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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's latest Threat Insights Report reveals alarming trends in cybersecurity. Key findings include:
1. 91% of cyberattacks targeted multiple organizations using mass scanning techniques, up from 69% in 2023.
2. Bots comprise 36% of global internet traffic.
3. Increased usage of out-of-band domains to exploit WordPress Plugin vulnerabilities.
4. 49% of malicious IP addresses were active for just one day, with an average duration of 3.5 days.
5. High Tech remains the top targeted industry (37%), followed by Media & Entertainment (21%) and Financial Services (17%).
The report emphasizes the importance of adaptive security controls and proactive threat anticipation.
Fastly (NYSE: FSLY) reported Q2 2024 financial results with revenue of $132.4 million, up 8% year-over-year. The company saw 4% sequential growth in Enterprise customer count, reaching 601. However, Fastly faces demand challenges from large customers. Key highlights include:
- Network services revenue: $104.2 million (+6% YoY)
- Security revenue: $25.4 million (+13% YoY)
- GAAP gross margin: 55.1% (vs 52.3% in Q2 2023)
- Non-GAAP gross margin: 58.5% (vs 56.6% in Q2 2023)
- GAAP net loss: $43.7 million
- Non-GAAP net loss: $9.3 million
Fastly's LTM net retention rate decreased to 110% from 114% in Q1 2024. The company provided Q3 2024 guidance with revenue between $130.0 - $134.0 million and full-year 2024 revenue guidance of $530.0 - $540.0 million.
Fastly (NYSE: FSLY), a leader in global edge cloud platforms, will announce its financial results for the second quarter of 2024 after market close on August 7, 2024. An investor conference call will be hosted at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. The webcast will be available on the Fastly investor relations website, and a telephone replay will be accessible until August 21, 2024.
Fastly (NYSE: FSLY) has launched the Fastly AI Accelerator, aimed at improving developer experiences by enhancing performance and reducing costs for large language model (LLM) applications. The AI Accelerator leverages Fastly's Edge Cloud Platform and semantic caching to reduce API calls, particularly for popular AI models like ChatGPT. This innovative tool is targeted at developers using medium and smaller AI models to cut costs and decrease training times. With a simple integration process, the AI Accelerator also offers enhanced security features such as TLS and DDoS mitigation. Fastly's expanded free tier account provides additional resources for developers, making it easier to build and launch new projects.
Fastly (NYSE: FSLY), a leader in global edge cloud platforms, has been named one of the 2024-2025 Best Companies to Work For by U.S. News & World Report. Fastly excelled in categories such as Best Companies To Work For (Overall), IT, Software and Services, and Best Companies To Work For – West. This recognition highlights Fastly's top rankings in quality of pay and benefits, employee experience, and a sense of belonging. Chief People Officer Puja Jaspal emphasized the company's commitment to employee well-being and professional development. The list, compiled by U.S. News, evaluates companies on factors like work-life balance, job stability, and career opportunities, based on data from sources including Glassdoor, Revelio Labs, and QUODD.
Fastly (NYSE: FSLY) has appointed Scott R. Lovett as its new Chief Revenue Officer, effective June 3, 2024. Lovett, with extensive experience in network services and cybersecurity, will lead Fastly's global sales and customer success teams. CEO Todd Nightingale emphasized Lovett's proven track record in driving revenue growth and customer success. Lovett previously served as Chief Revenue Officer at Imperva, where he achieved substantial growth through customer-centric strategies. He has also held leadership roles at Akamai, McAfee, and Cisco. Lovett expressed enthusiasm about leveraging Fastly's technology and customer service to unlock growth opportunities.
Fastly, Inc. (NYSE: FSLY) enhances its Managed Security Service with Bot Management and an industry-leading 30-minute time-to-notify SLA for critical security incidents. The company commits to proactive notification and mitigation, highlighting its dedication to solving cybersecurity challenges.
Fastly Inc. announced its first quarter 2024 financial results, reporting positive operating cash flow of $11.1 million. The company achieved a total revenue of $133.5 million, with network services revenue growing by 12% and security revenue by 16% year-over-year. Fastly also released innovative solutions like Bot Management to enhance security offerings. Despite positive operating performance, the company expressed dissatisfaction with revenue growth outlook and plans to invest in customer acquisition for revenue acceleration.
Fastly, Inc. (NYSE: FSLY) has been named a Gartner® Peer Insights™ Customers’ Choice for Cloud Web Application and API Protection for the sixth consecutive year. Fastly received top ratings in all categories, such as Product Capabilities, Sales Experience, Deployment Experience, and Support Experience. The company also achieved the highest overall rating and 96% willingness to recommend the product. Fastly stood out as the only vendor to receive this recognition for six years running.
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