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  "documentTitle": "2024 Investor Day",
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      "kind": "paragraph",
      "text": "Annual Contract Value (ACV). Annual Contract Value, or ACV, is defined as the subscription revenue that we would contractually expect to recognize over the term of the contract divided by the term of the contract in years.",
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      "text": "Total Addressable Market. Total Addressable Market figures are Cloudflare estimates based on Gartner and IDC market forecasts. Figures reflect the markets addressed by our current product offerings. IDC markets covered include DDoS protection services, CDN, Bot Management, and API Security. All other markets are covered by Gartner forecasts and include the following Gartner sources: (1) Forecast: Information Security and Risk Management, Worldwide, 2022-2028, 1Q24 Update, Shailendra Upadhyay, Christian Canales, et.al., 03/29/2023; (2) Forecast: Enterprise Network Equipment by Market Segment, Worldwide, 2022-2028, 1Q24 Update, Christian Canales, Naresh Singh, et.al., 03/27/2024, and (3) Forecast: Enterprise Infrastructure Software, Worldwide, 2022-2028, 1Q24 Update, Arunasree Cheparthi, Robin Schumacher, et.al., 03/22/2024.",
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      "text": "Methodology of Potential Opportunity of Current Products within Existing Customer Base. The analysis begins with the reported or estimated revenue of each Cloudflare existing customer on the measurement date. If reported customer revenue is not available, a proxy customer revenue is estimated based on various factors, including the customer's last outside funding date, amount, and implied valuation. An IT spend % of revenue (based on a third party estimate) is then applied to the customer's reported or estimated revenue based on the customer's industry and size, followed by a TAM (Total Addressable Market) % of Global IT Spend (as obtained from a third party estimate), and SAM (Serviceable Addressable Market) % to TAM at the country level, to get to the potential opportunity from the existing Cloudflare customer. However, if the customer's current ARR is greater than that number, then the customer's current ARR with a multiplier of 1.5x or less is used for the potential opportunity from that existing customer.",
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      "text": "Annualized Recurring Revenue (ARR). Annual Recurring Revenue, or ARR, is defined as the annualized value of our customer subscription contracts as of the measurement date, assuming any contract that expires during the next 12 months is renewed on its existing terms. ARR is calculated by multiplying the revenue in the fourth quarter of each respective year by four.",
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      "text": "Definitions & Methodologies",
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