Cloudflare reported robust financial results for Q2 2024, with revenue increasing 30% year-over-year to $401 million. The company's paying customer base grew 21% to 210,166, while large customers contributing over $100,000 in annualized revenue increased 29% to 3,046. Gross margin improved to 78%, up from 76% in the prior year period.The company continued to demonstrate strong operational execution, with non-GAAP operating income reaching $57 million compared to $20.3 million in Q2 2023. Cash flow from operations was $74.8 million, representing 19% of revenue. The company maintained healthy liquidity with $157 million in cash and cash equivalents, plus $1.6 billion in available-for-sale securities as of quarter end.Looking ahead, Cloudflare expanded its financial flexibility by securing a new $400 million revolving credit facility. The company also strengthened its security capabilities through the acquisition of BastionZero for $13.1 million. Management remains focused on investing in product innovation and global network expansion while maintaining operational efficiency.

Cloudflare reported robust financial results for Q2 2024, with revenue increasing 30% year-over-year to $401 million. The company's paying customer base grew 21% to 210,166, while large customers contributing over $100,000 in annualized revenue increased 29% to 3,046. Gross margin improved to 78%, up from 76% in the prior year period.The company continued to demonstrate strong operational execution, with non-GAAP operating income reaching $57 million compared to $20.3 million in Q2 2023. Cash flow from operations was $74.8 million, representing 19% of revenue. The company maintained healthy liquidity with $157 million in cash and cash equivalents, plus $1.6 billion in available-for-sale securities as of quarter end.Looking ahead, Cloudflare expanded its financial flexibility by securing a new $400 million revolving credit facility. The company also strengthened its security capabilities through the acquisition of BastionZero for $13.1 million. Management remains focused on investing in product innovation and global network expansion while maintaining operational efficiency.