Earnings Call
Jun 3, 2026
Q2 FY2026
EPS Estimate
1.07
EPS Actual
0.93
Post-Earnings Close
$179.77
Earnings Reaction
-3.8%
CrowdStrike's Q2 FY2026 results were defined by one word management returned to repeatedly: reacceleration. Net new ARR of $221 million set a Q2 record and arrived double-digit millions ahead of internal expectations, pushing ending ARR to $4.66 billion, up 20% year over year, while total revenue of $1.17 billion exceeded the top of guidance. Non-GAAP EPS of $0.93 beat the $1.07 estimate on a reported basis, though a $0.03 benefit from a tax-rate reduction to 21% (from 22.5%) contributed to the outperformance. Free cash flow of $284 million represented 24% of revenue, also a Q2 record. The headline story is that management had guided investors to expect net new ARR reacceleration in the back half of FY2026; it arrived a quarter early, and the company is now guiding back-half net new ARR growth of at least 40% year over year, a materially more aggressive posture than the market had been modeling.
Report generated on Jun 2, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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