Cloudflare, Inc.

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

About this filing

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.

Jun 30, 2026 · Filed Aug 6, 2026

NET$305.80+4.1%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Cash Flows for the

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended June 30,
	2026	2025
Cash Flows from Operating Activities
Net loss	$(192,908)	$(88,900)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization expense	123,170	87,688
Non-cash operating lease costs	41,696	29,872
Amortization of deferred contract acquisition costs	63,486	47,296
Stock-based compensation expense	274,113	217,912
Amortization of debt issuance costs	4,865	2,189
Net accretion of discounts and amortization of premiums on available-for-sale securities	(13,233)	(11,987)
Deferred income taxes	(7,013)	(480)
Provision for bad debt	5,157	7,815
Other	(6,814)	3,227
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations:
Accounts receivable, net	(45,614)	1,431
Contract assets	(3,656)	(4,707)
Deferred contract acquisition costs	(84,510)	(58,998)
Prepaid expenses and other current assets	(60,612)	(46,339)
Other noncurrent assets	7,142	4,312
Accounts payable	1,205	(247)
Accrued expenses and other current liabilities	48,699	758
Accrued compensation	40,523	(2,914)
Operating lease liabilities	(45,567)	(24,973)
Deferred revenue	127,144	82,643
Other noncurrent liabilities	(1,379)	(18)
Net cash provided by operating activities	275,894	245,580
Cash Flows from Investing Activities
Purchases of property and equipment	(115,192)	(145,786)
Capitalized internal-use software	(20,244)	(13,647)
Asset acquisitions and business combinations, net of cash acquired	(75,098)	(6,462)
Purchases of available-for-sale securities	(783,933)	(1,530,775)
Maturities of available-for-sale securities	1,442,199	810,825
Other investing activities	1,636	382
Net cash provided by (used in) investing activities	449,368	(885,463)
Cash Flows from Financing Activities
Proceeds from settlement of the 2025 capped calls	—	309,616
Gross proceeds from issuance of 2030 convertible senior notes	—	2,000,000
Purchases of capped calls related to the 2030 convertible senior notes	—	(283,400)
Cash paid for issuance costs on 2030 convertible senior notes	—	(27,873)
Proceeds from the exercise of stock options	9,815	17,942
Proceeds from the issuance of common stock for employee stock purchase plan	16,075	13,057
Payment of tax withholding obligation on RSU and PSU settlement	(29,473)	(18,217)
Payment of indemnity holdback	(100)	—
Net cash provided by (used in) financing activities	(3,683)	2,011,125
Net increase in cash, cash equivalents, and restricted cash	721,579	1,371,242
Cash, cash equivalents, and restricted cash, beginning of period	954,357	154,214
Cash, cash equivalents, and restricted cash, end of period	$1,675,936	$1,525,456
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	$32	$9
Cash paid for income taxes, net of refunds	$4,154	$3,503
Cash paid for operating lease liabilities	$43,179	$32,378
Supplemental Disclosure of Non-cash Investing and Financing Activities:
Stock-based compensation capitalized for software development and cloud computing arrangements	$7,081	$5,952
Accounts payable and accrued expenses related to property and equipment additions	$71,412	$51,090
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$45,897	$46,270
Issuance of common stock related to an acquisition	$98,686	$—

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