Fastly, Inc.
- Open
- 22.60
- Day high
- 22.69
- Day low
- 21.66
- Prev close
- 22.79
- Volume
- 336K
- Mkt cap
- $3.5B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 3.5
- P/S
- 5.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$11.8M over the last 3 months (0 open-market buys, 29 sales)
- 🏛Institutions accumulating (13F)
Fastly, Inc. (FSLY) is a Technology company listed on NASDAQ. The stock is up 208% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 29 sales (SEC Form 4).
Fastly, Inc. (FSLY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FSLY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $0.07 | $0.15 | +127.5% | $183M | +5.4% |
| May 6, 2026 | $0.08 | $0.13 | +62.5% | $173M | +0.7% |
| Feb 11, 2026 | $0.06 | $0.12 | +100.0% | $173M | +8.1% |
| Nov 5, 2025 | $0.06 | $0.07 | +22.0% | $158M | -1.9% |
| May 7, 2025 | $-0.06 | $-0.05 | +16.7% | $144M | +4.4% |
| Feb 12, 2025 | $0.01 | $-0.03 | -400.0% | $141M | +1.4% |
| May 1, 2024 | $-0.07 | $-0.05 | +28.6% | $134M | +0.1% |
| Feb 14, 2024 | $0.00 | $0.01 | +150.0% | $138M | -1.3% |
| Nov 1, 2023 | $-0.07 | $-0.06 | +14.3% | $128M | +0.8% |
| Aug 2, 2023 | $-0.10 | $-0.04 | +60.0% | $123M | +3.1% |
| May 3, 2023 | $-0.10 | $-0.09 | +10.0% | $118M | +0.9% |
| Feb 15, 2023 | $-0.12 | $-0.08 | +33.3% | $119M | +3.6% |
FSLY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 31, 2026 | Bergman Arturdirector, officer: Chief Technology Officer | Sell | 851 | $24.08 |
| Aug 25, 2026 | WONG RICHARDofficer: CFO | Sell | 16,855 | $23.64 |
| Aug 25, 2026 | WONG RICHARDofficer: CFO | Sell | 29,013 | $24.29 |
| Aug 25, 2026 | WONG RICHARDofficer: CFO | Sell | 1,808 | $24.95 |
| Aug 20, 2026 | Bergman Arturdirector, officer: Chief Technology Officer | Sell | 4,164 | $25.78 |
| Aug 20, 2026 | Bergman Arturdirector, officer: Chief Technology Officer | Sell | 16,435 | $24.98 |
| Aug 20, 2026 | Bergman Arturdirector, officer: Chief Technology Officer | Sell | 11,088 | $23.94 |
| Aug 20, 2026 | Lovett Scott R.officer: President, Go to Market | Sell | 14,936 | $28.60 |
| Aug 20, 2026 | Compton Charles Lacey IIIdirector, officer: CEO | Sell | 34,552 | $28.60 |
| Aug 20, 2026 | Compton Charles Lacey IIIdirector, officer: CEO | Sell | 5,098 | $24.08 |
| Aug 20, 2026 | Compton Charles Lacey IIIdirector, officer: CEO | Sell | 5,400 | $25.08 |
| Aug 20, 2026 | Bergman Arturdirector, officer: Chief Technology Officer | Sell | 32,387 | $28.60 |
| Aug 20, 2026 | Compton Charles Lacey IIIdirector, officer: CEO | Sell | 700 | $26.05 |
| Aug 20, 2026 | WONG RICHARDofficer: CFO | Sell | 148,015 | $28.61 |
| Aug 14, 2026 | Loop Pauladirector | Sell | 7,332 | $30.00 |
Source: FSLY SEC Form 4 filings, latest Aug 31, 2026. For informational purposes only — not investment advice.
See the full FSLY insider & 13F page →Fastly, Inc. company profile
Overview
Fastly, Inc. (NYSE:FSLY) is a cloud computing company founded in 2011 and headquartered in San Francisco, California. Originally incorporated as SkyCache, Inc., the company rebranded to Fastly in May 2012 and went public in May 2019. Fastly operates an edge cloud platform that helps developers build, secure, and deliver digital experiences at the edge of the internet, serving customers across digital publishing, media and entertainment, technology, online retail, travel and hospitality, and financial services industries globally.
Business
Fastly operates in the edge cloud computing sector, which is a specialized category of Infrastructure as a Service (IaaS) that brings computing resources closer to end users. The company's core offering is an edge cloud platform that processes, serves, and secures customer applications at network edge locations worldwide, rather than from centralized data centers. The edge cloud concept addresses a fundamental challenge in modern internet infrastructure: latency. When users access websites or applications, data traditionally travels from their device to distant data centers and back. By positioning computing resources at "edge" locations closer to users, Fastly reduces this round-trip time, improving performance and user experience. Fastly's business operates through three main revenue segments: 1. Network Services (approximately 78% of revenue): This includes content delivery network (CDN) services, full site delivery, streaming solutions, and media shield services. The CDN caches and delivers web content from edge locations, while streaming services handle live video delivery and video-on-demand content. 2. Security Services (approximately 19% of revenue): These include DDoS protection, Web Application Firewall (WAF), bot mitigation, edge authentication, and API protection services. These security tools protect applications from cyber threats at the network edge. 3. Other Products/Emerging Services (approximately 3% of revenue): Primarily Compute@Edge services, which allow developers to run custom code at edge locations, plus newer offerings like AI acceleration and object storage. The platform is programmable, meaning developers can write custom logic that executes at edge locations using Fastly's Compute@Edge product, enabling more sophisticated applications than traditional CDNs allow.
Revenue model
Fastly generates revenue primarily through usage-based pricing for its platform services. Customers pay based on the amount of data transferred (bandwidth), number of requests processed, and additional services consumed. This creates a direct correlation between customer growth and Fastly's revenue. The company's customers are primarily enterprise businesses and digital-native companies that require high-performance web delivery and security services. These include media companies, e-commerce platforms, software-as-a-service providers, gaming companies, and financial services firms. Fastly had 601 enterprise customers as of Q1 2025, with its top 10 customers representing approximately 32% of total revenue. Revenue growth drivers include expanding existing customer usage, cross-selling additional products (security, compute), acquiring new enterprise customers, and geographic expansion. The company has been actively working to reduce its dependence on large media customers by diversifying across industries and customer sizes. Several factors influence Fastly's margins and profitability. Positive factors include economies of scale in network infrastructure, successful cross-selling of higher-margin security products, improved pricing optimization, and operational efficiency gains. Negative factors include intense price competition in the CDN market, high infrastructure costs for global network expansion, customer concentration risks (large customers can negotiate lower prices), and the need for continuous R&D investment to maintain technological competitiveness. The company has also faced margin pressure from large media customers focusing on cost optimization, though management expects pricing declines to stabilize.
Competitive moat
Fastly's competitive moat is moderate but strengthening. The company's primary advantages stem from its programmable edge platform and developer-focused approach, which differentiate it from traditional CDN providers. Unlike legacy CDNs that primarily cache static content, Fastly's platform allows developers to run custom code at edge locations, enabling more sophisticated applications and use cases. The company benefits from network effects through its global infrastructure of edge locations and peering relationships with internet service providers. Building and maintaining this infrastructure requires significant capital investment and technical expertise, creating barriers to entry. Additionally, Fastly's focus on developer experience and modern APIs has created customer loyalty in the developer community. However, Fastly faces significant competitive threats. Hyperscale cloud providers like Amazon CloudFront, Google Cloud CDN, and Microsoft Azure CDN have deeper resources and can bundle edge services with other cloud offerings. Established CDN providers like Cloudflare have larger scale and more comprehensive security offerings. Cloudflare, in particular, poses a strong competitive threat with its integrated security-first approach and aggressive pricing. The company's moat is being strengthened through its expanding security product portfolio and compute capabilities, which create higher switching costs and more comprehensive platform value. However, the commoditization risk in basic CDN services remains significant, requiring Fastly to continue innovating in higher-value areas like edge computing and AI acceleration to maintain differentiation.
Risks & safety
Fastly presents a moderate margin of safety with improving but still concerning financial metrics. • Liquidity and Solvency: Strong cash position of $125.5 million and current ratio of 1.50, though down from previous quarters. Positive free cash flow of $9.9 million in Q1 2025 represents improvement. Debt-to-equity ratio of 0.42 is manageable. • Valuation Metrics: Trading at negative P/E due to losses, but price-to-book ratio of 0.95 suggests potential undervaluation. EV/EBITDA is negative due to negative EBITDA, limiting traditional valuation analysis. • Operational Concerns: Company remains unprofitable with -$39.1 million net income in Q1 2025, though targeting operating profit in H2 2025. Revenue growth has slowed to 8% year-over-year. High customer concentration risk with top 10 customers representing 32% of revenue. • Other Considerations: Positive momentum in cross-selling and product diversification, management's focus on operational efficiency, and potential market share gains from competitor disruption (Edgio shutdown) provide some upside catalysts.
Recent development
Over the past few years, Fastly has undergone significant strategic transformation focused on revenue diversification and platform expansion. The company has systematically reduced its dependence on large media customers, with top 10 customer concentration declining from 40% to 32% of revenue through aggressive new customer acquisition and cross-selling initiatives. The company has substantially expanded its security portfolio, launching DDoS protection, advanced bot mitigation, AI-powered bot detection, and enhanced Web Application Firewall capabilities. This security focus addresses a higher-margin, faster-growing market segment and creates more comprehensive platform value for customers. Compute@Edge has emerged as a key growth driver, with the "Other Products" segment (primarily compute) growing 64% year-over-year in Q1 2025. The company has also introduced AI acceleration capabilities, including semantic caching and AI Accelerator products, positioning itself for the growing demand for edge AI workloads. Fastly has implemented a major go-to-market transformation under new Chief Revenue Officer Scott Lovett, introducing new packaging models, dedicated sales teams for new logo acquisition, enhanced channel partner programs, and improved sales compensation structures. The company has also expanded geographically into Latin America, India, and APAC markets. Operationally, Fastly has focused on financial discipline, reducing cash burn from $59 million to $36 million annually and targeting operating profitability in the second half of 2025. The company has also benefited from market disruption, gaining over 10 new customers from competitor Edgio's shutdown.
FSLY company profile · for informational purposes only — not investment advice.
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