Crowdstrike Holdings Inc - Class A
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −13.34%.
Did CRWD Beat Earnings? Q4 2025 Results
CrowdStrike closed out fiscal 2025 on a strong note, posting Q4 revenue of $1.06 billion, up 25.2% year-over-year and ahead of the $1.04 billion consensus, while non-GAAP diluted EPS of $1.03 cleared the $0.86 estimate by 19.77%, driven by deepening module adoption and accelerating subscription growth. Annual Recurring Revenue reached $4.24 billion after the company added $224.30 million in net new ARR during the quarter, with next-generation SIEM, cloud security, and identity protection together crossing $1.30 billion in combined ending ARR. On a GAAP basis, the quarter reflected a net loss of $92.28 million, weighed down by $272.53 million in stock-based compensation and $21.01 million in lingering costs tied to last year's content configuration incident. Looking ahead, management guided Q1 FY2026 revenue to $1.10 billion to $1.11 billion and full-year FY2026 revenue to $4.74 billion to $4.81 billion, with non-GAAP EPS of $3.33 to $3.45, though shares softened as investors digested a more conservative profit outlook than some had anticipated.
- ARR grew 23% year-over-year to $4.24 billion with $224 million in net new ARR in Q4
- 97% dollar-based gross retention rate
- Module adoption deepening: 67% with 5+ modules, 48% with 6+, 32% with 7+, 21% with 8+
- Next-Gen SIEM, Cloud Security, and Identity Protection surpassed $1.3 billion in combined ending ARR
- Falcon Flex customers added over $1 billion of in-quarter deal value
- Subscription revenue growth of 27% year-over-year in Q4
“Delivering $224 million of net new ARR, which brings our ending ARR to $4.24 billion, places us firmly on the flight path to our $10 billion ending ARR goal. As businesses of all sizes rapidly adopt AI, stopping the breach necessitates cybersecurity's AI-native platform. We are seeing strong momentum in our Next-Gen SIEM, Cloud Security, and Identity Protection businesses, surpassing $1.3 billion in combined ending ARR. With 97% gross retention and accounts adopting Falcon Flex adding over $1 billion of in-quarter deal value, customers are increasingly consolidating on the Falcon platform as their AI-native SOC for today and tomorrow.”
CrowdStrike CEO, on the earnings call
Forward Guidance & Outlook
CrowdStrike provided guidance for Q1 FY2026: total revenue of $1,100.6–$1,106.4 million, non-GAAP income from operations of $173.1–$180.0 million, non-GAAP net income attributable to CrowdStrike of $162.1–$167.5 million, and non-GAAP diluted EPS of $0.64–$0.66. Full-year FY2026 guidance: total revenue of $4,743.5–$4,805.5 million, non-GAAP income from operations of $944.2–$985.1 million, non-GAAP net income of $851.2–$883.0 million, and non-GAAP diluted EPS of $3.33–$3.45. The company is adopting a 22.5% long-term projected non-GAAP tax rate starting FY2026, which reduces the non-GAAP EPS outlook by approximately $0.19 for Q1 and $0.98 for the full year at the midpoint. Management expressed confidence in achieving their target model by FY2029 and delivering long-term profitable growth.
CRWD YoY Financials
CRWD Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.