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.
NET Q4 FY2025 Key Financial Metrics
Revenue
$614.5M
Gross Profit
$452.6M
Operating Profit
$-49.2M
Net Profit
$-12.1M
Gross Margin
73.6%
Operating Margin
-8.0%
Net Margin
-2.0%
YoY Growth
33.6%
EPS
$-0.03
Cloudflare, Inc. Q4 FY2025 Financial Summary
Cloudflare, Inc. reported revenue of $614.5M (up 33.6% YoY) for Q4 FY2025, with a net profit of $-12.1M (up 6.0% YoY) (-2.0% margin). Cost of goods sold was $162.0M, operating expenses totaled $501.8M.
Key Financial Metrics
| Total Revenue | $614.5M |
|---|---|
| Net Profit | $-12.1M |
| Gross Margin | 73.6% |
| Operating Margin | -8.0% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Cloudflare, Inc. Q4 FY2025 revenue of $614.5M breaks down across 2 segments, led by Sales Channel Directly To Consumer at $438.5M (71.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Sales Channel Directly To Consumer | $438.5M | 71.4% |
| Sales Channel Through Intermediary | $176.0M | 28.6% |
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 Sales Channel Through Intermediary) 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 |
| Sales Channel Through Intermediary | $176.0M | — | — | — |
Cloudflare, Inc. Annual Revenue by Year
Cloudflare, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.2B).
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 |