stockrowCloudflare, Inc.
NET Technology Software Infrastructure
Cloudflare, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.2 billion, up 29.8% from fiscal 2024.
- Revenue
- +39.2%
- EPS
- −2,602.7%
- Free cash flow
- +9.48%
- Total debt
- +125.2%
Quarter to September 2026, against a year earlier
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Cloudflare, Inc. (NET) Gross margin
Cloudflare, Inc.'s gross margin over the twelve months to 30 September 2026 was 71.9%, down 2.6 percentage points from fiscal 2025 (74.5%). Over the past ten years it has ranged from 71.7% (fiscal 2016) to 78.7% (fiscal 2017); the current reading is higher than 20% of that period. That is above the Software Infrastructure industry median of 57.5% and above the Technology sector median of 46.9%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 74.5% | (2.81) |
| FY2024 | 77.3% | 1.00 |
| FY2023 | 76.3% | 0.17 |
| FY2022 | 76.2% | (1.44) |
| FY2021 | 77.6% | 1.03 |
| FY2020 | 76.6% | (1.34) |
| FY2019 | 77.9% | 0.50 |
| FY2018 | 77.4% | (1.26) |
| FY2017 | 78.7% | 6.92 |
| FY2016 | 71.7% | — |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 71.2% | (0.55) |
| Jun 2026 | 71.8% | 0.55 |
| Mar 2026 | 71.2% | (2.43) |
| Dec 2025 | 73.6% | (0.33) |
| 28 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| FTNT Fortinet, Inc. compare | 79.8% |
| OKTA Okta, Inc. compare | 78.1% |
| ZS Zscaler, Inc. compare | 76.8% |
| CRWD CrowdStrike compare | 75.2% |
| NBIS Nebius Group N.V. compare | 74.3% |
| SNPS Synopsys, Inc. compare | 72.4% |
| NET Cloudflare, Inc. | 71.9% |
| NTAP NetApp, Inc. compare | 70.6% |
| XYZ Block, Inc. compare | 47.5% |
| Software Infrastructure industry median | 57.5% |
| Technology sector median | 46.9% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
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