Cloudflare Q4 Revenue Up 33.6% to $614.5M, Sets $2.795B FY26 Guidance
Cloudflare posted Q4 2025 revenue of $614.5 million, up 33.6% year-over-year, with 4,298 customers paying over $100,000 annually (up 23% YoY), and guided FY2026 revenue to $2.785-2.795 billion. Citi raised its price target to $265 and Scotiabank set a $225 target, citing strong demand for Cloudflare’s global edge security platform.
1. Q4 2025 Financial Results
Cloudflare delivered Q4 2025 revenue of $614.5 million, marking a 33.6% increase year-over-year. The growth was driven by 4,298 enterprise customers each paying over $100,000 annually, representing a 23% rise in high-value clients compared to the prior year.
2. FY2026 Revenue Guidance
Management projected total revenue between $2.785 billion and $2.795 billion for the full year 2026, reflecting confidence in continued demand for its integrated security and performance services across cloud and edge networks.
3. Analyst Ratings and Price Targets
Citi boosted its price target on Cloudflare shares to $265 with a Buy rating, while Scotiabank maintained a Sector Perform rating and set a $225 target, both citing robust demand for Cloudflare’s global edge security platform.