Summary by Moomoo AI
Cloudflare, a global network services provider, has reported a 33% increase in revenue year-over-year, reaching $1.296 billion for the year ended December 31, 2023. Despite this growth, the company experienced a net loss of $183.9 million, an improvement from the previous year's net loss of $193.4 million. The gross margin remained consistent at 76%. Operating expenses rose across the board, with sales and marketing up by 29%, research and development by 20%, and general and administrative by 21%. The company highlighted its investment in product development, network growth, and an efficient go-to-market model as key elements of its business strategy. Cloudflare's international revenue accounted for 48% of the total in 2023, consistent with the previous two years. The company also emphasized the importance of its free...Show More