Company: NET
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477333-25-000082
Chunk: 383

Company: Cloudflare, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 383
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5 and 2024 was $3.3 million and $2.6 million, respectively. Write-off of uncollectible accounts receivable for the three months ended March 31, 2025 and 2024 was $3.2 million and $1.4 million, respectively.Property and Equipment, Net

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Property and equipment, net consisted of the following:March 31, 2025December 31, 2024(in thousands)Property and equipment:Servers—network infrastructure$555,590 $488,799 Construction in progress69,958 68,973 Capitalized internal-use software107,613 98,055 Office and computer equipment32,385 30,872 Office furniture7,191 7,068 Software5,013 4,097 Leasehold improvements49,569 49,047 Asset retirement obligation827 827 Gross property and equipment828,146 747,738 Less accumulated depreciation and amortization(314,280)(280,318)Total property and equipment, net$513,866 $467,420 Depreciation and amortization expense on property and equipment for the three months ended March 31, 2025 and 2024 was $37.1 million and $24.1 million, respectively. This includes amortization expense for capitalized internal-use software which totaled $7.4 million and $5.5 million for the three months ended March 31, 2025 and 2024, respectively.GoodwillAs of March 31, 2025 and December 31, 2024, the Company's goodwill was $181.1 million. No goodwill impairments were recorded during the three months ended March 31, 2025 and 2024.Acquired Intangible Assets, NetAcquired intangible assets, net consisted of the following:March 31, 2025Gross CarryingAmountAccumulatedAmortizationNet BookValue(in thousands)Developed technology$22,861 $10,702 $12,159 Customer relationships11,680 4,375 7,305 Other4,462 30 4,432 Total acquired intangible assets, net$39,003 $15,107 $23,896 December 31, 2024Gross CarryingAmountAccumulatedAmortizationNet BookValue(in thousands)Developed technology$22,131 $7,878