Cloudflare Inc-A 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedJune 30, 2025 For the transition period fromtoCommission file number:001-39039__________________________________________________ Cloudflare, Inc. (Exact name of registrant as specified in itscharter)__________________________________________________ (I.R.S. EmployerIdentification Number) 101 Townsend Street Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Table of contents As of July 17, 2025,312,872,178shares of the registrant's Class A common stock were outstanding and35,609,409shares of the registrant's Class B common stock were TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1Financial Statements (unaudited)8Condensed Consolidated Balance Sheets as ofJune30, 2025and December31, 20248Condensed Consolidated Statements of Operations for the ThreeandSix Months Ended June 30, 2025and20249Condensed Consolidated Statements of Comprehensive Income (Loss) for the ThreeandSix MonthsEnded June 30, 2025and202410Condensed Consolidated Statements of Stockholders' Equity for the ThreeandSix Months Ended June 30,2025and202411Condensed Consolidated Statements of Cash Flows for theSix Months Ended June 30, 2025and202415Notes to Condensed Consolidated Financial Statements16Item 2Management's Discussion and Analysis of Financial Condition and Results of Operations34Item 3Quantitative and Qualitative Disclosures about Market Risk51Item 4Controls and Procedures52 PART II. OTHER INFORMATION Item 1Legal ProceedingsItem 1ARisk FactorsItem 2Unregistered Sales of Equity Securities and Use of ProceedsItem 5Other InformationItem 6ExhibitsSignatures 5454106106107109 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Actof 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantialrisks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operatingperformance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,”“should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,”“potential,” or “continue,” or the negative of these words, or other similar terms or expressions that concern our expectations,strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: •our ability to retain and upgrade paying customers;•our ability to attract new paying customers, including large customers, or convert free customers to paying customers;•our future financial performance, including trends in revenue, costs of revenue, gross profit or gross margin, operatingexpenses, paying customers, and free cash flow;•our ability to achieve or maintain profitability and positive cash flow;•the impact of adverse economic conditions on our customers’ spending ability and the overall demand for our products;•the consequences we may face resulting from the activities of our customers and the actions we take in response,including associated theories of liability;•the demand, and our ability to generate demand, for our products or for solutions for security, performance, and reliabilityin general;•possible harm caused by significant disruption of service, loss or unauthorized access to customers’ content, or the actualor perceived failure of our products to pr