Cloudflare, Inc. - NET STOCK NEWS

Cloudflare (NYSE: NET) has launched Cloudflare for Platforms, a suite of tools to empower organizations to transform any application into a programmable platform for developers. This allows businesses to customize applications without relying on costly external servers and engineering resources. Built on Cloudflare Workers, it enables developers to build custom functionalities while maintaining performance and security. The initiative aims to simplify integration and scaling for businesses, significantly enhancing their operational efficiency.

Cloudflare (NYSE: NET) collaborates with Deno and Node.js to create a unified JavaScript environment, enhancing developer flexibility and interoperability in edge computing. The Web-interoperable Runtimes Community Group aims to standardize code transferability across platforms, reducing resource costs for development teams. More than 450,000 developers have utilized Cloudflare Workers since 2017, with 3 million applications launched. This initiative seeks to establish a foundation for future application development while ensuring code compatibility across various environments.

Cloudflare (NYSE: NET) has appointed Carlos Torales Montero as Vice President, Head of Sales for Latin America, to capitalize on the region's growing online market, which boasts nearly 500 million Internet users. Torales brings over 20 years of technology experience, including a tenure at Cisco. Since its 2014 investment in Latin America, Cloudflare has expanded its network to 36 cities in the region, aiming for further growth. The company continues to thwart significant cyber threats, blocking nearly seven billion attacks daily, underlining its commitment to enhancing security and performance for its customer base.

Cloudflare, Inc. (NYSE: NET) reported impressive first-quarter results for 2022, with total revenue reaching $212.2 million, reflecting a 54% year-over-year increase. The company achieved a record dollar-based net retention rate of 127%, up 400 basis points year-over-year, and added approximately 14,000 new paying customers, totaling 154,109 customers. Despite a GAAP net loss of $41.4 million, improved non-GAAP net income of $3.5 million highlights operational efficiency. Cloudflare maintains a robust cash position of $1,725.2 million as of March 31, 2022.

Cloudflare, Inc. (NYSE: NET) is set to release its financial results for Q1 ended March 31, 2022, on May 5, 2022, after market close. An investor conference call will take place at 2:00 p.m. PT to discuss these results, with access via phone or a live webcast on the investor relations website. Additionally, an Investor Day event is scheduled for May 12, 2022, alongside the Cloudflare Connect user conference in New York, starting at 9:00 a.m. ET. Webcasts will also be available for both events.

Cloudflare (NYSE: NET) has completed its acquisition of Area 1 Security, enhancing its Zero Trust security platform with advanced email protection. This merger addresses critical security threats, including phishing, which costs U.S. businesses over $2.4 billion annually. Cloudflare aims to provide an integrated approach to email security, enabling organizations to block various threats easily. Area 1's technology will be available immediately for enterprise customers, fortifying Cloudflare's global network and streamlining security for organizations.

Cloudflare (NYSE: NET) and CrowdStrike (NASDAQ: CRWD) announce an expansion of their partnership to enhance Zero Trust security solutions for businesses. The integration of Cloudflare's Zero Trust platform with CrowdStrike's Falcon Zero Trust Assessment (ZTA) aims to provide secure access and robust controls for users, regardless of their location. This collaboration addresses the challenges businesses face in adopting Zero Trust practices, leveraging CrowdStrike's threat intelligence and Cloudflare's global network capabilities.

Cloudflare, Inc. (NYSE: NET) has launched the Cloudflare API Gateway, aimed at simplifying the security and management of APIs. With growing API usage generating over 50% of all HTTP requests on Cloudflare's network, the company targets challenges related to API security. The API Gateway enables businesses to identify and secure unmanaged APIs, manage API requests effectively, and leverage advanced machine learning for real-time protection. Key features include automatic detection of API abuse, offloading of authentication processes, and seamless API management, set against a backdrop of increasing cyber threats.

Cloudflare (NYSE: NET) has been recognized as a leader in the IDC MarketScape: Worldwide Commercial CDN 2022 Vendor Assessment, highlighting its strong strategy for technology investment and network expansion. The report emphasizes Cloudflare's global network, which spans over 250 cities and interconnects with more than 10,000 networks, achieving a 25% growth in network size and doubling its capacity to 121Tbps in two years. The company’s enterprise security solutions, particularly its Zero Trust suite, are noted for meeting the security needs of a distributed workforce.