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Cloudflare, Inc. NET Q1 2026 Annual earnings

Reported May 7, 2026 · After market close

Revenue$639.8MBeat by $18.9M
EPS$0.25Beat by $0.02
Revenue estimate$620.8M
EPS estimate$0.23
“We had a very strong start to 2026. AI is driving a fundamental re-platforming of the Internet and a paradigm shift in how software is created and consumed; it's shaping up to be the biggest tailwind we’ve ever seen in Cloudflare’s history, At Cloudflare, we don’t just build and sell AI tools and platforms, we're our own most demanding customer. With AI and agents now core parts of our workforce, the way we work at Cloudflare has fundamentally changed. As a result, we're being intentional in how we architect our company to supercharge the value we deliver to our customers. By embracing an agentic AI-first operating model, Cloudflare will be even faster and more innovative as we continue to help build a better Internet.”
Matthew Prince

Next report

Oct 29, 2026 (In 3 weeks)
Revenue estimate$736.8M
EPS estimate$0.34

Financials

Q1 2026

Income statement

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Revenue$639.8M+33.5%
Gross profit$455.6M+25.3%
Operating income-$62.0M-16.4%
Net income-$22.9M+40.4%
EPS (diluted)-$0.07+36.4%

Balance sheet

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Cash & equivalents$944.4M+347%
Total debt$256.7M+36.9%
Total equity$1.5B+7.1%
Total assets$6.2B+65.6%

Cash flow

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Operating cash flow$158.3M+8.6%
CapEx$65.2M-24.1%
Free cash flow$93.1M+55.4%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$72.63B+86.8%
Enterprise value$71.94B+85.1%
P/S31.2×+9.2×

Profitability

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Gross margin73.3%-3.6pp
Operating margin-9.3%+0.7pp
Net margin-3.7%-0.6pp
FCF margin13.8%+1.7pp

Returns & leverage

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Return on equity-5.9%-1.0pp
Debt / equity0.2×0.0×
Current ratio2×-1.2×

Segments

By geography

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Europe, Middle East, and Africa$175.7M+31.2%
Asia Pacific$98.6M+34.4%
Other$49.6M+34.2%

By segment

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Reportable Segment$639.8M+33.5%

FAQ

When did Cloudflare, Inc. report Q1 2026 earnings?
Cloudflare, Inc. (NET) reported Q1 2026 earnings on May 7, 2026 after market close.
What were Cloudflare, Inc.'s Q1 2026 revenue and EPS?
Cloudflare, Inc. reported revenue of $639.8M and eps of $0.25 for Q1 2026.
Did Cloudflare, Inc. beat estimates in Q1 2026?
Revenue beat the consensus estimate of $620.8M by $18.9M. EPS beat the consensus estimate of $0.23 by $0.02.
How did Cloudflare, Inc.'s Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 33.5% from $479.1M a year earlier and eps grew 56.3% from $0.16.
Where can I find Cloudflare, Inc.'s Q1 2026 SEC filings?
You can read the 8-K earnings release (0001477333-26-000033) and the 10-K/A periodic report (0001477333-26-000026) directly on SEC EDGAR. The filing index links above go to sec.gov.