# Cloudflare, Inc.: overview

NET · NYSE · CIK 1477333 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/net.md) · [Financials](/companies/net/financials.md) · [Filings](/companies/net/filings.md) · [Insiders](/companies/net/insiders.md)

Latest reported revenue: [$696.1m](/filings/0001477333-26-000054.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001477333-26-000054).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [430](/filings/0001477333-25-000141.md) | [460 d](/filings/0001477333-26-000016.md) | [479](/filings/0001477333-26-000038.md) | [512](/filings/0001477333-26-000054.md) | [562](/filings/0001477333-25-000141.md) | [615 d](/filings/0001477333-26-000016.md) | [640](/filings/0001477333-26-000038.md) | [696](/filings/0001477333-26-000054.md) |
| Gross margin | % | [77.7%](/filings/0001477333-25-000141.md) | [76.4% d](/filings/0001477333-26-000016.md) | [75.9%](/filings/0001477333-26-000038.md) | [74.9%](/filings/0001477333-26-000054.md) | [74.0%](/filings/0001477333-25-000141.md) | [73.6% d](/filings/0001477333-26-000016.md) | [71.2%](/filings/0001477333-26-000038.md) | [71.8%](/filings/0001477333-26-000054.md) |
| Operating margin | % | [(7.2%)](/filings/0001477333-25-000141.md) | [(7.5%) d](/filings/0001477333-26-000016.md) | [(11.1%)](/filings/0001477333-26-000038.md) | [(13.1%)](/filings/0001477333-26-000054.md) | [(6.7%)](/filings/0001477333-25-000141.md) | [(8.0%) d](/filings/0001477333-26-000016.md) | [(9.7%)](/filings/0001477333-26-000038.md) | [(29.6%)](/filings/0001477333-26-000054.md) |
| Net margin | % | [(3.6%)](/filings/0001477333-25-000141.md) | [(2.8%) d](/filings/0001477333-26-000016.md) | [(8.0%)](/filings/0001477333-26-000038.md) | [(9.8%)](/filings/0001477333-26-000054.md) | [(0.2%)](/filings/0001477333-25-000141.md) | [(2.0%) d](/filings/0001477333-26-000016.md) | [(3.6%)](/filings/0001477333-26-000038.md) | [(24.4%)](/filings/0001477333-26-000054.md) |
| Diluted EPS | $ per share | [(0.04)](/filings/0001477333-25-000141.md) | not reported | [(0.11)](/filings/0001477333-26-000038.md) | [(0.15)](/filings/0001477333-26-000054.md) | [0.00](/filings/0001477333-25-000141.md) | not reported | [(0.07)](/filings/0001477333-26-000038.md) | [(0.48)](/filings/0001477333-26-000054.md) |
| Free cash flow | $m | [54.5 d](/filings/0001477333-25-000141.md) | [54.2 d](/filings/0001477333-26-000016.md) | [59.9](/filings/0001477333-26-000038.md) | [39.9 d](/filings/0001477333-26-000054.md) | [82.5 d](/filings/0001477333-25-000141.md) | [105 d](/filings/0001477333-26-000016.md) | [93.1](/filings/0001477333-26-000038.md) | [67.6 d](/filings/0001477333-26-000054.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [656](/filings/0001477333-24-000013.md) | [975](/filings/0001477333-25-000043.md) | [1,297](/filings/0001477333-26-000016.md) | [1,670](/filings/0001477333-26-000016.md) | [2,168](/filings/0001477333-26-000016.md) |
| Gross margin | % | [77.6%](/filings/0001477333-24-000013.md) | [76.1%](/filings/0001477333-25-000043.md) | [76.3%](/filings/0001477333-26-000016.md) | [77.3%](/filings/0001477333-26-000016.md) | [74.5%](/filings/0001477333-26-000016.md) |
| Operating margin | % | [(19.5%)](/filings/0001477333-24-000013.md) | [(20.6%)](/filings/0001477333-25-000043.md) | [(14.3%)](/filings/0001477333-26-000016.md) | [(9.3%)](/filings/0001477333-26-000016.md) | [(9.6%)](/filings/0001477333-26-000016.md) |
| Net margin | % | [(39.7%)](/filings/0001477333-24-000013.md) | [(19.8%)](/filings/0001477333-25-000043.md) | [(14.2%)](/filings/0001477333-26-000016.md) | [(4.7%)](/filings/0001477333-26-000016.md) | [(4.7%)](/filings/0001477333-26-000016.md) |
| Diluted EPS | $ per share | [(0.83)](/filings/0001477333-24-000013.md) | [(0.59)](/filings/0001477333-25-000043.md) | [(0.55)](/filings/0001477333-26-000016.md) | [(0.23)](/filings/0001477333-26-000016.md) | [(0.29)](/filings/0001477333-26-000016.md) |
| Free cash flow | $m | [(28.3)](/filings/0001477333-24-000013.md) | [(20.0)](/filings/0001477333-25-000043.md) | [140](/filings/0001477333-26-000016.md) | [195](/filings/0001477333-26-000016.md) | [287](/filings/0001477333-26-000016.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/net/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Capital World Investors](/funds/1422849.md) | 2026-06-30 | $5.97bn | 24,325,692 |  | Added +1,590,123 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $5.30bn | 21,598,907 |  | Added +504,625 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $4.13bn | 16,819,726 |  | Added +779,837 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $3.74bn | 15,258,327 |  | Reduced −624,994 |
| [BAILLIE GIFFORD & CO](/funds/1088875.md) | 2026-06-30 | $3.58bn | 14,598,594 |  | Reduced −1,325,829 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $3.54bn | 14,430,365 |  | Added +714,169 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $3.10bn | 12,655,471 |  | Reduced −904,980 |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $2.69bn | 10,981,005 |  | Added +87,840 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $1.82bn | 7,420,765 |  | Added +242,046 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $1.46bn | 5,963,905 |  | Reduced −29,524 |

## Recent filings

[All 1,219 filings](/companies/net/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-13 | 21:01 ET | [8-K](/filings/0000950103-26-012340.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 3.02 Unregistered sale of equity; 8.01 Other events; 9.01 Financial statements and exhibits | 0000950103-26-012340 |
| 2026-08-06 | 20:24 ET | [10-Q](/filings/0001477333-26-000054.md) | Quarterly report, period 2026-06-30 | 0001477333-26-000054 |
| 2026-08-06 | 20:20 ET | [8-K](/filings/0001477333-26-000053.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001477333-26-000053 |
| 2026-07-01 | 21:09 ET | [8-K/A](/filings/0001477333-26-000044.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001477333-26-000044 |
| 2026-06-30 | 20:56 ET | [8-K](/filings/0001477333-26-000042.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001477333-26-000042 |
| 2026-06-09 | 20:23 ET | [DEF 14A](/filings/0001193125-26-263809.md) | Proxy statement, period 2026-06-30 | 0001193125-26-263809 |
| 2026-05-08 | 10:02 ET | [10-Q](/filings/0001477333-26-000038.md) | Quarterly report, period 2026-03-31 | 0001477333-26-000038 |
| 2026-05-07 | 21:15 ET | [8-K/A](/filings/0001477333-26-000035.md) | 2.02 Results of operations; 2.05 Exit or disposal costs; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001477333-26-000035 |
| 2026-05-07 | 20:21 ET | [8-K](/filings/0001477333-26-000033.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001477333-26-000033 |
| 2026-04-29 | 20:29 ET | [10-K/A](/filings/0001477333-26-000026.md) | Annual report, amended, period 2025-12-31 | 0001477333-26-000026 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001477333-26-000016.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/6d9828b5-e12b-49ef-9e01-d0eb6810eb18)

## About the filer

- CIK: 1477333
- Tickers: NET
- Exchange: NYSE
- SIC code: 7372 Services-Prepackaged Software
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:40 ET. No prices; not investment advice.