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," "project," "should," "will," "would," or t ...

Core Insights - CrowdStrike is enhancing its capabilities in agentic AI security features, focusing on AI agent orchestration within the Falcon Platform and establishing a secure environment for enterprises to deploy agents [1] Group 1: Company Developments - The company is pursuing growth through multiple acquisitions and technological advancements in the field of AI security [1] Group 2: Analyst Background - The analysis is provided by an experienced buy-side equity analyst with over 5 years in the industry, who has a diverse background in sectors such as Oil & Gas, Information Technology, and consumer discretionary [1]

Group 1 - CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is recognized as one of the 15 stocks predicted by ChatGPT to potentially generate significant wealth in the next five years [1] - ColorTokens has integrated its Xshield Enterprise Microsegmentation Platform with the CrowdStrike Falcon Platform, now available on the CrowdStrike Marketplace [2] - This integration allows customers to utilize CrowdStrike Falcon Firewall Management for microsegmentation without needing additional agents, facilitating faster adoption of Zero Trust strategies [2][3] Group 2 - The integration aims to address deployment challenges and reduce overheads, thereby enhancing security posture and supporting least-privilege access controls essential for Zero Trust [3] - Michael Rogers, VP of Global Alliances at CrowdStrike, emphasized that this integration simplifies the path to Zero Trust and improves security outcomes through the CrowdStrike partner ecosystem [3] - CrowdStrike has shown strong performance in 2025, with a year-to-date stock gain of 30% as of September 15 [3]

Financial Results Q2 FY 2026 As of August 27, 2025 ® CrowdStrike, Inc. All rights reserved. Please see the appendix included at the end of this presentation for a discussion of non-GAAP financial measures and a reconciliation of historical non-GAAP measures to historical GAAP measures. 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 stateme ...

Core Insights - CrowdStrike Holdings Inc. has seen a significant stock price increase of 37.6% in 2025, recovering from a previous outage and nearly doubling its value since then [1][3][2] - The company's stock is currently trading at a price-to-sales ratio of 28x, which is a premium compared to historical averages and industry peers [3] - The demand for cybersecurity solutions is at an all-time high, which may justify the premium valuation of CrowdStrike's stock [4] Company Overview - CrowdStrike's Falcon platform integrates AI capabilities, with features like the Threat Graph engine that analyzes trillions of signals daily to detect threats [5][6] - The company has been leveraging AI since its inception, appealing to customers seeking intelligent and easy-to-integrate cybersecurity solutions [7] Market Dynamics - The rise of AI has complicated cybersecurity, necessitating companies like CrowdStrike to be agile in their responses to cyber threats [8][9] - CrowdStrike's end-to-end cloud-native design provides a competitive advantage, allowing it to embed AI deeply into its platform, unlike competitors who may need to pursue mergers and acquisitions to enhance their AI capabilities [9] Financial Performance - Recent earnings reports indicate that CrowdStrike has generated record net new annual recurring revenue (ARR), a crucial metric for software companies [10] - The company is successfully acquiring revenue from both public sector and enterprise clients, often winning customers from legacy cybersecurity firms [11] Stock Forecast - The 12-month stock price forecast for CrowdStrike is $461.17, indicating a potential downside of 2.33% from the current price [13] - Despite a recent decline of about 5.5% in the last 30 days, there has been a reversal in the last week, suggesting cautious optimism among investors [13] Options Market Activity - The options market shows significant interest in the $460 call option, indicating expectations of a post-earnings price increase [14] - Speculative bets are also being placed on higher-strike calls at $505 and $525, suggesting potential bullish sentiment [14]

Financial Highlights - CrowdStrike's Ending ARR reached $3.9 billion, a 32% year-over-year increase[86, 150] - The company's Net New ARR was $218 million, an 11% year-over-year increase[151] - Non-GAAP Subscription Gross Margin was 81%[152] - Free Cash Flow reached $272 million, a 44% year-over-year increase[152] Falcon Flex Subscription Model - Falcon Flex customers' Total Account Value exceeded $700 million in Q2 FY25, up from over $500 million in Q1 FY25 and over $185 million in 4Q24[36] - One customer case study showed a >350% ARR uplift with a total contract value of $110M+ over 5 years after adopting Falcon Flex[51] - Another customer case study showed a >200% ARR uplift with a total contract value of $20M+ over 5 years after adopting Falcon Flex[54] Market Opportunity and Growth Vectors - The company estimates the CY25 Total Addressable Market (TAM) for the AI-Native Security Platform to be $116 billion[66] and $250 billion by CY29[67] - Cloud Security ARR grew >80% year-over-year, reaching >$515 million in Q2 FY25[93, 94] - Next-Gen SIEM ARR grew >140% year-over-year, reaching >$220 million in Q2 FY25[104] - Identity Protection ARR grew >70% year-over-year, reaching >$350 million in Q2 FY25[92] Customer Adoption and Expansion - 48% of customers with $100K+ ARR have adopted 8+ modules[152] - There was a 66% year-over-year growth in deals involving 8+ modules[152]

Financial Performance - Ending ARR reached $444 billion, a 22% year-over-year increase[8,37] - Net New ARR was $194 million[8,29,37] - Subscription revenue totaled $1103 billion[29,37] - Free cash flow was $279 million, representing a 25% margin[8,34,37] Platform Adoption - Customers adopting 6+ modules reached 48%[24] - Customers adopting 7+ modules reached 32%[24] - Customers adopting 8+ modules reached 22%[24] Market Opportunity - The CY25 Total Addressable Market (TAM) for the AI-Native Security Platform is estimated at $116 billion[13,14] - The CY29 Total Addressable Market (TAM) for the AI-Native Security Platform is projected to reach $250 billion[14] Flex Program - Accounts adopting the Flex model represent over $32 billion of total deal value[37] - Average Flex customer deal size is greater than $1 million[37]