Cloudflare Keeps Growing Fast, But Investors Are Starting to Lose Patience on Profits

The cybersecurity and cloud giant is winning enterprise customers and expanding into AI… yet Wall Street is becoming increasingly focused on one problem: margins. March 23, 2026

Research: Illustration

Date: March 23, 2026

Estimated reading time: 6 minutes

Cloudflare just delivered another strong quarter.

Revenue growth stayed above 30%.

Enterprise adoption kept accelerating.

The company continued expanding aggressively into AI, compute, and developer infrastructure.

And its global network is becoming one of the most strategically valu…