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• Akamai is like the **UPS or FedEx for internet data**, delivering websites, videos, and online content quickly and reliably across the globe.
• Akamai is like **ADT Security for the internet's major websites and applications**, protecting them from various cyber threats.

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• Content Delivery Network (CDN) Services: Akamai's foundational service optimizes the delivery of web content, applications, and streaming video globally for speed and reliability.
• Cybersecurity Solutions: These services protect websites, applications, and APIs from various threats including DDoS attacks, bot attacks, web application exploits, and provide zero trust network access.
• Cloud Computing Services (Akamai Connected Cloud): This offering provides distributed compute, storage, and networking resources closer to users and devices, facilitating the deployment of performant cloud-native applications at the edge.

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Tom Leighton, Chief Executive Officer, Co-Founder and Director

Tom Leighton co-founded Akamai Technologies in 1998, alongside Daniel Lewin. He served as the company's Chief Scientist for 14 years before becoming Chief Executive Officer in 2013. Prior to Akamai, Dr. Leighton was a Professor of Applied Mathematics at MIT, where his research on algorithms for large-scale networks laid the foundation for Akamai's technology. He holds numerous patents related to content delivery, Internet protocols, algorithms for networks, cryptography, and digital rights management.

Ed McGowan, Executive Vice President, Chief Financial Officer and Treasurer

Ed McGowan joined Akamai in 2000 and was appointed Executive Vice President and Chief Financial Officer in March 2019. He oversees all finance functions globally, including accounting, tax, treasury, investor relations, financial planning and analysis, and business finance activities. His career at Akamai includes roles as Senior Vice President, Finance, and Senior Vice President, Global Media & Carrier Sales. Mr. McGowan played a key role in establishing Akamai's Carrier Products business and led various mergers and acquisitions between 2005 and 2012. Before joining Akamai, he served as Controller for iCast Corporation, a CMGI company, and began his career in public accounting with Arthur Andersen and PwC. He is a Certified Public Accountant.

Adam Karon, Chief Operating Officer and General Manager, Cloud Technology Group

Adam Karon joined Akamai in February 2005 and became Chief Operating Officer and General Manager of the Cloud Technology Group in March 2021. In this role, he is responsible for the strategy and product direction of Akamai's media delivery, web performance, edge computing solutions, and the Intelligent Edge platform. Mr. Karon previously served as Executive Vice President and General Manager of the Media & Carrier Division from March 2017 to February 2021, and as Senior Vice President, Global Services and Support from January 2014 to February 2017. He brings over 25 years of experience in organizational management, business operations, and technical fields.

Mani Sundaram, Executive Vice President and General Manager, Security Technology Group

Mani Sundaram joined Akamai in 2007 as an architect in Professional Services. He is currently the Executive Vice President and General Manager of the Security Technology Group. He was instrumental in developing new services and support paradigms and integrating Akamai's global services teams. Mr. Sundaram also helped establish Akamai as a leading security vendor through the integration of Prolexic security services. Before Akamai, he held various roles in engineering, marketing, and client services at Virtify Inc. and Stratus Technologies.

Robert Blumofe, Executive Vice President and Chief Technology Officer

Robert Blumofe joined Akamai in 1999 and was named Executive Vice President and Chief Technology Officer in February 2021, a re-established role for the company. He is responsible for Akamai's technological advancements, ensuring alignment with business objectives. Dr. Blumofe has significantly contributed to Akamai's platform and enterprise solutions, enhancing network operations and performance assurance. He holds a Ph.D. in Computer Science from MIT.

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The key risks to Akamai Technologies (AKAM) are:

1. Intense Competition: Akamai faces significant competition across its markets, including its legacy Content Delivery Network (CDN) services and its growing security and cloud computing offerings. The CDN market is particularly competitive, with rivals offering comparable services at lower prices and customers opting for do-it-yourself solutions, leading to pricing pressure and a decline in Akamai's CDN revenue.
2. Decline of the CDN (Content Delivery Network) Segment: Akamai's traditional CDN delivery segment has been experiencing a decline, which has offset growth in its security and compute segments. This decline in a historically significant revenue contributor could limit overall revenue growth and profitability, putting pressure on margins despite the company's strategic shift towards security and compute solutions.
3. Cybersecurity Risks: As a leading provider of cybersecurity solutions, Akamai is exposed to inherent risks related to potential security breaches or attacks on its own platforms and infrastructure. Any significant security incident could severely damage the company's reputation, lead to customer attrition, and have financial repercussions. The evolving and increasingly sophisticated nature of cyber threats, including ransomware and other malicious activities, also presents a continuous challenge for Akamai.

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• Hyperscalers' Aggressive Expansion into Edge Computing and Integrated Cloud-to-Edge Solutions

  Major cloud providers like Amazon Web Services (AWS), Google Cloud, and Microsoft Azure are significantly increasing their investments and offerings in edge computing. While these companies have long competed with Akamai in Content Delivery Network (CDN) services, their current push involves comprehensive, integrated platforms that extend their core cloud services directly to the network edge, customer premises, and even industrial sites. Products like AWS Wavelength, AWS Local Zones, Google Distributed Cloud Edge, and Azure Stack Edge provide a unified operational model from the core cloud to the extreme edge. This strategy allows them to leverage existing customer relationships, offer bundled services, and provide a seamless development and deployment experience, potentially eroding Akamai's market share and competitive advantage as a specialized, independent edge platform.

• Telecommunication Companies (Telcos) Leveraging 5G Infrastructure for Native Edge Compute Services

  The global rollout and maturation of 5G networks are enabling telecommunication companies (e.g., Verizon, AT&T, Vodafone) to deploy and offer native edge compute services directly within or adjacent to their 5G radio access networks (RANs). Often done in partnership with hyperscalers, these telco-owned or operated edge platforms are designed to address the ultra-low latency and high-bandwidth requirements of emerging applications such as IoT, industrial automation, and augmented/virtual reality. This creates a new and powerful competitive layer at the network's very edge. Akamai, as an independent edge provider, may face increasing pressure from these highly integrated carrier-grade offerings that can provide direct network proximity and potentially commoditize the underlying edge infrastructure.

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Akamai Technologies (AKAM) operates in several key markets, including Content Delivery Network (CDN) services, Cloud Security, and Edge Computing. The addressable markets for these main product categories are substantial and are primarily global.

Content Delivery Network (CDN) / Delivery Services

• The global Content Delivery Network (CDN) market was valued at approximately USD 25.56 billion in 2024 and is projected to reach USD 132.32 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period.
• Another estimate puts the global CDN market size at USD 26.47 billion in 2025, forecast to reach USD 45.13 billion by 2030 with an 11.26% CAGR.
• North America holds a significant share of this market, accounting for 44.95% in 2024.

Cloud Security / Cybersecurity Solutions

• The global cloud security market size was estimated at USD 35.84 billion in 2024 and is projected to reach USD 75.26 billion by 2030, growing at a CAGR of 13.3% from 2025 to 2030.
• The enterprise cybersecurity market was valued at USD 173.5 billion as of Q4 2023.
• Specific segments within cloud security also represent significant markets:
  • The bot management market size was USD 3.2 billion in 2023.
  • The DDoS protection market size was USD 4.5 billion in 2023.
  • The current Zero Trust Network Access (ZTNA) market size is USD 4.2 billion.
• North America dominated the global cloud security market with a revenue share of over 33.0% in 2024.

Edge Computing / Cloud Computing Services / Cloud Infrastructure Services

• The global edge computing market size reached USD 18.3 billion in 2024 and is expected to reach USD 114.4 billion by 2033, exhibiting a CAGR of 22.40% during 2025-2033.
• Another projection indicates the global edge computing market size at USD 23.65 billion in 2024, with an expected growth to USD 327.79 billion in 2033, at a CAGR of 33.0% from 2025 to 2033.
• North America held the largest revenue share in the global edge computing market, over 38% in 2024.

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Akamai Technologies (AKAM) is strategically positioning itself for future revenue growth over the next 2-3 years by focusing on three primary drivers: the expansion of its security solutions, the acceleration of its cloud computing services (including edge computing), and the integration of artificial intelligence (AI) across its offerings.

1. Growth in Security Solutions: Akamai's security portfolio is a significant revenue driver, with strong demand for its market-leading segmentation and rapidly adopted API Security solutions. These high-growth security products collectively experienced a 35% year-over-year revenue increase as reported in Q3 2025. The company anticipates continued strong performance, with expectations for API security to reach a $100 million run rate, partly driven by the need to secure new AI applications and APIs. Overall, security revenue increased by 10% year-over-year in Q3 2025.
2. Expansion of Cloud Computing Services (Cloud Infrastructure Services & Edge Compute): The Cloud Infrastructure Services (CIS) segment, which includes compute and storage solutions based on the Linode platform, is a key accelerator for Akamai. This segment saw remarkable growth, with revenue climbing 39% year-over-year in Q3 2025. Akamai expects CIS Annual Recurring Revenue (ARR) to grow in the range of 40%-45% in constant currency by year-end. This growth is largely fueled by increasing customer demand for cloud infrastructure services closer to end users, particularly for AI applications and edge computing solutions.
3. Artificial Intelligence (AI) Driven Demand: Artificial intelligence is recognized as a transformative force and a key growth driver across Akamai’s operations and product lines. The company has launched the Akamai Inference Cloud, leveraging NVIDIA AI infrastructure to enhance AI capabilities at the edge, which is expected to drive future growth. AI is increasingly influencing demand for Akamai's cloud infrastructure services, such as AI inferencing, and is also integral to the demand for advanced security solutions like API security for new AI applications.

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Share Repurchases

• Akamai spent $300 million to repurchase 3.9 million shares in the second quarter of 2025.
• For the full year 2024, the company spent $557 million to repurchase 5.6 million shares.
• Akamai announced a share repurchase program in October 2024 to repurchase up to $2 billion worth of its shares, set to expire on June 30, 2027.

Share Issuance

• Shareholders approved an increase of 8 million shares to Akamai's stock incentive plan at the annual meeting on May 14, 2025.
• In Q2 2025, Akamai filed a US$598.08 million shelf registration related to its employee stock ownership plan.

Outbound Investments

• Akamai acquired Noname Security for $450 million in May 2024 to enhance its API security platform.
• In February 2022, Akamai acquired Linode, an Infrastructure as a Service (IaaS) provider, for $900 million to expand its cloud platform.
• Akamai completed the acquisition of Guardicore for approximately $600 million in September 2021, integrating its micro-segmentation products into Akamai's Zero Trust solutions.

Capital Expenditures

• Akamai's trailing twelve-month capital expenditures (as of current time) were $925.734 million.
• For the third quarter of 2025, capital expenditures were $224 million, representing 21% of revenue.
• Expected capital expenditures for Q4 2025 are approximately $171 million to $181 million, focusing on the organic development of its distributed computing network and edge computing infrastructure.