Fastly, Inc.

fastly.com

What Do They Do?

Delivers edge cloud services that speed up websites, apps and digital media, and protect applications and APIs for enterprises and technology-focused organizations.

How Do They Make Money?

Customers pay mainly for Network Services based on committed or actual platform use, measured in gigabytes and requests. Security and other products and services may carry a flat one-time or recurring monthly fee; payment terms vary by contract and generally range from 30 to 90 days.

revenue

Segment	Share	How money arrives
Network Services Usage-based	77% FY2022: 81%	Usage-based
Security	20% FY2022: 18%
Other	3.4% FY2022: 1.2%

Who Are Their Customers?

Customers range from emerging companies to large enterprises across industries including ecommerce, streaming media, gaming and digital publishing. Fastly sells directly through sales teams and also offers online sign-up.

Do Revenues Turn Into Profits?

Not on paper. It lost $121.7M in FY2025, but brought in more cash than it spent: $65.8M of free cash flow.

Operating income, FY2025

−19% of revenue

▼ −29% (Loss) vs FY2024 (−$167.9M, −31%)

Net income, FY2025

−19% of revenue

▼ −23% (Loss) vs FY2024 (−$158.1M, −29%)

Free cash flow, FY2025

11% of revenue

▲ +982% vs FY2024 ($6.1M, 1%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +23%; vs $148.7M in Q2 FY2025
Net income: ▼ −58% (Loss); vs −$37.5M in Q2 FY2025

Network Services share of revenue vs 77.3% in Q2 FY2025

Aug 5, 2026 Raised full-year outlook The release set full-year revenue guidance at $732.0–$746.0 million and non-GAAP operating income at $88.0–$96.0 million.
Mar 5, 2026 Replaced Deloitte with KPMG as independent auditor The audit committee appointed KPMG and dismissed Deloitte; KPMG had not yet accepted the engagement as of the report date.

Growing. Revenue grew 76% in 4 years, from $354.3M in FY2021 to $624M in FY2025, about 15% a year.

AI workload support The older report describes a programmable edge compute platform; the latest describes support for AI workloads and capabilities for managing agentic AI traffic.

Revenue over time

Network Services Security Other

$1B$500M$0

FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Akamai, Cloudflare, F5, Thales, Bunny CDN, CDNetworks, CDN77, Qwilt, Amazon Web Services, Google Cloud Platform, Microsoft, and Radware

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