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Founded in 2011, CrowdStrike reinvented cybersecurity for the cloud and artificial intelligence (“AI”) era and transformed the way cybersecurity is delivered and experienced by customers. 10-K, Item 1
7 paragraphs in Risk Factors of the 10-K filed Mar 5, 2026 with nothing like them in the 10-K filed Mar 10, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 74 Technology companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
or data of our customers would be especially detrimental to our reputation, customer confidence in our solution, and our business.
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jurisdictions in which we operate, such procedures and controls may not be effective in ensuring compliance or preventing unauthorized transfers of personal data.
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In June 2025, we announced that our board of directors authorized a program under which we are authorized to repurchase up to $1.0 billion of our outstanding shares of common stock (the “Share Repurchase Program”). Such repurchases may be made from time to time using a variety of methods, including open market purchases, privately negotiated transactions and trading plans intended to qualify under Rule 10b5-1 under the Exchange Act. The Share Repurchase Program does not have a fixed expiration date and may be suspended or discontinued at any time. We are not obligated to use the Share Repurchase Program to acquire any specific amount of common stock. We intend to use the Share Repurchase Program opportunistically depending on market prices and other factors.
The timing and amount of any repurchases will be subject to liquidity, market and economic conditions, any applicable restrictions under future credit facilities, compliance with applicable legal requirements, and other relevant factors. Repurchases of shares of our common stock under the Share Repurchase Program will reduce the amount of cash we have available to fund working capital, repay debt, make capital expenditures and strategic acquisitions or pursue business opportunities, and for other general corporate purposes. The Share Repurchase Program may not enhance long-term stockholder value because the market price of our common stock may decline below the levels at which we repurchased shares and short-term stock price fluctuations could reduce the effectiveness of this program.
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sustained, we could be required to pay additional taxes, interest and penalties, which could result in one-time tax charges, higher effective tax rates, reduced cash flows and lower overall profitability of our operations.
Similar paragraph at 1 of 74 other Technology companies: PRead in the 10-K ↗
On July 4, 2025, tax reform legislation included in the One Big Beautiful Bill Act (the “OBBBA”) was enacted in the United States. The tax effects of the OBBBA have been accounted for in the second quarter of the fiscal year 2026. The OBBBA includes significant corporate tax reforms, including (i) the permanent reinstatement of deducting domestic research and development expenditures as incurred beginning in fiscal 2026 (under prior law such expenditures were capitalized and amortized over five years); (ii) the option to claim 100% accelerated depreciation deductions on qualified property; and (iii) international tax provisions modifying global intangible low-taxed income (“GILTI”), foreign-derived intangible income (“FDII”), and base erosion and anti-abuse tax (“BEAT”).
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Governmental authorities, certain investors, and other stakeholders continue to focus on, set and revise, expectations relating to corporate responsibility matters, both in the United States and internationally. Such expectations are evolving and may be contradictory. Our actions, undertakings and decisions in connection with corporate responsibility and/or sustainability-related initiatives, goals, or commitments, including whether to pursue them, and/or the extent to which we achieve them, may be challenged and could harm our reputation, adversely impact our ability to attract and retain employees or customers and expose us to increased scrutiny from investors, governmental authorities and others, or subject us to liability. Additionally, compliance with current or future legal requirements or stakeholder expectations regarding corporate responsibility and/or sustainability matters, including disclosure and reporting obligations, may result in increased costs and legal and operational risks. For example, the proliferation of regulations and guidance addressing corporate responsibility topics at various government levels has required and may continue to require significant effort and resources, and our efforts may not ensure compliance with evolving standards. Any such damage to our reputation, adverse impact to our ability to attract and retain employees or customers, increased scrutiny, exposure to liability and increased compliance costs may adversely impact our business, financial condition, or results of operations.
Similar paragraph at 1 of 74 other Technology companies: TWLORead in the 10-K ↗
23 paragraphs in the 10-Q filed Aug 27, 2026 with nothing like them in the 10-Q filed Jun 4, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceeds federally insured limits.
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Derivative transactions expose the Company to credit risk to the extent that the counterparties are unable to meet the terms of the arrangements. The Company mitigates this exposure by transacting with highly-rated counterparties under master netting arrangements that permit net settlement. The Company is not required to pledge, nor does it receive collateral in connection with these instruments.
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Derivative Contracts: The Company records derivative contracts at fair value as either assets or liabilities on its condensed consolidated balance sheets. For derivative contracts entered into in order to hedge a portion of the Company’s forecasted foreign currency denominated cash flow, which are designated as cash flow hedges, the unrealized gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income (loss) and reclassified into the financial statement line item associated with the underlying hedged transaction on the Company’s condensed consolidated statements of operations when the underlying hedged transaction is recognized in earnings. Cash flows from these hedges are classified on the condensed consolidated statements of cash flows in the same manner as the underlying transaction, which is within cash flows from operating activities.
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The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. The Company also formally assesses, both at the inception of the hedge, and on an ongoing basis, whether each derivative is highly effective in offsetting changes in cash flows of the hedged item. If the Company determines that a derivative is not highly effective as a hedge, or that a derivative has ceased to be a highly effective hedge, the Company will discontinue hedge accounting prospectively for the affected derivative.
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During the second quarter of fiscal 2027, the Company entered into foreign currency forward contracts to hedge a portion of its forecasted foreign currency denominated cash flow, with a maximum maturity of 3 months. These foreign currency forward contracts are recorded at fair value. As of July 31, 2026, the notional amount of the Company’s outstanding foreign currency forward contracts designated as cash flow hedges was $ 57.9 million.
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As of July 31, 2026, there were $ 0.5 million of unrealized gains in accumulated other comprehensive income (loss) related to the Company’s cash flow hedges, all of which are expected to be recognized into earnings within the next 12 months.
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Losses related to the Company’s cash flow hedges reclassified from accumulated other comprehensive income (loss) into the condensed consolidated statements of operations consisted of the following (in thousands):
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There was no ineffectiveness in the Company’s cash flow hedging program for the three months ended July 31, 2026.
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• On August 5, 2024, a putative class action was filed against CrowdStrike, Inc. in the Western District of Texas in relation to passenger airline flight disruptions allegedly caused by the July 19 Incident. On August 19, 2024, a second putative class action was filed against the Company and CrowdStrike, Inc. in the Western District of Texas, making similar allegations in relation to passenger airline flight disruptions. On November 6, 2024, these
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In July 2026, the Company signed a definitive agreement to acquire the technology assets of XM Cyber Ltd., a Schwarz Digits company recognized for its advanced attack path visualization and offensive simulation technologies. At closing, the Company expects to pay consideration of $ 145.0 million in a combination of cash and shares of the Company’s Class A common stock, plus additional shares of the Company’s Class A common stock in an amount to be determined on the closing date. The transaction is expected to close in the second half of fiscal 2027, subject to customary closing conditions and regulatory requirements.
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Three Months Ended July 31, Change Change Six Months Ended July 31, Change Change
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Subsequent to July 31, 2026, we have committed to an additional $2.9 billion of non-cancelable purchase obligations from fiscal 2027 to fiscal 2034.
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In July 2026, we signed a definitive agreement to acquire the technology assets of XM Cyber Ltd., a Schwarz Digits company recognized for its advanced attack path visualization and offensive simulation technologies. At closing, we expect to pay consideration of $145.0 million in a combination of cash and shares of our Class A common stock, plus additional shares of our Class A common stock in an amount to be determined on the closing date. The transaction is expected to close in the second half of fiscal 2027, subject to customary closing conditions and regulatory requirements.
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Historically, nearly all of our sales contracts have been denominated in U.S. dollars. A portion of our operating expenses are incurred outside the United States, denominated in foreign currencies, and subject to fluctuations due to changes in foreign currency exchange rates. The functional currencies of our foreign subsidiaries are generally the country’s local currency. Foreign currency transaction gains and losses are recorded to other income (expense), net.
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To manage the risk of cash flow variability of these operating expenses, we enter into derivative contracts to hedge a portion of our forecasted foreign currency denominated cash flow. These foreign currency forward contracts have a maximum maturity of 3 months as of July 31, 2026 and are designated as cash flow hedges to protect our earnings subjected to foreign currency risk.
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A hypothetical 10% appreciation in the relative value of the U.S. dollar against such foreign currencies as of July 31, 2026 would not have a material impact to our results of operations or cash flows.
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To expand our customer base, we need to convince potential customers to allocate a portion of their discretionary budgets to purchase our Falcon platform. Our sales efforts often involve educating our prospective customers about the uses and benefits of our Falcon platform. Enterprises and governments that use legacy security products, such as signature-based or malware-based products, firewalls, intrusion prevention systems, and antivirus, for their IT security may be hesitant to purchase our Falcon
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such errors or other problems that may be identified, could damage our reputation, negatively affect our relationship with our customers or otherwise harm our business, results of operations and financial condition.
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Our future growth is dependent upon our ability to continue to meet the needs of new customers and the expanding needs of our existing customers as their use of our solutions grow. As our customers gain more experience with our solutions, the number of endpoints and events, the amount of data transferred, processed and stored by us, the number of locations where our platform
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During the three months ended July 31, 2026, certain of our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted a “Rule 10b5-1 trading arrangement” (as defined in Regulation S-K Item 408) for the sale of shares of our common stock, as set forth below, in amounts and prices determined in accordance with a formula set forth in each such plan:
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Plans Name and Title Action Date Rule 10b5-1(1) Non-Rule 10b5-1(2) Number of Shares to be Sold (3) Expiration(4) Michael Sentonas, President Adoption July 1, 2026 X Up to 241,944 Earlier of when all shares under the plan are sold and July 1, 2027 Burt Podbere, Chief Financial Officer Adoption June 24, 2026 X Up to 480,000 Earlier of when all shares under the plan are sold and September 27, 2027 Anurag Saha, Chief Accounting Officer Adoption July 2, 2026 X Up to 114,868 Earlier of when all shares under the plan are sold and July 7, 2027 Gerhard Watzinger, Chairman Adoption June 17, 2026 X Up to 120,000 Earlier of when all shares under the plan are sold and September 16, 2027 Johanna Flower, Director Adoption July 6, 2026 X Up to 30,704 Earlier of when all shares under the plan are sold and August 30, 2027 Sameer K. Gandhi, Director Adoption June 25, 2026 X Up to 208,000 Earlier of when all shares under the plan are sold and September 30, 2027
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(2) Not intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
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(4) Subject to further early termination for certain specified events as set forth therein.
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Item 1A of the 10-Q filed Aug 27, 2026 against Item 1A of the 10-K filed Mar 5, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
The first 22 of 29 are shown (at most 12 of each type).
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