Cloudflare (NET) EBITDA (2018 - 2026)
Cloudflare's EBITDA was -$107.83 million in Q2 2026, compared with $2.38 million a year earlier.
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Analysis
Cloudflare (NET) EBITDA (2018 - 2026) Analysis & Trends
On a trailing twelve-month basis, Cloudflare's EBITDA was -$11.35 million through Jun 30, 2026; for FY2025, it was $84.16 million, up 65.7% from FY2024.
- In earlier years, EBITDA was $50.78 million in FY2024 (+333.7%), $11.71 million in FY2023, -$53.75 million in FY2022 and -$31.81 million in FY2021.
- The Q2 2026 figure marks the lowest quarterly EBITDA in data going back to Q3 2018.
- Compared with a year earlier, EBITDA was higher in five of the last six quarters, with growth averaging 63.0%.
- Per Business Quant data, NET's EBITDA in the three quarters before Q2 2026 was $26.8 million (Q1 2026), $31.28 million (Q4 2025) and $38.41 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn | 51.63 Bn |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn | 3.96 Bn |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn | -107.83 Mn |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn | 1.22 Bn |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn | 110.60 Mn |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn | 1.39 Bn |
| 7 | Verisign | 27.46 Bn | 24.67 Bn | 384.60 Mn | 302.90 Mn |
| 8 | Nutanix | 17.98 Bn | 9.67 Bn | 651.35 Mn | 88.42 Mn |
| 9 | GoDaddy | 13.83 Bn | 9.41 Bn | 828.20 Mn | 355.80 Mn |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn | 268.85 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -107.83 Mn |
| Mar 31, 2026 | 26.80 Mn |
| Dec 31, 2025 | 31.28 Mn |
| Sep 30, 2025 | 38.41 Mn |
| Jun 30, 2025 | 2.38 Mn |
| Mar 31, 2025 | 12.09 Mn |
| Dec 31, 2024 | 22.64 Mn |
| Sep 30, 2024 | 20.63 Mn |
| Jun 30, 2024 | 13.84 Mn |
| Mar 31, 2024 | -6.33 Mn |
| Dec 31, 2023 | 9.97 Mn |
| Sep 30, 2023 | 10.99 Mn |
| Jun 30, 2023 | -7.60 Mn |
| Mar 31, 2023 | -1.65 Mn |
| Dec 31, 2022 | -7.96 Mn |
| Sep 30, 2022 | -6.80 Mn |
| Jun 30, 2022 | -28.65 Mn |
| Mar 31, 2022 | -10.35 Mn |
| Dec 31, 2021 | -7.05 Mn |
| Sep 30, 2021 | -1.69 Mn |
API Access
Cloudflare EBITDA 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=ebitda&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();