Cloudflare’s revenue has increased by 51% to $83.9 million in Q4, with the effect of IPO in September, according to the company announcement.
Cloudflare went public in September. The company announced financial results for its fourth quarter and fiscal year ended December 31, 2019. While its total revenue increased by 51% to $83.9 million for the Q4, total revenue augmented to $287.0 million by an increase of 49%. In total, Q4 affected Cloudflare notch a 49% increase in revenue in its first year as a public concern.
Went public in September
Cloudflare priced the initial public offering of its Class A common stock at a price to the public of $15 per share. The shares have been traded on the New York Stock Exchange in September 2019. Its share has made a pick after IPO, however, there is any positive traction since IPO. But when we look at the Q4 results and growth strategy of Cloudflare, it is possible to say that the company closed out 2019 strong and for 2020 there are positive expectations.
For the small companies, Cloudflare provides the solution for free or a low cost. Cloudflare gets opportunity to test its new products. According to Cloudflare’s CEO Matthew Prince, the company has reached the year 2,6 million customers at the end od 2019. He commented the year 2019, saying:
“We also entered an entirely new enterprise security market with our Cloudflare for Teams offering, leveraging our unified, global platform to expand our addressable market and outperform the hardware solutions built for businesses of the past.”
It is expected that adjusted operating losses will decrease from $65 million to $61 million in 2020 because of the ongoing investment in new services and foster sales. For 2020 revenue, it is estimated a 36% increase over 2019 at the midpoint.
See more Cloud Computing News
