CROWDSTRIKE: GREAT EARNINGS, TOUGH EXPECTATIONS

Still the leader of cybersecurity... but royalty comes at a price.

CrowdStrike just reported its Q1 FY2026 earnings, and the numbers were as strong as ever. We’re talking about a company growing revenue at nearly 20% growth YoY while operating at scale with massive free cash flow and some of the strongest margins in all of SaaS and Cybersecurity. That’s not easy when you're already running a $4.7B revenue base. But when you’re priced for perfection, at 25x EV/NTM Sales, even perfection isn't always enough to move the stock upward.

Let’s get into the numbers first. But before we do, full disclosure:

$CRWD is roughly 3% of my portfolio with an adjusted cost basis of <$150 per share. This is calculated against entries and exits for trading (non-core) positions.

You can see my entire portfolio and real time trades on SavvyTrader. Follow the link Hidden Edge Main Portfolio.

The Core Metrics

CrowdStrike reported:

• Revenue: $1.103B (Est. $1.105B) [+19.8% YoY]

• EPS: $0.73 (Est. $0.67)

• Free Cash Flow: $279M

• ARR: $4.44B [+22% YoY]

• Adj. Operating Margins: 18.2%