INDEX / DIRECTORY / CROWDSTRIKE / ECONOMIC

CrowdStrike ECONOMIC

ECONOMIC AUDIT UPDATED 2026-09-12
Economic Score 6.20 /10 C CrowdStrike - BDS-1000 530
Economic 6.20

Evidence-only forensic audit. Scoring happens downstream - see the main dossier for the composite assessment.

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Supply Chain & Sourcing Relationships

CrowdStrike’s documented Israel-related activity concerns cybersecurity software, acquired entities, R&D, and a reseller channel rather than physical-goods procurement or sourcing 1, 2, 3, 4.

CrowdStrike completed its acquisition of 100% of Flow Security Ltd. on 26 March 2024 for $96.4 million in cash, net of acquired cash, plus $0.5 million for pre-acquisition replacement equity awards 1.

CrowdStrike described Flow as a data-security-solutions provider and stated at signing that it planned to integrate Flow’s data-security-posture-management capability into Falcon Cloud Security 1, 2.

CrowdStrike completed its acquisition of 100% of Bionic Stork, Ltd. on 28 September 2023 for $239.0 million in cash, net of acquired cash, plus $0.7 million for pre-acquisition replacement equity awards 1.

CrowdStrike characterized Bionic as an Application Security Posture Management provider and stated that Bionic’s capabilities would be available independently and integrated into Falcon Cloud Security 1, 3.

CrowdStrike’s partner locator identifies Trustnet as an Elite partner and reseller, while Trustnet describes itself as an Israeli cybersecurity integration and consulting company that deploys and manages CrowdStrike technology 4, 5.

The reviewed sources do not identify Trustnet’s end customers, contract values, public-sector customers, deployment locations, or any Ministry of Defense, IDF, police, municipal, settlement-council, or critical-infrastructure customer relationship 4, 5.

No public evidence identified of Israeli agricultural sourcing, a dedicated importer-of-record entity, seasonal procurement, or white-label physical-goods distribution.

Product Origin, Labeling & Regulatory Compliance

CrowdStrike’s Israel-related activities documented in the reviewed materials concern cybersecurity platforms and software-security capabilities rather than manufactured consumer or industrial goods 1, 2, 3.

The reviewed filings and announcements do not identify Israeli manufacturing facilities, physical-product origin claims, country-of-origin labels, or formal policies concerning sourcing or labeling goods from occupied territories 1, 2, 3.

No public evidence identified of CrowdStrike offices, resellers, services, sales, or contracts located in West Bank settlements, including East Jerusalem, or the Golan Heights within the reviewed sources.

A supplied document-scoped pre-scan reported no CrowdStrike mention in the named OHCHR, UN Special Rapporteur, DBIO, PAX, Who Profits, Human Rights Watch, Amnesty, Al-Haq, KLP, insurance, and BDS-report documents, but this result does not establish absence across all databases or historical records 6, 7.

Investment, Capital & Financial Exposure

CrowdStrike’s FY2025 Form 10-K reports the Flow and Bionic acquisitions as cash-funded acquisitions that expanded its data-security and cloud-security capabilities 1.

CrowdStrike’s FY2025 geographic revenue disclosure reports United States, EMEA, Asia Pacific, and Other Countries rather than Israel-specific revenue 1.

The same filing groups property and lease assets into United States, Germany, and Other Countries, preventing identification of an Israel-specific asset total from that disclosure 1.

No public evidence identified of Israeli sovereign-bond underwriting, Israeli state lending, settlement-company financing, or Israeli portfolio holdings by CrowdStrike in the reviewed corporate materials.

As of 3 April 2026, CrowdStrike’s proxy identified Vanguard Capital Management and BlackRock as disclosed beneficial owners above 5%, at 7.27% and 6.70% respectively, and identified no beneficial owner at or above 10% 6.

The reviewed work did not assess the separate holdings, stewardship activity, or Israel-related investment exposure of those investment managers 6.

Operational Presence & Market Activity

CrowdStrike’s FY2025 subsidiary list identifies Flow Security Ltd., CrowdStrike Israel R&D Ltd., and Bionic Stork, Ltd. as subsidiaries incorporated in Israel 8. The FY2026 list instead identifies CrowdStrike Israel R&D Ltd. and A.S. Adaptive Shield Ltd. 9.

The presence of CrowdStrike Israel R&D Ltd. in the filed subsidiary list substantiates a separate Israeli R&D entity within the corporate group 8.

The reviewed filing does not disclose the Israeli R&D entity’s address, workforce, revenue, tax status, or preferential-tax-enterprise status 8.

CrowdStrike’s Israeli channel relationship with Trustnet provides evidence of a reseller route to market, but not evidence of the geographic locations or institutional identities of downstream deployments 4, 5.

The FY2026 subsidiary exhibit identifies A.S. Adaptive Shield Ltd. as incorporated in Israel; the FY2025 Form 10-K discloses CrowdStrike’s acquisition of 100% equity in that entity on 20 November 2024 1, 9.

Corporate Structure & Foundational Ties

CrowdStrike Holdings, Inc.’s FY2025 subsidiary filing identifies Flow Security Ltd., CrowdStrike Israel R&D Ltd., and Bionic Stork, Ltd. as Israeli-incorporated subsidiaries 8. Its FY2026 filing identifies CrowdStrike Israel R&D Ltd. and A.S. Adaptive Shield Ltd. instead 9.

CrowdStrike’s 2026 proxy identifies George Kurtz as the company’s founder, President, Chief Executive Officer, and a director 6.

The proxy lists nine board members: Johanna Flower, Denis J. O’Leary, Godfrey R. Sullivan, Roxanne S. Austin, Sameer K. Gandhi, Gerhard Watzinger, Cary J. Davis, George Kurtz, and Laura J. Schumacher 6.

The proxy states that Laura J. Schumacher serves on General Dynamics’ board, constituting a disclosed external defense-industry board affiliation 6.

CrowdStrike’s CrowdStrike Foundation is managed through a donor-advised fund at Charities Aid Foundation, and George Kurtz has served as its chairman and board member since November 2017 6.

The Foundation’s FY2024 filing data reports $1,511 in charitable disbursements, $47,493 in year-end net assets, and no officer compensation; its FY2023 filing data reports $1,611 in charitable disbursements and $48,838 in year-end net assets 10.

The accessible FY2024 and FY2023 Foundation summaries do not identify grant recipients, so this audit does not make an absence finding concerning Israel-, Palestine-, or advocacy-connected recipients 10.

CrowdStrike’s FY2026 proxy states that its foundation, corporate-directed giving, and matching supported more than 400 nonprofits globally during FY2026, without providing a complete recipient list 6.

The FY2025 proxy provides illustrative examples of supported organizations but expressly does not provide a complete grant or matching-recipient schedule 11.

Profit Repatriation & Economic Contribution

CrowdStrike’s public geographic disclosures do not provide an Israel-specific revenue, asset, workforce, profit, tax, dividend, royalty, or other profit-repatriation amount 1.

The Israeli acquisitions represent direct cash consideration paid for ownership of Flow Security Ltd. and Bionic Stork, Ltd., but the filing does not allocate post-acquisition revenue, profit, employment, or tax contribution to Israel 1.

The FY2026 Form 10-K reports $15.512 million in cash income-tax payments in Israel for the year ended 31 January 2026. The reviewed sources do not identify Israeli tax incentives, preferential-tax-enterprise treatment, Israel-specific revenue or profit, or the destination and use of the tax receipts 12.

A U.S. lobbying disclosure report signed 22 January 2024 reported $150,000 in lobbying expenses related to cybersecurity, artificial intelligence, cyber workforce, U.S. Department of Defense appropriations, the Cyber Safety Review Board, Executive Order 14110, and Veterans Affairs cybersecurity modernization 13.

That filing named the U.S. House, Senate, and White House Office as government contacts and contained no Israel-, Palestine-, settlement-, or Israel–Palestine-related issue in its specified issue descriptions or foreign-entity-interest section 13.

Dated cross-domain reconciliation

The FY2025 subsidiary exhibit lists CrowdStrike Israel R&D Ltd., Flow Security Ltd. and Bionic Stork, Ltd. as incorporated in Israel. The FY2026 exhibit instead lists CrowdStrike Israel R&D Ltd. and A.S. Adaptive Shield Ltd. as incorporated in Israel. These dated SEC exhibits supersede the earlier references in this audit to a “2026” list containing Flow and Bionic; the reason for those entities’ omission from the FY2026 exhibit remains unresolved and no divestment or cessation is inferred 14, 9.

The FY2026 exhibit establishes Adaptive Shield’s Israeli incorporation, resolving the earlier jurisdiction gap; CrowdStrike’s FY2025 Form 10-K reports its acquisition on 20 November 2024 for total consideration of $214.4 million, including replacement equity awards 1, 9.

The FY2026 Form 10-K reports $15.512 million in cash income-tax payments in Israel for the year ended 31 January 2026 and R&D centres in Israel, Romania and India. This dated disclosure supersedes the earlier blanket absence of a quantified Israeli tax contribution; it does not establish Israeli government procurement, preferential-tax treatment, Israeli revenue or profit-repatriation amounts 12.

Footnotes

  1. https://www.sec.gov/Archives/edgar/data/1535527/000153552725000009/crwd-20250131.htm ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14

  2. https://www.crowdstrike.com/en-us/press-releases/crowdstrike-to-acquire-flow-security-and-expand-cloud-security-leadership-with-dspm/ ↩ ↩2 ↩3 ↩4

  3. https://www.crowdstrike.com/en-us/press-releases/crowdstrike-to-acquire-bionic-to-extend-cloud-security-leadership/ ↩ ↩2 ↩3 ↩4

  4. https://www.crowdstrike.com/en-us/partner-locator/ ↩ ↩2 ↩3 ↩4

  5. https://trustnet.co.il/ ↩ ↩2 ↩3

  6. https://www.sec.gov/Archives/edgar/data/1535527/000110465926055599/tm2532333-4_def14a.htm ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8

  7. https://docs.un.org/en/A/HRC/59/23 ↩

  8. https://ir.crowdstrike.com/static-files/8ca9ec34-fb81-4170-82ce-fce6a9cc3b87 ↩ ↩2 ↩3 ↩4

  9. https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131xexx211.htm ↩ ↩2 ↩3 ↩4 ↩5

  10. https://projects.propublica.org/nonprofits/organizations/821515943 ↩ ↩2

  11. https://www.sec.gov/Archives/edgar/data/1535527/000110465925045047/tm252455-2_def14a.htm ↩

  12. https://www.sec.gov/Archives/edgar/data/1535527/000153552726000010/crwd-20260131.htm ↩ ↩2

  13. https://lda.gov/filings/public/filing/eb359d9d-0192-4b5c-9e4b-182cb7b3493c/print/ ↩ ↩2

  14. https://www.sec.gov/Archives/edgar/data/1535527/000153552725000009/crwd-20250131xexx211.htm ↩