Real company · filing evidence · no rating
CrowdStrike (CRWD)
Where AI sits in the product. Of the 55 AI sentences in the business section of its latest 10-K, 15 describe the AI carrying out a step itself (detecting and blocking threats) and 11 describe it helping a person (speeding up analysts’ investigations); the other 29 name AI without saying what it does. Labels by Claude Fable 5.1, with a reason for each.
Workflow evidence · 10-K Item 1
55 AI sentences in Item 1 (11,023 words) of the 10-K filed 2026-03-05 ↗, each labelled by Claude Fable 5.1 into AI that carries out a step, AI that helps a person do it, and AI named without either. Up to three of each are quoted, with the reason given for each label. The labelling can be wrong, which is why the sentences are shown.
AI does the step · 15
“CrowdStrike built the first, true, cloud-native platform with AI at the core, capable of harnessing vast amounts of security and enterprise data to drive real-time security decisions and response – stopping breaches at scale through a single lightweight sensor.”AI drives real-time security decisions and response, stopping breaches.
“We use this to train our AI to detect and prevent threats and drive workflow automation to give security teams machine speed advantage to stop adversaries.”AI detects and prevents threats and drives automation itself.
“This intelligence is used to train and refine our AI models, enabling the Falcon platform to provide real-time context on adversary behavior, inform security decisions, and automatically prevent threats across our customer base.”AI models automatically prevent threats across customer base.
AI helps a person · 11
“Using cloud-scale AI, our AI Security Cloud enriches and correlates trillions of cybersecurity events per week with indicators of attack, threat intelligence, and enterprise data (including data from across endpoints, workloads, identities, DevOps, IT assets, configurations and AI interactions).”AI enriches and correlates events; no action or decision stated.
“Charlotte AI, powered by high-fidelity data and continual training, reduces routine investigation workloads, bridging critical skills gaps for stretched teams.”Charlotte AI reduces investigation workload for security teams who still investigate.
“Next-Generation SIEM and Log Management : CrowdStrike’s Next-Gen SIEM and log management solutions deliver AI-driven detection, advanced data pipelining, centralized case management, investigation, and response capabilities, alongside high-performance log management for any data source.”AI-driven detection flags threats; investigation and response capabilities for analysts.
Generic · 29
“BUSINESS Overview 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.”Company history framing; no AI role in product described.
“When we started CrowdStrike, cyberattackers had an asymmetric advantage over legacy cybersecurity products that could not keep pace with rapid changes in adversary tactics, a dynamic that has intensified as adversaries increasingly leverage automation, identity abuse, and AI to operate at machine speed.”Industry commentary on adversaries using AI.
“We took a fundamentally different approach to solve this problem with the AI-native CrowdStrike Falcon cybersecurity platform, which serves as the operating system for cybersecurity.”'AI-native platform' marketing with no operating detail.
Claim evidence · earnings releases
8-K Exhibit 99.1, narrative text only: tables, safe harbor and the “About” paragraph removed. The counts cover the last eight releases, oldest first.
| Filed | AI / 1k words | Quantified |
|---|---|---|
| 2025-03-04 | 3.6 | 2/4 |
| 2025-05-07 | 4.3 | 0/2 |
| 2025-06-03 | 8.9 | 2/7 |
| 2025-08-27 | 4.5 | 0/7 |
| 2025-12-02 | 7.4 | 0/8 |
| 2026-03-03 | 3.5 | 1/5 |
| 2026-06-03 | 10.0 | 0/14 |
| 2026-08-26 | 10.6 | 0/9 |
From the 2026-08-26 release
no figure“The Mythos moment translated into mass-market acceptance that AI adoption needs security, and that's CrowdStrike.”
no figure“Every enterprise will run on AI, and securing it is the largest market opportunity in our history."”
Quarterly results
Each quarter links to the filing it came from. Q4 values are derived from the 10-K less the nine-month 10-Q.
| Quarter | Revenue | Gross margin |
|---|---|---|
| 2024-10-31 | $1.0B | 74.7% |
| 2025-01-31 | $1.1B | 74.2% |
| 2025-04-30 | $1.1B | 73.9% |
| 2025-07-31 | $1.2B | 73.6% |
| 2025-10-31 | $1.2B | 75.1% |
| 2026-01-31 | $1.3B | 76.1% |
| 2026-04-30 | $1.4B | 75.3% |
| 2026-07-31 | $1.5B | 74.6% |
What CrowdStrike’s filings show
CrowdStrike reported revenue of $5.4 billion over the four quarters to 2026-07-31, up 24.3% on the four quarters before. Gross margin over those four quarters was 75.2%: of each dollar of revenue, about 75 cents was left after the direct cost of delivering the product.
Item 1 of its 10-K filed 2026-03-05 runs to 11,023 words and contains 55 sentences that mention AI. 15 describe the AI carrying out a step itself, 11 describe it helping a person, and 29 name AI without saying what it does.
In the latest quarter, ending 2026-07-31, revenue was $1.5 billion: up 6.2% on the quarter before and up 25.8% on the same quarter a year earlier. Over the 8 quarters in the table, quarterly revenue ran from $1.0 billion to $1.5 billion.
Quarterly gross margin ranged from 73.6% to 76.1% over the same period. It was 74.6% in the latest quarter against 73.6% a year earlier, a change of +1.0 percentage points.
Across its last 8 earnings releases (2025-03-04 to 2026-08-26), 56 sentences mention AI and 5 of them carry a figure, about 9%. The four most recent average 7.9 AI mentions per 1,000 words, against 5.3 in the first four.
How to read this page
Reading the workflow evidence
A software company’s annual report opens with Item 1, a description of the business and its products. How Item 1 describes AI says something about where the AI sits in the customer’s work: whether the software carries out a step itself (detects and blocks the threat, routes the claim, closes the books) or helps a person do it faster (suggests, drafts, summarises).
These pages take every sentence in Item 1 of the latest 10-K that mentions AI and sort it into one of three groups: the AI carries out a step, the AI helps a person, or the sentence names AI without saying what it does. Each label comes with a short reason, and up to three sentences from each group are quoted so the sorting can be checked against the filing’s own words.
The sorting can be wrong, and one company’s count depends on how much of its business section it gives to AI. The quoted sentences are the evidence; the counts are a summary of them.
Reading the earnings-release language
Each quarter, US companies file their earnings press release with the SEC as an exhibit to a Form 8-K. The release is the company’s own account of the quarter, written for investors and the press. These pages count how often it mentions artificial intelligence, after removing the financial tables, the forward-looking-statements boilerplate, the “About the company” paragraph and the company’s own name.
Two counts are shown for each of the last eight releases. The first is AI mentions per 1,000 words of narrative text, which makes long and short releases comparable. The second is how many of the sentences that mention AI also carry a figure: a dollar amount, a percentage, a count of customers. “AI demand drove record data-centre revenue of $X” and “we continue to lead in AI” are both AI sentences; only the first gives a reader something to check against the financial statements.
The counts use generic AI vocabulary only, not product names, so companies that brand their AI differently are counted the same way. Example sentences from the latest release are quoted with and without a figure, so the counting can be checked by reading them.
Reading the quarterly results
Every figure in the quarterly table comes from the company’s own XBRL filings with the SEC: the structured data attached to each 10-Q and 10-K. Companies report the fourth quarter only as part of the full year, so the fourth-quarter figures are the annual 10-K total less the first nine months reported in the third-quarter 10-Q. Each quarter links to the filing it came from.
For software and services companies the table shows revenue and gross margin: revenue less the direct cost of delivering the product, as a share of revenue. AI features that run on rented computing show up in cost of revenue, so a product that leans harder on AI with no change in price tends to show in the gross margin before it shows anywhere else.
For companies that build or sell the hardware and capacity AI runs on, the table shows revenue, operating cash flow, capital expenditure and free cash flow (operating cash flow less capital expenditure and finance-lease principal payments). Data-centre spending appears as capital expenditure long before it appears as revenue, so cash flow during a build-out often looks very different from reported profit.
The three filings behind the evidence
The 10-K is the annual report. It holds the audited financial statements, the notes that explain the accounting choices behind them (including how long equipment is depreciated and which customers matter most), the risk factors, and Item 1, the company’s own description of its business and products. The 10-Q is the quarterly report: reviewed rather than audited financial statements for each of the first three quarters, with shorter notes.
The earnings release is filed as Exhibit 99.1 to a Form 8-K on the day a company reports its results. It is not audited and is written to present the quarter in the company’s preferred terms, which is why its language is worth reading next to the financial statements that follow it.
All three are free on the SEC’s EDGAR system. The financial figures are taken from the XBRL data companies attach to their 10-Q and 10-K, which tags each number with a standard accounting concept so that companies can be read the same way.
Questions about CrowdStrike’s filings
How often does CrowdStrike mention AI in its earnings releases?
In its four most recent earnings releases, CrowdStrike averaged 7.9 mentions of AI per 1,000 words of narrative text, compared with 5.3 in the four releases before them. Of the 56 AI sentences across all 8 releases, 5 include a figure such as a dollar amount or percentage.
How does CrowdStrike’s annual report describe its AI?
Item 1 of the 10-K filed 2026-03-05 has 55 sentences that mention AI: 15 describe the AI carrying out a step, 11 describe it helping a person, and 29 mention AI without saying what it does. Example sentences from each group are quoted on this page.
Where does this data come from?
From CrowdStrike’s filings on SEC EDGAR: the XBRL financial data in its 10-Q and 10-K reports, the text of those reports, and the earnings releases it files as exhibits to Form 8-K. The data was last pulled on 2026-10-30. Every quote and every quarter on this page links to its source filing.
Is this a rating or a recommendation?
No. This page shows what CrowdStrike disclosed and nothing else: no rating, score or view on the stock. It is part of a prototype and is not investment research.
Prototype · not investment research. Quotes are the filing’s own words, found by rule-based readers; each links to the filing so it can be checked. This page shows evidence only: the gauge’s rating for real companies is not published while the method is calibrated.