Summary by Moomoo AI
On February 8, 2024, Cloudflare, Inc. released its financial results for the fourth quarter and full fiscal year ended December 31, 2023. The report highlighted a 32% year-over-year increase in fourth-quarter revenue, reaching $362.5 million, and a 33% increase in annual revenue, totaling $1.296 billion. Despite a GAAP loss from operations of $42.8 million, the company reported a non-GAAP income from operations of $39.8 million. Cloudflare also achieved record operating and free cash flow for the quarter, with $85.4 million and $50.7 million, respectively. CEO Matthew Prince attributed the strong performance to robust momentum with large customers, significant progress in the public sector, and growth in Cloudflare One. For the first quarter of 2024, Cloudflare anticipates revenue between $372.5 to $373.5 million and non-GAAP income from operations of $34.0 to $35.0 million. The full-year outlook for 2024 estimates revenue between $1.648 to $1.652 billion and non-GAAP income from operations of $154.0 to $158.0 million.