NET Profit Margins - Cloudflare, Inc.

Complete source-backed margin history.

Historical Profit Margins

Date	Gross margin	Operating margin	Net margin
2026-06-30	71.76%	-29.55%	-24.42%
2026-03-31	71.21%	-9.69%	-3.58%
2025-12-31	73.64%	-8.01%	-1.97%
2025-09-30	73.97%	-6.67%	-0.23%
2025-06-30	74.88%	-13.13%	-9.85%
2025-03-31	75.88%	-11.11%	-8.03%
2024-12-31	76.37%	-7.55%	-2.79%
2024-09-30	77.69%	-7.16%	-3.56%
2024-06-30	77.80%	-8.65%	-3.76%
2024-03-31	77.54%	-14.41%	-9.39%
2023-12-31	77.02%	-11.82%	-7.69%
2023-09-30	76.74%	-11.68%	-7.01%
2023-06-30	75.62%	-18.21%	-30.62%
2023-03-31	75.73%	-16.29%	-13.12%
2022-12-31	75.32%	-18.45%	-16.72%
2022-09-30	75.59%	-18.10%	-16.76%
2022-06-30	76.20%	-27.52%	-27.09%
2022-03-31	77.82%	-18.86%	-19.50%
2021-12-31	78.05%	-21.21%	-40.03%
2021-09-30	78.23%	-15.37%	-62.28%
2021-06-30	77.02%	-18.94%	-23.30%
2021-03-31	76.76%	-22.64%	-28.95%
2020-12-31	76.92%	-19.65%	-27.02%
2020-09-30	76.35%	-18.62%	-23.18%
2020-06-30	75.77%	-24.77%	-26.21%
2020-03-31	77.18%	-39.53%	-35.89%
2019-12-31	78.32%	-35.67%	-33.55%
2019-09-30	78.32%	-55.57%	-55.25%
2019-06-30	78.00%	-29.32%	-29.23%
2019-03-31	76.74%	-27.78%	-27.73%
2018-12-31	76.66%	-30.80%	-30.07%
2018-09-30	77.61%	-72.83%	-75.87%

Date	Gross margin	Operating margin	Net margin
2025-12-31	74.51%	-9.56%	-4.72%
2024-12-31	77.32%	-9.27%	-4.72%
2023-12-31	76.32%	-14.30%	-14.19%
2022-12-31	76.15%	-20.63%	-19.83%
2021-12-31	77.59%	-19.45%	-39.66%
2020-12-31	76.56%	-24.77%	-27.69%
2019-12-31	77.90%	-37.61%	-36.87%
2018-12-31	77.40%	-44.06%	-45.24%
2017-12-31	78.66%	-7.21%	-7.97%