Cloudflare Reports 131M YoY Revenue Increase

Cloudflare has released its financials for the year ending December 31, 2020, reporting a 131 million YoY revenue increase. The company reported total revenue of $718.3 million, a 131 million YoY increase from their $587.3 million reported in 2019. The company also reported a net loss of $66.2 million, compared to a net loss of $37.2 million reported in 2019. The company’s YoY revenue increase was driven by growth in enterprise sales, which grew 41% year over year.

Overview of Cloudflare’s Financials

Cloudflare recently released its financials for the year ending December 31, 2020, reporting a 131 million YoY revenue increase. The company reported total revenue of $718.3 million, a 131 million YoY increase from their $587.3 million reported in 2019. The company also reported a net loss of $66.2 million, compared to a net loss of $37.2 million reported in 2019.

Revenue Increase

Cloudflare’s YoY revenue increase was driven by strong growth in the company’s enterprise sales, which increased 41% YoY. This was partially offset by a decline in the company’s total traffic growth, which was down 5% YoY. The company reported strong growth in its total number of paying customers, which increased 22% YoY to over 6,000.

Enterprise Sales Growth

Cloudflare’s enterprise sales growth was driven primarily by the company’s expansion into new markets and the adoption of their products by larger companies. The company has seen strong growth in enterprise sales in the Asia-Pacific region, which increased 36% YoY. This was driven by the company’s expansion into new markets such as India and China. Additionally, the company saw strong growth in its enterprise sales in the US, which increased by 38% YoY.

Other Revenue Streams

Cloudflare also saw growth in its other revenue streams, such as its services and products sales and its partner program. The company’s services and products sales increased by 34% YoY, driven by the increased adoption of its products by larger companies. The company’s partner program also saw strong growth, increasing by 28% YoY.

Cost of Revenue

The company’s cost of revenue increased by 9% YoY, driven mainly by increased sales and marketing expenses. The company’s research and development expenses also increased, up 6% YoY. These increases were partially offset by a decline in the company’s general and administrative expenses, which decreased by 5% YoY.

Conclusion

Cloudflare reported strong financials for the year ending December 31, 2020, with a 131 million YoY revenue increase. The company’s YoY revenue increase was driven by strong growth in its enterprise sales, as well as its services and products sales and its partner program. The company also reported a net loss of $66.2 million, compared to a net loss of $37.2 million reported in 2019. Despite the net loss, the company’s strong growth in revenue is a positive sign for the future of the company.