Cloudflare, Inc. (NET) income statement
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
Cloudflare, Inc. (NET) reported revenue of $696M for Q2 '26 (+35.9% year on year), operating income of -$206M (-29.6% of revenue) and net income of -$170M. Over the last four quarters revenue was $2.51B.
Income statement
| Income statement | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $336M | $362M | $379M | $401M | $430M | $460M | $479M | $512M | $562M | $615M | $640M | $696M | |
| Cost of revenue | $78.1M | $83.3M | $85M | $89M | $96M | $109M | $116M | $129M | $146M | $162M | $184M | $197M | |
| Gross profit | $258M | $279M | $294M | $312M | $334M | $351M | $364M | $384M | $416M | $453M | $456M | $500M | |
| Research & development | $90.6M | $96.4M | $87.7M | $103M | $111M | $120M | $115M | $135M | $121M | $142M | $151M | $159M | |
| Sales & marketing | $150M | $165M | $194M | $175M | $185M | $192M | $214M | $219M | $236M | $251M | $272M | $276M | |
| General & administrative | $55.9M | $60.4M | $66.3M | $69.6M | $68.8M | $73.8M | $87.7M | $97M | $95.9M | $109M | $95M | $119M | |
| Other operating expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $151M | |
| Operating expenses | $297M | $322M | $348M | $347M | $365M | $386M | $417M | $451M | $453M | $502M | $518M | $705M | |
| Operating income | -$39.2M | -$42.8M | -$54.6M | -$34.7M | -$30.8M | -$34.7M | -$53.2M | -$67.3M | -$37.5M | -$49.2M | -$62M | -$206M | |
| Interest income | $18M | $20.2M | $21.3M | $21.7M | $22.5M | $22M | $21.4M | $25.4M | $42.5M | $41.9M | $40.2M | $39.9M | |
| Interest expense | $1.14M | $1.07M | $1.1M | $1.22M | $1.43M | $1.45M | $1.44M | $1.52M | $2.91M | $2.89M | $2.56M | $3.09M | |
| Other non-operating income (gains on investments, FX ...) | -$18.1M | -$18.1M | -$22.4M | -$22M | -$19.4M | -$25.3M | -$17.9M | -$21.5M | -$42.2M | -$41.6M | -$43.2M | -$40.8M | |
| Total non-operating income | $16.9M | $17M | $21.3M | $20.8M | $18M | $23.9M | $16.5M | $20M | $39.3M | $38.7M | $40.6M | $37.8M | |
| Income before tax | -$22.3M | -$25.8M | -$33.3M | -$13.9M | -$12.8M | -$10.8M | -$36.8M | -$47.3M | $1.85M | -$10.5M | -$21.4M | -$168M | |
| Income tax | $1.25M | $2.05M | $2.27M | $1.15M | $2.51M | $2.01M | $1.7M | $3.16M | $3.14M | $1.57M | $1.53M | $2.04M | |
| Net income | -$23.5M | -$27.9M | -$35.5M | -$15.1M | -$15.3M | -$12.8M | -$38.5M | -$50.4M | -$1.29M | -$12.1M | -$22.9M | -$170M | |
| EPS (basic) | -$0.07 | -$0.08 | -$0.10 | -$0.04 | -$0.04 | -$0.04 | -$0.11 | -$0.15 | -$0.00 | -$0.03 | -$0.07 | -$0.48 | |
| EPS (diluted) | -$0.07 | -$0.08 | -$0.10 | -$0.04 | -$0.04 | -$0.04 | -$0.11 | -$0.15 | -$0.00 | -$0.03 | -$0.07 | -$0.48 | |
| Shares (basic, weighted) | 335M | 337M | 339M | 341M | 342M | 344M | 346M | 347M | 342M | 351M | 353M | 354M | |
| Shares (diluted, weighted) | 335M | 337M | 339M | 341M | 342M | 344M | 346M | 347M | 342M | 351M | 353M | 354M | |
| Depreciation & amortization | $34.5M | $50.3M | $47.5M | $29.7M | $31.7M | $36.2M | $42.2M | $45.5M | $49.5M | $52.6M | $57.8M | $65.4M | |
| EBITDA | $13.3M | $25.5M | $15.3M | $16.9M | $20.3M | $26.8M | $6.89M | -$284K | $54.2M | $45M | $39M | -$99.5M |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $84.8M | $135M | $193M | $287M | $431M | $656M | $975M | $1.3B | $1.67B | $2.17B | |
| Cost of revenue | $24M | $28.8M | $43.5M | $63.4M | $101M | $147M | $233M | $307M | $379M | $553M | |
| Gross profit | $60.8M | $106M | $149M | $224M | $330M | $509M | $743M | $990M | $1.29B | $1.62B | |
| Research & development | $23.7M | $33.7M | $54.5M | $90.7M | $127M | $189M | $298M | $358M | $421M | $512M | |
| Sales & marketing | $40.1M | $61.9M | $94.4M | $159M | $218M | $328M | $466M | $599M | $746M | $921M | |
| General & administrative | $14.1M | $20.3M | $85.2M | $81.6M | $91.8M | $120M | $180M | $218M | $279M | $389M | |
| Operating expenses | $77.9M | $116M | $234M | $332M | $437M | $637M | $944M | $1.18B | $1.45B | $1.82B | |
| Operating income | -$17M | -$9.73M | -$84.9M | -$108M | -$107M | -$128M | -$201M | -$185M | -$155M | -$207M | |
| Interest income | $626K | $762K | $1.9M | $5.79M | $6.59M | $1.97M | $14.9M | $68.2M | $87.4M | $131M | |
| Interest expense | $654K | $862K | $992K | $1.11M | $25M | $49.2M | $4.98M | $5.87M | $5.2M | $8.77M | |
| Other non-operating income (gains on investments, FX ...) | -$418K | -$877K | $196K | -$4.35M | -$6.76M | $71.1M | -$15.5M | -$13.5M | -$89.1M | -$123M | |
| Total non-operating income | -$236K | $15K | -$1.19M | $3.23M | -$18.2M | -$120M | $10.5M | $7.62M | $83.9M | $114M | |
| Income before tax | -$17.3M | -$9.72M | -$86.1M | -$105M | -$125M | -$248M | -$191M | -$178M | -$70.9M | -$92.7M | |
| Income tax | $69K | $1.03M | $1.08M | $1.12M | -$5.6M | $12.3M | $2.65M | $6.09M | $7.93M | $9.56M | |
| Net income | -$17.3M | -$10.7M | -$87.2M | -$106M | -$119M | -$260M | -$193M | -$184M | -$78.8M | -$102M | |
| EPS (basic) | -$0.07 | -$0.04 | -$0.37 | -$0.35 | -$0.40 | -$0.83 | -$0.59 | -$0.55 | -$0.23 | -$0.29 | |
| EPS (diluted) | -$0.07 | -$0.04 | -$0.37 | -$0.35 | -$0.40 | -$0.83 | -$0.59 | -$0.55 | -$0.23 | -$0.29 | |
| Shares (basic, weighted) | 237M | 251M | 237M | 300M | 300M | 312M | 326M | 334M | 341M | 348M | |
| Shares (diluted, weighted) | 237M | 251M | 237M | 300M | 300M | 312M | 326M | 334M | 341M | 348M | |
| Depreciation & amortization | $8.36M | $12.2M | $18.9M | $29.5M | $49.4M | $66.6M | $102M | $136M | $128M | $190M | |
| EBITDA | -$8.26M | $3.32M | -$66.2M | -$74.1M | -$50.6M | -$132M | -$83.4M | -$36.2M | $62M | $106M |
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.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe 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