Cloudflare (NET) Operating Leases (2020 - 2026)

Cloudflare (NET) posted Operating Leases of $256.7 million for Q1 2026, up 41.03% sequentially from $182.0 million in Q4 2025, and up 90.83% YoY from $134.5 million in Q1 2025.

Cloudflare (NET) Operating Leases (2020 - 2026) Analysis & Trends

Cloudflare (NET) has 7 years of Operating Leases data on file, last reported at $256.7 million in Q1 2026.

  • Quarterly Operating Leases rose 90.83% year-over-year to $256.7 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $256.7 million (up 90.83% YoY) and the FY2025 annual result came in at $182.0 million, up 41.91% from the prior year.
  • Operating Leases advanced to $256.7 million in Q1 2026 per NET's latest filing, from $182.0 million in the prior quarter.
  • The five-year high for Operating Leases was $256.7 million in Q1 2026, with the low at $105.3 million in Q2 2022.
  • Average Operating Leases over 5 years is $140.3 million, with a median of $128.3 million recorded in 2024.
  • Year-over-year, Operating Leases jumped 225.39% in 2022 and retreated 23.34% in 2023.
  • Cloudflare's Operating Leases stood at $107.6 million in 2022, then increased by 5.45% to $113.5 million in 2023, then increased by 13.02% to $128.3 million in 2024, then soared by 41.91% to $182.0 million in 2025, then surged by 41.03% to $256.7 million in 2026.
  • Business Quant data shows NET's Operating Leases at $256.7 million in Q1 2026, $182.0 million in Q4 2025, and $238.8 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Microsoft 2,853.66 Bn 2,775.39 Bn 56.06 Bn
2 Oracle 408.21 Bn 376.86 Bn 17.12 Bn
3 Palantir Technologies 300.98 Bn 293.06 Bn 1.42 Bn
4 Palo Alto Networks 247.84 Bn 243.30 Bn 1.91 Bn
5 CrowdStrike Holdings 193.63 Bn 190.57 Bn 993.68 Mn
6 Fortinet 117.45 Bn 114.16 Bn 1.49 Bn
7 Cloudflare 86.88 Bn 85.93 Bn 455.60 Mn
8 Synopsys 86.18 Bn 86.06 Bn 1.77 Bn
9 Block 46.10 Bn 39.21 Bn 2.91 Bn
10 CoreWeave 45.15 Bn 42.89 Bn 2.01 Bn

Historic Data

Download Data
DateValue
Mar 31, 2026 256.71 Mn
Dec 31, 2025 182.03 Mn
Sep 30, 2025 238.75 Mn
Jun 30, 2025 144.80 Mn
Mar 31, 2025 134.52 Mn
Dec 31, 2024 128.27 Mn
Sep 30, 2024 121.37 Mn
Jun 30, 2024 112.51 Mn
Mar 31, 2024 113.02 Mn
Dec 31, 2023 113.49 Mn
Sep 30, 2023 136.75 Mn
Jun 30, 2023 106.99 Mn
Mar 31, 2023 108.80 Mn
Dec 31, 2022 107.62 Mn
Sep 30, 2022 132.54 Mn
Jun 30, 2022 105.35 Mn
Mar 31, 2022 141.92 Mn
Dec 31, 2021 109.04 Mn
Sep 30, 2021 81.11 Mn
Jun 30, 2021 46.97 Mn