Cloudflare Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,168	1,670	1,297	975.24	656.43
Revenue Growth (YoY)	29.85%	28.75%	32.97%	48.57%	52.28%
Cost of Revenue	552.53	378.7	307.01	232.61	147.13
Gross Profit	1,615	1,291	989.74	742.63	509.29
Selling, General & Admin	1,310	1,024	817.08	645.53	447.57
Research & Development	512.49	421.37	358.14	298.3	189.41
Total Operating Expenses	1,823	1,446	1,175	943.83	636.98
Operating Income	-207.21	-154.76	-185.49	-201.2	-127.68
Interest Income	131.22	87.43	68.17	14.88	1.97
Interest Expense	-8.77	-5.2	-5.87	-4.98	-49.23
Other Non-Operating Income (Expense)	-7.95	1.66	-54.67	0.58	-73.03
Total Non-Operating Income (Expense)	114.5	83.89	7.62	10.47	-120.29
Pretax Income	-92.71	-70.87	-177.86	-190.73	-247.98
Provision for Income Taxes	9.56	7.93	6.09	2.65	12.33
Net Income	-102.27	-78.8	-183.95	-193.38	-260.31
Net Income to Common	-102.27	-78.8	-183.95	-193.38	-260.31
Shares Outstanding (Basic)	348	341	334	326	312
Shares Outstanding (Diluted)	348	341	334	326	312
Shares Change (YoY)	2.05%	2.32%	2.24%	4.49%	4.18%
EPS (Basic)	-0.29	-0.23	-0.55	-0.59	-0.83
EPS (Diluted)	-0.29	-0.23	-0.55	-0.59	-0.83
Shares Outstanding	351.89	344.86	337.53	330.09	323.61
Free Cash Flow	287.5	195.39	140.01	-20.01	-28.34
Free Cash Flow Growth	47.14%	39.56%	-	-	-
Free Cash Flow Per Share	0.83	0.57	0.42	-0.06	-0.09
Gross Margin	74.51%	77.32%	76.32%	76.15%	77.59%
Operating Margin	-9.56%	-9.27%	-14.30%	-20.63%	-19.45%
Profit Margin	-4.72%	-4.72%	-14.19%	-19.83%	-39.66%
FCF Margin	13.26%	11.70%	10.80%	-2.05%	-4.32%
EBITDA	91.23	54.74	16.23	-49.09	14.36
EBITDA Margin	4.21%	3.28%	1.25%	-5.03%	2.19%
EBIT	-207.21	-154.76	-185.49	-201.2	-127.68
EBIT Margin	-9.56%	-9.27%	-14.30%	-20.63%	-19.45%
Effective Tax Rate	-10.31%	-11.19%	-3.42%	-1.39%	-4.97%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q