Company / R&D Expense
Cloudflare, Inc. R&D Expense History
FY2017-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$512.5M
FY2025
5-year range
$189.4M / $512.5M
FY2021-FY2025
Trend
+21.6%
vs FY2024
Sector context
#69 of 262
Information Technology
What the data says
At $512M, Cloudflare, Inc.'s r&d expense ranks #69 of 262 in the Information Technology sector. R&D Expense has increased for 8 consecutive years, from $34M in FY2017 to $512M in FY2025.
Based on SEC 10-K filings.
$512M in FY2025 with a 5-year CAGR of +32.2%.
Improved from $358M to $512M over the past 2 years.
Information Technology sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +19.8%
- 5-Year CAGR
- +32.2%
- 10-Year CAGR
- -
Sector benchmark
#69 of 262 in Information TechnologyTop 26% of 262This company $512.5M Sector average $927.8M
▼
-44.8% below sector average
Key checks
Key Insights
- Cloudflare, Inc.'s r&d expense has grown for 8 consecutive years.
- 5-year CAGR of +32.2%, indicating consistent growth.
- In FY2025, r&d expense increased 21.6% year-over-year.
- Ranks #69 out of 262 companies in the Information Technology sector.
Company context
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.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $512.5M | +21.6% |
| FY2024 | $421.4M | +17.7% |
| FY2023 | $358.1M | +20.1% |
| FY2022 | $298.3M | +57.5% |
| FY2021 | $189.4M | +49.0% |
| FY2020 | $127.1M | +40.2% |
| FY2019 | $90.7M | +66.5% |
| FY2018 | $54.5M | +61.9% |
| FY2017 | $33.6M | - |
As of FY2025 · SEC 10-K · Updated Jul 2, 2026