Cloudflare's Workers Platform Drives Growth with 7.4 Million Developers

Product / Tech
โดย Zacks Investment Research·US·Read original
Summary · why it matters

Cloudflare's Workers developer platform is becoming a key growth engine, with the company reporting over 7.4 million developers on the platform by the end of the second quarter of 2026, adding nearly two million in that quarter alone—more than the 1.5 million added during all of 2025. The platform is gaining traction among enterprise customers, with more including Workers in pool-of-funds contracts; for instance, an APAC technology company signed a $4 million Workers contract after an $8.7 million Application Services deal, and another signed a $6 million contract for AI agent capabilities. Cloudflare says Workers has moved beyond adoption to meaningfully contribute to revenues, driving consumption alongside security and networking products. The rise of AI agents could further boost the platform, with Zacks Consensus Estimates projecting 32.3% and 28.5% year-over-year revenue growth for 2026 and 2027, respectively. However, Cloudflare faces tough competition from Palo Alto Networks, whose SASE segment grew 40% year over year in fiscal Q3 2026, and Zscaler, which ended its fiscal Q3 with over 700 Zero Trust Everywhere enterprises, up from 550. Cloudflare's stock is up 40.7% year-to-date, trading at a forward price-to-sales ratio of 28.87 versus the industry's 3.91, and carries a Zacks Rank #3 (Hold).

Impact on stocks 4

Cybersecurity & Digital Trust▼ · 2 stocks
ZSCALER INC. DL-,001
0ZC
▼ NegativeCompetitionrelevance

Zscaler's growth in Zero Trust enterprises is cited as competition for Cloudflare.

Zscaler Inc
ZS
▼ NegativeCompetitionrelevance

Zscaler's Zero Trust Everywhere enterprises grew to over 700, up from 550, highlighting competitive threat to Cloudflare.

Cloud & Digital Infrastructure▲ · 1 stocks
Cloudflare Inc
NET
▲ PositiveDemandrelevance

Workers platform adds 2M developers in Q2 2026, with enterprise contracts like $4M and $6M deals, driving revenue growth.

Artificial Intelligence▼ · 1 stocks
Palo Alto Networks Inc
PANW
▼ NegativeCompetitionrelevance

Cloudflare's growth is contrasted with Palo Alto Networks' SASE segment growing 40% YoY, indicating competitive pressure.

Theme Impact 2

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