← Cloudflare, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $25.1m | $139.0m | $108.9m | $313.8m | $204.2m | $86.9m | $147.7m | $943.5m | |
| Accounts receivable, net | $25.2m | $33.9m | $63.5m | $95.5m | $148.5m | $248.3m | $316.8m | $382.5m | |
| Prepaid expenses and other current assets | $9.4m | $17.0m | $28.2m | $29.4m | $70.6m | $47.5m | $75.5m | $128.2m | |
| Total current assets | $196.7m | $689.9m | $1.1b | $2.0b | $1.9b | $2.0b | $2.3b | $4.6b | |
| Property and equipment, net | $73.2m | $101.5m | $123.7m | $183.7m | $286.6m | $322.8m | $467.4m | $618.7m | |
| Goodwill | $4.1m | $4.1m | $17.2m | $23.5m | $148.0m | $148.0m | $181.1m | $226.6m | |
| Acquired intangible assets, net | $156k | $31k | $2.8m | $1.3m | $32.5m | $19.6m | $21.9m | $41.8m | |
| Operating lease right-of-use assets | — | $0 | $43.1m | $130.3m | $132.4m | $138.6m | $168.4m | $237.6m | |
| Other noncurrent assets | $1.9m | $3.5m | $13.1m | $2.8m | $6.9m | $12.6m | $18.9m | $45.8m | |
| Available-for-sale securities | $135.6m | $498.0m | $923.2m | $1.5b | $1.4b | $1.6b | $1.7b | $3.2b | |
| Contract assets | $1.6m | $2.1m | $3.5m | $6.1m | $8.3m | $11.0m | $16.6m | $23.5m | |
| Restricted cash short-term | — | $0 | $2.6m | $3.0m | $10.6m | $2.5m | $4.3m | $9.4m | |
| Deferred contract acquisition costs, noncurrent | $15.9m | $25.2m | $44.2m | $70.3m | $93.1m | $133.2m | $172.2m | $219.5m | |
| Restricted cash | $6.4m | $6.7m | $6.7m | $4.2m | $471k | $1.8m | $2.2m | $1.5m | |
| Accrued expenses and other current liabilities | $15.7m | $28.3m | $45.6m | $38.1m | $66.4m | $63.6m | $81.6m | $109.1m | |
| Operating lease liabilities | — | $0 | $17.7m | $25.2m | $33.3m | $38.4m | $47.6m | $70.9m | |
| Deferred revenue | $16.8m | $30.8m | $54.9m | $116.5m | $218.6m | $347.6m | $477.8m | $684.2m | |
| Current portion of convertible senior notes, net | — | — | $0 | $12.1m | $0 | — | $0 | $1.3b | |
| Convertible senior notes, net | — | $0 | $383.3m | $1.1b | $1.4b | $1.3b | $1.3b | $2.0b | |
| Operating lease liabilities, noncurrent | — | $0 | $27.3m | $109.0m | $107.6m | $113.5m | $128.3m | $182.0m | |
| Total stockholders’ equity | ($113.5m) | $725.8m | $816.9m | $811.4m | $624.0m | $763.0m | $1.0b | $1.5b | |
| Total assets | $298.4m | $830.8m | $1.4b | $2.4b | $2.6b | $2.8b | $3.3b | $6.0b | |
| Total liabilities and stockholders’ equity | $298.4m | $830.8m | $1.4b | $2.4b | $2.6b | $2.8b | $3.3b | $6.0b | |
| Accounts payable | $14.3m | $11.5m | $14.5m | $26.1m | $35.6m | $53.7m | $105.8m | $84.1m | |
| Accrued compensation | — | — | $25.4m | $65.9m | $42.0m | $63.8m | $80.9m | $111.0m | |
| Deferred revenue, noncurrent | $220k | $804k | $1.9m | $4.7m | $11.7m | $17.2m | $22.1m | $41.1m | |
| Total current liabilities | $61.4m | $83.9m | $141.4m | $288.6m | $397.9m | $567.1m | $793.7m | $2.4b | |
| Other noncurrent liabilities | $6.7m | $9.8m | $9.9m | $7.1m | $10.5m | $15.5m | $23.6m | $29.3m | |
| Total liabilities | $80.4m | $105.0m | $563.7m | $1.6b | $2.0b | $2.0b | $2.3b | $4.6b | |
| Common stock | $85k | $294k | $304k | $321k | $328k | $337k | $344k | $351k | |
| Additional paid-in capital | $82.3m | $1.0b | $1.2b | $1.5b | $1.5b | $1.8b | $2.2b | $2.7b | |
| Accumulated deficit | ($195.9m) | ($301.7m) | ($420.5m) | ($680.8m) | ($839.9m) | ($1.0b) | ($1.1b) | ($1.2b) | |
| Accumulated other comprehensive income (loss) | ($57k) | $61k | $163k | ($2.6m) | ($11.9m) | $2.0m | ($4.3m) | $12.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.