CRWD vs NOW

CrowdStrike reported a strong Q4 FY2026 with $1.31B total revenue (+23% YoY), $5.25B ending ARR (+24% YoY), positive GAAP net income ($38.7M) and record non-GAAP operating income ($325.8M) and free cash flow ($376.4M). The company emphasized AI as a core growth vector, launched Falcon AI Detection and Response (AIDR), achieved ISO/IEC 42001:2023 responsible AI certification, and expanded strategic partnerships (notably with Microsoft and VAST Data). Key customer and product proof points include NordVPN selecting CrowdStrike to power Threat Protection Pro and perfect results in the 2025 MITRE ATT&CK Enterprise Evaluations. Guidance for Q1 FY27 and FY27 includes total revenue and non-GAAP EPS ranges, reflecting continued bullish outlook tied to AI-driven product momentum and marketplace expansion.

ServiceNow presents a bullish AI-forward narrative: positioning itself as an "AI control tower" and highlighting product momentum (Now Assist, Workflow Data Fabric, Raptor, CPQ, Build Agent) and strategic moves (acquisitions of Moveworks, intent to acquire Armis and Veza). The company announced multiple partner integrations (Anthropic/Claude, OpenAI, Microsoft Agent 365, Figma) to bring foundation/frontier models and agent orchestration into its platform and announced programs (Build Program, Now Next AI, ServiceNow Store) to accelerate partner-built AI agents. Financially, Q4 2025 total revenue was $3,568M (20.5% YoY), non-GAAP gross margin 80.5%, non-GAAP operating income $1,101M, GAAP net income $401M, and non-GAAP free cash flow $2,032M. Guidance includes Q1 2026 subscription revenue of $3,650–3,655M and full-year 2026 subscription revenue $15,530–15,570M, and management links AI product adoption (Now Assist, Moveworks) to near-term guidance and long-term market opportunity.