Cloudflare reported Q1 total revenue of $378.6 million, representing an increase of 30% year-over-year. Non-GAAP net income per diluted share was $0.16, compared to $0.08 in the first quarter of 2023.
“The first quarter marked a strong start to the year, as we grew revenue 30% year-over-year to $378.6 million—fueled by a record number of net-new customers year-over-year spending more than $100,000, $500,000, and $1 million with Cloudflare on an annualized basis. I’m incredibly proud of the fact that our team has been able to continue to build our network, service larger and larger customers, and launch entirely new categories of products—including in the AI space—while also remaining disciplined with our gross and operating margins and our free cash flow,” said Matthew Prince, co-founder & CEO of Cloudflare.
