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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
—
Company details
Market cap
~$174B
Ending ARR
$5.25B
Revenue (FY26)
$4.81B
Rev. growth
+21%
Subscription mix
95%
Free cash flow
~$1.2B
Net retention
~115%
Dividend
None
In plain English
CrowdStrike sells Falcon, a cloud-native security platform that watches the laptops, servers and cloud workloads of large companies for attacks. Instead of shipping a box, it streams a lightweight 'sensor' that phones home to its cloud — so its whole business is subscription software running on AWS. A July 2024 faulty update crashed millions of Windows machines worldwide and became its defining risk event; it has since recovered to over $5B in recurring revenue.
In simple terms
What CrowdStrike really sells
CrowdStrike sells Falcon, a cloud-native security platform that watches the laptops, servers and cloud workloads of large companies for attacks. Instead of shipping a box, it streams a lightweight 'sensor' that phones home to its cloud — so its whole business is subscription software running on AWS. A July 2024 faulty update crashed millions of Windows machines worldwide and became its defining risk event; it has since recovered to over $5B in recurring revenue.
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