•
Dec 31, 2022
Cloudflare Q4 2022 Earnings Report
Cloudflare's financial performance for Q4 2022 demonstrated strong revenue growth and improved profitability.
Key Takeaways
Cloudflare announced strong Q4 2022 results, with revenue reaching $274.7 million, a 42% year-over-year increase. The company achieved record operating cash flow and free cash flow during the quarter, alongside delivering record non-GAAP income from operations.
Revenue totaled $274.7 million, up 42% year-over-year.
GAAP loss from operations was $50.7 million, while non-GAAP income from operations reached $16.8 million.
Operating cash flow was $78.1 million, representing 28% of total revenue.
Free cash flow was $33.7 million, or 12% of total revenue.
Cloudflare
Cloudflare
Forward Guidance
Cloudflare provided financial outlook for Q1 2023 and full year 2023, with revenue and non-GAAP income expectations.
Positive Outlook
- Q1 2023 total revenue is expected to be $290.0 to $291.0 million.
- Q1 2023 non-GAAP income from operations is expected to be $11.5 to $12.5 million.
- Q1 2023 non-GAAP net income per share is expected to be $0.03 to $0.04.
- Full year 2023 total revenue is expected to be $1,330.0 to $1,342.0 million.
- Full year 2023 non-GAAP income from operations is expected to be $54.0 to $58.0 million.
Challenges Ahead
- The forward-looking statements are subject to substantial uncertainty due to challenging general economic conditions.
- These conditions include inflation and rising interest rates.
- These conditions include the ongoing COVID-19 pandemic and the Russia-Ukraine conflict.
- The estimates are as of February 9, 2023, and are highly dependent on numerous factors that Cloudflare may not be able to predict or control.
- These factors include customer demand and spending patterns.