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Cloudflare, Inc. NET Q2 2026 earnings

Reported August 5, 2026 · After market close

Revenue$696.1MBeat by $31.4M
Adjusted EPS$0.29Beat by $0.02
Revenue estimate$664.7M
EPS estimate$0.27
“We delivered a stellar second quarter, highlighted by revenue accelerating to $696.1 million, up 36% year-over-year, and record growth in total paying customers, large customers, and developers on our platform. As the web shifts to AI answer engines and agent-driven commerce, we are seeing a fundamental rewrite of the Internet for machine-to-machine traffic. Cloudflare sits at the center of this paradigm shift—building the infrastructure, controls, developer tools, and payment rails for the Agentic Internet. The business model of the web is changing, and no company is better positioned than Cloudflare to help define its future.”
Matthew Prince

Next report

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

Financials

Q2 2026

Income statement

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Revenue$696.1M+35.9%
Gross profit$499.5M+30.2%
Operating income-$205.7M-206%
Net income-$170.0M-237%
EPS (diluted)-$0.48-220%

Balance sheet

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Cash & equivalents$1.7B+9.9%
Total debt$1.6B+670%
Total equity$1.6B+30.7%
Total assets$6.5B+16.4%

Cash flow

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Operating cash flow$117.6M+17.8%
CapEx$50.0M-16.6%
Free cash flow$67.6M+69.4%

Valuation & ratios

Valuation

as of 10/02/26
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Market cap$124.98B+59.7%
Enterprise value$124.86B+61.2%
P/S49.8×+10.9×

Profitability

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Gross margin72.6%-3.6pp
Operating margin-14.1%+10.5pp
Net margin-8.2%+3.9pp
FCF margin13.9%+2.8pp

Returns & leverage

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Return on equity-14.4%+6.4pp
Debt / equity1×+0.8×
Current ratio1.8×-3.3×

Segments

By geography

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Europe, Middle East, and Africa$187.0M+30.4%
Asia Pacific$99.4M+32.3%
Other$55.1M+31.8%

By segment

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Reportable Segment$696.1M+35.9%

FAQ

When did Cloudflare, Inc. report Q2 2026 earnings?
Cloudflare, Inc. (NET) reported Q2 2026 earnings on August 5, 2026 after market close.
What were Cloudflare, Inc.'s Q2 2026 revenue and EPS?
Cloudflare, Inc. reported revenue of $696.1M and adjusted eps of $0.29 for Q2 2026.
Did Cloudflare, Inc. beat estimates in Q2 2026?
Revenue beat the consensus estimate of $664.7M by $31.4M. EPS beat the consensus estimate of $0.27 by $0.02.
How did Cloudflare, Inc.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 35.9% from $512.3M a year earlier.
Where can I find Cloudflare, Inc.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0001477333-26-000053) and the 10-Q periodic report (0001477333-26-000054) directly on SEC EDGAR. The filing index links above go to sec.gov.