Cloudflare (NET) Gross Margin (2018 - 2026)
Cloudflare (NET) reported Gross Margin of 71.21% for Q1 2026, down 466.0% on a YoY basis 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 (NET) has 9 years of Gross Margin data on file, last reported at 71.21% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 466.0% year-over-year to 71.21%; the trailing twelve-month figure through Mar 2026 stood at 73.33% (down 355.0% YoY), and the FY2025 full-year result was 74.51%, down 280.0% from the prior year.
- Gross Margin slipped to 71.21% in Q1 2026, 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.
- A 5-year average of 75.83% and a median of 75.88% in 2025 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin surged 219 bps in 2024 and slumped 466 bps in 2026, its largest moves.
- Tracing NET's Gross Margin over 5 years: 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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|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 67.63% |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 37.73% |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | - |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 86.78% |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 73.59% |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 76.12% |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 80.29% |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | 71.21% |
| 10 | Synopsys | 70.83 Bn | 68.63 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% |