Cloudflare (NET) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 71.8%
EBITDA Margin: -22.2%
Op. Margin: -29.6%
Net Margin: -24.4%

Op. margin of -29.6% is down 16.4% YoY — costs are rising relative to revenue. Net margin at -24.4% and gross margin of 71.8% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit