---
schema_version: "secwatch.filing_event.v1"
accession: "0001477333-23-000041"
form_type: "8-K"
ticker: "NET"
cik: "0001477333"
company_name: "Cloudflare, Inc."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:49:17.688868+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cloudflare Q1 revenue $290.2M (+37% YoY); non-GAAP EPS $0.08, free cash flow $13.9M

## Summary
- Revenue $290.2M (+37% YoY); GAAP gross margin 75.7%, non-GAAP 77.8%.
- GAAP net loss $38.1M ($0.12 loss per share); non-GAAP net income $27.2M ($0.08 diluted EPS).
- Operating cash flow $36.4M (13% of revenue); free cash flow $13.9M (5% of revenue) vs -$64.4M in Q1 2022.
- Cash, equivalents and securities $1,715.6M as of March 31, 2023.
- CEO cites record operating profit/margin for third consecutive quarter.

## SEC filing metadata
- accession: 0001477333-23-000041
- form_type: 8-K
- ticker: NET
- cik: 0001477333
- company_name: Cloudflare, Inc.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000041/0001477333-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000041/cloud-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477333-23-000041
- JSON: https://secwatch.observer/filing/0001477333-23-000041.json
- Plain text: https://secwatch.observer/filing/0001477333-23-000041.txt

## Key facts
- Earnings Releases
  Cloudflare, Inc. reported the fiscal quarter ended March 31, 2023 results: revenue $290.2 million, net income $38.1 million, EPS $0.12.
  - Period: the fiscal quarter ended March 31, 2023
  - Revenue: $290.2 million
  - Net income: $38.1 million
  - EPS: $0.12
  - Result: reported results
  source text: First Quarter Fiscal 2023 Financial Highlights • Revenue : Total revenue of $290.2 million, representing an increase of 37% year-over-year. • Gross Profit : GAAP gross profit was $219.7 million, or 75.7% gross margin, compared to $165.1 million, or 77.8%, in the first quarter of 2022. Non-GAAP gross profit was $225.9 million, or 77.8% gross margin, compared to $166.9 million, or 78.7%, in the first quarter of 2022. • Operating Income (Loss) : GAAP loss from operations was $47.3 million, or 16.3% of total revenue, compared to $40.0 million, or 18.9% of total revenue, in the first quarter of 2022. Non-GAAP income from operations was $19.4 million, or 6.7% of total revenue, compared to $4.9 million, or 2.3% of total revenue, in the first quarter of 2022. • Net Income (Loss) : GAAP net loss was $38.1 million, compared to $41.4 million in the first quarter of 2022. GAAP net loss per basic and diluted share was $0.12, compared to $0.13 in the first quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477333/000147733323000041/0001477333-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.