Financials in USD. Standardized financial statements.
A compact view of how Cloudflare, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $2.17B | $1.67B | $1.30B | $975.24M | $656.43M | $431.06M | $287.02M | $192.67M | $134.91M | $84.79M |
| Revenue Growth? | +29.8% | +28.8% | +33.0% | +48.6% | +52.3% | +50.2% | +49.0% | +42.8% | +59.1% | 0.0% |
| Cost of Revenue? | $552.52M | $378.70M | $307.00M | $232.61M | $147.13M | $101.06M | $63.42M | $43.54M | $28.79M | $23.96M |
| Gross Profit? | $1.62B | $1.29B | $989.74M | $742.63M | $509.29M | $330.00M | $223.60M | $149.14M | $106.13M | $60.83M |
| Gross Margin? | +74.5% | +77.3% | +76.3% | +76.1% | +77.6% | +76.6% | +77.9% | +77.4% | +78.7% | +71.7% |
| Operating Expenses? | $1.82B | $1.45B | $1.18B | $943.83M | $636.98M | $436.77M | $331.55M | $234.04M | $115.86M | $77.86M |
| Operating Income? | -$207.21M | -$154.76M | -$185.49M | -$201.20M | -$127.68M | -$106.77M | -$107.95M | -$84.90M | -$9.73M | -$17.03M |
| EBITDA? | $105.80M | $62.05M | -$36.17M | -$83.41M | -$132.13M | -$50.62M | -$74.12M | -$66.19M | $3.32M | -$8.26M |
| Income Before Tax | -$92.71M | -$70.87M | -$177.86M | -$190.73M | -$247.98M | -$124.97M | -$104.71M | -$86.09M | -$9.71M | -$17.27M |
| Income Tax Expense | $9.56M | $7.93M | $6.09M | $2.65M | $12.33M | -$5.60M | $1.11M | $1.08M | $1.03M | $69,000 |
| Net Income? | -$102.27M | -$78.80M | -$183.95M | -$193.38M | -$260.31M | -$119.37M | -$105.83M | -$87.16M | -$10.75M | -$17.33M |
| EPS? | $-0.29 | $-0.23 | $-0.55 | $-0.59 | $-0.83 | $-0.40 | $-0.35 | $-0.37 | $-0.04 | $-0.07 |
| Diluted EPS? | $-0.29 | $-0.23 | $-0.55 | $-0.59 | $-0.83 | $-0.40 | $-0.35 | $-0.37 | $-0.04 | $-0.07 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality