Company: NET
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001477333-25-000137
Chunk: 341

Company: Cloudflare, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 341
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 net$547,349 $467,420 Depreciation and amortization expense on property and equipment for the three months ended June 30, 2025 and 2024 was $40.1 million and $26.3 million, respectively, and for the six months ended June 30, 2025 and 2024 was $77.2 million and $50.4 million, respectively. This includes amortization expense for capitalized internal-use software which totaled $7.8 million and $5.9 million for the three months ended June 30, 2025 and 2024, respectively, and $15.2 million and $11.4 million for the six months ended June 30, 2025 and 2024, respectively.GoodwillAs of June 30, 2025 and December 31, 2024, the Company's goodwill was $181.1 million. No goodwill impairments were recorded during the six months ended June 30, 2025 and 2024.Acquired Intangible Assets, Net

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Acquired intangible assets, net consisted of the following:June 30, 2025Gross CarryingAmountAccumulatedAmortizationNet BookValue(in thousands)Developed technology$24,820 $13,919 $10,901 Customer relationships11,680 4,792 6,888 Other4,462 141 4,321 Total acquired intangible assets, net$40,962 $18,852 $22,110 December 31, 2024Gross CarryingAmountAccumulatedAmortizationNet BookValue(in thousands)Developed technology$22,131 $7,878 $14,253 Customer relationships11,600 3,988 7,612 Total acquired intangible assets, net$33,731 $11,866 $21,865 Amortization of acquired intangible assets was $3.7 million and $2.0 million for the three months ended June 30, 2025 and 2024, respectively, and $7.0 million and $7.2 million for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, the estimated future amortization expense of acquired intangible assets was as follows:EstimatedAmortization(in thousands)Year ending December 31,2025 (remaining