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 has joined the Microsoft Intelligent Security Association (MISA), enhancing its collaboration with Microsoft to combat growing cybersecurity threats. This partnership allows customers to seamlessly integrate Cloudflare's Web Application Firewall (WAF) with Azure Active Directory, improving security for web applications. With a presence in over 250 cities globally, Cloudflare protects against approximately 87 billion cyber threats daily, leveraging advanced machine learning for enhanced defense. This collaboration aims to deepen product integrations and better equip organizations to handle evolving cyber challenges.
Cloudflare, Inc. (NYSE: NET) announced the implementation of server support for Early Hints, a new Internet standard that can increase website loading speeds by over 30%. This initiative, in collaboration with major browsers, aims to enhance user experiences by allowing browsers to preload critical webpage elements more efficiently. Cloudflare's technology will operate without server modifications, utilizing its global network and machine learning capabilities. This advancement may significantly impact website performance, influencing conversion rates positively for businesses.
Cloudflare, Inc. (NYSE: NET) has significantly expanded its global network, now covering over 250 cities in more than 100 countries. This expansion has tripled its overall network capacity to 100Tbps and increased city coverage by 25% in two years. The company's focus is on enhancing Internet speed and reliability by bringing data centers closer to users. Recent additions include locations in Cork, Ireland; Palermo, Italy; and Ekaterinburg, Russia. Cloudflare has also established partnerships in Brazil, marking one of its largest expansions in a single country.
Atlassian Corporation Plc (NASDAQ: TEAM) has appointed Michelle Zatlyn, co-Founder and COO of Cloudflare, Inc. (NYSE: NET), to its board of directors. Zatlyn's experience includes transforming Cloudflare into a leading Internet security company, which blocks an average of 87 billion cyber threats each day for its clients. Her leadership is expected to bring fresh perspectives to Atlassian, which provides team collaboration software to over 200,000 customers. Zatlyn holds a B.Sc. from McGill University and an MBA from Harvard Business School.
Cloudflare has priced $1.125 billion of 0% Convertible Senior Notes due 2026, increasing from an initial $1.0 billion offering. The notes will not bear regular cash interest and have a conversion price of approximately $191.34 per share, a 52.5% premium over Cloudflare's recent stock price. The offering is expected to yield around $1.1 billion in net proceeds, intended for capped call transactions and general corporate purposes. Concurrently, Cloudflare plans to exchange $400 million of its 2025 Notes for cash and stock.
Cloudflare, Inc. (NYSE: NET) has announced a private offering of $1 billion of Convertible Senior Notes due 2026, with an additional option for $150 million. These senior, unsecured obligations will have a semi-annual interest, convertible into cash, stock, or a mix. The proceeds will fund capped call transactions, Notes Exchange with 2025 Notes holders, and general corporate needs. The offering is aimed at qualified institutional buyers under Rule 144A, not registered under the Securities Act.
Cloudflare reported a robust second quarter, ending June 30, 2021, with revenue of $152.4 million, marking a 53% year-over-year growth. The company achieved a gross profit of $117.4 million, reflecting a 77.0% gross margin. Despite an operating loss of $28.9 million, the non-GAAP loss from operations improved to $4.0 million. The net loss stood at $35.5 million, with a net loss per share of $0.12. Cloudflare ended the quarter with $1,033.5 million in cash and equivalents, and recorded net cash flow from operations of $7.5 million.
Cloudflare (NYSE: NET) announced its commitment to achieving a zero-carbon Internet. By 2025, it aims to operate on 100% renewable energy and eliminate all historical carbon emissions since its inception. Currently, its network supports 17% of the web. Cloudflare is also launching sustainable edge computing services, enabling businesses to route traffic through renewable energy-powered data centers. Customers can track their carbon footprint with the Carbon Impact Report and automatically receive green certification for websites built on Cloudflare Pages.
Cloudflare (NYSE: NET) has launched Project Pangea, an initiative aimed at enhancing Internet access for underserved communities globally. This program provides free performance and security services, enabling local groups and nonprofits to construct their own telecom infrastructure without incurring high bandwidth costs. With nearly half the world's population lacking reliable Internet access, Cloudflare's solution offers a pathway for these communities to achieve dependable connectivity. The initiative supports community networks with Cloudflare's global infrastructure, enhancing digital equity.
Cloudflare, Inc. (NYSE: NET) announced its recent listing in the FedRAMP marketplace, a significant step toward full authorization, enabling more federal agencies to utilize its security, performance, and Zero Trust solutions. Amid rising cyber threats, the Biden administration is modernizing government security protocols, enhancing threat visibility. Cloudflare supports critical functions for several federal agencies, including election infrastructure, by offering its services for free through the Athenian Project.
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