Cloudflare Q2 FY2026 Earnings Call
With Matthew Prince (Co-Founder and CEO) and Thomas Seifert (CFO).
Cloudflare, Inc. (NYSE: NET) is the leading connectivity cloud company. It empowers organizations to make their employees, applications and networks faster and more secure everywhere, while reducing complexity and cost.
More about Cloudflare
Cloudflare’s connectivity cloud delivers the most full-featured, unified platform of cloud-native products and developer tools, so any organization can gain the control they need to work, develop, and accelerate their business. Powered by one of the world’s largest and most interconnected networks, Cloudflare blocks billions of threats online for its customers every day. It is trusted by millions of organizations – from the largest brands to entrepreneurs and small businesses to nonprofits, humanitarian groups, and governments across the globe.
1Prepared remarks3 speakers
Thank you for joining us today to discuss Cloudflare's financial results for the second quarter of 2026. With me on the call, we have Matthew Prince, Co-Founder and CEO, Michelle Zatlyn, Co-Founder and President, and Thomas Seifert, CFO. By now, everyone should have access to our earnings announcement. This announcement, as well as our supplemental financial information, may be found on our investor relations website.
As a reminder, we'll be making forward-looking statements during today's discussion, including but…
Thank you, Phil Winslow. We had an extremely strong second quarter. We achieved revenue of $696.1 million, up 36% year-over-year. We now have 4,698 customers paying us more than $100,000 per year, a 27% increase year-over-year. We added a record number of these large customers, 986 net additions year-over-year, the most we have ever added over 12 months in our history. Our dollar-based net retention was 120%, up 2% quarter-over-quarter, and up 6% year-over-year. Our gross margin was 73.1%, improving sequentially…
Thank you, Matthew Prince, and thank you to everyone for joining us. We've delivered a stellar second quarter, with strengths across all major metrics we track. Driven, in particular, by another quarter of rapid growth in our Workers developer platform and agentic workloads across our network, continued momentum with our largest customer cohorts, and a robust go-to-market execution. Turning to revenue. Total revenue for the second quarter increased 36% year-over-year to $696.1 million. From a geographic…