- Q1 beat: Adj. EPS $0.25 vs. $0.23 est.; revenue $639.8m vs. $620.8m est., +34% YoY
- FY26 outlook raised: Revenue now $2.805-2.813 bn vs. ~$2.79 bn Est.; Adj. EPS $1.19-1.20 vs. $1.13 Est.
- Burdensome: Q2 revenue guidance slightly below consensus and revenue growth stops accelerating for the first time in four quarters
- Cloudflare cuts 1,100+ jobs or around 20% of its workforce as it transforms to an "Agentic AI-first" model
- Barclays sees ~$220m savings and potential Rule of 50 profile in FY27; Wolfe remains Peer Perform, citing high valuation at ~22x EV/CY27 sales
- Current: $211.10, -17.8% pre-market