What is Cloudflare, Inc.'s R&D?

Cloudflare, Inc. (NET) reported R&D of $150.97M in Q1 2026.

How has Cloudflare, Inc.'s R&D changed year-over-year?

Cloudflare, Inc.'s R&D increased by 31.2% year-over-year, from $115.09M to $150.97M.

What is the long-term trend for Cloudflare, Inc.'s R&D?

Over 4 years (2021 to 2025), Cloudflare, Inc.'s R&D has grown at a 28.3% compound annual growth rate (CAGR), from $189.41M to $512.49M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Cloudflare, Inc. NET R&D

R&D at other companies

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$8.92B+8.7%

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$151.04M+10.6%

Netscout SystemsNTCT

$39.77M+8.3%

VirnetX Holding Corp VHC

$1.16M-7.7%

Akamai TechnologiesAKAM

$141.58M+14.6%

Palo Alto Networks, Inc.PANW

$734M+48.6%

Other financials

Income statement

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Revenue$639.8M+33.5%

Gross profit$455.6M+25.3%

Operating income-$62.0M-16.4%

Net income-$22.9M+40.4%

EPS (diluted)-$0.07+36.4%

Balance sheet

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Cash & equivalents$944.4M+347%

Total debt$256.7M+36.9%

Total equity$1.5B+7.1%

Total assets$6.2B+65.6%

Cash flow

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Operating cash flow$158.3M+8.6%

CapEx$65.2M-24.1%

Free cash flow$93.1M+55.4%

Valuation

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Market cap$87.06B+30.0%

Enterprise value$86.37B+31.6%

P/S37.4×+1.8×

Profitability

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Gross margin73.3%-3.6pp

Operating margin-9.3%+0.7pp

Net margin-3.7%-0.6pp

FCF margin13.8%+1.7pp

Returns & leverage

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Return on equity-5.9%-1.0pp

Debt / equity0.2×0.0×

Current ratio2×-1.2×

Where this comes from

Reported directly by Cloudflare, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Cloudflare, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cloudflare, Inc.'s R&D?: Cloudflare, Inc. (NET) reported R&D of $150.97M in Q1 2026.
How has Cloudflare, Inc.'s R&D changed year-over-year?: Cloudflare, Inc.'s R&D increased by 31.2% year-over-year, from $115.09M to $150.97M.
What is the long-term trend for Cloudflare, Inc.'s R&D?: Over 4 years (2021 to 2025), Cloudflare, Inc.'s R&D has grown at a 28.3% compound annual growth rate (CAGR), from $189.41M to $512.49M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.