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Cloudflare, Inc. (NET)

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CIK 0001477333 · NYSE · Services-Prepackaged Software

  • Sector Services
  • Incorporated DE
  • Fiscal year ends Dec 31

For the year ended 2025-12-31, Cloudflare, Inc. reported revenue of $2.17B. Revenue grew 29.8% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $2.51B.

Key ratios (year ended 2025-12-31)

74.5%
Gross margin
-9.6%
Operating margin
-4.7%
Net margin
-7.0%
Return on year-end equity
29.8%
Revenue growth (YoY)

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Latest selected filing: Form 4 (ownership change) · 2026-10-07

Headquarters locality: San Francisco · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period endedTTM to
2026-06-30		2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Revenue$2.51B$2.17B$1.67B$1.30B$975.24M$656.43M$431.06M$287.02M$192.67M$134.91M
Cost of Revenue$688.97M$552.52M$378.70M$307.00M$232.61M$147.13M$101.06M$63.42M$43.54M$28.79M
Gross Profit$1.82B$1.62B$1.29B$989.74M$742.63M$509.29M$330.00M$223.60M$149.14M$106.13M
R&D Expense$573.30M$512.49M$421.37M$358.14M$298.30M$189.41M$127.14M$90.67M$54.46M$33.65M
Operating Income-$354.38M-$207.21M-$154.76M-$185.49M-$201.20M-$127.68M-$106.77M-$107.95M-$84.90M-$9.73M
Depreciation & Amortization$225.22M$189.74M$127.72M$135.82M$102.33M$66.61M$49.39M$29.48M$18.91M$12.17M
EBITDA-$129.16M-$17.46M-$27.04M-$49.66M-$98.87M-$61.08M-$57.38M-$78.47M-$65.99M$2.44M
Net Income-$206.28M-$102.27M-$78.80M-$183.95M-$193.38M-$260.31M-$119.37M-$105.83M-$87.16M-$10.75M
EPS (Diluted)n/a-$0.29-$0.23-$0.55-$0.59-$0.83-$0.40-$0.72n/an/a
Total Assets$6.47B$6.04B$3.30B$2.76B$2.59B$2.37B$1.38B$830.82M$298.38Mn/a
Total Liabilities$4.85B$4.58B$2.25B$2.00B$1.96B$1.56B$563.71M$105.00M$80.36Mn/a
Shareholders' Equity$1.62B$1.46B$1.05B$763.05M$623.96M$811.36M$816.94M$725.83M-$113.50M-$59.83M
Cash & Equivalents$1.66B$943.54M$147.69M$86.86M$204.18M$313.78M$108.89M$138.98M$25.05Mn/a
Operating Cash Flow$633.43M$603.11M$380.43M$254.41M$123.59M$64.65M-$17.13M-$38.92M-$43.28M$3.17M
Capital Expenditures$285.02M$315.62M$185.04M$114.40M$143.61M$92.99M$56.38M$43.29M$25.47M$19.03M
Free Cash Flow$348.40M$287.50M$195.39M$140.01M-$20.01M-$28.34M-$73.50M-$82.21M-$68.75M-$15.86M
Share Repurchasesn/a$0$0$34.0K$3.0K$189.0K$157.0K$283.0K$65.0K$16.0K
Weighted Average Diluted Sharesn/a348.42M341.41M333.66M326.33M312.32M299.77M146.31Mn/an/a
EPS (Basic)n/a-$0.29-$0.23-$0.55-$0.59-$0.83-$0.40-$0.72n/an/a

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