11:24 AM EDT, 08/28/2025 (MT Newswires) -- CrowdStrike ( CRWD ) reported strong financial results for its Q2 of fiscal year 2026, exceeding expectations for both revenue and earnings, Wedbush said in a note Thursday.

CrowdStrike ( CRWD ) reported quarterly revenue of $1.17 billion and annual recurring revenue of $4.66 billion, both above expectations, driven by a surge in $10 million-plus deals, record net new annual recurring revenue of $221 million, and growing adoption of its Falcon Flex subscription model, Wedbush said.

CrowdStrike's ( CRWD ) management said it expects net new ARR growth of 40% in the second half of fiscal 2026, driven by strength in its Cloud, Identity and security information and event management, or SIEM products, as well as record adoption of its Charlotte AI tools. The company also announced its acquisition of Onum to bolster its next-generation SIEM capabilities.

For the fiscal year 2026, CrowdStrike ( CRWD ) slightly increased its revenue guidance to a range of $4.75 billion to $4.81 billion and raised its non-GAAP earnings per share guidance to between $3.60 and $3.72. Management said it expects net new ARR growth to accelerate by 40% year-over-year in the second half of the fiscal year, according to the note.

Wedbush maintained an outperform rating on CrowdStrike ( CRWD ) and lowered its price target to $525 from $575.

Shares of the company were up more than 3% in recent Thursday trading.

Price: 435.44, Change: +12.83, Percent Change: +3.04