Cloudflare Inc (NET.US): 3Q26 Results – Nothing But NET

Cloudflare delivered a standout Q3, with revenue up +39% YoY, cRPO +37%, NRR improving to 122%, and 110% growth in paying customers. Record large-customer adds, Workers adoption, and faster consumption drove broad-based momentum, while Q4 rev guide was 6% above consensus. Cloudflare delivered its strongest quarter as a public company, with revenue accelerating to +39% YoY from +36% in 2Q and coming in 6%+ above consensus, while cRPO accelerated to +37% YoY and NRR improved another 2pts QoQ to 122%. The strength was broad-based and supported by both improving go-to-market execution and increasing consumption: sales productivity reached a record high and improved YoY for the 11th consecutive quarter, ACV growth reached an all-time high, quota attainment was the highest in over 5 years, and new-customer bookings accelerated beyond last quarter's five-year high. Cloudflare added over 158K paying customers, with total paying customer count up 110% YoY, while adding a record 308 large custom