Hello and welcome to CrowdStrike's Fiscal Third Quarter 2025 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, we will conduct a question-and-answer session. Please be advised that today's conference call is being recorded. I would now like to hand the call over to Maria Riley, Vice President of Investor Relations. Maria, please go ahead.
Good afternoon, and thank you for your participation today. With me on the call are George Kurtz, Chief Executive Officer and Founder of CrowdStrike, and Burt Podbere, Chief Financial Officer. Before we get started, I would like to note that certain statements made during this conference call that are not historical facts, including those regarding our future plans, objectives, growth, including projections, and expected performance, including our outlook for the fourth quarter and fiscal year 2025, and any assumptions for the fiscal periods beyond that, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our outlook only as of the date of this call. While we believe any forward-looking statements we make are reasonable, actual results could differ materially because the statements are based on current expectations and are subject to risks and uncertainties.
We do not undertake and expressly disclaim any obligation to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise. Further information on these and other factors that could affect the company's financial results is included in the filings we make with the SEC from time to time, including the section titled Risk Factors in the company's quarterly and annual reports. Additionally, unless otherwise stated, excluding revenue, all financial measures disclosed on this call will be non-GAAP. A discussion of why we use non-GAAP financial measures and a reconciliation schedule showing GAAP versus non-GAAP results is currently available in our earnings press release, which may be found on our investor relations website at ir.crowdstrike.com or on our Form 8-K filed with the SEC today. With that, I will now turn the call over to George.
Thank you, Maria, and thank you all for joining our Third Quarter FY25 earnings call. I'd like to start today's comments by sharing three key themes that excite me about this quarter and our bright future. First, trust. The trust that customers, partners, and the market have in CrowdStrike. We grew ending ARR more than 27% year over year and maintained stable gross retention rates. Second, widespread platform adoption. Our Falcon Flex subscription model is supercharging Falcon platform adoption. With CrowdStrike, cybersecurity consolidation is rapid and ROI is measurable. Falcon Flex is increasing both our share of wallet and enterprise real estate, furthering CrowdStrike as cybersecurity's AI-native platform of record. And third, trailblazing innovation. From cloud to device, data to GenAI, application to identity, and compliance to resilience, our innovation disrupts legacy markets and creates new categories. CrowdStrike is leading the future of AI-powered cybersecurity.
The themes of trust, platform adoption, and innovation guide CrowdStrike's customer obsession and continued strong execution. Following the summer's incident, as a company, we were tested. We responded with speed, care, and resolve, and we focused on becoming even better, continuing to deliver industry-leading cyber protection on the Falcon platform's proven, resilient, and scaled AI-native architecture. I'm encouraged by CrowdStrike's Q3 results, our first full quarter post-incident. First, ending ARR surpassed $4 billion, making CrowdStrike the fastest pure-play cybersecurity software company to achieve this reported milestone, tracking to our $10 billion ARR vision. Second, Q3 revenue surpassed $1 billion. Subscription revenue grew 31% year over year, and total revenue surpassed $1 billion for the first time in company history. Third, Free Cash Flow of $231 million, or 23% of revenue, achieving a Rule of 51 on a Free Cash Flow basis.
Fourth, we closed more than 150 Falcon Flex transactions, with these customers representing more than $600 million in total deal value. And fifth, more recently, we announced and closed the acquisition of Adaptive Shield, adding SaaS posture management to our portfolio, further differentiating and connecting the Falcon platform's Cloud Security suite and Identity Protection offerings. In addition to these achievements, I'd like to provide some perspective on what we saw in Q3. First, Falcon customers are staying with CrowdStrike as their trusted cybersecurity platform of choice. Q3 gross retention was over 97%, down less than half a percentage point. Strength in retention was driven by the value that customers received from the Falcon platform. Second, Falcon customers are growing with us. Q3 dollar-based net retention was 115%, temporarily impacted by the incident and reflective of customers strengthening their commitment to CrowdStrike.
Customers are leveraging our Customer Commitment Package and flex subscription model to both increase their long-term investment in CrowdStrike and increase their adoption of the Falcon platform, and third, we're seeing exceptional strength in key verticals and market segments. Healthcare saw a record quarter as providers are investing in cybersecurity's criticality based on heightened and targeted attacks. Our corporate sales team, covering organizations below 2,500 employees, had their largest quarter ever, benefiting from Falcon Flex as well as successful competitive takeouts. These successes are in the context of CrowdStrike's sustained Fortune 500 market leadership. Our track record of AI innovation and market-leading protection, delivered on our highly resilient and cybersecurity's most performant architecture, continues to resonate at scale.
Our competitive win rates remain consistent to trending upwards, and our total deal size for new business trended up over the last year, which we attribute to the continuous evolution of our platform solutions across Cloud Security, Next-Gen SIEM, Identity Protection, data security, and AI. Our revolutionary Falcon Flex subscription model and CrowdStrike's amplified brand recognition and favorable market sentiment from our transparent and deliberate response to the summer's incident. Through it all, we remain laser-focused on innovation, which is what drives our platform differentiation, customer stickiness, and superior protection outcomes. This fall, we hosted the largest events in CrowdStrike's history, Falcon, our global flagship ecosystem event in Las Vegas, where 6,000 attendees joined us from more than 60 countries and 100 exhibiting ecosystem partners showcased their Falcon-integrated solutions.