Company: NET
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001477333-25-000137
Chunk: 433

Company: Cloudflare, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 433
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 Loss before income taxes(47,289)(13,932)(84,048)(47,206)Provision for income taxes3,157 1,146 4,852 3,415 Net loss$(50,446)$(15,078)$(88,900)$(50,621)

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Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Percentage of Revenue Data:Revenue100 %100 %100 %100 %Cost of revenue25 22 25 22 Gross margin75 78 75 78 Operating expenses:Sales and marketing43 44 44 47 Research and development26 26 25 24 General and administrative19 17 18 18 Total operating expenses88 87 87 89 Loss from operations(13)(9)(12)(11)Non-operating income (expense):Interest income5 5 5 5 Interest expense— — — — Other income (expense), net(1)— (1)— Total non-operating income, net4 5 4 5 Loss before income taxes(9)(4)(8)(6)Provision for income taxes1 — 1 — Net loss(10)%(4)%(9)%(6)%

Comparison of Three and Six Months Ended June 30, 2025 and 2024

Revenue

Three Months EndedJune 30,ChangeSix Months EndedJune 30,Change20252024$%20252024$%(dollars in thousands)(dollars in thousands)Revenue$512,316 $400,996 $111,320 28 %$991,403 $779,598 $211,805 27 %

Revenue increased by $111.3 million and $211.8 million, or 28% and 27%, for the three and six months ended June 30, 2025, compared to the three and six months ended June 30, 2024. The increase in revenue was primarily due to the addition of new paying customers, as our number of paying customers increased by 27% as of June 30, 2025 compared to the prior period ended June 30, 2024, as well as the expansion within our existing paying customers, which was reflected by our dollar-based net retention rate of 114% for the three months ended June