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Cloudflare (NET) Operating Leases (2020 - 2025)

Cloudflare's Operating Leases history spans 6 years, with the latest figure at $182.0 million for Q4 2025.

  • For Q4 2025, Operating Leases rose 41.91% year-over-year to $182.0 million; the TTM value through Dec 2025 reached $182.0 million, up 41.91%, while the annual FY2025 figure was $182.0 million, 41.91% up from the prior year.
  • Operating Leases for Q4 2025 was $182.0 million at Cloudflare, down from $238.8 million in the prior quarter.
  • Across five years, Operating Leases topped out at $238.8 million in Q3 2025 and bottomed at $25.6 million in Q1 2021.
  • The 5-year median for Operating Leases is $121.4 million (2022), against an average of $127.1 million.
  • The largest annual shift saw Operating Leases tumbled 49.56% in 2021 before it surged 347.26% in 2022.
  • A 5-year view of Operating Leases shows it stood at $109.0 million in 2021, then fell by 1.3% to $107.6 million in 2022, then rose by 5.45% to $113.5 million in 2023, then rose by 13.02% to $128.3 million in 2024, then skyrocketed by 41.91% to $182.0 million in 2025.
  • Per Business Quant, the three most recent readings for NET's Operating Leases are $182.0 million (Q4 2025), $238.8 million (Q3 2025), and $144.8 million (Q2 2025).