CloudFlare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices. Its security products comprise cloud firewall, bot management, distributed denial of service, IoT, SSL/TLS, secure origin connection, and rate limiting products. The company also offers performance solutions, which include content delivery and intelligent routing, as well as content, mobile, and image optimization solutions. In addition, it provides reliability solutions comprising load balancing, anycast network, virtual backbone, DNS, DNS resolver, online, and virtual waiting room solutions. Further, the company offers Cloudflare internal infrastructure solutions, including on-ramps, which connect users, devices, or locations to its network; and filters, which are the products that protect, inspect, and privilege data. Additionally, it provides developer-based solutions, such as serverless computing/programmable network, website development, domain registration, Cloudflare apps, analytics, and data localization management; Consumer DNS Resolver, a consumer app to browse the Internet; and Consumer VPN for consumers to secure and accelerate traffic on mobile devices. The company serves customers in the technology, healthcare, financial services, consumer and retail, and non-profit industries, as well as government. CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.

Cloudflare, Inc.

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Weighted-Average Shares Used in Computing Net Loss per Share Attributable to Common Stockholders, Basic and Diluted

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Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	991.4	890	779.6	698.1	598.7	528.6
Total Revenues %Chg	27.2%	27.5%	30.2%	32.1%	34%	44.4%
Revenue
Cost of Sales	244.3	204.7	174	161.4	145.7	129.8
Cost of Revenue
Gross Profit	747.2	685.4	605.5	536.7	453	398.8
Gross Profit
Gross Profit Margin	75.4%	77%	77.7%	76.9%	75.7%	75.5%
Selling, General & Administrative Expenses	618	519.8	504.5	431.8	385.3	339.3
Sales and Marketing
General and Administrative
Research & Development Expenses	249.6	231.1	190.3	187	171.1	156.1
Research and Development
Operating Profit	-120.5	-65.5	-89.2	-82	-103.4	-96.6
Loss from Operations
Operating Margin	-12.2%	-7.4%	-11.4%	-11.8%	-17.3%	-18.3%
Interest and Investment Income	46.8	44.5	43	38.1	30	12.2
Interest Income
Interest Expense	-3	-2.9	-2.3	-2.2	-3.7	-2.4
Interest Expense
Non-Operating Income	-7.4	0.3	1.4	-2	-52.7	0.8
Loss on Extinguishment of Debt
Other Income, Net
Total Non-Operating Income	36.5	41.8	42	33.9	-26.3	10.6
Income Before Provision for Income Taxes	-84	-23.7	-47.2	-48.1	-129.8	-86
Income Before Income Taxes
Provision for Income Taxes	4.9	4.5	3.4	3.3	2.8	2.4
Provision for Income Taxes
Consolidated Net Income	-88.9	-28.2	-50.6	-51.4	-132.5	-88.5
Net Income Attributable to Common Shareholders	-88.9	-28.2	-50.6	-51.4	-132.5	-88.5
Net Loss
Basic EPS	-0.3	-0.1	-0.2	-0.2	-0.4	-0.3
Diluted EPS	-0.3	-0.1	-0.2	-0.2	-0.4	-0.3
Basic Weighted Average Shares Outstanding	346.6	343.2	339.6	335.9	331.4	328.1
Total Shares Outstanding	348.4	344.9	341.5	337.5	333.6	330.1
Diluted Weighted Average Shares Outstanding	346.6	343.2	339.6	335.9	331.4	328.1
EBITDA	16.7	45.3	9.5	23	-6.8	-12.4
Effective Tax Rate	-5.8%	-19.1%	-7.2%	-6.9%	-2.1%	-2.8%