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CrowdStrike Holdings Inc. (CRWD) reported a record-breaking second quarter in 2023, with significant growth in revenue and Annual Recurring Revenue (ARR). The company, based in Austin, Texas, expects to reach $20 billion in ARR by the end of the decade, surpassing its previous $10 billion goal.
During a recent shareholder meeting, CrowdStrike announced new AI-driven solutions and its acquisition of Pangea, a company focused on AI security. Following these announcements, shares surged over 10% with trading volume nearly tripling the usual rate.
CrowdStrike utilizes a unique AI platform named “Falcon,” designed for endpoint security across various devices. The company’s subscription model, Falcon Flex, is a key driver for customer retention and steady revenue growth.
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