Cloudflare, a global network services provider, reported a robust financial performance for the quarter ended September 30, 2024. The company's revenue saw a significant increase of 28% year-over-year, reaching $430.082 million. Gross profit also improved, rising to $334.115 million from $257.534 million in the same quarter of the previous year, with a gross margin of 78%. Operating loss decreased to $30.794 million from $39.212 million, while non-GAAP income from operations climbed to $63.468 million, up from $42.533 million. The company's net cash provided by operating activities was $104.727 million, a substantial increase from $68.100 million in the prior year. Cloudflare's international markets continued to represent a significant portion of revenue, accounting for 50% in the current quarter compared to 48% in the previous year. The company's paying customer...Show More

Cloudflare, a global network services provider, reported a robust financial performance for the quarter ended September 30, 2024. The company's revenue saw a significant increase of 28% year-over-year, reaching $430.082 million. Gross profit also improved, rising to $334.115 million from $257.534 million in the same quarter of the previous year, with a gross margin of 78%. Operating loss decreased to $30.794 million from $39.212 million, while non-GAAP income from operations climbed to $63.468 million, up from $42.533 million. The company's net cash provided by operating activities was $104.727 million, a substantial increase from $68.100 million in the prior year. Cloudflare's international markets continued to represent a significant portion of revenue, accounting for 50% in the current quarter compared to 48% in the previous year. The company's paying customer base grew to 221,540, up from 182,027, with those contributing over $100,000 in annualized revenue increasing to 3,265 from 2,558. Cloudflare's business development efforts have been focused on expanding its customer base, both through new acquisitions and growth within existing customers. The company's global network spans more than 330 cities in over 120 countries, aiding in its strong international growth. Cloudflare also emphasized the importance of its free customer base, which serves as brand marketing and helps attract developers and potential employees. Looking ahead, Cloudflare plans to continue investing in its network infrastructure and sales operations to support business growth and customer service improvements. The company is closely monitoring macroeconomic developments, including conflicts and geopolitical tensions, which could impact business and customer purchasing decisions.