Company: NET
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001477333-25-000137
Chunk: 424

Company: Cloudflare, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 424
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 Operating margin(13)%(9)%(12)%(11)%Non-GAAP operating margin14 %14 %13 %13 %Net cash provided by operating activities$99,796 $74,815$245,580$148,394Net cash used in investing activities$(793,025)$(183,742)$(885,463)$(86,792)Net cash provided by financing activities$2,007,603 $7,143$2,011,125$7,164Free cash flow$33,280 $38,275$86,147$73,882Net cash provided by operating activities (as a percentage of revenue)19 %19 %25 %19 %Free cash flow margin6 %10 %9 %9 %Paying customers(1)265,929 210,166 Paying customers (> $100,000 Annualized Revenue)(1)3,712 3,046 

(1)Key business metrics are derived on a quarterly basis. Refer to Key Business Metrics section below for further detail. 

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The following table summarizes the revenue by region based on the billing address of customers who use the Company’s products:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(dollars in thousands)(dollars in thousands)AmountPercentageof RevenueAmountPercentageof RevenueAmountPercentageof RevenueAmountPercentageof RevenueUnited States$251,894 49 %$207,008 51 %$486,781 49 %$403,471 52 %Europe, Middle East, and Africa143,438 28 %110,968 28 %277,291 28 %216,352 28 %Asia Pacific75,144 15 %52,126 13 %148,539 15 %99,777 13 %Other41,840 8 %30,894 8 %78,792 8 %59,998 7 %Total$512,316 100 %$400,996 100 %$991,403 100 %$779,598 100 %

Non-GAAP Financial Measures

In addition to our results determined in accordance with generally accepted accounting principles in the United States (U.S. GAAP), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the