# Cloudflare, Inc. Class A common stock, par value $0.001 per share (NET) — Stock CV

Cloudflare, Inc. is a $129B technology company. Revenue grew 33.5% over the last year, and it currently loses money.

> Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN.

## Identity

- **Ticker**: NET
- **Sector**: Technology
- **Industry**: Services-Prepackaged Software
- **Headquarters**: SAN FRANCISCO, CA
- **Employees**: 5 483
- **Website**: https://www.cloudflare.com
- **Market cap**: $129B
- **Last price**: $361.80
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $2.51B
- **Net income**: -$206M
- **Free cash flow**: $348M
- **Revenue growth (YoY)**: 33.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 25 |
| Growth | 25 |
| Profitability | 0 |
| Health | 18 |
| Quality | 37 |
| Moat | 30 |

## Qualifications (beginner checklist) — 4 of 9 passed

- [x] Revenue growing — +33.5% YoY
- [ ] Profitable — -$206M TTM
- [ ] Profit growing — -29.8% YoY
- [x] Generates cash — $348M TTM
- [x] Debt under control — current ratio 1.82
- [x] Established company — $129B market cap
- [ ] Not printing shares — +11.6% shares over ~5y
- [ ] Proven track record — 0/7 profitable years
- [ ] Financially stable — health score 18/100

## Experience (career milestones)

- **2026** — Cloudflare released an analysis regarding BGP routing leaks observed from the Venezuelan…
- **2026** — Cloudflare acquired Human Native, an AI data marketplace that brokers transactions between…
- **2025** — Cloudflare announced a new feature called "AI Labyrinth"
- **2024** — Cloudflare launched a tool that prevents bots from scraping websites
- **2024** — Cloudflare acquired Nefeli Networks in March 2024, a cloud networking company, co-founded by computer scientist…
- **FY2023** — Revenue crossed $1B: $1.30B for the year
- **2022** — Cloudflare released an Oblivious HTTP relay service in 2022, called Privacy Gateway
- **2022** — Cloudflare announced the acquisition of Area 1 Security in February 2022, a company who developed a product designed…
- **2020** — Cloudflare released a JAMstack platform for developers to deploy websites on Cloudflare's Edge…
- **Aug 15, 2019** — Cloudflare submitted its S-1 filing for an initial public offering on the New York Stock…
- **2009** — Cloudflare was founded in 2009 by Matthew Prince, Lee Holloway, and Michelle Zatlyn

## Strengths

- High gross margin (72.6%)
- Revenue growing 33.5% year over year

## Watch-outs

- Not profitable — 8.2% net margin
- Thin interest coverage (-4.2×)
- Loss-making in 7 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $656M | -$260M | -$28.3M |
| FY2022 | $975M | -$193M | -$20.0M |
| FY2023 | $1.30B | -$184M | $140M |
| FY2024 | $1.67B | -$78.8M | $195M |
| FY2025 | $2.17B | -$102M | $287M |

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Source: https://stockcv.com/NET — derived from company filings; may be delayed or incomplete. Information, not investment advice.