What is Cloudflare, Inc.'s shares (diluted)?

Cloudflare, Inc. (NET) reported shares (diluted) of 352.6M in Q1 2026.

How has Cloudflare, Inc.'s shares (diluted) changed year-over-year?

Cloudflare, Inc.'s shares (diluted) increased by 2.0% year-over-year, from 345.7M to 352.6M.

What does shares (diluted) mean?

The total number of shares that would exist if all 'potential' shares, like employee stock options, were converted into real stock.

Earnings Per Share

Shares (Diluted)

Cloudflare, Inc. Shares (Diluted) increased by 0.9% to 352.6M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 2.0%, from 345.7M to 352.6M. This increase may warrant attention — for this metric, lower values are generally preferred.

Analysis

StatementIncome Statement

SectionEarnings Per Share

CategoryCapital Allocation

SignalLower is better

VolatilityStable

First reportedQ1 2013

Last reportedQ1 2026

How to read this metric

An increase relative to basic shares indicates a higher reliance on equity-based compensation or convertible debt financing.

Detailed definition

Weighted-average shares outstanding (diluted) includes the total number of basic common shares plus all additional share...

Peer comparison

Commonly compared against basic shares to determine the 'dilution overhang' present in a company's capital structure.

Metric ID: is_weighted_shares_diluted

Historical Data

15 periods

	Q2 '21	Q3 '21	Q1 '22	Q2 '22	Q3 '22	Q1 '23	Q2 '23	Q3 '23	Q1 '24	Q2 '24	Q3 '24	Q1 '25	Q2 '25	Q3 '25	Q1 '26
Value	308.3M	314.5M	323.3M	325.2M	326.6M	330.4M	332.3M	334.7M	338.6M	340.6M	342.4M	345.7M	347.5M	349.3M	352.6M
QoQ Change	—	+2.0%	+2.8%	+0.6%	+0.4%	+1.2%	+0.6%	+0.7%	+1.2%	+0.6%	+0.5%	+1.0%	+0.5%	+0.5%	+0.9%
YoY Change	—	—	—	+5.5%	+3.8%	+2.2%	+2.2%	+2.5%	+2.5%	+2.5%	+2.3%	+2.1%	+2.0%	+2.0%	+2.0%

Range308.3M – 352.6M

CAGR+3.9%

Avg YoY Growth+2.6%

Median YoY Growth+2.2%

Current Streak14+ quarters growth

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Frequently Asked Questions

What is Cloudflare, Inc.'s shares (diluted)?: Cloudflare, Inc. (NET) reported shares (diluted) of 352.6M in Q1 2026.
How has Cloudflare, Inc.'s shares (diluted) changed year-over-year?: Cloudflare, Inc.'s shares (diluted) increased by 2.0% year-over-year, from 345.7M to 352.6M.
What does shares (diluted) mean?: The total number of shares that would exist if all 'potential' shares, like employee stock options, were converted into real stock.