Cloudflare reported Q3 2025 results with revenue of $562 million, up 31% year‑over‑year and exceeding the consensus estimate of $544.9 million.
Non‑GAAP earnings per share were $0.27, above the estimate of $0.23.
The non‑GAAP operating margin was 15%, an increase from 14.1% in Q3 2024.
Gross profit reached $415.7 million, giving a non‑GAAP gross margin of 76.3%, higher than the 74% previously reported.
Free cash flow was $75 million, 13% of revenue, up 59.6% year‑over‑year from $45.3 million in Q3 2024.
Prior‑period comparisons show Q3 2024 revenue of $430.1 million, non‑GAAP EPS of $0.20, and free cash flow of $45.3 million.
Management highlighted strong demand from large enterprise customers and AI workloads, noting that 80% of major AI companies are Cloudflare customers.
Guidance for Q4 2025 projects revenue of $588.5‑$589.5 million and full‑year 2025 revenue of $2.142‑$2.143 billion.
Cash, cash equivalents, and available‑for‑sale securities were $3.96 billion as of June 30 2025 and $4.04 billion as of September 30 2025.
Cloudflare remains competitive in the cybersecurity and cloud services market, with growing penetration in Fortune 500 companies and expanding AI‑driven services.
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