Welcome to our dedicated page for Fastly news (Ticker: FSLY), a resource for investors and traders seeking the latest updates and insights on Fastly stock.
Fastly, Inc. (symbol: FSLY) is a leading provider of edge cloud computing services that help some of the world's most renowned digital businesses keep up with evolving customer expectations. Founded in 2011, Fastly’s core business revolves around delivering fast, secure, and scalable online experiences. By leveraging its advanced edge cloud platform, businesses can accelerate technical innovation, mitigate evolving cyber threats, and dynamically scale their operations as needed.
Fastly powers a wide range of prominent online destinations including Airbnb, GitHub, Alaska Airlines, Pinterest, Vimeo, The Guardian, The New York Times, and Ticketmaster. Fastly’s platform stands out by focusing on fewer but network-dense data centers compared to traditional Content Delivery Networks (CDNs). This strategy allows it to efficiently handle dynamic content and edge computing capabilities, providing superior service to large, sophisticated enterprises.
Headquartered in San Francisco with a global working community spread across cities like Denver, New York, London, and Tokyo, Fastly has raised $130 million from notable investors such as August Capital, Iconiq Capital, Battery Ventures, OATV, and Amplify Partners. The company is committed to providing challenging work environments, continuous learning opportunities, and a collaborative atmosphere. Fastly’s approach has made it a trusted partner for enterprises aiming to accelerate their pace of innovation while ensuring reliable, high-performing online services.
For more information about Fastly’s innovative solutions and latest updates, visit fastly.com or follow them on Twitter at @fastly.
Fastly (NYSE: FSLY) announced the general availability of Fastly AI Accelerator, a semantic caching solution designed to enhance performance and reduce costs for Large Language Model (LLM) generative AI applications. The solution delivers 9x faster response times and now supports both OpenAI ChatGPT and Microsoft Azure AI Foundry.
The implementation requires developers to simply update their application to a new API endpoint, typically changing just one line of code. The solution leverages Fastly Edge Cloud Platform to cache responses for repeated queries, eliminating the need to make individual calls to AI providers.
Fastly (NYSE: FSLY) announced the issuance of $150.0 million in 7.75% convertible senior notes due 2028. The company will use these proceeds to repurchase approximately $157.9 million of its existing 0.00% Convertible Senior Notes due 2026. The new notes will mature on June 1, 2028, with interest payable semi-annually at 7.75%. The initial conversion rate is 50.6586 shares per $1,000 principal amount, equivalent to a conversion price of $19.74 per share. After the transactions, expected to settle around December 5, 2024, the outstanding amount of existing notes will be $188.6 million.
Fastly's Global Security Research Report reveals concerning trends in cybersecurity recovery times. In 2024, businesses are taking an average of 7.3 months to recover from cyber incidents, 25% longer than the expected 5.9 months. Companies reducing cybersecurity spending faced 70% more incidents and longer recovery times of 10.9 months. While 87% of businesses plan to increase security investments, 50% still feel unprepared for future attacks. The report also highlights that 40% of businesses are concerned about their security stack's reliability, with 29% considering vendor changes. Organizations are shifting towards a platform engineering approach, with these teams now being held responsible for 8% of cybersecurity incidents.
Fastly (NYSE: FSLY) has been named a Leader in the IDC MarketScape: Worldwide Edge Delivery Services 2024 Vendor Assessment for the second time. The company's strengths include its well-rounded portfolio, fast performance, and WASM implementation. The global edge computing market is projected to reach $228 billion in 2024, a 14% increase from 2023, with expected growth to $378 billion by 2028. Fastly's global network has expanded to over 375 Tbps of connected capacity. The company was recognized for its support of high-level languages, VCL control, collaborative environment, and focus on observability.
Fastly (NYSE: FSLY) announced its Q3 2024 financial results, reporting a GAAP loss of $38.0 million but achieving a record non-GAAP income of $2.4 million and an adjusted EBITDA of $13.3 million. Total revenue grew by 7% YoY to $137.2 million, driven by a 20% increase in revenue outside the top ten customers. GAAP gross margin improved to 54.5%, while non-GAAP gross margin rose to 57.7%. Despite a GAAP net loss per share of $0.27, non-GAAP net income per share was $0.02. The company saw a decline in enterprise customer count but an increase in total customer count. Fastly's top ten customers accounted for 33% of revenue, down from 40% a year ago. The company also provided Q4 and full-year 2024 guidance, expecting revenue between $136.0 million and $140.0 million for Q4 and between $539.0 million and $543.0 million for the full year.
Fastly (NYSE: FSLY), a global edge cloud platforms leader, has announced its participation in two upcoming investor conferences. At the 2024 RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference in New York City on November 19th at 10:40 a.m. ET, CFO Ron Kisling and VP Investor Relations Vernon Essi, Jr. will participate in a fireside chat. Additionally, CEO Todd Nightingale and CFO Ron Kisling will present at the UBS Global Technology and AI Conference in Scottsdale, AZ on December 4th at 10:15 a.m. ET. Both presentations will be accessible via webcasts on Fastly's Investor Relations website.
Fastly, Inc. (NYSE: FSLY) has announced the general availability of Fastly DDoS Protection, a solution designed to automatically shield applications and APIs from Layer 7 and other application-level DDoS attacks. This new offering leverages Fastly's proven techniques in protecting its global network to provide customers with tailored protection.
Key features of Fastly DDoS Protection include:
- One-click activation for immediate defense
- Automatic detection and mitigation without manual intervention
- Powered by Fastly's 353 gbps global network
- Utilizes proprietary Attribute Unmasking techniques
- No attack fees - customers only pay for legitimate traffic
- Helps reduce cloud spend by stopping attacks before reaching backend services
The solution aims to enhance resilience, maintain revenue generation, and minimize the brand impact of outages across various industries, including e-commerce and financial services.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, has announced it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company will host an investor conference call to discuss the results at 1:30 p.m. PT / 4:30 p.m. ET on the same day.
Investors can access the live webcast of the call at https://investors.fastly.com under the "Quarterly Results" section. For those who prefer to dial in, the numbers are 888-330-2022 (US/CA) or 646-960-0690 (International), with Conference ID #7543239. Participants are advised to dial in at least 10 minutes before the start time.
A telephone replay of the conference call will be available from approximately 5:00 p.m. PT on November 6 through November 20, 2024, by dialing 800-770-2030 or 609-800-9909 and entering the passcode 7543239.
Dexory, a leading robotics and data intelligence company, has secured an $80 million Series B funding round, led by DTCP with participation from Latitude Ventures, Wave-X, Bootstrap Europe, and existing investors. This brings Dexory's total funding to $120 million over the past three years.
The funding will support:
- Expansion of AI-powered features across the DexoryView platform
- Growth of the global team
- Accelerated deployment of autonomous robots
- US market expansion
- Enhancement of UK development and production facilities
Dexory's DexoryView platform provides real-time visibility across warehouses through autonomous mobile robots and AI, addressing the logistics market's need for maximized operating efficiencies. The company has demonstrated significant growth since its commercial launch 18 months ago, with customers including GXO, Maersk, and DB Schenker.
Fastly (NYSE: FSLY) has unveiled its latest survey, “Bot Wars: How Bad Bots are Hurting Businesses,” highlighting the surge and financial impact of malicious bots on organizations. The survey shows that 59% of IT professionals reported an increase in bot attacks over the past year, with significant incidents costing companies an average of $2.9 million. A substantial 76% of respondents faced at least one bot attack, with 43% experiencing multiple attacks. Common threats included malware distribution (49%), web scrapers and click fraud bots (both at 44%), and DDoS and spam bots (both at 41%).
Additionally, 73% of technical staff noted a rise in attacks, compared to only 53% of senior management. Concerns centered on data breaches (48%), financial loss (41%), and business disruption (39%). Furthermore, 47% of respondents felt their organizations could do more to prepare for bot attacks. AI is also perceived as a risk, with 45% believing it will increase attack frequency, and 27% stating it will intensify attack severity.
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