Cloudflare (NET) r&d spend was $512M in FY2025 (+22% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$512M
+22%
2024
$421M
+18%
2023
$358M
+20%
2022
$298M
+57%
2021
$189M
+49%
2020
$127M
+40%
2019
$91M
+66%
2018
$54M
+62%
2017
$34M
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q1 2026
$151M
Q4 2025
$142M
Q3 2025
$121M
Q2 2025
$135M
Q1 2025
$115M
Q4 2024
$120M
Q3 2024
$111M
Q2 2024
$103M
Q1 2024
$88M
Q4 2023
$96M
Q3 2023
$91M
Q2 2023
$90M
Source: NET on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.