Company: NET
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001477333-25-000043
Chunk: 4

Company: Cloudflare, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 4
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307 297 Class B common stock; $0.001 par value; 315,000 shares authorized as of December 31, 2024 and 2023; 36,963 and 39,443 shares issued and outstanding as of December 31, 2024 and 2023, respectively37 40 Additional paid-in capital2,152,750 1,784,566 Accumulated deficit(1,102,640)(1,023,840)Accumulated other comprehensive income (loss)(4,253)1,984 Total stockholders’ equity1,046,201 763,047 Total liabilities and stockholders’ equity$3,301,162 $2,759,767 

The accompanying notes are an integral part of these consolidated financial statements.97

CLOUDFLARE, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

Year Ended December 31,202420232022Revenue$1,669,626 $1,296,745 $975,241 Cost of revenue378,702 307,005 232,610 Gross profit1,290,924 989,740 742,631 Operating expenses:Sales and marketing745,791 599,117 465,762 Research and development421,374 358,143 298,303 General and administrative278,520 217,965 179,769 Total operating expenses1,445,685 1,175,225 943,834 Loss from operations(154,761)(185,485)(201,203)Non-operating income (expense):Interest income87,426 68,167 14,877 Interest expense(5,196)(5,872)(4,984)Loss on extinguishment of debt— (50,300)— Other income (expense), net1,660 (4,372)577 Total non-operating income, net83,890 7,623 10,470 Loss before income taxes(70,871)(177,862)(190,733)Provision for income taxes7,929 6,087 2,648 Net loss$(78,800)$(183,949)$(193,381)Net loss per share attributable to common stockholders, basic and diluted$(0.23)$(0.55)$(0.59)Weighted-average shares used in computing net