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Akamai Technologies Inc. (NASDAQ: AKAM), based in Cambridge, Mass., operates one of the world's largest and most recognized cloud platforms. The company’s core services include content delivery network (CDN), cloud security, and edge computing solutions. Akamai's extensive infrastructure includes over 325,000 servers distributed across more than 1,000 cities globally, ensuring that content is delivered with superior speed, security, and reliability.
One of Akamai's standout offerings is the Akamai Intelligent Platform™, which enables businesses to securely deliver high-performing user experiences on any device, anywhere. This platform is integral to the company's mission to remove technological complexities, allowing clients to focus on business acceleration and embracing modern trends like cloud, mobile, and media, while also mitigating the challenges posed by security threats.
Akamai's services are used extensively in e-commerce, media, and technological sectors. The company recently announced a partnership with Neural Magic to deploy high-powered AI software across its infrastructure, enhancing deep learning capabilities on cost-effective CPU-based servers. This partnership exemplifies Akamai’s commitment to cutting-edge innovation and enhancing its cloud computing and security offerings.
Adding to its diverse portfolio, Akamai has launched the Shield NS53 to protect DNS infrastructure against resource exhaustion attacks, complementing their existing DDoS protection and DNS solutions. Furthermore, Akamai's API Security product has achieved the latest PCI DSS compliance, highlighting its robust security measures for handling sensitive data.
Additionally, Akamai's acquisition of Noname Security is set to bolster its API protection capabilities, addressing the growing demand for API security solutions. The company has also demonstrated significant financial growth, with a notable increase in security and compute revenue, and continues to expand its market presence through strategic acquisitions and partnerships.
For the latest corporate updates, follow Akamai on social platforms like X (formerly Twitter) and LinkedIn, or visit their website at akamai.com.
Akamai Technologies (NASDAQ: AKAM) announced on March 2, 2023, a definitive agreement to acquire Ondat, a leading cloud-based storage technology provider. Ondat specializes in Kubernetes-native platforms, enhancing Akamai's ability to run stateful applications seamlessly across diverse cloud environments. This acquisition aims to strengthen Akamai's cloud computing offerings and integrate advanced storage capabilities into its Akamai Connected Cloud platform, which serves over 4,100 locations globally. The transaction is expected to close in Q1 2023 with no significant impact on Akamai's financial guidance for the year.
Akamai Technologies (NASDAQ: AKAM) reported its fourth quarter and full-year financial results for 2022. The fourth quarter revenue reached $928 million, up 2% YoY, with security and compute revenue growing 18% YoY. GAAP EPS for Q4 was $0.82, down 15% YoY. For the full year, revenue totaled $3.617 billion, a 4% increase YoY, while GAAP EPS was $3.26, down 17%. The company emphasized robust demand for its security solutions, although GAAP operating income saw a 14% decrease. Cash from operations was $341 million in Q4, representing 37% of revenue, with a total of $1.275 billion for the year.
Akamai Technologies (NASDAQ: AKAM) announced the launch of Akamai Connected Cloud, a comprehensive edge and cloud platform aimed at enhancing cloud computing, security, and content delivery. This initiative includes the introduction of three new enterprise-scale core cloud sites within the U.S. and Europe, expected to launch by the end of Q2 2023. Additionally, Akamai plans to roll out over 50 distributed sites to improve cloud access in underserved areas. A new pricing model aims to reduce cloud egress costs.
The company is also emphasizing compliance with new security standards, enhancing customer trust and service interoperability.
Akamai Technologies and FS-ISAC have released a report highlighting a significant rise in DDoS attacks aimed at the financial sector. In 2022, there was a 22% increase in DDoS attacks against financial firms, with Europe seeing an alarming 73% surge. The report underscores that DDoS attacks are increasingly used as a political tool, particularly in the context of global conflicts like the Russia-Ukraine war. Important findings include the emergence of extortion tactics within DDoS campaigns and their potential to serve as a cover for more serious cyberattacks. The report emphasizes the need for financial institutions to update their cybersecurity strategies in light of these evolving threats.
Akamai Technologies (NASDAQ: AKAM) announced a conference call for investors on February 14, 2023, at 4:30 p.m. ET to discuss its fourth quarter and full-year 2022 financial results. The call will feature forward-looking financial guidance and will be streamed live on Akamai's Investor Relations page. Dial-in options include a U.S. number at (833) 634-5020 and international access at (412) 902-4238. A replay will be available for two weeks post-call.
Akamai Technologies has been recognized in the 2022 Dow Jones Sustainability Indices and FTSE4Good Index, continuing its presence since 2013. The company improved its total scores by seven points over the prior year, especially in the Environmental Dimension (+15 points) and Climate Strategy (+10 points). This inclusion signifies strong environmental, social, and governance (ESG) practices, with Akamai committing to 100% renewable energy for global operations by 2030. The recognition highlights Akamai's dedication to sustainable business practices and its efforts in STEM education and community support.
Akamai Technologies published its latest State of the Internet report, revealing that 80% of cyberattackers target customers of financial services, rather than financial institutions themselves. The report highlights a 257% increase in web application and API attacks year over year, alongside a 22% rise in DDoS attacks. Key findings indicate that new zero-day exploits against financial services see rapid exploitation, with phishing techniques evolving to bypass two-factor authentication. Regionally, attacks surged by 449% in Asia-Pacific and 419% in Latin America.
Akamai announced a strategic equity investment in Macrometa, enhancing their partnership with the integration of services to create a powerful edge cloud platform. This collaboration will allow enterprise developers to deploy applications seamlessly across edge and cloud infrastructures, leveraging Akamai's extensive network of 4,200 points of presence globally. Andy Champagne, CTO of Akamai Labs, will join Macrometa's board as a non-voting observer. This investment aims to simplify application development, promising faster time to market and improved operational efficiencies for developers.
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