Q4 25 EPS
$0.28
BEAT +3.70%
Est. $0.27
Q4 25 Revenue
$614.5M
BEAT +3.94%
Est. $591.2M
vs S&P Since Q4 25
+18.4%
BEATING MARKET
NET +27.4% vs S&P +9.0%
Full Year 2025 Results
FY 25 EPS
$0.93
BEAT +1.81%
Est. $0.91
FY 25 Revenue
$2.17B
BEAT +1.08%
Est. $2.14B
Market Reaction
Did NET Beat Earnings? Q4 2025 Results
Cloudflare closed fiscal 2025 with a decisive beat on both top and bottom lines, capping a quarter that validated the company's aggressive push into AI-driven infrastructure. Revenue for Q4 came in at $614.51 million, up 33.6% year-over-year and ahea… Read more Cloudflare closed fiscal 2025 with a decisive beat on both top and bottom lines, capping a quarter that validated the company's aggressive push into AI-driven infrastructure. Revenue for Q4 came in at $614.51 million, up 33.6% year-over-year and ahead of the $591.24 million consensus by 3.94%, while non-GAAP EPS of $0.28 edged past the $0.27 estimate by 3.70%. The standout driver behind the momentum was deal velocity: Cloudflare closed its largest annual contract value deal ever and grew total new ACV nearly 50% year-over-year, its fastest expansion since 2021, as CEO Matthew Prince positioned the platform as the network AI agents run on and through. Free cash flow more than doubled to $99.44 million, representing a 16% margin. Shares surged roughly 12% after hours on the results, with full-year 2026 revenue guidance of approximately $2.79 billion implying continued growth of around 29%, reinforcing investor confidence in Cloudflare's expanding enterprise footprint.
Key Takeaways
- • Largest annual contract value deal ever closed, averaging $42.5 million per year
- • Total new ACV grew nearly 50% year-over-year, fastest growth rate since 2021
- • RPO year-over-year growth of 48% and Current RPO year-over-year growth of 34%
- • AI and agentic computing driving demand across performance, security, and networking services
- • Free cash flow margin expanded to 16% from 10% year-over-year in Q4
NET YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“We had an exceptionally strong end to 2025. In Q4, we closed our largest annual contract value deal ever—averaging $42.5 million per year—and total new ACV grew nearly 50 percent year-over-year, our fastest growth rate since 2021.”
— Matthew Prince, Q4 2025 Earnings Press Release
NET Earnings Trends
NET vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NET EPS Trend
Earnings per share: estimate vs actual
NET Revenue Trend
Quarterly revenue: estimate vs actual
NET Quarterly Results
10 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.25 | — | $639.8M | +2.75% |
| Q4 25 BEAT FY | $0.27 | $0.28 | +3.70% | $614.5M | +3.94% |
| FY Full Year | $0.91 | $0.93 | +1.81% | $2.17B | +1.08% |
| Q3 25 BEAT | $0.23 | $0.27 | +15.34% | $562.0M | +3.13% |
| Q2 25 BEAT | $0.18 | $0.21 | +15.51% | $512.3M | +2.14% |
| Q1 25 MISS | $0.16 | $0.16 | -1.54% | $479.1M | +2.00% |
| Q4 24 BEAT FY | $0.18 | $0.19 | +5.56% | $459.9M | +1.73% |
| FY Full Year | $0.74 | $0.75 | +0.81% | $1.67B | +0.47% |
| Q3 24 BEAT | $0.18 | $0.20 | +11.11% | $430.1M | +1.41% |
| Q2 24 BEAT | $0.14 | $0.20 | +42.86% | $401.0M | +1.53% |
| Q1 24 BEAT | $0.13 | $0.16 | +23.08% | $378.6M | +1.48% |
| Q3 21 | $-0.04 | — | — | — | — |