Cloudflare Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	2,329	2,168	1,670	1,297	975.24	656.43
Revenue Growth (YoY)	31.55%	29.85%	28.75%	32.97%	48.57%	52.28%
Cost of Revenue	621.11	552.53	378.7	307.01	232.61	147.13
Gross Profit	1,708	1,615	1,291	989.74	742.63	509.29
Selling, General & Admin	1,375	1,310	1,024	817.08	645.53	447.57
Research & Development	548.37	512.49	421.37	358.14	298.3	189.41
Total Operating Expenses	1,923	1,823	1,446	1,175	943.83	636.98
Operating Income	-215.95	-207.21	-154.76	-185.49	-201.2	-127.68
Interest Income	149.99	131.22	87.43	68.17	14.88	1.97
Interest Expense	-9.89	-8.77	-5.2	-5.87	-4.98	-49.23
Other Non-Operating Income (Expense)	-1.5	-7.95	1.66	-54.67	0.58	-73.03
Total Non-Operating Income (Expense)	138.6	114.5	83.89	7.62	10.47	-120.29
Pretax Income	-77.35	-92.71	-70.87	-177.86	-190.73	-247.98
Provision for Income Taxes	9.39	9.56	7.93	6.09	2.65	12.33
Net Income	-86.74	-102.27	-78.8	-183.95	-193.38	-260.31
Net Income to Common	-86.74	-102.27	-78.8	-183.95	-193.38	-260.31
Shares Outstanding (Basic)	350	348	341	334	326	312
Shares Outstanding (Diluted)	350	348	341	334	326	312
Shares Change (YoY)	2.02%	2.05%	2.32%	2.24%	4.49%	4.18%
EPS (Basic)	-0.25	-0.29	-0.23	-0.55	-0.59	-0.83
EPS (Diluted)	-0.25	-0.29	-0.23	-0.55	-0.59	-0.83
Shares Outstanding	353.37	351.89	344.86	337.53	330.09	323.61
Free Cash Flow	320.7	287.5	195.39	140.01	-20.01	-28.34
Free Cash Flow Growth	11.55%	47.14%	39.56%	-	-	-
Free Cash Flow Per Share	0.92	0.83	0.57	0.42	-0.06	-0.09
Gross Margin	73.33%	74.51%	77.32%	76.33%	76.15%	77.59%
Operating Margin	-9.27%	-9.56%	-9.27%	-14.30%	-20.63%	-19.45%
Profit Margin	-3.72%	-4.72%	-4.72%	-14.19%	-19.83%	-39.66%
FCF Margin	13.77%	13.26%	11.70%	10.80%	-2.05%	-4.32%
EBITDA	107.37	91.23	54.74	16.23	-49.09	14.36
EBITDA Margin	4.61%	4.21%	3.28%	1.25%	-5.03%	2.19%
EBIT	-215.95	-207.21	-154.76	-185.49	-201.2	-127.68
EBIT Margin	-9.27%	-9.56%	-9.27%	-14.30%	-20.63%	-19.45%
Effective Tax Rate	-12.14%	-10.31%	-11.19%	-3.42%	-1.39%	-4.97%

Updated May 8, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q