CrowdStrike's fiscal first quarter of 2027 (the three months ended April 30, 2026) landed as one of the company's strongest prints since the July 2024 global outage rattled customer trust and GAAP profitability. Revenue grew 26% year-over-year to $1.39 billion, net new annual recurring revenue hit a record $256 million, and management raised full-year net new ARR growth guidance by 520 basis points at the midpoint. The board also approved the company's first-ever stock split, a 4-for-1 split effective July 2, 2026, following a roughly 60% run-up in the shares this year.
The Headline Numbers
| Metric | Q1 FY2027 | Result |
|---|---|---|
| Revenue | $1.39B | +26% YoY |
| Ending ARR | $5.51B | +24% YoY, record |
| Net new ARR | $256M | +32% YoY, record |
| Non-GAAP net income | $283.4M | $1.10 per diluted share (pre-split) |
| GAAP net income | $28M | $0.11 per diluted share (pre-split) |
| Free cash flow | $468.5M | 34% of revenue, all-time high |
| Q2 FY2027 revenue guide | $1.436B-$1.442B | ~23% growth |
| FY2027 revenue guide | $5.915B-$5.959B | 23%-24% growth |
Continuing the Recovery from the July 2024 Outage
CrowdStrike's GAAP earnings swung to losses for several quarters following the July 19, 2024 global IT outage, when a faulty Falcon sensor content update crashed millions of Windows systems worldwide in what became the largest IT outage in history, with estimated global losses exceeding $10 billion. Customer commitments, litigation costs, and reputational repair weighed on GAAP profitability through fiscal 2025 and into fiscal 2026. Q1 FY2027's return to GAAP profitability, on top of an already-recovering ARR growth trajectory, is the clearest signal yet that the incident's financial overhang is fading, even as the company continues to lean on customer-retention commitments made in its aftermath.
The AI Security Push: Charlotte AI and the AgentWorks Ecosystem
CrowdStrike's growth story is increasingly framed around AI-native security. Having introduced Charlotte AI, its generative-AI security analyst, in 2023, the company has since expanded it into the Charlotte AI AgentWorks Ecosystem — a no-code platform built with partners including AWS, NVIDIA, OpenAI, Accenture, Deloitte, and Salesforce that lets customers build and orchestrate custom security agents on the Falcon platform. Management points to accelerating platform adoption, new-logo momentum, and increased partner engagement around this AI push as the basis for raising full-year net new ARR guidance to 27.7% growth at the midpoint — an acceleration over fiscal 2026's growth rate.
What to Watch
- Whether net new ARR keeps re-accelerating toward the raised 27.7% full-year growth target, which would mark a durable inflection rather than a single strong quarter.
- Adoption of the Charlotte AI AgentWorks Ecosystem among enterprise customers, and whether it meaningfully expands module attach rates across the Falcon platform.
- Continued GAAP profitability as outage-related customer commitments and costs roll off.
- How the market treats the new post-split share structure, with CRWD trading near $188 after the July 2, 2026 4-for-1 split, against a 52-week range of roughly $85.68-$217.50 (split-adjusted).
- CrowdStrike's next earnings report (Q2 FY2027), guided to $1.436B-$1.442B in revenue, expected around late August or early September 2026.
The Bottom Line
CrowdStrike's fiscal Q1 2027 report checks nearly every box investors wanted: accelerating net new ARR, a return to GAAP profitability, record free cash flow, and raised full-year guidance. The board's decision to split the stock 4-for-1 for the first time in the company's history is itself a signal of confidence following a roughly 60% year-to-date rally. With 53 analysts rating the stock a consensus Buy and recent price-target increases from Citi ($250), UBS ($235), Morgan Stanley ($227), and others, Wall Street reads this quarter as evidence that the AI-security platform strategy — anchored by Charlotte AI — is translating into durable growth even as the company works through the long tail of its 2024 outage.
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) reported fiscal Q1 2027 revenue of $1.39B (+26% YoY) and non-GAAP EPS of $1.10 (pre-split) for the quarter ended April 30, 2026, alongside record net new ARR of $256M and a board-approved 4-for-1 stock split effective July 2, 2026.