Income StatementBalance SheetCash FlowSegments
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Cloudflare, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

Cloudflare, Inc. generated $615.7M in operating cash flow over the trailing twelve months. After $295.0M in capital expenditures, free cash flow was $320.7M. Free cash flow increased 0.5% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$615.7MNet Cash From Investing (TTM)-$1.9BNet Cash From Financing (TTM)-$27.4MCapital Expenditures (TTM)$295.0MDepreciation And Amortization Cf (TTM)$205.3MNet Change In Cash (TTM)-$6.7M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$76.4B
ROE-5.88%

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures incurred but not yet paid$20.8M$46.0M$5.1M——$20.9M
Interest paid$5.0K$2.0K$7.0K$15.0K$5.0K$28.0K
Capital expenditures incurred but not yet paid$20.8M$46.0M$5.1M——$20.9M
Capital Expenditures Incurred but Not Yet Paid$20.8M$46.0M$5.1M——$20.9M
ROU Asset Obtained for Lease Liability$28.6M$22.2M$24.1M$51.5M$32.4M$23.9M
Cash paid for operating lease liabilities$14.8M$15.5M$16.9M$16.9M$21.6M$21.2M
Income Taxes Paid, Net$971.0K$1.0M$2.5M$2.3M$1.9M$2.3M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of Investment Discount and Premium$8.1M$6.4M$5.6M$9.6M$8.4M$7.4M
Accretion (amortization) of discounts and premiums on investments$8.1M$6.4M$5.6M$9.6M$8.4M$7.4M
Change in accounts payable$10.8M-$842.0K$595.0K-$4.1M$13.2M-$17.3M
Change in accounts receivable$66.5M-$27.2M$25.7M$49.3M$32.7M-$1.4M
Change in deferred revenue$88.1M$35.8M$46.9M$62.4M$78.8M$69.7M
Change in other assets-$1.5M-$5.1M—-$130.0K-$2.4M-$6.4M
Other working capital changes$282.0K$507.0K$2.7M-$153.0K-$3.1M-$4.5M
Benefit from Receivables$2.7M$3.3M$4.5M$5.0M$2.2M$1.5M
Deferred income taxes$3.4M-$156.0K-$324.0K$0.0$1.8M-$800.0K
Depreciation and amortization$36.2M$42.2M$45.5M$49.5M$52.6M$57.8M
Accretion (Amortization) of Investment Discounts and Premiums$8.1M$6.4M$5.6M$9.6M$8.4M$7.4M
Amortization of Contract Acquisition Assets$21.1M$23.1M$24.2M$26.4M$27.9M$31.0M
Change in other non-current liabilities$103.0K$262.0K-$280.0K$216.0K-$1.3M-$281.0K
Net cash from operating activities$127.3M$145.8M$99.8M$167.1M$190.4M$158.3M
Net income-$12.8M-$38.5M-$50.4M-$1.3M-$12.1M-$22.9M
Accretion (Amortization) of Discounts and Premiums, Investments$8.1M$6.4M$5.6M$9.6M$8.4M$7.4M
Amortization expense related to capitalized debt issuance costs$989.8K$990.0K———$2.4M
Amortization of costs capitalized to obtain revenue contracts, net$21.1M$23.1M$24.2M$26.4M$27.9M$31.0M
Accrued expenses and other liabilities$2.3M$12.2M—$16.9M—$9.5M
Increase (Decrease) In Capitalized Contract Cost$41.0M$25.5M$33.5M$36.5M$53.4M$37.0M
Increase (Decrease) in Contract with Customer, Asset$3.1M-$580.0K$5.3M$1.4M—$631.0K
Accrued compensation and employee benefits$15.1M-$4.4M$1.5M$12.3M$17.3M-$7.6M
Operating lease liabilities-$19.2M-$12.7M-$12.3M-$17.0M-$21.8M-$23.0M
Other long-term liabilities$103.0K$262.0K-$280.0K$216.0K-$1.3M-$281.0K
Increase (Decrease) in Prepaid Expense and Other Assets$12.9M$27.3M$19.1M$15.9M$17.7M$34.5M
Non-cash operating lease costs$13.9M$14.7M$15.2M$17.3M$19.2M$20.3M
Accounts Receivable, Credit Loss Expense (Reversal)$2.7M$3.3M$4.5M$5.0M$2.2M$1.5M
Accretion (Amortization) of Investment Discounts and Premiums$8.1M$6.4M$5.6M$9.6M$8.4M$7.4M
Stock-based compensation$94.5M$95.5M$122.4M$109.9M$123.6M$114.2M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$73.2M$85.9M$59.9M$84.6M$85.2M$65.2M
Payment for (Proceeds from) Other Investing Activity-$9.0K-$238.0K-$144.0K-$297.0K-$1.1M-$549.0K
Payments To Acquire Business And Assets, Net Of Cash Acquired$23.0M$4.9M$1.6M$0.0$44.4M$9.1M
Payments to Acquire Intangible Assets$6.4M$7.0M$6.6M$7.5M$5.8M$9.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$320.3M$408.8M$402.1M$518.1M$793.0M$693.2M
Net cash from investing activities-$167.0M-$92.4M-$793.0M-$629.5M-$291.7M-$158.8M
Purchases of investments$384.8M$403.7M$1.1B$1.1B$950.5M$769.1M
Payments for Deposits$6.4M$7.0M$6.6M$7.5M$5.8M$9.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payment Of Indemnity Holdback$1.0M$0.0———$100.0K
Net cash from financing activities$8.0M$3.5M$2.0B——-$9.5M
Proceeds from issuance of common stock$9.3M$11.2M$1.8M$0.0$12.4M$5.7M
Taxes paid for net share settlement$4.2M$7.7M$10.5M$14.0M$16.1M$15.1M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$54.2M$59.9M$39.9M$82.5M$105.2M$93.1M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash—$56.9M$1.3B——-$9.9M
Accrued payables for capital expenditures$20.8M$46.0M$5.1M——$20.9M
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount$2.3M$2.5M$2.3M$2.8M$4.4M$3.7M
Reclassification of the 2025 Capped Calls from equity to derivative asset—$308.3M———$0.0
Leased assets obtained in exchange for operating lease liabilities$28.6M$22.2M$24.1M$51.5M$32.4M$23.9M