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  "documentTitle": "2025 Q1 Investor Presentation",
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  "notes": "The chart illustrates operating leverage by showing the reduction in S&M, R&D, and G&A as a percentage of revenue, which correlates with the increase in operating margin.",
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      "text": "Note: See the Appendix for GAAP to Non-GAAP reconciliation. 2025E is based on full-year mid-point guidance provided by Cloudflare on May 8, 2025.",
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