NYSE$NET
Cloudflare · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Cloudflare experienced record revenue growth and customer acquisition.
Cloudflare announced strong Q1 2021 financial results, with revenue up 51% year-over-year and record dollar-based net retention of 123%. The company also saw strong growth in large customers, which now represent more than half of total revenue.
- Revenue totaled $138.1 million, a 51% year-over-year increase.
- Dollar-based net retention reached a record 123%, up 600 basis points year-over-year.
- GAAP gross profit was $106.0 million, with a gross margin of 76.8%.
- Free cash flow was negative $2.2 million, representing 2% of total revenue.
Headline financials
Revenue & EPS history
Cloudflare · Revenue · Quarterly
$138M
Forward guidance
For Q2 2021, Cloudflare expects revenue between $145.5 to $146.5 million and a non-GAAP loss per share of $0.04 to $0.03. For the full year 2021, the company anticipates revenue of $612 to $616 million and a non-GAAP loss per share of $0.11 to $0.10.
Tailwinds
- Total revenue of $145.5 to $146.5 million for Q2 2021.
- Full year 2021 total revenue of $612 to $616 million.
- Q2 2021 Non-GAAP loss from operations of $10 to $9 million.
- Full year 2021 Non-GAAP loss from operations of $28 to $24 million.
- Non-GAAP net loss per share of $0.04 to $0.03 for Q2 2021.
Headwinds
- Substantial uncertainty due to the ongoing COVID-19 pandemic.
- Impact of the pandemic on operations is estimated as of May 6, 2021.
- Estimates are highly dependent on numerous factors that may not be predictable or controllable.
- The timing of administering COVID-19 vaccines around the world and the long-term efficiency of these vaccines.
- Non-GAAP net loss per share of $0.11 to $0.10 for full year 2021.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.3%
Avg return
Earnings day
+0.7%
Avg return
5 days after
+2.6%
Avg return
30 days after
48%
13 / 27 earnings
Positive
+29.5%
Q4 2023
Best reaction
-27.4%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -23.8% | -25.0% | -2.6% | |
| Q4 2025 | +5.2% | +8.8% | +18.0% | |
| Q3 2025 | +11.6% | +2.7% | -10.0% | |
| Q2 2025 | -3.6% | +3.8% | +0.5% | |
| Q1 2025 | +6.3% | +24.3% | +44.5% | |
| Q4 2024 | +17.8% | +22.1% | -10.4% | |
| Q3 2024 | -1.4% | -1.7% | +22.1% | |
| Q2 2024 | +2.5% | -1.6% | +6.0% | |
| Q1 2024 | -15.5% | -15.8% | -23.1% | |
| Q4 2023 | +29.5% | +19.8% | +17.6% | |
| Q3 2023 | +17.2% | +20.1% | +43.4% | |
| Q2 2023 | +8.4% | +3.9% | -0.2% | |
| Q1 2023 | -21.0% | -28.0% | +2.7% | |
| Q4 2022 | +3.5% | +17.8% | -9.2% | |
| Q3 2022 | -17.7% | -19.2% | -3.1% | |
| Q2 2022 | +27.2% | +22.7% | +0.6% | |
| Q1 2022 | -27.4% | -37.0% | -39.7% | |
| Q4 2021 | -8.6% | +0.5% | -22.7% | |
| Q3 2021 | +1.2% | +5.0% | -18.0% | |
| Q2 2021 | -1.0% | +4.6% | +8.7% | |
| Q1 2021 | -9.4% | -9.8% | +5.1% | |
| Q4 2020 | -5.5% | -9.7% | -16.1% | |
| Q3 2020 | +14.9% | +9.1% | +37.8% | |
| Q2 2020 | -5.7% | -11.0% | -18.2% | |
| Q1 2020 | +5.3% | +15.4% | +16.8% | |
| Q4 2019 | -0.4% | -1.8% | +7.0% | |
| Q3 2019 | -0.6% | -0.4% | +13.9% | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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