Cloudflare, Inc. (NET)

Cloudflare beat expectations on both the top and bottom line in the fiscal second quarter of 2026, reported on Aug. 6, 2026, based on preliminary results, as revenue rose about 36% to roughly $696.1 million from roughly $512.3 million a year ago and came in about 5% above the $664.7 million consensus; adjusted EPS of $0.29, up about 38% from $0.21 a year ago, also topped the $0.27 estimate by about 8%. Gross profit reached about $499.5 million, with gross margin near 72%, while operating income was negative about $205.7 million and operating margin was roughly -30%. Direct customers remained the largest segment at about $446.8 million, up about 22%, and channel partners climbed about 71% to roughly $193.0 million. Revenue was concentrated in the United States at about $315.8 million, up about 35%, with Europe, the Middle East and Africa at roughly $175.7 million, up about 31%. Operating cash flow was about $275.9 million, and Cloudflare repurchased about $29.5 million of stock.