Cloudflare's Q3 2026 results
Revenue reached $783 million, up 39% year over year; adjusted EPS was $0.38.
The realized current RPO increased by 37% year over year.
Cash Flow: Net cash flow from operating activities was $215.4 million, compared to $167.1 million in the third quarter of 2025. Free cash flow was $82.1 million, or 10% of revenue, versus $75.0 million, or 13% of revenue, in the third quarter of 2025.
Financial Outlook
Projected for the fourth quarter of fiscal year 2026:
Total revenue was between $845 million and $846 million.
Non-GAAP revenue is expected to be between $156 million and $157 million.
Net income per share, calculated in accordance with non-GAAP measures, was $0.43, based on approximately 379 million weighted average shares outstanding.
For the full fiscal year 2026, it is expected that:
Total revenue was between $2.963 billion and $2.964 billion.
Non-GAAP revenue is expected to be between $462 million and $463 million.
Net income per share, calculated in accordance with non-GAAP measures, was $1.35, based on a weighted average of approximately 376 million common shares outstanding.
Matthew Prince, co-founder and CEO of Cloudflare, said
"The third quarter was Cloudflare's best quarter ever. Our annualized revenue surpassed the $3 billion mark, reaching $782 million, a 39% year-over-year increase. We accelerated growth, achieving our fastest revenue expansion in nearly four years, while also improving profitability. We built an AI-powered development platform for the internet— as digital threats continue to escalate, organizations of all sizes are increasingly relying on Cloudflare for security protection. Our momentum is strong, and we have identified even stronger drivers of growth to meet the challenges of the next phase."