Fastly (FSLY)
Market Price (9/15/2026): $24.95 | Market Cap: $3.9 BilSector: Information Technology | Industry: Application Software
Fastly (FSLY)
Market Price (9/15/2026): $24.95Market Cap: $3.9 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17% Megatrend and thematic driversMegatrends include Digital Content & Streaming, Cybersecurity, and Artificial Intelligence. Themes include Video Streaming, Show more. | Weak multi-year price returns3Y Excs Rtn is -65% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -82 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% Stock price has recently run up significantly12M Rtn12 month market price return is 222% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.2% High stock price volatilityVol 12M is 122% Key risksFSLY key risks include [1] its history of significant operating losses and an uncertain path to profitability, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, Cybersecurity, and Artificial Intelligence. Themes include Video Streaming, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -65% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -82 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 222% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.2% |
| High stock price volatilityVol 12M is 122% |
| Key risksFSLY key risks include [1] its history of significant operating losses and an uncertain path to profitability, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/14/2026
Fastly (FSLY) stock has gained about 40% since 5/31/2026 because of the following key factors:
1. Fastly reported exceptionally strong financial results for fiscal Q2 2026, which ended June 30, 2026. The company's revenue reached a record $183.3 million, marking a 23% year-over-year increase and surpassing the high end of its guidance and analyst consensus estimates by 5.34%. Furthermore, Fastly delivered an earnings per share (EPS) of $0.15, significantly beating analysts' expectations of $0.03 by 400%. This quarter also saw a record non-GAAP gross margin of 65.8%, an increase of approximately 680 basis points from fiscal Q2 2025. Operating income swung to a positive $27 million, with the operating margin expanding to nearly 15%, a substantial improvement from a negative 3% a year prior.
2. The company provided an optimistic outlook by raising its financial guidance for the remainder of fiscal year 2026 and for fiscal Q3 2026. Following the strong fiscal Q2 2026 performance, Fastly increased its full-year 2026 revenue guidance to a range of $732 million to $746 million, representing approximately 18% growth at the midpoint. Additionally, the revenue guidance for fiscal Q3 2026 was set between $184.0 million and $190.0 million. This upward revision signaled management's confidence in sustained business momentum and execution of its platform strategy.
Show more
Fastly (FSLY) stock has gained about 40% since 5/31/2026 because of the following key factors:
1. Fastly reported exceptionally strong financial results for fiscal Q2 2026, which ended June 30, 2026. The company's revenue reached a record $183.3 million, marking a 23% year-over-year increase and surpassing the high end of its guidance and analyst consensus estimates by 5.34%. Furthermore, Fastly delivered an earnings per share (EPS) of $0.15, significantly beating analysts' expectations of $0.03 by 400%. This quarter also saw a record non-GAAP gross margin of 65.8%, an increase of approximately 680 basis points from fiscal Q2 2025. Operating income swung to a positive $27 million, with the operating margin expanding to nearly 15%, a substantial improvement from a negative 3% a year prior.
2. The company provided an optimistic outlook by raising its financial guidance for the remainder of fiscal year 2026 and for fiscal Q3 2026. Following the strong fiscal Q2 2026 performance, Fastly increased its full-year 2026 revenue guidance to a range of $732 million to $746 million, representing approximately 18% growth at the midpoint. Additionally, the revenue guidance for fiscal Q3 2026 was set between $184.0 million and $190.0 million. This upward revision signaled management's confidence in sustained business momentum and execution of its platform strategy.
Show more
Updated on 9/14/2026
Fastly (FSLY) stock has gained about 40% since 5/31/2026 because of the following key factors:
1. Fastly reported exceptionally strong financial results for fiscal Q2 2026, which ended June 30, 2026. The company's revenue reached a record $183.3 million, marking a 23% year-over-year increase and surpassing the high end of its guidance and analyst consensus estimates by 5.34%. Furthermore, Fastly delivered an earnings per share (EPS) of $0.15, significantly beating analysts' expectations of $0.03 by 400%. This quarter also saw a record non-GAAP gross margin of 65.8%, an increase of approximately 680 basis points from fiscal Q2 2025. Operating income swung to a positive $27 million, with the operating margin expanding to nearly 15%, a substantial improvement from a negative 3% a year prior.
2. The company provided an optimistic outlook by raising its financial guidance for the remainder of fiscal year 2026 and for fiscal Q3 2026. Following the strong fiscal Q2 2026 performance, Fastly increased its full-year 2026 revenue guidance to a range of $732 million to $746 million, representing approximately 18% growth at the midpoint. Additionally, the revenue guidance for fiscal Q3 2026 was set between $184.0 million and $190.0 million. This upward revision signaled management's confidence in sustained business momentum and execution of its platform strategy.
3. Fastly demonstrated accelerating growth in key strategic segments, particularly Security and Compute, including increasing demand from AI-related workloads. In fiscal Q2 2026, security revenue grew 43% year-over-year to $41.7 million, constituting 23% of total revenue. The "Other" revenue segment, primarily comprising compute and observability solutions, experienced even more robust growth, surging 69% year-over-year to $7.7 million. This segment's growth was notably driven by supporting AI-related workloads, with CFO Rich Wong emphasizing that security and compute are increasingly significant drivers of Fastly's growth story beyond traditional content delivery. Machine-generated traffic on Fastly's network also saw a sixfold increase in requests, highlighting the company's emerging role in AI infrastructure.
4. The company showcased improved financial health and key customer retention metrics. Fastly achieved its sixth consecutive quarter of positive free cash flow, reporting $3.6 million in fiscal Q2 2026. Operating cash flow also increased to $39.3 million, up from $25.8 million in fiscal Q2 2025. The company ended fiscal Q2 2026 with a positive net cash balance of $14 million and approximately $337 million in cash, marketable securities, and investments. Furthermore, Fastly's Last Twelve Month (LTM) Net Retention Rate rose to 117% in fiscal Q2 2026, a significant increase from 113% in the prior quarter and 104% a year ago, marking its highest level in over three years.
5. A significant strategic partnership with Comcast boosted market confidence. On September 10, 2026, Fastly announced a partnership with Comcast to develop a next-generation content and application delivery model. This collaboration positions Fastly's edge software directly within Comcast's nationwide network, aiming to provide Xfinity customers with faster and more reliable streaming. This major customer win underscores the strategic value and expanding adoption of Fastly's edge cloud platform.
Show less
Fastly (FSLY) stock has gained about 40% since 5/31/2026 because of the following key factors:
1. Fastly reported exceptionally strong financial results for fiscal Q2 2026, which ended June 30, 2026. The company's revenue reached a record $183.3 million, marking a 23% year-over-year increase and surpassing the high end of its guidance and analyst consensus estimates by 5.34%. Furthermore, Fastly delivered an earnings per share (EPS) of $0.15, significantly beating analysts' expectations of $0.03 by 400%. This quarter also saw a record non-GAAP gross margin of 65.8%, an increase of approximately 680 basis points from fiscal Q2 2025. Operating income swung to a positive $27 million, with the operating margin expanding to nearly 15%, a substantial improvement from a negative 3% a year prior.
2. The company provided an optimistic outlook by raising its financial guidance for the remainder of fiscal year 2026 and for fiscal Q3 2026. Following the strong fiscal Q2 2026 performance, Fastly increased its full-year 2026 revenue guidance to a range of $732 million to $746 million, representing approximately 18% growth at the midpoint. Additionally, the revenue guidance for fiscal Q3 2026 was set between $184.0 million and $190.0 million. This upward revision signaled management's confidence in sustained business momentum and execution of its platform strategy.
3. Fastly demonstrated accelerating growth in key strategic segments, particularly Security and Compute, including increasing demand from AI-related workloads. In fiscal Q2 2026, security revenue grew 43% year-over-year to $41.7 million, constituting 23% of total revenue. The "Other" revenue segment, primarily comprising compute and observability solutions, experienced even more robust growth, surging 69% year-over-year to $7.7 million. This segment's growth was notably driven by supporting AI-related workloads, with CFO Rich Wong emphasizing that security and compute are increasingly significant drivers of Fastly's growth story beyond traditional content delivery. Machine-generated traffic on Fastly's network also saw a sixfold increase in requests, highlighting the company's emerging role in AI infrastructure.
4. The company showcased improved financial health and key customer retention metrics. Fastly achieved its sixth consecutive quarter of positive free cash flow, reporting $3.6 million in fiscal Q2 2026. Operating cash flow also increased to $39.3 million, up from $25.8 million in fiscal Q2 2025. The company ended fiscal Q2 2026 with a positive net cash balance of $14 million and approximately $337 million in cash, marketable securities, and investments. Furthermore, Fastly's Last Twelve Month (LTM) Net Retention Rate rose to 117% in fiscal Q2 2026, a significant increase from 113% in the prior quarter and 104% a year ago, marking its highest level in over three years.
5. A significant strategic partnership with Comcast boosted market confidence. On September 10, 2026, Fastly announced a partnership with Comcast to develop a next-generation content and application delivery model. This collaboration positions Fastly's edge software directly within Comcast's nationwide network, aiming to provide Xfinity customers with faster and more reliable streaming. This major customer win underscores the strategic value and expanding adoption of Fastly's edge cloud platform.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 39.9% change in FSLY stock from 5/31/2026 to 9/14/2026 was primarily driven by a 36.4% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 9142026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.77 | 24.86 | 39.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 653 | 687 | 5.3% |
| P/S Multiple | 4.2 | 5.7 | 36.4% |
| Shares Outstanding (Mil) | 154 | 158 | -2.5% |
| Cumulative Contribution | 39.9% |
Market Drivers
5/31/2026 to 9/14/2026| Return | Correlation | |
|---|---|---|
| FSLY | 39.9% | |
| Market (SPY) | 0.6% | 32.8% |
| Sector (XLK) | -3.5% | 38.3% |
Fundamental Drivers
The 30.0% change in FSLY stock from 2/28/2026 to 9/14/2026 was primarily driven by a 23.8% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9142026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.12 | 24.86 | 30.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 624 | 687 | 10.1% |
| P/S Multiple | 4.6 | 5.7 | 23.8% |
| Shares Outstanding (Mil) | 150 | 158 | -4.6% |
| Cumulative Contribution | 30.0% |
Market Drivers
2/28/2026 to 9/14/2026| Return | Correlation | |
|---|---|---|
| FSLY | 30.0% | |
| Market (SPY) | 11.2% | 24.8% |
| Sector (XLK) | 33.0% | 31.7% |
Fundamental Drivers
The 226.7% change in FSLY stock from 8/31/2025 to 9/14/2026 was primarily driven by a 193.4% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 9142026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.61 | 24.86 | 226.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 571 | 687 | 20.4% |
| P/S Multiple | 1.9 | 5.7 | 193.4% |
| Shares Outstanding (Mil) | 146 | 158 | -7.5% |
| Cumulative Contribution | 226.7% |
Market Drivers
8/31/2025 to 9/14/2026| Return | Correlation | |
|---|---|---|
| FSLY | 226.7% | |
| Market (SPY) | 19.0% | 12.0% |
| Sector (XLK) | 41.0% | 16.9% |
Fundamental Drivers
The 4.5% change in FSLY stock from 8/31/2023 to 9/14/2026 was primarily driven by a 46.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312023 | 9142026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.79 | 24.86 | 4.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 468 | 687 | 46.8% |
| P/S Multiple | 6.5 | 5.7 | -12.2% |
| Shares Outstanding (Mil) | 128 | 158 | -18.9% |
| Cumulative Contribution | 4.5% |
Market Drivers
8/31/2023 to 9/14/2026| Return | Correlation | |
|---|---|---|
| FSLY | 4.5% | |
| Market (SPY) | 74.9% | 27.4% |
| Sector (XLK) | 113.8% | 27.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FSLY Return | -59% | -77% | 117% | -47% | 8% | 128% | -73% |
| Peers Return | 50% | -48% | 61% | 14% | 33% | 24% | 137% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| FSLY Win Rate | 25% | 8% | 67% | 42% | 42% | 67% | |
| Peers Win Rate | 67% | 32% | 65% | 58% | 60% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| FSLY Max Drawdown | -70% | -80% | -41% | -77% | -54% | -52% | |
| Peers Max Drawdown | -24% | -52% | -28% | -29% | -35% | -29% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NET, AKAM, ZS, FFIV, GOOGL. See FSLY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/14/2026 (YTD)
How Low Can It Go
| Event | FSLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.5% | -18.8% |
| % Gain to Breakeven | 57.6% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -20.5% | -7.8% |
| % Gain to Breakeven | 25.7% | 8.5% |
| Time to Breakeven | 39 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -18.4% | -9.5% |
| % Gain to Breakeven | 22.5% | 10.5% |
| Time to Breakeven | 7 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.0% | -33.7% |
| % Gain to Breakeven | 117.4% | 50.9% |
| Time to Breakeven | 52 days | 140 days |
In The Past
Fastly's stock fell -36.5% during the 2025 US Tariff Shock. Such a loss loss requires a 57.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | FSLY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.5% | -18.8% |
| % Gain to Breakeven | 57.6% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -20.5% | -7.8% |
| % Gain to Breakeven | 25.7% | 8.5% |
| Time to Breakeven | 39 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -54.0% | -33.7% |
| % Gain to Breakeven | 117.4% | 50.9% |
| Time to Breakeven | 52 days | 140 days |
In The Past
Fastly's stock fell -36.5% during the 2025 US Tariff Shock. Such a loss loss requires a 57.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Fastly (FSLY)
Fastly, Inc. operates an "edge cloud" platform, a specialized type of Infrastructure as a Service (IaaS) designed to process, serve, and secure its customers' digital applications and content closer to end-users, at the "edge" of the internet. Essentially, Fastly empowers developers to build, secure, and deliver fast, reliable, and scalable web and application experiences globally, enhancing performance and user satisfaction.
The company offers a comprehensive suite of services built on its programmable edge platform. Key offerings include full site delivery, which accelerates website and application performance through dynamic content delivery, caching, and real-time logging. Fastly also provides robust edge security solutions, such as DDoS protection, a cloud Web Application Firewall (WAF), and API protection to safeguard against various online threats. Additional services encompass serverless computing capabilities (Compute@Edge), live streaming solutions, and edge applications like load balancers and image optimizers.
Fastly primarily serves a diverse range of industries that heavily rely on delivering fast, secure, and high-quality digital experiences. Its customer base includes companies in digital publishing, media and entertainment, technology, online retail, travel and hospitality, and financial services. These businesses leverage Fastly's edge cloud platform to enhance their online presence, improve user experience, and ensure the security and reliability of their applications and data.
AI Analysis | Feedback
Here are a few brief analogies to describe Fastly:
- It's like **Cloudflare**, but with a strong emphasis on empowering developers to build custom applications right at the edge of the internet.
- Think of it as **Akamai** for the modern internet, specializing in content delivery, security, and programmable edge computing for developers.
AI Analysis | Feedback
```html
- Edge Cloud Platform: A programmable Infrastructure as a Service (IaaS) platform enabling developers to build, secure, and deliver digital experiences at the edge of the internet.
- Compute@Edge: A serverless compute environment allowing developers to run custom code and logic closer to end-users on Fastly's edge network.
- Full Site Delivery Services: Comprehensive services designed to accelerate and optimize website and application content delivery globally, including dynamic site acceleration, origin shielding, and instant content purging.
- Streaming Solutions: Services optimized for delivering live streaming and video-on-demand content efficiently and reliably to global audiences.
- Edge Security Solutions: A suite of services providing protection against cyber threats, including DDoS protection, Edge Web Application Firewall (WAF), and Transport Layer Security (TLS).
- Unified Web Application & API Protection (WAF & API Protection): Advanced security solutions offering runtime self-application protection, bot mitigation, API and account takeover protection, and a next-generation WAF.
- Edge Applications (Load Balancers & Image Optimizers): Application-level services like load balancing for traffic distribution and image optimization for faster content loading.
- Developer Hub: A resource center providing tools, documentation, solution patterns, and APIs for developers building on the Fastly platform.
- Edge Intelligence & Control Services: Features such as device detection, geolocation, edge dictionaries, and access control lists that empower granular control and customization at the network edge.
AI Analysis | Feedback
Fastly primarily sells its services to other companies. Its major customers include businesses operating in digital publishing, media and entertainment, technology, online retail, travel and hospitality, and financial services industries.
Some of Fastly's major known customers are:
- The New York Times (symbol: NYT)
- Pinterest (symbol: PINS)
- Reddit (symbol: RDDT)
- Vimeo (symbol: VMEO)
- Wayfair (symbol: W)
AI Analysis | Feedback
null
AI Analysis | Feedback
Kip Compton, Chief Executive Officer
Kip Compton joined Fastly in January 2024 as Chief Product Officer and has served as Chief Executive Officer since June 2025. Prior to joining Fastly, Mr. Compton served as the Senior Vice President of Strategy & Business Development of the Cisco Networking business from 2020 to August 2023. He has over 25 years of senior leadership experience driving innovation in cloud, video, Internet of Things (IoT), and networking.
Richard Wong, Chief Financial Officer
Richard Wong has served as Fastly's Chief Financial Officer since August 2025. Previously, Mr. Wong served as Chief Financial Officer of Benchling from November 2020 to May 2024, and as Chief Financial Officer of Houzz Inc. from May 2018 to November 2020. He held senior finance roles at LinkedIn and Yahoo!, and began his career as an investment banker at JPMorgan and Banc of America Securities.
Artur Bergman, Chief Technology Officer and Director
Artur Bergman has served as Fastly's Chief Technology Officer since April 2024. He founded Fastly in March 2011 and served as its Chief Executive Officer until February 2020, and as Chairperson of the Board of Directors from February 2020 to April 2023. From September 2007 to June 2011, Mr. Bergman served as Manager, Vice President, then Chief Technology Officer of Wikia, Inc.
Scott R. Lovett, President, Go to Market
Scott Lovett has served as Fastly's President, Go to Market since August 2025. He previously served as Fastly's Chief Revenue Officer from August 2024 until August 2025. Prior to that, Mr. Lovett served as Chief Revenue Officer at Imperva, Inc. from August 2021 to May 2024, and as Senior Vice President of Global Web & Security Sales at Akamai Technologies, Inc. from April 2018 to April 2021.
Kelly Shortridge, Chief Product Officer
Kelly Shortridge serves as the Chief Product Officer at Fastly.
AI Analysis | Feedback
- The edge cloud and content delivery network (CDN) market in which Fastly operates is intensely competitive, featuring large, established technology companies and other specialized providers. Fastly's ability to maintain and grow its market share depends on its continuous innovation, differentiation of its platform, and effective competition on factors such as performance, security, features, and pricing.
- As a provider of critical infrastructure for processing, serving, and securing customer applications at the edge of the internet, Fastly faces significant risks related to security vulnerabilities and service disruptions. Any breach of its own security, or a widespread or prolonged outage of its platform, could lead to severe reputational damage, loss of customer trust, data loss for customers, and potential financial and legal liabilities.
- Fastly's business model heavily relies on the adoption and continued use of its programmable edge cloud platform by developers and businesses. The company's growth and revenue are dependent on its ability to attract new customers and retain existing ones by providing a platform that meets evolving developer needs and offers a superior experience compared to competing solutions.
AI Analysis | Feedback
The accelerating maturation and bundling of edge computing, content delivery network (CDN), and security services by hyperscale cloud providers (such as Amazon Web Services, Google Cloud Platform, and Microsoft Azure) into their broader cloud ecosystems. As these providers increasingly offer sophisticated, performant, and tightly integrated edge solutions that are seamlessly linked with their core compute, storage, and database offerings, they pose an emerging threat to specialized edge platforms like Fastly. Customers, particularly those already deeply invested in a hyperscaler's ecosystem, may increasingly opt for a single-vendor solution for their entire application stack, potentially reducing the need for a standalone, specialized edge cloud provider and shifting market preference towards consolidated cloud infrastructure.
AI Analysis | Feedback
Fastly, Inc. (FSLY) operates within several significant and growing addressable markets for its main products and services. These include edge computing, content delivery networks (CDN), and various edge security solutions like DDoS protection and web application firewalls (WAF), as well as serverless computing (which includes its Compute@Edge offering).
Here are the estimated market sizes for Fastly's key offerings:
- Edge Computing (Global): The global edge computing market was estimated at approximately USD 23.65 billion in 2024. This market is projected to grow significantly, reaching an estimated USD 327.79 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 33.0% from 2025 to 2033.
- Content Delivery Network (CDN) (Global): The global content delivery network (CDN) market size was valued at USD 23.69 billion in 2024. This market is expected to expand to USD 73.48 billion by 2033, exhibiting a CAGR of 11.98% during the period of 2025-2033.
- DDoS Protection (Global): The global DDoS protection and mitigation security market was valued at USD 4.99 billion in 2024. It is projected to reach USD 13.45 billion by 2032, with a CAGR of 13.20% from 2025 to 2032.
- Web Application Firewall (WAF) (Global): The global web application firewall (WAF) market size was valued at USD 8.60 billion in 2025. This market is projected to grow to USD 30.86 billion by 2034, at a CAGR of 14.90%.
- Serverless Computing (Global) (includes Compute@Edge): The global serverless computing market size was estimated at USD 24.51 billion in 2024. It is projected to reach USD 52.13 billion by 2030, growing at a CAGR of 14.1% from 2025 to 2030.
AI Analysis | Feedback
Fastly (FSLY) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Expansion of Security Solutions: Fastly's comprehensive suite of security offerings, including Web Application Firewall (WAF), bot management, DDoS protection, and API security, is a significant growth driver. The company has broadened its security product portfolio and seen accelerated growth in this segment, with security revenue showing strong year-over-year increases. Analysts and Fastly's own reports indicate that security services are becoming a more substantial portion of its revenue, and new product adoptions are contributing to this growth.
- Growth in Edge Computing and AI Workloads: Fastly is well-positioned to capitalize on the burgeoning edge computing market, especially with the increasing demand for artificial intelligence (AI) workloads that require low-latency processing at the edge of the internet. The company's Compute@Edge platform is a key offering in this area, with new products like the Fastly AI accelerator gaining strong customer interest and driving Remaining Performance Obligations (RPO) growth. This focus on "Edge Intelligence" and supporting agentic AI products is expected to be a transformative opportunity.
- Customer Acquisition and Expansion within Existing Enterprise Customers: Fastly is actively focused on expanding its customer base, particularly its high-value enterprise customers (those generating over $100,000 in annual revenue). The company has demonstrated success in increasing its enterprise customer count and improving its trailing-12-month net retention rate, indicating that existing customers are increasing their spending. Initiatives such as new packaging, channel programs, and a renewed demand generation focus are contributing to a faster pace of customer acquisition. Additionally, opportunities to acquire market share from competitors, such as former Edgio customers, are also contributing to larger customer commitments.
- International Market Expansion: While the United States remains Fastly's primary market, the company has observed significant growth in other regions, with the Asia Pacific market, for example, showing explosive year-over-year revenue growth. Continued expansion and increased penetration in international markets are expected to contribute to overall revenue diversification and growth.
AI Analysis | Feedback
Share Repurchases
- Fastly repurchased approximately $236.4 million aggregate principal amount of its 0% Convertible Senior Notes due 2026 for approximately $195.0 million in cash in May 2023.
- In May 2022, the company repurchased approximately $235.0 million aggregate principal amount of its 0% Convertible Senior Notes due 2026 for about $176.2 million in cash.
- Fastly also repurchased $150.0 million of its 0% convertible senior notes due 2026 for approximately $148.9 million in December 2025, and used $149 million to repurchase these notes in February 2026, as part of debt refinancing efforts.
Share Issuance
- In March 2021, Fastly issued $948.75 million in aggregate principal amount of 0% Convertible Senior Notes due 2026, resulting in net proceeds of approximately $929.10 million.
- The company raised $180 million in gross proceeds from 0% convertible notes due 2030 in December 2025/February 2026, including an overallotment option.
- A US$160.66 million shelf registration for 9,092,235 Class A shares was filed in March 2026, tied to its employee stock ownership plan.
Outbound Investments
- Fastly acquired Domainr, a provider of domain registration services, in August 2023 for an undisclosed amount.
- In May 2022, Fastly acquired Glitch (Software Development Applications) for an undisclosed sum.
- Fastly acquired Fanout in April 2022, with the deal size remaining undisclosed.
Capital Expenditures
- Capital expenditures were $48 million in 2021, $80 million in 2022, and $32 million in 2023.
- Projected capital expenditures are $37 million for 2024 and $46 million for 2025.
- For 2026, Fastly expects infrastructure capital expenditures to be about 10% to 12% of revenue, with a primary focus on maintaining network infrastructure to support traffic volume, especially for AI, and investments in security.
Peer Outperformance in Application Software
FSLY has outperformed 50% of its 121 Application Software peers over 5Y. Among the peers that beat it are AGYS, ACIW and CRM. Application Software ranks 11th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Application Software constituents that FSLY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
100%
of 152 industry peers · 221.6% return
3Y
68%
of 139 industry peers · 21.0% return
5Y
50%
of 121 industry peers · -42.9% return
Application Software peers with revenue growth within 4pp of FSLY's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| FSLY | Fastly | 13.8% | -48.3x | 221.6% | 21.0% | -42.9% | — |
| AGYS | Agilysys | 16.9% | 71.5x | 3.0% | 58.6% | 108.1% | +151pp |
| ACIW | ACI Worldwide | 9.9% | 23.7x | 5.0% | 123.7% | 62.2% | +105pp |
| CRM | Salesforce | 9.9% | 22.0x | 7.8% | 23.0% | 3.0% | +46pp |
| RAMP | LiveRamp | 11.0% | 14.6x | 42.6% | 28.5% | -21.5% | +21pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Application Software is FSLY's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 53.6% | 183.3% | 257.9% | TTMI 740% · FLEX 675% · SANM 393% |
| Semiconductor Materials & Equipment | 27 | 108.7% | 75.6% | 88.1% | AEHR 671% · AXTI 645% · KLAC 383% |
| Technology Distributors | 9 | 31.7% | 68.1% | 87.4% | CLMB 354% · AVT 174% · SNX 135% |
| Communications Equipment | 36 | 13.5% | 80.7% | 67.2% | AAOI 1215% · FEIM 1004% · LITE 865% |
| Electronic Components | 26 | 32.4% | 57.0% | 56.8% | CLS 3529% · BELFA 1239% · COHR 333% |
| Technology Hardware, Storage & Peripherals | 21 | 35.3% | 47.4% | 29.2% | DELL 1062% · STX 1009% · SMCI 908% |
| Semiconductors | 55 | 18.9% | 21.8% | 24.0% | POET 1724% · MU 1184% · NVDA 848% |
| Internet Services & Infrastructure | 6 | 17.0% | 44.7% | 20.0% | DOCN 47% · GDDY 41% · VRSN 36% |
| Electronic Equipment & Instruments | 27 | -15.5% | 8.0% | -9.9% | PI 218% · OSIS 115% · ACFN 97% |
| IT Consulting & Other Services | 28 | -20.3% | -13.1% | -25.7% | CHRN 494900% · APLD 1087% · TSSI 668% |
| Application Software ← | 122 | -24.6% | -12.4% | -43.2% | VIDA 169900% · INLX 5250% · PLTR 540% |
| Systems Software | 67 | -14.6% | 6.0% | -59.7% | QNC 513% · PANW 367% · ZETA 364% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 261.05 |
| Mkt Cap | 27.2 |
| Rev LTM | 3,331 |
| Op Inc LTM | 216 |
| FCF LTM | 705 |
| FCF 3Y Avg | 710 |
| CFO LTM | 1,090 |
| CFO 3Y Avg | 943 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.2% |
| Rev Chg 3Y Avg | 14.6% |
| Rev Chg Q | 23.8% |
| QoQ Delta Rev Chg LTM | 5.4% |
| Op Inc Chg LTM | 6.5% |
| Op Inc Chg 3Y Avg | 18.5% |
| Op Mgn LTM | 4.2% |
| Op Mgn 3Y Avg | 5.1% |
| QoQ Delta Op Mgn LTM | 0.7% |
| CFO/Rev LTM | 32.6% |
| CFO/Rev 3Y Avg | 32.8% |
| FCF/Rev LTM | 13.6% |
| FCF/Rev 3Y Avg | 16.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 27.2 |
| P/S | 8.2 |
| P/Op Inc | -9.7 |
| P/EBIT | -20.7 |
| P/E | -15.5 |
| P/CFO | 25.2 |
| Total Yield | 1.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.3% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.6% |
| 3M Rtn | 18.9% |
| 6M Rtn | 19.6% |
| 12M Rtn | 41.4% |
| 3Y Rtn | 89.8% |
| 1M Excs Rtn | 1.7% |
| 3M Excs Rtn | 16.4% |
| 6M Excs Rtn | 5.3% |
| 12M Excs Rtn | 23.8% |
| 3Y Excs Rtn | 15.8% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $24.86 | |
| Market Cap ($ Bil) | 3.9 | |
| First Trading Date | 05/17/2019 | |
| Distance from 52W High | -25.8% | |
| 50 Days | 200 Days | |
| DMA Price | $22.34 | $18.86 |
| DMA Trend | up | up |
| Distance from DMA | 11.3% | 31.8% |
| 3M | 1YR | |
| Volatility | 84.9% | 121.3% |
| Downside Capture | 113.18 | 162.29 |
| Upside Capture | 268.09 | 271.60 |
| Correlation (SPY) | 31.8% | 12.4% |
FSLY Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.80 | 2.61 | 2.21 | 2.04 | 1.15 | 1.65 |
| Up Beta | 4.66 | 3.44 | 1.45 | 1.10 | 1.60 | 1.42 |
| Down Beta | 15.75 | 2.74 | 2.33 | 0.42 | -1.55 | 1.26 |
| Up Capture | 336% | 326% | 375% | 480% | 664% | 967% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 11 | 24 | 36 | 66 | 121 | 351 |
| Down Capture | 482% | 158% | 178% | 227% | 143% | 112% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 10 | 18 | 27 | 60 | 129 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FSLY | |
|---|---|---|---|---|
| FSLY | 216.5% | 121.6% | 1.46 | - |
| Sector ETF (XLK) | 36.7% | 26.3% | 1.15 | 17.2% |
| Equity (SPY) | 16.8% | 12.8% | 0.93 | 11.9% |
| Gold (GLD) | 17.4% | 29.3% | 0.55 | -0.8% |
| Commodities (DBC) | 49.5% | 20.6% | 1.85 | -4.0% |
| Real Estate (VNQ) | 5.1% | 13.5% | 0.12 | -0.6% |
| Bitcoin (BTCUSD) | -33.3% | 43.9% | -0.80 | 8.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FSLY | |
|---|---|---|---|---|
| FSLY | -12.2% | 88.5% | 0.24 | - |
| Sector ETF (XLK) | 19.1% | 25.9% | 0.66 | 38.6% |
| Equity (SPY) | 12.4% | 17.2% | 0.55 | 39.1% |
| Gold (GLD) | 18.1% | 18.8% | 0.78 | 1.6% |
| Commodities (DBC) | 11.4% | 19.5% | 0.46 | 5.0% |
| Real Estate (VNQ) | 0.6% | 18.9% | -0.07 | 27.5% |
| Bitcoin (BTCUSD) | 9.1% | 52.6% | 0.36 | 22.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with FSLY | |
|---|---|---|---|---|
| FSLY | 0.2% | 89.1% | 0.41 | - |
| Sector ETF (XLK) | 24.1% | 25.0% | 0.88 | 38.0% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 34.9% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 3.5% |
| Commodities (DBC) | 8.8% | 18.1% | 0.40 | 9.1% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 23.6% |
| Bitcoin (BTCUSD) | 63.3% | 66.2% | 1.03 | 18.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -12.9% | 9.6% | -18.9% |
| 5/6/2026 | -38.2% | -42.0% | -42.8% |
| 2/11/2026 | 72.3% | 94.1% | 164.0% |
| 11/5/2025 | 35.9% | 47.5% | 37.8% |
| 8/6/2025 | 14.4% | 11.0% | 14.0% |
| 5/7/2025 | 26.4% | 37.1% | 27.0% |
| 2/12/2025 | -20.9% | -22.4% | -32.0% |
| 11/6/2024 | 0.1% | -10.7% | 33.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 15.7% | 19.4% | 27.0% |
| Median Negative | -19.5% | -22.4% | -32.6% |
| Max Positive | 72.3% | 94.1% | 164.0% |
| Max Negative | -38.2% | -42.0% | -46.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -12.9% | 9.6% | -18.9% |
| 5/6/2026 | -38.2% | -42.0% | -42.8% |
| 2/11/2026 | 72.3% | 94.1% | 164.0% |
| 11/5/2025 | 35.9% | 47.5% | 37.8% |
| 8/6/2025 | 14.4% | 11.0% | 14.0% |
| 5/7/2025 | 26.4% | 37.1% | 27.0% |
| 2/12/2025 | -20.9% | -22.4% | -32.0% |
| 11/6/2024 | 0.1% | -10.7% | 33.6% |
| 8/7/2024 | -14.3% | -12.4% | -17.4% |
| 5/1/2024 | -32.0% | -35.7% | -39.4% |
| 2/14/2024 | -30.6% | -37.8% | -46.5% |
| 11/1/2023 | 15.6% | 19.4% | 26.7% |
| 8/2/2023 | 23.0% | 23.9% | 44.6% |
| 5/3/2023 | -12.4% | -3.7% | 21.9% |
| 2/15/2023 | 15.8% | 6.3% | 11.2% |
| 11/2/2022 | 11.1% | 1.6% | 29.1% |
| 8/3/2022 | -12.3% | -10.4% | -33.6% |
| 5/4/2022 | -18.1% | -40.5% | -26.3% |
| 2/16/2022 | -33.6% | -35.2% | -41.0% |
| 11/3/2021 | 2.0% | -7.9% | -32.6% |
| 8/4/2021 | -10.4% | -5.5% | 6.1% |
| 5/5/2021 | -27.1% | -28.6% | -18.5% |
| 2/17/2021 | -15.4% | -20.1% | -25.9% |
| 10/14/2020 | -27.2% | -35.7% | -38.1% |
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 11 |
| # Negative | 14 | 15 | 13 |
| Median Positive | 15.7% | 19.4% | 27.0% |
| Median Negative | -19.5% | -22.4% | -32.6% |
| Max Positive | 72.3% | 94.1% | 164.0% |
| Max Negative | -38.2% | -42.0% | -46.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/03/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 03/04/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 8/6/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Total Revenue | Reported | 184.00 Mil | 187.00 Mil | 190.00 Mil | ||||
| Q3 2026 Non-GAAP Operating Income | Reported | 20.00 Mil | 22.00 Mil | 24.00 Mil | ||||
| Q3 2026 Non-GAAP Net Income per share | Reported | 0.11 | 0.12 | 0.13 | ||||
| 2026 Total Revenue | Reported | 732.00 Mil | 739.00 Mil | 746.00 Mil | 3.0% | Raised | Guidance: 717.50 Mil for 2026 | |
| 2026 Non-GAAP Operating Income | Reported | 88.00 Mil | 92.00 Mil | 96.00 Mil | 46.0% | Raised | Guidance: 63.00 Mil for 2026 | |
| 2026 Non-GAAP Net Income per share | Reported | 0.5 | 0.52 | 0.54 | 73.3% | Raised | Guidance: 0.3 for 2026 | |
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | Reported | 170.00 Mil | 173.00 Mil | 176.00 Mil | ||||
| Q2 2026 Non-GAAP Operating Income | Reported | 12.00 Mil | 14.00 Mil | 16.00 Mil | ||||
| Q2 2026 Non-GAAP Net Income per share | Reported | 0.05 | 0.07 | 0.08 | ||||
| 2026 Revenue | Reported | 710.00 Mil | 717.50 Mil | 725.00 Mil | 1.1% | Raised | Guidance: 710.00 Mil for 2026 | |
| 2026 Non-GAAP Operating Income | Reported | 58.00 Mil | 63.00 Mil | 68.00 Mil | 14.5% | Raised | Guidance: 55.00 Mil for 2026 | |
| 2026 Non-GAAP Net Income per share | Reported | 0.27 | 0.3 | 0.33 | 15.4% | Raised | Guidance: 0.26 for 2026 | |
Q4 2025 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Total Revenue | Reported | 168.00 Mil | 171.00 Mil | 174.00 Mil | 6.2% | Higher New | Actual: 161.00 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP Operating Income | Reported | 14.00 Mil | 16.00 Mil | 18.00 Mil | 60.0% | Higher New | Actual: 10.00 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP Net Income per share | Reported | 0.07 | 0.09 | 0.1 | 41.7% | Higher New | Actual: 0.06 for Q4 2025 | |
| 2026 Total Revenue | Reported | 700.00 Mil | 710.00 Mil | 720.00 Mil | 16.0% | Higher New | Actual: 612.00 Mil for 2025 | |
| 2026 Non-GAAP Operating Income | Reported | 50.00 Mil | 55.00 Mil | 60.00 Mil | 400.0% | Higher New | Actual: 11.00 Mil for 2025 | |
| 2026 Non-GAAP Net Income per share | Reported | 0.23 | 0.26 | 0.29 | 420.0% | Higher New | Actual: 0.05 for 2025 | |
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | Reported | 159.00 Mil | 161.00 Mil | 163.00 Mil | 6.6% | Higher New | Guidance: 151.00 Mil for Q3 2025 | |
| Q4 2025 Non-GAAP Operating Income | Reported | 8.00 Mil | 10.00 Mil | 12.00 Mil | 900.0% | Higher New | Guidance: 1.00 Mil for Q3 2025 | |
| Q4 2025 Non-GAAP Net Income per share | Reported | 0.04 | 0.06 | 0.08 | Higher New | Guidance: 0 for Q3 2025 | ||
| 2025 Revenue | Reported | 610.00 Mil | 612.00 Mil | 614.00 Mil | 2.3% | Raised | Guidance: 598.00 Mil for 2025 | |
| 2025 Non-GAAP Operating Income | Reported | 9.00 Mil | 11.00 Mil | 13.00 Mil | Raised | Guidance: -6.00 Mil for 2025 | ||
| 2025 Non-GAAP Net Income per share | Reported | 0.03 | 0.05 | 0.07 | Raised | Guidance: -0.07 for 2025 | ||
Insider Activity
Updated 9/11/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bergman, Artur | Chief Technology Officer | See Footnote. | Sell | 9112026 | 22.72 | 8,960 | 203,614 | 37,059,152 | Form |
| 2 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 9102026 | 21.23 | 2,436 | 51,716 | 19,156,699 | Form |
| 3 | Bergman, Artur | Chief Technology Officer | See Footnote. | Sell | 9102026 | 22.51 | 300 | 6,753 | 36,910,660 | Form |
| 4 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9082026 | 20.66 | 17,576 | 363,120 | 39,176,504 | Form |
| 5 | Bergman, Artur | Chief Technology Officer | See Footnote. | Sell | 9082026 | 20.90 | 18,519 | 387,129 | 34,284,183 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bergman, Artur | Chief Technology Officer | See Footnote. | Sell | 9112026 | 22.72 | 8,960 | 203,614 | 37,059,152 | Form |
| 2 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 9102026 | 21.23 | 2,436 | 51,716 | 19,156,699 | Form |
| 3 | Bergman, Artur | Chief Technology Officer | See Footnote. | Sell | 9102026 | 22.51 | 300 | 6,753 | 36,910,660 | Form |
| 4 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9082026 | 20.66 | 17,576 | 363,120 | 39,176,504 | Form |
| 5 | Bergman, Artur | Chief Technology Officer | See Footnote. | Sell | 9082026 | 20.90 | 18,519 | 387,129 | 34,284,183 | Form |
| 6 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 9042026 | 20.42 | 9,458 | 193,132 | 18,475,546 | Form |
| 7 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 9022026 | 21.39 | 55,579 | 1,188,801 | 19,554,933 | Form |
| 8 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9022026 | 23.00 | 6,225 | 143,175 | 44,017,975 | Form |
| 9 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 9022026 | 23.00 | 15,028 | 345,644 | 22,305,722 | Form |
| 10 | Lovett, Scott R | President, Go to Market | Direct | Sell | 9022026 | 23.00 | 19,624 | 451,352 | 31,239,014 | Form |
| 11 | Paisley, Christopher B | See Footnote | Sell | 9022026 | 23.00 | 3,000 | 69,000 | 6,451,155 | Form | |
| 12 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 8312026 | 24.08 | 851 | 20,492 | 46,234,804 | Form |
| 13 | Wong, Richard | CFO | Direct | Sell | 8252026 | 24.09 | 47,676 | 1,148,288 | 25,135,590 | Form |
| 14 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 8202026 | 24.69 | 11,198 | 276,427 | 24,311,195 | Form |
| 15 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 8202026 | 24.72 | 31,687 | 783,341 | 48,787,404 | Form |
| 16 | Lovett, Scott R | President, Go to Market | Direct | Sell | 8202026 | 28.60 | 14,936 | 427,170 | 39,406,281 | Form |
| 17 | Wong, Richard | CFO | Direct | Sell | 8202026 | 28.61 | 148,015 | 4,234,709 | 31,221,692 | Form |
| 18 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 8202026 | 28.60 | 34,552 | 988,187 | 28,486,744 | Form |
| 19 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 8202026 | 28.60 | 32,387 | 926,268 | 57,348,463 | Form |
| 20 | Loop, Paula | Direct | Sell | 8142026 | 30.00 | 7,332 | 219,960 | 2,713,290 | Form | |
| 21 | Daniels, Richard Devon | Direct | Sell | 8112026 | 22.90 | 11,080 | 253,743 | 1,172,462 | Form | |
| 22 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 8062026 | 25.00 | 14,868 | 371,700 | 25,764,800 | Form |
| 23 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 7202026 | 20.89 | 7,073 | 147,763 | 21,840,852 | Form |
| 24 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 7202026 | 20.65 | 11,412 | 235,658 | 21,734,806 | Form |
| 25 | Lovett, Scott R | President, Go to Market | Direct | Sell | 6222026 | 17.77 | 41,716 | 741,293 | 24,749,665 | Form |
| 26 | Lovett, Scott R | President, Go to Market | Direct | Sell | 6182026 | 18.15 | 34,919 | 633,780 | 26,036,066 | Form |
| 27 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 6052026 | 20.79 | 9,313 | 193,617 | 22,119,396 | Form |
| 28 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 6052026 | 20.96 | 7,889 | 165,346 | 42,727,819 | Form |
| 29 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 6022026 | 16.96 | 6,225 | 105,576 | 34,709,098 | Form |
| 30 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 6022026 | 16.96 | 15,028 | 254,875 | 18,202,456 | Form |
| 31 | Paisley, Christopher B | Direct | Sell | 6022026 | 16.96 | 1,000 | 16,960 | 88,650 | Form | |
| 32 | Lovett, Scott R | President, Go to Market | Direct | Sell | 6022026 | 16.96 | 19,622 | 332,789 | 24,921,244 | Form |
| 33 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 5292026 | 17.02 | 1,077 | 18,331 | 34,937,839 | Form |
| 34 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 5292026 | 17.50 | 852 | 14,910 | 35,942,008 | Form |
| 35 | Wong, Richard | CFO | Direct | Sell | 5222026 | 16.48 | 2,500 | 41,200 | 20,423,680 | Form |
| 36 | Wong, Richard | CFO | Direct | Sell | 5202026 | 16.35 | 6,315 | 103,250 | 20,262,571 | Form |
| 37 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 5202026 | 16.48 | 11,275 | 185,812 | 17,934,953 | Form |
| 38 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 5202026 | 16.41 | 31,848 | 522,626 | 33,717,315 | Form |
| 39 | Wong, Richard | CFO | Direct | Sell | 5202026 | 16.85 | 3,592 | 60,525 | 20,988,630 | Form |
| 40 | Lovett, Scott R | President, Go to Market | Direct | Sell | 5202026 | 16.85 | 14,843 | 250,105 | 25,090,240 | Form |
| 41 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 5202026 | 16.85 | 34,334 | 578,528 | 18,527,603 | Form |
| 42 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 5202026 | 16.85 | 32,181 | 542,250 | 35,158,014 | Form |
| 43 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 4202026 | 24.57 | 7,059 | 173,439 | 27,859,648 | Form |
| 44 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 4202026 | 24.33 | 22,474 | 546,874 | 27,763,557 | Form |
| 45 | Lovett, Scott R | President, Go to Market | Direct | Sell | 3192026 | 26.45 | 41,682 | 1,102,485 | 39,777,443 | Form |
| 46 | Lovett, Scott R | President, Go to Market | Direct | Sell | 3192026 | 22.28 | 34,953 | 778,753 | 34,435,077 | Form |
| 47 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 3132026 | 25.00 | 49,350 | 1,233,750 | 29,085,700 | Form |
| 48 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 3112026 | 22.79 | 265,000 | 6,039,350 | 36,575,694 | Form |
| 49 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 3112026 | 21.07 | 40,000 | 842,947 | 39,405,671 | Form |
| 50 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 3092026 | 20.69 | 36,694 | 759,020 | 25,086,455 | Form |
| 51 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 3092026 | 20.69 | 31,079 | 642,915 | 43,828,663 | Form |
| 52 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 3042026 | 20.30 | 5,657 | 114,837 | 40,942,725 | Form |
| 53 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 3042026 | 20.30 | 13,244 | 268,853 | 19,265,451 | Form |
| 54 | Wong, Richard | CFO | Direct | Sell | 3042026 | 20.30 | 3,748 | 76,084 | 23,057,085 | Form |
| 55 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 3042026 | 20.56 | 275,234 | 5,658,646 | 39,266,416 | Form |
| 56 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 3022026 | 17.50 | 869 | 15,208 | 32,229,102 | Form |
| 57 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 2252026 | 17.08 | 40,000 | 683,200 | 37,322,106 | Form |
| 58 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 2232026 | 18.88 | 14,797 | 279,402 | 11,037,096 | Form |
| 59 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 2232026 | 18.89 | 39,881 | 753,225 | 34,799,578 | Form |
| 60 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 2232026 | 20.10 | 34,576 | 694,978 | 44,725,214 | Form |
| 61 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 2202026 | 17.53 | 18,338 | 321,465 | 32,998,700 | Form |
| 62 | Lovett, Scott R | President, Go to Market | Direct | Sell | 2202026 | 17.53 | 6,573 | 115,225 | 17,452,237 | Form |
| 63 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 2202026 | 17.53 | 12,916 | 226,417 | 10,506,009 | Form |
| 64 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 2182026 | 17.53 | 40,000 | 701,264 | 39,616,341 | Form |
| 65 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 2182026 | 18.25 | 20,128 | 367,336 | 34,688,706 | Form |
| 66 | Bergman, Artur | Chief Technology Officer | See Foonote | Sell | 2182026 | 18.42 | 200,847 | 3,700,358 | 42,369,333 | Form |
| 67 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 2172026 | 16.09 | 619,335 | 9,966,546 | 30,911,426 | Form |
| 68 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 2112026 | 8.84 | 20,000 | 176,800 | 22,455,492 | Form |
| 69 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 2042026 | 9.36 | 20,000 | 187,200 | 23,873,419 | Form |
| 70 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 1282026 | 10.40 | 49,320 | 512,928 | 26,734,022 | Form |
| 71 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 1282026 | 9.92 | 30,680 | 304,346 | 25,989,398 | Form |
| 72 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 1212026 | 8.81 | 4,638 | 40,861 | 5,393,764 | Form |
| 73 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 1212026 | 8.18 | 20,000 | 163,600 | 21,681,736 | Form |
| 74 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 1212026 | 9.07 | 9,044 | 82,029 | 5,595,011 | Form |
| 75 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 1142026 | 9.35 | 20,000 | 187,000 | 24,969,914 | Form |
| 76 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12302025 | 10.23 | 40,000 | 409,200 | 27,933,823 | Form |
| 77 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12232025 | 10.59 | 40,000 | 423,600 | 29,340,432 | Form |
| 78 | Lovett, Scott R | President, Go to Market | Direct | Sell | 12182025 | 10.10 | 42,118 | 425,392 | 10,121,584 | Form |
| 79 | Lovett, Scott R | President, Go to Market | Direct | Sell | 12182025 | 10.15 | 34,517 | 350,348 | 10,599,188 | Form |
| 80 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12172025 | 10.50 | 40,000 | 420,000 | 29,511,080 | Form |
| 81 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12102025 | 10.66 | 40,000 | 426,400 | 30,387,172 | Form |
| 82 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12042025 | 12.51 | 3,222 | 40,307 | 36,161,143 | Form |
| 83 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12022025 | 11.51 | 41,080 | 472,766 | 33,303,085 | Form |
| 84 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 12022025 | 11.82 | 849 | 10,035 | 34,690,293 | Form |
| 85 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 12012025 | 11.79 | 14,944 | 176,190 | 7,379,526 | Form |
| 86 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11252025 | 11.43 | 40,000 | 457,200 | 33,555,394 | Form |
| 87 | Lovett, Scott R | President, Go to Market | Direct | Sell | 11202025 | 10.23 | 9,779 | 100,039 | 11,035,838 | Form |
| 88 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11202025 | 10.48 | 62,828 | 658,403 | 31,184,042 | Form |
| 89 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 11202025 | 10.23 | 18,455 | 188,795 | 6,555,977 | Form |
| 90 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11192025 | 10.77 | 40,000 | 430,680 | 32,716,154 | Form |
| 91 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11142025 | 12.51 | 2,718 | 34,002 | 38,512,761 | Form |
| 92 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11122025 | 11.92 | 40,000 | 476,800 | 36,728,810 | Form |
| 93 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11102025 | 10.67 | 220,000 | 2,346,351 | 33,289,130 | Form |
| 94 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 11052025 | 8.21 | 20,000 | 164,200 | 27,431,876 | Form |
| 95 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 10292025 | 8.34 | 20,000 | 166,800 | 28,033,042 | Form |
| 96 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 10222025 | 8.23 | 20,000 | 164,600 | 27,827,901 | Form |
| 97 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 10202025 | 8.41 | 11,378 | 95,689 | 5,544,822 | Form |
| 98 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 10152025 | 8.22 | 20,000 | 164,400 | 27,958,489 | Form |
| 99 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 10082025 | 8.76 | 20,000 | 175,200 | 29,970,378 | Form |
| 100 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 10012025 | 8.53 | 20,000 | 170,600 | 29,354,084 | Form |
| 101 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9242025 | 8.70 | 20,000 | 174,000 | 30,113,101 | Form |
| 102 | Lovett, Scott R | President, Go to Market | Direct | Sell | 9192025 | 8.41 | 42,172 | 354,667 | 9,154,714 | Form |
| 103 | Lovett, Scott R | President, Go to Market | Direct | Sell | 9172025 | 8.63 | 34,462 | 297,407 | 9,758,139 | Form |
| 104 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9172025 | 8.56 | 20,000 | 171,210 | 29,801,505 | Form |
| 105 | Lovett, Scott R | President, Go to Market | Direct | Sell | 9172025 | 8.28 | 178,931 | 1,481,549 | 9,647,732 | Form |
| 106 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9102025 | 7.45 | 20,000 | 149,000 | 26,084,506 | Form |
| 107 | Compton, Charles Lacey Iii | CEO | Direct | Sell | 9052025 | 7.45 | 2,954 | 22,007 | 4,996,648 | Form |
| 108 | Lovett, Scott R | President, Go to Market | Direct | Sell | 9052025 | 7.45 | 619 | 4,612 | 10,013,664 | Form |
| 109 | Bergman, Artur | Chief Technology Officer | Direct | Sell | 9042025 | 7.41 | 58,138 | 430,803 | 26,092,655 | Form |
| 110 | Daniels, Richard Devon | Direct | Sell | 9032025 | 7.61 | 18,248 | 138,867 | 514,832 | Form |
Investor Activity (13F)
Updated Sep 15, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Fastly — Investor Video Playlist
Products & Services
Bedrock Streaming Delivers a Flawless 2026 World Cup to 60 Million Fans with Fastly
Products & Services
How JD Sports Replaces Legacy Infrastructure to Secure Agentic Commerce with Fastly
Products & Services
How OpenAI’s Model Breached Hugging Face
Products & Services
XSS Attacks Explained: Types, Attack Demo & Prevention | Fastly WAF
Products & Services
Introducing the Fastly Agent Toolkit
Products & Services
How Fastly Designs for Failure and Prevents Micro Outages
Investor / Analyst
Fastly Special Event
Leadership
Yamagoya 2023 : Keynote
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Application Software Resources |
| Capterra |
| Software Advice |
| InfoWorld |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 9/14/2026