Cloudflare, Inc.

NET

Current Price: $57.76

IPO: 2019-09-13

CloudFlare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices. Its security products comprise cloud firewall, bot management, distributed denial of service, IoT, SSL/TLS, secure origin connection, and rate limiting products. The company also offers performance solutions, which include content delivery and intelligent routing, as well as content, mobile, and image optimization solutions. In addition, it provides reliability solutions comprising load balancing, anycast network, virtual backbone, DNS, DNS resolver, online, and virtual waiting room solutions. Further, the company offers Cloudflare internal infrastructure solutions, including on-ramps, which connect users, devices, or locations to its network; and filters, which are the products that protect, inspect, and privilege data. Additionally, it provides developer-based solutions, such as serverless computing/programmable network, website development, domain registration, Cloudflare apps, analytics, and data localization management; Consumer DNS Resolver, a consumer app to browse the Internet; and Consumer VPN for consumers to secure and accelerate traffic on mobile devices. The company serves customers in the technology, healthcare, financial services, consumer and retail, and non-profit industries, as well as government. CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.

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Income Statement

Revenue

Year Q1 Q2 Q3 Q4
2019 - - - $83.93m
2020 $91.25m $99.72m $114.2m $125.9m
2021 $138.1m $152.4m $172.3m $193.6m
2022 $212.2m $234.5m $253.9m $274.7m
2023 $290.2m $308.5m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 50.04%
2021 51.29% 52.85% 50.97% 53.74%
2022 53.68% 53.85% 47.29% 41.89%
2023 36.77% 31.54% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 91.25m 99.72m 114.2m 42m
2021 46.81m 52.71m 58.19m 67.67m
2022 74.11m 82.09m 81.51m 81.1m
2023 78.01m 73.98m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 8.72% 9.28% 14.48% 10.3%
2021 9.63% 10.41% 13.07% 12.33%
2022 9.59% 10.53% 8.25% 8.21%
2023 5.63% 6.31% - -

Cost Of Revenue

Year Q1 Q2 Q3 Q4
2019 - - - $18.2m
2020 $20.82m $24.16m $27.01m $29.07m
2021 $32.08m $35.03m $37.53m $42.5m
2022 $47.05m $55.8m $61.97m $67.79m
2023 $70.43m $75.22m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 59.72%
2021 54.09% 44.96% 38.96% 46.21%
2022 46.65% 59.31% 65.14% 59.52%
2023 49.69% 34.79% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 20.82m 24.16m 27.01m 10.87m
2021 11.26m 10.87m 10.52m 13.43m
2022 14.97m 20.78m 24.44m 25.29m
2023 23.38m 19.42m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 14.41% 16.06% 11.76% 7.63%
2021 10.39% 9.18% 7.13% 13.25%
2022 10.72% 18.6% 11.04% 9.39%
2023 3.9% 6.8% - -

Gross Profit

Year Q1 Q2 Q3 Q4
2019 - - - $65.73m
2020 $70.43m $75.56m $87.16m $96.86m
2021 $106m $117.4m $134.8m $151.1m
2022 $165.1m $178.7m $191.9m $206.9m
2023 $219.7m $233.3m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 47.36%
2021 50.47% 55.38% 54.69% 56.0%
2022 55.81% 52.23% 42.33% 36.94%
2023 33.08% 30.53% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 70.43m 75.56m 87.16m 31.13m
2021 35.54m 41.84m 47.67m 54.24m
2022 59.15m 61.31m 57.07m 55.81m
2023 54.63m 54.56m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 7.15% 7.28% 15.35% 11.13%
2021 9.41% 10.78% 14.84% 12.07%
2022 9.28% 8.23% 7.37% 7.83%
2023 6.2% 6.16% - -

Gross Profit Ratio

Year Q1 Q2 Q3 Q4
2019 - - - 78.32%
2020 77.18% 75.77% 76.35% 76.92%
2021 76.76% 77.02% 78.23% 78.05%
2022 77.82% 76.20% 75.59% 75.32%
2023 75.73% 75.62% - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - -1.79%
2021 -0.55% 1.65% 2.47% 1.47%
2022 1.39% -1.06% -3.37% -3.49%
2023 -2.69% -0.77% - -

Research & Development Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $26.29m
2020 $33.35m $28.13m $30.9m $34.76m
2021 $39.53m $41.35m $46.77m $61.76m
2022 $67.05m $75.11m $76.43m $79.7m
2023 $81.54m $89.61m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 32.21%
2021 18.51% 46.99% 51.35% 77.7%
2022 69.64% 81.66% 63.42% 29.05%
2023 21.6% 19.3% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 33.35m 28.13m 30.9m 8.468m
2021 6.173m 13.22m 15.87m 27.01m
2022 27.53m 33.77m 29.66m 17.94m
2023 14.49m 14.5m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 26.87% -15.66% 9.85% 12.47%
2021 13.72% 4.61% 13.11% 32.05%
2022 8.57% 12.02% 1.75% 4.28%
2023 2.3% 9.9% - -

General & Administrative Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $22.28m
2020 $26.18m $20.75m $21.53m $23.29m
2021 $27.72m $28.93m $28.67m $34.18m
2022 $38.03m $50.52m $45.37m $45.85m
2023 $48.48m $53.15m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 4.56%
2021 5.89% 39.38% 33.19% 46.75%
2022 37.17% 74.64% 58.26% 34.13%
2023 27.47% 5.2% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 26.18m 20.75m 21.53m 1.015m
2021 1.543m 8.173m 7.144m 10.89m
2022 10.31m 21.59m 16.7m 11.67m
2023 10.45m 2.629m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 17.52% -20.73% 3.71% 8.21%
2021 19.02% 4.34% -0.89% 19.23%
2022 11.25% 32.84% -10.19% 1.05%
2023 5.73% 9.64% - -

Selling & Marketing Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $47.11m
2020 $46.97m $51.38m $55.98m $63.55m
2021 $69.97m $76m $85.88m $96.22m
2022 $100.1m $117.6m $116m $132.1m
2023 $137m $146.7m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 34.91%
2021 48.99% 47.92% 53.4% 51.4%
2022 42.99% 54.78% 35.12% 37.24%
2023 36.92% 24.71% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 46.97m 51.38m 55.98m 16.45m
2021 23.01m 24.62m 29.9m 32.67m
2022 30.08m 41.63m 30.16m 35.83m
2023 36.94m 29.07m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -0.3% 9.39% 8.97% 13.52%
2021 10.11% 8.6% 13.0% 12.04%
2022 3.99% 17.55% -1.35% 13.8%
2023 3.75% 7.07% - -

Selling General & Administrative Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $69.39m
2020 $73.15m $72.13m $77.51m $86.85m
2021 $97.7m $104.9m $114.5m $130.4m
2022 $138.1m $168.1m $161.4m $177.9m
2023 $185.5m $199.8m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 25.16%
2021 33.57% 45.46% 47.79% 50.15%
2022 41.34% 60.25% 40.91% 36.42%
2023 34.32% 18.85% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 73.15m 72.13m 77.51m 17.46m
2021 24.55m 32.79m 37.04m 43.56m
2022 40.39m 63.22m 46.86m 47.5m
2023 47.39m 31.7m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 5.42% -1.39% 7.45% 12.05%
2021 12.5% 7.39% 9.17% 13.84%
2022 5.89% 21.76% -4.01% 10.22%
2023 4.26% 7.74% - -

Other Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $-412k
2020 $485k $-219k $-208k $113k
2021 $148k $-877k $361k $-426k
2022 $-487k $233k $2.433m $-1.602m
2023 $-857k $-1.527m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - -Infinity% -Infinity% -127.43%
2021 -69.48% 300.46% -273.56% -476.99%
2022 -429.05% -126.57% 573.96% 276.06%
2023 75.98% -755.36% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 485k -219k -208k 525k
2021 -337k -658k 569k -539k
2022 -635k 1.11m 2.072m -1.176m
2023 -370k -1.76m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 -217.72% -145.15% -5.02% -154.33%
2021 30.97% -692.57% -141.16% -218.01%
2022 14.32% -147.84% 944.21% -165.84%
2023 -46.5% 78.18% - -

Operating Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $95.67m
2020 $106.5m $100.3m $108.4m $121.6m
2021 $137.2m $146.3m $161.3m $192.2m
2022 $205.1m $243.3m $237.8m $257.6m
2023 $267m $289.4m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 27.1%
2021 28.85% 45.89% 48.8% 58.03%
2022 49.49% 66.3% 47.44% 34.05%
2023 30.16% 18.99% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 106.5m 100.3m 108.4m 25.93m
2021 30.73m 46.01m 52.91m 70.56m
2022 67.92m 96.98m 76.52m 65.44m
2023 61.88m 46.19m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 11.32% -5.86% 8.13% 12.17%
2021 12.85% 6.59% 10.29% 19.12%
2022 6.75% 18.58% -2.23% 8.31%
2023 3.65% 8.4% - -

Cost & Expenses

Year Q1 Q2 Q3 Q4
2019 - - - $113.9m
2020 $127.3m $124.4m $135.4m $150.7m
2021 $169.3m $181.3m $198.8m $234.7m
2022 $252.2m $299.1m $299.8m $325.4m
2023 $337.4m $364.7m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 32.31%
2021 32.98% 45.71% 46.84% 55.75%
2022 48.95% 64.95% 50.78% 38.66%
2023 33.81% 21.94% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 127.3m 124.4m 135.4m 36.8m
2021 41.99m 56.88m 63.43m 83.99m
2022 82.88m 117.8m 101m 90.73m
2023 85.26m 65.61m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 11.81% -2.27% 8.83% 11.26%
2021 12.37% 7.08% 9.68% 18.01%
2022 7.47% 18.58% 0.25% 8.53%
2023 3.71% 8.07% - -

Interest Expense

Year Q1 Q2 Q3 Q4
2019 - - - $142k
2020 $67k $5.007m $9.828m $10.06m
2021 $10.23m $10.44m $12.45m $16.11m
2022 $1.557m $1.04m $1.512m $875k
2023 $-2.126m $1.539m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 6985.92%
2021 15174.63% 108.59% 26.66% 60.09%
2022 -84.79% -90.04% -87.85% -94.57%
2023 -236.54% 47.98% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 67k 5.007m 9.828m 9.92m
2021 10.17m 5.437m 2.62m 6.046m
2022 -8.677m -9.404m -10.94m -15.23m
2023 -3.683m 499k - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -52.82% 7373.13% 96.29% 2.38%
2021 1.71% 2.05% 19.19% 29.4%
2022 -90.33% -33.2% 45.38% -42.13%
2023 -342.97% -172.39% - -

Depreciation & Amortization

Year Q1 Q2 Q3 Q4
2019 - - - $8.556m
2020 $10.56m $11.55m $12.92m $14.36m
2021 $15.22m $16.03m $17.03m $18.33m
2022 $20.59m $27.21m $33.64m $36.35m
2023 $-8.378m $33.67m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 67.81%
2021 44.07% 38.76% 31.85% 27.68%
2022 35.29% 69.79% 97.5% 98.31%
2023 -140.69% 23.74% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 10.56m 11.55m 12.92m 5.802m
2021 4.655m 4.477m 4.114m 3.974m
2022 5.37m 11.19m 16.61m 18.02m
2023 -28.97m 6.461m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 23.46% 9.34% 11.83% 11.16%
2021 5.99% 5.32% 6.26% 7.65%
2022 12.31% 32.17% 23.6% 8.08%
2023 -123.05% -501.92% - -

Ebitda

Year Q1 Q2 Q3 Q4
2019 - - - $-18.83m
2020 $-22.45m $-11.52m $-7.228m $-9.424m
2021 $-15.34m $-13.35m $-80.95m $-22.49m
2022 $-19.44m $-37.33m $-12.31m $-14.34m
2023 $-47.27m $-7.49m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% -49.96%
2021 -31.66% 15.92% 1019.98% 138.65%
2022 26.67% 179.64% -84.79% -36.25%
2023 143.22% -79.94% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -22.45m -11.52m -7.228m 9.409m
2021 7.11m -1.833m -73.72m -13.07m
2022 -4.092m -23.98m 68.64m 8.153m
2023 -27.84m 29.84m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 19.23% -48.71% -37.24% 30.38%
2021 62.82% -13.0% 506.43% -72.22%
2022 -13.58% 92.06% -67.02% 16.45%
2023 229.72% -84.16% - -

Operating Income

Year Q1 Q2 Q3 Q4
2019 - - - $-29.94m
2020 $-36.07m $-24.7m $-21.25m $-24.74m
2021 $-31.25m $-28.87m $-26.49m $-40.82m
2022 $-40.02m $-64.54m $-45.95m $-50.69m
2023 $-38.89m $-56.17m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% -17.37%
2021 -13.35% 16.87% 24.67% 65.0%
2022 28.06% 123.54% 73.42% 24.18%
2023 -2.82% -12.97% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -36.07m -24.7m -21.25m 5.201m
2021 4.817m -4.168m -5.242m -16.08m
2022 -8.77m -35.67m -19.45m -9.869m
2023 1.13m 8.369m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 20.47% -31.51% -13.97% 16.42%
2021 26.32% -7.62% -8.24% 54.08%
2022 -1.95% 61.26% -28.81% 10.32%
2023 -23.27% 44.42% - -

Operating Income Ratio

Year Q1 Q2 Q3 Q4
2019 - - - $-0.3567
2020 $-0.3953 $-0.2477 $-0.1862 $-0.1965
2021 $-0.2264 $-0.1894 $-0.1537 $-0.2109
2022 $-0.1886 $-0.2752 $-0.181 $-0.1845
2023 $-0.134 $-0.1821 - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% -44.93%
2021 -42.73% -23.54% -17.42% 7.32%
2022 -16.67% 45.29% 17.74% -12.49%
2023 -28.95% -33.84% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -0.3953 -0.2477 -0.1862 0.1603
2021 0.1689 0.05832 0.03243 -0.01439
2022 0.03774 -0.08579 -0.02727 0.02633
2023 0.05461 0.09312 - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 10.81% -37.33% -24.86% 5.54%
2021 15.23% -16.33% -18.84% 37.17%
2022 -10.54% 45.89% -34.23% 1.95%
2023 -27.36% 35.85% - -

Total Other Income Expenses Net

Year Q1 Q2 Q3 Q4
2019 - - - $2.411m
2020 $2.987m $-3.369m $-8.72m $-9.103m
2021 $-9.542m $-10.95m $-83.94m $-16.11m
2022 $-983k $834k $4.773m $5.846m
2023 $2.126m $-51.83m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - -Infinity% -Infinity% -477.56%
2021 -419.45% 224.96% 862.57% 76.95%
2022 -89.7% -107.62% -105.69% -136.29%
2023 -316.28% -6314.27% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 2.987m -3.369m -8.72m -11.51m
2021 -12.53m -7.579m -75.22m -7.005m
2022 8.559m 11.78m 88.71m 21.95m
2023 3.109m -52.66m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 23.89% -212.79% 158.83% 4.39%
2021 4.82% 14.73% 666.68% -80.81%
2022 -93.9% -184.84% 472.3% 22.48%
2023 -63.63% -2537.77% - -

Income Before Tax

Year Q1 Q2 Q3 Q4
2019 - - - $-27.53m
2020 $-33.08m $-28.07m $-29.97m $-33.84m
2021 $-40.8m $-39.82m $-110.4m $-56.93m
2022 $-41.01m $-63.71m $-41.17m $-44.85m
2023 $-36.77m $-93m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% 22.93%
2021 23.31% 41.84% 268.44% 68.21%
2022 0.52% 59.99% -62.71% -21.23%
2023 -10.34% 45.98% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -33.08m -28.07m -29.97m -6.313m
2021 -7.712m -11.75m -80.46m -23.09m
2022 -211k -23.89m 69.26m 12.09m
2023 4.239m -29.3m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 20.17% -15.15% 6.76% 12.92%
2021 20.54% -2.39% 177.32% -48.45%
2022 -27.97% 55.36% -35.37% 8.92%
2023 -18.01% 152.94% - -

Income Tax Expense

Year Q1 Q2 Q3 Q4
2019 - - - $624k
2020 $-338k $-1.938m $-3.504m $177k
2021 $-833k $-4.31m $-3.095m $20.57m
2022 $374k $-170k $1.372m $1.072m
2023 $1.314m $1.465m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% -71.63%
2021 146.45% 122.39% -11.67% 11522.03%
2022 -144.9% -96.06% -144.33% -94.79%
2023 251.34% -961.76% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -338k -1.938m -3.504m -447k
2021 -495k -2.372m 409k 20.39m
2022 1.207m 4.14m 4.467m -19.5m
2023 940k 1.635m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -154.17% 473.37% 80.8% -105.05%
2021 -570.62% 417.41% -28.19% -764.65%
2022 -98.18% -145.45% -907.06% -21.87%
2023 22.57% 11.49% - -

Net Income

Year Q1 Q2 Q3 Q4
2019 - - - $-28.16m
2020 $-32.75m $-26.14m $-26.47m $-34.02m
2021 $-39.96m $-35.51m $-107.3m $-77.5m
2022 $-41.38m $-63.54m $-42.55m $-45.92m
2023 $-38.08m $-94.47m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% 20.83%
2021 22.04% 35.87% 305.53% 127.8%
2022 3.55% 78.93% -60.36% -40.75%
2023 -7.97% 48.68% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -32.75m -26.14m -26.47m -5.866m
2021 -7.217m -9.375m -80.87m -43.48m
2022 -1.418m -28.03m 64.79m 31.58m
2023 3.299m -30.93m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 16.31% -20.19% 1.27% 28.54%
2021 17.47% -11.14% 202.27% -27.8%
2022 -46.61% 53.54% -33.04% 7.92%
2023 -17.06% 148.06% - -

Balance Sheet

Deferred Revenue

Year Q1 Q2 Q3 Q4
2019 - - - $30.84m
2020 $37.1m $43.42m $48.44m $54.95m
2021 $66.42m $79.83m $92.42m $116.5m
2022 $131.7m $155.8m $171.4m $218.6m
2023 $238.8m $268m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 - - - 78.14%
2021 79.04% 83.86% 90.8% 112.11%
2022 98.21% 95.18% 85.47% 87.61%
2023 81.39% 71.99% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 37.1m 43.42m 48.44m 24.1m
2021 29.32m 36.41m 43.98m 61.6m
2022 65.23m 75.98m 78.98m 102.1m
2023 107.1m 112.2m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 20.27% 17.04% 11.55% 13.44%
2021 20.88% 20.19% 15.77% 26.11%
2022 12.96% 18.35% 10.0% 27.57%
2023 9.21% 12.22% - -

Cash Flow

Operating Cash Flow

Year Q1 Q2 Q3 Q4
2019 - - - $-8.574m
2020 $-14.28m $3.987m $1.973m $-8.813m
2021 $23.49m $7.455m $-6.918m $40.62m
2022 $-35.47m $38.25m $42.69m $78.12m
2023 $36.41m $64.45m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% - - 2.79%
2021 -264.57% 86.98% -450.63% -560.88%
2022 -250.96% 413.09% -717.06% 92.34%
2023 -202.67% 68.49% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -14.28m 3.987m 1.973m -239k
2021 37.77m 3.468m -8.891m 49.43m
2022 -58.96m 30.8m 49.61m 37.51m
2023 71.88m 26.2m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 66.5% -127.93% -50.51% -546.68%
2021 -366.58% -68.27% -192.8% -687.12%
2022 -187.32% -207.85% 11.6% 83.01%
2023 -53.39% 77.0% - -

Free Cash Flow

Year Q1 Q2 Q3 Q4
2019 - - - $-23.54m
2020 $-30.6m $-20.15m $-17.85m $-23.48m
2021 $-2.219m $-9.775m $-39.73m $8.636m
2022 $-64.4m $-4.414m $-4.614m $33.66m
2023 $13.9m $19.97m - -

YoY % Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -Infinity% -Infinity% -Infinity% -0.25%
2021 -92.75% -51.5% 122.54% -136.78%
2022 2802.25% -54.84% -88.39% 289.76%
2023 -121.59% -552.42% - -

YoY Change

Year Q1 Q2 Q3 Q4
2019 - - - -
2020 -30.6m -20.15m -17.85m 60k
2021 28.38m 10.38m -21.88m 32.12m
2022 -62.18m 5.361m 35.12m 25.02m
2023 78.3m 24.38m - -

QoQ % Change

Year Q1 Q2 Q3 Q4
2019 - - - -Infinity%
2020 30.0% -34.14% -11.41% 31.51%
2021 -90.55% 340.51% 306.47% -121.74%
2022 -845.73% -93.15% 4.53% -829.52%
2023 -58.7% 43.64% - -