Cloudflare Inc ( (NET) ) has released its Q4 earnings. Here is a breakdown of the information Cloudflare Inc presented to its investors.
Cloudflare, Inc. is a leading connectivity cloud company that provides organizations with enhanced security and performance for their internet activities, leveraging one of the world’s most interconnected networks to block online threats for its diverse customer base.
Cloudflare reported its financial results for the fourth quarter and fiscal year 2024, showcasing significant revenue growth and an increase in its large customer base. The company’s revenue for the fourth quarter reached $459.9 million, a 27% increase year-over-year, and the fiscal year total revenue was $1.67 billion, marking a 29% rise compared to the previous year.
The company experienced a GAAP operational loss of $34.7 million for the fourth quarter, representing 7.5% of total revenue. However, on a non-GAAP basis, Cloudflare achieved an operating income of $67.2 million, which is 14.6% of total revenue. The number of customers spending more than $1 million annually with Cloudflare grew by 47% to 173 customers, indicating robust growth in its high-value customer segment.
Looking ahead, Cloudflare’s management remains optimistic about capturing future demand and reaccelerating growth in 2025, projecting a revenue range between $2.09 billion and $2.094 billion for the full year. The company aims to continue its focus on innovation, particularly in artificial intelligence, to ensure sustained growth and customer satisfaction.
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