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Cloudflare, Inc. (NET)
Technology · Software - Infrastructure · NYSE
Cloudflare, Inc. revenue & earnings — last 9 fiscal years
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $134.91M | $192.67M | $287.02M | $431.06M | $656.43M | $975.24M | $1.30B | $1.67B | $2.17B |
| Gross profit | $106.13M | $149.14M | $223.60M | $330.00M | $509.29M | $742.63M | $989.74M | $1.29B | $1.62B |
| Net income | $-10.75M | $-87.16M | $-105.83M | $-119.37M | $-260.31M | $-193.38M | $-183.95M | $-78.80M | $-102.27M |
| Net margin | -8.0% | -45.2% | -36.9% | -27.7% | -39.7% | -19.8% | -14.2% | -4.7% | -4.7% |
Source: Cloudflare, Inc. SEC filings (10-K).
What growth is priced into NET stock?
At today's market cap of $78.89B, Cloudflare, Inc. is priced for free-cash-flow growth of about 46.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $260.56M from the FY ending 2025-12-31). For comparison, revenue 38.1%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 9 years of Cloudflare, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Cloudflare, Inc. financial history by metric
About Cloudflare, Inc.
Cloudflare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides a cloud-based security solution to secure a range of combination of platforms, including public and private cloud, on-premises, software-as-a-service applications, and Internet of things (IoT) devices; and application security products comprising web application firewall, bot management, distributed denial of service mitigation, API security, SSL/TLS encryption, client-side security, and security center products. It also offers application performance solutions, such as content delivery, load balancing, DNS, smart shield, video stream delivery, web optimization, cloudfare waiting room, and cloudfare data localization suite; SASE platform that combines network services and Zero Trust and workplace security products that provides a cloud-based network and security-as-a-service; network services, including magic WAN, magic transit, magic firewall, cloudflare network interconnect, and spectrum. In addition, the company provides zero trust security services which include cloudflare zero trust network access, secure web gateway, and one client; and remote browser isolation, cloud access security broker, cloud email security, digital experience monitoring, and data loss prevention products. Further, it provides developer-based solutions comprising workers AI, vectorize, AI gateway, cloudflare workers, cloudflare pages, R2 object storage, workers KV, durable objects, D1, hyperdrive, queues, cloudfare stream, cloudfare images, and cloudflare realtime; and consumer offerings, such as 1.1.1.1 DNS and with WARPm and cloudfare registrar that offers secure registration and management of domain names. The company serves customers in technology, healthcare, financial services, consumer and retail, industrial, and non-profit industries, as well as government. The company was incorporated in 2009 and is headquartered in San Francisco, California.
Cloudflare, Inc. — frequently asked questions
What is Cloudflare, Inc.'s revenue?
Cloudflare, Inc. (NET) reported revenue of $2.17B for fiscal year 2025, up 29.8% from the prior year, according to its SEC filings.
Is Cloudflare, Inc. profitable?
No — NET reported a net loss of $-102.27M in fiscal 2025.
What is NET's P/E ratio?
Cloudflare, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Cloudflare, Inc. growing?
NET's revenue grew at roughly 38.1% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Cloudflare, Inc. have?
As of fiscal year 2025, NET carried roughly $3.27B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Cloudflare, Inc.'s gross margin?
NET's gross margin was 74.5% in fiscal 2025 — gross profit of $1.62B on revenue of $2.17B.
What is Cloudflare, Inc.'s market cap?
Cloudflare, Inc. (NET) has a market capitalization of about $78.89B, based on the latest data in our nightly-refreshed cache.
When does Cloudflare, Inc.'s fiscal year end?
NET's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into NET stock?
At today's market cap of $78.89B, Cloudflare, Inc. is priced for free-cash-flow growth of about 46.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $260.56M from the FY ending 2025-12-31). For comparison, revenue 38.1%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Cloudflare, Inc.'s official SEC filings (10-K and 10-Q), covering 9 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.