Cloudflare (NET) Research & Development (2018 - 2026)
Cloudflare (NET) posted Research & Development of $271.6 million for Q1 2026, down 50.64% sequentially from $550.2 million in Q4 2025, and up 135.99% YoY from $115.1 million in Q1 2025.
Cloudflare (NET) Research & Development (2018 - 2026) Analysis & Trends
Cloudflare has reported Research & Development for 9 years, with the latest figure at $271.6 million in Q1 2026.
- Quarterly Research & Development rose 135.99% year-over-year to $271.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.2 billion (up 37.51% YoY) and the FY2025 annual result came in at $920.8 million, up 23.47% from the prior year.
- Research & Development eased to $271.6 million in Q1 2026 per NET's latest filing, from $550.2 million in the prior quarter.
- Over five years, Research & Development peaked at $550.2 million in Q4 2025 and troughed at -$35.4 million in Q4 2022.
- A 5-year average of $179.3 million and a median of $117.6 million in 2022 frame the typical range for Research & Development.
- The sharpest annual moves came in 2023 and 2024: Research & Development soared 1052.79% in 2023, then sank 35.98% in 2024.
- Over 5 years, Research & Development stood at -$35.4 million in 2022, then jumped by 1052.79% to $337.4 million in 2023, then jumped by 31.79% to $444.6 million in 2024, then rose by 23.75% to $550.2 million in 2025, then plunged by 50.64% to $271.6 million in 2026.
- According to Business Quant data, Research & Development over the past three periods registered $271.6 million, $550.2 million, and $121.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 10.00 Bn |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | 4.01 Bn |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 339.50 Mn |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 1.16 Bn |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 669.10 Mn |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 276.12 Mn |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 396.38 Mn |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | 60.00 Mn |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 664.96 Mn |
| 10 | NetApp | 40.59 Bn | 37.00 Bn | 1.37 Bn | 261.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 276.12 Mn |
| Mar 31, 2026 | 271.60 Mn |
| Dec 31, 2025 | 550.22 Mn |
| Sep 30, 2025 | 120.96 Mn |
| Jun 30, 2025 | 219.36 Mn |
| Mar 31, 2025 | 115.09 Mn |
| Dec 31, 2024 | 444.63 Mn |
| Sep 30, 2024 | 110.91 Mn |
| Jun 30, 2024 | 174.50 Mn |
| Mar 31, 2024 | 87.70 Mn |
| Dec 31, 2023 | 337.38 Mn |
| Sep 30, 2023 | 90.59 Mn |
| Jun 30, 2023 | 89.61 Mn |
| Mar 31, 2023 | 137.00 Mn |
| Dec 31, 2022 | -35.41 Mn |
| Sep 30, 2022 | 116.03 Mn |
| Jun 30, 2022 | 117.62 Mn |
| Mar 31, 2022 | 100.06 Mn |
| Dec 31, 2021 | -42.44 Mn |
| Sep 30, 2021 | 46.77 Mn |