The accelerated revenue growth to 39% YoY and raised full-year guidance signal strong momentum, particularly from AI-related demand. Monitor the Q4 2026 earnings for continued growth acceleration and margin expansion, as well as the impact of the new President of Revenue on go-to-market execution.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 6 $268.75entry
- T+1 · 3d ago +9.30%α +6.94% · $293.75
- T+3 · todayOpen
- T+5 · tomorrow Pending
- T+20 · in 25d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Cloudflare reported Q3 2026 revenue of $782.5M (+39% YoY), above the $739.7M consensus, and non-GAAP EPS of $0.38, above the $0.34 consensus. The company raised its full-year revenue guidance to $2.963B-$2.964B and non-GAAP EPS to $1.35, while also announcing the appointment of Christian Smith as President of Revenue. Revenue growth accelerated to 39% from 34% in Q1 2026, the fastest in nearly four years, and non-GAAP operating margin expanded to 17.5% from 15.3% a year ago.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $782.5M, +39% YoY, above $739.7M consensus
- Non-GAAP EPS of $0.38, above $0.34 consensus
- Full-year FY2026 revenue guidance raised to $2.963B-$2.964B
- Full-year FY2026 non-GAAP EPS guidance raised to $1.35
- Non-GAAP operating margin expanded to 17.5% from 15.3% YoY
- Current RPO year-over-year growth of 37%
- Operating cash flow of $215.4M, up from $167.1M YoY
- Free cash flow of $82.1M, or 10% of revenue
- Appointed Christian Smith as President of Revenue, effective November 2, 2026
- Cash and securities totaled $5.13B as of September 30, 2026
Financial Impact
Revenue beat consensus by $42.8M (5.8%), non-GAAP EPS beat by $0.04 (11.8%)
Risk Factors
- GAAP net loss widened to $34.1M from $1.3M a year ago, driven by higher stock-based compensation and restructuring charges
- GAAP gross margin declined to 71.2% from 74.0% YoY, and non-GAAP gross margin declined to 72.4% from 75.3%
- Free cash flow margin declined to 10% from 13% YoY due to higher capex
- Restructuring and other charges of $11.0M in Q3 and $161.7M year-to-date related to workforce reduction
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001477333-26-000060 |
| Document: cloud-20261105.htm | 0001477333-26-000060 |
| Document: q326exhibit992.htm | 0001477333-26-000060 |
| Document: 0001477333-26-000060-index-headers.html | 0001477333-26-000060 |
| Document: 0001477333-26-000060-index.html | 0001477333-26-000060 |
| Document: 0001477333-26-000060.txt | 0001477333-26-000060 |
| 8-K Data (Synthetic) | 0001477333-26-000060 |
Track record
48 reports on NET
3 of 4 bullish or bearish reports moved the stock their way by T+20. Best: +29.18% at T+60 after the Jul 7, 2026 report. 5 of 7 went positive at some point.
Filters
- Nov 6, 20265d ago ANALYST-UPGRADE Bullish 4/10 Entry $268.75 Now $305.80 +13.79% settles Dec 7
- Nov 6, 20266d ago Court Ruling Neutral 4/10 Entry $293.75 Now $305.80 +4.10% settles Dec 8
- Nov 5, 20266d ago 8-K Bullish 6/10 Viewing Entry $268.75 Now $305.80 +13.79% settles Dec 7
- Nov 3, 20269d ago Court Ruling Neutral 4/10 Entry $266.58 Now $305.80 +14.71% settles Dec 3
- Oct 26, 202616d ago Institutional Cluster Neutral 3/10 Entry $331.86 Now $305.80 −7.85% settles Nov 23
- Oct 19, 202623d ago Insider Cluster Bearish 4/10 Entry $291.69 Now $305.80 −4.84% settles Nov 17
- Oct 19, 202623d ago 144 Neutral 2/10 Entry $291.69 Now $305.80 +4.84% settles Nov 17
- Oct 16, 202627d ago Court Ruling Bearish 7/10 Entry $297.58 Now $305.80 −2.76% settles Nov 16
- Sep 23, 20267w ago Insider Cluster Neutral 2/10 Entry $358.82 to $303.61 Now $305.80 −14.78% ▼ −15.39% −14.97% vs SPY
- Sep 21, 20267w ago Insider Cluster Neutral 2/10 Entry $353.00 to $291.69 Now $305.80 −13.37% ▼ −17.37% −16.81% vs SPY
US Market Status
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