CrowdStrike Holdings, Inc. Class A Common StockCRWD

Credit and liquidity · Debt service and covenant compliance

We may not be able to generate sufficient cash to service all of our indebtedness, including the Senior Notes, and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.

International and currency · International operations and emerging markets

Our international operations and plans for future international expansion expose us to significant risks, and failure to manage those risks could adversely impact our business. We derived approximately 33%, 32%, and 32% of our total revenue from our international customers for fiscal 2026, fiscal 2025, and fiscal 2024, respectively.

Market and investment · Market volatility and economic cycles

Any deterioration in general economic conditions, including as a result of the geopolitical environment or changes and uncertainty regarding trade policies or tariffs, the outbreak of diseases or other public health crises, volatility in the banking and financial services sector, or inflation may cause our current and prospective customers to delay or cut their overall security and IT operations spending.

Capital structure and performance · Debt management and refinancing

As of January 31, 2026, we had $750.0 million principal amount of indebtedness outstanding (excluding intercompany indebtedness). Our indebtedness could have important consequences, including limiting our ability to obtain additional financing.

International and currency · Foreign exchange and currency exposure

Nearly all of our sales contracts are currently denominated in U.S. dollars. However, a strengthening of the U.S. dollar could increase the cost of our solutions to our international customers, which could adversely affect our business and results of operations.

Cybersecurity and data protection · Third party data security and vendors

We utilize third-party service providers to, among other things, host, transmit, or otherwise process electronic data in connection with our business activities, including our supply chain, operations, and communications. Our third-party service providers and other vendors have faced and may continue to face cyberattacks.

Technology infrastructure · Technology systems and infrastructure failure

We have experienced, and expect that in the future we may experience interruptions, delays and outages in service and availability from time to time due to a variety of factors, including infrastructure changes, human or software errors, website hosting disruptions and capacity constraints.

Digital transformation and innovation · Artificial intelligence and automation

We incorporate novel uses of AI technologies, including generative AI, into our products and operations, such as our Falcon platform. AI is complex and rapidly evolving, and we face significant competition from other companies who may incorporate AI into their products more quickly or more successfully than us.

Core operations · Quality control and product defects

If our solutions fail or are perceived to fail to detect or prevent incidents or have or are perceived to have defects, errors, or vulnerabilities, our brand and reputation would be harmed, which would adversely affect our business and results of operations. Because our cloud native security platform is complex, it has contained, and may in the future contain defects, errors or vulnerabilities.

Human capital and workforce · Key personnel dependence and succession

Our future success is substantially dependent on our ability to attract, retain, and motivate the members of our management team and other key employees throughout our organization. In particular, we are highly dependent on the services of George Kurtz, our President and Chief Executive Officer, who is critical to our future vision and strategic direction.

Human capital and workforce · Talent acquisition and retention

There is significant competition for personnel with the skills and technical knowledge that we require across our technology, cyber, sales, professional services, and administrative support functions. Competition for these personnel is intense, especially for experienced sales professionals and for engineers experienced in designing and developing cloud applications and security software.

Supply chain and procurement · Supplier operation and dependance

We rely on a limited number of suppliers for certain components of the equipment we use to operate our cloud platform. We generally purchase these components on a purchase order basis, and do not have long-term contracts guaranteeing supply.

Data and privacy · Cross border data transfer regulations

Legal developments in the EEA have created complexity and uncertainty regarding processing and transfers of personal data from the EEA to the United States and other so-called third countries outside the EEA.

Tax and financial reporting · Tax compliance and changes in tax law

We are subject to federal, state, and local income, sales, and other taxes in the United States and income, withholding, transaction, and other taxes in numerous foreign jurisdictions. Significant judgment is required in evaluating our tax positions and our worldwide provision for taxes.

Legal and litigation · Intellectual property disputes

Claims by others that we infringe their proprietary technology or other intellectual property rights could result in significant costs and substantially harm our business, financial condition, results of operations, and prospects.

Industry regulation · Regulatory compliance and changes

Failure to comply with laws and regulations applicable to our business could subject us to fines and penalties and could also cause us to lose customers or negatively impact our ability to contract with customers, including those in the public sector.

Innovation and product development · Intellectual property protection and infringement

The success of our business depends in part on our ability to protect and enforce our intellectual property rights. We rely on a combination of patent, copyright, trademark and trade secret laws, as well as confidentiality procedures and contractual provisions, to establish and protect our intellectual property rights.

Strategic execution · Strategic transformation and turnaround risks

We have experienced rapid growth in recent periods and we expect to continue to invest broadly across our organization to support our growth. Although we have experienced rapid growth historically, we may not sustain our current growth rates and our investments to support our growth may not be successful.

Strategic execution · Merger acquisition and divestiture risks

Future acquisitions, strategic investments, partnerships, or alliances could be difficult to identify and integrate, divert the attention of key management personnel, disrupt our business, dilute stockholder value and adversely affect our business, financial condition, and results of operations.

Geopolitical and trade · Trade policies tariffs and sanctions

We are subject to governmental export controls and economic sanctions laws that could impair our ability to compete in international markets and subject us to liability if we are not in full compliance with applicable laws.