Fastly, Inc. FSLY
Organizations around the world are more dependent on the quality of digital experiences they provide than ever before. As the internet approaches an inflection point where automated, artificial intelligence ("AI")-driven traffic increases demands on infrastructure, Fastly is the essential platform to deliver resilient, highly performant, always-on software and services at global scale.
The edge cloud is a category of Infrastructure as a Service ("IaaS") that enables software engineers to build, secure, and deliver digital experiences at the edge of the Internet. Our platform represents the convergence of the Content Delivery Network ("CDN") with functionality that has traditionally been delivered by hardware-centric appliances such as Application Delivery Controllers ("ADC"), Web Application Firewalls ("WAF"), API Management, Bot Detection, Distributed Denial of Service ("DDoS"), Web Application and API Protection ("WAAP"), and infrastructure protection.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $624.0M | $543.7M | $506.0M | $432.7M | $354.3M | $290.9M | $200.5M | $144.6M | $104.9M | — |
| Cost of revenue | $267.8M | $247.7M | $239.7M | $222.9M | $167.0M | $120.0M | $88.3M | $65.5M | $48.7M | — |
| Gross profit | $356.2M | $295.9M | $266.3M | $209.8M | $187.3M | $170.9M | $112.1M | $79.1M | $56.2M | — |
| R&D | $162.7M | $138.0M | $152.2M | $155.3M | $126.9M | $74.8M | $46.5M | $34.6M | $29.0M | — |
| SG&A | $110.7M | $113.4M | $116.1M | $120.8M | $126.8M | $102.1M | $41.1M | $23.4M | $17.5M | — |
| Total operating expenses | $475.2M | $463.9M | $464.4M | $456.0M | $406.3M | $278.1M | $158.7M | $108.2M | $87.3M | — |
| Operating income | -$119.0M | -$167.9M | -$198.0M | -$246.2M | -$219.0M | -$107.2M | -$46.5M | -$29.1M | -$31.0M | — |
| Interest expense | $12.7M | $2.7M | $4.1M | $5.9M | $5.2M | $1.5M | $5.2M | $1.8M | $1.1M | — |
| Pre-tax income | -$119.2M | -$155.5M | -$133.3M | -$190.7M | -$222.6M | -$107.4M | -$51.1M | -$30.8M | -$32.2M | — |
| Income tax | $2.5M | $2.6M | $221.0K | $94.0K | $69.0K | $11.5M | $492.0K | $185.0K | $208.0K | — |
| Net income | -$121.7M | -$158.1M | -$133.1M | -$190.8M | -$222.7M | -$95.9M | -$51.5M | -$30.9M | -$32.5M | — |
| EPS, basic | -0.83 | -1.14 | -1.03 | -1.57 | -1.92 | -0.93 | -0.75 | — | — | — |
| EPS, diluted | -0.83 | -1.14 | -1.03 | -1.57 | -1.92 | -0.93 | -0.75 | -1.27 | -1.39 | — |
| Shares, diluted (wtd. avg.) | $146.9M | $138.1M | $128.8M | $121.7M | $116.1M | $103.6M | $68.3M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $180.6M | $286.2M | $107.9M | $143.5M | $167.0M | $63.9M | $86.2M | $37.0M | $31.4M | $17.7M |
| Short-term investments | $181.2M | $9.7M | $214.8M | $374.6M | $361.8M | $131.3M | $115.0M | $46.7M | — | — |
| Receivables | $118.0M | $116.0M | $120.5M | $89.6M | $64.6M | $50.3M | $37.1M | $24.7M | — | — |
| Total current assets | $506.7M | $440.2M | $463.7M | $636.5M | $624.6M | $261.3M | $249.3M | $117.3M | — | — |
| Property, plant and equipment | — | — | — | — | $167.0M | $96.0M | $60.0M | $42.4M | — | — |
| Goodwill | $670.4M | $670.4M | $670.4M | $670.2M | $636.8M | $635.2M | $372.0K | $360.0K | $382.0K | — |
| Other intangibles | $25.8M | $42.9M | $62.5M | $82.9M | $102.6M | $121.7M | $1.1M | $610.0K | — | — |
| Total assets | $1.50B | $1.45B | $1.53B | $1.90B | $2.16B | $1.22B | $321.0M | $162.8M | — | — |
| Accounts payable | $17.6M | $6.0M | $5.6M | $4.8M | $9.3M | $9.2M | $4.6M | $2.3M | — | — |
| Short-term debt | $38.6M | $0 | — | — | $0 | — | — | — | — | — |
| Total current liabilities | $194.0M | $104.5M | $147.7M | $152.3M | $131.9M | $94.1M | $37.1M | $31.8M | — | — |
| Long-term debt | $323.3M | $337.6M | $343.5M | $704.7M | $933.2M | $0 | $20.1M | — | — | — |
| Total liabilities | $569.9M | $486.1M | $545.7M | $941.0M | $1.15B | $158.1M | $63.3M | $75.1M | — | — |
| Retained earnings | -$1.11B | -$992.8M | -$834.8M | -$701.7M | -$510.9M | -$288.2M | -$192.0M | -$146.2M | — | — |
| Total equity | $929.6M | $965.2M | $979.5M | $955.2M | $1.01B | $1.06B | $257.7M | -$131.9M | -$107.0M | -$78.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $94.4M | $16.4M | $362.0K | -$69.6M | -$38.5M | -$19.9M | -$31.3M | -$17.0M | -$25.9M | — |
| Depreciation and amortisation | $61.0M | $54.0M | $51.6M | $42.6M | $28.8M | $19.8M | $16.6M | $13.4M | $9.6M | — |
| Stock-based compensation | $117.3M | $107.9M | $136.3M | $145.8M | $140.5M | $64.4M | $12.1M | $4.1M | $2.8M | — |
| Capital expenditure | $28.7M | $10.3M | $11.0M | $20.0M | $34.8M | $29.6M | $14.6M | $16.7M | $12.1M | — |
| Investing cash flow | -$213.0M | $178.9M | $294.9M | $235.8M | -$794.5M | -$275.0M | -$87.7M | -$47.1M | -$15.8M | — |
| Financing cash flow | $12.8M | -$17.1M | -$331.4M | -$189.1M | $936.6M | $272.7M | $168.1M | $69.6M | $55.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016095.
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