Company: NET
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477333-25-000082
Chunk: 322

Company: Cloudflare, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 322
---
Item 1. FINANCIAL STATEMENTS 

CLOUDFLARE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value)

(unaudited)March 31,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$204,459 $147,691 Available-for-sale securities1,710,415 1,708,228 Accounts receivable, net286,319 316,753 Contract assets15,988 16,568 Restricted cash short-term4,373 4,273 Prepaid expenses and other current assets402,737 75,484 Total current assets2,624,291 2,268,997 Property and equipment, net513,866 467,420 Goodwill181,087 181,087 Acquired intangible assets, net23,896 21,865 Operating lease right-of-use assets178,091 168,379 Deferred contract acquisition costs, noncurrent174,543 172,217 Restricted cash2,250 2,250 Other noncurrent assets23,235 18,947 Total assets$3,721,259 $3,301,162 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$93,781 $105,807 Accrued expenses and other current liabilities89,615 81,602 Accrued compensation76,457 80,854 Operating lease liabilities53,062 47,626 Deferred revenue508,094 477,765 Total current liabilities821,009 793,654 Convertible senior notes, net1,288,311 1,287,321 Operating lease liabilities, noncurrent134,521 128,266 Deferred revenue, noncurrent27,555 22,095 Other noncurrent liabilities23,985 23,625 Total liabilities2,295,381 2,254,961 Commitments and contingencies (Note 8)Stockholders’ EquityClass A common stock; $0.001 par value; 2,250,000 shares authorized as of March 31, 2025 and December 31, 2024; 309,991 and 307,892 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively309 307 Class B common stock; $0.001 par value; 315,000 shares