Cloudflare, Inc. - NET STOCK NEWS

Forgepoint Capital has launched Surefire Cyber, an incident response firm, with $10 million in Series A funding. The startup aims to enhance cyber event management for insurers, brokers, and law firms. Surefire Cyber is the second venture incubated by Forgepoint, which has a successful track record, including the previous launch of SolCyber. Forgepoint's support includes recruiting and platform development, aiming to accelerate time to response in cyber incidents. The firm continues to build its portfolio, having added 36 companies and completed 22 financings in 2021 alone.

Cloudflare (NYSE: NET) has announced its first office in the Middle East, located in Dubai, aimed at enhancing its operations in the region. This expansion is part of a broader strategy to support growth in EMEA. The new office will focus on brand awareness, customer acquisition, and recruitment, led by Bashar Bashaireh, who brings over 25 years of experience. Dubai is crucial for Cloudflare, housing one of its 27 regional data centers. With a rapidly growing workforce, Cloudflare plans to launch new data centers and increase market share in the Middle East and Turkey.

Cloudflare has joined the EU Cloud Code of Conduct to enhance trust in GDPR-compliant cloud services. The company has also attained two new certifications: ISO/IEC 27018:2019 and C5, strengthening its commitment to data protection in Europe. These developments will foster wider adoption of cloud services by addressing data privacy concerns. The EU Cloud Code of Conduct has been approved by the Belgium Data Protection Authority, ensuring compliance across cloud service layers.

Cloudflare (NYSE: NET) has announced the launch of Cloudflare D1, a serverless database designed to simplify data management for developers. This instant database integrates seamlessly with Cloudflare Workers, enabling fast application development with minimal setup. Key features include automatic data location for optimal performance, easy database creation, and low data transfer costs, as Cloudflare will not charge for data transfers. By leveraging its global network, Cloudflare D1 aims to provide one of the largest and most efficient serverless databases available.

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.