Company: NET
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001477333-25-000043
Chunk: 3

Company: Cloudflare, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 3
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 performed, including the appropriateness of the nature and extent of such evidence.

/s/ KPMG LLP

We have served as the Company’s auditor since 2014.

Santa Clara, California 

February 20, 2025

96

CLOUDFLARE, INC.

CONSOLIDATED BALANCE SHEETS

(in thousands, except par value)December 31,20242023AssetsCurrent assets:Cash and cash equivalents$147,691 $86,864 Available-for-sale securities1,708,228 1,586,880 Accounts receivable, net316,753 248,268 Contract assets16,568 11,041 Restricted cash short-term4,273 2,522 Prepaid expenses and other current assets75,484 47,502 Total current assets2,268,997 1,983,077 Property and equipment, net467,420 322,813 Goodwill181,087 148,047 Acquired intangible assets, net21,865 19,564 Operating lease right-of-use assets168,379 138,556 Deferred contract acquisition costs, noncurrent172,217 133,236 Restricted cash2,250 1,838 Other noncurrent assets18,947 12,636 Total assets$3,301,162 $2,759,767 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$105,807 $53,727 Accrued expenses and other current liabilities81,602 63,597 Accrued compensation80,854 63,801 Operating lease liabilities47,626 38,351 Deferred revenue477,765 347,608 Total current liabilities793,654 567,084 Convertible senior notes, net1,287,321 1,283,362 Operating lease liabilities, noncurrent128,266 113,490 Deferred revenue, noncurrent22,095 17,244 Other noncurrent liabilities23,625 15,540 Total liabilities2,254,961 1,996,720 Commitments and contingencies (Note 8)Stockholders’ EquityClass A common stock; $0.001 par value; 2,250,000 shares authorized as of December 31, 2024 and 2023; 307,892 and 298,089 shares issued and outstanding as of December 31, 2024 and 2023, respectively