Cloudflare Net Stock Eyes $621.9 Million Q1 Revenue
Cloudflare net stock heads into May 7 with first-quarter 2026 revenue expected at $621.9 million and non-GAAP earnings of 23 cents per share. The setup centers on whether the company can extend a run of beats while keeping growth near 30% year over year. For shareholders, the report will reset expectations around how much of that pace is coming from large customers.
Cloudflare's $621.9 Million Estimate
$621.9 million is the Zacks Consensus Estimate for Cloudflare’s first-quarter revenue, just above the company’s own range of $620 million to $621 million. That puts the market’s read slightly ahead of management’s target and points to 29.8% year-over-year revenue growth if the estimate holds.
23 cents per share is the consensus earnings estimate for the quarter, matching Cloudflare’s own expectation. The figure implies 43.8% growth from the same quarter last year and leaves the stock sensitive to any gap between revenue mix, expense control, and recognition timing.
60 days is how long the earnings estimate has stayed unchanged. That stability suggests analysts have not moved their numbers despite the company’s recent execution, which limits the room for a surprise tied only to late-quarter estimate revisions.
Trailing Four Quarters for NET
4 quarters is the streak Cloudflare has run by beating the Zacks Consensus Estimate each time. The average surprise was 9.44% over that span, a record that gives this report a higher bar than a routine quarterly update.
0.00% is the Earnings ESP for NET, and the stock also carries a Zacks Rank #3. Taken together, those two measures point to a narrower statistical edge than the trailing beat streak alone, so the earnings print has to do the work on its own rather than rely on a favorable estimate gap.
289 large customers were added in Q4 2025, lifting the total to 4,298 large customers contributing $100,000 in annual revenues. That base matters because roughly 69% of Cloudflare’s 2025 revenues came from large customers, making that group the clearest lever behind the quarter’s top-line figure.
2025 Large-Customer Base
50% of Cloudflare’s 2025 revenues came from outside the United States, showing how much the company already depends on demand beyond one market. Geopolitical and macroeconomic challenges have made it harder to close large deals and have affected revenue recognition, which gives the upcoming report a second pressure point beyond simple growth math.
May 7, 2026 is the date investors get the answer in first-quarter 2026 results. If revenue lands near the consensus and earnings hold at 23 cents per share, the next debate shifts to whether Cloudflare can keep converting large-customer additions into revenue growth without losing pace on deal timing or recognition.
