Cloudflare Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-102.3M | $-78.8M | $-183.9M | $-193.4M | $-260.3M | $-119.4M | $-105.8M | $-87.2M |
| Depreciation & Amortization | $189.7M | $127.7M | $135.8M | $102.3M | $66.6M | $49.4M | $29.5M | $18.9M |
| Depreciation | $167.5M | $109.9M | $113.4M | $84.8M | $62.3M | $45.9M | $29.4M | $18.4M |
| Amortization | $15.0M | $12.7M | $20.0M | $15.2M | $2.9M | $3.1M | $100.0K | $500.0K |
| Stock-Based Compensation | $451.5M | $338.5M | $274.0M | $202.8M | $90.1M | $56.3M | $36.6M | $27.3M |
| Net Cash from Operating Activities | $603.1M | $380.4M | $254.4M | $123.6M | $64.6M | $-17.1M | $-38.9M | $-43.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $315.6M | $185.0M | $114.4M | $143.6M | $93.0M | $56.4M | $43.3M | $25.5M |
| Business Acquisitions | — | — | $6.1M | $88.2M | $5.6M | $13.9M | $0 | $0 |
| Net Cash from Investing Activities | $-1.81B | $-330.2M | $-186.2M | $-235.7M | $-709.3M | $-515.3M | $-417.6M | $-120.8M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $0 | $0 | $34.0K | $3.0K | $189.0K | $157.0K | $283.0K | $65.0K |
| Net Cash from Financing Activities | $2.00B | $12.8M | $-192.2M | $6.3M | $847.5M | $504.9M | $570.8M | $168.6M |
| Net Change in Cash | $800.1M | $63.0M | $-124.0M | $-105.8M | $202.8M | $-27.5M | $114.2M | $4.5M |
| Free Cash Flow | $287.5M | $195.4M | $140.0M | $-20.0M | $-28.3M | $-73.5M | $-82.2M | $-68.7M |