Cloudflare, Inc. (NET)

Cloudflare Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	2,013	1,670	1,297	975.24	656.43	431.06
Revenue Growth (YoY)	28.07%	28.75%	32.97%	48.57%	52.28%	50.18%
Cost of Revenue	499.26	378.7	307.01	232.61	147.13	101.06
Gross Profit	1,514	1,291	989.74	742.63	509.29	330
Selling, General & Admin	1,215	1,009	817.08	641.58	447.19	303.35
Research & Development	490.82	421.37	358.14	298.3	189.41	127.14
Operating Expenses	1,706	1,430	1,175	939.89	636.6	430.49
Operating Income	-191.99	-139.06	-185.49	-197.26	-127.3	-100.49
Interest Expense	-7.32	-5.2	-5.87	-4.98	-49.23	-24.96
Interest & Investment Income	111.32	87.43	68.17	14.88	1.97	6.59
Currency Exchange Gain (Loss)	-	-	-	-	-	-0.9
Other Non Operating Income (Expenses)	-4.35	1.66	-4.37	0.58	-0.79	1.07
EBT Excluding Unusual Items	-92.34	-55.17	-127.56	-186.79	-175.36	-118.69
Merger & Restructuring Charges	-0.7	-0.7	-	-3.95	-0.38	-6.28
Other Unusual Items	-	-15	-50.3	-	-72.23	-
Pretax Income	-93.04	-70.87	-177.86	-190.73	-247.98	-124.97
Income Tax Expense	10	7.93	6.09	2.65	12.33	-5.6
Net Income	-103.04	-78.8	-183.95	-193.38	-260.31	-119.37
Net Income to Common	-103.04	-78.8	-183.95	-193.38	-260.31	-119.37
Shares Outstanding (Basic)	347	341	334	326	312	300
Shares Outstanding (Diluted)	347	341	334	326	312	300
Shares Change (YoY)	2.07%	2.32%	2.24%	4.49%	4.18%	104.90%
EPS (Basic)	-0.30	-0.23	-0.55	-0.59	-0.83	-0.40
EPS (Diluted)	-0.30	-0.23	-0.55	-0.59	-0.83	-0.40
Free Cash Flow	236.43	195.39	140.01	-20.01	-28.34	-73.5
Free Cash Flow Per Share	0.68	0.57	0.42	-0.06	-0.09	-0.24
Gross Margin	75.20%	77.32%	76.33%	76.15%	77.59%	76.56%
Operating Margin	-9.54%	-8.33%	-14.30%	-20.23%	-19.39%	-23.31%
Profit Margin	-5.12%	-4.72%	-14.19%	-19.83%	-39.66%	-27.69%
Free Cash Flow Margin	11.74%	11.70%	10.80%	-2.05%	-4.32%	-17.05%
EBITDA	-48.69	-36.04	-71.17	-115.12	-81.54	-66.78
EBITDA Margin	-2.42%	-2.16%	-5.49%	-11.80%	-12.42%	-15.49%
D&A For EBITDA	143.3	103.02	114.32	82.14	45.76	33.71
EBIT	-191.99	-139.06	-185.49	-197.26	-127.3	-100.49
EBIT Margin	-9.54%	-8.33%	-14.30%	-20.23%	-19.39%	-23.31%
Advertising Expenses	-	78.6	57.6	43.5	36.2	25

Updated Oct 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q