Cloudflare (NET) shares took off Friday, a day after the provider of cloud services beat revenue estimates as it signed a pair of big contracts.

The company reported first-quarter revenue jumped 27% year-over-year to $479.1 million, beating Visible Alpha estimates by about $10 million. However, adjusted earnings per s꧑hare of $0.16 came inꦕ a penny below forecasts. 

CEO and co-founder Matthew Prince said Cloudflare sco💛red the largest contract in its history, a more than $100 milliꦉon deal driven by its Workers developer platform. It also signed its longest-term secure access service edge (SASE) contract ever. 

Prince added that Cloudflare has "the scale, the technology, and the team to capture the massive opportunity ahead of us."

The company sees full-year adjusted EPS of $0.79 to $0.80, and revenue of $2.090 billion to $2.09൲4 billion. Analysts surveyed by Visible Alpha were looking for $0.80 and $2.095 billion, respectively. 

Shares of Cloudflare surged 9% and are up about 25% in 2025.