The Filings Report

Cloudflare

NETNYSECIK 1477333Technology / Softwarefiscal year ends December32 quarters since 2018

Revenue, Q2 FY2026
$696M
+35.9% on Q2 FY2025
Net income
−$170M
−237.0% on Q2 FY2025
Free cash flow
$68M
+69.4% on Q2 FY2025
Diluted EPS
$-0.48
−220.0% on Q2 FY2025
Revenue, TTM
$2.5B
trailing four quarters
Net margin, TTM
-8.2%
net income −$206M
Free cash flow, TTM
$348M
$633M less $285M capex
Cash and equivalents
$1.7B
long-term debt —, Jun 30, 2026
Shares, 12-month change
—
— shares, Jun 30, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
—
no yield
Market value
—
at the close, buybacks

Latest quarter Q2 FY2026, filed August 6, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q2 FY2026, the quarter ended June 30, 2026, Cloudflare reported revenue of $696M, +35.9% on Q2 FY2025, and net loss of $170M (−237.0%). Operating margin was −29.6%. Free cash flow, operating cash flow less capital expenditures, was $68M ($118M less $50M). Diluted earnings per share were $-0.48.

The last 16 quarters

Q3 FY2022 to Q2 FY2026, through the filing of August 6, 2026.

Revenue and net incomeRevenueNet income
−$250M$0$250M$500M$750MQ3'22, Revenue: $254MQ3'22, Net income: −$43MQ3'22Q4'22, Revenue: $275MQ4'22, Net income: −$46MQ4'22Q1'23, Revenue: $290MQ1'23, Net income: −$38MQ1'23Q2'23, Revenue: $308MQ2'23, Net income: −$94MQ2'23Q3'23, Revenue: $336MQ3'23, Net income: −$24MQ3'23Q4'23, Revenue: $362MQ4'23, Net income: −$28MQ4'23Q1'24, Revenue: $379MQ1'24, Net income: −$36MQ1'24Q2'24, Revenue: $401MQ2'24, Net income: −$15MQ2'24Q3'24, Revenue: $430MQ3'24, Net income: −$15MQ3'24Q4'24, Revenue: $460MQ4'24, Net income: −$13MQ4'24Q1'25, Revenue: $479MQ1'25, Net income: −$38MQ1'25Q2'25, Revenue: $512MQ2'25, Net income: −$50MQ2'25Q3'25, Revenue: $562MQ3'25, Net income: −$1MQ3'25Q4'25, Revenue: $615MQ4'25, Net income: −$12MQ4'25Q1'26, Revenue: $640MQ1'26, Net income: −$23MQ1'26Q2'26, Revenue: $696MQ2'26, Net income: −$170MQ2'26−$250M$0$250M$500M$750MQ3'22, Revenue: $254MQ3'22, Net income: −$43MQ4'22, Revenue: $275MQ4'22, Net income: −$46MQ4'22Q1'23, Revenue: $290MQ1'23, Net income: −$38MQ2'23, Revenue: $308MQ2'23, Net income: −$94MQ2'23Q3'23, Revenue: $336MQ3'23, Net income: −$24MQ4'23, Revenue: $362MQ4'23, Net income: −$28MQ4'23Q1'24, Revenue: $379MQ1'24, Net income: −$36MQ2'24, Revenue: $401MQ2'24, Net income: −$15MQ2'24Q3'24, Revenue: $430MQ3'24, Net income: −$15MQ4'24, Revenue: $460MQ4'24, Net income: −$13MQ4'24Q1'25, Revenue: $479MQ1'25, Net income: −$38MQ2'25, Revenue: $512MQ2'25, Net income: −$50MQ2'25Q3'25, Revenue: $562MQ3'25, Net income: −$1MQ4'25, Revenue: $615MQ4'25, Net income: −$12MQ4'25Q1'26, Revenue: $640MQ1'26, Net income: −$23MQ2'26, Revenue: $696MQ2'26, Net income: −$170MQ2'26

Net income losses drawn in red.

Free cash flow
$0$50M$100M$150MQ3'22, Free cash flow: $792KQ3'22Q4'22, Free cash flow: $38MQ4'22Q1'23, Free cash flow: $19MQ1'23Q2'23, Free cash flow: $26MQ2'23Q3'23, Free cash flow: $41MQ3'23Q4'23, Free cash flow: $55MQ4'23Q1'24, Free cash flow: $42MQ1'24Q2'24, Free cash flow: $45MQ2'24Q3'24, Free cash flow: $55MQ3'24Q4'24, Free cash flow: $54MQ4'24Q1'25, Free cash flow: $60MQ1'25Q2'25, Free cash flow: $40MQ2'25Q3'25, Free cash flow: $82MQ3'25Q4'25, Free cash flow: $105MQ4'25Q1'26, Free cash flow: $93MQ1'26Q2'26, Free cash flow: $68MQ2'26$0$50M$100M$150MQ3'22, Free cash flow: $792KQ4'22, Free cash flow: $38MQ4'22Q1'23, Free cash flow: $19MQ2'23, Free cash flow: $26MQ2'23Q3'23, Free cash flow: $41MQ4'23, Free cash flow: $55MQ4'23Q1'24, Free cash flow: $42MQ2'24, Free cash flow: $45MQ2'24Q3'24, Free cash flow: $55MQ4'24, Free cash flow: $54MQ4'24Q1'25, Free cash flow: $60MQ2'25, Free cash flow: $40MQ2'25Q3'25, Free cash flow: $82MQ4'25, Free cash flow: $105MQ4'25Q1'26, Free cash flow: $93MQ2'26, Free cash flow: $68MQ2'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$500M$1.0B$1.5B$2.0BQ3'22, Cash and equivalents: $138MQ3'22Q4'22, Cash and equivalents: $204MQ4'22Q1'23, Cash and equivalents: $256MQ1'23Q2'23, Cash and equivalents: $159MQ2'23Q3'23, Cash and equivalents: $94MQ3'23Q4'23, Cash and equivalents: $87MQ4'23Q1'24, Cash and equivalents: $254MQ1'24Q2'24, Cash and equivalents: $157MQ2'24Q3'24, Cash and equivalents: $183MQ3'24Q4'24, Cash and equivalents: $148MQ4'24Q1'25, Cash and equivalents: $204MQ1'25Q2'25, Cash and equivalents: $1.5BQ2'25Q3'25, Cash and equivalents: $1.1BQ3'25Q4'25, Cash and equivalents: $944MQ4'25Q1'26, Cash and equivalents: $932MQ1'26Q2'26, Cash and equivalents: $1.7BQ2'26$0$500M$1.0B$1.5B$2.0BQ3'22, Cash and equivalents: $138MQ4'22, Cash and equivalents: $204MQ4'22Q1'23, Cash and equivalents: $256MQ2'23, Cash and equivalents: $159MQ2'23Q3'23, Cash and equivalents: $94MQ4'23, Cash and equivalents: $87MQ4'23Q1'24, Cash and equivalents: $254MQ2'24, Cash and equivalents: $157MQ2'24Q3'24, Cash and equivalents: $183MQ4'24, Cash and equivalents: $148MQ4'24Q1'25, Cash and equivalents: $204MQ2'25, Cash and equivalents: $1.5BQ2'25Q3'25, Cash and equivalents: $1.1BQ4'25, Cash and equivalents: $944MQ4'25Q1'26, Cash and equivalents: $932MQ2'26, Cash and equivalents: $1.7BQ2'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q2 FY2026 filed August 6, 2026.

Cloudflare income statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 6, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 26, 2026Q3 FY2025ended Sep 30, 2025filed Oct 30, 2025Q2 FY2025ended Jun 30, 2025filed Jul 31, 2025Q1 FY2025ended Mar 31, 2025filed May 8, 2025Q4 FY2024ended Dec 31, 2024filed Feb 20, 2025Q3 FY2024ended Sep 30, 2024filed Nov 7, 2024YoYQ2 FY2026vs Q2 FY2025
Revenue696640615562512479460430+35.9%
Cost of revenue19718416214612911610996+52.7%
Gross profit500456453416384364351334+30.2%
Research and development159151142121135115120111+18.5%
Selling, general and administrative119951099697887469+22.6%
Operating income(206)(62)(49)(37)(67)(53)(35)(31)−205.8%
Other income (expense)3841393920162418+89.0%
Pretax income(168)(21)(11)2(47)(37)(11)(13)−255.1%
Income tax22233223−35.4%
Net income(170)(23)(12)(1)(50)(38)(13)(15)−237.0%
Diluted EPS ($)(0.48)(0.07)—0.00(0.15)(0.11)—(0.04)−220.0%
Diluted shares (millions)354353—349347346—342—

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q2 FY2026 filed August 6, 2026.

Cloudflare balance sheet, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 6, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 26, 2026Q3 FY2025ended Sep 30, 2025filed Oct 30, 2025Q2 FY2025ended Jun 30, 2025filed Jul 31, 2025Q1 FY2025ended Mar 31, 2025filed May 8, 2025Q4 FY2024ended Dec 31, 2024filed Feb 20, 2025Q3 FY2024ended Sep 30, 2024filed Nov 7, 2024YoYQ2 FY2026vs Q2 FY2025
Cash and equivalents1,6649329441,0531,519204148183+9.6%
Short-term investments2,4993,2323,1582,9912,4411,7101,7081,641+2.4%
Total current assets4,7784,7164,6454,5374,4062,6242,2692,164+8.5%
Total assets6,4746,1646,0365,7865,5623,7213,3013,063+16.4%
Total current liabilities2,6282,4112,3512,223858821794642+206.4%
Long-term debt—————————
Total liabilities4,8544,6374,5774,4394,3232,2952,2552,090+12.3%
Stockholders’ equity1,6201,5271,4591,3471,2401,4261,046973+30.7%
Shares outstanding (millions)—————————

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q2 FY2026 filed August 6, 2026.

Cloudflare cash flow statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 6, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 26, 2026Q3 FY2025ended Sep 30, 2025filed Oct 30, 2025Q2 FY2025ended Jun 30, 2025filed Jul 31, 2025Q1 FY2025ended Mar 31, 2025filed May 8, 2025Q4 FY2024ended Dec 31, 2024filed Feb 20, 2025Q3 FY2024ended Sep 30, 2024filed Nov 7, 2024YoYQ2 FY2026vs Q2 FY2025
Operating cash flow118158190167100146127105+17.8%
Capital expenditures5065858560867350−16.6%
Free cash flow (CFO − capex)68931058240605455+69.4%
Depreciation and amortization6558534945423632+43.7%
Share repurchases——————00—
Dividends paid—————————

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 26, 2026.

Income statement

Cloudflare income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 26, 2026FY2024ended Dec 31, 2024filed Feb 20, 2025FY2023ended Dec 31, 2023filed Feb 21, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Mar 1, 2022FY2020ended Dec 31, 2020filed Feb 25, 2021FY2019ended Dec 31, 2019filed Mar 4, 2020FY2018ended Dec 31, 2018filed Nov 12, 2019FY2017ended Dec 31, 2017filed Nov 12, 2019
Revenue2,1681,6701,297975656431287193135
Cost of revenue553379307233147101634429
Gross profit1,6151,291990743509330224149106
Research and development512421358298189127915434
Selling, general and administrative38927921818012092828520
Operating income(207)(155)(185)(201)(128)(107)(108)(85)(10)
Other income (expense)11484810(120)(18)3(1)0
Pretax income(93)(71)(178)(191)(248)(125)(105)(86)(10)
Income tax1086312(6)111
Net income(102)(79)(184)(193)(260)(119)(106)(87)(11)
Diluted EPS ($)(0.29)(0.23)(0.55)(0.59)(0.83)(0.40)(0.72)——
Diluted shares (millions)348341334326312300146——

Balance sheet

Cloudflare balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 26, 2026FY2024ended Dec 31, 2024filed Feb 20, 2025FY2023ended Dec 31, 2023filed Feb 21, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Mar 1, 2022FY2020ended Dec 31, 2020filed Feb 25, 2021FY2019ended Dec 31, 2019filed Mar 4, 2020FY2018ended Dec 31, 2018filed Nov 12, 2019FY2017ended Dec 31, 2017filed Nov 12, 2019
Cash and equivalents9441488720431410913925—
Short-term investments3,1581,7081,5871,4461,508923498136—
Total current assets4,6452,2691,9831,8881,9561,130690197—
Total assets6,0363,3012,7602,5882,3721,381831298—
Total current liabilities2,3517945673982891418461—
Long-term debt—————————
Total liabilities4,5772,2551,9971,9641,55656410580—
Stockholders’ equity1,4591,046763624811817726(114)(60)
Shares outstanding (millions)—————————

Cash flow statement

Cloudflare cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 26, 2026FY2024ended Dec 31, 2024filed Feb 20, 2025FY2023ended Dec 31, 2023filed Feb 21, 2024FY2022ended Dec 31, 2022filed Feb 24, 2023FY2021ended Dec 31, 2021filed Mar 1, 2022FY2020ended Dec 31, 2020filed Feb 25, 2021FY2019ended Dec 31, 2019filed Mar 4, 2020FY2018ended Dec 31, 2018filed Nov 12, 2019FY2017ended Dec 31, 2017filed Nov 12, 2019
Operating cash flow60338025412465(17)(39)(43)3
Capital expenditures3161851141449356432519
Free cash flow (CFO − capex)287195140(20)(28)(74)(82)(69)(16)
Depreciation and amortization1901281361026749291912
Share repurchases000000000
Dividends paid—————————

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$174M
229 sales by 8 insiders; officers and directors $174M
Bought, twelve months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, twelve months
$701M
850 sales by 10 insiders; officers and directors $701M

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 19, 2026Ledbetter CarlDirectoropen-market sale10b5-1indirect1,931$303.64$586K871,142Oct 19, 2026
Oct 19, 2026Ledbetter CarlDirectoropen-market sale10b5-1indirect1,963$304.47$598K869,179Oct 19, 2026
Oct 19, 2026Ledbetter CarlDirectoropen-market sale10b5-1indirect1,106$305.60$338K868,073Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeroption exercise12,500$44.72$559K117,458Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-11,100$297.29$327K116,358Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-13,401$298.32$1M112,957Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-13,756$299.36$1M109,201Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-12,643$300.39$794K106,558Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-1598$301.99$181K105,960Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-1502$303.26$152K105,458Oct 19, 2026
Oct 19, 2026Seifert Thomas JChief Financial Officeropen-market sale10b5-1500$304.15$152K104,958Oct 19, 2026
Oct 15, 2026Seifert Thomas JChief Financial Officertax withholding2,944$316.32$931K104,958Oct 19, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directorconversionindirect33,003——102,778Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect5,694$346.40$2M97,084Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect9,022$347.20$3M88,062Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect7,688$348.23$3M80,374Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect3,900$349.38$1M76,474Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect4,240$350.37$1M72,234Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect2,162$351.40$760K70,072Oct 7, 2026
Oct 7, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect297$352.25$105K69,775Oct 7, 2026
Oct 6, 2026Zatlyn MichellePresident and Board Co-Chair, Directorconversionindirect33,003——102,778Oct 7, 2026
Oct 6, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect4,260$364.39$2M98,518Oct 7, 2026
Oct 6, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect6,179$365.69$2M92,339Oct 7, 2026
Oct 6, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect9,170$366.65$3M83,169Oct 7, 2026
Oct 6, 2026Zatlyn MichellePresident and Board Co-Chair, Directoropen-market sale10b5-1indirect8,559$367.72$3M74,610Oct 7, 2026

Full insider history for Cloudflare, or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

1 of the tracked managers held NET in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded NET by quarter.

FundManagerQuarterValueSharesWeightMove
Baron Capital GroupRon BaronQ2 2026$116M471,5980.17%added +3.1%

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
Cloudflare, Inc., CIK 1477333 on EDGAR
Extract generated
August 27, 2026
Withheld
none
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenue: CostOfRevenue
Gross profit: GrossProfit
Research and development: ResearchAndDevelopmentExpense
Selling, general and administrative: GeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): NonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: AvailableForSaleSecuritiesDebtSecuritiesCurrent
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: not filed
Total liabilities: Liabilities
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): not filed

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: not filed

The data

The statements on this page as files, generated August 27, 2026.

JSON file
/data/financials/NET.json