Cloudflare, Inc. - NET STOCK NEWS

The Critical Infrastructure Defense Project is a collaborative initiative by Cloudflare (NYSE: NET), CrowdStrike (NASDAQ: CRWD), and Ping Identity (NYSE: PING) to offer free cybersecurity services to U.S. hospitals and utilities. This project aims to enhance defenses against rising cyber threats amid the geopolitical landscape, particularly following heightened risks like the Russian invasion of Ukraine. Eligible organizations will gain access to a suite of Zero Trust solutions, endpoint protection, and tailored security roadmaps to bolster their cybersecurity measures.

Cloudflare (NYSE: NET) announced its agreement to acquire Area 1 Security for approximately $162 million, with 40-50% of the payment in stock. This acquisition will enhance Cloudflare's email security capabilities within its Zero Trust framework by integrating Area 1's anti-phishing platform, which blocked over 40 million phishing threats in 2021. The deal anticipates closing early in Q2 2022. This strategic move underscores the growing need for effective email security as phishing remains a major cyber threat, costing U.S. businesses more than $1.8 billion annually.

Cloudflare (NYSE: NET) partners with At-Bay to provide three free months of cybersecurity services to existing insurance customers. This offering aims to enhance security measures amidst rising cyber threats. Cloudflare's web application firewall (WAF) allows businesses to mitigate risks related to vulnerabilities like Log4j. Both companies emphasize the importance of adopting robust security practices, noting that while WAFs are beneficial, they do not replace the need for software updates. This initiative is part of an ongoing effort to improve access to cyber insurance for businesses.

Cloudflare, Inc. (NYSE: NET) has acquired Vectrix, enhancing its Zero Trust platform, Cloudflare One. This acquisition enables security teams to gain visibility and control over SaaS applications like Google Workspace and AWS, addressing security challenges due to increased SaaS usage. The deal is strategically significant as it integrates Vectrix's API-driven cloud access security broker functionality into Cloudflare’s offerings. Gartner predicts global spending on SaaS will rise from $174B in 2022 to over $279B by 2025, underscoring the growing need for enhanced security solutions.

Cloudflare reported strong Q4 2021 revenue of $193.6 million, a 54% increase year-over-year, and a full-year revenue of $656.4 million, up 52%. The company achieved a record dollar-based net retention of 125% and had significant cash flow, with $40.6 million from operations. However, GAAP net loss for Q4 was $77.5 million, worsening from $34.0 million in Q4 2020. For the fiscal year, GAAP net loss reached $260.3 million, up from $119.4 million. Despite these losses, non-GAAP metrics showed improvement, indicating operational resilience.

Cloudflare, Inc. (NYSE: NET) will report its fourth quarter financial results for the year ended December 31, 2021, after the market closes on February 10, 2022. An investor conference call is scheduled for the same day at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Interested parties can join via phone or access a live webcast on the Cloudflare website, with a replay available for 30 days after the event.

Cloudflare aims to enhance Internet security and performance, offering a suite of products that require no hardware or software changes.

Cloudflare (NYSE: NET) has published its first annual Impact Report, detailing commitments to a sustainable Internet. Key highlights include operating on 100% renewable energy and a goal to remove all historical carbon emissions by 2025. The company has improved its energy efficiency by 50% and supports initiatives like Project Fair Shot, aiding 100 organizations in vaccine distribution. Additionally, Cloudflare protects 1,600 civil society organizations from cyber threats, averaging 53 million threats blocked daily. The report showcases Cloudflare's commitment to a better, more equitable, and secure Internet.

Cloudflare has announced its inclusion in the Microsoft 365 Networking Partner Program, enhancing its Zero Trust platform, Cloudflare One. This partnership allows customers improved connectivity to Microsoft 365 services, promoting faster performance and a better user experience. The integration aims to reduce network complexity and costs while improving security and network performance. Cloudflare's global network counters over 76 billion cyber threats daily, positioning itself as a leader in internet security.

Cloudflare (NYSE: NET) has partnered with leading cyber insurance companies to provide better access and rates for businesses of all sizes. Customers using Cloudflare to secure their websites and networks can qualify for discounts from providers like At-Bay and Cowbell Cyber. This initiative comes as cyber insurance demand surges, with premiums rising over 25% in 2021. In Q3 2021, Cloudflare mitigated one of the largest DDoS attacks recorded, further enhancing its appeal to insurers. Collaborations with incident response firms aim to streamline support for companies under attack.