After setting an optimistic target for full year 2023 revenue growth in early February, Cloudflare management was forced to reset guidance lower after sales cycles unexpectedly elongated in March. While this can be attributed to exogenous effects like banking turmoil and macro conditions, investors are left guessing whether the Q1 results were a one-time speed bump or a precursor to further deceleration in growth.
After setting an optimistic target for full year 2023 revenue growth in early February, Cloudflare management was forced to reset guidance lower after sales cycles unexpectedly elongated in March. While this can be attributed to exogenous effects like banking turmoil and macro conditions, investors are left guessing whether the Q1 results were a one-time speed bump or a precursor to further deceleration in growth.