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Atlas Research Note

Cloudflare Q3 2026: Growth Speeds Up Again, and Agents Are Choosing Workers

Ben Bajarin ยท November 6, 2026

Creative Strategies earnings read | November 6, 2026 | Cloudflare third-quarter 2026 results and conference call, November 5, 2026 Cloudflare grew revenue 39% from a year ago to $782.5 million, beat the midpoint of its own guidance by 6.2%, posted the highest operating margin in its history at 17.5%, and guided the fourth quarter to $845 million to $846 million, up 38%. Operating view: This was the second quarter in a row that growth sped up and the third in a row that the beat over guidance got bigger, and it came with operating margin up 370 basis points from the second quarter. Management gave two reasons.

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