Cloudflare, Inc. (NET)
Q3-CY2026Q2-CY2026Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014
Balance Sheet Date2026-Mar-312025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-30
Fiscal PeriodQ1-FY2026Q4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019
Total Revenue639,755,000$614,507,000$562,027,000$512,316,000$479,087,000$459,946,000$430,082,000$400,996,000$378,602,000$362,473,000$335,603,000$308,494,000$290,175,000$274,700,000$253,857,000$234,517,000$212,167,000$193,596,000$172,347,000$152,428,000$138,055,000$125,926,000$114,162,000$99,721,000$91,250,000$83,930,000$73,941,000$67,424,000$61,727,000$55,499,000$50,070,000$
QoQ%4.11%9.34%9.70%6.94%4.16%6.94%7.25%5.92%4.45%8.01%8.79%6.31%5.63%8.21%8.25%10.53%9.59%12.33%13.07%10.41%9.63%10.31%14.48%9.28%8.72%13.51%9.67%9.23%11.22%10.84%
YoY%33.54%33.60%30.68%27.76%26.54%26.89%28.15%29.99%30.47%31.95%32.20%31.54%36.77%41.89%47.29%53.85%53.68%53.74%50.97%52.85%51.29%50.04%54.40%47.90%47.83%51.23%47.68%
Cost Of Revenue184,158,000$161,956,000$146,316,000$128,677,000$115,576,000$108,686,000$95,967,000$89,011,000$85,038,000$83,283,000$78,069,000$75,221,000$70,432,000$67,788,000$61,967,000$55,804,000$47,051,000$42,496,000$37,525,000$35,029,000$32,084,000$29,065,000$27,005,000$24,164,000$20,821,000$18,198,000$16,033,000$14,832,000$14,360,000$12,956,000$11,209,000$
Gross Profit455,597,000$452,551,000$415,711,000$383,639,000$363,511,000$351,260,000$334,115,000$311,985,000$293,564,000$279,190,000$257,534,000$233,273,000$219,743,000$206,912,000$191,890,000$178,713,000$165,116,000$151,100,000$134,822,000$117,399,000$105,971,000$96,861,000$87,157,000$75,557,000$70,429,000$65,732,000$57,908,000$52,592,000$47,367,000$42,543,000$38,861,000$
Gross Margin71.21%73.65%73.97%74.88%75.88%76.37%77.69%77.80%77.54%77.02%76.74%75.62%75.73%75.32%75.59%76.21%77.82%78.05%78.23%77.02%76.76%76.92%76.35%75.77%77.18%78.32%78.32%78.00%76.74%76.66%77.61%
Operating Expenses517,591,000$501,785,000$453,171,000$450,903,000$416,758,000$385,979,000$364,909,000$346,683,000$348,114,000$322,019,000$296,746,000$289,445,000$267,015,000$257,603,000$237,837,000$243,254,000$205,140,000$192,164,000$161,316,000$146,271,000$137,225,000$121,602,000$108,409,000$100,261,000$106,500,000$95,674,000$98,994,000$72,363,000$64,514,000$59,636,000$75,329,000$
Operating Income(61,994,000$)(49,234,000$)(37,460,000$)(67,264,000$)(53,247,000$)(34,719,000$)(30,794,000$)(34,698,000$)(54,550,000$)(42,829,000$)(39,212,000$)(56,172,000$)(47,272,000$)(50,691,000$)(45,947,000$)(64,541,000$)(40,024,000$)(41,064,000$)(26,494,000$)(28,872,000$)(31,254,000$)(24,741,000$)(21,252,000$)(24,704,000$)(36,071,000$)(29,942,000$)(41,086,000$)(19,771,000$)(17,147,000$)(17,093,000$)(36,468,000$)
Operating Margin(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%)(18.10%)(27.52%)(18.86%)(21.21%)(15.37%)(18.94%)(22.64%)(19.65%)(18.62%)(24.77%)(39.53%)(35.68%)(55.57%)(29.32%)(27.78%)(30.80%)(72.83%)
Interest Income
Interest Expenses1,100,000$1,069,000$1,138,000$1,539,000$2,126,000$875,000$1,512,000$1,040,000$1,557,000$16,108,000$12,448,000$10,444,000$10,234,000$10,062,000$9,828,000$5,007,000$67,000$142,000$407,000$290,000$273,000$266,000$251,000$
Income Before Tax(21,401,000$)(10,508,000$)1,850,000$(47,289,000$)(36,759,000$)(10,843,000$)(12,822,000$)(13,932,000$)(33,274,000$)(25,811,000$)(22,281,000$)(93,002,000$)(36,768,000$)(44,845,000$)(41,174,000$)(63,707,000$)(41,007,000$)(56,930,000$)(110,430,000$)(39,820,000$)(40,796,000$)(33,844,000$)(29,972,000$)(28,073,000$)(33,084,000$)(27,531,000$)(41,065,000$)(19,317,000$)(16,800,000$)(16,499,000$)(37,572,000$)
Tax Expenses1,526,000$1,569,000$3,140,000$3,157,000$1,695,000$2,005,000$2,509,000$1,146,000$2,269,000$2,054,000$1,254,000$1,465,000$1,314,000$1,072,000$1,372,000$(170,000$)374,000$20,571,000$(3,095,000$)(4,310,000$)(833,000$)177,000$(3,504,000$)(1,938,000$)(338,000$)624,000$(212,000$)389,000$314,000$188,000$417,000$
Net Income(22,927,000$)(12,077,000$)(1,290,000$)(50,446,000$)(38,454,000$)(12,848,000$)(15,331,000$)(15,078,000$)(35,543,000$)(27,865,000$)(23,535,000$)(94,467,000$)(38,082,000$)(45,917,000$)(42,546,000$)(63,537,000$)(41,381,000$)(77,501,000$)(107,335,000$)(35,510,000$)(39,963,000$)(34,021,000$)(26,468,000$)(26,135,000$)(32,746,000$)(28,155,000$)(40,853,000$)(19,706,000$)(17,114,000$)(16,687,000$)(37,989,000$)
Profit Margin(3.58%)(1.97%)(.23%)(9.85%)(8.03%)(2.79%)(3.57%)(3.76%)(9.39%)(7.69%)(7.01%)(30.62%)(13.12%)(16.72%)(16.76%)(27.09%)(19.50%)(40.03%)(62.28%)(23.30%)(28.95%)(27.02%)(23.19%)(26.21%)(35.89%)(33.55%)(55.25%)(29.23%)(27.73%)(30.07%)(75.87%)
TTM(3.73%)(4.72%)(5.12%)(6.22%)(4.62%)(4.72%)(5.97%)(6.90%)(13.10%)(14.19%)(16.71%)(19.61%)(18.05%)(19.83%)(25.16%)(35.66%)(35.83%)(39.66%)(36.83%)(25.63%)(26.49%)(27.69%)(29.17%)(36.66%)(38.37%)(36.87%)(36.49%)(38.98%)
Earnings to Minority
Earnings to Common Shareholders(22,927,000$)(12,077,000$)(1,290,000$)(50,446,000$)(38,454,000$)(12,848,000$)(15,331,000$)(15,078,000$)(35,543,000$)(27,865,000$)(23,535,000$)(94,467,000$)(38,082,000$)(45,917,000$)(42,546,000$)(63,537,000$)(41,381,000$)(77,501,000$)(107,335,000$)(35,510,000$)(39,963,000$)(34,021,000$)(26,468,000$)(26,135,000$)(32,746,000$)(28,155,000$)(40,853,000$)(19,706,000$)(17,114,000$)(16,687,000$)(37,989,000$)
QoQ%(89.84%)(836.20%)97.44%(31.19%)(199.30%)16.20%(1.68%)57.58%(27.55%)(18.40%)75.09%(148.06%)17.06%(7.92%)33.04%(53.54%)46.61%27.80%(202.27%)11.14%(17.47%)(28.54%)(1.27%)20.19%(16.31%)31.08%(107.31%)(15.15%)(2.56%)56.07%
YoY%40.38%6.00%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%)(127.80%)(305.53%)(35.87%)(22.04%)(20.84%)35.21%(32.63%)(91.34%)(68.72%)(7.54%)
Earnings Per Share, Basic(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$)(0.12$)(0.13$)(0.11$)(0.09$)(0.09$)(0.11$)(0.09$)(0.35$)(0.23$)(0.20$)(0.47$)
Earnings Per Share, Diluted(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$)(0.12$)(0.13$)(0.11$)(0.09$)(0.09$)(0.11$)(0.09$)(0.35$)(0.23$)(0.20$)(0.47$)
Unlevered FCF Per Share, Basic0.26$0.30$0.24$0.11$0.17$0.16$0.16$0.13$0.12$0.16$0.12$0.08$0.06$0.12$0.00$0.00$(0.19$)0.04$(0.11$)(0.02$)0.00$(0.06$)(0.04$)(0.05$)(0.09$)(0.07$)(0.15$)(0.22$)
Unlevered FCF Per Share, Diluted0.26$0.30$0.24$0.11$0.17$0.16$0.16$0.13$0.12$0.16$0.12$0.08$0.06$0.12$0.00$0.00$(0.19$)0.04$(0.11$)(0.02$)0.00$(0.06$)(0.04$)(0.05$)(0.09$)(0.07$)(0.15$)(0.22$)
Average Shares, Basic352,625,000351,160,000349,312,000347,489,000345,723,000344,057,000342,356,000340,648,000338,583,000337,272,000334,666,000332,297,000330,389,000330,207,000326,590,000325,197,000323,334,000320,531,000314,543,000308,263,000305,947,000302,009,000301,689,000299,321,000296,077,000296,407,000118,056,00085,683,00085,078,00081,579,000
Average Shares, Diluted352,625,000351,160,000349,312,000347,489,000345,723,000344,057,000342,356,000340,648,000338,583,000337,272,000334,666,000332,297,000330,389,000330,207,000326,590,000325,197,000323,334,000320,531,000314,543,000308,263,000305,947,000302,009,000301,689,000299,321,000296,077,000296,407,000118,056,00085,683,00085,078,00081,579,000
EBIT(21,401,000$)(10,508,000$)1,850,000$(47,289,000$)(36,759,000$)(10,843,000$)(12,822,000$)(13,932,000$)(32,174,000$)(24,742,000$)(21,143,000$)(91,463,000$)(34,642,000$)(43,970,000$)(39,662,000$)(62,667,000$)(39,450,000$)(40,822,000$)(97,982,000$)(29,376,000$)(30,562,000$)(23,782,000$)(20,144,000$)(23,066,000$)(33,017,000$)(27,389,000$)(40,658,000$)(19,027,000$)(16,527,000$)(16,233,000$)(37,321,000$)
EBITDA36,413,000$42,078,000$51,318,000$(1,808,000$)5,448,000$25,403,000$18,887,000$15,723,000$(2,062,000$)11,438,000$13,315,000$(57,790,000$)(3,133,000$)(14,337,000$)(12,312,000$)(37,329,000$)(19,436,000$)(22,490,000$)(80,952,000$)(13,349,000$)(15,344,000$)(9,424,000$)(7,228,000$)(11,516,000$)(22,454,000$)(18,833,000$)(40,658,000$)(12,037,000$)(10,357,000$)(10,725,000$)(37,321,000$)