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Cloudflare, Inc. NET Q4 2025 Annual earnings

Reported February 10, 2026 · After market close

Revenue$614.5MBeat by $23.2M
EPS$0.28Beat by $0.01
Revenue estimate$591.3M
EPS estimate$0.27

Next report

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

Financials

Q4 2025

Income statement

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Revenue$614.5M+33.6%
Gross profit$452.6M+28.8%
Operating income-$49.2M-41.8%
Net income-$12.1M+6.0%
EPS (diluted)-$0.03+25.0%

Balance sheet

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Cash & equivalents$954.4M+519%
Total debt$1.5B+778%
Total equity$1.5B+39.5%
Total assets$6.0B+82.9%

Cash flow

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Operating cash flow$190.4M+49.6%
CapEx$85.2M+16.5%
Free cash flow$105.2M+94.3%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$69.06B+86.9%
Enterprise value$69.65B+88.4%
P/S31.9×+9.7×

Profitability

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Gross margin74.5%-2.8pp
Operating margin-9.6%+0.3pp
Net margin-4.7%0.0pp
FCF margin13.3%+1.6pp

Returns & leverage

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Return on equity-8.2%-0.5pp
Debt / equity1.1×+0.9×
Current ratio2×-0.9×

Segments

By geography

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Europe, Middle East, and Africa$168.0M+30.9%
Asia Pacific$96.6M+50.0%
Other$46.3M+28.0%

By segment

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Reportable Segment$614.5M+33.6%

FAQ

When did Cloudflare, Inc. report Q4 2025 earnings?
Cloudflare, Inc. (NET) reported Q4 2025 earnings on February 10, 2026 after market close.
What were Cloudflare, Inc.'s Q4 2025 revenue and EPS?
Cloudflare, Inc. reported revenue of $614.5M and eps of $0.28 for Q4 2025.
Did Cloudflare, Inc. beat estimates in Q4 2025?
Revenue beat the consensus estimate of $591.3M by $23.2M. EPS beat the consensus estimate of $0.27 by $0.01.
How did Cloudflare, Inc.'s Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 33.6% from $459.9M a year earlier and eps grew 47.4% from $0.19.
Where can I find Cloudflare, Inc.'s Q4 2025 SEC filings?
You can read the 8-K earnings release (0001477333-26-000008) and the 10-K periodic report (0001477333-26-000016) directly on SEC EDGAR. The filing index links above go to sec.gov.