Cloudflare (NET) operating expenses was $1.8B in FY2025 (+26% YoY). The tables below show the complete quarterly and annual operating expenses history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual Operating Expenses
Fiscal Year
Operating Expenses
YoY
2025
$1.8B
+26%
2024
$1.4B
+23%
2023
$1.2B
+25%
2022
$944M
+48%
2021
$637M
+46%
2020
$437M
+32%
2019
$332M
+42%
2018
$234M
+102%
2017
$116M
Recent Quarterly Operating Expenses
Quarter
Operating Expenses
Q1 2026
$518M
Q4 2025
$502M
Q3 2025
$453M
Q2 2025
$451M
Q1 2025
$417M
Q4 2024
$386M
Q3 2024
$365M
Q2 2024
$347M
Q1 2024
$348M
Q4 2023
$322M
Q3 2023
$297M
Q2 2023
$289M
Source: NET on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.