Cloudflare, Inc.
For the period ended Mar 31, 2026. Filed May 8, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
NET$305.80+4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash Flows from Operating Activities | ||
| Net loss | $(22,927) | $(38,454) |
| Adjustments to reconcile net loss to cash provided by operating activities: | ||
| Depreciation and amortization expense | 57,814 | 42,207 |
| Non-cash operating lease costs | 20,266 | 14,657 |
| Amortization of deferred contract acquisition costs | 30,980 | 23,132 |
| Stock-based compensation expense | 114,241 | 95,535 |
| Amortization of debt issuance costs | 2,426 | 990 |
| Net accretion of discounts and amortization of premiums on available-for-sale securities | (7,360) | (6,372) |
| Deferred income taxes | (800) | (156) |
| Provision for bad debt | 1,501 | 3,274 |
| Other | (4,483) | 507 |
| Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations: | ||
| Accounts receivable, net | 1,401 | 27,160 |
| Contract assets | (631) | 580 |
| Deferred contract acquisition costs | (36,962) | (25,458) |
| Prepaid expenses and other current assets | (34,518) | (27,289) |
| Other noncurrent assets | 6,393 | 5,118 |
| Accounts payable | (17,298) | (842) |
| Accrued expenses and other current liabilities | 9,506 | 12,219 |
| Accrued compensation | (7,610) | (4,397) |
| Operating lease liabilities | (23,004) | (12,678) |
| Deferred revenue | 69,676 | 35,789 |
| Other noncurrent liabilities | (281) | 262 |
| Net cash provided by operating activities | 158,330 | 145,784 |
| Cash Flows from Investing Activities | ||
| Purchases of property and equipment | (65,231) | (85,889) |
| Capitalized internal-use software | (9,025) | (7,028) |
| Asset acquisitions and business combinations, net of cash acquired | (9,134) | (4,856) |
| Purchases of available-for-sale securities | (769,117) | (403,672) |
| Maturities of available-for-sale securities | 693,152 | 408,769 |
| Other investing activities | 549 | 238 |
| Net cash used in investing activities | (158,806) | (92,438) |
| Cash Flows from Financing Activities | ||
| Proceeds from the exercise of stock options | 5,703 | 11,229 |
| Payment of tax withholding obligation on RSU and PSU settlement | (15,071) | (7,707) |
| Payment of indemnity holdback | (100) | — |
| Net cash provided by (used in) financing activities | (9,468) | 3,522 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (9,944) | 56,868 |
| Cash, cash equivalents, and restricted cash, beginning of period | 954,357 | 154,214 |
| Cash, cash equivalents, and restricted cash, end of period | $944,413 | $211,082 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Cash paid for interest | $28 | $2 |
| Cash paid for income taxes, net of refunds | $2,343 | $1,030 |
| Cash paid for operating lease liabilities | $21,216 | $15,474 |
| Supplemental Disclosure of Non-cash Investing and Financing Activities: | ||
| Stock-based compensation capitalized for software development and cloud computing arrangements | $3,681 | $2,529 |
| Accounts payable and accrued expenses related to property and equipment additions | $20,928 | $46,032 |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $23,911 | $22,209 |
| Reclassification of the 2025 Capped Calls from equity to derivative asset | $— | $308,299 |
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