Highlights

  • Q3 2026 Revenue of $782.5 million, up 39% year-over-year — the fastest revenue growth in nearly four years for the company
  • Crossed $3 billion in annualised revenue; non-GAAP EPS of $0.38, beating consensus of $0.34 by nearly 11%
  • Channel partner revenue surged 65% year-over-year, expanding to 32% of quarterly revenue as indirect go-to-market scales
  • Full-year 2026 revenue guidance raised to $2.963–$2.964 billion; Q4 guided to $845–$846 million

Cloudflare (NYSE:NET), the connectivity cloud and AI-powered internet development platform, delivered its best quarterly results in company history during the third quarter of 2026, posting revenue of $782.5 million and crossing $3 billion in annualised revenue.

AI Developer Platform Drives Growth Acceleration

Cloudflare's Workers Developer Platform — which enables developers to build, deploy, and scale AI-powered applications at the network edge — emerged as a primary growth driver in Q3 2026. CFO Thomas Seifert cited rapid growth in Workers and agentic workloads, larger customer cohorts, and improved go-to-market execution as the key contributors to the revenue beat. The platform's ability to run inference, store data, and serve users globally from the network edge makes it uniquely positioned for the AI application era.

The company also highlighted its role as a key infrastructure provider for major AI labs, helping organisations manage token costs and optimise AI workload routing. This positioning as the AI-era network layer provides Cloudflare with exposure to the structural growth in AI infrastructure spending without concentration risk in any single customer or model provider.

Channel Partner Momentum and Enterprise Expansion

Channel partner revenue grew 65% year-over-year to represent 32% of Q3 total revenue — a significant structural shift in Cloudflare's go-to-market motion. The expansion of indirect channels allows Cloudflare to reach new enterprise segments and geographies more efficiently, while reducing the cost of customer acquisition. The United States accounted for 52% of Q3 revenue, with EMEA at 26% and Asia Pacific at 14%, reflecting a balanced global revenue mix.

Security and Connectivity Cloud Demand

Cloudflare's security portfolio — including Zero Trust Network Access, DDoS protection, and AI-powered threat intelligence — continued to see strong Demand as organisations face an escalating threat landscape and transition legacy network security architectures to cloud-delivered models. The company's comprehensive connectivity cloud strategy, which integrates networking, security, and developer services on a single platform, is resonating with enterprise buyers seeking to simplify their vendor landscape.

Updated Guidance for Q4 and Full Year

Following the record Q3 results, Cloudflare raised its full-year 2026 revenue guidance to $2.963–$2.964 billion, with non-GAAP Operating Income of $462–$463 million and non-GAAP EPS of $1.35. For Q4 2026, the company guided to revenue of $845–$846 million and non-GAAP EPS of $0.43, implying continued sequential growth as the AI developer platform scales further.