CrowdStrike Holdings, Inc. Q4 FY2026 earnings call

George Kirch mentioned AI is driving elevated demand for Falcon platform and weaponizing adversaries. FY26 was best year with record net new ARR, ending ARR, free cash flow, and operating income. AI is key accelerant, and CrowdStrike is mission-critical infrastructure for securing AI. Falcon is vertically integrated net data creator, purpose-built for securing AI at every layer. Go-to-market innovation with Falcon Flex subscription model, with >1,600 customers adopting, >350 added in Q4, average Flex ARR >$1 million. Next-gen identity, cloud, and next-gen SIM businesses grew significantly. Recently closed acquisitions of Signal AI and Seraphic to enhance identity and browser security. Partner go-to-market delivered beyond expectations, with growing practices across major partners and hyperscaler leadership.

For FY26, CrowdStrike had best year yet. Q4 FY26 net new ARR was $331 million, up 47% y/y; full year net new ARR $1.01 billion, up 25% y/y. Ending ARR $5.25 billion, up 24% y/y. Q4 free cash flow $376 million, 29% of revenue; full year free cash flow $1.24 billion, 26% of revenue. Q4 operating income $326 million, 25% of revenue; full year operating income $1.05 billion. Cloud, next-gen identity, and next-gen SIM collectively had ending ARR growth >45% y/y. Next-gen identity business ended FY26 with >$520 million ending ARR, up >34% y/y. Cloud business ending ARR >$800 million, up >35% y/y. Next-gen SIM business grew over 75% y/y, ending ARR >$585 million. Endpoint business accelerated for second consecutive quarter, sensors detected >1,800 distinct AI applications on enterprise devices.

FY27 ARR outlook raised. Q1 FY27 ARR expected $5.502 - $5.504 billion, net new ARR $249 - $251 million. Full year FY27 ARR expected $6.466 - $6.516 billion, net new ARR $1.213 - $1.264 billion. Expect free cash flow margin ~33% in Q1 and at least 30% full year. Capital expenditures as % of revenue 7% - 8% in FY27. Remaining share repurchase authorization ~$950 million.

Q: Joe Gallo asked about securing AI materializing to ARR and new AI market going to pure play cyber vendors.

A: George Kirch said AI is driving ARR growth now, and hyperscalers partner with CrowdStrike.

Q: Rob Owens asked about agentic security and recent acquisitions.

A: George Kirch said identity is big threat vector, Signal AI acquisition is game-changing.

Q: Fatima Bulani asked about relationship with frontier labs.

A: George Kirch said CrowdStrike is net data creator with unique telemetry.

Q: Saket Kalia asked about cloud security competitive environment.

A: George Kirch said CrowdStrike's runtime protection and integrated offering is potent.

Q: Brian Essex asked about identity growth.

A: George Kirch said identity is breached driver, platform consolidation helps.

Q: Brad Zelnick asked about building blocks for guidance.

A: Bert Podbear said strong momentum, Q1 pipeline, Falcon Flex success.

Q: Matt Hedberg asked about pricing and agent mix.

A: George Kirch said AI creates more opportunity, Flex is successful.

Q: Roger Boyd asked about managed service growth.

A: George Kirch said managed services grow due to best outcomes.

Q: Gabriela Borges asked about Anthropic's role.

A: George Kirch said leverage LLMs but focus on real-time prevention.

Q: Todd Weller asked about endpoint acceleration and browser security.

A: George Kirch said AI drives endpoint acceleration, browser security is front door.

Q: Dan Ives asked about Anthropic benefit.

A: George Kirch said AI deployment needs protection, leverage LLMs and own IP.