I think you could make that argument, yeah.

https://au.finance.yahoo.com/quote/NET/financials/

Interesting to look at, a decent example for sure.

Is that because more people are signing up to use Cloudflare as a MITM to block the increasing avalanche of AI-generated traffic though??

I don’t know exactly where the money comes from but they are clearly launching vibecoded products https://try.cloudflare.com/ and seem to be quite good at it. So they are shipping more for sure and it seems to help win them business/ expand their existing accounts.