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Side-by-side financial comparison of Cloudflare, Inc. (NET) and SoFi Technologies, Inc. (SOFI). Click either name above to swap in a different company.
SoFi Technologies, Inc. is the larger business by last-quarter revenue ($1.1B vs $614.5M, roughly 1.8× Cloudflare, Inc.). SoFi Technologies, Inc. runs the higher net margin — 15.2% vs -2.0%, a 17.1% gap on every dollar of revenue. On growth, SoFi Technologies, Inc. posted the faster year-over-year revenue change (42.6% vs 33.6%). Over the past eight quarters, SoFi Technologies, Inc.'s revenue compounded faster (35.6% CAGR vs 27.4%).
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.
SoFi Technologies, Inc. is an American financial technology company. Founded in 2011 by Stanford University students, it operates as a nationally chartered online bank and is a technology provider to other financial institutions. SoFi is the largest U.S. based online lender, and has 13.7 million customers as of 2025.
NET vs SOFI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $1.1B |
| Net Profit | $-12.1M | $166.7M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | — |
| Net Margin | -2.0% | 15.2% |
| Revenue YoY | 33.6% | 42.6% |
| Net Profit YoY | 6.0% | 897.2% |
| EPS (diluted) | $-0.03 | $0.12 |
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 | — | $1.1B | ||
| Q4 25 | $614.5M | $1.0B | ||
| Q3 25 | $562.0M | $961.6M | ||
| Q2 25 | $512.3M | $854.9M | ||
| Q1 25 | $479.1M | $771.8M | ||
| Q4 24 | $459.9M | $734.1M | ||
| Q3 24 | $430.1M | $697.1M | ||
| Q2 24 | $401.0M | $598.6M |
| Q1 26 | — | $166.7M | ||
| Q4 25 | $-12.1M | $173.5M | ||
| Q3 25 | $-1.3M | $139.4M | ||
| Q2 25 | $-50.4M | $97.3M | ||
| Q1 25 | $-38.5M | $71.1M | ||
| Q4 24 | $-12.8M | $332.5M | ||
| Q3 24 | $-15.3M | $60.7M | ||
| Q2 24 | $-15.1M | $17.4M |
| Q1 26 | — | — | ||
| Q4 25 | 73.6% | 84.2% | ||
| Q3 25 | 74.0% | 83.2% | ||
| Q2 25 | 74.9% | 82.4% | ||
| Q1 25 | 75.9% | 82.4% | ||
| Q4 24 | 76.4% | 82.5% | ||
| Q3 24 | 77.7% | 82.3% | ||
| Q2 24 | 77.8% | 81.7% |
| Q1 26 | — | — | ||
| Q4 25 | -8.0% | 18.1% | ||
| Q3 25 | -6.7% | 15.4% | ||
| Q2 25 | -13.1% | 13.1% | ||
| Q1 25 | -11.1% | 10.3% | ||
| Q4 24 | -7.5% | 8.2% | ||
| Q3 24 | -7.2% | 9.2% | ||
| Q2 24 | -8.7% | 2.6% |
| Q1 26 | — | 15.2% | ||
| Q4 25 | -2.0% | 16.9% | ||
| Q3 25 | -0.2% | 14.5% | ||
| Q2 25 | -9.8% | 11.4% | ||
| Q1 25 | -8.0% | 9.2% | ||
| Q4 24 | -2.8% | 45.3% | ||
| Q3 24 | -3.6% | 8.7% | ||
| Q2 24 | -3.8% | 2.9% |
| Q1 26 | — | $0.12 | ||
| Q4 25 | $-0.03 | $0.14 | ||
| Q3 25 | $0.00 | $0.11 | ||
| Q2 25 | $-0.15 | $0.08 | ||
| Q1 25 | $-0.11 | $0.06 | ||
| Q4 24 | $-0.05 | $0.31 | ||
| Q3 24 | $-0.04 | $0.05 | ||
| Q2 24 | $-0.04 | $0.01 |
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 | $3.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $10.8B |
| Total Assets | $6.0B | $53.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.4B | ||
| Q4 25 | $943.5M | $4.9B | ||
| Q3 25 | $1.1B | $3.2B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $204.5M | $2.1B | ||
| Q4 24 | $147.7M | $2.5B | ||
| Q3 24 | $182.9M | $2.4B | ||
| Q2 24 | $157.0M | $2.3B |
| Q1 26 | — | $10.8B | ||
| Q4 25 | $1.5B | $10.5B | ||
| Q3 25 | $1.3B | $8.8B | ||
| Q2 25 | $1.2B | $6.9B | ||
| Q1 25 | $1.4B | $6.7B | ||
| Q4 24 | $1.0B | $6.5B | ||
| Q3 24 | $973.1M | $6.1B | ||
| Q2 24 | $881.5M | $5.9B |
| Q1 26 | — | $53.7B | ||
| Q4 25 | $6.0B | $50.7B | ||
| Q3 25 | $5.8B | $45.3B | ||
| Q2 25 | $5.6B | $41.1B | ||
| Q1 25 | $3.7B | $37.7B | ||
| Q4 24 | $3.3B | $36.3B | ||
| Q3 24 | $3.1B | $34.4B | ||
| Q2 24 | $2.9B | $32.6B |
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 | — |
| Free Cash FlowOCF − Capex | $105.2M | — |
| FCF MarginFCF / Revenue | 17.1% | — |
| Capex IntensityCapex / Revenue | 13.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $190.4M | $-3.7B | ||
| Q3 25 | $167.1M | $-1.3B | ||
| Q2 25 | $99.8M | $-1.5B | ||
| Q1 25 | $145.8M | $21.5M | ||
| Q4 24 | $127.3M | $-1.1B | ||
| Q3 24 | $104.7M | $-1.2B | ||
| Q2 24 | $74.8M | $-484.4M |
| Q1 26 | — | — | ||
| Q4 25 | $105.2M | $-4.0B | ||
| Q3 25 | $82.5M | $-1.4B | ||
| Q2 25 | $39.9M | $-1.5B | ||
| Q1 25 | $59.9M | $-31.1M | ||
| Q4 24 | $54.2M | $-1.3B | ||
| Q3 24 | $54.5M | $-1.2B | ||
| Q2 24 | $45.2M | $-521.1M |
| Q1 26 | — | — | ||
| Q4 25 | 17.1% | -388.8% | ||
| Q3 25 | 14.7% | -142.0% | ||
| Q2 25 | 7.8% | -179.0% | ||
| Q1 25 | 12.5% | -4.0% | ||
| Q4 24 | 11.8% | -173.5% | ||
| Q3 24 | 12.7% | -174.6% | ||
| Q2 24 | 11.3% | -87.0% |
| Q1 26 | — | — | ||
| Q4 25 | 13.9% | 23.7% | ||
| Q3 25 | 15.1% | 6.2% | ||
| Q2 25 | 11.7% | 7.4% | ||
| Q1 25 | 17.9% | 6.8% | ||
| Q4 24 | 15.9% | 21.0% | ||
| Q3 24 | 11.7% | 6.2% | ||
| Q2 24 | 7.4% | 6.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | -21.56× | ||
| Q3 25 | — | -9.37× | ||
| Q2 25 | — | -15.08× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | -3.37× | ||
| Q3 24 | — | -19.32× | ||
| Q2 24 | — | -27.83× |
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% |
SOFI
| Loans and securitizations | $932.2M | 85% |
| Loan origination, sales, securitizations and servicing | $142.2M | 13% |
| Corporate borrowings | $10.7M | 1% |
| Securitizations and warehouses | $10.1M | 1% |
