CrowdStrike's second quarter 2027 revenue beat expectations with record 51% net new ARR growth

CrowdStrike reported record financial results for the second quarter of fiscal 2027, significantly exceeding analyst estimates for revenue and earnings. The company demonstrated strong resilience following the July 19 incident, delivering record net new Annual Recurring Revenue (ARR) and raising its full-year outlook for growth metrics.

Key Highlights

• Record net new ARR reached $333 million, representing 51% year-over-year acceleration, fueled by adoption of the Falcon Flex platform.
• Total ARR grew 25% year-over-year to $5.84 billion, with Falcon Flex accounts contributing over $2.29 billion of that total.
• Subscription gross margins remained robust at 81% on a non-GAAP basis, while the company generated record quarterly free cash flow of $377 million.
• Management raised fiscal year 2027 net new ARR growth guidance to 34% at the midpoint, an increase of 630 basis points from previous projections.