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Cloudflare | ARS: Annual Report to Security Holders

SEC announcement ·  Apr 19 16:20
Summary by Moomoo AI
Cloudflare, Inc., a global cloud services provider, has released its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The report includes comprehensive financial statements and notes, management's discussion and analysis of financial condition and results of operations, and information on the company's internal control over financial reporting. Cloudflare reported a 33% increase in revenue to $1.296 billion, with a net loss of $183.9 million. The company's gross margin remained consistent at 76%, and operating expenses increased due to investments in sales, marketing, research, and development. Cloudflare's international operations accounted for 48% of revenue, and the company continues to focus on expanding its customer base, particularly large customers, and developing new products. The report also covers the company's...Show More
Cloudflare, Inc., a global cloud services provider, has released its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The report includes comprehensive financial statements and notes, management's discussion and analysis of financial condition and results of operations, and information on the company's internal control over financial reporting. Cloudflare reported a 33% increase in revenue to $1.296 billion, with a net loss of $183.9 million. The company's gross margin remained consistent at 76%, and operating expenses increased due to investments in sales, marketing, research, and development. Cloudflare's international operations accounted for 48% of revenue, and the company continues to focus on expanding its customer base, particularly large customers, and developing new products. The report also covers the company's equity incentive plans, stock-based compensation, and details of business acquisitions, including the purchase of Area 1 Security, Inc. and Vectrix Security, Inc. Cloudflare's CEO, President, COO, and CFO have evaluated the effectiveness of disclosure controls and procedures, concluding they were effective as of December 31, 2023. The company's internal control over financial reporting was also deemed effective. Cloudflare's financial position includes cash, cash equivalents, and available-for-sale securities totaling $1.674 billion. The company's future plans involve continued investment in its global network and products, with expectations of increased operating expenses and continued revenue growth.

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