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Cloudflare Earnings: Scoring Big Deals
Here's our initial take on Cloudflare's (NYSE: NET) fiscal 2025 first-quarter financial report.Cloudflare beat expectations for revenue and met expectations for adjusted earnings per share in the first quarter, with its results buoyed by the biggest customer win in the company's history. Cloudflare scored a contract worth more than $100 million, with the Workers developer platform at the center of that deal.The number of large customers spending at least $100,000 annually rose by 23% year over year in the first quarter. Large customers accounted for 69% of Cloudflare's total revenue, up from 67% in the prior-year period. Dollar-based net retention was 111%, unchanged from the fourth quarter of 2024.Continue reading
Here's our initial take on Cloudflare's (NYSE: NET) fiscal 2025 first-quarter financial report.
Cloudflare beat expectations for revenue and met expectations for adjusted earnings per share in the first quarter, with its results buoyed by the biggest customer win in the company's history. Cloudflare scored a contract worth more than $100 million, with the Workers developer platform at the center of that deal.
The number of large customers spending at least $100,000 annually rose by 23% year over year in the first quarter. Large customers accounted for 69% of Cloudflare's total revenue, up from 67% in the prior-year period. Dollar-based net retention was 111%, unchanged from the fourth quarter of 2024.
