# Cloudflare, Inc.: financial statements, quarterly

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)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/net/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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 | [336](/filings/0001477333-24-000085.md) | [362 d](/filings/0001477333-26-000016.md) | [379](/filings/0001477333-25-000082.md) | [401](/filings/0001477333-25-000137.md) | [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) |
| Cost of revenue | $m | [78.1](/filings/0001477333-24-000085.md) | [83.3 d](/filings/0001477333-26-000016.md) | [85.0](/filings/0001477333-25-000082.md) | [89.0](/filings/0001477333-25-000137.md) | [96.0](/filings/0001477333-25-000141.md) | [109 d](/filings/0001477333-26-000016.md) | [116](/filings/0001477333-26-000038.md) | [129](/filings/0001477333-26-000054.md) | [146](/filings/0001477333-25-000141.md) | [162 d](/filings/0001477333-26-000016.md) | [184](/filings/0001477333-26-000038.md) | [197](/filings/0001477333-26-000054.md) |
| Gross profit | $m | [258](/filings/0001477333-24-000085.md) | [279 d](/filings/0001477333-26-000016.md) | [294](/filings/0001477333-25-000082.md) | [312](/filings/0001477333-25-000137.md) | [334](/filings/0001477333-25-000141.md) | [351 d](/filings/0001477333-26-000016.md) | [364](/filings/0001477333-26-000038.md) | [384](/filings/0001477333-26-000054.md) | [416](/filings/0001477333-25-000141.md) | [453 d](/filings/0001477333-26-000016.md) | [456](/filings/0001477333-26-000038.md) | [500](/filings/0001477333-26-000054.md) |
| Research and development | $m | [90.6](/filings/0001477333-24-000085.md) | [96.4 d](/filings/0001477333-26-000016.md) | [87.7](/filings/0001477333-25-000082.md) | [103](/filings/0001477333-25-000137.md) | [111](/filings/0001477333-25-000141.md) | [120 d](/filings/0001477333-26-000016.md) | [115](/filings/0001477333-26-000038.md) | [135](/filings/0001477333-26-000054.md) | [121](/filings/0001477333-25-000141.md) | [142 d](/filings/0001477333-26-000016.md) | [151](/filings/0001477333-26-000038.md) | [159](/filings/0001477333-26-000054.md) |
| Operating income | $m | [(39.2)](/filings/0001477333-24-000085.md) | [(42.8) d](/filings/0001477333-26-000016.md) | [(54.6)](/filings/0001477333-25-000082.md) | [(34.7)](/filings/0001477333-25-000137.md) | [(30.8)](/filings/0001477333-25-000141.md) | [(34.7) d](/filings/0001477333-26-000016.md) | [(53.2)](/filings/0001477333-26-000038.md) | [(67.3)](/filings/0001477333-26-000054.md) | [(37.5)](/filings/0001477333-25-000141.md) | [(49.2) d](/filings/0001477333-26-000016.md) | [(62.0)](/filings/0001477333-26-000038.md) | [(206)](/filings/0001477333-26-000054.md) |
| Interest expense | $m | [1.1](/filings/0001477333-23-000064.md) | [1.1 d](/filings/0001477333-24-000013.md) | [1.1](/filings/0001477333-24-000050.md) | [1.2](/filings/0001477333-25-000137.md) | [1.4](/filings/0001477333-25-000141.md) | [1.4 d](/filings/0001477333-26-000016.md) | [1.4](/filings/0001477333-26-000038.md) | [1.5](/filings/0001477333-26-000054.md) | [2.9](/filings/0001477333-25-000141.md) | [2.9 d](/filings/0001477333-26-000016.md) | [2.6](/filings/0001477333-26-000038.md) | [3.1](/filings/0001477333-26-000054.md) |
| Income tax | $m | [1.3](/filings/0001477333-24-000085.md) | [2.1 d](/filings/0001477333-26-000016.md) | [2.3](/filings/0001477333-25-000082.md) | [1.1](/filings/0001477333-25-000137.md) | [2.5](/filings/0001477333-25-000141.md) | [2.0 d](/filings/0001477333-26-000016.md) | [1.7](/filings/0001477333-26-000038.md) | [3.2](/filings/0001477333-26-000054.md) | [3.1](/filings/0001477333-25-000141.md) | [1.6 d](/filings/0001477333-26-000016.md) | [1.5](/filings/0001477333-26-000038.md) | [2.0](/filings/0001477333-26-000054.md) |
| Net income | $m | [(23.5)](/filings/0001477333-24-000085.md) | [(27.9) d](/filings/0001477333-26-000016.md) | [(35.5)](/filings/0001477333-25-000082.md) | [(15.1)](/filings/0001477333-25-000137.md) | [(15.3)](/filings/0001477333-25-000141.md) | [(12.8) d](/filings/0001477333-26-000016.md) | [(38.5)](/filings/0001477333-26-000038.md) | [(50.4)](/filings/0001477333-26-000054.md) | [(1.3)](/filings/0001477333-25-000141.md) | [(12.1) d](/filings/0001477333-26-000016.md) | [(22.9)](/filings/0001477333-26-000038.md) | [(170)](/filings/0001477333-26-000054.md) |
| Diluted EPS | $ per share | [(0.07)](/filings/0001477333-24-000085.md) | not reported | [(0.10)](/filings/0001477333-25-000082.md) | [(0.04)](/filings/0001477333-25-000137.md) | [(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) |
| Basic EPS | $ per share | [(0.07)](/filings/0001477333-24-000085.md) | not reported | [(0.10)](/filings/0001477333-25-000082.md) | [(0.04)](/filings/0001477333-25-000137.md) | [(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) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [94.1](/filings/0001477333-23-000064.md) | [86.9](/filings/0001477333-25-000043.md) | [254](/filings/0001477333-24-000050.md) | [157](/filings/0001477333-24-000070.md) | [183](/filings/0001477333-24-000085.md) | [148](/filings/0001477333-26-000016.md) | [204](/filings/0001477333-25-000082.md) | [1,519](/filings/0001477333-25-000137.md) | [1,053](/filings/0001477333-25-000141.md) | [944](/filings/0001477333-26-000054.md) | [932](/filings/0001477333-26-000038.md) | [1,664](/filings/0001477333-26-000054.md) |
| Current assets | $m | [1,858](/filings/0001477333-23-000064.md) | [1,983](/filings/0001477333-25-000043.md) | [2,016](/filings/0001477333-24-000050.md) | [2,093](/filings/0001477333-24-000070.md) | [2,164](/filings/0001477333-24-000085.md) | [2,269](/filings/0001477333-26-000016.md) | [2,624](/filings/0001477333-25-000082.md) | [4,406](/filings/0001477333-25-000137.md) | [4,537](/filings/0001477333-25-000141.md) | [4,645](/filings/0001477333-26-000054.md) | [4,716](/filings/0001477333-26-000038.md) | [4,778](/filings/0001477333-26-000054.md) |
| Total assets | $m | [2,590](/filings/0001477333-23-000064.md) | [2,760](/filings/0001477333-25-000043.md) | [2,802](/filings/0001477333-24-000050.md) | [2,917](/filings/0001477333-24-000070.md) | [3,063](/filings/0001477333-24-000085.md) | [3,301](/filings/0001477333-26-000016.md) | [3,721](/filings/0001477333-25-000082.md) | [5,562](/filings/0001477333-25-000137.md) | [5,786](/filings/0001477333-25-000141.md) | [6,036](/filings/0001477333-26-000054.md) | [6,164](/filings/0001477333-26-000038.md) | [6,474](/filings/0001477333-26-000054.md) |
| Current liabilities | $m | [478](/filings/0001477333-23-000064.md) | [567](/filings/0001477333-25-000043.md) | [574](/filings/0001477333-24-000050.md) | [596](/filings/0001477333-24-000070.md) | [642](/filings/0001477333-24-000085.md) | [794](/filings/0001477333-26-000016.md) | [821](/filings/0001477333-25-000082.md) | [858](/filings/0001477333-25-000137.md) | [2,223](/filings/0001477333-25-000141.md) | [2,351](/filings/0001477333-26-000054.md) | [2,411](/filings/0001477333-26-000038.md) | [2,628](/filings/0001477333-26-000054.md) |
| Total liabilities | $m | [1,891](/filings/0001477333-23-000064.md) | [1,997](/filings/0001477333-25-000043.md) | [2,004](/filings/0001477333-24-000050.md) | [2,035](/filings/0001477333-24-000070.md) | [2,090](/filings/0001477333-24-000085.md) | [2,255](/filings/0001477333-26-000016.md) | [2,295](/filings/0001477333-25-000082.md) | [4,323](/filings/0001477333-25-000137.md) | [4,439](/filings/0001477333-25-000141.md) | [4,577](/filings/0001477333-26-000054.md) | [4,637](/filings/0001477333-26-000038.md) | [4,854](/filings/0001477333-26-000054.md) |
| Current portion of debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $m | [699](/filings/0001477333-24-000085.md) | [763](/filings/0001477333-26-000016.md) | [797](/filings/0001477333-25-000137.md) | [882](/filings/0001477333-25-000141.md) | [973](/filings/0001477333-25-000141.md) | [1,046](/filings/0001477333-26-000054.md) | [1,426](/filings/0001477333-26-000054.md) | [1,240](/filings/0001477333-26-000054.md) | [1,347](/filings/0001477333-25-000141.md) | [1,459](/filings/0001477333-26-000054.md) | [1,527](/filings/0001477333-26-000054.md) | [1,620](/filings/0001477333-26-000054.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Current portion of debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [68.1 d](/filings/0001477333-24-000085.md) | [85.4 d](/filings/0001477333-26-000016.md) | [73.6](/filings/0001477333-25-000082.md) | [74.8 d](/filings/0001477333-25-000137.md) | [105 d](/filings/0001477333-25-000141.md) | [127 d](/filings/0001477333-26-000016.md) | [146](/filings/0001477333-26-000038.md) | [99.8 d](/filings/0001477333-26-000054.md) | [167 d](/filings/0001477333-25-000141.md) | [190 d](/filings/0001477333-26-000016.md) | [158](/filings/0001477333-26-000038.md) | [118 d](/filings/0001477333-26-000054.md) |
| Capital expenditure | $m | [27.3 d](/filings/0001477333-24-000085.md) | [30.8 d](/filings/0001477333-26-000016.md) | [32.1](/filings/0001477333-25-000082.md) | [29.6 d](/filings/0001477333-25-000137.md) | [50.2 d](/filings/0001477333-25-000141.md) | [73.2 d](/filings/0001477333-26-000016.md) | [85.9](/filings/0001477333-26-000038.md) | [59.9 d](/filings/0001477333-26-000054.md) | [84.6 d](/filings/0001477333-25-000141.md) | [85.2 d](/filings/0001477333-26-000016.md) | [65.2](/filings/0001477333-26-000038.md) | [50.0 d](/filings/0001477333-26-000054.md) |
| Share repurchases | $m | [0.0 d](/filings/0001477333-24-000085.md) | [0.0 d](/filings/0001477333-26-000016.md) | not reported | not reported | [0.0 d](/filings/0001477333-24-000085.md) | [0.0 d](/filings/0001477333-26-000016.md) | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [327](/filings/0001477333-23-000064.md) | [330](/filings/0001477333-24-000050.md) | [332](/filings/0001477333-24-000070.md) | [335](/filings/0001477333-24-000085.md) | [339](/filings/0001477333-25-000082.md) | [341](/filings/0001477333-25-000137.md) | [342](/filings/0001477333-25-000141.md) | [346](/filings/0001477333-26-000038.md) | [347](/filings/0001477333-26-000054.md) | [349](/filings/0001477333-25-000141.md) | [353](/filings/0001477333-26-000038.md) | [354](/filings/0001477333-26-000054.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

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