CrowdStrike delivered another beat-and-raise quarter, with revenue increasing 26% year over year to $1.47 billion, exceeding the $1.44 billion consensus estimate. Adjusted earnings per share rose 35% to $0.31, ahead of the $0.29 estimate.
The company's net new annual recurring revenue (NNARR) of $333 million represented a 51% year-over-year acceleration, well above the Street's $284 million estimate and even surpassing the more aggressive investor estimate of $310 million.
"The Mythos moment translated into mass-market acceptance that AI adoption needs security, and that's CrowdStrike," founder and CEO George Kurtz said, referring to Anthropic's limited preview of its Claude Mythos AI model that highlighted critical vulnerabilities at companies. "Every enterprise will run on AI, and securing it is the largest market opportunity in our history."
The company's agentic security platform saw strong results across segments: Cloud Security ARR grew more than 29% year over year, LogScale Next-Gen SIEM ARR grew 60%, and Next-Gen Identity ARR increased 33%.
Key customer wins included an unnamed frontier lab that signed an eight-figure ARR deal using CrowdStrike's Flex licensing model, and a European car maker that replaced legacy security products with an eight-figure net-new Falcon Flex deployment.
CrowdStrike also raised its full-year guidance, now expecting revenue of approximately $6 billion and ARR of $6.6 billion, both above previous outlooks. The company said it ended the quarter with a record pipeline.
The momentum is partly attributed to Project Quiltworks, a coalition formed in April to remediate vulnerabilities in production code discovered by frontier AI models. Partners have collaborated on nearly $400 million of total contract value pipeline to date.
CrowdStrike's Fal.Con conference, which begins next Monday, sold out in early August. Fellow cybersecurity firm Okta also reported strong results after the bell, with shares jumping roughly 20%.
