Cloudflare, Inc. (NET) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, Cloudflare reported revenue of $2.17B, up 29.8% from $1.67B the year before. Net income was -$102.3M (a -4.7% net margin), or -$0.29 per diluted share. Gross margin was 74.5% and operating margin was -9.6%. Operating activities generated $603.1M of cash, leaving $287.5M of free cash flow. At fiscal year end, Cloudflare held $6.04B in total assets against $4.58B in total liabilities, including $943.5M of cash and equivalents.
Open the full interactive Cloudflare financials → Quarterly statements, key ratios, valuation history and price charts.
Cloudflare Key Stats
| Share Price | $347.70 |
|---|---|
| Market Cap | $123.20B |
| Revenue YoY Growth | +29.8% |
| 52-Week Range | $160.19 – $360.93 |
| Shares Outstanding | 354.3 million (basic, 2026 Q2) |
Cloudflare Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $431.1M | $656.4M | $975.2M | $1.30B | $1.67B | $2.17B |
| Gross Profit | $330.0M | $509.3M | $742.6M | $989.7M | $1.29B | $1.62B |
| Operating Income | -$106.8M | -$127.7M | -$201.2M | -$185.5M | -$154.8M | -$207.2M |
| Pre-Tax Income | -$125.0M | -$248.0M | -$190.7M | -$177.9M | -$70.9M | -$92.7M |
| Income Tax | -$5.6M | $12.3M | $2.6M | $6.1M | $7.9M | $9.6M |
| Net Income | -$119.4M | -$260.3M | -$193.4M | -$183.9M | -$78.8M | -$102.3M |
| Diluted EPS | -$0.40 | -$0.83 | -$0.59 | -$0.55 | -$0.23 | -$0.29 |
Cloudflare Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $562.0M | $614.5M | $639.8M | $696.1M |
| Net Income | -$1.3M | -$12.1M | -$22.9M | -$170.0M |
| Diluted EPS | — | -$0.03 | -$0.07 | -$0.48 |
Cloudflare Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $108.9M | $313.8M | $204.2M | $86.9M | $147.7M | $943.5M |
| Current Assets | $1.13B | $1.96B | $1.89B | $1.98B | $2.27B | $4.64B |
| Total Assets | $1.38B | $2.37B | $2.59B | $2.76B | $3.30B | $6.04B |
| Current Liabilities | $141.4M | $288.6M | $397.9M | $567.1M | $793.7M | $2.35B |
| Total Long-Term Debt | $383.3M | $1.16B | $1.44B | $1.28B | $1.29B | $3.27B |
| Total Liabilities | $563.7M | $1.56B | $1.96B | $2.00B | $2.25B | $4.58B |
| Shareholders' Equity | $816.9M | $811.4M | $624.0M | $763.0M | $1.05B | $1.46B |
Cloudflare Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$17.1M | $64.6M | $123.6M | $254.4M | $380.4M | $603.1M |
| Cash From Investing | -$515.3M | -$709.3M | -$235.7M | -$186.2M | -$330.2M | -$1.81B |
| Cash From Financing | $504.9M | $847.5M | $6.3M | -$192.2M | $12.8M | $2.00B |
| Free Cash Flow | -$73.5M | -$28.3M | -$20.0M | $140.0M | $195.4M | $287.5M |
Figures from Cloudflare's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Cloudflare financials page for every line item.
Cloudflare Company Profile
| Ticker | NET |
|---|---|
| Exchange | NYSE |
| Industry | Prepackaged Software (Services) |
| Headquarters | San Francisco, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001477333 |
Frequently Asked Questions
What was Cloudflare's revenue in fiscal 2025?
Cloudflare (NET) reported revenue of $2.17B for fiscal 2025.
What is Cloudflare's annual revenue history?
Cloudflare's annual revenue by fiscal year: 2020: $431.1M; 2021: $656.4M; 2022: $975.2M; 2023: $1.30B; 2024: $1.67B; 2025: $2.17B.
What was Cloudflare's net income in fiscal 2025?
Cloudflare reported net income of -$102.3M for fiscal 2025.
What was Cloudflare's earnings per share (EPS) in fiscal 2025?
Cloudflare's diluted EPS was -$0.29 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Cloudflare generate in fiscal 2025?
Cloudflare generated $287.5M of free cash flow in fiscal 2025.
What was Cloudflare's revenue last quarter?
In its most recent reported quarter (2026 Q2), Cloudflare reported revenue of $696.1M.
How much debt does Cloudflare have?
Cloudflare reported $3.27B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Cloudflare are outstanding?
Cloudflare reported a weighted average of 354.3 million basic shares outstanding in 2026 Q2.
What is Cloudflare's market cap?
Based on its latest closing price, Cloudflare (NET) has a market capitalization of about $123.20B.
When does Cloudflare's fiscal year end?
Cloudflare's fiscal year end, as registered with the SEC, is December 31.
Where is Cloudflare headquartered?
Cloudflare lists its business address in San Francisco, California in its SEC filings.