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Side-by-side financial comparison of Cloudflare, Inc. (NET) and Royalty Pharma plc (RPRX). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($639.8M vs $622.0M, roughly 1.0× Royalty Pharma plc). Royalty Pharma plc runs the higher net margin — 34.4% vs -3.6%, a 38.0% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.5% vs 4.8%). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (26.3% CAGR vs 4.6%).
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.
Acceleron Pharma, Inc. is an American clinical stage biopharmaceutical company based in Cambridge, Massachusetts with a broad focus on developing medicines that regulate the transforming growth factor beta (TGF-β) superfamily of proteins, which play fundamental roles in the growth and repair of cells and tissues such as red blood cells, muscle, bone, and blood vessels.
NET vs RPRX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $639.8M | $622.0M |
| Net Profit | $-22.9M | $214.2M |
| Gross Margin | 71.2% | — |
| Operating Margin | 19.1% | 62.4% |
| Net Margin | -3.6% | 34.4% |
| Revenue YoY | 33.5% | 4.8% |
| Net Profit YoY | 40.4% | 2.9% |
| EPS (diluted) | $-0.07 | $0.49 |
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.
| Q1 26 | $639.8M | — | ||
| Q4 25 | $614.5M | $622.0M | ||
| Q3 25 | $562.0M | $609.3M | ||
| Q2 25 | $512.3M | $578.7M | ||
| Q1 25 | $479.1M | $568.2M | ||
| Q4 24 | $459.9M | $593.6M | ||
| Q3 24 | $430.1M | $564.7M | ||
| Q2 24 | $401.0M | $537.3M |
| Q1 26 | $-22.9M | — | ||
| Q4 25 | $-12.1M | $214.2M | ||
| Q3 25 | $-1.3M | $288.2M | ||
| Q2 25 | $-50.4M | $30.2M | ||
| Q1 25 | $-38.5M | $238.3M | ||
| Q4 24 | $-12.8M | $208.2M | ||
| Q3 24 | $-15.3M | $544.0M | ||
| Q2 24 | $-15.1M | $102.0M |
| Q1 26 | 71.2% | — | ||
| 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 26 | 19.1% | — | ||
| Q4 25 | -8.0% | 62.4% | ||
| Q3 25 | -6.7% | 70.1% | ||
| Q2 25 | -13.1% | 36.3% | ||
| Q1 25 | -11.1% | 94.0% | ||
| Q4 24 | -7.5% | 60.9% | ||
| Q3 24 | -7.2% | — | ||
| Q2 24 | -8.7% | 50.2% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | -2.0% | 34.4% | ||
| Q3 25 | -0.2% | 47.3% | ||
| Q2 25 | -9.8% | 5.2% | ||
| Q1 25 | -8.0% | 41.9% | ||
| Q4 24 | -2.8% | 35.1% | ||
| Q3 24 | -3.6% | 96.3% | ||
| Q2 24 | -3.8% | 19.0% |
| Q1 26 | $-0.07 | — | ||
| Q4 25 | $-0.03 | $0.49 | ||
| Q3 25 | $0.00 | $0.67 | ||
| Q2 25 | $-0.15 | $0.07 | ||
| Q1 25 | $-0.11 | $0.55 | ||
| Q4 24 | $-0.05 | $0.46 | ||
| Q3 24 | $-0.04 | $1.21 | ||
| Q2 24 | $-0.04 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $932.2M | $618.7M |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $1.5B | $9.7B |
| Total Assets | $6.2B | $19.6B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $932.2M | — | ||
| Q4 25 | $943.5M | $618.7M | ||
| Q3 25 | $1.1B | $938.9M | ||
| Q2 25 | $1.5B | $631.9M | ||
| Q1 25 | $204.5M | $1.1B | ||
| Q4 24 | $147.7M | $929.0M | ||
| Q3 24 | $182.9M | $950.1M | ||
| Q2 24 | $157.0M | $1.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $9.7B | ||
| Q3 25 | $1.3B | $9.6B | ||
| Q2 25 | $1.2B | $9.5B | ||
| Q1 25 | $1.4B | $9.8B | ||
| Q4 24 | $1.0B | $10.3B | ||
| Q3 24 | $973.1M | $10.3B | ||
| Q2 24 | $881.5M | $9.8B |
| Q1 26 | $6.2B | — | ||
| Q4 25 | $6.0B | $19.6B | ||
| Q3 25 | $5.8B | $19.3B | ||
| Q2 25 | $5.6B | $18.3B | ||
| Q1 25 | $3.7B | $17.6B | ||
| Q4 24 | $3.3B | $18.2B | ||
| Q3 24 | $3.1B | $18.0B | ||
| Q2 24 | $2.9B | $17.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× |
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 | $158.3M | $827.1M |
| Free Cash FlowOCF − Capex | $84.1M | — |
| FCF MarginFCF / Revenue | 13.1% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | $311.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $158.3M | — | ||
| Q4 25 | $190.4M | $827.1M | ||
| Q3 25 | $167.1M | $702.6M | ||
| Q2 25 | $99.8M | $364.0M | ||
| Q1 25 | $145.8M | $596.1M | ||
| Q4 24 | $127.3M | $742.5M | ||
| Q3 24 | $104.7M | $703.6M | ||
| Q2 24 | $74.8M | $658.2M |
| Q1 26 | $84.1M | — | ||
| Q4 25 | $105.2M | — | ||
| Q3 25 | $82.5M | — | ||
| Q2 25 | $39.9M | — | ||
| Q1 25 | $59.9M | — | ||
| Q4 24 | $54.2M | — | ||
| Q3 24 | $54.5M | — | ||
| Q2 24 | $45.2M | — |
| Q1 26 | 13.1% | — | ||
| Q4 25 | 17.1% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 12.7% | — | ||
| Q2 24 | 11.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | — | ||
| Q3 25 | 15.1% | — | ||
| Q2 25 | 11.7% | — | ||
| Q1 25 | 17.9% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 7.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 6.45× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NET
Segment breakdown not available.
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
