Cloudflare Inc.
Cloudflare Reports Strong Q1 2024 Financial Results
Summary
Cloudflare, Inc. reported a 30% year-over-year increase in first-quarter revenue to $378.6 million for 2024. GAAP loss from operations was $54.6 million, while non-GAAP income from operations was $42.4 million. The company also reported operating cash flow of $73.6 million and free cash flow of $35.6 million. These results were driven by a record number of net-new customers and disciplined gross and operating margins. Cloudflare also announced financial outlook for the second quarter and full year 2024.
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About Cloudflare Inc.
Cloudflare Inc. is a technology company specializing in web infrastructure and website security services. Its primary purpose is to enhance the performance and security of internet-connected assets, operating across a variety of sectors such as e-commerce, finance, healthcare, and more. Cloudflare offers a comprehensive suite of services, including content delivery network (CDN) capabilities, Distributed Denial of Service (DDoS) protection, internet security, and domain name server (DNS) solutions. By optimizing the speed and safety of websites and applications, Cloudflare plays a crucial role in ensuring seamless and secure digital experiences for users. Positioned at the forefront of internet security and network optimization, Cloudflare is essential in supporting the robust operations of millions of websites and applications worldwide, making it a pivotal entity in the digital economy. Its services cater not only to large-scale enterprises but also to smaller businesses and individual users, contributing significantly to global internet stability and efficiency.
Official SEC Documents
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