Cloudflare Q2 2024 Earnings Report
Key Takeaways
Cloudflare announced a strong second quarter, with revenue totaling $401.0 million, representing a 30% year-over-year increase. The company's GAAP loss from operations was $34.7 million, while non-GAAP income from operations reached $57.0 million. Operating cash flow was $74.8 million, and free cash flow was $38.3 million.
Revenue totaled $401.0 million, a 30% increase year-over-year.
GAAP loss from operations was $34.7 million, or 9% of revenue.
Non-GAAP income from operations was $57.0 million, or 14% of revenue.
Operating cash flow was $74.8 million, or 19% of revenue, and free cash flow was $38.3 million, or 10% of revenue.
Cloudflare
Cloudflare
Forward Guidance
For the third quarter of fiscal 2024, Cloudflare expects total revenue of $423.0 to $424.0 million and non-GAAP income from operations of $50.0 to $51.0 million. For the full year fiscal 2024, Cloudflare expects total revenue of $1,657.0 to $1,659.0 million and non-GAAP income from operations of $196.0 to $198.0 million.
Positive Outlook
- Total revenue of $423.0 to $424.0 million is expected for Q3 2024.
- Non-GAAP income from operations of $50.0 to $51.0 million is expected for Q3 2024.
- Non-GAAP net income per share of $0.18 is expected for Q3 2024.
- Total revenue of $1,657.0 to $1,659.0 million is expected for the full year fiscal 2024.
- Non-GAAP income from operations of $196.0 to $198.0 million is expected for the full year fiscal 2024.