NET
Cloudflare, Inc.
Stock
$349.07−1.93 (−0.55%)Close Oct 2, 2026
Income statement
| Line | Last 12 months | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B | $2.2B | $1.7B | $1.3B | $975M | $656M | $431M | $287M | $193M | $135M |
| Cost of revenue | $689M | $553M | $379M | $307M | $233M | $147M | $101M | $63M | $44M | $29M |
| Gross profit | $1.8B | $1.6B | $1.3B | $990M | $743M | $509M | $330M | $224M | $149M | $106M |
| R&D | $573M | $512M | $421M | $358M | $298M | $189M | $127M | $91M | $54M | $34M |
| SG&A | $1.5B | $1.3B | $1.0B | $817M | $646M | $448M | $310M | $241M | $180M | $82M |
| Other operating expenses | $151M | — | — | — | — | — | — | — | — | — |
| Operating income | −$354M | −$207M | −$155M | −$185M | −$201M | −$128M | −$107M | −$108M | −$85M | −$9.7M |
| Non-operating income | $156M | $114M | $84M | $7.6M | $10M | −$120M | −$18M | $3.2M | −$1.2M | $15K |
| Pretax income | −$198M | −$93M | −$71M | −$178M | −$191M | −$248M | −$125M | −$105M | −$86M | −$9.7M |
| Taxes | $8.3M | $9.6M | $7.9M | $6.1M | $2.6M | $12M | −$5.6M | $1.1M | $1.1M | $1.0M |
| Net income | −$206M | −$102M | −$79M | −$184M | −$193M | −$260M | −$119M | −$106M | −$87M | −$11M |
| Diluted EPS | −$0.58 | −$0.29 | −$0.23 | −$0.55 | −$0.59 | −$0.83 | −$0.40 | −$0.72 | −$1.08 | −$0.14 |
| Diluted shares | — | 348.4M | 341.4M | 333.7M | 326.3M | 312.3M | 299.8M | 146.3M | 81.0M | 77.1M |
| Revenue growth | — | +29.8% | +28.8% | +33.0% | +48.6% | +52.3% | +50.2% | +49.0% | +42.8% | — |
| Gross margin | 72.6% | 74.5% | 77.3% | 76.3% | 76.1% | 77.6% | 76.6% | 77.9% | 77.4% | 78.7% |
| Operating margin | −14.1% | −9.6% | −9.3% | −14.3% | −20.6% | −19.5% | −24.8% | −37.6% | −44.1% | −7.2% |
| Net margin | −8.2% | −4.7% | −4.7% | −14.2% | −19.8% | −39.7% | −27.7% | −36.9% | −45.2% | −8.0% |