Company: NET
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477333-25-000082
Chunk: 346

Company: Cloudflare, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 346
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 months ended March 31, 2025 and 2024. As of March 31, 2025, the total unrecognized stock-based compensation expense related to the ESPP was not material and will be recognized through the year ended December 31, 2025.Stock-based Compensation ExpenseThe following table sets forth the total stock-based compensation expense included in the Company’s condensed consolidated statements of operations:Three Months Ended March 31,20252024(in thousands)Cost of revenue$2,588 $2,503 Sales and marketing27,918 20,177 Research and development32,693 25,716 General and administrative32,336 21,327 Total stock-based compensation expense$95,535 $69,723 

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Note 11. Net Loss per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders:Three Months Ended March 31,20252024Class AClass BClass AClass B(in thousands, except per share data)Net loss attributable to common stockholders$(34,365)$(4,089)$(31,429)$(4,114)Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted308,964 36,759 299,398 39,185 Net loss per share attributable to common stockholders, basic and diluted$(0.11)$(0.11)$(0.10)$(0.10)Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common shares outstanding would have been antidilutive. The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows:March 31,20252024(in thousands)2026 Notes6,762 6,762 Unexercised stock options7,849 10,731 Unvested RSUs11,209 9,967 Shares issuable pursuant to the ESPP170 186 Total25,990 27,646 

Note 12. Income Taxes

The computation of the provision for income taxes for interim periods is determined by applying the estimated annual effective tax rate to year-to-date earnings from recurring operations and adjusting for discrete tax items