Cloudflare, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $2.2B | $1.7B | $1.3B | $975.2M | $656.4M |
| Gross profit | $1.6B | $1.3B | $989.7M | $742.6M | $509.3M |
| Operating income | -$207.2M | -$154.8M | -$185.5M | -$201.2M | -$127.7M |
| Operating expenses | $1.8B | $1.4B | $1.2B | $943.8M | $637.0M |
| Cost of revenue | $552.5M | $378.7M | $307.0M | $232.6M | $147.1M |
| Cash from operations | $603.1M | $380.4M | $254.4M | $123.6M | $64.6M |
| Capital expenditure | $315.6M | $185.0M | $114.4M | $143.6M | $93.0M |
| Free cash flow | $287.5M | $195.4M | $140.0M | -$20.0M | -$28.3M |
| Share repurchases | $0 | $0 | $34,000 | $3,000 | $189,000 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
| Total assets | $6.0B | $3.3B | $2.8B | $2.6B | $2.4B |
| Total liabilities | $4.6B | $2.3B | $2.0B | $2.0B | $1.6B |
Shares outstanding 353.5M · Free float 81.9%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.