Filing Flows › Cloudflare (NET) › Q2 2026 › vs Q2 2025
Cloudflare (NET) Q2 2026 vs Q2 2025 (year over year)
Cloudflare's revenue rose $184M (+36%) from $512M in Q2 2025 to $696M in Q2 2026.
Cloudflare, Q2 2026: revenue $696M (+36% year over year), operating margin -29.6%, net loss $170M, operating cash flow $118M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 8.1% | 6.5% | +1.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $696M | $512M | $184M | +36% |
| Other income, net | $37.8M | $20.0M | $17.8M | +89% |
| Net loss | $170M | $50.4M | $120M | +237% |
| Costs & expenses | $904M | $583M | $321M | +55% |
| Operating costs | $902M | $580M | $322M | +56% |
| Income tax | $2.0M | $3.2M | −$1.1M | -35% |
| Cost of revenue | $197M | $129M | $67.9M | +53% |
| Research & development | $159M | $135M | $24.9M | +19% |
| Sales & marketing | $276M | $219M | $56.8M | +26% |
| General & admin | $119M | $97.0M | $21.9M | +23% |
| Operating cash sources | $288M | $150M | $137M | +91% |
| Depreciation & amortization | $65.4M | $45.5M | $19.9M | +44% |
| Share-based compensation | $160M | $122M | $37.5M | +31% |
| Working capital & other | $62.3M | −$17.6M | $79.9M | — |
| Net loss absorbed | $170M | $50.4M | $120M | +237% |
| Operating cash flow | $118M | $99.8M | $17.8M | +18% |
| Free cash flow (company-reported) | $56.4M | $33.3M | $23.1M | +69% |
| Purchases of property and equipment | $50.0M | $59.9M | −$9.9M | -17% |
| Capitalized internal-use software | $11.2M | $6.6M | $4.6M | +69% |
Questions
How much did Cloudflare's revenue grow year over year in Q2 2026?
Cloudflare's revenue rose $184M (+36%) from $512M in Q2 2025 to $696M in Q2 2026.