Cloudflare, Inc. (NET) balance sheet
NYSE · Technology · Software - Infrastructure · 5,156 employees · CEO Matthew Prince
- Price
- $280.70 -9.54%
- Market cap
- $100B
- Enterprise value
- $102B
- Last report
- Q2 '26 filed 2026-08-06
- Next report
- 2026-11-05 EPS est. $0.34
At the end of Q2 '26 Cloudflare, Inc. (NET) held $4.16B in cash and short-term investments against $3.53B of debt incl. leases. Total assets $6.47B, total liabilities $4.85B, shareholders' equity $1.62B.
Balance sheet
| Balance sheet | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $94.1M | $86.9M | $254M | $157M | $183M | $148M | $204M | $1.52B | $1.05B | $944M | $943M | $1.66B | |
| Short-term investments | $1.48B | $1.59B | $1.46B | $1.6B | $1.64B | $1.71B | $1.71B | $2.44B | $2.99B | $3.16B | $3.23B | $2.5B | |
| Receivables | $211M | $259M | $225M | $263M | $266M | $333M | $302M | $329M | $375M | $406M | $404M | $450M | |
| Inventory | $1.61M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other current assets | $39.1M | $2.52M | $5.54M | $1M | $73.6M | $79.8M | $407M | $117M | $119M | $138M | $137M | $165M | |
| Current assets | $1.86B | $1.98B | $2.02B | $2.09B | $2.16B | $2.27B | $2.62B | $4.41B | $4.54B | $4.64B | $4.72B | $4.78B | |
| Property, plant & equipment (net) | $436M | $461M | $471M | $481M | $548M | $636M | $692M | $733M | $811M | $856M | $875M | $951M | |
| Long-term investments | $1.89M | $0 | $1.84M | $2.02M | $0 | $0 | $0 | $0 | $0 | $0 | $1.23M | $0 | |
| Goodwill | $148M | $148M | $148M | $156M | $157M | $181M | $181M | $181M | $181M | $227M | $233M | $376M | |
| Intangible assets | $17.8M | $19.6M | $14.3M | $21.7M | $19.2M | $21.9M | $23.9M | $22.1M | $18.4M | $41.8M | $38.3M | $57.4M | |
| Deferred tax assets | -$1.89M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Other non-current assets | $130M | $148M | $150M | $163M | $174M | $193M | $200M | $221M | $240M | $267M | $300M | $311M | |
| Non-current assets | $732M | $777M | $785M | $824M | $899M | $1.03B | $1.1B | $1.16B | $1.25B | $1.39B | $1.45B | $1.7B | |
| Total assets | $2.59B | $2.76B | $2.8B | $2.92B | $3.06B | $3.3B | $3.72B | $5.56B | $5.79B | $6.04B | $6.16B | $6.47B | |
| Liabilities | |||||||||||||
| Accounts payable | $40.6M | $53.7M | $47.8M | $59.5M | $74.1M | $106M | $93.8M | $95.7M | $85.9M | $84.1M | $58.8M | $127M | |
| Accrued expenses | $55.7M | $63.6M | $68.4M | $66.9M | $68.9M | $81.6M | $89.6M | $80.5M | $92.5M | $0 | $103M | $166M | |
| Short-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.29B | $1.29B | $1.37B | $1.29B | |
| Deferred revenue | $294M | $348M | $356M | $371M | $390M | $478M | $508M | $547M | $599M | $684M | $755M | $812M | |
| Other current liabilities | $52.3M | $63.8M | $62.3M | $57.8M | $65.8M | $80.9M | $76.5M | $77.9M | $90.2M | $220M | $126M | $152M | |
| Current liabilities | $478M | $567M | $574M | $596M | $642M | $794M | $821M | $858M | $2.22B | $2.35B | $2.41B | $2.63B | |
| Long-term debt | $1.28B | $1.28B | $1.28B | $1.29B | $1.29B | $1.29B | $1.29B | $3.26B | $1.97B | $2.16B | $1.98B | $1.98B | |
| Lease obligations (non-current) | $102M | $113M | $113M | $113M | $121M | $128M | $135M | $145M | $173M | $182M | $182M | $181M | |
| Deferred revenue (non-current) | $17.4M | $17.2M | $17.6M | $23.6M | $22M | $22.1M | $27.6M | $35.8M | $45.9M | $41.1M | $39.9M | $40.3M | |
| Other non-current liabilities | $11.5M | $15.5M | $15.3M | $17.7M | $18.3M | $23.6M | $24M | $23.9M | $24.2M | -$153M | $29.1M | $28M | |
| Non-current liabilities | $1.41B | $1.43B | $1.43B | $1.44B | $1.45B | $1.46B | $1.47B | $3.47B | $2.22B | $2.23B | $2.23B | $2.23B | |
| Total liabilities | $1.89B | $2B | $2B | $2.04B | $2.09B | $2.25B | $2.3B | $4.32B | $4.44B | $4.58B | $4.64B | $4.85B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $335K | $337K | $339K | $341K | $342K | $344K | $346K | $348K | $349K | $351K | $352K | $355K | |
| Retained earnings | -$996M | -$1.02B | -$1.06B | -$1.07B | -$1.09B | -$1.1B | -$1.14B | -$1.19B | -$1.19B | -$1.2B | -$1.23B | -$1.4B | |
| Accumulated other comprehensive income | -$4.15M | $1.98M | -$900K | -$1.32M | $15.9M | -$4.25M | $3.65M | $16.6M | $14.3M | $12.3M | -$5.78M | -$10.2M | |
| Shareholders' equity | $699M | $763M | $797M | $882M | $973M | $1.05B | $1.43B | $1.24B | $1.35B | $1.46B | $1.53B | $1.62B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $1.42B | $1.44B | $1.44B | $1.44B | $1.45B | $1.46B | $1.48B | $3.46B | $3.5B | $3.7B | $3.52B | $3.53B | |
| Net debt (debt - cash) | $1.32B | $1.35B | $1.18B | $1.28B | $1.27B | $1.32B | $1.27B | $1.94B | $2.45B | $2.76B | $2.58B | $1.87B | |
| Balance sheet | Trend | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & equivalents | $24.4M | $25.1M | $139M | $109M | $314M | $204M | $86.9M | $148M | $944M | |
| Short-term investments | $49M | $136M | $498M | $923M | $1.51B | $1.45B | $1.59B | $1.71B | $3.16B | |
| Receivables | $15.2M | $26.7M | $35.9M | $67M | $102M | $157M | $259M | $333M | $406M | |
| Other current assets | $749K | $1.16M | $3.31M | $2.59M | $2.96M | $10.6M | $2.52M | $75.5M | $9.36M | |
| Current assets | $92M | $197M | $690M | $1.13B | $1.95B | $1.89B | $1.98B | $2.27B | $4.64B | |
| Property, plant & equipment (net) | $51.4M | $73.2M | $101M | $167M | $314M | $419M | $461M | $636M | $856M | |
| Long-term investments | $0 | $0 | $0 | $0 | -$370K | $471K | $0 | $0 | $0 | |
| Goodwill | $4.08M | $4.08M | $4.08M | $17.2M | $23.5M | $148M | $148M | $181M | $227M | |
| Intangible assets | $673K | $156K | $31K | $2.8M | $1.25M | $32.5M | $19.6M | $21.9M | $41.8M | |
| Deferred tax assets | $0 | $0 | $0 | $0 | $370K | -$140K | $0 | $0 | $0 | |
| Other non-current assets | $14.9M | $24.2M | $35.4M | $63.9M | $79.8M | $100M | $148M | $193M | $267M | |
| Non-current assets | $71.1M | $102M | $141M | $251M | $419M | $700M | $777M | $1.03B | $1.39B | |
| Total assets | $163M | $298M | $831M | $1.38B | $2.37B | $2.59B | $2.76B | $3.3B | $6.04B | |
| Liabilities | ||||||||||
| Accounts payable | $4.73M | $14.3M | $11.5M | $14.5M | $26.1M | $35.6M | $53.7M | $106M | $84.1M | |
| Accrued expenses | $5.17M | $7.08M | $15M | $20.2M | $38.1M | $68.3M | $63.6M | $81.6M | $111M | |
| Short-term debt | $356K | $255K | $0 | $0 | $12.1M | $0 | $0 | $0 | $1.36B | |
| Taxes payable | $897K | $225K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Deferred revenue | $11.9M | $16.8M | $30.8M | $54.9M | $117M | $219M | $348M | $478M | $684M | |
| Other current liabilities | $4.09M | $22.7M | $26.6M | $34M | $70.6M | $42M | $63.8M | $80.9M | $109M | |
| Current liabilities | $27.2M | $61.4M | $83.9M | $141M | $289M | $398M | $567M | $794M | $2.35B | |
| Long-term debt | $255K | $0 | $0 | $383M | $1.15B | $1.44B | $1.28B | $1.29B | $2.16B | |
| Lease obligations (non-current) | $10.3M | $10.4M | $10.5M | $27.3M | $109M | $108M | $113M | $128M | $182M | |
| Deferred revenue (non-current) | $207K | $220K | $804K | $1.89M | $4.68M | $11.7M | $17.2M | $22.1M | $41.1M | |
| Other non-current liabilities | $185M | $340M | $9.8M | $9.86M | $7.11M | $10.5M | $15.5M | $23.6M | -$153M | |
| Non-current liabilities | $196M | $351M | $21.1M | $422M | $1.27B | $1.57B | $1.43B | $1.46B | $2.23B | |
| Total liabilities | $223M | $412M | $105M | $564M | $1.56B | $1.96B | $2B | $2.25B | $4.58B | |
| Equity | ||||||||||
| Common stock & paid-in capital | $79K | $85K | $294K | $304K | $321K | $328K | $337K | $344K | $351K | |
| Retained earnings | -$109M | -$196M | -$302M | -$421M | -$681M | -$840M | -$1.02B | -$1.1B | -$1.2B | |
| Accumulated other comprehensive income | -$27.7M | -$39.9M | $61K | $163K | -$2.65M | -$11.9M | $1.98M | -$4.25M | $12.3M | |
| Shareholders' equity | -$59.8M | -$114M | $726M | $817M | $816M | $624M | $763M | $1.05B | $1.46B | |
| Debt | ||||||||||
| Total debt (incl. leases) | $10.9M | $10.7M | $10.5M | $428M | $1.29B | $1.58B | $1.44B | $1.46B | $3.7B | |
| Net debt (debt - cash) | -$13.5M | -$14.4M | -$128M | $319M | $979M | $1.37B | $1.35B | $1.32B | $2.76B | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01