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Cloudflare, Inc. NET Q2 2025 earnings

Reported July 31, 2025 · After market close

Revenue$512.3MBeat by $11.0M
EPS$0.21Beat by $0.03
Revenue estimate$501.3M
EPS estimate$0.18

Next report

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

Financials

Q2 2025

Income statement

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Revenue$512.3M+27.8%
Gross profit$383.6M+23.0%
Operating income-$67.3M-93.9%
Net income-$50.4M-235%
EPS (diluted)-$0.15-275%

Balance sheet

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Cash & equivalents$1.5B+853%
Total debt$201.6M+31.6%
Total equity$1.2B+40.6%
Total assets$5.6B+90.7%

Cash flow

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Operating cash flow$99.8M+33.4%
CapEx$59.9M+102%
Free cash flow$39.9M-11.7%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$64.62B+130%
Enterprise value$63.29B+126%
P/S34.3×+15.4×

Profitability

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Gross margin76.1%-1.2pp
Operating margin-9.9%-1.3pp
Net margin-6.2%-0.6pp
FCF margin11.1%-1.2pp

Returns & leverage

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Return on equity-11%-1.7pp
Debt / equity0.2×0.0×
Current ratio5.1×+1.6×

Segments

By geography

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Europe, Middle East, and Africa$143.4M+29.3%
Asia Pacific$75.1M+44.2%
Other$41.8M+35.4%

By segment

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Reportable Segment$512.3M+27.8%

FAQ

When did Cloudflare, Inc. report Q2 2025 earnings?
Cloudflare, Inc. (NET) reported Q2 2025 earnings on July 31, 2025 after market close.
What were Cloudflare, Inc.'s Q2 2025 revenue and EPS?
Cloudflare, Inc. reported revenue of $512.3M and eps of $0.21 for Q2 2025.
Did Cloudflare, Inc. beat estimates in Q2 2025?
Revenue beat the consensus estimate of $501.3M by $11.0M. EPS beat the consensus estimate of $0.18 by $0.03.
How did Cloudflare, Inc.'s Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 27.8% from $401.0M a year earlier and eps grew 5.0% from $0.20.
Where can I find Cloudflare, Inc.'s Q2 2025 SEC filings?
You can read the 8-K earnings release (0001477333-25-000136) and the 10-Q periodic report (0001477333-25-000137) directly on SEC EDGAR. The filing index links above go to sec.gov.