{"id":306944,"date":"2025-01-15T11:10:13","date_gmt":"2025-01-15T19:10:13","guid":{"rendered":"https:\/\/www.saastr.com\/?p=306944"},"modified":"2025-01-15T09:19:48","modified_gmt":"2025-01-15T17:19:48","slug":"5-interesting-learnings-from-cloudflare-at-1-7-billion-in-arr","status":"publish","type":"post","link":"https:\/\/www.saastr.com\/5-interesting-learnings-from-cloudflare-at-1-7-billion-in-arr\/","title":{"rendered":"5 Interesting Learnings from Cloudflare at $1.7 Billion in ARR"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306945 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud.webp?resize=980%2C533&#038;quality=65&#038;ssl=1\" alt=\"\" width=\"980\" height=\"533\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud.webp 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud-480x261.webp 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 980px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 980px; --smush-placeholder-aspect-ratio: 980\/533;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306945\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud.webp?resize=980%2C533&#038;quality=65&#038;ssl=1\" alt=\"\" width=\"980\" height=\"533\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud.webp 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud-480x261.webp 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 980px, 100vw\" \/><\/noscript><\/p>\n<p>So Cloud and SaaS have had a bit of a rollercoaster the past 4 years, from the boom times of 2020-2021, to the tougher times overall of 2023, to the AI boom of 2024+.\u00a0 But one thing has done well through all of it: security.\u00a0 We always need it, and the threats keep coming.<\/p>\n<p><a href=\"https:\/\/www.cloudflare.net\/files\/doc_downloads\/Presentations\/2024\/11\/Q3-2024-Investor-Presentation_v3.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter wp-image-306952 size-full lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.37%E2%80%AFAM-e1736961105241.png?resize=445%2C452&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"445\" height=\"452\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.37%E2%80%AFAM-e1736961105241.png?w=445&amp;quality=70&amp;ssl=1 445w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.37%E2%80%AFAM-e1736961105241.png?resize=60%2C60&amp;quality=70&amp;ssl=1 60w\" data-sizes=\"(max-width: 445px) 100vw, 445px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 445px; --smush-placeholder-aspect-ratio: 445\/452;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter wp-image-306952 size-full\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.37%E2%80%AFAM-e1736961105241.png?resize=445%2C452&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"445\" height=\"452\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.37%E2%80%AFAM-e1736961105241.png?w=445&amp;quality=70&amp;ssl=1 445w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.37%E2%80%AFAM-e1736961105241.png?resize=60%2C60&amp;quality=70&amp;ssl=1 60w\" sizes=\"(max-width: 445px) 100vw, 445px\" \/><\/noscript><\/a><\/p>\n<h3>And Cloudflare has been one of the biggest beneficiaries.\u00a0 It just keeps on going:<\/h3>\n<ul>\n<li>$1.7B+ ARR<\/li>\n<li>28% growth (!)<\/li>\n<li>15% non-GAAP operating profit, and 11% free-cash flow margins &#8230; and ..<\/li>\n<li>a $39 Billion market cap (!!), up 45% in past 12 months (!!!)<\/li>\n<\/ul>\n<p>Cloudflare is what 20x ARR looks like at scale, post-IPO.\u00a0 Top-tier growth, cash-flow positive, and very durable revenue.\u00a0 The last point is key.\u00a0 Wall Street wants revenue that is durable.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-306947 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1080%2C1058&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"1058\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1102%2C1080&amp;quality=70&amp;ssl=1 1102w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=600%2C588&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=768%2C753&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1536%2C1505&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1080%2C1058&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1280%2C1254&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=980%2C960&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=480%2C470&amp;quality=70&amp;ssl=1 480w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=60%2C60&amp;quality=70&amp;ssl=1 60w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w\" data-sizes=\"(max-width: 1080px) 100vw, 1080px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/1058;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-306947\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1080%2C1058&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"1058\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1102%2C1080&amp;quality=70&amp;ssl=1 1102w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=600%2C588&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=768%2C753&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1536%2C1505&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1080%2C1058&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=1280%2C1254&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=980%2C960&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=480%2C470&amp;quality=70&amp;ssl=1 480w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?resize=60%2C60&amp;quality=70&amp;ssl=1 60w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.05.19%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/noscript><\/p>\n<h3>5 Interesting Learnings:<\/h3>\n<h3><strong>#1.\u00a0 221,000 Total Paying Customers, But 65% of Revenue From 3,200 Large Customers<\/strong><\/h3>\n<p>This is what you should see when a &#8220;long tail&#8221; engine is just working at scale.\u00a0 100k+ paying customers, maybe even 1m+ free, but in the end, at scale your largest customers are likely making up 50%+ of your revenue.\u00a0 Just don&#8217;t neglect the small ones.\u00a0 They grow up into big ones!<\/p>\n<p><a href=\"https:\/\/www.cloudflare.net\/files\/doc_downloads\/Presentations\/2024\/11\/Q3-2024-Investor-Presentation_v3.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306956 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1000%2C458&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"458\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=600%2C275&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=768%2C352&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1536%2C704&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1080%2C495&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1280%2C587&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=980%2C449&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=480%2C220&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/458;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306956\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1000%2C458&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"458\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=600%2C275&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=768%2C352&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1536%2C704&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1080%2C495&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=1280%2C587&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=980%2C449&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.14.12%E2%80%AFAM.png?resize=480%2C220&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h3><strong>#2.\u00a0 $400,000 in Revenue Per Employee<\/strong><\/h3>\n<p>Cloudflare grew from $300k in revenue per employee at $1B ARR to $400k at $1.5B ARR or so and that seems to be its target to balance growth and efficiency.<\/p>\n<p><a href=\"https:\/\/www.cloudflare.net\/files\/doc_downloads\/Presentations\/2024\/11\/Q3-2024-Investor-Presentation_v3.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306950 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?resize=618%2C348&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"618\" height=\"348\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?w=618&amp;quality=70&amp;ssl=1 618w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?resize=600%2C338&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?resize=480%2C270&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 618px) 100vw, 618px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 618px; --smush-placeholder-aspect-ratio: 618\/348;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306950\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?resize=618%2C348&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"618\" height=\"348\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?w=618&amp;quality=70&amp;ssl=1 618w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?resize=600%2C338&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.09.21%E2%80%AFAM.png?resize=480%2C270&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 618px) 100vw, 618px\" \/><\/noscript><\/a><\/p>\n<h3><strong>#3.\u00a0 50% of Revenue Outside the U.S.<\/strong><\/h3>\n<p>Our reminder to Go Global as early as you can.<\/p>\n<p><a href=\"https:\/\/www.cloudflare.net\/files\/doc_downloads\/Presentations\/2024\/11\/Q3-2024-Investor-Presentation_v3.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter wp-image-306951 size-full lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.18%E2%80%AFAM-e1736961148305.png?resize=458%2C492&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"458\" height=\"492\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 458px; --smush-placeholder-aspect-ratio: 458\/492;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter wp-image-306951 size-full\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.10.18%E2%80%AFAM-e1736961148305.png?resize=458%2C492&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"458\" height=\"492\" \/><\/noscript><\/a><\/p>\n<h3><strong>#4.\u00a0 Self-Serve for Customers Of All Sizes &#8212; Not Just Small Ones<\/strong><\/h3>\n<p>Cloudflare is committed to building a self-serve product that enterprises can try and buy on their own if they choose.\u00a0 It can be done! \ud83d\ude42<\/p>\n<p><a href=\"https:\/\/www.cloudflare.net\/files\/doc_downloads\/Presentations\/2024\/11\/Q3-2024-Investor-Presentation_v3.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306955 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1000%2C559&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"559\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=600%2C336&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=768%2C430&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1536%2C859&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1080%2C604&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1280%2C716&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=980%2C548&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=480%2C269&amp;quality=70&amp;ssl=1 480w\" data-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/559;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-306955\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1000%2C559&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"559\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=600%2C336&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=768%2C430&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1536%2C859&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1080%2C604&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=1280%2C716&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=980%2C548&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.12.43%E2%80%AFAM.png?resize=480%2C269&amp;quality=70&amp;ssl=1 480w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/noscript><\/a><\/p>\n<h3><strong>#5.\u00a0 NRR Has Come Down a Bit, But Still Strong at 110%.<\/strong><\/h3>\n<p>Clouldflare&#8217;s growth remains top tier, but it has come down a bit, and a dip in NRR is one of the reasons.\u00a0 110% is still world-class.\u00a0 But it&#8217;s down from 115% a year ago.\u00a0 That makes growth 20%-30% harder than before.<\/p>\n<p><a href=\"https:\/\/www.cloudflare.net\/files\/doc_downloads\/Presentations\/2024\/11\/Q3-2024-Investor-Presentation_v3.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-306958 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1080%2C611&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"611\" data-srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1908%2C1080&amp;quality=70&amp;ssl=1 1908w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=600%2C340&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=768%2C435&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1536%2C869&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1080%2C611&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1280%2C725&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=980%2C555&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=480%2C272&amp;quality=70&amp;ssl=1 480w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w\" data-sizes=\"(max-width: 1080px) 100vw, 1080px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/611;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-306958\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1080%2C611&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"611\" srcset=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1908%2C1080&amp;quality=70&amp;ssl=1 1908w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=600%2C340&amp;quality=70&amp;ssl=1 600w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=768%2C435&amp;quality=70&amp;ssl=1 768w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1536%2C869&amp;quality=70&amp;ssl=1 1536w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1080%2C611&amp;quality=70&amp;ssl=1 1080w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=1280%2C725&amp;quality=70&amp;ssl=1 1280w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=980%2C555&amp;quality=70&amp;ssl=1 980w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?resize=480%2C272&amp;quality=70&amp;ssl=1 480w, https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-15-at-9.17.11%E2%80%AFAM.png?w=1000&amp;quality=70&amp;ssl=1 1000w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/noscript><\/a><\/p>\n<h3><strong>And a great SaaStr deep dive with their first CRO on the journey to the first $1B ARR here:<\/strong><\/h3>\n<p><iframe title=\"Lessons Learned in Scaling Your Team &amp; Revenue from $1M ARR to $1B+ | Cloudflare CRO Chris Merritt\" width=\"1080\" height=\"608\" data-src=\"https:\/\/www.youtube.com\/embed\/YkmDl59sDkg?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/www.saastr.com\"  allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<p><iframe title=\"Spotify Embed: SaaStr 638: Lessons Learned in Scaling Your Team &amp; Revenue from $1M ARR to $1B+ with Cloudflare CRO Chris Merritt\" style=\"border-radius: 12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" data-src=\"https:\/\/open.spotify.com\/embed\/episode\/5clzBqf4nGJiLO2hKHr95u?si=NoQ5T5ZcSw6IPpQQuIvIMA&#038;utm_source=oembed\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-load-mode=\"1\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So Cloud and SaaS have had a bit of a rollercoaster the past 4 years, from the boom times of 2020-2021, to the tougher times overall of 2023, to the AI boom of 2024+.\u00a0 But one thing has done well through all of it: security.\u00a0 We always need it, and the threats keep coming. And&#8230; <br \/><a class=\"more-link fade\" href=\"https:\/\/www.saastr.com\/5-interesting-learnings-from-cloudflare-at-1-7-billion-in-arr\/\">Continue Reading<\/a><\/p>\n","protected":false},"author":19,"featured_media":306945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_selected_social_profile":[]},"categories":[23926,31,28],"tags":[],"class_list":["post-306944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-interesting-things","category-blog-posts","category-scale"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud.webp?fit=980%2C533&quality=65&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5oib2-1hQI","jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/01\/5intcloud.webp","_links":{"self":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/306944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/comments?post=306944"}],"version-history":[{"count":6,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/306944\/revisions"}],"predecessor-version":[{"id":306959,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/306944\/revisions\/306959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/media\/306945"}],"wp:attachment":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/media?parent=306944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/categories?post=306944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/tags?post=306944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}