Cloudflare, Inc. (NET) quarterly income statement — complete revenue, gross profit & net income history
Cloudflare, Inc. (NET) annual income statement — 9-year revenue, gross profit & net income history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Sales/Revenue | 696.06M | 639.75M | 614.51M | 562.03M | 512.32M | 479.09M | 459.95M | 430.08M | 401M | 378.6M | 362.47M | 335.6M | 308.49M | 290.18M | 274.7M | 253.86M | 234.52M | 212.17M | 193.6M | 172.35M |
| Revenue Growth % | 35.87% | 33.54% | 33.6% | 30.68% | 27.76% | 26.54% | 26.89% | 28.15% | 29.98% | 30.47% | 31.95% | 32.2% | 31.54% | 36.77% | 41.89% | 47.29% | 53.85% | 53.68% | 53.74% | 50.97% |
| Cost of Goods Sold | 196.54M | 184.16M | 161.96M | 146.32M | 128.68M | 115.58M | 108.69M | 95.97M | 89.01M | 85.04M | 83.28M | 78.07M | 75.22M | 70.43M | 67.79M | 61.97M | 55.8M | 47.05M | 42.5M | 37.52M |
| COGS % of Revenue | 28.24% | 28.79% | 26.36% | 26.03% | 25.12% | 24.12% | 23.63% | 22.31% | 22.2% | 22.46% | 22.98% | 23.26% | 24.38% | 24.27% | 24.68% | 24.41% | 23.8% | 22.18% | 21.95% | 21.77% |
| Gross Profit | 499.52M | 455.6M | 452.55M | 415.71M | 383.64M | 363.51M | 351.26M | 334.12M | 311.99M | 293.56M | 279.19M | 257.53M | 233.27M | 219.74M | 206.91M | 191.89M | 178.71M | 165.12M | 151.1M | 134.82M |
| Gross Margin % | 71.76% | 71.21% | 73.64% | 73.97% | 74.88% | 75.88% | 76.37% | 77.69% | 77.8% | 77.54% | 77.02% | 76.74% | 75.62% | 75.73% | 75.32% | 75.59% | 76.2% | 77.82% | 78.05% | 78.23% |
| Gross Profit Growth % | 30.2% | 25.33% | 28.84% | 24.42% | 22.97% | 23.83% | 25.81% | 29.74% | 33.74% | 33.59% | 34.93% | 34.21% | 30.53% | 33.08% | 36.94% | 42.33% | 52.23% | 55.81% | 56% | 54.69% |
| Operating Expenses | 705.21M | 517.59M | 501.79M | 453.17M | 450.9M | 416.76M | 385.98M | 364.91M | 346.68M | 348.11M | 322.02M | 296.75M | 289.44M | 267.01M | 257.6M | 237.84M | 241.95M | 202.5M | 191.78M | 161.32M |
| OpEx % of Revenue | 101.31% | 80.9% | 81.66% | 80.63% | 88.01% | 86.99% | 83.92% | 84.85% | 86.46% | 91.95% | 88.84% | 88.42% | 93.83% | 92.02% | 93.78% | 93.69% | 103.17% | 95.44% | 99.06% | 93.6% |
| Selling, General & Admin | 395.03M | 366.62M | 359.9M | 332.21M | 316.35M | 301.67M | 265.77M | 254M | 244.14M | 260.41M | 225.62M | 206.15M | 199.84M | 185.48M | 177.9M | 161.41M | 166.83M | 135.45M | 130.02M | 114.55M |
| SG&A % of Revenue | 56.75% | 57.31% | 58.57% | 59.11% | 61.75% | 62.97% | 57.78% | 59.06% | 60.88% | 68.78% | 62.24% | 61.43% | 64.78% | 63.92% | 64.76% | 63.58% | 71.14% | 63.84% | 67.16% | 66.46% |
| Research & Development | 159.49M | 150.97M | 141.89M | 120.96M | 134.56M | 115.09M | 120.21M | 110.91M | 102.55M | 87.7M | 96.4M | 90.59M | 89.61M | 81.54M | 79.7M | 76.43M | 75.11M | 67.05M | 61.76M | 46.77M |
| R&D % of Revenue | 22.91% | 23.6% | 23.09% | 21.52% | 26.26% | 24.02% | 26.14% | 25.79% | 25.57% | 23.16% | 26.6% | 26.99% | 29.05% | 28.1% | 29.01% | 30.11% | 32.03% | 31.6% | 31.9% | 27.14% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -205.7M | -61.99M | -49.23M | -37.46M | -67.26M | -53.25M | -34.72M | -30.79M | -34.7M | -54.55M | -42.83M | -39.21M | -56.17M | -47.27M | -50.69M | -45.95M | -63.23M | -37.38M | -40.68M | -26.49M |
| Operating Margin % | -29.55% | -9.69% | -8.01% | -6.67% | -13.13% | -11.11% | -7.55% | -7.16% | -8.65% | -14.41% | -11.82% | -11.68% | -18.21% | -16.29% | -18.45% | -18.1% | -26.96% | -17.62% | -21.01% | -15.37% |
| Operating Income Growth % | -205.8% | -16.43% | -41.81% | -21.65% | -93.86% | 2.39% | 18.94% | 21.47% | 38.23% | -15.4% | 15.51% | 14.66% | 11.17% | -26.45% | -24.6% | -73.42% | -119.01% | -19.62% | -64.44% | -24.67% |
| EBITDA | -140.34M | -4.18M | 3.35M | 12.01M | -21.78M | -11.04M | 1.53M | 915K | -5.04M | -24.44M | -6.65M | -5.31M | -7.97M | -2.46M | -8.7M | -7.35M | -27.78M | -8.32M | -14.21M | -1.92M |
| EBITDA Margin % | -20.16% | -0.65% | 0.55% | 2.14% | -4.25% | -2.3% | 0.33% | 0.21% | -1.26% | -6.45% | -1.83% | -1.58% | -2.58% | -0.85% | -3.17% | -2.89% | -11.84% | -3.92% | -7.34% | -1.11% |
| EBITDA Growth % | -544.26% | 62.14% | 119.52% | 1212.35% | -331.95% | 54.82% | 122.97% | 117.23% | 36.73% | -892.2% | 23.53% | 27.69% | 71.31% | 70.41% | 38.79% | -282.41% | -346.79% | 20.69% | -160.55% | 49.83% |
| D&A (Non-Cash Add-back) | 65.36M | 57.81M | 52.59M | 49.47M | 45.48M | 42.21M | 36.25M | 31.71M | 29.66M | 30.11M | 36.18M | 33.9M | 48.2M | 44.81M | 42M | 38.6M | 35.46M | 29.06M | 26.48M | 24.57M |
| EBIT | -164.85M | -18.84M | -7.62M | 4.76M | -45.77M | -35.32M | -9.4M | -11.39M | -12.71M | -32.17M | -24.74M | -21.14M | -91.46M | -34.64M | -43.97M | -39.66M | -62.67M | -39.45M | -40.82M | -97.98M |
| Net Interest Income | 36.84M | 37.6M | 39M | 39.62M | 23.88M | 19.96M | 20.54M | 21.04M | 20.5M | 20.15M | 19.12M | 16.82M | 15M | 11.36M | 7.45M | 2.34M | 601K | -496K | -15.44M | -12.06M |
| Interest Income | 39.93M | 40.17M | 41.88M | 42.53M | 25.41M | 21.4M | 21.99M | 22.47M | 21.71M | 21.25M | 20.19M | 17.95M | 16.54M | 13.49M | 8.32M | 3.85M | 1.64M | 1.06M | 668K | 385K |
| Interest Expense | 3.09M | 2.56M | 2.89M | 2.91M | 1.52M | 1.44M | 1.45M | 1.43M | 1.22M | 1.1M | 1.07M | 1.14M | 1.54M | 2.13M | 875K | 1.51M | 1.04M | 1.56M | 16.11M | 12.45M |
| Other Income/Expense | 37.76M | 40.59M | 38.73M | 39.31M | 19.98M | 16.49M | 23.88M | 17.97M | 20.77M | 21.28M | 17.02M | 16.93M | -36.83M | 10.5M | 5.85M | 4.77M | -474K | -3.62M | -16.25M | -83.94M |
| Pretax Income | -167.94M | -21.4M | -10.51M | 1.85M | -47.29M | -36.76M | -10.84M | -12.82M | -13.93M | -33.27M | -25.81M | -22.28M | -93M | -36.77M | -44.84M | -41.17M | -63.71M | -41.01M | -56.93M | -110.43M |
| Pretax Margin % | -24.13% | -3.35% | -1.71% | 0.33% | -9.23% | -7.67% | -2.36% | -2.98% | -3.47% | -8.79% | -7.12% | -6.64% | -30.15% | -12.67% | -16.33% | -16.22% | -27.17% | -19.33% | -29.41% | -64.07% |
| Income Tax | 2.04M | 1.53M | 1.57M | 3.14M | 3.16M | 1.7M | 2M | 2.51M | 1.15M | 2.27M | 2.05M | 1.25M | 1.47M | 1.31M | 1.07M | 1.37M | -170K | 374K | 20.57M | -3.1M |
| Effective Tax Rate % | -1.22% | -7.13% | -14.93% | 169.73% | -6.68% | -4.61% | -18.49% | -19.57% | -8.23% | -6.82% | -7.96% | -5.63% | -1.58% | -3.57% | -2.39% | -3.33% | 0.27% | -0.91% | -36.13% | 2.8% |
| Net Income | -169.98M | -22.93M | -12.08M | -1.29M | -50.45M | -38.45M | -12.85M | -15.33M | -15.08M | -35.54M | -27.86M | -23.54M | -94.47M | -38.08M | -45.92M | -42.55M | -63.54M | -41.38M | -77.5M | -107.33M |
| Net Margin % | -24.42% | -3.58% | -1.97% | -0.23% | -9.85% | -8.03% | -2.79% | -3.56% | -3.76% | -9.39% | -7.69% | -7.01% | -30.62% | -13.12% | -16.72% | -16.76% | -27.09% | -19.5% | -40.03% | -62.28% |
| Net Income Growth % | -236.96% | 40.38% | 6% | 91.59% | -234.57% | -8.19% | 53.89% | 34.86% | 84.04% | 6.67% | 39.31% | 44.68% | -48.68% | 7.97% | 40.75% | 60.36% | -78.93% | -3.55% | -127.8% | -305.53% |
| Net Income (Continuing) | -169.98M | -22.93M | -12.08M | -1.29M | -50.45M | -38.45M | -12.85M | -15.33M | -15.08M | -35.54M | -27.86M | -23.54M | -94.47M | -38.08M | -45.92M | -42.55M | -63.54M | -41.38M | -77.5M | -107.33M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.48 | -0.07 | -0.03 | -0.00 | -0.15 | -0.11 | -0.04 | -0.04 | -0.04 | -0.10 | -0.08 | -0.07 | -0.28 | -0.12 | -0.14 | -0.13 | -0.20 | -0.13 | -0.24 | -0.34 |
| EPS Growth % | -230.58% | 40.91% | 7.77% | 91.74% | -227.77% | -10% | 54.95% | 36.27% | 84.18% | 16.67% | 40.86% | 45.92% | -40% | 7.69% | 41.67% | 61.76% | -66.67% | 0% | -118.18% | -287.69% |
| EPS (Basic) | -0.48 | -0.07 | -0.03 | -0.00 | -0.15 | -0.11 | -0.04 | -0.04 | -0.04 | -0.10 | -0.08 | -0.07 | -0.28 | -0.12 | -0.14 | -0.13 | -0.20 | -0.13 | -0.24 | -0.34 |
| Diluted Shares Outstanding | 354.33M | 352.63M | 351.09M | 342.36M | 347.49M | 345.72M | 344M | 342.36M | 340.65M | 338.58M | 336.58M | 334.67M | 332.3M | 330.39M | 328.33M | 326.59M | 325.2M | 323.33M | 320.33M | 314.54M |
| Basic Shares Outstanding | 354.33M | 352.63M | 351.09M | 342.36M | 347.49M | 345.72M | 344M | 342.36M | 340.65M | 338.58M | 336.58M | 334.67M | 332.3M | 330.39M | 328.33M | 326.59M | 325.2M | 323.33M | 320.33M | 314.54M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |