Filing Flows › Cloudflare (NET) › Q3 2026
Cloudflare (NET) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Cloudflare (NET) reported revenue of $783M for the third quarter 2026 (Q3 2026), +39% from a year earlier and +12% from the quarter before. Operating margin was -8.7%, net loss $34.1M (4.4% of revenue).
Cloudflare, Q3 2026: revenue $783M (+39% year over year), operating margin -8.7%, net loss $34.1M, operating cash flow $215M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $783M | +12% | +39% |
| Operating profit | −$67.9M | — | — |
| Net earnings | −$34.1M | — | — |
| Operating cash flow | $215M | +83% | +29% |
| Free cash flow | $82.1M | — | +9% |
What changed
Revenue was $782.5M in Q3 2026, up 39% year over year and up 12% from the previous quarter.
Gross margin was 71.2%, down 2.8 points from Q3 2025. Operating costs exceeded revenue by $67.9M, an operating margin of -8.7%. Operating expenses grew 38% against revenue growth of 39%. The fastest-growing cost line was Sales & marketing (+43%). The quarter ended with a net loss of $34.1M, narrower than the previous quarter's $170.0M loss. Non-operating items added $40.6M, -149% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $215.4M (up 29% year over year). Non-cash charges added back $67.4M of depreciation and amortization and $167.6M of share-based compensation. Working capital and other items added $14.4M. After purchases of property and equipment ($121.8M) and capitalized internal-use software ($11.5M), free cash flow as the company reports it was $82.1M.
Questions
What was Cloudflare's revenue in the third quarter 2026?
Cloudflare (NET) reported revenue of $783M for the third quarter 2026 (Q3 2026), +39% from a year earlier and +12% from the quarter before.
Was Cloudflare profitable in the third quarter 2026?
Operating loss was $67.9M (-8.7% of revenue) and net loss $34.1M.
Source: Cloudflare 10-Q on SEC EDGAR.