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An announcement from Cloudflare ( (NET) ) is now available.
On February 10, 2026, Cloudflare reported fourth-quarter and full-year 2025 results showing strong top-line growth and improving profitability metrics, underpinned by rising demand from AI- and agent-driven Internet workloads. Fourth-quarter revenue rose 34% year-over-year to $614.5 million and full-year revenue climbed nearly 30% to $2.17 billion, while the company closed its largest-ever contract and expanded remaining performance obligations, signaling robust enterprise adoption.
Despite a GAAP operating loss of $49.2 million in the quarter and $207.2 million for 2025, Cloudflare delivered meaningful non-GAAP profitability, including Q4 non-GAAP operating income of $89.6 million and free cash flow margins expanding to 16.2% in Q4 and 12.0% for the year. Management framed the rise of AI agents as a structural tailwind that is driving more code and traffic onto its network, reinforcing Cloudflare’s positioning as a core infrastructure provider and strengthening its financial profile for investors, as evidenced by higher operating cash flow and a cash balance exceeding $4.1 billion at year-end 2025.
Cloudflare also reiterated its use of multiple disclosure channels, including its website, investor portal, press site, and social media accounts, to disseminate material information to investors and the public. The company emphasized that supplemental financial data and reconciliations of GAAP to non-GAAP figures are available on its investor relations website as part of its broader effort to provide transparency around financial performance and business trends.
The most recent analyst rating on (NET) stock is a Hold with a $230.00 price target. To see the full list of analyst forecasts on Cloudflare stock, see the NET Stock Forecast page.
Spark’s Take on NET Stock
According to Spark, TipRanks’ AI Analyst, NET is a Neutral.
The score is primarily supported by solid financial momentum (growth and improving cash flow) and a strong earnings-call outlook with improving retention and operating profitability. These positives are tempered by weak valuation signals due to lack of GAAP profitability and only mixed technical momentum.
To see Spark’s full report on NET stock, click here.
More about Cloudflare
Cloudflare, Inc. is a connectivity cloud company that provides security, performance, and networking services delivered via a global distributed network. Its platform supports modern Internet workloads, including AI agents and applications running on Cloudflare Workers, and targets enterprises seeking scalable, secure infrastructure for increasingly AI-driven traffic and automation demands.
Average Trading Volume: 3,380,664
Technical Sentiment Signal: Hold
Current Market Cap: $60.67B
For an in-depth examination of NET stock, go to TipRanks’ Overview page.