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Side-by-side financial comparison of Cloudflare, Inc. (NET) and YELP INC (YELP). Click either name above to swap in a different company.
Cloudflare, Inc. is the larger business by last-quarter revenue ($614.5M vs $360.0M, roughly 1.7× YELP INC). YELP INC runs the higher net margin — 10.5% vs -2.0%, a 12.5% gap on every dollar of revenue. On growth, Cloudflare, Inc. posted the faster year-over-year revenue change (33.6% vs -0.5%). Cloudflare, Inc. produced more free cash flow last quarter ($105.2M vs $72.3M). Over the past eight quarters, Cloudflare, Inc.'s revenue compounded faster (27.4% CAGR vs 4.0%).
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.
Yelp Inc. is an American company that develops the Yelp.com website and the Yelp mobile app, which publishes crowd-sourced reviews about businesses. It also operates Yelp Guest Manager, a table reservation service. It is headquartered in San Francisco.
NET vs YELP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $614.5M | $360.0M |
| Net Profit | $-12.1M | $37.8M |
| Gross Margin | 73.6% | — |
| Operating Margin | -8.0% | 13.6% |
| Net Margin | -2.0% | 10.5% |
| Revenue YoY | 33.6% | -0.5% |
| Net Profit YoY | 6.0% | -10.5% |
| EPS (diluted) | $-0.03 | $0.60 |
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 | $360.0M | ||
| Q3 25 | $562.0M | $376.0M | ||
| Q2 25 | $512.3M | $370.4M | ||
| Q1 25 | $479.1M | $358.5M | ||
| Q4 24 | $459.9M | $362.0M | ||
| Q3 24 | $430.1M | $360.3M | ||
| Q2 24 | $401.0M | $357.0M | ||
| Q1 24 | $378.6M | $332.8M |
| Q4 25 | $-12.1M | $37.8M | ||
| Q3 25 | $-1.3M | $39.3M | ||
| Q2 25 | $-50.4M | $44.1M | ||
| Q1 25 | $-38.5M | $24.4M | ||
| Q4 24 | $-12.8M | $42.2M | ||
| Q3 24 | $-15.3M | $38.4M | ||
| Q2 24 | $-15.1M | $38.0M | ||
| Q1 24 | $-35.5M | $14.2M |
| 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% | 13.6% | ||
| Q3 25 | -6.7% | 14.1% | ||
| Q2 25 | -13.1% | 14.4% | ||
| Q1 25 | -11.1% | 8.2% | ||
| Q4 24 | -7.5% | 14.8% | ||
| Q3 24 | -7.2% | 12.9% | ||
| Q2 24 | -8.7% | 11.1% | ||
| Q1 24 | -14.4% | 3.4% |
| Q4 25 | -2.0% | 10.5% | ||
| Q3 25 | -0.2% | 10.5% | ||
| Q2 25 | -9.8% | 11.9% | ||
| Q1 25 | -8.0% | 6.8% | ||
| Q4 24 | -2.8% | 11.7% | ||
| Q3 24 | -3.6% | 10.7% | ||
| Q2 24 | -3.8% | 10.7% | ||
| Q1 24 | -9.4% | 4.3% |
| Q4 25 | $-0.03 | $0.60 | ||
| Q3 25 | $0.00 | $0.61 | ||
| Q2 25 | $-0.15 | $0.67 | ||
| Q1 25 | $-0.11 | $0.36 | ||
| Q4 24 | $-0.05 | $0.58 | ||
| Q3 24 | $-0.04 | $0.56 | ||
| Q2 24 | $-0.04 | $0.54 | ||
| Q1 24 | $-0.10 | $0.20 |
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 | $319.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $710.9M |
| Total Assets | $6.0B | $958.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $943.5M | $319.4M | ||
| Q3 25 | $1.1B | $333.6M | ||
| Q2 25 | $1.5B | $301.1M | ||
| Q1 25 | $204.5M | $324.4M | ||
| Q4 24 | $147.7M | $317.9M | ||
| Q3 24 | $182.9M | $397.0M | ||
| Q2 24 | $157.0M | $384.8M | ||
| Q1 24 | $254.4M | $420.8M |
| Q4 25 | $1.5B | $710.9M | ||
| Q3 25 | $1.3B | $733.2M | ||
| Q2 25 | $1.2B | $746.4M | ||
| Q1 25 | $1.4B | $728.0M | ||
| Q4 24 | $1.0B | $744.0M | ||
| Q3 24 | $973.1M | $739.5M | ||
| Q2 24 | $881.5M | $735.3M | ||
| Q1 24 | $797.2M | $722.0M |
| Q4 25 | $6.0B | $958.5M | ||
| Q3 25 | $5.8B | $989.9M | ||
| Q2 25 | $5.6B | $980.2M | ||
| Q1 25 | $3.7B | $985.2M | ||
| Q4 24 | $3.3B | $983.6M | ||
| Q3 24 | $3.1B | $980.2M | ||
| Q2 24 | $2.9B | $965.0M | ||
| Q1 24 | $2.8B | $993.5M |
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 | $84.5M |
| Free Cash FlowOCF − Capex | $105.2M | $72.3M |
| FCF MarginFCF / Revenue | 17.1% | 20.1% |
| Capex IntensityCapex / Revenue | 13.9% | 3.4% |
| Cash ConversionOCF / Net Profit | — | 2.24× |
| TTM Free Cash FlowTrailing 4 quarters | $287.5M | $323.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $190.4M | $84.5M | ||
| Q3 25 | $167.1M | $131.5M | ||
| Q2 25 | $99.8M | $58.0M | ||
| Q1 25 | $145.8M | $98.0M | ||
| Q4 24 | $127.3M | $71.0M | ||
| Q3 24 | $104.7M | $102.3M | ||
| Q2 24 | $74.8M | $39.7M | ||
| Q1 24 | $73.6M | $72.9M |
| Q4 25 | $105.2M | $72.3M | ||
| Q3 25 | $82.5M | $118.9M | ||
| Q2 25 | $39.9M | $45.0M | ||
| Q1 25 | $59.9M | $87.5M | ||
| Q4 24 | $54.2M | $60.0M | ||
| Q3 24 | $54.5M | $92.5M | ||
| Q2 24 | $45.2M | $30.1M | ||
| Q1 24 | $41.5M | $65.9M |
| Q4 25 | 17.1% | 20.1% | ||
| Q3 25 | 14.7% | 31.6% | ||
| Q2 25 | 7.8% | 12.2% | ||
| Q1 25 | 12.5% | 24.4% | ||
| Q4 24 | 11.8% | 16.6% | ||
| Q3 24 | 12.7% | 25.7% | ||
| Q2 24 | 11.3% | 8.4% | ||
| Q1 24 | 11.0% | 19.8% |
| Q4 25 | 13.9% | 3.4% | ||
| Q3 25 | 15.1% | 3.3% | ||
| Q2 25 | 11.7% | 3.5% | ||
| Q1 25 | 17.9% | 2.9% | ||
| Q4 24 | 15.9% | 3.0% | ||
| Q3 24 | 11.7% | 2.7% | ||
| Q2 24 | 7.4% | 2.7% | ||
| Q1 24 | 8.5% | 2.1% |
| Q4 25 | — | 2.24× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 4.02× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | — | 2.66× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 5.15× |
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% |
YELP
| Advertising Services | $231.4M | 64% |
| Advertising Restaurants And Other | $106.8M | 30% |
| Other Revenue | $21.8M | 6% |
