Cloudflare, Inc.

NET Q1 CY2025 (ended Mar 31, 2025). 10-Q filing. Revenue = $479,087K ($479.1M). Notably, the filing for the first time includes language about AI in the Overview section: 'the distributed and programmable nature of our network increasingly is resulting in our customers building their applications on top of our network, too including both traditional applications and those that are enhanced with artificial intelligence (AI).' This is the first time Cloudflare acknowledges AI workloads in an SEC filing. Single operating segment; no AI-specific revenue breakout. Workers AI, AI Gateway, Vectorize, and Cloudflare for AI are all mature products. Enterprise customers are deploying edge AI inference and RAG applications using Cloudflare's stack. Conservative estimate: ~$14.4M. Math: $14.4M / $479.1M = 3.00%.