Cloudflare (NET) Gross Margin (2018 - 2026)
Cloudflare (NET) reported Gross Margin of 71.21% for Q1 2026, down 466.0% year-over-year from 19.46% in Q1 2025, and down 3.3% sequentially from 73.64% in Q4 2025.
Cloudflare (NET) Gross Margin (2018 - 2026) Analysis & Trends
Cloudflare's Gross Margin history runs 9 years deep, the most recent figure standing at 71.21% for Q1 2026.
- Quarterly Gross Margin fell 466.0% year-over-year to 71.21% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 73.33% (down 355.0% YoY) and the FY2025 annual result came in at 74.51%, down 280.0% from the prior year.
- Gross Margin was 71.21% for Q1 2026 at Cloudflare, down from 73.64% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 77.82% in Q1 2022 to a low of 71.21% in Q1 2026.
- Median Gross Margin over the past 5 years was 75.88% (2025), compared with a mean of 75.83%.
- Across the five-year window, Gross Margin jumped 219 bps in 2024 and tumbled 466 bps in 2026, its largest moves.
- Over 5 years, Gross Margin stood at 75.32% in 2022, then advanced by 2 bps to 77.02% in 2023, then slipped by 1 bps to 76.37% in 2024, then retreated by 4 bps to 73.64% in 2025, then retreated by 3 bps to 71.21% in 2026.
- Business Quant data shows NET's Gross Margin at 71.21% in Q1 2026, 73.64% in Q4 2025, and 73.97% in Q3 2025.
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| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ZenaTech | 82,806.72 Bn | 82,806.72 Bn | - | - |
| 2 | Microsoft | 11,085.79 Bn | 11,007.52 Bn | 56.06 Bn | 67.63% |
| 3 | Palantir Technologies | 1,073.49 Bn | 1,065.58 Bn | 1.42 Bn | 86.78% |
| 4 | Rezolve Ai | 1,009.18 Bn | 1,009.17 Bn | - | - |
| 5 | Palo Alto Networks | 824.56 Bn | 820.03 Bn | 1.91 Bn | 73.59% |
| 6 | CrowdStrike Holdings | 701.26 Bn | 698.20 Bn | 993.68 Mn | 76.12% |
| 7 | Oracle | 514.97 Bn | 476.40 Bn | 17.12 Bn | 89.22% |
| 8 | Fortinet | 456.74 Bn | 453.45 Bn | 1.49 Bn | 80.29% |
| 9 | Cloudflare | 331.63 Bn | 330.68 Bn | 455.60 Mn | 71.21% |
| 10 | Synopsys | 303.79 Bn | 303.67 Bn | 1.77 Bn | 73.54% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 71.21% |
| Dec 31, 2025 | 73.64% |
| Sep 30, 2025 | 73.97% |
| Jun 30, 2025 | 74.88% |
| Mar 31, 2025 | 75.88% |
| Dec 31, 2024 | 76.37% |
| Sep 30, 2024 | 77.69% |
| Jun 30, 2024 | 77.80% |
| Mar 31, 2024 | 77.54% |
| Dec 31, 2023 | 77.02% |
| Sep 30, 2023 | 76.74% |
| Jun 30, 2023 | 75.62% |
| Mar 31, 2023 | 75.73% |
| Dec 31, 2022 | 75.32% |
| Sep 30, 2022 | 75.59% |
| Jun 30, 2022 | 76.20% |
| Mar 31, 2022 | 77.82% |
| Dec 31, 2021 | 78.05% |
| Sep 30, 2021 | 78.23% |
| Jun 30, 2021 | 77.02% |