Cloudflare (NET) Operating Expenses (2018 - 2026)

Cloudflare has disclosed Operating Expenses across 9 years of filings, most recently posting $517.6 million for Q1 2026.

• Operating Expenses for Q1 2026 came in at $517.6 million, up 24.19% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.9 billion (up 27.02% YoY), and the FY2025 annual result was $1.8 billion, up 26.07% from the prior year.
• Operating Expenses came in at $517.6 million for Q1 2026 at Cloudflare, up from $501.8 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $517.6 million in Q1 2026 to a low of $205.1 million in Q1 2022.
• The 5-year median for Operating Expenses is $346.7 million (2024), against an average of $347.4 million.
• Across the five-year window, Operating Expenses surged 66.3% in 2022 and climbed 18.99% in 2023, its largest moves.
• Cloudflare's Operating Expenses stood at $257.6 million in 2022, then rose by 25.01% to $322.0 million in 2023, then grew by 19.86% to $386.0 million in 2024, then surged by 30.0% to $501.8 million in 2025, then increased by 3.15% to $517.6 million in 2026.
• The last three Operating Expenses figures came in at $517.6 million (Q1 2026), $501.8 million (Q4 2025), and $453.2 million (Q3 2025), per Business Quant data.