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Jun 30, 2022
Cloudflare Q2 2022 Earnings Report
Cloudflare's revenue increased by 54% year-over-year, driven by strong large customer growth.
Key Takeaways
Cloudflare announced strong second quarter results with revenue growth of 54% year-over-year. The company achieved positive operating cash flow and added a record number of large customers.
Total revenue reached $234.5 million, a 54% increase year-over-year.
Added a record 212 large customers, bringing the total to 1,749.
Operating cash flow was $38.3 million, representing 16% of total revenue.
Free cash flow was negative $4.4 million, or 2% of total revenue.
Forward Guidance
For Q3 2022, Cloudflare expects revenue between $250.0 to $251.0 million and non-GAAP net income per share of $0.00 to $0.01. For the full year 2022, Cloudflare expects revenue of $968.0 to $972.0 million and non-GAAP net income per share of $0.03 to $0.04.
Positive Outlook
- Total revenue of $250.0 to $251.0 million for Q3 2022
- Non-GAAP income from operations of $0.0 to $1.0 million for Q3 2022
- Non-GAAP net income per share of $0.00 to $0.01 for Q3 2022
- Total revenue of $968.0 to $972.0 million for full year 2022
- Non-GAAP income from operations of $7.0 to $11.0 million for full year 2022
Challenges Ahead
- Challenging general economic conditions, including inflation
- Rising interest rates
- Ongoing COVID-19 pandemic
- Russia-Ukraine conflict
Historical Earnings Impact
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Avg. Return Before/After Earnings
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