CrowdStrike stock soars after record quarter fueled by AI demand

CrowdStrike just posted the kind of quarter that makes Wall Street forget about last year’s global outage drama. The cybersecurity company reported $1.47 billion in revenue for fiscal Q2 2027, a 26% jump year-over-year that beat analyst estimates of $1.44 billion. Shares climbed more than 10% in after-hours trading. The numbers behind the surge CrowdStrike’s subscription revenue hit $1.40 billion, up 27% from the same period last year. The standout metric was net new annual recurring revenue, which came in at $332.8 million for the quarter. That represents a 51% increase year-over-year. Total ending ARR reached $5.84 billion, a 25% climb from last year’s figure. Falcon Flex accounts generated $2.29 billion in ARR, more than doubling year-over-year with a 101% increase. Falcon Flex is CrowdStrike’s flexible consumption model that lets customers adopt modules across its platform without committing to rigid contracts upfront. Free cash flow hit a record $377.4 million for the quarter, and the company is sitting on $5.01 billion in cash and equivalents. Raised guidance signals confidence The company raised its full-year fiscal 2027 revenue guidance to a range of $5.99 billion to $6.01 ...