Cloudflare Inc (NYSE:NET) reported first-quarter financial results after the market close on Thursday. Here’s a rundown of the report.

• Q1 Revenue: $479.09 million, versus estimates of $469.28 million

• Q1 Adjusted EPS: 16 cents, versus estimates of 17 cents

First-quarter revenue was up 27% on a year-over-year basis. The company reported cash flow from operations of $145.8 million and free cash flow of $52.9 million. Cloudflare ended the quarter with $1.91 billion in cash, cash equivalents and available-for-sale securities.

“We kicked off 2025 with confidence, momentum, and strong results. In Q1, we landed the largest contract in Cloudflare’s history, a more than $100 million deal driven by our Workers developer platform, and signed the longest-term SASE contract to date,” said Matthew Prince, co-founder and CEO of Cloudflare.

“We have the scale, the technology, and the team to capture the massive opportunity ahead of us — as evidenced by the size and the length of the deals we’re closing and the caliber of customers betting on Cloudflare. In a constantly changing world, one thing’s for certain: innovation wins.”

Guidance: Cloudflare expects second-quarter revenue of $500 million to $501 million versus estimates of $500.34 million, according to Benzinga Pro. The company anticipates second-quarter adjusted earnings of 18 cents versus estimates of 19 cents.

Cloudflare also affirmed its full-year 2025 guidance, including revenue of $2.09 billion to $2.094 billion versus estimates of $2.09 billion, and adjusted earnings of 79 to 80 cents per share versus estimates of 80 cents per share.

NET Price Action: Cloudflare shares were up 5.22% in Thursday’s after-hours session, trading at $130.80 at the time of publication, per Benzinga Pro.

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Photo: Piotr Swat/Shutterstock.