NYSE$NET
Cloudflare · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Cloudflare had its strongest quarter ever as a public company, with revenue growth accelerating and a record number of large customers added.
Cloudflare's second quarter revenue totaled $152.4 million, representing an increase of 53% year-over-year. The company also added a record number of large customers, signing the equivalent of more than two six-figure customers every single business day in Q2.
- Total revenue reached $152.4 million, a 53% increase year-over-year.
- Dollar-based net retention rate hit a record 124%, up 900 basis points year-over-year.
- The company added a record of roughly 140 large customers, bringing the total to 1,088.
- GAAP gross profit was $117.4 million, with a 77.0% gross margin.
Headline financials
Revenue & EPS history
Cloudflare · Revenue · Quarterly
$152M
Forward guidance
For the third quarter of fiscal 2021, Cloudflare expects total revenue of $165.0 to $166.0 million and non-GAAP net loss per share of $0.04 to $0.03. For the full year fiscal 2021, the company expects total revenue of $629 to $633 million and non-GAAP net loss per share of $0.12 to $0.11.
Tailwinds
- Total revenue of $165.0 to $166.0 million is expected for Q3 2021.
- Non-GAAP loss from operations of $9.5 to $8.5 million is expected for Q3 2021.
- Non-GAAP net loss per share of $0.04 to $0.03 is expected for Q3 2021.
- Total revenue of $629 to $633 million is expected for the full year fiscal 2021.
- Non-GAAP net loss per share of $0.12 to $0.11 is expected for the full year fiscal 2021.
Headwinds
- The forward-looking statements are subject to substantial uncertainty due to the ongoing COVID-19 pandemic.
- The estimates are based on the impact of the pandemic on operations as of August 5, 2021.
- The estimates are highly dependent on numerous factors that may not be predictable or controllable.
- The pandemic's duration, spread, and severity could impact customer demand and spending patterns.
- Global and regional economies and economic activity generally could be impacted by the pandemic.
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 Q2 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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