Company: NET
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001477333-25-000043
Chunk: 8

Company: Cloudflare, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 8
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 CASH FLOWS

(in thousands)Year Ended December 31,202420232022Cash Flows from Operating ActivitiesNet loss$(78,800)$(183,949)$(193,381)Adjustments to reconcile net loss to cash provided by operating activities:Depreciation and amortization expense127,722 135,820 102,335 Non-cash operating lease costs49,476 44,792 36,332 Amortization of deferred contract acquisition costs77,822 61,374 45,115 Stock-based compensation expense338,461 273,989 202,777 Amortization of debt issuance costs3,959 4,519 4,659 Net accretion of discounts and amortization of premiums on available-for-sale securities(42,081)(44,441)(263)Deferred income taxes2,111 2,264 (140)Provision for bad debt10,038 13,637 4,828 Loss on extinguishment of debt— 50,300 — Other643 829 629 Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations:Accounts receivable, net(78,523)(113,361)(56,195)Contract assets(5,527)(2,749)(2,213)Deferred contract acquisition costs(116,803)(101,465)(67,940)Prepaid expenses and other current assets(38,227)(22,125)(7,701)Other noncurrent assets2,170 1,018 (539)Accounts payable18,626 11,781 (9,605)Accrued expenses and other current liabilities9,900 4,001 18,986 Accrued compensation18,742 21,787 (24,349)Operating lease liabilities(55,248)(40,046)(31,691)Deferred revenue135,008 134,473 102,204 Other noncurrent liabilities960 1,958 (253)Net cash provided by operating activities380,429 254,406 123,595 Cash Flows from Investing ActivitiesPurchases of property and equipment(185,037)(114,396)(143,606)Capitalized internal-use software(28,477)(20,546)(19,758)Asset acquisitions and business combinations, net of cash acquired(37,991)(6,083)(88,187)Purchases of available-for