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Cloudflare, Inc. (NYSE:NET), a technology company with a market capitalization of $61.88 billion, announced the results of its 2025 Annual Meeting of Stockholders, which took place on June 5, 2025. The company, whose stock has delivered an impressive 66.86% return year-to-date and is currently trading near its 52-week high, filed with the Securities and Exchange Commission that shareholders voted on several key proposals during the meeting, which saw a high turnout with approximately 91.38% of the total voting power present or represented by proxy.
The first proposal concerned the election of Class III directors. Stacey Cunningham, Mark Hawkins (NASDAQ:HWKN), and Carl Ledbetter were each elected to serve as Class III directors until the 2028 annual meeting of stockholders. The votes cast for each nominee were as follows: Cunningham received 577,439,996 votes for and 2,818,870 withheld; Hawkins had 574,499,568 votes for and 5,759,298 withheld; and Ledbetter garnered 548,951,342 votes for with 31,307,524 withheld. There were 34,431,856 broker non-votes for each nominee.
The second proposal was the ratification of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal was ratified with an overwhelming majority of 610,200,958 votes for, 3,632,655 against, and 857,109 abstentions.
The third proposal was an advisory vote to approve the compensation of Cloudflare’s named executive officers as disclosed in the 2025 Proxy Statement. The compensation was approved with 516,021,763 votes for, 63,622,697 against, and 614,406 abstentions. There were also 34,431,856 broker non-votes on this proposal.
The report also included exhibits, such as the Cover Page Interactive Data File, formatted as Inline XBRL. This filing is based on the company’s recent SEC filing and provides a summary of the outcomes from the Annual Meeting. According to InvestingPro data, Cloudflare maintains strong revenue growth of 27.79% and has received a "GOOD" Financial Health rating. With the next earnings report scheduled for July 31, 2025, investors can access comprehensive analysis and 18 additional key insights through InvestingPro’s detailed research reports.
In other recent news, Cloudflare Inc . reported impressive first-quarter results for fiscal year 2025, surpassing revenue, operating income, and cash flow estimates from both the company and analysts. The company achieved its largest top-line revenue beat since the third quarter of 2020 and secured its largest deal ever, a five-year contract valued at $130 million. Cloudflare also signed its longest Secure Access Service Edge (SASE) contract, lasting seven years and worth $12.7 million. Stifel maintained a Buy rating on Cloudflare, highlighting the company’s continued success in the Zero-Trust security space and improved sales productivity. RBC Capital Markets raised its price target for Cloudflare to $155, citing strong enterprise growth and significant contract wins. Cantor Fitzgerald adjusted its price target to $126, emphasizing Cloudflare’s effective go-to-market strategy and its highest net new Annual Contract Value (ACV) in three years. TD Cowen maintained a Buy rating with a $150 price target, underscoring Cloudflare’s robust first-quarter performance and strategic market penetration. Additionally, Cloudflare and TD SYNNEX (NYSE:SNX) announced an expanded partnership to enhance cybersecurity services in Latin America, aiming to streamline operations and reduce costs for Managed Security Services Partners.
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