Cloudflare vs CrowdStrike
22 straight quarters of growth — the reason it is 3 points short is all in the demerits. A great business — but the blitz phase is over.
Cloudflare by 5
| Item | Max | Cloudflare | CrowdStrike |
|---|---|---|---|
| Blitz Index total | / 100 | 65 | 60 |
| Grade | — | B | B |
| A · Speed | / 25 | 19 | 13 |
| B · Moat | / 60 | 39 | 37 |
| C · Creative destruction | / 15 | 11 | 10 |
| D · Demerits | / 30 | -4 | 0 |
The success line is 65. Demerits (section D) are subtracted; a demerit total of 15 or more flags a company for BlitzFailing watch. Scores as of the 2026 Q4 review.
Verdict — business structure only
Cloudflare leads (65 vs 60), and the gap is speed (19 vs 13). Cloudflare grows +35.9% in Q2 with 22 straight quarters of growth, while CrowdStrike's +25.8% marks a solid growth machine whose blitz phase is over. The moats are close (39 vs 37): Cloudflare's is network retention (DBNRR 120%, RPO $2.73B, 4,698 $100k+ customers) against CrowdStrike's Threat Graph data network plus multi-module lock-in. Creative destruction is close (11 vs 10): Workers + Workers AI as the Agentic Internet second curve, against legacy on-prem AV already displaced as the enterprise default. CrowdStrike is clean on demerits (0) while Cloudflare carries −4 (founder voting control, 20.8% SBC) — the structural difference is a network that sits in front of the internet against a sensor that sits on the endpoint, and Cloudflare's lead is entirely its speed, since CrowdStrike wins the demerits column.
Key figures
| Cloudflare | Figure |
|---|---|
| Growth | Q2 +35.9% YoY; 22 straight quarters |
| RPO | $2.73B (+35%) |
| $100k+ customers | 4,698 (+26.5%) |
| CrowdStrike | Figure |
|---|---|
| TTM revenue | ~$5.4B |
| Growth | Q2 FY27 +25.8% YoY |
Key figures are from the companies' published score files (the scorecard's English summary). A figure is shown only where the score file states it.
Full scorecards: Cloudflare — Blitz Index 65 · CrowdStrike — Blitz Index 60
Run your own pairing: open this pair in the interactive compare tool, or pick any two of the 157 scored companies.
How to read this
Both companies passed the same two gates before scoring: real product-market traction (G1), and a ten-year market ceiling of at least ten times current revenue (G2). The Blitz Index then grades speed (25), moat (60) and creative destruction (15), and subtracts BlitzFailing demerits (up to −30) for debt, revenue quality, governance and regulatory cost. The model is frozen at v1.0; past scores are never silently rewritten. Our own pre-registered tests found the score measures business quality — it does not predict stock returns.
Research only — not investment advice. Scores measure blitzscaling strategy from public data. Not a recommendation to buy, sell, or hold any security.