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Fastly, Inc. operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet. The company offers network services to speed up and optimize the delivery of web and application traffic; content delivery network, such as dynamic site acceleration, origin shield, instant purge, surrogate keys, programmatic control, content compression, reliability features, fanout, domainr, modern protocols and performance services; staging environment; and video/ streaming solutions and services, including live streaming, live event monitoring, video on demand, cache reservation, and media shield. It also provides security solutions, such as DDoS protection, next-gen WAF, bot management, API and ATO protection, advanced rate limiting, privacy, and compliance services; load balancing; image optimization; and origin connect. In addition, the company offers professional services comprising managed and response security services; managed CDN; and support plans services. It serves customers operating in ecommerce, streaming media, gaming, digital publishing, and high tech to financial services industries. The company was formerly known as SkyCache, Inc. and changed its name to Fastly, Inc. in May 2012. Fastly, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $624M | $-29M | $-122M | $48M | -13.1% | 14.8% | - |
| 2024 | $544M | $-79M | $-158M | $-21M | -16.4% | 7.4% | - |
| 2023 | $506M | $-57M | $-133M | $-32M | -13.6% | 16.9% | - |
| 2022 | $433M | $-120M | $-191M | $-150M | -20.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 432.73 | 505.99 | 543.68 | 624.02 |
| Cost Of Revenue | 222.94 | 239.66 | 247.74 | 267.81 |
| Gross Profit | 209.78 | 266.33 | 295.94 | 356.20 |
| Operating Expense | 455.98 | 460.04 | 449.99 | 474.79 |
| Operating Income | -246.20 | -193.71 | -154.05 | -118.58 |
| EBITDA | -120.48 | -57.23 | -79.07 | -28.64 |
| EBIT | -184.79 | -129.26 | -152.71 | -106.49 |
| Pretax Income | -190.68 | -133.31 | -155.45 | -119.19 |
| Tax Provision | 0.09 | -0.22 | 2.60 | 2.49 |
| Net Income | -190.77 | -133.09 | -158.06 | -121.68 |
| Net Income Common Stockholders | -190.77 | -133.09 | -158.06 | -121.68 |
| Total Expenses | 678.92 | 699.70 | 697.73 | 742.60 |
| Interest Expense | 5.89 | 4.05 | 2.75 | 12.70 |
| Interest Income | 7.04 | 18.19 | 14.87 | 12.29 |
| Research And Development | 155.31 | 152.19 | 137.98 | 162.66 |
| Selling General And Administration | 300.67 | 307.85 | 312.01 | 312.13 |
| Normalized EBITDA | -174.87 | -105.33 | -66.57 | -29.16 |
| Normalized Income | -245.16 | -181.19 | -148.18 | -122.09 |
| Basic EPS | -1.57 | -1.03 | -1.14 | -0.83 |
| Diluted EPS | -1.57 | -1.03 | -1.14 | -0.83 |
| Tax Effect Of Unusual Items | 0 | 0 | -2.62 | 0.11 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0.21 |
| Total Unusual Items | 54.39 | 48.10 | -12.50 | 0.53 |
| Total Unusual Items Excluding Goodwill | 54.39 | 48.10 | -12.50 | 0.53 |
| Net Income From Continuing Operation Net Minority Interest | -190.77 | -133.09 | -158.06 | -121.68 |
| Reconciled Depreciation | 64.31 | 72.03 | 73.64 | 77.85 |
| Reconciled Cost Of Revenue | 222.94 | 239.66 | 247.74 | 267.81 |
| Net Interest Income | 1.16 | 14.13 | 12.12 | -0.41 |
| Net Income From Continuing And Discontinued Operation | -190.77 | -133.09 | -158.06 | -121.68 |
| Total Operating Income As Reported | -246.20 | -198.03 | -167.91 | -119 |
| Diluted Average Shares | 121.72 | 128.77 | 138.10 | 146.90 |
| Basic Average Shares | 121.72 | 128.77 | 138.10 | 146.90 |
| Diluted NI Availto Com Stockholders | -190.77 | -133.09 | -158.06 | -121.68 |
| Net Income Including Noncontrolling Interests | -190.77 | -133.09 | -158.06 | -121.68 |
| Net Income Continuous Operations | -190.77 | -133.09 | -158.06 | -121.68 |
| Other Income Expense | 54.36 | 46.27 | -13.53 | -0.20 |
| Other Non Operating Income Expenses | -0.03 | -1.83 | -1.03 | -0.72 |
| Special Income Charges | 54.39 | 48.10 | -12.50 | 0.53 |
| Other Special Charges | -54.39 | -52.42 | -1.36 | -0.94 |
| Write Off | 0 | 4.32 | 4.14 | 0 |
| Impairment Of Capital Assets | 0 | 4.32 | 4.14 | 0.41 |
| Restructuring And Mergern Acquisition | 0 | 0 | 9.72 | 0 |
| Net Non Operating Interest Income Expense | 1.16 | 14.13 | 12.12 | -0.41 |
| Interest Expense Non Operating | 5.89 | 4.05 | 2.75 | 12.70 |
| Interest Income Non Operating | 7.04 | 18.19 | 14.87 | 12.29 |
| Selling And Marketing Expense | 179.87 | 191.77 | 198.61 | 201.43 |
| General And Administrative Expense | 120.80 | 116.08 | 113.40 | 110.69 |
| Other Gand A | 120.80 | 116.08 | 113.40 | 110.69 |
| Operating Revenue | 432.73 | 505.99 | 543.68 | 624.02 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Fastly, Inc.this co. | FSLY | $4.1B | - | 4.30 | -13.1% | -64.33 |
| Remitly Global, Inc. | RELY | $4.6B | 70.61 | 5.31 | 7.8% | 46.80 |
| Commvault Systems, Inc. | CVLT | $4.4B | 64.04 | 581.49 | 23.4% | 37.72 |
| Zeta Global Holdings Corp. | ZETA | $4.4B | - | 5.42 | -3.9% | 52.89 |
| Novanta Inc. | NOVT | $4.3B | 82.24 | 3.28 |
| 4.1% |
| 23.79 |
| Navan, Inc. | NAVN | $4.3B | - | 3.53 | -32.9% | -26.01 |
| nLIGHT, Inc. | LASR | $3.7B | - | 14.66 | -10.3% | -354.68 |
| Webull Corporation | BULL | $3.6B | - | 3.48 | 2.4% | - |
| Navitas Semiconductor Corporation | NVTS | $3.6B | - | 8.04 | -26.4% | -54.68 |
| Peer Median | - | 70.61 | 5.36 | -0.7% | 23.79 | |