Business Segments — Cost Of Revenue, Adjusted
Cloudflare, Inc. Business Segments — Cost Of Revenue, Adjusted increased by 11.1% to $154.33M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 49.6%, from $103.15M to $154.33M. Over 3 years (FY 2022 to FY 2025), Business Segments — Cost Of Revenue, Adjusted shows an upward trend with a 35.2% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
A decrease relative to revenue suggests improved operational efficiency and better economies of scale in service delivery.
Detailed definition
This metric captures the direct costs associated with delivering the segment's services, excluding non-cash items like s...
Peer comparison
Similar to adjusted cost of goods sold or cost of services in cloud and software-as-a-service companies.
net_segment_reportable_segment_cost_of_revenue_adjustedHistorical Data
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $53.10M | $53.10M | $53.10M | $53.10M | $70.24M | $70.24M | $70.24M | $70.24M | $77.53M | $84.38M | $90.97M | $103.15M | $109.82M | $121.66M | $138.95M | $154.33M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +32.3% | +0.0% | +0.0% | +0.0% | +10.4% | +8.8% | +7.8% | +13.4% | +6.5% | +10.8% | +14.2% | +11.1% |
| YoY Change | — | — | — | — | +32.3% | +32.3% | +32.3% | +32.3% | +10.4% | +20.1% | +29.5% | +46.9% | +41.7% | +44.2% | +52.7% | +49.6% |
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Frequently Asked Questions
- What is Cloudflare, Inc.'s business segments — cost of revenue, adjusted?
- Cloudflare, Inc. (NET) reported business segments — cost of revenue, adjusted of $154.33M in Q4 2025.
- How has Cloudflare, Inc.'s business segments — cost of revenue, adjusted changed year-over-year?
- Cloudflare, Inc.'s business segments — cost of revenue, adjusted increased by 49.6% year-over-year, from $103.15M to $154.33M.
- What is the long-term trend for Cloudflare, Inc.'s business segments — cost of revenue, adjusted?
- Over 3 years (2022 to 2025), Cloudflare, Inc.'s business segments — cost of revenue, adjusted has grown at a 35.2% compound annual growth rate (CAGR), from $212.40M to $524.75M.
- What does business segments — cost of revenue, adjusted mean?
- The direct costs incurred to provide the segment's services, excluding certain non-cash expenses.