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Side-by-side financial comparison of Cloudflare, Inc. (NET) and Root, Inc. (ROOT). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $397.0M, roughly 1.5× Root, Inc.). On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs 21.5%). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 24.8%).
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.
Root Insurance Company is an online car insurance company operating in the United States.
NET vs ROOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $397.0M |
| Net Profit | $-12.1M | — |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | 2.6% |
| Net Margin | -2.0% | — |
| Revenue YoY | 33.6% | 21.5% |
| Net Profit YoY | 6.0% | — |
| EPS (diluted) | $-0.03 | $0.35 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $614.5M | $397.0M | ||
| Q3 25 | $562.0M | $387.8M | ||
| Q2 25 | $512.3M | $382.9M | ||
| Q1 25 | $479.1M | $349.4M | ||
| Q4 24 | $459.9M | $326.7M | ||
| Q3 24 | $430.1M | $305.7M | ||
| Q2 24 | $401.0M | $289.2M | ||
| Q1 24 | $378.6M | $254.9M |
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-1.3M | $-5.4M | ||
| Q2 25 | $-50.4M | $22.0M | ||
| Q1 25 | $-38.5M | $18.4M | ||
| Q4 24 | $-12.8M | — | ||
| Q3 24 | $-15.3M | $22.8M | ||
| Q2 24 | $-15.1M | $-7.8M | ||
| Q1 24 | $-35.5M | $-6.2M |
| Q4 25 | 73.6% | — | ||
| Q3 25 | 74.0% | — | ||
| Q2 25 | 74.9% | — | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.4% | — | ||
| Q3 24 | 77.7% | — | ||
| Q2 24 | 77.8% | — | ||
| Q1 24 | 77.5% | — |
| Q4 25 | -8.0% | 2.6% | ||
| Q3 25 | -6.7% | 0.1% | ||
| Q2 25 | -13.1% | 7.1% | ||
| Q1 25 | -11.1% | 6.8% | ||
| Q4 24 | -7.5% | 10.7% | ||
| Q3 24 | -7.2% | 11.3% | ||
| Q2 24 | -8.7% | 1.3% | ||
| Q1 24 | -14.4% | 2.1% |
| Q4 25 | -2.0% | — | ||
| Q3 25 | -0.2% | -1.4% | ||
| Q2 25 | -9.8% | 5.7% | ||
| Q1 25 | -8.0% | 5.3% | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | -3.6% | 7.5% | ||
| Q2 24 | -3.8% | -2.7% | ||
| Q1 24 | -9.4% | -2.4% |
| Q4 25 | $-0.03 | $0.35 | ||
| Q3 25 | $0.00 | $-0.35 | ||
| Q2 25 | $-0.15 | $1.29 | ||
| Q1 25 | $-0.11 | $1.07 | ||
| Q4 24 | $-0.05 | $1.42 | ||
| Q3 24 | $-0.04 | $1.35 | ||
| Q2 24 | $-0.04 | $-0.52 | ||
| Q1 24 | $-0.10 | $-0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $943.5M | $669.3M |
| Total DebtLower is stronger | — | $200.3M |
| Stockholders' EquityBook value | $1.5B | $284.3M |
| Total Assets | $6.0B | $1.7B |
| Debt / EquityLower = less leverage | — | 0.70× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $943.5M | $669.3M | ||
| Q3 25 | $1.1B | $653.3M | ||
| Q2 25 | $1.5B | $641.4M | ||
| Q1 25 | $204.5M | $609.4M | ||
| Q4 24 | $147.7M | $599.3M | ||
| Q3 24 | $182.9M | $674.8M | ||
| Q2 24 | $157.0M | $667.2M | ||
| Q1 24 | $254.4M | $640.5M |
| Q4 25 | — | $200.3M | ||
| Q3 25 | — | $200.4M | ||
| Q2 25 | — | $200.1M | ||
| Q1 25 | — | $200.0M | ||
| Q4 24 | — | $200.1M | ||
| Q3 24 | — | $300.9M | ||
| Q2 24 | — | $300.1M | ||
| Q1 24 | — | $299.3M |
| Q4 25 | $1.5B | $284.3M | ||
| Q3 25 | $1.3B | $265.0M | ||
| Q2 25 | $1.2B | $244.5M | ||
| Q1 25 | $1.4B | $228.7M | ||
| Q4 24 | $1.0B | $203.7M | ||
| Q3 24 | $973.1M | $181.9M | ||
| Q2 24 | $881.5M | $151.3M | ||
| Q1 24 | $797.2M | $165.7M |
| Q4 25 | $6.0B | $1.7B | ||
| Q3 25 | $5.8B | $1.6B | ||
| Q2 25 | $5.6B | $1.6B | ||
| Q1 25 | $3.7B | $1.6B | ||
| Q4 24 | $3.3B | $1.5B | ||
| Q3 24 | $3.1B | $1.6B | ||
| Q2 24 | $2.9B | $1.5B | ||
| Q1 24 | $2.8B | $1.4B |
| Q4 25 | — | 0.70× | ||
| Q3 25 | — | 0.76× | ||
| Q2 25 | — | 0.82× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | — | 1.65× | ||
| Q2 24 | — | 1.98× | ||
| Q1 24 | — | 1.81× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $190.4M | $206.5M |
| Free Cash FlowOCF − Capex | $105.2M | — |
| FCF MarginFCF / Revenue | 17.1% | — |
| Capex IntensityCapex / Revenue | 13.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.4M | $206.5M | ||
| Q3 25 | $167.1M | $57.6M | ||
| Q2 25 | $99.8M | $52.0M | ||
| Q1 25 | $145.8M | $26.8M | ||
| Q4 24 | $127.3M | $195.7M | ||
| Q3 24 | $104.7M | $49.4M | ||
| Q2 24 | $74.8M | $62.6M | ||
| Q1 24 | $73.6M | $14.5M |
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | — | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | $195.3M | ||
| Q3 24 | $54.5M | — | ||
| Q2 24 | $45.2M | $62.4M | ||
| Q1 24 | $41.5M | $14.3M |
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | 59.8% | ||
| Q3 24 | 12.7% | — | ||
| Q2 24 | 11.3% | 21.6% | ||
| Q1 24 | 11.0% | 5.6% |
| Q4 25 | 13.9% | 0.0% | ||
| Q3 25 | 15.1% | 0.0% | ||
| Q2 25 | 11.7% | 0.0% | ||
| Q1 25 | 17.9% | 0.0% | ||
| Q4 24 | 15.9% | 0.1% | ||
| Q3 24 | 11.7% | 0.0% | ||
| Q2 24 | 7.4% | 0.1% | ||
| Q1 24 | 8.5% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NET
| Sales Channel Directly To Consumer | $438.5M | 71% |
| Sales Channel Through Intermediary | $176.0M | 29% |
ROOT
Segment breakdown not available.
