{ "docId": "019dd923-5efe-75c0-8dff-dde54545c5ba", "docSlug": "92b80b4c1a08c8a8", "documentTitle": "2025 Investor Day", "authorId": "Cloudflare", "authorName": "Cloudflare", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.777, "pageNumber": 117, "pageCount": 117, "prevPage": 116, "nextPage": null, "slideType": "appendix_methodology", "function": "appendix", "density": "dense", "nDataPoints": 0, "notes": "Includes a comprehensive list of companies in the SaaS Peer Group as of Q4 2024.", "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5efe-75c0-8dff-dde54545c5ba/117", "deckHref": "/decks/019dd923-5efe-75c0-8dff-dde54545c5ba", "deckJsonHref": "/decks/019dd923-5efe-75c0-8dff-dde54545c5ba.json", "deckAnchorHref": "/decks/019dd923-5efe-75c0-8dff-dde54545c5ba#slide-117", "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.35 }, "kind": "paragraph", "text": "Annual Contract Value (ACV). Annual Contract Value, or ACV, is defined as the revenue that we would contractually expect to recognize over the term of the contract divided by the term of the contract in years.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3fa1667c-4061-4932-8a1b-1f930b3a590a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "paragraph", "text": "SaaS Peer Group. The SaaS peer group in 4Q'24 includes the following companies who reported their fourth quarter calendar year 2024 results as of March 6, 2025: Adobe, Atlassian, Autodesk, Akamai, CrowdStrike, Datadog, Okta, Palantir, Salesforce, ServiceNow, Shopify, Snowflake, Twilio, Veeva Systems, Workday, Zoom Communications, Zscaler, BILL Holdings, Bentley Systems, Confluent, DigitalOcean, Dropbox, Dynatrace, Elastic, Five9, HubSpot, monday.com, MongoDB, Paycom Software, Paylocity Holding, Procore Technologies, RingCentral, SS&C Technologies, Wix.com, ZoomInfo, 8x8, AppFolio, BigCommerce, Blackbaud, BlackLine, C3.ai, Domo, Fastly, Freshworks, Gitlab, Guideware Software, Jamf Holding, JFrog, LiveRamp, Olo, Paycor HCM, Q2 Holdings, Qualys, Rapid7, Samsara, SolarWinds, Sprout Social, Tenable Holdings, Varonis Systems, Vertex, Workiva, Yext, Appian, Clearwater Analytics, Couchbase, CS Disco, CyberArk Software, Docebo, DoubleVerify, Doximity, GoDaddy, Lightspeed Commerce, N-able, NICE, Nutanix, OneSpan, Pegasystems, PROS Holdings, SPS Commerce, Unity Software, VTEX, Zeta Global Holdings, and Palo Alto Networks. The SaaS peer group in prior quarters also includes DocuSign, Asana, SentinelOne, UiPath, Braze, nCino, PagerDuty, EverCommerce, Phreesia, and Sprinklr in addition to the aforementioned list of peers.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5646b75b-7ea6-474a-89ab-82164df4cc60", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.25 }, "kind": "paragraph", "text": "Annualized Recurring Revenue (ARR). Annualized 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.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "71320c0d-bc5d-4d5b-9c1a-62f70aa7ce1c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.68 }, "kind": "paragraph", "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.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9d99e73b-5ec4-44c4-927c-3f50988a87da", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.42 }, "kind": "paragraph", "text": "Total Addressable Market. Total Addressable Market figures are Cloudflare estimates based on Gartner market forecasts and include the following Gartner sources: (1) Forecast Enterprise Network Equipment by Market Segment, Worldwide, 2022-2028, 4Q24 Update, Gartner, Christian Canales, Naresh Singh, Gurjyot Uppal, 12/24/2024 (2) Forecast Analysis: Edge Distribution Platforms, Worldwide, Gartner, Brandon Medford, Jimmy Chuang, 08/22/2024 (3) Forecast: Information Security, Worldwide, 2022-2028, 4Q24 Update, Gartner, Shailendra Upadhyay, Akshita Joshi, Elizabeth Kim, Ruggero Contu, Charanpal Bhogal, Rahul Yadav, Matt Milone, Sean O'Neill, Mark Wah, Christian Canales, 12/19/2024 (4) Forecast: IT Operations Management Software, Worldwide, 2022-2028, 2Q24 Update, Gartner, Shailendra Upadhyay, Kanchi Bindal, Colin Fletcher, 10/16/2024 (5) Forecast Analysis: Communications Services, Worldwide, Gartner, Grigory Betskov, Shashank Nigam, Gaspar Valdivia, Rashi Priyam, Shivansh Gupta, Vartika Dixit, 02/23/2024 (6) Forecast Analysis: CPaaS, Worldwide, Gartner, Lisa Unden-Farboud, Daniel O'Connell, Ajit Patankar, 03/08/2024 (7) Forecast: Enterprise Infrastructure Software, Worldwide, 2022-2028, 4Q24 Update, Gartner, Arunasree Cheparthi, Colin Fletcher, Robin Schumacher, Lisa Unden-Farboud, Nicholas Carter, Saikat Ray, Sharat Menon, Kelli Smith, Irina Guseva, Christian Canales, Brandon Medford, Amarendra ., Shailendra Upadhyay, Varsha Mehta, 12/17/2024. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c4ec1002-91b0-46be-8c25-d901f193abe2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.15 }, "kind": "title", "text": "Definitions & Methodologies", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1aeb8edd-64d1-4f63-b0c5-a3da183e7e7c", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "List presentation", "slug": "list-presentation", "agent": null, "layer": "slide", "matchId": "e15d0a37-bfdf-4719-8bde-a9eb61940feb", "evidence": "paragraph/paragraph: Total Addressable Market. Total Addressable Market figures are Cloudflare estimates based on Gartner market forecasts and include the following Gartner sources: (1) Forecast Enterprise Network Equipm", "confidence": 0.7 } ], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }