CRWD

크라우드스트라이크
CrowdStrike Holdings, Inc. · CIK 1535527
CRWD 리스크 변화 알림 받기
이번 보고서
2026.07 분기보고서
10-Q · 기간 말 2026. 7. 31. · 제출 2026. 8. 27.
비교 기준
2026.04 분기보고서
10-Q · 기간 말 2026. 4. 30.
SEC 원문 ↗
0
새 리스크 항목
0
신규 문단
11
수정 문단
0
삭제
+0%
분량 변화
AI 한국어 요약

한 줄 요약

외화 비용 헤지(선물환 계약)를 새로 시작하면서 헤지 실패 리스크를 추가했고, AI 관련 리스크(AI를 이용한 공격, 에이전틱 AI, 주(州) AI 규제)를 더 강조했습니다.

주목할 변화

  • 신규외화 헤지 도입과 헤지 실패 위험외화 표시 영업비용 일부를 헤지하려고 선물환 계약을 체결했다고 처음 밝혔습니다. 동시에 헤지가 효과적이지 않을 수 있고, 거래상대방 신용위험·결제 시 현금흐름 영향·예상과 다른 환율 움직임 때문에 손실이 날 수 있다고 경고했습니다. 원문: "foreign currency forward contracts intended to hedge a portion of these expenses", "could render our hedging strategies ineffective or result in losses."
  • 강화AI를 활용한 사이버공격 고도화보안회사로서 공격 표적이 된다는 리스크에, 공격자가 AI를 활용하면서 공격이 점점 정교해지고 있다는 문장이 추가됐습니다. 원문: "increasingly more sophisticated as threat actors leverage AI technologies."
  • 강화'에이전틱 AI'를 리스크 범위에 포함제품·운영에 쓰는 AI를 기존 '생성형 AI'에서 '생성형 및 에이전틱 AI'로 넓혔습니다. 규제 감독, 소송, 윤리 문제와 상당한 자원 투입이 필요하다는 경고가 에이전틱 AI에도 적용됩니다. 원문: "generative and agentic AI."
  • 강화미국 주(州) AI 규제 확산AI 법을 제정한 주로 일리노이와 뉴욕이 추가됐습니다. 입법 움직임에 대한 표현도 "several more have proposed"에서 "widespread proposals"로 강해졌습니다.
  • 신규제품 결함 사례 교체: LogScale 취약점제품 결함 사례가 2025년 2월 Falcon Linux 센서 TLS 문제에서 2026년 4월 LogScale의 경로 탐색(path traversal) 취약점으로 바뀌었습니다. 회사는 보안 패치와 권고문을 냈다고 밝혔습니다. 원문: "a path traversal vulnerability that impacted certain versions of LogScale."

읽는 법

가장 실질적인 변화는 외화 헤지 도입입니다. 해외 매출 비중이 상반기 기준 약 35%로 늘어난 가운데 환율 변동 관리를 위한 장치를 새로 마련했고, 그 장치 자체도 손익 변동 요인이 될 수 있다는 점을 공시한 것입니다. AI 관련 문구 강화는 AI가 회사에 기회(제품 기능)이면서 공격 고도화와 규제 확대라는 리스크도 된다는 인식을 보여줍니다. 참고로 유통주식 수가 약 2.5억 주에서 약 10.2억 주로 크게 늘었지만, 이번 변경 내역에는 그 이유가 나와 있지 않으므로 보고서 본문에서 따로 확인하는 것이 좋습니다.

원문 비교
  1. 수정We have a history of losses, and while we have achieved profitability in certain periods, we may not be able to achieve or sustain profitability in the future.
    We have incurred net losses each year prior to fiscal 2024, and we may not achieve or maintain profitability in the future. We experienced net losses of $162.5 million and $15.2 million for fiscal 2026 and 2025, respectively, and net income of $72.2 million for fiscal 2024. As of April 30, July 31, 2026, we had an accumulated deficit of $1.3 $1.2 billion. While we have experienced significant growth in revenue in recent periods, and have achieved profitability during certain periods, including the first quarter and second quarters of fiscal 2027 and fiscal 2024, we cannot assure you when or whether we will reach sustained profitability. We also expect our operating expenses to increase in the future as we continue to invest for our future growth, which will negatively affect our results of operations if our total revenue does not increase. We also have incurred and expect to continue to incur significant additional legal, accounting, and other expenses as a public company. Any failure to increase our revenue as we invest in our business or to manage our costs could prevent us from achieving or maintaining profitability or positive cash flow.
  2. 수정If 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.
    Real or perceived defects, errors or vulnerabilities in our Falcon platform and cloud modules, the failure of our platform to detect or prevent incidents, including advanced and newly developed attacks, misconfiguration of our solutions, or the failure of customers to take action on attacks identified by our platform could harm our reputation and adversely affect our business, financial position 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 that are not detected until after deployment. For example, the July 19 Incident harmed our brand and reputation, business and results of operations. In addition, As another example, we identified a transport layer security issue path traversal vulnerability that impacted certain Falcon Linux sensors, versions of LogScale, which led us to release a security fix and publish a security advisory to remediate the matter in February 2025. April 2026. If we fail to timely detect defects or errors before deployment in the future, our brand and reputation, business and results of operations will suffer further. We cannot assure you that our products will detect all cyberattacks, especially in light of the rapidly changing security threat landscape that our solution seeks to address. Due to a variety of both internal and external factors, including, without limitation, defects or misconfigurations of our or third-party solutions, our solutions could be or become vulnerable to security incidents (both from intentional attacks and accidental causes) that cause them to fail to secure endpoints and detect and block attacks. Furthermore, any defects, errors or vulnerabilities in third-party technology or solutions we rely on could result in disruptions to our operations and adversely impact our business, financial condition and results of operations. In addition, because the techniques used by computer hackers to access or sabotage networks and endpoints change frequently and generally are not recognized until launched against a target, there is a risk that an advanced attack could emerge that our cloud native security platform is unable to detect or prevent until after some of our customers are affected. Additionally, our Falcon platform may falsely indicate a cyberattack or threat that does not actually exist, which may lessen customers’ trust in our solutions.
  3. 수정As a cybersecurity provider, we have been, and expect to continue to be, a target of cyberattacks. If our or our service providers’ internal networks, systems, or data are or are perceived to have been compromised, our reputation may be damaged and our financial results may be negatively affected.
    It is virtually impossible for us to entirely eliminate the risk of such attacks, compromises, interruptions in service, or other security incidents affecting our internal systems or data, or that of our third-party service providers and vendors. Organizations are subject to a wide variety of attacks on their supply chain, networks, systems, and endpoints, and techniques used to sabotage or to obtain unauthorized access to networks in which data is stored or through which data is transmitted change frequently. Such attacks are becoming increasingly more sophisticated as threat actors leverage AI technologies. Furthermore, employee error or malicious activity could compromise our systems. As a result, we may be unable to anticipate these techniques or implement adequate measures to prevent an intrusion into our networks, which could result in unauthorized access to customer data, intellectual property including access to our source code, and information about vulnerabilities in our product, which in turn, could reduce the effectiveness of our solutions, or lead to cyberattacks or other intrusions of our customers’ networks, litigation, governmental audits and investigations and significant legal fees, any or all of which could damage our relationships with our existing customers and could have a negative effect on our ability to attract and retain new customers. We have expended, and anticipate continuing to expend, significant resources in an effort to prevent security breaches and other security incidents impacting our systems and data. Since our business is focused on providing reliable security services to our customers, we believe that an actual or perceived security incident affecting our internal systems or data or data of our customers would be especially detrimental to our reputation, customer confidence in our solution, and our business.
  4. 수정Our 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 32%, 32%, 33% and 34% 35% of our total revenue from our international customers for fiscal 2024, fiscal 2025, fiscal 2026 and the three six months ended April 30, July 31, 2026, respectively. We are continuing to adapt to and develop strategies to address international markets and our growth strategy includes expansion into target geographies, but there is no guarantee that such efforts will be successful. We expect that our international activities will continue to grow in the future, as we continue to pursue opportunities in international markets. These international operations will require significant management attention and financial resources and are subject to substantial risks, including:
  5. 수정Our international operations and plans for future international expansion expose us to significant risks, and failure to manage those risks could adversely impact our business.
    Additionally, 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. In addition, an increasing portion of our operating expenses is incurred outside the United States; is denominated in foreign currencies, such as the Australian Dollar, British Pound, Canadian Dollar, Euro, Indian Rupee, and Japanese Yen; and is subject to fluctuations due to changes in foreign currency exchange rates. As part of our efforts to manage the variability of foreign currency-denominated operating expenses, we have entered into, and may in the future enter into, foreign currency forward contracts intended to hedge a portion of these expenses. However, our hedging activities may not be effective in meaningfully offsetting the adverse financial impact of foreign currency rate fluctuations. In addition, foreign currency derivative transactions involve risks, including counterparty credit risk, potential cash flow impact upon settlement, and the risk that foreign currency movements differ from our expectations or historical trends, which could render our hedging strategies ineffective or result in losses. If we become more exposed to currency fluctuations and are not able to successfully hedge against the risks associated with currency fluctuations, our results of operations could be adversely affected.
  6. 수정We are required to comply with stringent, complex and evolving laws, rules, regulations and standards in many jurisdictions, as well as contractual obligations, relating to data privacy and security. Any actual or perceived failure to comply with these requirements could have a material adverse effect on our business.
    Internationally, virtually every jurisdiction in which we operate has established its own data privacy and security legal framework with which we must comply. For example, we are required to comply with the European Union (“EU”) General Data Protection Regulation (“GDPR”) and its equivalent in the U.K. (“U.K. GDPR”), which impose stringent obligations regarding the collection, control, use, sharing, disclosure and other processing of personal data and create mandatory breach notification requirements under certain circumstances. While the GDPR and U.K. GDPR remain substantially similar for the time being, the U.K. government has adopted reforms to its data protection legal framework in its Data Use and Access Act 2025, which became law on June 19, 2025 (phasing (phased in between June 2025 and June 2026) and will introduce introduced significant changes from the GDPR. This may lead to additional compliance costs and could increase overall risk exposure as businesses may no longer be able to take a unified approach across the European Economic Area (“EEA”) and the U.K., and such businesses may need to amend their processes and procedures to align with the new framework. Implementing mechanisms to endeavor to ensure compliance with the GDPR and the U.K. GDPR may be onerous and expose businesses to divergent parallel regimes that may be subject to potentially different interpretations and enforcement actions for certain violations and related uncertainty. Failure to comply with the GDPR or the
  7. 수정We are required to comply with stringent, complex and evolving laws, rules, regulations and standards in many jurisdictions, as well as contractual obligations, relating to data privacy and security. Any actual or perceived failure to comply with these requirements could have a material adverse effect on our business.
    Failure to comply with the GDPR or the U.K. GDPR can result in significant fines and other liability, including, under the GDPR, fines of up to EUR 20 million (or GBP 17.5 million under the U.K. GDPR) or four percent (4%) of annual global revenue, whichever is greater. European data protection authorities have already imposed fines for GDPR violations of up to, in some cases, hundreds of millions of Euros.
  8. 수정We utilize AI, which could expose us to liability or adversely affect our business.
    We incorporate novel uses of AI technologies, including generative and agentic 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, as well as an evolving regulatory landscape. The introduction of AI, and particularly generative and agentic AI, a relatively new and emerging technology technologies in the early stages of commercial use, into new or existing products, and our operations, may result in new or enhanced governmental or regulatory scrutiny, litigation, confidentiality, ethical concerns, or other complications that could adversely affect our business, reputation, or financial results. For example, generative AI has been known to produce false or “hallucinatory” interferences or outputs, and certain generative AI uses machine learning and predictive analytics, which may be flawed, insufficient, of poor quality, reflect unwanted forms of bias, or contain other errors or inadequacies, any of which may not be easily detectable. Our customers or others may rely on or use this flawed content to their detriment, which may expose us to brand or reputational harm, competitive harm, and/or legal liability. In addition, the use of AI by other companies has resulted in, and may in the future result in, data breaches and cybersecurity incidents that implicate the personal information of AI users. Further, the use of AI presents emerging ethical, social, legal and other issues, and if we enable or offer solutions that draw scrutiny or controversy due to perceived or actual risks or impacts on customers or on society as a whole, we may experience brand or reputational harm, competitive harm, delays in customer purchasing decisions and/or legal liability. Our continued incorporation of AI, including generative and agentic AI, into our products and operations requires us to expend significant resources. If such investments do not deliver anticipated benefits or are not otherwise successful, our business and results of operations may be harmed.
  9. 수정We utilize AI, which could expose us to liability or adversely affect our business.
    The technologies underlying AI and its uses are subject to a variety of laws and regulations, including intellectual property, privacy, data protection cybersecurity, consumer protection, competition, and equal opportunity laws and regulations, and are expected to be subject to new laws and regulations or new applications of existing laws and regulations. AI is the subject of ongoing review by various U.S. governmental and regulatory agencies, and various U.S. states and other foreign jurisdictions are applying, or are considering applying, their cybersecurity and data protection laws to AI or are considering general legal frameworks for AI. For example, in the EU, the first set of provisions under the EU’s AI Act became effective in February 2025, with additional provisions becoming effective on later dates. The AI Act establishes, among other things, a risk-based governance framework for regulating AI systems in the EU by categorizing AI systems, based on the risks associated with such AI systems’ intended purposes, as creating unacceptable or high risks, with all other AI systems being considered low risk. This regulatory framework is expected to have a material impact on the way AI is regulated in the EU and beyond. As further indication of a trend in increased regulatory and legislative oversight of the use and development of AI, in 2024, California enacted a range of laws regulating the use and development of AI, which generally relate to transparency, privacy and fairness, among other concerns. Other states, including Texas, Colorado Colorado, Illinois, New York, and Utah, have also enacted AI-related laws, and several more there have proposed enacting been widespread proposals to enact such laws.
  10. 수정Sales of substantial amounts of our common stock in the public markets, or the perception that they might occur, could reduce the price that our common stock might otherwise attain and may dilute your voting power and your ownership interest in us.
    Sales of a substantial number of shares of our common stock in the public market, particularly sales by our directors, executive officers and significant stockholders, or the perception that these sales could occur, could adversely affect the market price of our common stock. As of May 28, August 20, 2026, we had 254,564,820 1,023,934,842 shares of common stock outstanding.
  11. 수정Our indebtedness could adversely affect our financial condition.
    As of April 30, July 31, 2026, we had $750.0 million principal amount of indebtedness outstanding (excluding intercompany indebtedness). Our indebtedness could have important consequences, including: