Financial Performance - Total revenue reached $1.67 billion in 2024, demonstrating a 26% compound annual growth rate (CAGR)[12] - Q2 2025 revenue was $512 million[12] - Non-GAAP gross margin stood at 76% as of Q2 2025[14] - The company projects full-year 2025 revenue between $2.1135 billion and $2.1155 billion, representing a 27% year-over-year growth[86] Customer Growth - The company had 265,000 paying customers as of Q2 2025, reflecting a 21% CAGR[14, 69] - Large customers (>$100,000 annualized revenue) numbered 3,712 in Q2 2025, with a 29% CAGR[12, 69] - Revenue from large customers accounted for 71% of the total revenue[14, 33] Network and Security - The platform blocks an average of 190 billion cyber threats per day[33, 43] - The network spans 330 cities across 125+ countries[14, 37] - 95% of the world's Internet-connected population is within ~50 ms of a Cloudflare data center[37] Market Opportunity - The company estimates a large addressable market of $181 billion in 2025[51, 62]

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