Cloudflare (NET) Operating Leases (2020 - 2026)
Quarterly results put Operating Leases at $256.7 million for Q1 2026, up 90.83% from a year ago — trailing twelve months through Mar 2026 was $256.7 million (up 90.83% YoY), and the annual figure for FY2025 was $182.0 million, up 41.91%.
Cloudflare has reported Operating Leases over the past 7 years, most recently at $256.7 million for Q1 2026.
- Operating Leases reached $256.7 million in Q1 2026 per NET's latest filing, up from $182.0 million in the prior quarter.
- Across five years, Operating Leases topped out at $256.7 million in Q1 2026 and bottomed at $105.3 million in Q2 2022.
- Median Operating Leases over the past 5 years was $128.3 million (2024), compared with a mean of $140.3 million.
- The largest annual shift saw Operating Leases soared 225.39% in 2022 before it fell 23.34% in 2023.
- Over 5 years, 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 Operating Leases for NET 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 | 3,115.84 Bn | 3,037.57 Bn | 56.06 Bn |
| 2 | Oracle | 544.25 Bn | 505.67 Bn | 15.14 Bn |
| 3 | Palantir Technologies | 328.85 Bn | 320.93 Bn | 1.42 Bn |
| 4 | Palo Alto Networks | 175.67 Bn | 171.13 Bn | 1.91 Bn |
| 5 | CrowdStrike Holdings | 162.44 Bn | 159.38 Bn | 993.68 Mn |
| 6 | Fortinet | 95.68 Bn | 92.39 Bn | 1.49 Bn |
| 7 | Synopsys | 95.66 Bn | 95.54 Bn | 1.77 Bn |
| 8 | Cloudflare | 74.88 Bn | 73.94 Bn | 455.60 Mn |
| 9 | CoreWeave | 56.29 Bn | 54.02 Bn | 2.01 Bn |
| 10 | Block | 40.97 Bn | 34.07 Bn | 2.91 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Mar 31, 2021 | 43.62 Mn |
| Dec 31, 2020 | 27.31 Mn |
| Sep 30, 2020 | 29.68 Mn |
| Jun 30, 2020 | 30.87 Mn |
| Mar 31, 2020 | 33.80 Mn |