Cloudflare, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
NET$305.80+4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(in thousands, except par value)
| December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $943,536 | $147,691 |
| Available-for-sale securities | 3,157,715 | 1,708,228 |
| Accounts receivable, net | 382,488 | 316,753 |
| Contract assets | 23,531 | 16,568 |
| Restricted cash short-term | 9,364 | 4,273 |
| Prepaid expenses and other current assets | 128,203 | 75,484 |
| Total current assets | 4,644,837 | 2,268,997 |
| Property and equipment, net | 618,691 | 467,420 |
| Goodwill | 226,563 | 181,087 |
| Acquired intangible assets, net | 41,799 | 21,865 |
| Operating lease right-of-use assets | 237,646 | 168,379 |
| Deferred contract acquisition costs, noncurrent | 219,499 | 172,217 |
| Restricted cash | 1,457 | 2,250 |
| Other noncurrent assets | 45,764 | 18,947 |
| Total assets | $6,036,256 | $3,301,162 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $84,115 | $105,807 |
| Accrued expenses and other current liabilities | 109,054 | 81,602 |
| Accrued compensation | 111,005 | 80,854 |
| Operating lease liabilities | 70,901 | 47,626 |
| Deferred revenue | 684,207 | 477,765 |
| Current portion of convertible senior notes, net | 1,291,281 | — |
| Total current liabilities | 2,350,563 | 793,654 |
| Convertible senior notes, net | 1,974,120 | 1,287,321 |
| Operating lease liabilities, noncurrent | 182,025 | 128,266 |
| Deferred revenue, noncurrent | 41,088 | 22,095 |
| Other noncurrent liabilities | 29,337 | 23,625 |
| Total liabilities | 4,577,133 | 2,254,961 |
| Commitments and contingencies (Note 8) | ||
| Stockholders’ Equity | ||
| Class A common stock; $0.001 par value; 2,250,000 shares authorized as of December 31, 2025 and 2024; 317,319 and 307,892 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 317 | 307 |
| Class B common stock; $0.001 par value; 315,000 shares authorized as of December 31, 2025 and 2024; 34,568 and 36,963 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 34 | 37 |
| Additional paid-in capital | 2,651,420 | 2,152,750 |
| Accumulated deficit | (1,204,907) | (1,102,640) |
| Accumulated other comprehensive income (loss) | 12,259 | (4,253) |
| Total stockholders’ equity | 1,459,123 | 1,046,201 |
| Total liabilities and stockholders’ equity | $6,036,256 | $3,301,162 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.