secwatch.observer — SEC 8-K summary
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Issuer:     Cloudflare, Inc. (NET)
CIK:        0001477333
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001477333-22-000029
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cloudflare Q1 revenue $212.2M (+54% YoY); non-GAAP operating income turns positive
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477333/000147733322000029/0001477333-22-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477333/000147733322000029/cloud-20220505.htm
  HTML page:      https://secwatch.observer/filing/0001477333-22-000029

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer