Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Cloudflare Inc. reported a solid first quarter for 2026, with total revenue reaching $639.8 million, reflecting a 34% increase year-over-year.</li><li>The company continues to expand its customer base, particularly among large accounts, adding approximately 4,416 customers paying over $100,000 annually—up 25% from the previous year.</li><li>Revenue from these customers accounted for 72% of the total, up from 69% the prior year, while dollar-based net retention stood at 118%, representing a 7% increase year-over-year but a slight decline of 2% sequentially.</li></ul>

Cloudflare Inc. reported a solid first quarter for 2026, with total revenue reaching $639.8 million, reflecting a 34% increase year-over-year.The company continues to expand its customer base, particularly among large accounts, adding approximately 4,416 customers paying over $100,000 annually—up 25% from the previous year.Revenue from these customers accounted for 72% of the total, up from 69% the prior year, while dollar-based net retention stood at 118%, representing a 7% increase year-over-year but a slight decline of 2% sequentially.

Cloudflare’s Margin Puzzle: Developer Growth, Paid Traffic & AI Demand Drive Debate!

<ul><li>In the fourth quarter of 2025, Cloudflare, Inc. reported strong financial performance with revenue of $614.5 million, representing a 34% year-over-year increase.</li><li>Large customers, contributing 73% of total revenue, grew their spending by 42% year-over-year.</li><li>The company saw an increase in large customers, those bringing in more than $100,000 annually, to 4,298, marking a 23% year-over-year growth.</li></ul>

In the fourth quarter of 2025, Cloudflare, Inc. reported strong financial performance with revenue of $614.5 million, representing a 34% year-over-year increase.Large customers, contributing 73% of total revenue, grew their spending by 42% year-over-year.The company saw an increase in large customers, those bringing in more than $100,000 annually, to 4,298, marking a 23% year-over-year growth.

Cloudflare Workers Is Gaining Momentum—What Fortune 500 Adoption Signals About the Platform’s Future!

<ul><li>In a dramatic turn of events, Cloudflare faced a significant but short-lived service outage this week due to an unprecedented surge in traffic.</li><li>This unexpected spike overwhelmed parts of its global network, temporarily disrupting key customer workloads.</li><li>Yet, what stands out is Cloudflare’s rapid containment and resolution of the incident.</li></ul>

In a dramatic turn of events, Cloudflare faced a significant but short-lived service outage this week due to an unprecedented surge in traffic.This unexpected spike overwhelmed parts of its global network, temporarily disrupting key customer workloads.Yet, what stands out is Cloudflare’s rapid containment and resolution of the incident.

Cloudflare’s Traffic Overload Sparks Outage & $3B Stock Selloff!

<ul><li>Cloudflare's Q3 2025 results show a strong financial and operational performance, marked by a year-over-year revenue increase of 30.7% to $562 million.</li><li>The company attributes this growth to effective innovation and execution, particularly in transitioning from a product-led growth model to a full-fledged enterprise sales strategy.</li><li>Large customers, defined as those contributing more than $100,000 annually, increased by 23%, making up 73% of the total revenue.</li></ul>

Cloudflare's Q3 2025 results show a strong financial and operational performance, marked by a year-over-year revenue increase of 30.7% to $562 million.The company attributes this growth to effective innovation and execution, particularly in transitioning from a product-led growth model to a full-fledged enterprise sales strategy.Large customers, defined as those contributing more than $100,000 annually, increased by 23%, making up 73% of the total revenue.

Cloudflare Q3 Earnings: How Its AI Edge Network & SASE Focus Could Be the Game Changer Wall Street Missed!

<ul><li>Cloudflare, a company recognized for its web infrastructure and security solutions, presented its Q2 2025 financial results, showcasing strategic strides in technological and organizational growth while simultaneously underscoring certain challenges and prospects.</li><li>Financial and Operational Overview: Cloudflare reported a revenue of $512.3 million for the quarter, achieving a year-over-year growth of 28%, a notable increase from the 26.5% growth observed in the previous quarter.</li><li>This surge pushed the annual run rate revenue to over $2 billion.</li></ul>

Cloudflare, a company recognized for its web infrastructure and security solutions, presented its Q2 2025 financial results, showcasing strategic strides in technological and organizational growth while simultaneously underscoring certain challenges and prospects.Financial and Operational Overview: Cloudflare reported a revenue of $512.3 million for the quarter, achieving a year-over-year growth of 28%, a notable increase from the 26.5% growth observed in the previous quarter.This surge pushed the annual run rate revenue to over $2 billion.

Cloudflare: Disrupting The SASE Market With Speed, Simplicity, & Cost Efficiency!

United States

Cloudflare, Inc. designs and develops software solutions. The Company offers platform for load balancing, video streaming, security, analysis, and domain registration. Cloudflare serves customers worldwide.

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Cloudflare (NET US)

Cloudflare’s Margin Puzzle: Developer Growth, Paid Traffic & AI Demand Drive Debate!

Cloudflare Inc. reported a solid first quarter for 2026, with total revenue reaching $639.8 million, reflecting a 34% increase year-over-year. The...

Baptista Research

Cloudflare Workers Is Gaining Momentum—What Fortune 500 Adoption Signals About the Platform’s Future!

In the fourth quarter of 2025, Cloudflare, Inc. reported strong financial performance with revenue of $614.5 million, representing a 34%...

Baptista Research

Cloudflare’s Traffic Overload Sparks Outage & $3B Stock Selloff!

In a dramatic turn of events, Cloudflare faced a significant but short-lived service outage this week due to an unprecedented surge in...

Baptista Research

Cloudflare Q3 Earnings: How Its AI Edge Network & SASE Focus Could Be the Game Changer Wall Street Missed!

Cloudflare's Q3 2025 results show a strong financial and operational performance, marked by a year-over-year revenue increase of 30.7% to $562...

Baptista Research

Cloudflare: Disrupting The SASE Market With Speed, Simplicity, & Cost Efficiency!

Cloudflare, a company recognized for its web infrastructure and security solutions, presented its Q2 2025 financial results, showcasing strategic...

Baptista Research

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