In Q3'25, Cloudflare's (NET) revenue from Channel partners reached $1.13B, marking a significant surge from $130M in Q2'25, while Direct customers contributed $367M, remaining relatively stable compared to the prior quarter. The total revenue for the period hit approximately $1.5B, highlighting the growing dominance of the Channel partners segment in the company's overall sales distribution. Over the period from Q4'22 to Q3'25, both segments exhibited consistent growth, with Direct customers starting at $238M and steadily increasing to $367M—a compound annual growth rate of about 15%—driven by reliable expansion in core client base. Channel partners showed more accelerated momentum, rising from $37M to $1.13B, particularly accelerating post-Q2'25 with a 765% quarter-over-quarter jump, underscoring a strategic shift toward partner ecosystems that now account for over 75% of total revenue in the latest quarter. This stacked bar chart reveals no major declines, only upward trends with increasing partner reliance potentially diversifying risk but warranting monitoring for sustainability.