CrowdStrike (CRWD) Q4 2026 earnings summary

Executive summary

• Achieved record Q4 and FY26 results, with $5.25B ending ARR (up 24% YoY), record operating income, and free cash flow, driven by AI-fueled demand and platform adoption.

• Net new ARR reached $331M in Q4 (up 47% YoY), surpassing $1B in net new ARR for the first time.

• Platform adoption accelerated, with significant increases in customers using multiple modules and rapid expansion in cloud, SIEM, and identity segments.

• Achieved positive GAAP net income in Q4 and record non-GAAP net income.

• Falcon Flex accounts ARR grew over 120% YoY to $1.69B.

Financial highlights

• Q4 total revenue was $1.31B, up 23% YoY; subscription revenue was $1.24B, up 23% YoY.

• Q4 non-GAAP operating income was $326M (25% margin); non-GAAP net income was $289.1M ($1.12 per diluted share).

• Q4 free cash flow was $376.4M (29% of revenue), up 57% YoY; full year free cash flow was $1.24B (26% margin).

• Cash and equivalents rose to $5.23B as of January 31, 2026.

• Gross retention rate at 97%, dollar-based net retention at 115%.

Outlook and guidance

• FY27 ARR guidance: $6.47–$6.52B (23–24% YoY growth); total revenue: $5.87–$5.93B (22–23% YoY growth).

• FY27 non-GAAP operating income expected at $1.42–$1.46B; non-GAAP net income per share: $4.78–$4.90.

• Q1 FY27 ARR guidance: $5.50–$5.50B; revenue: $1.36–$1.36B; non-GAAP income from operations: $308–$310M.

• Free cash flow margin expected at ~33% in Q1 and at least 30% for FY27.

• Non-GAAP tax rate set at 21.0%.