Quick Answer
Cloudflare, Inc. reported R&D Expense of $512.49 million for fiscal year 2025.
Cloudflare, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $512.49M | +21.6% |
| 2024 | $421.37M | +17.7% |
| 2023 | $358.14M | +20.1% |
| 2022 | $298.30M | +57.5% |
| 2021 | $189.41M | +49.0% |
| 2020 | $127.14M | +40.2% |
| 2019 | $90.67M | +66.5% |
| 2018 | $54.46M | +61.9% |
| 2017 | $33.65M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $120.96M | +9.1% | -10.1% |
| June 30, 2025 | $134.56M | +31.2% | +16.9% |
| March 31, 2025 | $115.09M | +31.2% | +3.8% |
| September 30, 2024 | $110.91M | +22.4% | +8.2% |
| June 30, 2024 | $102.55M | +14.4% | +16.9% |
| March 31, 2024 | $87.70M | +7.6% | -3.2% |
| September 30, 2023 | $90.59M | +18.5% | +1.1% |
| June 30, 2023 | $89.61M | +19.3% | +9.9% |
- Cloudflare, Inc. showed an increase of +21.6% in R&D Expense compared to the prior fiscal year.
- Over the 2017–2025 period, Cloudflare, Inc.’s r&d expense has grown by 1423.0% (from $33.65 million to $512.49 million).
- The most recent figure is from Cloudflare, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 26, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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