Cloudflare, Inc.
NETQ1 2025(NET Q4 FY2024)Estimated2.5% AI
AI Revenue %
2.5%
AI Fair Value
$944.6M
AI Revenue (Q)
$11.5M
Total Revenue (Q)
$459.9M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
NET Q4 CY2024 (ended Dec 31, 2024). 10-K filing. Full year 2024 revenue = $1,669,626K ($1,669.6M), implied Q4 revenue = $459,946K ($459.9M). The 10-K now includes CODM segment expense detail per new ASC 280 requirements but still reports a single operating segment with no AI-specific breakout. The filing does NOT mention artificial intelligence, AI products, Workers AI, AI Gateway, or Vectorize in the extracted text sections. Cloudflare's AI product portfolio continues to grow. Workers AI now supports 200+ open-source models, AI Gateway has processed tens of billions of requests, and Vectorize is production-ready. R2 increasingly serves AI workloads (model weight storage, training data). Conservative estimate: ~$11.5M. Math: $11.5M / $459.9M = 2.50%.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $1,669,626 [FY2024] / $1,296,745 [FY2023] / $975,241 [FY2022]
10-K for fiscal year ending Dec 31, 2024, Note 14 Segment and Geographic Information
The Company has determined it has a single operating segment.
10-K for fiscal year ending Dec 31, 2024, Note 14 Segment and Geographic Information
AI Products Identified (Ring 1)
Workers AIAI GatewayVectorizeR2 (AI model storage)Cloudflare for AI
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix