Cloudflare Inc

NET

Equity

ISIN US18915M1071 / Valor 49563753

New York Stock Exchange, Inc (2024-11-21)

USD 104.24+8.05%

Cloudflare Inc
UMushroom community rating:

4.00 2 votes No rating yet

NegativeNeutralPositive

About company

Cloudflare Inc. is a global cloud platform that provides network services to businesses worldwide, focusing on enhancing security, performance, and reliability for their Internet properties. The company made its debut on the New York Stock Exchange in 2019 and has since expanded its services to protect websites from various cyber attacks while also optimizing their performance. Cloudflare initially began as an application to combat email spam and has since evolved into a comprehensive solution for businesses of all sizes.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Cloudflare Inc. reported total revenue of $401.0 million for the second quarter of 2024, representing a 30% increase year-over-year. This significant growth underscores the company's expanding market presence and the increasing demand for its connectivity cloud solutions.

Gross Profit

For the second quarter of 2024, Cloudflare Inc. achieved a GAAP gross profit of $312.0 million, or a 77.8% gross margin. This is an improvement from the $233.3 million, or 75.6% gross margin, reported in the same quarter of 2023. Non-GAAP gross profit also saw an increase, reaching $316.6 million, or a 79.0% gross margin.

Operating Income

Cloudflare Inc. reported a GAAP loss from operations of $34.7 million, or 8.7% of revenue, for the second quarter of 2024. This is a notable improvement from the $56.2 million loss, or 18.2% of revenue, in the second quarter of 2023. On a non-GAAP basis, the company reported an income from operations of $57.0 million, or 14.2% of revenue.

Net Income

In the second quarter of 2024, Cloudflare Inc. reported a GAAP net loss of $15.1 million, a significant reduction from the $94.5 million net loss in the same quarter of 2023. Non-GAAP net income was $69.5 million, compared to $33.7 million in the second quarter of 2023, reflecting the company's improved financial performance.

Cash Flow

Cloudflare Inc. generated net cash flow from operating activities of $74.8 million in the second quarter of 2024, up from $64.5 million in the same period of 2023. Free cash flow also increased to $38.3 million, or 10% of revenue, compared to $20.0 million, or 6% of revenue, in the second quarter of 2023.

Summarized from source with an LLMView Source

Key figures

41.2%1Y

-50.6%3Y

500%5Y

Performance

47.3%1Y

74.9%3Y

70.2%5Y

Volatility