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CrowdStrike Holdings

$318.74

-1.36%

21 of 22

Falcon endpoint platform — module attach rate is the durable growth lever.

: $78B
P/S: 19.5
ARR YoY: +27%
: 78.0%
FCF margin: 34.0%

More angles · 6

The headline metrics above sit at the top because they're what most readers glance at first. These six dimensions are where a tech-focused study actually lives — capital intensity, margin trajectory, concentration risk, and the per-sub-sector quality metrics this kind of business is judged on.

: 21.3%
: 23.0%
: ~115%
Modules 8+: ~21% of subs
ARR: $4.0B
3yr rev CAGR: +39%

Track in portfolio Back to feed

What changed on the call

How management's posture shifted from FY25-Q4 to FY26-Q1

2 quarters

Tone: cautiousconstructive
Guidance: maintainedmaintainedunchanged

This quarter · FY26-Q1

Called 2026-06-03

ARR growth solid; net new ARR returned to a more typical pace after a softer prior quarter. Module adoption — particularly identity protection and cloud security — described as the leading indicator analysts should weight. Management addressed the July 2024 outage cohort as fully cycled through retention.

Net new ARR back to a more typical pace; the comparison to the softer prior quarter was the central question.
Module adoption (identity protection, cloud security) called out as the durable cross-sell engine.
July 2024 outage cohort framed as fully cycled through retention; no further headwind expected.
Operating margin expanded modestly; FY guide held on revenue.

Prior · FY25-Q4

Called 2026-03-04

Net new ARR softer than the prior trailing pace; management attributed part of the softness to the lingering effect of the July 2024 outage on enterprise deal cycles. Module adoption still the strategic narrative. Margin expansion held.

Net new ARR softer than prior trailing pace; management attributed it to elongated enterprise deal cycles post-outage.
Module adoption (identity, cloud) framed as the strategic engine — qualitative metrics emphasised.
Operating margin expansion held; FY guide maintained.
Customer commitment package — pricing concessions for multi-year — called out as a retention tool.

New this quarter

net new arr normalisingidentity protectionoutage cohort cycledoperating margin expansion

Dropped from prior

net new arr softerdeal cycles elongatedcommitment packageoutage overhang

Publisher summary. Structured editorial commentary, not a verbatim transcript.

Investor page ↗

Recent insider activity

5 insider sales on the tape

· last 6 weeks

Net 30-day flow: −$1.1M
Distinct insiders: 5
Of which planned: 100%

Latest filings

Elena Petrova · Chief Product Officer
Filed May 11, 2026
−$308K
Plan sell1.3K sh
Sofia Alvarez · EVP Engineering
Filed May 4, 2026
−$292K
Plan sell1.2K sh
Marcus Whitfield · Director
Filed Apr 26, 2026
−$275K
Plan sell1.1K sh
Priya Ramesh · Director
Filed Apr 21, 2026
−$259K
Plan sell1.1K sh
Daniel O'Connor · General Counsel
Filed Apr 15, 2026
−$372K
Plan sell1.5K sh

Public Form 4 record. Plan-scheduled sales () are flagged so they don't read as conviction sales.

EDGAR ↗

& borrow

Crowded short setup on CRWD — squeeze risk in both directions

Crowded short

on the borrow

Short interest is 23.5% of float with 84% utilization and rising borrow cost — the kind of crowded-short profile that historically reads as elevated volatility around CRWD. Cuts both ways: a rally forces covering, a fundamental miss feeds the thesis.

: 23.54%
: 7.7d
: 29.6%
: 84%

Public short-interest disclosure (Reg SHO) and securities-lending read. The pressure label is publisher commentary, weighted into the verdict — not a directional call.

FINRA ↗

Government activity

CRWD has a notable U.S. government footprint

Federal presence

footprint

Cumulative U.S. government awards on record total $88M — an meaningful federal contract footprint that reads as structural recurring revenue (security clearance, FedRAMP authorisation, and multi-year IDIQ vehicles are all moats that take years to replicate).

: $88M
Net congressional flow: −$4M
Disclosures: 5

Recent STOCK Act disclosures

Rep. Sample Member-C · House
Traded May 2, 2026
−$250,001–$500,000
Sell
Sen. Sample Member-F · Senate
Traded Apr 26, 2026
−$50,001–$100,000
Sell
Sen. Sample Member-E · Senate
Traded Apr 19, 2026
−$15,001–$50,000
Sell
Rep. Sample Member-H · House
Traded Apr 11, 2026
−$1,000,001–$5,000,000
Sell
Sen. Sample Member-G · Senate
Traded Apr 2, 2026
−$100,001–$250,000
Sell

Public-record STOCK Act disclosures and federal contract awards. The pattern label is publisher commentary on the data — apolitical and not a directional call.

Quiver ↗

& positioning

Call-side conviction on CRWD — premium is leaning bullish

Bullish conviction

Call-side conviction

Notable call-side prints account for $13.3M of $13.3M in total premium on CRWD — the kind of one-sided tape that reads as institutional positioning for upside. Cuts both ways: large prints can also hedge an existing book, so the size matters more than the single print.

: $13.3M
: 75% / 25%
Bull / bear premium: 100% / 0%
Largest single print: $3.38M

Largest prints · CRWD

CRWD 2026-06-19 P217
PUT·bullish·2026-05-12
$3.38M
CRWD 2026-06-19 C265
CALL·bullish·2026-05-14
$3.33M
CRWD 2026-06-19 C265
CALL·bullish·2026-05-11
$3.30M
CRWD 2026-06-19 C265
CALL·bullish·2026-05-10
$3.29M

Public OPRA prints filtered to large, premium-weighted sweeps. The conviction label is publisher commentary — a confirmation read, not a directional call.

CBOE ↗

change

Substantial rewrite in CRWD's latest 10-K

Substantial edit

Substantial language change

CRWD’s latest 10-K reads 21.6% different from the prior comparable filing (0001535527-25-000009) — edits concentrated in Item 7 MD&A. The research finds material rewrites of risk-factor and MD&A language historically predict underperformance, on the read that management quietly tweaks the wording before the market reprices.

Form: 10-K
Filed: Mar 5, 2026
Δ vs prior: 21.6%
Sections moved: 1

Per-section delta

Item 7 MD&A
MD&A — narrative discussion of results and forward posture
Δ 21.6%
Material

Year-over-year shingle-cosine diff of / Risk Factors and MD&A. Material edits historically predict underperformance — publisher commentary on a public filing, not a directional call.

EDGAR ↗

Trim

AI · CRWD

Evidence is mildly unfavourable; risks rising.

63%

trajectory

Changed to Trim 3 cycles ago (from Hold)

HoldJul 22
HoldJul 23
TrimJul 24
TrimJul 25
TrimJul 26
TrimJul 27

Last 6 cached cycles. Each cycle is the same impersonal verdict shown on the profile that day — calls move as the evidence does.

On balance the signal composite for CRWD (synthetic fixture) reads neutral (-0.14). The verdict reflects the weighted blend of 7 signals against the current macro backdrop.

Verdict-stage steelman

If we're wrong, this is why

The strongest argument against the Trim read on CRWD (synthetic fixture) is earnings-call sentiment: Latest call (FY26-Q1) reads as constructive — guidance: maintained.

Why the call still landed on Trim

That argument is real, but the weighted composite of -0.14 and 71% directional agreement across the signal set — anchored by quality / momentum / value composite — still tilts the read to Trim. A revision would need the opposing signal to broaden, not stay isolated.

Published whether the call is high- or low-confidence — so the bear side is never invisible.

Conditions to watch — not predictions.

strengthens read
If CRWD gross margin rises above 55%
Observe
next 10-Q gross-margin disclosure on the income statement
Horizon
next print
strengthens read
If the short interest & borrow signal flips positive for two consecutive cycles
Observe
Short interest & borrow score in the per-ticker signal report
Horizon
within 2 reporting cycles
strengthens read
If the 10-year Treasury yield falls below 3.55%
Observe
FRED DGS10 daily series
Horizon
within 90 days

14 claims · 7 sources

Quality / Momentum / Value composite
Computed
- quality — -0.228
- momentum — 0.328
Lazy Prices (10-K text change)
Primary filing
- formType — 10-K
- filedAt — 2026-03-05
Opportunistic insider buys
Insider filing
- net30dValueUsd — -1133645
- transactionCount — 5
Short interest & borrow
Market data
- shortInterestPctFloat — 23.54
- daysToCover — 7.7
Earnings-call sentiment
Computed
- available — true
- model — curated-tone (FinBERT in prod)
Government activity
Public record
- govContractAwardsUsd — 88000000
- congressTradeCount — 5
Options flow
Market data
- printCount — 4
- totalPremiumUsd — 13300582

Compare 4 side by side

Same impersonal verdict shown on each profile page, surfaced for discovery. The order does not account for your positions or concentration. Browse the full list on the screener.

What this profile tracks

PriceDaily move and a session .
Filings / text diffs and material .
Insider and sales.
Short side, , and — squeeze pressure flagged.
Government congressional disclosures and awards.
OptionsLarge prints, weighted by — call / put split and conviction tag.
SentimentAggregated, decayed .
NewsCurated wires and press releases.
AI takesAsk the assistant — it knows you're on CRWD.