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 reported Q3 revenue of $253.9 million, a 47% year-over-year increase, surpassing $1 billion in annualized revenue for the first time. The company added 159 large customers, totaling 1,908 large clients. While GAAP net loss was $42.5 million, a notable improvement from $107.3 million in the previous year, non-GAAP net income rose to $19.1 million. The firm aims to achieve $5 billion in annualized revenue in five years, highlighting strong market potential with less than 1% market penetration.
Cloudflare, Inc. (NYSE: NET) announced it will report its financial results for the third quarter ending September 30, 2022, after market close on November 3, 2022. An investor conference call will take place at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results. Interested parties can join the call by dialing (877) 400-4517 or (332) 251-2620 internationally. A live webcast will also be available on the Cloudflare investor relations website, with a replay accessible for about 30 days afterward.
Cloudflare (NYSE: NET) announced a collaboration with Yubico to enhance cybersecurity for its customers through exclusive access to Yubico's security keys. The offering aims to provide affordable, phishing-resistant multi-factor authentication (MFA) solutions, with prices starting as low as $10. Organizations can also benefit from a 50% discount on the first year of a multi-year subscription for larger clients. This initiative aligns with Cloudflare's Zero Trust security model, which requires verification from all users attempting to access its network.
Cloudflare (NYSE: NET) has launched Turnstile, an innovative API that replaces CAPTCHAs and enhances online user experience. This new solution is designed to save approximately 500 years of time daily by validating human presence without the tedious challenges of traditional CAPTCHAs. Turnstile leverages browser signals and Private Access Tokens to ensure privacy while maintaining high solve rates. Notably, Cloudflare has reduced its CAPTCHA usage by 91% and decreased user interaction times from an average of 32 seconds to just 1 second.
Cloudflare (NYSE: NET) has launched the Workers Launchpad Funding Program, in partnership with 26 venture capital firms, to provide up to $1.25 billion in financing for startups using its serverless computing platform, Cloudflare Workers. The program aims to support the development of scalable applications and offers eligible startups potential cash investments and mentorship. With over 500,000 developers and more than 3 million applications built since 2017, Cloudflare seeks to empower entrepreneurship in the tech space.
Cloudflare has launched the Zero Trust SIM, a groundbreaking solution that secures every packet of data from mobile devices. This development allows organizations to connect employee devices securely to Cloudflare’s network and integrate with its Zero Trust platform. Alongside this, the Zero Trust for Mobile Operators program enables carriers to offer mobile security tools seamlessly. The Zero Trust SIM employs eSIM technology for swift deployment and enhanced security against SIM-swapping attacks.
Cloudflare, Inc. (NYSE: NET) has expanded its Data Localization Suite to Australia, India, and Japan. Businesses in these regions can now manage their data localization needs while benefiting from Cloudflare's security and performance. This move addresses compliance challenges arising from new data protection laws, allowing companies to control traffic servicing and deploy serverless applications locally. Cloudflare’s global network supports over 275 cities, providing faster and safer services while aligning with international security certifications.
Cloudflare, Inc. (NYSE: NET) has announced the general availability of its Cloudflare R2 Storage, a distributed object storage service that eliminates egress costs for developers. This service allows seamless migration from S3-compatible APIs, enabling developers to focus on innovation without financial burdens from high storage fees. The initial beta attracted over 11,000 developers, and R2 aims to be at least 10% cheaper than S3 Standard. With R2, users can enhance application performance and reduce costs significantly by avoiding vendor lock-in and egress fees.
Cloudflare (NYSE: NET) has launched its Cloud Access Security Broker (CASB) and Data Loss Prevention (DLP) services as part of its Zero Trust platform. These tools enhance visibility and control over corporate SaaS applications, addressing increased security challenges faced by businesses using more cloud-based services. In the past 90 days, CASB has detected over five million cases of potential data oversharing. The integrated CASB and DLP services aim to protect sensitive data and prevent insider threats while ensuring quick deployment and minimal disruption to productivity.
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