CrowdStrike (CRWD) reported significant growth in its CRWD Falcon Flex subscription model during the third quarter of fiscal 2026, generating over $1.35 billion in annual recurring revenue (ARR), reflecting a more than 200% year-over-year increase. The company’s total ARR reached $4.92 billion, up 23% from the prior year, highlighted by $265 million in record net new ARR. Key expansion deals include a major European bank’s renewal of 500,000 workload endpoint deployments and an eight-figure contract with a global healthcare customer.
Additionally, re-Flex activity is on the rise, with 10 customers doubling their spending after initial contracts, indicating strong platform value. The Zacks Consensus Estimate projects a 21% year-over-year revenue increase for both fiscal 2026 and 2027, despite some competitive pressure from Palo Alto Networks and SentinelOne, which reported ARR growths of 29% and 23%, respectively, during their recent fiscal periods.
