Cloudflare, Inc. Income Statement
NET / Information Technology|9 years of annual SEC 10-K data (FY2017-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 9 fiscal years. All figures from audited SEC 10-K filings.
Cloudflare, Inc. reported $2.2B in revenue and $102M in net loss for FY2025. Revenue has grown at a 41.5% compound annual rate over the past 8 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 0.49 (distress zone, below 1.8 threshold)
- Negative profit margin: -5.1%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2B | $1.7B | $1.3B | $975.2M | $656.4M | $431.1M | $287.0M | $192.7M | $134.9M |
| Cost of Revenue | $552.5M | $378.7M | $307.0M | $232.6M | $147.1M | $101.1M | $63.4M | $43.5M | $28.8M |
| Gross Profit | $1.6B | $1.3B | $989.7M | $742.6M | $509.3M | $330.0M | $223.6M | $149.1M | $106.1M |
| SG&A Expense | $389.3M | $278.5M | $218.0M | $179.8M | $119.5M | $91.8M | $81.6M | $85.2M | $20.3M |
| R&D Expense | $512.5M | $421.4M | $358.1M | $298.3M | $189.4M | $127.1M | $90.7M | $54.5M | $33.6M |
| Operating Income | -$207.2M | -$154.8M | -$185.5M | -$201.2M | -$127.7M | -$106.8M | -$107.9M | -$84.9M | -$9.7M |
| Interest Expense | - | - | $5.9M | $5.0M | $49.2M | $25.0M | $1.1M | $992.0K | $862.0K |
| Income Tax | $9.6M | $7.9M | $6.1M | $2.6M | $12.3M | -$5.6M | $1.1M | $1.1M | $1.0M |
| Net Income | -$102.3M | -$78.8M | -$183.9M | -$193.4M | -$260.3M | -$119.4M | -$105.8M | -$87.2M | -$10.7M |
| EPS (Basic) | -$0.29 | -$0.23 | -$0.55 | -$0.59 | -$0.83 | -$0.40 | -$0.72 | - | - |
| EPS (Diluted) | -$0.29 | -$0.23 | -$0.55 | -$0.59 | -$0.83 | -$0.40 | -$0.72 | - | -$0.14 |
| Shares Outstanding | 348.4M | 341.4M | 333.7M | 326.3M | 312.3M | 299.8M | 146.3M | 81.0M | 77.1M |
| Gross Margin | 74.5% | 77.3% | 76.3% | 76.1% | 77.6% | 76.6% | 77.9% | 77.4% | 78.7% |
| Operating Margin | -9.6% | -9.3% | -14.3% | -20.6% | -19.4% | -24.8% | -37.6% | -44.1% | -7.2% |
| Profit Margin | -4.7% | -4.7% | -14.2% | -19.8% | -39.7% | -27.7% | -36.9% | -45.2% | -8.0% |