Cloudflare Inc Q1 2024 Earnings Call Summary - Thomson StreetEvents

Cloudflare Inc Q1 2024 Earnings Call Summary

Cloudflare Inc Q1 2024 Earnings Call Summary - Thomson StreetEvents
Cloudflare Inc Q1 2024 Earnings Call Summary
Published May 02, 2024
15 pages (9879 words) — Published May 02, 2024
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Abstract:

Edited Brief of NET.N earnings conference call or presentation 2-May-24 9:00pm GMT

  
Brief Excerpt:

...B. We added 122 new large customers, those that pay us more than $100,000 per year and now have 2,878 large customers, up 33% year-over-year. C. Revenue contribution from our large customers during the quarter increased to 67%, up from 62% in the first quarter last year. D. Digging into our largest customers, we added a record number of net new customers year-over-year spending more than $100,000, $500,000 and $1 million on an annualized basis. E. Our dollar-based net retention held steady quarter-over-quarter at 115%. F. Our gross margin was 79.5%, again, above our long-term target range of 75% to 77% and up from 78.9% last quarter. G. We delivered operating profit of $42.4 million, representing an operating margin of 11.2%. H. Our gross margin and operating margin performance underscore Cloudflare's efficiency and increasing operational excellence. I. We again meaningfully outperformed on free cash flow, generating $35.6 million during the quarter. J. The number of applicants for strategic...

  
Report Type:

Brief

Source:
Company:
Cloudflare Inc
Ticker
NET.N
Time
9:00pm GMT
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
Thomson StreetEvents. "Cloudflare Inc Q1 2024 Earnings Call Summary" May 02, 2024. Alacra Store. May 22, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2024-Cloudflare-Inc-Earnings-Call-B15944007>
  
APA:
Thomson StreetEvents. (2024). Cloudflare Inc Q1 2024 Earnings Call Summary May 02, 2024. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2024-Cloudflare-Inc-Earnings-Call-B15944007>
  
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