Cloudflare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide.
Profile & Fundamentals
Cloudflare: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Cloudflare Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Cloudflare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides a cloud-based security solution to secure a range of combination of platforms, including public and private cloud, on-premises, software-as-a-service applications, and Internet of things (IoT) devices; and application security products comprising web application firewall, bot management, distributed denial of service mitigation, API security, SSL/TLS encryption, client-side security, and security center products. It also offers application performance solutions, such as content delivery, load balancing, DNS, smart shield, video stream delivery, web optimization, cloudfare waiting room, and cloudfare data localization suite; SASE platform that combines network services and Zero Trust and workplace security products that provides a cloud-based network and security-as-a-service; network services, including magic WAN, magic transit, magic firewall, cloudflare network interconnect, and spectrum. In addition, the company provides zero trust security services which include cloudflare zero trust network access, secure web gateway, and one client; and remote browser isolation, cloud access security broker, cloud email security, digital experience monitoring, and data loss prevention products. Further, it provides developer-based solutions comprising workers AI, vectorize, AI gateway, cloudflare workers, cloudflare pages, R2 object storage, workers KV, durable objects, D1, hyperdrive, queues, cloudfare stream, cloudfare images, and cloudflare realtime; and consumer offerings, such as 1.1.1.1 DNS and with WARPm and cloudfare registrar that offers secure registration and management of domain names. The company serves customers in technology, healthcare, financial services, consumer and retail, industrial, and non-profit industries, as well as government. The company was incorporated in 2009 and is headquartered in San Francisco, California.
Company profile record
Cloudflare Inc
Common Stock · Information Technology · Application Software
Company
- Company / asset
- Cloudflare Inc
- Security type
- Common Stock
- Sector
- Information Technology
- Industry
- Application Software
- HQ
- 🇺🇸 United States
- Head office
- 101 Townsend Street, San Francisco, CA, United States, 94107
Leadership & scale
- Chief executive
- Mr. Matthew Prince J.D.
- CEO year born
- 1975
- Full-time employees
- 5.2K
- Fiscal year end
- December
- IPO date
- 2019-09-13
Fundamentals snapshot
- Market Cap
- USD 125.8B
- P/E
- --
- Revenue (Q2 26)
- USD 696.1M
- Profit (Q2 26)
- USD -170.0M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 2.2B
- Shares in public float
- 320.5M
- Insider ownership
- 0.62%
Reporting & identifiers
- Symbol
- NET.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US18915M1071
- Asset ID
- equity_6806a066-5267-5030-b741-8fd776bea2ca
Ownership
Shares Outstanding
Latest: 354.3M | Max: 354.3M | Min: 77.0M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
90.44%
320.5M latest reported shares
Insider Ownership
0.61%
Latest reported insider stake
Short Float
0.03%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 77,000,000 |
| 2018-01-01 | 251,085,000 |
| 2019-01-01 | 294,418,000 |
| 2020-01-01 | 303,813,000 |
| 2021-01-01 | 320,331,000 |
| 2022-01-01 | 328,326,000 |
| 2023-01-01 | 336,578,000 |
| 2024-01-01 | 344,003,000 |
| 2025-01-01 | 351,087,000 |
| 2026-01-01 | 354,334,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| Capital World Investors | 24,325,692 | 6.83% | 2026-06-30 |
| BlackRock Inc | 21,094,282 | 5.92% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 16,039,889 | 4.5% | 2026-03-31 |
| Morgan Stanley - Brokerage Accounts | 15,883,321 | 4.46% | 2026-03-31 |
| American Funds Growth Fd of Amer A | 15,816,291 | 4.44% | 2026-06-30 |
| Baillie Gifford & Co Limited. | 14,598,594 | 4.1% | 2026-06-30 |
| Vanguard Capital Management, LLC | 13,716,196 | 3.85% | 2026-03-31 |
| FMR Inc | 13,560,451 | 3.81% | 2026-03-31 |
| Capital Research & Mgmt Co - Division 3 | 10,981,005 | 3.08% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 10,154,950 | 2.85% | 2026-08-31 |
| State Street Corp | 7,178,719 | 2.02% | 2026-03-31 |
| Vanguard MStar Mid Cap Index Instl | 6,911,551 | 1.94% | 2026-08-31 |
| Geode Capital Management, LLC | 5,993,429 | 1.68% | 2026-03-31 |
| JPMorgan Chase & Co | 5,902,745 | 1.66% | 2026-03-31 |
| American Funds New Perspective A | 5,744,708 | 1.61% | 2026-06-30 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Cloudflare's financial results present a stark contrast between rapid revenue expansion and persistent accounting deficits. Second-quarter 2026 revenue jumped 36% year-over-year to $696 million, lifting trailing twelve-month revenue past $2.5 billion. However, reported GAAP operating losses widened to $354 million over the same period, heavily impacted by a $150.7 million restructuring charge from cutting roughly 20% of its workforce. Beneath these headline losses, operational cash generation shows meaningful underlying resilience. Trailing free cash flow reached $379 million, demonstrating that customers are paying real cash for network security. Nevertheless, much of this cash flow is flattered by employee stock compensation rather than clean net income, meaning true profitability remains an ongoing challenge.
Cloudflare's financial results present a stark contrast between rapid revenue expansion and persistent accounting deficits. Second-quarter 2026 revenue jumped 36% year-over-year to $696 million, lifting trailing twelve-month revenue past $2.5 billion. However, reported GAAP operating losses widened to $354 million over the same period, heavily impacted by a $150.7 million restructuring charge from cutting roughly 20% of its workforce. Beneath these headline losses, operational cash generation shows meaningful underlying resilience. Trailing free cash flow reached $379 million, demonstrating that customers are paying real cash for network security. Nevertheless, much of this cash flow is flattered by employee stock compensation rather than clean net income, meaning true profitability remains an ongoing challenge.
Revenue, Net Income, and Free Cash Flow
Latest: USD 2.2B | Max: USD 2.2B | Min: USD -260.3M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: --
No history available.
Profitability & Margins
Margins and Operating Efficiency
AI Review
Cloudflare's profit margins reflect a deep tension between strong product pricing and heavy operational overhead. Gross margins remain healthy at roughly 72% to 74%, showing that customers gladly pay premium rates for reliable web protection. However, this represents noticeable erosion from historical peaks near 78%, caused by rising electricity, bandwidth, and server costs associated with compute-heavy AI traffic. At the operating level, margins remain deeply negative under GAAP accounting at minus 14% over the trailing twelve months. High spending on engineering and enterprise sales continues to absorb gross profit. Achieving durable corporate profitability requires management to prove that workforce cuts will deliver lasting efficiency without slowing revenue growth.
Cloudflare's profit margins reflect a deep tension between strong product pricing and heavy operational overhead. Gross margins remain healthy at roughly 72% to 74%, showing that customers gladly pay premium rates for reliable web protection. However, this represents noticeable erosion from historical peaks near 78%, caused by rising electricity, bandwidth, and server costs associated with compute-heavy AI traffic. At the operating level, margins remain deeply negative under GAAP accounting at minus 14% over the trailing twelve months. High spending on engineering and enterprise sales continues to absorb gross profit. Achieving durable corporate profitability requires management to prove that workforce cuts will deliver lasting efficiency without slowing revenue growth.
Profitability Margins
Latest: 74.5% | Max: 78.7% | Min: -45.2%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
74.5%
Gross profit / revenue
Operating Margin
-9.6%
Operating income / revenue
Net Margin
-4.7%
Net income / revenue
FCF Margin
15.0%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 84,791,000 | -17,334,000 | -31,876,000 |
| 2017-12-31 | 134,915,000 | -10,748,000 | -19,808,000 |
| 2018-12-31 | 192,674,000 | -87,164,000 | -78,120,000 |
| 2019-12-31 | 287,022,000 | -105,828,000 | -96,196,000 |
| 2020-12-31 | 431,059,000 | -119,370,000 | -92,091,000 |
| 2021-12-31 | 656,426,000 | -260,309,000 | -43,090,000 |
| 2022-12-31 | 975,241,000 | -193,381,000 | -39,769,000 |
| 2023-12-31 | 1,296,745,000 | -183,949,000 | 119,464,000 |
| 2024-12-31 | 1,669,626,000 | -78,800,000 | 195,392,000 |
| 2025-12-31 | 2,167,937,000 | -102,267,000 | 324,319,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
No reported records are available in this preview.
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 71.74 | -20.08 | -20.44 | -37.59 |
| 2017-12-31 | 78.66 | -7.21 | -7.97 | -14.68 |
| 2018-12-31 | 77.4 | -44.06 | -45.24 | -40.55 |
| 2019-12-31 | 77.9 | -37.61 | -36.87 | -33.52 |
| 2020-12-31 | 76.56 | -24.77 | -27.69 | -21.36 |
| 2021-12-31 | 77.59 | -19.45 | -39.66 | -6.56 |
| 2022-12-31 | 76.15 | -20.63 | -19.83 | -4.08 |
| 2023-12-31 | 76.32 | -14.3 | -14.19 | 9.21 |
| 2024-12-31 | 77.32 | -9.27 | -4.72 | 11.7 |
| 2025-12-31 | 74.51 | -9.56 | -4.72 | 14.96 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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