] - Despite solid financial results, revenue growth is gradually slowing due to a larger revenue base and the impact of a major outage last July [11][12] Product Adoption - The Falcon platform is gaining traction, with 48% of customers using at least six modules, up from 44% year-over-year [5] - The introduction of Falcon Flex in 2023 has driven greater adoption, with average Flex customers utilizing nine modules [6] - A phenomenon termed "Reflexes" is emerging, where customers exhaust their budgets early and return to increase spending [7] Long-term Guidance - CrowdStrike aims to achieve $10 billion in annual recurring revenue (ARR) by fiscal year 2031, indicating a potential growth of 127% from the current level of $4.4 billion [13] - Management's commitment to this target suggests confidence in overcoming the impacts of the previous outage [13] Valuation Concerns - CrowdStrike's stock is considered expensive, trading at a price-to-sales (P/S) ratio of 28.7, significantly higher than some competitors [15][17] - The company faces challenges in maintaining its premium valuation as competitors like Zscaler and SentinelOne show faster growth [17] - Short-term upside for CrowdStrike stock may be limited, but long-term investors could find value if the company meets its ARR target by 2031 [18][19]

Here's our initial take on CrowdStrike's (CRWD 0.48%) financial report.Key MetricsMetricQ1 FY25Q1 FY26Changevs. ExpectationsRevenue$921 million$1.1 billion19%MetEarnings per share$0.79$0.73-8%BeatNet new ARR$212 million$194 million-8%N/AFree cash flow$323 million$279 million-14%N/ACrowdStrike powering through post-outage headwindsComing up on the one-year anniversary of CrowdStrike's disastrous July 2024 global outage, the cybersecurity company continues to make progress moving past the incident. CrowdStrik ...

Key Takeaways CrowdStrike's Falcon Flex hit $3.2B in total deal value, up 31% sequentially and 6x year over year. Flex drove $194M in net new ARR in Q1, with 39 re-Flex deals showing rising customer renewal activity. CRWD's ARR reached $4.44B, up 22% YoY, as Flex adoption gains momentum across more than 820 accounts.CrowdStrike’s (CRWD) Falcon Flex subscription-based model is turning out to be the driver of its annual recurring revenue (ARR) expansion. During the first quarter of fiscal 2026, CrowdStrike ...