Cloudflare Q4 2019 Earnings Report
Key Takeaways
Cloudflare reported a strong Q4 2019, with revenue growing 51% year-over-year to $84 million. The company also achieved a GAAP gross margin of 78.3% and made strides in the enterprise security market with its Cloudflare for Teams offering.
Q4 revenue increased by 51% year-over-year, reaching $84 million.
GAAP gross margin was 78.3%, a 160 basis point increase year-over-year.
Non-GAAP gross margin was 78.7%, a 180 basis point increase year-over-year.
Cloudflare entered the enterprise security market with Cloudflare for Teams.
Cloudflare
Cloudflare
Forward Guidance
For Q1 2020, Cloudflare anticipates revenue between $87 and $88 million and a non-GAAP loss per share between $0.06 and $0.05. For the full year 2020, the company projects revenue between $389 and $393 million and a non-GAAP loss per share between $0.21 and $0.19.
Positive Outlook
- Expects Q1 2020 revenue of $87 to $88 million
- Anticipates FY 2020 revenue of $389 to $393 million
- Projects Q1 2020 non-GAAP loss from operations of $20 to $19 million
- Estimates FY 2020 non-GAAP loss from operations of $65 to $61 million
- Forecasts Q1 2020 non-GAAP net loss per share of $0.06 to $0.05
Challenges Ahead
- Projects Q1 2020 non-GAAP loss from operations of $20 to $19 million
- Estimates FY 2020 non-GAAP loss from operations of $65 to $61 million
- Forecasts Q1 2020 non-GAAP net loss per share of $0.06 to $0.05
- Estimates FY 2020 non-GAAP net loss per share of $0.21 to $0.19
- Uncertainty of expenses that may be incurred in the future