Growth Metrics

Cloudflare (NET) Cost of Revenue (2018 - 2026)

Cloudflare has reported Cost of Revenue over the past 9 years, most recently at $184.2 million for Q1 2026.

  • Quarterly results put Cost of Revenue at $184.2 million for Q1 2026, up 59.34% from a year ago — trailing twelve months through Mar 2026 was $801.0 million (up 279.75% YoY), and the annual figure for FY2025 was $920.8 million, up 143.15%.
  • Cost of Revenue reached $184.2 million in Q1 2026 per NET's latest filing, down from $251.1 million in the prior quarter.
  • Across five years, Cost of Revenue topped out at $251.1 million in Q4 2025 and bottomed at -$175.1 million in Q4 2024.
  • Median Cost of Revenue over the past 5 years was $117.6 million (2022), compared with a mean of $104.8 million.
  • The largest annual shift saw Cost of Revenue crashed 196.1% in 2023 before it surged 243.41% in 2025.
  • Over 5 years, Cost of Revenue stood at $132.0 million in 2022, then plummeted by 196.1% to -$126.9 million in 2023, then tumbled by 38.0% to -$175.1 million in 2024, then soared by 243.41% to $251.1 million in 2025, then dropped by 26.67% to $184.2 million in 2026.
  • Business Quant data shows Cost of Revenue for NET at $184.2 million in Q1 2026, $251.1 million in Q4 2025, and $146.3 million in Q3 2025.