earnings
confidence high
sentiment positive
materiality 0.75
Cloudflare Q1 revenue $212.2M (+54% YoY); non-GAAP operating income turns positive
Cloudflare, Inc.
2022-Q1 EPS reported
-$0.13
revenue$212,167,000
- Revenue $212.2M (+54% YoY); GAAP net loss $41.4M ($0.13 loss/share), non-GAAP net income $3.5M ($0.01 EPS).
- Record dollar-based net retention of 127%, up 400 bps YoY; added ~14,000 paying customers to total 154,109.
- Customers spending >$1M annually grew 72% YoY; GAAP operating loss narrowed to 18.9% of revenue from 22.6%.
- Non-GAAP operating income $4.9M (2.3% rev) vs. loss of $7.5M in prior year; free cash flow was negative $64.4M.
- Cash and securities $1,725.2M; management cited strong demand for single-vendor network services.