Summary by Futu AI
Cloudflare, a global network services provider, has reported a robust financial performance for the quarter ended June 30, 2024. The company's revenue saw a significant increase of 30% year-over-year, reaching $400.996 million. Gross profit also rose to $311.985 million, with a gross margin improvement from 76% to 78%. Despite these gains, Cloudflare experienced a loss from operations of $34.698 million, although this was a reduction from the previous year's $56.172 million. The non-GAAP income from operations stood at $56.953 million, a substantial increase from $20.305 million in the same quarter of the previous year. The company's net cash provided by operating activities was $74.815 million, up from $64.451 million year-over-year. Cloudflare's paying customer base grew to 210,166, a 21% increase, and the number of customers contributing...Show More