Cloudflare Achieves #6 on Fortune Future 50 List 2023 for Long-Term Growth and Business Potential

Fortune identifies Cloudflare among the top 50 global public companies best positioned for long-term revenue growth

San Francisco, CA, December 5, 2023 – Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced that it has been named a Fortune Future 50 company for 2023, ranked number six of the top fifty companies. Fortune and BCG Henderson Institute examined more than 1,700 publicly traded companies globally, ranking the top 50 based on an assessment of their long-term growth prospects taking into account indicators and signals of their future potential. Cloudflare’s inclusion on the Fortune Future 50 comes on the heels of notable financial, customer, and technology momentum. During the first three quarters of 2023, Cloudflare has increased its large customer base by 34% year-over-year and helped discover the online threat that led to the largest cyber attack in Internet history.

"At Cloudflare, we believe we have a privilege and responsibility to help drive a more secure, reliable, and connected Internet. With organizations of all sizes and sectors turning to Cloudflare to protect and connect anything online, we are helping make their employees, applications, and networks faster and more secure everywhere while reducing complexity and cost," said Matthew Prince, Co-founder and CEO of Cloudflare. "Our recognition on the Fortune Future 50 is one more example of how the industry has taken note of our proven rate of innovation, and commitment to delivering mission-critical solutions for our customers and the Internet at-large.”

The Fortune Future 50 index complements traditional performance metrics with an assessment of the long-term growth prospects of the world’s largest publicly traded companies. The ranked companies were determined with 30% of a winning company’s score based on market potential, defined as its expected future growth as determined by financial markets pricing of its shares, and the other 70% based on a company’s capacity to deliver against this potential. This latter portion of the score comprises 19 factors, selected for the ability to predict growth over the following five years, which falls into four categories: Strategy; Technology and Investments; People; and Structure.

Today about 20% of the web runs through Cloudflare’s network, in addition to Internet properties like mobile apps and APIs, to corporate networks and AI infrastructure. Cloudflare has millions of customers, of which more than 182,000 are paying customers including approximately 30% of the Fortune 1000 companies, SMBs, nonprofits, government organizations, and the leading AI companies.

Alongside the Fortune Future 50 accolade, Cloudflare has received industry and editorial recognition for its business, culture, leadership, and innovation, including:

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About Cloudflare Cloudflare, Inc. (NYSE: NET) is the leading connectivity cloud company. It empowers organizations to make their employees, applications and networks faster and more secure everywhere, while reducing complexity and cost. Cloudflare’s connectivity cloud delivers the most full-featured, unified platform of cloud-native products and developer tools, so any organization can gain the control they need to work, develop, and accelerate their business.

Powered by one of the world’s largest and most interconnected networks, Cloudflare blocks billions of threats online for its customers every day. It is trusted by millions of organizations – from the largest brands to entrepreneurs and small businesses to nonprofits, humanitarian groups, and governments across the globe.
Learn more about Cloudflare’s connectivity cloud at cloudflare.com/connectivity-cloud. Learn more about the latest Internet trends and insights at https://radar.cloudflare.com.

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Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “explore,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern Cloudflare’s expectations, strategy, plans, or intentions. However, not all forward-looking statements contain these identifying words. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding Cloudflare’s prospects for future growth, the market opportunity for Cloudflare’s products and technology, Cloudflare’s technological development, future operations, growth, initiatives, or strategies, and comments made by Cloudflare’s co-founder and CEO and others. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Cloudflare’s filings with the Securities and Exchange Commission (SEC), including Cloudflare’s Quarterly Report on Form 10-Q filed on November 2, 2023, as well as other filings that Cloudflare may make from time to time with the SEC.

The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Cloudflare undertakes no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. Cloudflare may not actually achieve the plans, intentions, or expectations disclosed in Cloudflare’s forward-looking statements, and you should not place undue reliance on Cloudflare’s forward-looking statements.

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