Cloudflare, Inc. (NET) Financial Statements (2024 and earlier)

Company Profile

Business Address 101 TOWNSEND ST.
SAN FRANCISCO, CA 94107
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,649,9371,821,8431,032,096636,948
Cash and cash equivalents204,178313,777108,895138,976
Short-term investments1,445,7591,508,066923,201497,972
Restricted cash and investments10,5552,9582,591 
Receivables148,54495,54363,49933,867
Prepaid expense   13,68910,913
Contract with customer, asset, after allowance for credit loss8,2926,0793,5382,063
Deposits current assets   4,2462,773
Other current assets   10,2953,308
Other undisclosed current assets70,55629,433  
Total current assets:1,887,8841,955,8561,129,954689,872
Noncurrent Assets
Operating lease, right-of-use asset132,360130,31443,148 
Property, plant and equipment286,600183,736123,688101,466
Intangible assets, net (including goodwill)180,53024,78419,9674,114
Goodwill148,04723,53017,1674,083
Intangible assets, net (excluding goodwill)32,4831,2542,80031
Capitalized contract cost, net93,14570,32044,17625,184
Restricted cash and investments4714,2236,6606,660
Other noncurrent assets6,9182,83813,0583,528
Total noncurrent assets:700,024416,215250,697140,952
TOTAL ASSETS:2,587,9082,372,0711,380,651830,824
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities77,62191,99146,81131,764
Employee-related liabilities42,01465,90525,41014,970
Accounts payable35,60726,08614,48511,463
Accrued liabilities  6,9165,331
Deferred revenue218,647116,54654,94530,843
Debt  12,117  
Deferred compensation liability1,9024,6518,60313,263
Other undisclosed current liabilities99,70063,26031,0188,013
Total current liabilities:397,870288,565141,37783,883
Noncurrent Liabilities
Long-term debt and lease obligation1,436,1921,255,914410,584 
Long-term debt, excluding current maturities1,436,1921,146,877383,275 
Liabilities, other than long-term debt129,88211,79411,75010,607
Deferred revenue11,7324,6801,891804
Other liabilities10,5267,1149,8599,803
Operating lease, liability107,624109,03727,309 
Other undisclosed noncurrent liabilities    10,506
Total noncurrent liabilities:1,566,0741,267,708422,33421,113
Total liabilities:1,963,9441,556,273563,711104,996
Temporary equity, carrying amount  4,439  
Equity
Equity, attributable to parent, including:623,964811,359816,940725,828
Additional paid in capital1,475,4231,494,5121,236,9931,027,179
Accumulated other comprehensive income (loss)(11,896)(2,645)16361
Accumulated deficit(839,891)(680,829)(420,520)(301,706)
Other undisclosed equity, attributable to parent328321304294
Total equity:623,964811,359816,940725,828
TOTAL LIABILITIES AND EQUITY:2,587,9082,372,0711,380,651830,824

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues975,241656,426431,059287,022
Cost of revenue(232,610)(147,134)(101,055)(63,423)
Gross profit:742,631509,292330,004223,599
Operating expenses(943,834)(636,976)(436,772)(331,545)
Operating loss:(201,203)(127,684)(106,768)(107,946)
Nonoperating income (expense)10,470(120,292)(18,205)3,233
Investment income, nonoperating14,8771,9706,5885,787
Other nonoperating income (expense)577(794)171(1,442)
Interest and debt expense(4,984)(72,234)(24,336)(1,112)
Loss from continuing operations before equity method investments, income taxes:(195,717)(320,210)(149,309)(105,825)
Other undisclosed income from continuing operations before income taxes4,98472,23424,3361,112
Loss from continuing operations before income taxes:(190,733)(247,976)(124,973)(104,713)
Income tax expense (benefit)(2,648)(12,333)5,603(1,115)
Loss from continuing operations:(193,381)(260,309)(119,370)(105,828)
Loss before gain (loss) on sale of properties:(260,309)(119,370)(105,828)
Net loss available to common stockholders, diluted:(193,381)(260,309)(119,370)(105,828)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net loss:(193,381)(260,309)(119,370)(105,828)
Comprehensive loss:(193,381)(260,309)(119,370)(105,828)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(9,251)(2,808)102118
Comprehensive loss, net of tax, attributable to parent:(202,632)(263,117)(119,268)(105,710)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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