Cloudflare · Q3 2022 earnings

Briefing

Cloudflare's revenue increased by 47% year-over-year, surpassing $1 billion in annualized revenue. The company added 159 large customers, bringing the total to 1,908. GAAP loss from operations was $45.9 million, while non-GAAP income from operations was $14.8 million.

Cloudflare's Q3 2022 results showed strong revenue growth, reaching $253.9 million, a 47% increase year-over-year. The company surpassed $1 billion in annualized revenue and saw significant growth in large customers. While GAAP operating loss was $45.9 million, non-GAAP operating income reached $14.8 million.

• Total revenue reached $253.9 million, a 47% increase year-over-year.
• The company surpassed $1 billion in annualized revenue.
• Added 159 large customers, bringing the total to 1,908.
• GAAP loss from operations was $45.9 million, while non-GAAP income from operations was $14.8 million.

Headline financials

Revenue & EPS history

For the fourth quarter of fiscal 2022, Cloudflare expects total revenue of $273.5 to $274.5 million, non-GAAP income from operations of $12.0 to $13.0 million, and non-GAAP net income per share of $0.04 to $0.05, utilizing weighted average common shares outstanding of approximately 343 million. For the full year fiscal 2022, they expect total revenue of $974.0 to $975.0 million, non-GAAP income from operations of $31.0 to $32.0 million, and non-GAAP net income per share of $0.11 to $0.12, utilizing weighted average common shares outstanding of approximately 342 million.