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's Project Galileo celebrates its 10th anniversary, marking a decade of offering free DDoS protection to over 2,600 public interest organizations across 111 countries. The project handles around 96 million DDoS attacks daily, safeguarding entities such as human rights groups and independent journalists. Key highlights include mitigating nearly 32 billion cyber threats between May 2023 and March 2024 and notable attacks targeting organizations like Meduza and those related to the Israel-Hamas conflict. The initiative underscores Cloudflare's mission to support free expression online, with testimonials from various beneficiaries affirming its critical role in their operations.
CrowdStrike and Cloudflare (NYSE: NET) announced an expanded strategic partnership aimed at enhancing cybersecurity from device to network. This alliance integrates Cloudflare's Zero Trust protection from Cloudflare One™ with CrowdStrike Falcon®'s AI-native cybersecurity platform. The collaboration aims to simplify vendor management, reduce costs, and operational complexity for global customers. This partnership targets the increasing sophistication of cyber threats, providing a robust, holistic security approach for organizations. The integration offers a single API for seamless security management, enhancing threat detection and response across endpoints, cloud, identity, data, and applications.
Cloudflare, a leading connectivity cloud company, has acquired BastionZero to enhance its Cloudflare One platform by adding Zero Trust infrastructure access controls. This acquisition aims to bolster remote access security for critical IT systems, benefiting hybrid and remote work environments.
Cloudflare One will now include advanced Zero Trust controls for infrastructure such as servers, Kubernetes clusters, and databases. This move is intended to replace traditional VPN setups, which often grant overly permissive access, with more secure and flexible options. The integration promises increased security, compliance, control, and reduced complexity for IT teams.
This acquisition aligns with the growing demand for secure access service edge (SASE) solutions, a market projected to reach $25 billion by 2027 with a compound annual growth rate of 29%, according to Gartner. The addition of BastionZero is expected to strengthen Cloudflare's position in this rapidly growing market.
Cloudflare, in collaboration with the U.S. Department of Treasury and Pacific Northwest National Laboratory, is providing advanced threat intelligence to financial institutions through a new partnership. This initiative aims to enhance cyber resilience in the financial services industry by offering a Custom Indicator Feed to combat ransomware, phishing, and other threats. The partnership will enable financial services organizations using Cloudflare Gateway to access exclusive threat indicators for better defense against cyberattacks.
Cloudflare, Inc. (NYSE: NET) announced Cloudflare for Unified Risk Posture, a new suite of risk management solutions to identify, evaluate, and manage cyber threats. The offering includes partnerships with leading security providers to enhance threat remediation. This solution aims to simplify risk management for organizations across all attack vectors, internal and external, providing real-time threat assessment and control capabilities globally.
Cloudflare, Inc. (NYSE: NET) reported strong first quarter financial results for 2024, with a 30% year-over-year revenue increase to $378.6 million. The company also achieved record net-new customers spending over $100,000, $500,000, and $1 million annually. Cloudflare's GAAP gross profit was $293.6 million, with a 77.5% margin, while non-GAAP income from operations reached $42.4 million. Operating cash flow was $73.6 million, and free cash flow was $35.6 million. Cloudflare's CEO, Matthew Prince, highlighted the company's growth, innovation, and customer expansion, emphasizing a positive outlook for the future.
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