The targeted customers’ infrastructure never slowed down and they weren’t even aware until our systems alerted them. It’s easy for them to use and help solve the thorny global compliance issues, their CIO is increasingly care about, watch this space. As Matt mentioned, we continued the momentum from our first quarter. For second quarter, dollar-based net retention was 115%, which decrease 2% sequentially and 7% year-over-year. Great. And so we don’t think of it as a greenfield opportunity, but rather traditionally that we are replacing what is usually a existing on-premise hardware-based solution as part of the digital transformation that enterprises are going through right now, whether they were planning on doing that in 2020 or not. That is fair enough.

Another consequence appears to have been and we saw the peak in customer concession requests earlier than other companies that fill in arrears on a more volatile usage basis. Those of us working with you historically in prior positions, we call your thoughtfulness on guidance, maybe to say conservative level. And so we’ve been now reaching out to those customers and have been very encouraged by those early conversations of converting what have been on that pre-COVID plan into paying customers.

Thank you, Jayson.

And we think that that’s a very unique opportunity that we can provide to the market.

One of the things that was difficult about the channel for us in the beginning was we made Cloudflare so easy to sign up for, there wasn’t – it wasn’t clear what value a reseller could add as a value-added reseller.

Yes, Matt. Your next question comes from the line of Sterling Auty with JPMorgan. We’re going to optimize for doing right by our customers and for the long-term. As a reminder, beginning last quarter, we shifted to revenue-based KPIs and away from billings as the basis for all KPIs.

So I wanted to step back from the granularity of the quarter, a little bit to what I think is probably the key longer term picture.

Yes.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. These are tough times for many businesses. Of course, we are part of the larger global economy and less we forget we’re still in the midst of a global pandemic. Matthew Prince – … Operating cash flow was positive $4 million in the second quarter.

I’ve been excited to watch how they use Cloudflare Workers, our serverless computing platform to scale and empower the explosive growth they’ve seen over the first half of 2020. The global growth of internet traffic largely plateaued in Q2 and we believe it will remain largely flat in Q3. Operator, please poll for questions. A question for Thomas and it might be correlated, I’m building on the prior question. We also think that the strong momentum we’ve seen on large expansion deals, I mentioned in my script that nine out of the large 10 large deals where expansion deals with existing customers. And so I think that’s been the very positive thing that we’re hearing and that they really are starting to understand that Cloudflare is the next-generation network that can solve a lot of the problems that they used to have to buy boxes for. I think the former of those we’ve seen continued strength in – I think there’s a little bit of uncertainty around the ladder. It’s not like we have no paying customers on the team product, Matthew in his script mentioned that one of the oldest financial institutions in Europe that signed up for Cloudflare access.

I think that’s right. We had a very strong quarter. So with Teams, we have disclosed exactly how many customers we have on the platform that’s sold on a seats base. The Zacks Consensus Estimate for the top line is currently pegged at $87.3 million, indicating 4.1% growth from the fourth quarter’s reported figure of $83.9 million.Moreover, the consensus mark for loss has stayed at 6 cents per share over the past 30 days, flat with the fourth quarter’s reported loss figure. While concessions ended up lower than we had forecasted, I’m proud of how our team works to accommodate those of our customers that were struggling due to COVID. Notably, the company completed its initial public offering (IPO) in September 2019. And the downside of that is, those containers – when you have to scale up, it takes a lot of time. As Matthew mentioned, we achieved record hiring in the second quarter with a focus on key geographies like Austin and Lisbon increasing our headcount by 44% year-over-year and bringing our total number of employees to 1,535 at the end of the quarter. So that’s where you had companies like dotCloud, which became Docker and the real revolution in containers, which were a lighter weight version of a virtual machine. And we had over 2,000 companies sign up for our promotion that gave that product away through September of this year. Your next question comes from the line of Phil Winslow with Wells Fargo. It’s fair to say that little of that – almost none of that, what is today free, is reflected in our guidance for the year, because we want to be really considerate about how we approach that. For all future releases Just for the upcoming release Send me a reminder 1 trading day before Second quarter free cash flow was negative $20.2 million or 20% of revenue compared to the negative $16.9 million or 25% of revenue in the same period last year. So one is from Chinese companies, which are trying to sell outside of China and the second is for U.S. companies that want to sell into China. Therefore, we are pleased to raise guidance both for the third quarter, as well as for the fiscal year.

And with Kubernetes orchestration going from 15% of new applications being deployed to over 50 in the next three years that you guys really are the best connected tissue between those applications to other applications domain to domain and from applications to users? But again, it’s been a relatively small piece of our business.

You may now disconnect.

We have good visibility of what is going to roll off from a balance sheet perspective. All current and prior period financials discussed are reflected under ASC 606. Personally, when we talk to partners and customers alike, we think Workers could be one of just the biggest long-term opportunities you have.

We saw strength from our customers of all sizes.

I emphasized that great companies use crises to focus on what’s most important, but also to invest in the future, while others pull back. And then along came VMware and virtual machine. A meaningful number of large expansion deals came from customers that haven’t yet been on the platform for a year, and therefore, have yet to contribute to dollar net retention.