Overview

• The company guided to net-new ARR growth above 20% in fiscal 2027 and reiterated a $10 billion subscription ARR goal for fiscal 2031, with coverage also noting a longer-term $20 billion target for fiscal 2036.
• Shares rose about 13% during the Fal.Con investor briefing after executives outlined accelerated growth and a broader push into AI across the platform.
• Recent results underscored momentum: Q2 fiscal 2026 revenue reached $1.17 billion, ending ARR was $4.66 billion, net-new ARR hit a record $221 million, non-GAAP operating income was $255 million, and free cash flow totaled $284 million.
• Platform expansion includes deeper agentic AI, rising module adoption, scaling next-generation SIEM and identity offerings, and more than 1,000 Falcon Flex customers that typically exceed $1 million in ARR.
• Analysts updated views following the event, with Morgan Stanley's Keith Weiss raising the price target to $475 with an Equal Weight rating, while last year's outage and related costs remain a noted risk.