Cloudflare (NET) Gross Margin (2018 - 2026)
Cloudflare's (NET) quarterly Gross Margin came in at 71.21% in Q1 2026, down 466.0% year-on-year from 19.46% in Q1 2025, and down 3.3% quarter-over-quarter from 73.64% in Q4 2025.
Cloudflare (NET) Gross Margin (2018 - 2026) Analysis & Trends
Cloudflare has disclosed Gross Margin across 9 years of filings, most recently posting 71.21% for Q1 2026.
- Gross Margin for Q1 2026 came in at 71.21%, down 466.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 73.33% (down 355.0% YoY), and the FY2025 annual result was 74.51%, down 280.0% from the prior year.
- Gross Margin came in at 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.
- The 5-year median for Gross Margin is 75.88% (2025), against an average of 75.83%.
- Across the five-year window, Gross Margin surged 219 bps in 2024 and plunged 466 bps in 2026, its largest moves.
- Cloudflare's Gross Margin stood at 75.32% in 2022, then climbed by 2 bps to 77.02% in 2023, then dropped by 1 bps to 76.37% in 2024, then decreased by 4 bps to 73.64% in 2025, then decreased by 3 bps to 71.21% in 2026.
- The last three Gross Margin figures came in at 71.21% (Q1 2026), 73.64% (Q4 2025), and 73.97% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,064.95 Bn | 2,986.68 Bn | 56.06 Bn | 67.63% |
| 2 | Alarum Technologies | 1,117.04 Bn | 1,102.89 Bn | 7.23 Mn | 61.73% |
| 3 | Oracle | 608.54 Bn | 569.96 Bn | 15.14 Bn | 88.06% |
| 4 | Palantir Technologies | 326.97 Bn | 319.05 Bn | 1.42 Bn | 86.78% |
| 5 | Palo Alto Networks | 185.10 Bn | 180.56 Bn | 1.91 Bn | 73.59% |
| 6 | CrowdStrike Holdings | 165.31 Bn | 162.25 Bn | 993.68 Mn | 76.12% |
| 7 | Fortinet | 105.66 Bn | 102.37 Bn | 1.49 Bn | 80.29% |
| 8 | Synopsys | 89.71 Bn | 89.60 Bn | 1.77 Bn | 73.54% |
| 9 | Cloudflare | 87.54 Bn | 86.60 Bn | 455.60 Mn | 71.21% |
| 10 | CoreWeave | 53.90 Bn | 51.63 Bn | 2.01 Bn | 96.68% |
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% |