Cloudflare has published its financial results for the second quarter of 2026, showing revenue of $696.1 million, up 36% year over year. On a GAAP basis, the company recorded an operating loss of $205.7 million. Non-GAAP operating income was $96.1 million, for a 13.8% operating margin. GAAP net loss was $170.0 million. Non-GAAP net income reached $107.8 million, or $0.29 per diluted share. Operating cash flow was $117.6 million. Free cash flow came to $56.4 million, representing an 8% margin. The company ended the quarter with $4.163 billion in cash and marketable securities. Chief Executive Officer Matthew Prince said the internet is going through a structural shift toward machine-to-machine traffic. He positioned Cloudflare as the core provider of infrastructure, developer tools and payment rails for the "agent internet." For the third quarter, Cloudflare expects revenue of $736 million to $737 million and non-GAAP operating profit of $129 million to $130 million. The company raised full-year revenue guidance to $2.864 billion to $2.870 billion. Current cRPO rose 35% year over year.
Earnings
Cloudflare published its second-quarter 2026 earnings. Revenue came in at $696.1 million, up 36% year over year. GAAP operating loss was $205.7 million. On a non-GAAP basis, operating income reached $96.1 million, implying an operating margin of 13.8%. GAAP net loss totaled $170.0 million. Non-GAAP net income was $107.8 million, or $0.29 per diluted share.
Cash Flow
The company generated $117.6 million in operating cash flow. Free cash flow was $56.4 million, an 8% margin. It ended the quarter with $4.163 billion in cash and marketable securities.
CEO Commentary
CEO Matthew Prince said the internet is undergoing a structural shift toward machine-to-machine flows. He framed Cloudflare as the core provider of infrastructure, developer tools and payment rails for the "agent internet."
Guidance
For the third quarter, Cloudflare expects revenue between $736 million and $737 million. Non-GAAP operating profit is projected at $129 million to $130 million. The company raised its full-year revenue guidance to $2.864 billion to $2.870 billion. Current cRPO increased 35% year over year.
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