Welcome to our dedicated page for Cloudflare news (Ticker: NET), a resource for investors and traders seeking the latest updates and insights on Cloudflare stock.
Cloudflare, Inc., trading under the symbol NET, is a leading provider of web performance and security solutions. Founded in San Francisco, California, Cloudflare operates a highly-available global network that ensures websites function faster, are more secure, and are smarter. Catering to millions of websites, including those of large enterprises, major consumer destinations, and government agencies, Cloudflare has established itself as a critical player in the web infrastructure market.
Cloudflare’s core services include a distributed, serverless content delivery network (CDN) which accelerates the delivery of web pages to users. The company's edge computing platform, Workers, allows clients to deploy and execute code without the need to maintain servers, thereby enhancing flexibility and reducing operational overhead. This platform supports various programming languages like Nginx, Go, and Lua, and is a testimony to Cloudflare’s commitment to leveraging cutting-edge technology.
The company’s network serves hundreds of billions of page views per month and can reach 90% of the world’s population in less than 0.23 seconds. Cloudflare is also known for its robust security measures, having successfully defended against some of the largest DDoS attacks ever recorded. This extensive reach and resiliency make it a trusted name in web security.
Furthermore, Cloudflare is a strong supporter of the open-source community, regularly sharing its technological advancements and learnings via its blog. With offices in San Francisco and London, the company is on a mission to build a better web. They are actively seeking talented individuals to join their team and contribute to this mission.
In recent developments, Cloudflare continues to innovate and expand its offerings, forging new partnerships and enhancing its service capabilities. As a publicly traded company, Cloudflare's financial health and market performance are closely watched by investors and analysts.
Cloudflare (NYSE: NET) announced significant growth in Mexico following a year of expansion. The company added a new data center in Guadalajara, processed an average of 50 billion daily Internet requests, and blocked 99 million cyber threats per day in Q3 2024, marking a 35% increase from the previous quarter. The company's Mexico-based team grew by over 200% to more than 50 employees since opening its Mexico City office. Cloudflare's network now spans more than 330 cities globally, including 45 cities across Latin America and the Caribbean, serving approximately 20% of web traffic worldwide. Key Mexican customers include Caliente.mx and Bitso, with the company partnering with system integrators like NTT DATA to expand its regional presence.
Cloudflare (NYSE: NET) has been recognized as a Leader in the 2024 IDC MarketScape Worldwide Edge Delivery Services Vendor Assessment. The evaluation, which included eight vendors, highlighted Cloudflare's strengths in edge security capabilities, enterprise SASE/SSE services, and developer platform features. The IDC MarketScape praised Cloudflare's competitive position and innovation drive, particularly noting its focus on AI/ML integration across product lines and its customizable developer solutions. The company's self-serve portal with detailed analytics and enterprise-grade services was also highlighted as a key strength.
Cloudflare (NYSE: NET) reported strong Q3 2024 financial results with revenue reaching $430.1 million, up 28% year-over-year. The company posted a GAAP loss from operations of $30.8 million but achieved non-GAAP income from operations of $63.5 million. Operating cash flow was $104.7 million with free cash flow of $45.3 million.
Notable achievements include adding a record 219 large customers, with 35% of Fortune 500 companies now being paying customers. The company provided Q4 2024 guidance with expected revenue of $451.0-452.0 million and full-year 2024 revenue guidance of $1,661.0-1,662.0 million.
Cloudflare (NYSE: NET) has expanded its EMEA operations by opening a new headquarters and technical hub in Lisbon, Portugal. This move supports the company's growing presence in the region, complementing existing offices in London, Paris, Munich, and Dubai. Cloudflare's network now spans 58 cities in Europe, including Lisbon, which was first announced in 2016.
Since establishing its first Lisbon office in 2019, Cloudflare has grown from 14 to over 350 employees in Portugal. The company plans to significantly increase its presence in Lisbon in the coming years. The official opening was celebrated with a ribbon-cutting ceremony attended by Portugal's Minister of Economy and top Cloudflare executives.
Cloudflare's expansion in Portugal aligns with the country's investments in strategic infrastructure, energy, innovation, and R&D. The company cites Portugal's well-connected international hub, vibrant tech ecosystem, and impressive talent pool as key factors for its continued investment in the region.
Cloudflare (NYSE: NET), the leading connectivity cloud company, has announced it will report its financial results for the third quarter ended September 30, 2024 after the U.S. market closes on Thursday, November 7, 2024. The company will host an investor conference call at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) on the same day to discuss the results.
Interested parties can join the call by dialing (877) 400-4517 from the United States or (332) 251-2620 internationally, using conference ID 3723782. A live webcast of the conference call will be available on the Cloudflare investor relations website at cloudflare.NET. A replay of the call will be accessible approximately two hours after its conclusion and will remain available for about 30 days.
Cloudflare (NYSE: NET) has acquired Kivera, a cloud security, data protection, and compliance platform. This acquisition aims to enhance Cloudflare One by adding preventive controls directly into the cloud deployment process. The integration will help organizations:
1. Safeguard cloud environments across major providers
2. Enable one-click preventive security
3. Keep sensitive data within the organization
4. Reduce 'shadow' cloud infrastructure
5. Streamline cloud security compliance
This move addresses the growing concern of cloud security risks, as Gartner estimates that 99% of records compromised in cloud environments through 2027 will be due to user misconfigurations and account compromise. The acquisition follows Cloudflare's purchase of BastionZero in May 2024, further expanding its Zero Trust infrastructure access capabilities.
Cloudflare has announced significant enhancements to its Workers AI platform, designed to help developers build faster and more powerful AI applications. Key improvements include:
- Upgraded GPUs in over 180 cities worldwide for faster inference and support for larger models like Llama 3.1 70B
- New persistent logs in AI Gateway for better monitoring and optimization
- Enhanced Vectorize database, now supporting up to 5 million vectors per index with reduced query latency
These upgrades aim to minimize network latency and improve AI application performance globally. Cloudflare's CEO, Matthew Prince, emphasized the importance of network speeds and regional availability as AI becomes more integrated into daily life.
Cloudflare (NYSE: NET) has introduced Speed Brain, a new product that can make webpages load up to 45% faster for free. Speed Brain predicts the next page a user will visit and preloads it into the browser cache, aiming to eliminate load times completely. This innovation works with popular web browsers and is enabled by default for millions of domains on Cloudflare's Free plan.
Speed Brain utilizes the Chrome Speculation-Rules API and Cloudflare's global network to speculate on user behavior. Future enhancements will include more aggressive predictions using machine learning and artificial intelligence. The feature is available immediately for all Cloudflare plans, with Pro, Business, and Enterprise plans able to enable it manually.
Cloudflare (NYSE: NET) has announced a new service to verify the integrity of public keys in end-to-end encryption (E2EE) messaging applications. This service, called Plexi, acts as an auditor for Key Transparency infrastructure, ensuring the authenticity of encryption keys used in E2EE messaging. WhatsApp is the first to implement this new auditing process, strengthening users' trust in the application.
Cloudflare's Plexi verifies that the logs of these keys are constructed correctly and provides an audit signature that messaging apps can pass on to users. This process helps build trust that E2EE messages are delivered to the intended recipients without manual verification by security-conscious users.
The company is interested in auditing the integrity of all types of E2EE infrastructure and invites organizations to reach out for audits. Cloudflare will showcase demos and product announcements at their first Builder Day Live Stream on September 26 at 11am PT.
Cloudflare (NYSE: NET) has announced that its threat intelligence team, Cloudforce One, will make its research public for the first time. This initiative aims to democratize access to critical threat insights, leveraging Cloudflare's global network which blocks 158 billion threats daily. The company is launching a Threat Intelligence Portal to provide a centralized view of the threat landscape.
Cloudforce One has already published insights on:
- A South Asia-focused threat actor named 'SloppyLemming' targeting governments, defense sectors, and critical infrastructure
- Increased attacks on the global supply chain, with a rise in freight fraud since January 2024
This move comes as cybercrime is projected to reach $10.5 trillion annually by 2025. Cloudflare's goal is to help build a more secure Internet by providing defenders with timely information on malicious tactics and trends.
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