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Companies / Information Technology / Cloudflare, Inc.
NET

Cloudflare, Inc.

Information TechnologyPrepackaged Software
Ticker NETSAN FRANCISCO, CAFiscal year ends DecemberBook value per share $4.58Diluted shares 353.5M

Cloudflare, Inc. (NYSE: NET) operates a global connectivity cloud platform designed to help organizations build a better Internet. The company's mission centers on delivering security, performance, and reliability services across on-premises, hybrid, cloud, and software-as-a-service environments. Cloudflare's website… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$2.17BFY2025
+29.8% year over year
Last 12 mo $2.51B
-9.56%FY2025
−0.3 percentage points
Last 12 mo -14.11%
$-102.27MFY2025
−29.8% year over year
Last 12 mo $-206.27M
-7.01%FY2025
+0.5 percentage points
Last 12 mo -12.73%
Cash & financing
$603.11MFY2025
+58.5% year over year
Last 12 mo $633.43M
$260.56MFY2025
+56.1% year over year
Last 12 mo $314.87M
2.24FY2025
Was 1.23× a year earlier
Last 12 mo 2.02
348.4MFY2025
+2.1% year over year
Last 12 mo 353.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Cloudflare, Inc. does

In the company’s own words

Cloudflare, Inc. (NYSE: NET) operates a global connectivity cloud platform designed to help organizations build a better Internet. The company's mission centers on delivering security, performance, and reliability services across on-premises, hybrid, cloud, and software-as-a-service environments. Cloudflare's website is www.cloudflare.com.

The company's core technology is built on a distributed, serverless network architecture spanning more than 330 cities across over 125 countries, interconnecting with more than 13,000 networks globally. This efficient infrastructure enables rapid product deployment and scaling while reducing operating costs through commodity hardware powered by proprietary software.

Cloudflare's product portfolio comprises four primary categories. Application Services protect Internet properties from attacks while optimizing performance through web application firewalls, bot management, DDoS mitigation, API security, and content delivery solutions. The Secure Access Service Edge platform combines Zero Trust security and network services to help organizations connect and protect corporate infrastructure without legacy hardware. Developer-based Solutions enable customers to build serverless and AI applications on Cloudflare's network through products like Cloudflare Workers, storage services, and AI tools. Consumer Offerings include the 1.1.1.1 DNS resolver and WARP virtual private network, which serve as both standalone products and marketing channels for the business.

As of December 31, 2025, Cloudflare served approximately 332,000 paying customers across more than 190 countries, with large customers growing from 2,756 in 2023 to 4,298 in 2025. The company employs 5,156 full-time employees, with 2,452 located outside the United States. No single customer represents more than 10 percent of revenue.

Cloudflare's go-to-market strategy combines direct sales, indirect channels through managed service providers and resellers, and self-service web offerings. The company competes against on-premises hardware vendors, point solution providers, and public cloud vendors by offering integrated infrastructure combining security, performance, and reliability through a single vendor with global network coverage and independence from any single cloud provider.

Company details
Sector
Information Technology
Industry (SIC)
Prepackaged Software
Headquarters
SAN FRANCISCO, CA
Fiscal year end
December
CIK
1477333
SIC
7372

Financial performance, year by year

Fiscal 2019–2025 · USD
$-537.57M$294.22M$1.13B$1.96B$2.79B2019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Cloudflare, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

699
funds hold it
0 of 35
superinvestors hold it
$30.73B
held by funds, at market
39.9%
of shares held by funds
3
bond issues held by funds

Largest fund holders · Cloudflare, Inc.’s weight in each

1.02%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.11%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.76%of fund net assets
0.83%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.92%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Cloudflare, Inc.’s bonds, as funds hold them

Funds report holding 3 issues of Cloudflare, Inc.’s debt, $674.64M at market value — what funds hold, not the company’s total debt.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Cloudflare, Inc. and its peers compare on margins and cash generation over ten years?”
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