Cloudflare (NET) Accumulated Expenses (2018 - 2026)
Cloudflare (NET) recorded Accumulated Expenses of $165.79 million in Q2 2026, up 106.0% from $80.46 million a year earlier and up 31.1% from the prior quarter.
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Analysis
Cloudflare (NET) Accumulated Expenses (2018 - 2026) Analysis & Trends
At the end of FY2025, Cloudflare reported Accumulated Expenses of $109.05 million, up 33.6% from FY2024.
- Annual Accumulated Expenses has a five-year compound annual growth rate of 40.1% (FY2020 to FY2025).
- Across earlier years, Accumulated Expenses came in at $81.6 million in FY2024 (+28.3%), $63.6 million in FY2023 (-6.9%), $68.33 million in FY2022 (+79.4%) and $38.09 million in FY2021 (+88.4%).
- The Q2 2026 figure is the highest quarterly Accumulated Expenses in data going back to Q4 2018.
- On a year-over-year basis, Accumulated Expenses has increased for nine consecutive quarters, with growth averaging 39.8% over the last eight quarters.
- Peak year-over-year performance for Accumulated Expenses in the last five years was growth of 106.0% in Q2 2026, against a decline of 12.4% in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $126.46 million (Q1 2026), $109.05 million (Q4 2025) and $92.51 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Microsoft | 3,978.22 Bn | 3,913.71 Bn | 62.56 Bn |
| 2 | International Business Machines | 234.30 Bn | 188.91 Bn | 9.71 Bn |
| 3 | Equinix | 98.75 Bn | 86.64 Bn | 1.31 Bn |
| 4 | Cloudflare | 87.20 Bn | 70.73 Bn | 499.52 Mn |
| 5 | Nebius | 29.33 Bn | 2.76 Bn | 448.70 Mn |
| 6 | Verisign | 28.15 Bn | 25.50 Bn | 393.20 Mn |
| 7 | CoreWeave | 24.27 Bn | 11.36 Bn | 1.70 Bn |
| 8 | Nutanix | 15.78 Bn | 7.47 Bn | 651.35 Mn |
| 9 | GoDaddy | 15.07 Bn | 10.45 Bn | 843.00 Mn |
| 10 | Akamai Technologies | 11.38 Bn | 4.78 Bn | 613.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 165.79 Mn |
| Mar 31, 2026 | 126.46 Mn |
| Dec 31, 2025 | 109.05 Mn |
| Sep 30, 2025 | 92.51 Mn |
| Jun 30, 2025 | 80.46 Mn |
| Mar 31, 2025 | 89.62 Mn |
| Dec 31, 2024 | 81.60 Mn |
| Sep 30, 2024 | 68.89 Mn |
| Jun 30, 2024 | 66.92 Mn |
| Mar 31, 2024 | 68.41 Mn |
| Dec 31, 2023 | 63.60 Mn |
| Sep 30, 2023 | 55.69 Mn |
| Jun 30, 2023 | 54.60 Mn |
| Mar 31, 2023 | 69.37 Mn |
| Dec 31, 2022 | 68.33 Mn |
| Sep 30, 2022 | 55.07 Mn |
| Jun 30, 2022 | 53.18 Mn |
| Mar 31, 2022 | 40.89 Mn |
| Dec 31, 2021 | 38.09 Mn |
| Sep 30, 2021 | 33.84 Mn |
API Access
Cloudflare Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "NET", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();