Cloudflare, Inc. - NET STOCK NEWS

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.

Cloudflare, Inc. (NYSE: NET) has acquired Zaraz, a company specializing in optimizing website performance and security by managing third-party tools. This marks Cloudflare's first acquisition of a company built on its developer platform, Cloudflare Workers. The transaction aims to enhance website speed and protect user privacy by reducing the reliance on multiple third-party services. Both companies express excitement about the potential for innovation and performance improvements in the digital space.

Cloudflare has launched the Oahu Program to assist organizations in migrating from traditional firewalls to its Zero Trust firewall solution. This initiative provides resources, capabilities, and potential discounts to streamline the transition. The cloud-native firewall allows CIOs to secure their networks without the complexities of hardware systems, supporting traffic from diverse sources. The company reported significant growth, with customers doubling year-over-year and daily traffic peaking at over 1.69Tbps. This advancement positions Cloudflare as a key player in network security.

Cloudflare (NYSE: NET) has surpassed two million applications on its platform, unveiling new tools and integrations aimed at simplifying application development. The company introduces features that enhance data management for developers, including Durable Objects, partnerships with MongoDB and Prisma, and new database connectors. These innovations are designed to streamline the use of existing databases and enhance the capabilities of Cloudflare Workers, enabling developers to build complex applications more efficiently.

Cloudflare, Inc. (NYSE: NET) announced that Oracle has joined the Bandwidth Alliance, an initiative aimed at eliminating unnecessary data transfer fees across the industry. This partnership enables customers using both Cloudflare and Oracle's services to avoid high data transfer costs. With 19 members now, the Bandwidth Alliance facilitates significant savings for shared customers. Oracle already offers competitive pricing for data transfers, allowing zero egress for data sourced from its Cloud Infrastructure, and aims to expand this globally.

Cloudflare reported a remarkable 51% revenue growth in Q3 2021, totaling $172.3 million. The company achieved a record addition of approximately 170 large customers, raising the total to 1,260, a 71% increase year-over-year. Despite a GAAP net loss of $107.3 million, Cloudflare reached non-GAAP break-even net income of $1.4 million, ahead of its timeline. GAAP gross profit margins improved to 78.2%, demonstrating robust operational efficiency.