CrowdStrike Holdings Inc (CRWD) Q2 2026 Earnings Report

Revenue and profitability
- Revenue: $1.16895B, up 21% YoY; QoQ growth: ~5.9% (from prior quarter data).
- Non-GAAP gross margin: 78.0%; Non-GAAP subscription gross margin: 80.0%.
- Operating expenses (non-GAAP): $652.5M (56% of revenue); non-GAAP operating income: $255.0M; non-GAAP operating margin: 22%.
- GAAP net loss: $77.7M; includes $35.7M outage-related costs and $38.4M strategic plan charges.
- Non-GAAP net income: $237.4M; Non-GAAP EPS: $0.93 (diluted).
- Tax rate: Long-term non-GAAP tax rate reduced to 21% from 22.5%, contributing ~ $0.3 benefit to diluted EPS.

Cash flow and liquidity
- Cash and cash equivalents: $4.97B.
- Operating cash flow: $332.8M; Free cash flow: $283.6M (24% of revenue).
- Free cash flow impact from outages/plan costs: ~$29M in QQ2.

ARR and product momentum
- Ending ARR: $4.66B, +20% YoY.
- Net new ARR: $221M (record QQ2).
- Cloud ARR ending: >$700M, +35% YoY.
- NextGen SIEM ARR: >$430M, +>95% YoY.
- Falcon Flex: >1,000 Flex customers; Flex utilization >75%; reflexed accounts ~10% of Flex base; reflex activity yields ~50% uplift in ending ARR per reflex.
- Module adoption among subscription customers: 6 modules (48%), 7 modules (33%), 8+ modules (23%); among >$100k ending ARR customers, 60% use 8+ modules.
- Identity security (next-gen identity protection) ending ARR >$435M, +21% YoY. PAM solution addition announced in Q1; acceleration in identity-related opportunities supported by Shield and PAM.
- Cloud security wins: 7-figure enterprise win with CNAP/CSPM adoption and single-platform ASPM integration to reduce manual work.