Company: NET
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001477333-25-000082
Chunk: 16

Company: Cloudflare, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 16
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 to a 26% increase in headcount in our research and development organization, including an increase of $6.9 million in stock-based compensation expense, partially offset by increased capitalized internal-use software development costs of $1.4 million.

General and Administrative

Three Months EndedMarch 31,Change20252024$%(dollars in thousands)General and administrative$87,658 $66,309 $21,349 32%

General and administrative expenses increased by $21.3 million, or 32%, for the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The increase was primarily driven by $16.6 million in increased employee-related costs due to a 16% increase in headcount in our general and administrative organization, including an increase of $12.2 million in stock-based compensation expense. This increase was partially offset by $1.9 million of decreased allocated overhead costs.

41

Non-Operating Income (Expense)

Interest Income

Three Months EndedMarch 31,Change20252024$%(dollars in thousands)Interest income$21,399 $21,252 $147 1 %

Interest income did not significantly fluctuate during the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. 

Interest Expense

Three Months EndedMarch 31,Change20252024$%(dollars in thousands)Interest expense$(1,443)$(1,100)$(343)31 %

Interest expense did not significantly fluctuate during the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. 

Other Income (Expense), net

Three Months EndedMarch 31,Change20252024$%(dollars in thousands)Other income (expense), net$(3,468)$1,124 $(4,592)*

______________

* Not meaningful

Other income (expense), net did not significantly fluctuate during the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. 

Provision for Income Taxes

Three Months EndedMarch 31,Change20252024$%(dollars in thousands)Provision for income taxes$1,695 $2,269 $(574)(25)%

The net change in income taxes for the three months ended March 31, 2025 compared