Cloudflare reported its Q4 2023 results, with a total revenue of $362.5 million, representing a 32% increase compared to the previous year. However, the company experienced a net loss of $27.9 million according to GAAP accounting standards, a decrease from the previous year. The cash flow from operations reached an all-time high at $85.4 million.
Matthew Prince, the CEO of Cloudflare, stated that customers using Cloudflare have seen improved performance in all aspects. Despite the economic fluctuations worldwide, customers continue to choose Cloudflare for connectivity, security, and system optimization to support business growth.
Prince further highlighted that the past year witnessed significant growth in signing contracts with new major customers, as well as renewing contracts with existing major customers, reaching the company’s highest-ever volume.
Cloudflare updates statistical data of its services, with network centers present in over 310 cities across 120 countries, including mainland China. More than 30% of Fortune 1000 companies are among Cloudflare’s customers.
TLDR: Cloudflare’s Q4 2023 revenue reached $362.5 million, a 32% increase from the previous year. The company experienced a net loss of $27.9 million. Despite economic fluctuations, Cloudflare’s customers continue to benefit from improved performance. Cloudflare has seen significant growth in customer contracts, with over 310 network centers worldwide and a strong presence among Fortune 1000 companies.
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