Cloudflare (NET) EBITDA (2018 - 2026)
Cloudflare (NET) posted EBITDA of -$62.0 million for Q1 2026, down 25.92% sequentially from -$49.2 million in Q4 2025, and down 16.43% YoY from -$74.2 million in Q1 2025.
Cloudflare (NET) EBITDA (2018 - 2026) Analysis & Trends
Cloudflare has reported EBITDA for 9 years, with the latest figure at -$62.0 million in Q1 2026.
- Quarterly EBITDA fell 16.43% year-over-year to -$62.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$216.0 million (down 40.72% YoY) and the FY2025 annual result came in at -$207.2 million, down 33.89% from the prior year.
- EBITDA eased to -$62.0 million in Q1 2026 per NET's latest filing, from -$49.2 million in the prior quarter.
- Over five years, EBITDA peaked at -$30.8 million in Q3 2024 and troughed at -$67.3 million in Q2 2025.
- A 5-year average of -$47.7 million and a median of -$47.3 million in 2023 frame the typical range for EBITDA.
- The sharpest annual moves came in 2022 and 2024: EBITDA plunged 123.54% in 2022, then surged 38.23% in 2024.
- Over 5 years, EBITDA stood at -$50.7 million in 2022, then grew by 15.51% to -$42.8 million in 2023, then advanced by 18.94% to -$34.7 million in 2024, then plunged by 41.81% to -$49.2 million in 2025, then retreated by 25.92% to -$62.0 million in 2026.
- According to Business Quant data, EBITDA over the past three periods registered -$62.0 million, -$49.2 million, and -$37.5 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 40.60 Bn |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | 6.13 Bn |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 912.00 Mn |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | -183.00 Mn |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 689.30 Mn |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | -205.70 Mn |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 203.05 Mn |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | -49.00 Mn |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 446.87 Mn |
| 10 | NetApp | 40.59 Bn | 37.00 Bn | 1.37 Bn | 532.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -205.70 Mn |
| Mar 31, 2026 | -61.99 Mn |
| Dec 31, 2025 | -49.23 Mn |
| Sep 30, 2025 | -37.46 Mn |
| Jun 30, 2025 | -67.26 Mn |
| Mar 31, 2025 | -53.25 Mn |
| Dec 31, 2024 | -34.72 Mn |
| Sep 30, 2024 | -30.79 Mn |
| Jun 30, 2024 | -34.70 Mn |
| Mar 31, 2024 | -54.55 Mn |
| Dec 31, 2023 | -42.83 Mn |
| Sep 30, 2023 | -39.21 Mn |
| Jun 30, 2023 | -56.17 Mn |
| Mar 31, 2023 | -47.27 Mn |
| Dec 31, 2022 | -50.69 Mn |
| Sep 30, 2022 | -45.95 Mn |
| Jun 30, 2022 | -64.54 Mn |
| Mar 31, 2022 | -40.02 Mn |
| Dec 31, 2021 | -41.06 Mn |
| Sep 30, 2021 | -26.49 Mn |