Fastly Stock Price, News & Analysis

Fastly, Inc. (NYSE: FSLY) reported a record quarterly revenue of $108.5 million for Q3 2022, surpassing guidance with 25% annual growth. The GAAP gross margin decreased to 48.6% from 52.4% year-over-year. The company experienced a net loss of $63.4 million, translating to a loss per share of $0.52. Key metrics included a net retention rate increase to 118% and average enterprise customer spend rising 4% to $759K. Fastly anticipates Q4 revenue between $112-$116 million, maintaining a focus on expanding its cross-selling strategy.

Fastly (NYSE: FSLY) is set to release its third quarter 2022 financial results on November 2, 2022, after market close. An investor conference call will follow at 1:30 p.m. PT to discuss these results. Investors can access the live webcast at Fastly's investor page. Fastly's edge cloud platform is well-regarded for enhancing online performance, security, and innovation.

Fastly, Inc. (NYSE: FSLY) has been recognized as a Challenger in the 2022 Gartner Magic Quadrant for WAAP. This designation, along with being named Customers’ Choice for Web Application and API Protection for four consecutive years, highlights Fastly's commitment to providing robust security without compromising speed. The Next-Gen WAF enhances detection capabilities, allowing over 90% of customers to operate confidently in full blocking mode.

Fastly has appointed Todd Nightingale as its new CEO, effective September 1, 2022. Nightingale, previously with Cisco, will also join Fastly’s Board of Directors. He succeeds Joshua Bixby, who will remain as an advisor. The board believes Nightingale's extensive technology and business strategy experience will enhance Fastly's go-to-market strategy and drive growth. With a track record in transforming infrastructures, he aims to leverage Fastly's edge cloud capabilities to deliver exceptional application experiences.

Fastly, Inc. (NYSE: FSLY) reported record quarterly revenue of $102.5 million for Q2 2022, a 21% year-over-year increase, exceeding guidance. The company repurchased $235 million of convertible debt at a 25% discount, reducing its total debt to $703.4 million. Despite a GAAP operating loss of $69 million, the trailing 12-month Net Retention Rate improved to 117%. Fastly has increased its full-year revenue guidance to $415-$425 million. New CEO Todd Nightingale will take over on September 1, 2022, succeeding Joshua Bixby.

Fastly (NYSE: FSLY) has announced a new reseller partnership with HUMAN Security, aiming to enhance bot detection and remediation for online applications. This collaboration will provide customers with robust protection against automated attacks, which account for three out of four online attacks today. Fastly's Next-Gen WAF, recognized for its flexibility and integration capabilities, will work alongside HUMAN's advanced security measures to safeguard users and assets while increasing ROI and minimizing cybersecurity risks.

Fastly has partnered with the Mercedes-AMG PETRONAS Formula One Team as an official global sponsor, emphasizing their shared commitment to speed and innovation. This collaboration will enhance digital performance for fans and marks an exciting period for Formula 1, which is experiencing significant growth with a cumulative TV audience of 1.55 billion. The partnership begins at the end of July 2022 and focuses on utilizing Fastly's advanced technology to improve the online fan experience.

Fastly, Inc. (NYSE: FSLY) has appointed Vaughan Woods as Area Vice President for ASEAN, aiming to strengthen its market presence in the region. Based in Singapore, Woods will lead the company's growth strategy and expansion efforts. Fastly's commitment to international growth includes investments across Asia Pacific, targeting countries like Australia, Japan, and South Korea. The company focuses on enhancing digital and cybersecurity capabilities for its customers, emphasizing the growing demand for edge computing solutions.

Fastly, Inc. (NYSE: FSLY) will announce its second quarter 2022 financial results on August 3, 2022, after market close. An investor conference call will follow at 2:00 p.m. PT / 5:00 p.m. ET. The call will provide insights into the company’s performance and future outlook. Investors and analysts can access the live webcast and dial-in details through the company’s investor relations page.

Fastly delivers modern content and application solutions to major clients like Pinterest and The New York Times, focusing on improving internet experiences.