Company Reports

We view CrowdStrike as a leader in endpoint security, a critical part of the cybersecurity stack that protects an enterprise's endpoints (such as computers, laptops, tablets, phones) from nefarious activity. As enterprises continue their digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise's security budget. Within this growing market, CrowdStrike has cemented its leadership position, and the stickiness of its Falcon platform remains clear in the firm's impressive retention metrics.

CrowdStrike closed out its second quarter of fiscal 2027 with sales growing 26% to $1.47 billion and adjusted operating margins expanding 350 basis points to 25.3%. The firm added a record $333 million in net new annual recurring revenue, or ARR, up 51%.

OpenAI revealed on July 21 that during an evaluation of its models' cyber capabilities, these models escaped the evaluation environment, discovered a never-before-seen (zero-day) exploit, and breached the infrastructure of the digital AI library Hugging Face to get answers for the evaluation test.

We view CrowdStrike as a leader in endpoint security, a critical part of the cybersecurity stack that protects an enterprise's endpoints (such as computers, laptops, tablets, phones) from nefarious activity. As enterprises continue their digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise's security budget. Within this growing market, CrowdStrike has cemented its leadership position, and the stickiness of its Falcon platform remains clear in the firm's impressive retention metrics.

CrowdStrike kicked off fiscal 2027 with strong results. The firm's sales grew 26% to $1.39 billion, and its adjusted operating margin expanded 5 percentage points to 23.5%. The firm's annual recurring revenue, or ARR, grew 24% to $5.51 billion.

We view CrowdStrike as a leader in endpoint security, a critical part of the cybersecurity stack that protects an enterprise's endpoints (such as computers, laptops, tablets, phones) from nefarious activity. As enterprises continue their digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise's security budget. Within this growing market, CrowdStrike has cemented its leadership position, and the stickiness of its Falcon platform remains clear in the firm's impressive retention metrics.

On April 7, Anthropic announced Project Glasswing, its collaboration with security-focused vendors that aims to better prepare organizations as more advanced large language models, such as Claude Mythos, are released.

Anthropic confirmed the existence of an upcoming model after Fortune first reported plans for it on March 26. This new model, named either Mythos or Capybara, is reportedly much better than existing models at finding cyber vulnerabilities. This news sent our cyber coverage down 5% on average.

Over the last few months, investors have become increasingly worried about the future of software economic moats as fears of software disintermediation driven by artificial intelligence have grown.

We view CrowdStrike as a leader in endpoint security, a critical part of the cybersecurity stack that protects an enterprise's endpoints (such as computers, laptops, tablets, phones) from nefarious activity. As enterprises continue their digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise's security budget. Within this growing market, CrowdStrike has cemented its leadership position, and the stickiness of its Falcon platform remains clear in the firm's impressive retention metrics.

CrowdStrike closed out fiscal 2026 with strong quarterly results, which included sales growing 23% to $1.3 billion and adjusted operating margins expanding 370 basis points to 25%. The firm's annual recurring revenue grew 24% to $5.25 billion, with net-new ARR rising 47% to $331 million.

On Feb. 20, Anthropic released a vulnerability-scanning tool aimed at security applications, leading to an average drawdown of over 5% across our cybersecurity coverage as investors worry that Anthropic and other artificial intelligence labs could replace cybersecurity functions within companies.

Investors have become increasingly concerned about software valuations, and as they consider the possibility that artificial intelligence-driven software solutions will replace the incumbents in the software sector, the broader software sector is experiencing a material pullback.

We view CrowdStrike as a leader in endpoint security, a prominent part of the cybersecurity stack that protects an enterprise’s endpoints from nefarious activity. As enterprises undergo digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise’s security spend. Within this growing market, CrowdStrike has emerged as a leader and we think the stickiness of its platform, Falcon, is clear in the firm’s impressive gross and net retention metrics.

CrowdStrike reported strong third-quarter results, which include sales growth of 22% and adjusted operating margins of 21%. The firm's annual recurring revenue grew 23% to $4.92 billion, while net new ARR, a measure of new business landed by the firm, grew 73% to $265 million.

CrowdStrike reported strong second-quarter financial results, which included sales growth of 21% and adjusted operating margins of 22%. The firm's annual recurring revenue grew 20% to $4.66 billion while its net new ARR, a measure of new business, came in at $221 million.

The Wall Street Journal reported that Palo Alto was in talks to acquire CyberArk, an identity security vendor, in a deal set to be worth more than $20 billion. CyberArk's stock traded up sharply on the news while Palo Alto's shares went down, highlighting potential investor concerns.

CrowdStrike kicked off fiscal 2026 with a set of solid financial results that underscore the robust demand landscape the firm enjoys for its solutions. Sales grew 20% to $1.1 billion and adjusted margins contracted 490 basis points to 18%, mostly due to the continued impact of the July 19 outage.

CrowdStrike reported solid fourth-quarter earnings that included sales growing 25% to $1.06 billion and adjusted operating margins clocking in at 20.5%, down 470 basis points year over year, mostly due to increased operating costs following the July 19 outage.

We view CrowdStrike as a leader in endpoint security, a prominent part of the cybersecurity stack that protects an enterprise’s endpoints from nefarious activity. As enterprises undergo digital transformations and cloud migrations, we foresee endpoint security further gaining wallet share of an enterprise’s security spend. Within this growing market, CrowdStrike has emerged as a leader and we think the stickiness of its platform, Falcon, is clear in the firm’s impressive gross and net retention metrics.