Cloudflare, Inc.
223.99-1.12 (-0.5%)
Oct 28, 4:03:17 PM EDT · NYSE · NET · USD
Key Stats
Market Cap
78.06BP/E (TTM)
-Basic EPS (TTM)
-0.34Dividend Yield
0%Recent Filings
8-K
Cloudflare Q2 revenue surges 28%
Cloudflare reported Q2 2025 revenue of $512.3 million, up 28% year-over-year, surpassing $2 billion in annualized revenue while reaccelerating growth. GAAP operating loss widened to $67.3 million amid rising expenses, yet non-GAAP income from operations hit $72.3 million. Demand surges from large customers fuel bigger deals. Q3 revenue guidance: $543.5–$544.5 million. Forward-looking results may differ due to macroeconomic risks.
10-Q
Q2 FY2025 results
Cloudflare's Q2 revenue surged 28% year-over-year to $512.3M, with gross margin dipping to 75% from 78% amid higher network costs, while operating loss widened to $67.3M from $34.7M due to 31% R&D and 39% G&A growth from headcount adds. YTD revenue climbed 27% to $991.4M, with operating loss at $120.5M versus $89.2M last year; diluted EPS fell to $(0.15) from $(0.04), reconciling to 347.5M shares. Cash from operations hit $245.6M YTD, yielding $86.1M free cash flow after $159.4M capex (derived), bolstering liquidity to $1.5B cash plus $2.4B investments, offset by $3.3B convertible notes due 2026/2030 at 0% interest. The June 2025 $2B notes issuance funded capped calls and growth, with $400M revolver untapped. Yet competition intensifies from bundled cloud giants.
8-K
Cloudflare issues $2B convertible notes
Cloudflare issued $2.0 billion in 0% convertible senior notes due 2030 on June 17, 2025, netting $1.971 billion after fees, with $283.4 million allocated to capped call transactions that cap dilution at a $469.73 share price. The notes convert at $247.67 per share, a 45% premium to the June 12 closing price of $170.81, maturing June 15, 2030, with no early redemption before June 20, 2028. Proceeds fund general corporate needs like acquisitions. Yet leverage eases via credit agreement tweaks.
8-K
Annual meeting results
Cloudflare's stockholders overwhelmingly elected Stacey Cunningham, Mark Hawkins, and Carl Ledbetter as Class III directors at the June 5, 2025, annual meeting, with votes heavily favoring all nominees despite some withheld shares for Ledbetter. They ratified KPMG LLP as auditors for the fiscal year ending December 31, 2025, and approved executive compensation on an advisory basis. Board continuity holds firm. No major governance shifts emerged.
10-Q
Q1 FY2025 results
Cloudflare's Q1 FY2025 revenue jumped 27% y/y to $479.1M, fueled by 27% growth in paying customers to 250,819 and a 111% dollar-based net retention rate, while gross margin dipped slightly to 75.9% amid higher co-location and bandwidth costs. Operating loss narrowed to $53.2M from $54.6M y/y, with non-GAAP operating income rising to $56.0M (11.7% margin) after excluding $95.5M in stock-based compensation. Diluted EPS improved to -$0.11 from -$0.10, reconciling to 345.7M weighted shares; free cash flow strengthened to $52.9M (11.0% margin) from $35.6M, supported by $145.8M in operating cash flow. Cash and equivalents stood at $204.5M, with $1.7B in available-for-sale securities and $1.3B in 0% convertible notes due 2026 (maturing August 2026); the $400M revolver remains undrawn with no covenants breached. Yet intense competition from on-premises and cloud rivals pressures pricing and market share.
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