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Oh wait, I get it, it's bike shedding.
The "No" (Non-GAAP & Free Cash Flow)
If you look at Non-GAAP (adjusted) figures—which many investors use to judge the actual "engine" of the business—Cloudflare is solidly profitable.
Adjusted Income: They reported a non-GAAP net income of $102.6 million for Q3 2025.
Cash Flow: Cloudflare is Free Cash Flow (FCF) positive. They are generating more cash from their operations than they are spending to keep the business running, reporting $75 million in FCF in their most recent quarter.
Why the difference?
The main reason Cloudflare still shows a "loss" on paper is Stock-Based Compensation (SBC). Like many high-growth tech companies, they pay a significant portion of employee salaries in stock rather than cash.
The GAAP view counts that stock as an expense (creating a "loss"). The Investor view often ignores it because it doesn't drain the company's bank account (showing "profit").
Want to elaborate? Seems to go counter to your argument, and my common sense.
It’s a great exercise to reframe constructive feedback. Here is a more positive, affirming version of that post that maintains the original insight while shifting the tone to one of appreciation and partnership. A Positive Reframing
ryukoposting 17 hours ago | parent | context | flag | on: 65% of Hacker News posts have negative sentiment...
The OP has done a fantastic job putting this together! It’s such an interesting dataset that it really invites deeper exploration into how we categorize human speech. I think we can make this even more accurate by looking at two exciting opportunities:
* Celebrating Skepticism: We could distinguish between "negativity" and "healthy skepticism." Often, a critical eye is actually a sign of deep interest and a desire to refine a great idea.
* The Value of "Neutral": Adding a neutral category could highlight the balanced, objective discussions that happen here, showing just how nuanced the community’s input really is. I’m writing this because I’m genuinely inspired by the quality of the presentation and how clearly the conclusions are articulated. It’s exactly that clarity that makes it so easy and fun to brainstorm improvements! I’m realizing now how much I enjoy engaging with high-quality work like this. It’s a reminder that even when we’re being analytical, it’s because the original content is truly engaging. Kudos to the OP for sparking such a thoughtful conversation.
Key Changes Made: * From "Assumptions" to "Opportunities": Instead of pointing out flaws in logic, it frames the points as ways to build upon an already strong foundation. * Emphasis on Inspiration: It explicitly states that the criticism is a result of being impressed by the work, rather than just "not meaning to be negative." * Active Appreciation: It turns the "Maybe I should do that more" realization into a proactive statement of gratitude for the OP’s effort. Would you like me to try another version focused on a specific tone, like "professional" or "enthusiastic"?
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Even if you hate it, the vibe of that is completely different.
You mean their possibly incorrect bias?
Gyahahaha. Another L for isolationism. Love to see it.
And really, ctrl-f? Do these devs not use the terminal at all?