Peak NRR of 127% in FY2022-Q1. Latest is 118% - that's -9pp from peak.
Cloudflare is above the Security Public median by +8pp (cell median: 110%)
Cloudflare (NET) is a security company at the public stage. As of its most recent disclosure (FY2026-Q1), Cloudflare reported a Net Revenue Retention rate of 118% - a strong result for B2B SaaS at this segment.
Cloudflare's NRR peaked at 127% in FY2022-Q1, 9pp above today's level. The most recent quarter lost 2pp QoQ.
Within its peer set (security companies at public stage in the $25k-$100k acv band), Cloudflare's NRR is above the cell median of 110%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Revenue, ARR, and team-size denominators for the productivity ratios.
Forward-booked revenue by maturity. Renewal pipeline visibility.
Support tiers: free · paid · self-service
CS team segments: Large Enterprise · Million-dollar ACVs · Five-million-dollar ACVs
CSM model: account-named
Education programs: Developer Documents
Named CS initiatives across recent disclosures (newest first).
Evolution of business operations to an AI-first model including a 20% workforce reduction to align structure.
"On May 7, 2026, the Company announced a plan (the Plan) designed to further accelerate its evolution to an agentic AI-first operating model."
Internal harness allowing teams to quickly deploy agentic workflows and AI sessions.
"The harness that we've built, which we call Cloudflare OS, allows teams across the company to quickly get up and running"
Tools for publishers to gain visibility into AI scraping and protect/monetize content.
"This customer was facing a massive increase in AI scraping... They chose Cloudflare to gain visibility"
Flexible engagement vehicle allowing customers to draw from a committed fund for any platform service.
"The pool of funds contracting and engagement vehicle has seen a tremendous amount of success."
Targeting a handful of customers to specifically go after them and build a library of case studies.
"Aly Cabral... is running what we're calling a speedboat, which is targeting a handful of customers."
Strategic contracts providing frictionless adoption across the entire platform with transparent pricing.
"Deploying this strategic pool of funds structure will provide seamless access to the entire Cloudflare platform."
Evolving from purely product-led growth to true enterprise sales with increased sales force capacity.
"Our go-to-market transformation, evolving from purely product-led growth to true enterprise sales, continues to truck along."
Doubling down on channel partners to sell SASE products, mirroring successful models of competitors.
"I'm excited about sort of the partner-first strategy, especially with our SASE products."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Lengthening sales cycles, higher churn in paying customer base, and slowdown in revenue growth.
"we periodically have experienced lengthening of the average sales cycle... higher levels of churn in our paying customer base"
Developer products and the shift from free to paid traffic are creating near-term gross margin headwinds.
"While gross margin may continue to trend down in the near term from these dynamics"
AI scraping driving up infrastructure costs and network load for media companies.
"This customer was facing a massive increase in AI scraping, which was crushing their network"
Growth limited by the capacity of the sales force rather than market demand.
"Our constraint has been, and at least for another quarter, will continue to be the capacity of our sales force."
CJ Desai, President of Product and Engineering, is leaving to become a CEO at another public company.
"One bit of disappointing news is that CJ Desai is going to be leaving Cloudflare."
AI overviews and answer engines are significantly reducing referral traffic to original content publishers.
"it's nearly 10 times harder to get traffic from Google than it was just 10 years ago... AI overview... decreases the likelihood of someone clicking"
Curated quotes about customer outcomes, retention, renewals.
"Our churn rates improved in the quarter. We are seeing stabilization in our customers' businesses and reduced pricing pressure from competition."
"These results reinforce our belief that DNR is stabilizing at these levels despite continued near-term headwinds from increased traction with pool of funds contracts."
"variable revenue coming from consumption of existing customers was a good contributor to the outperformance in the second quarter."
"The continued expansion with this customer demonstrates not only the tremendous value they realize from the Cloudflare platform, but also the truly unmatched scalability"
"I appreciate how you brought a customer-first focus to Cloudflare's already powerful innovation engine."
"As those pools are now getting consumed, you can see our dollar-based net retention is ticking back up."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Cloudflare appears on 4 of our retention leaderboards.
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| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2026-Q1 | 118% | - | earnings-call-transcript | source ↗ |
| FY2025-Q4 | 120% | - | 10-K | source ↗ |
| FY2025-Q3 | 119% | - | 10-Q-mdna | source ↗ |
| FY2025-Q2 | 114% | - | 10-Q-mdna | source ↗ |
| FY2025-Q1 | 111% | - | 10-Q-mdna | source ↗ |
| FY2024-Q4 | 111% | - | earnings-call-transcript | source ↗ |
| FY2024-Q3 | 110% | - | 10-Q-mdna | source ↗ |
| FY2024-Q2 | 112% | - | 10-Q-mdna | source ↗ |
| FY2024-Q1 | 115% | - | 10-Q-mdna | source ↗ |
| FY2022-Q1 | 127% | - | 10-Q-mdna | source ↗ |
| FY2021-Q3 | 124% | - | 10-Q-mdna | source ↗ |
| FY2021-Q2 | 124% | - | 10-Q-mdna | source ↗ |
| FY2021-Q1 | 123% | - | 10-Q-mdna | source ↗ |
| FY2020-Q3 | 116% | - | 10-Q-mdna | source ↗ |
| FY2020-Q2 | 115% | - | 10-Q-mdna | source ↗ |
| FY2020-Q1 | 117% | - | 10-Q-mdna | source ↗ |
| FY2019-Q3 | 121% | - | 10-Q-mdna | source ↗ |
| FY2019-Q2 | 122% | - | 10-Q-mdna | source ↗ |
| FY2019-Q1 | 118% | - | 10-Q-mdna | source ↗ |
| FY2025-Q2025 | 114% | - | 10-Q-mdna | source ↗ |
Generate a live retention report against Cloudflare and your full peer cell. Ungated. Downloadable as PDF.