Cloudflare CEO Matthew Prince. Photo credit: World Economic Forum / Sikarin Thanachaiary, under Creative Commons license

Internet security company Cloudflare has announced its financial results for the second quarter of this year, indicating $100 million in revenue, up 48% year-over-year, and $26 million in losses, up from $20 million in the same quarter last year. As of the end of the second quarter, Cloudflare reported having $1.07 billion in cash and short-term investments on its balance sheet. During the quarter, Cloudflare notably added more employees compared to any other quarter in its history.

Forecast

For the third quarter of this year, Cloudflare is projecting revenues of about $103 million. For the full year, the company is projecting revenues of between $404 million to $408 million.