Cloudflare annual capital expenditures (capex)
2017
2018
2019
2020
2021
2022
2023
2024
2025
Cloudflare Capital Expenditures (CapEx) Growth & History (NET)
Cloudflare's capital expenditures (capex) was $315.6M for fiscal 2025.
View full Cloudflare company overviewCloudflare annual capital expenditures (capex) history
| Fiscal year | Period ended | Capital expenditures (CapEx) | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $315.6M | $130.6M | +70.57% |
| 2024 | 2024-12-31 | $185.0M | $70.6M | +61.75% |
| 2023 | 2023-12-31 | $114.4M | −$29.2M | −20.34% |
| 2022 | 2022-12-31 | $143.6M | $50.6M | +54.44% |
| 2021 | 2021-12-31 | $93.0M | $36.6M | +64.94% |
| 2020 | 2020-12-31 | $56.4M | $13.1M | +30.23% |
| 2019 | 2019-12-31 | $43.3M | $17.8M | +69.99% |
| 2018 | 2018-12-31 | $25.5M | $6.4M | +33.81% |
| 2017 | 2017-12-31 | $19.0M | — | — |
Cloudflare quarterly capital expenditures (capex)
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Capital expenditures (CapEx) | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $50.0M | −$9.9M | −16.59% |
| Q1 2026 | 2026-03-31 | $65.2M | −$20.7M | −24.05% |
| Q4 2025 | 2025-12-31 | $85.2M | $12.0M | +16.45% |
| Q3 2025 | 2025-09-30 | $84.6M | $34.4M | +68.60% |
| Q2 2025 | 2025-06-30 | $59.9M | $30.3M | +102.18% |
| Q1 2025 | 2025-03-31 | $85.9M | $53.8M | +167.93% |
| Q4 2024 | 2024-12-31 | $73.2M | $42.3M | +137.39% |
| Q3 2024 | 2024-09-30 | $50.2M | $22.9M | +83.95% |
| Q2 2024 | 2024-06-30 | $29.6M | −$9.1M | −23.54% |
| Q1 2024 | 2024-03-31 | $32.1M | $14.5M | +82.75% |
| Q4 2023 | 2023-12-31 | $30.8M | −$9.3M | −23.24% |
| Q3 2023 | 2023-09-30 | $27.3M | −$14.6M | −34.86% |
| Q2 2023 | 2023-06-30 | $38.7M | $1.7M | +4.49% |
| Q1 2023 | 2023-03-31 | $17.5M | −$6.9M | −28.35% |
| Q4 2022 | 2022-12-31 | $40.1M | $11.8M | +41.68% |
| Q3 2022 | 2022-09-30 | $41.9M | $13.1M | +45.41% |
| Q2 2022 | 2022-06-30 | $37.1M | $23.5M | +173.24% |
| Q1 2022 | 2022-03-31 | $24.5M | $2.2M | +9.94% |
| Q4 2021 | 2021-12-31 | $28.3M | $17.9M | +172.10% |
| Q3 2021 | 2021-09-30 | $28.8M | $13.5M | +87.61% |
| Q2 2021 | 2021-06-30 | $13.6M | −$5.6M | −29.31% |
| Q1 2021 | 2021-03-31 | $22.3M | $10.9M | +95.25% |
| Q4 2020 | 2020-12-31 | $10.4M | −$1.9M | −15.40% |
| Q3 2020 | 2020-09-30 | $15.4M | $3.4M | +28.07% |
| Q2 2020 | 2020-06-30 | $19.2M | $9.2M | +92.89% |
| Q1 2020 | 2020-03-31 | $11.4M | $2.4M | +26.22% |
| Q4 2019 | 2019-12-31 | $12.3M | — | — |
| Q3 2019 | 2019-09-30 | $12.0M | — | — |
| Q2 2019 | 2019-06-30 | $10.0M | — | — |
| Q1 2019 | 2019-03-31 | $9.0M | — | — |
Cloudflare capital expenditures (capex) trends
Over the last five fiscal years, Cloudflare's capital expenditures (capex) increased from $56.4M to $315.6M, a change of $259.2M. The latest reported quarter, Q2 2026, shows $50.0M.
About the metric
What capital expenditures (CapEx) mean
Capital expenditures, commonly called CapEx, are cash investments in long-lived assets such as property, plants, equipment, infrastructure, and productive software. CapEx can support future growth or maintain existing operations, but it reduces current-period free cash flow.
Calculation and source
SEC-reported capital expenditures
TickerStat standardizes cash payments for property, plant, equipment, and other productive assets reported in company SEC filings. When a filer reports separate qualifying CapEx components instead of a total, those components are combined for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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