Company: NET
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001477333-25-000141
Chunk: 326

Company: Cloudflare, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 326
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Item 1. FINANCIAL STATEMENTS 

CLOUDFLARE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par value)

(unaudited)September 30,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$1,052,644 $147,691 Available-for-sale securities2,990,864 1,708,228 Accounts receivable, net351,890 316,753 Contract assets22,645 16,568 Restricted cash short-term4,373 4,273 Prepaid expenses and other current assets114,349 75,484 Total current assets4,536,765 2,268,997 Property and equipment, net588,361 467,420 Goodwill181,087 181,087 Acquired intangible assets, net18,411 21,865 Operating lease right-of-use assets222,148 168,379 Deferred contract acquisition costs, noncurrent194,035 172,217 Restricted cash2,475 2,250 Other noncurrent assets43,113 18,947 Total assets$5,786,395 $3,301,162 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$85,878 $105,807 Accrued expenses and other current liabilities92,514 81,602 Accrued compensation90,201 80,854 Operating lease liabilities65,321 47,626 Deferred revenue598,978 477,765 Current portion of convertible senior notes, net1,290,291 — Total current liabilities2,223,183 793,654 Convertible senior notes, net1,972,707 1,287,321 Operating lease liabilities, noncurrent173,432 128,266 Deferred revenue, noncurrent45,900 22,095 Other noncurrent liabilities24,157 23,625 Total liabilities4,439,379 2,254,961 Commitments and contingencies (Note 8)Stockholders’ EquityClass A common stock; $0.001 par value; 2,250,000 shares authorized as of September 30, 2025 and December 31, 2024; 315,165 and 307,892 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively314