Crowdstrike Holdings Inc - Class A
Q2 2025 Earnings
Did CRWD Beat Earnings? Q2 2025 Results
CrowdStrike posted a resilient second quarter of fiscal 2025, beating Wall Street expectations on both the top and bottom lines even as the company navigated the fallout from its July 19 software outage. Non-GAAP diluted EPS of $1.04 cleared the $0.97 consensus by 7.22%, while revenue of $963.87 million edged ahead of the $958.58 million estimate and grew 31.7% year-over-year, powered by subscription revenue that expanded 33% to $918.26 million. The quarter's core strength came from deepening platform adoption, with total ending ARR climbing 32% to $3.86 billion and modules spanning next-gen SIEM, identity protection, and cloud security collectively crossing $1.00 billion in combined ARR. The outage was not without cost: $5.13 million in direct charges hit the quarter, and customer commitment packages are expected to reduce subscription revenue by roughly $30.00 million per quarter through the remainder of fiscal 2025. Management baked those headwinds into full-year guidance calling for revenue of $3.89 billion to $3.90 billion and non-GAAP diluted EPS of $3.61 to $3.65, underscoring confidence that retention has held firm despite a competitor-friendly backdrop in the cybersecurity sector.
- 32% YoY ARR growth to $3.86 billion with $217.6 million in net new ARR
- Subscription revenue growth of 33% YoY
- Non-GAAP operating margin expanded to 24% from 21% YoY
- LogScale Next-Gen SIEM, Identity Protection, and Cloud Security exceeded $1 billion in combined ending ARR
- Module adoption deepening: 65% at 5+, 45% at 6+, 29% at 7+ modules
“Working with customers to recover from the July 19th incident, we emerge as an even more resilient and even more customer-obsessed CrowdStrike, continuing to aggressively invest in innovation. Our second quarter demonstrates the resilience of our business and platform – with LogScale Next-Gen SIEM, Identity Protection, and Cloud Security eclipsing $1 billion in combined ending ARR.”
CrowdStrike CEO, on the earnings call
Forward Guidance & Outlook
For Q3 FY25, CrowdStrike guided total revenue of $979.2–$984.7 million, non-GAAP income from operations of $166.7–$170.8 million, non-GAAP net income of $201.2–$205.2 million, and non-GAAP diluted EPS of $0.80–$0.81. For full fiscal year 2025, guidance calls for total revenue of $3,890.0–$3,902.2 million, non-GAAP income from operations of $774.7–$783.9 million, non-GAAP net income of $908.8–$918.0 million, and non-GAAP diluted EPS of $3.61–$3.65. Revenue guidance includes an estimated $30 million subscription revenue impact in each of the remaining fiscal quarters related to customer commitment packages from the July 19 Channel File 291 Incident, plus a high-single-digit millions impact to professional services revenue in the second half of fiscal 2025.
CRWD YoY Financials
CRWD Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.