Cloudflare revenue and financials
$363.10Change from previous close: +4.02%Absolute change: +$14.03
In the fiscal year ended December 2025, Cloudflare reported revenue of $2.17B (+29.85% year over year). The net loss was $102.27M.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +29.85%
- 2025 vs 2024
- Net margin
- -4.7%
- 2024: -4.7%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 2,168 | 1,670 | 1,297 | 975 | 656 | 431 | 287 | 193 | 135 |
| Cost of revenue | 553 | 379 | 307 | 233 | 147 | 101 | 63.4 | 43.5 | 28.8 |
| Gross profit | 1,615 | 1,291 | 990 | 743 | 509 | 330 | 224 | 149 | 106 |
| Selling, general and administrative | 1,310 | 1,024 | 817 | 646 | — | — | — | — | — |
| Research and development | 512 | 421 | 358 | 298 | 189 | 127 | 90.7 | 54.5 | 33.7 |
| Operating income | -207 | -155 | -185 | -201 | -128 | -107 | -108 | -84.9 | -9.7 |
| EBIT | -83.9 | -65.7 | -172 | -186 | — | — | — | — | — |
| EBITDA | 106 | 62.0 | -36.2 | -83.4 | — | — | — | — | — |
| Interest expense | 8.8 | 5.2 | 5.9 | 5.0 | 49.2 | 25.0 | 1.1 | 1.0 | 0.9 |
| Pre-tax income | -92.7 | -70.9 | -178 | -191 | — | — | — | — | — |
| Income tax | 9.6 | 7.9 | 6.1 | 2.6 | 12.3 | -5.6 | 1.1 | 1.1 | 1.0 |
| Net income | -102 | -78.8 | -184 | -193 | -260 | -119 | -106 | -87.2 | -10.7 |
| Net income to common shareholders | -102 | -78.8 | -184 | -193 | — | — | — | — | — |
| Basic EPS | -0.29 | -0.23 | -0.55 | -0.59 | -0.83 | -0.40 | -0.72 | — | — |
| Diluted EPS | -0.29 | -0.23 | -0.55 | -0.59 | -0.83 | -0.40 | -0.72 | — | — |
| Average shares (basic) | 348 | 341 | 334 | 326 | — | — | — | — | — |
| Average shares (diluted) | 348 | 341 | 334 | 326 | 312 | 300 | 146 | — | — |