CrowdStrike FY27 Q2: revenue up 26.0%, GAAP profit thin at $5.3 million
CrowdStrike's fiscal 2027 second quarter was a growth story with a thin accounting bottom line: revenue rose 26.0% to $1.471 billion and free cash flow reached a Q2 record of $377.4 million, while GAAP net income was just $5.3 million. Read the scorecard as two businesses — a fast-compounding subscription engine and an expense base that still outruns it.
1 · Expected vs. Actual
Free preview belowGAAP net income swung to $5.3 million, or $0.01 per diluted share, from a $70.2 million loss a year ago; non-GAAP earnings were $322.9 million, or $0.31 per share, up from $0.23. The $0.30 gap between the two is mostly $399.0 million of stock-based compensation and related payroll taxes. The tax line was also a $1.4 million benefit, which flatters the GAAP figure.
Revenue of $1.471 billion rose 26.0% from $1.169 billion a year earlier, and subscription revenue of $1.400 billion made up 95.2% of the total. That subscription line grew 27%, so the mix is doing the work — professional services brought in just $70.6 million, or 4.8%.
Management guided Q3 revenue to $1.5232–$1.5292 billion, a midpoint of $1.5262 billion, and full-year FY27 revenue to $5.9911–$6.0111 billion; Q3 non-GAAP EPS is guided to $0.31 and the full year to $1.25–$1.26. The Q3 midpoint sits about 2.1% below the $1.5583 billion next-quarter revenue estimate. CrowdStrike has beaten its own guidance in the last four entries shown, with actual revenue landing 0.8% to 2.2% above the guided midpoint.
Log in to read 5 analyses a week for free
Create a free account to read 5 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.