Cloudflare (NET) EBT (2018 - 2026)
Cloudflare's (NET) quarterly EBT came in at -$167.9 million in Q2 2026, down 255.14% year-over-year from $108.3 million in Q2 2025, and down 684.73% quarter-over-quarter from -$21.4 million in Q1 2026.
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Analysis
Cloudflare (NET) EBT (2018 - 2026) Analysis & Trends
Cloudflare has disclosed EBT across 9 years of filings, most recently posting -$167.9 million for Q2 2026.
- In Q2 2026, EBT fell 255.14% year-over-year to -$167.9 million; the TTM figure through Jun 2026 stood at -$198.0 million (down 83.82% YoY), while the FY2025 annual figure was -$92.7 million, down 30.81% from the prior year.
- EBT came in at -$167.9 million for Q2 2026 at Cloudflare, down from -$21.4 million in the prior quarter.
- In the past five years, EBT ranged from a high of $1.8 million in Q3 2025 to a low of -$167.9 million in Q2 2026.
- Average EBT over 5 years is -$40.1 million, with a median of -$35.0 million recorded in 2024.
- Year-over-year, EBT surged 114.43% in 2025 and plunged 255.14% in 2026.
- Over 5 years, EBT stood at -$44.8 million in 2022, then soared by 42.44% to -$25.8 million in 2023, then soared by 57.99% to -$10.8 million in 2024, then increased by 3.09% to -$10.5 million in 2025, then slumped by 1498.21% to -$167.9 million in 2026.
- Per Business Quant data, the three most recent EBT figures were -$167.9 million in Q2 2026, -$21.4 million in Q1 2026, and -$10.5 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,717.88 Bn | 3,585.13 Bn | 60.48 Bn | 44.05 Bn |
| 2 | International Business Machines | 219.37 Bn | 208.10 Bn | 9.91 Bn | 2.48 Bn |
| 3 | Cloudflare | 113.46 Bn | 109.29 Bn | 499.52 Mn | -167.94 Mn |
| 4 | Equinix | 102.39 Bn | 100.19 Bn | 1.40 Bn | 523.00 Mn |
| 5 | Nebius | 57.34 Bn | 49.30 Bn | 448.70 Mn | -680,000.00 |
| 6 | CoreWeave | 47.88 Bn | 42.34 Bn | 1.70 Bn | -564.00 Mn |
| 7 | Verisign | 26.51 Bn | 25.48 Bn | 384.60 Mn | 281.60 Mn |
| 8 | Nutanix | 18.85 Bn | 16.49 Bn | 651.35 Mn | 82.72 Mn |
| 9 | Akamai Technologies | 17.01 Bn | 13.65 Bn | 613.75 Mn | 100.03 Mn |
| 10 | DigitalOcean Holdings | 14.83 Bn | 14.06 Bn | 154.66 Mn | 27.14 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -167.94 Mn |
| Mar 31, 2026 | -21.40 Mn |
| Dec 31, 2025 | -10.51 Mn |
| Sep 30, 2025 | 1.85 Mn |
| Jun 30, 2025 | -47.29 Mn |
| Mar 31, 2025 | -36.76 Mn |
| Dec 31, 2024 | -10.84 Mn |
| Sep 30, 2024 | -12.82 Mn |
| Jun 30, 2024 | -13.93 Mn |
| Mar 31, 2024 | -33.27 Mn |
| Dec 31, 2023 | -25.81 Mn |
| Sep 30, 2023 | -22.28 Mn |
| Jun 30, 2023 | -93.00 Mn |
| Mar 31, 2023 | -36.77 Mn |
| Dec 31, 2022 | -44.85 Mn |
| Sep 30, 2022 | -41.17 Mn |
| Jun 30, 2022 | -63.71 Mn |
| Mar 31, 2022 | -41.01 Mn |
| Dec 31, 2021 | -56.93 Mn |
| Sep 30, 2021 | -110.43 Mn |
API Access
Cloudflare EBT 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=ebt&ticker=NET&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt", "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=ebt&ticker=NET&period=max&api_key=YOUR_API_KEY");
const data = await res.json();