CrowdStrike (NASDAQ: CRWD) is a leader in cybersecurity, particularly when it comes to endpoint protection. It's scheduled to release its latest financial results for the fiscal 2025 second quarter (ended July 31) on Aug. 28, and it could be the most important report in the company's history.

On July 18, CrowdStrike released a routine update for its flagship Falcon cybersecurity platform. A bug in the software crashed around 8.5 million Microsoft Windows-based computers, and sent them into a reboot loop that required a manual fix in many cases.

Most customers restored their systems within a few days, but the outage caused an estimated $5.4 billion in damage to the Fortune 500 companies alone. Delta Air Lines, for example, canceled 7,000 flights over a five-day period, at a cost of $500 million. Delta is now pursuing legal action against CrowdStrike in an attempt to recover its losses, and the cybersecurity giant's potential financial liability is still unknown.

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Source Fool.com