Cloudflare announced financial results for its third quarter ended September 30, 2022. Non-GAAP net income per diluted share was $0.06, compared to non-GAAP net income per diluted share of $0.00 in the third quarter of 2021.
“We achieved an important milestone in the third quarter, surpassing $1 billion in annualized revenue for the first time. The opportunity we have in front of us is enormous. Even with this achievement, we’ve penetrated less than 1 percent of our identified market for the products we have available today,” said Matthew Prince, co-founder & CEO of Cloudflare. “This milestone is a testament to our enormous market opportunity, our ability to land and expand our largest enterprise customers, and the durability of our subscription-based revenue model. Now, we’re focused on the path to organically achieve $5 billion in annualized revenue in 5 years, and we’re confident we have the products already in-market to get us there.”
