Cloudflare, Inc.NETEarnings & Financial Report
Cloudflare, Inc. is an American technology company headquartered in San Francisco, California, that provides a range of internet services, including content delivery network (CDN) services, cloud cybersecurity, DDoS mitigation, and ICANN-accredited domain registration. The company's services act primarily as a reverse proxy between website visitors and a customer's hosting provider, improving performance and protecting against malicious traffic.
Revenue
$512.3M
Gross Profit
$383.6M
Operating Profit
$-67.3M
Net Profit
$-50.4M
Gross Margin
74.9%
Operating Margin
-13.1%
Net Margin
-9.8%
YoY Growth
27.8%
EPS
$-0.15
Cloudflare, Inc. Q2 FY2025 Financial Summary
Cloudflare, Inc. reported revenue of $512.3M (up 27.8% YoY) for Q2 FY2025, with a net profit of $-50.4M (down 234.6% YoY) (-9.8% margin). Cost of goods sold was $128.7M, operating expenses totaled $450.9M.
Key Financial Metrics
| Total Revenue | $512.3M |
|---|---|
| Net Profit | $-50.4M |
| Gross Margin | 74.9% |
| Operating Margin | -13.1% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Cloudflare, Inc. Q2 FY2025 revenue of $512.3M breaks down across 4 segments, led by Sales Channel Directly To Consumer at $381.9M (74.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Sales Channel Directly To Consumer | $381.9M | 74.5% |
| Asia Pacific | $75.1M | 14.7% |
| Other Geographical Regions | $41.8M | 8.2% |
| Other | $13.4M | 2.6% |
Cloudflare, Inc. Revenue by Segment — Quarterly Trend
Cloudflare, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Sales Channel Directly To Consumer and Asia Pacific) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Sales Channel Directly To Consumer | $438.5M | $412.2M | $381.9M | $366.5M |
| Asia Pacific | — | $84.7M | $75.1M | $73.4M |
| Other Geographical Regions | — | $41.5M | $41.8M | $37.0M |
| Other | — | $23.7M | $13.4M | — |
Cloudflare, Inc. Annual Revenue by Year
Cloudflare, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $2.2B |
| 2024 | $1.7B |
| 2023 | $1.3B |
| 2022 | $975.2M |
Cloudflare, Inc. Quarterly Revenue & Net Profit History
Cloudflare, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $614.5M | +33.6% | $-12.1M | -2.0% |
| Q3 FY2025 | $562.0M | +30.7% | $-1.3M | -0.2% |
| Q2 FY2025 | $512.3M | +27.8% | $-50.4M | -9.8% |
| Q1 FY2025 | $479.1M | +26.5% | $-38.5M | -8.0% |
| Q4 FY2024 | $459.9M | +26.9% | $-12.8M | -2.8% |
| Q3 FY2024 | $430.1M | +28.2% | $-15.3M | -3.6% |
| Q2 FY2024 | $401.0M | +30.0% | $-15.1M | -3.8% |
| Q1 FY2024 | $378.6M | +30.5% | $-35.5M | -9.4% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $378.6M | $401.0M | $430.1M | $459.9M | $479.1M | $512.3M | $562.0M | $614.5M |
| YoY Growth | 30.5% | 30.0% | 28.2% | 26.9% | 26.5% | 27.8% | 30.7% | 33.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.80B | $2.92B | $3.06B | $3.30B | $3.72B | $5.56B | $5.79B | $6.04B |
| Liabilities | $2.00B | $2.04B | $2.09B | $2.25B | $2.30B | $4.32B | $4.44B | $4.58B |
| Equity | $797.2M | $881.5M | $973.1M | $1.05B | $1.43B | $1.24B | $1.35B | $1.46B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $73.6M | $74.8M | $104.7M | $127.3M | $145.8M | $99.8M | $167.1M | $190.4M |