Cloudflare Long-Term Financials and Business Strategy

GAAP Gross Margin 79% 78% 78% 77% 76% 76% Attractive & Consistent Gross Margin Serverless architecture deployed on commodity hardware Single software stack across the network Symbiotic relationship with ISPS Leverage idle capacity across network 2017 2018 2019 Q1 2020 Q2 2020 Q3 2020 CLOUDFLARE Copyright Cloudflare, Inc. 23

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