Fastly (FSLY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FSLY SEC filings page.
Fastly (FSLY) reported $687.2M in revenue over the twelve months to Jun 30, 2026, up 20.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue growth is increasingly reaching cash flow, while operating losses persist and the short-term balance-sheet cushion narrows through heavier current obligations.
By FY2025, gross margin reached57.1% and operating margin improved to-19.1% from a much deeper earlier deficit; the pairing points to improving delivery economics and cost absorption, not merely top-line expansion. That improvement finally appeared in cash: FY2025 operating cash flow was$94.4M and free cash flow was$65.8M , versus negative figures in FY2021, showing that accounting losses no longer translated into equivalent cash consumption.
Margin expansion continued alongside product investment: R&D reached
Debt-to-equity remained about 0.3x in FY2025, so the capital structure was not being reshaped by rising long-term leverage. Yet current liabilities reached
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Fastly's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Fastly has an operating margin of -19.1%, meaning the company loses $19 on every $100 of revenue. This results in a profitability score of 25/100. This is up from -30.9% the prior year.
Fastly's revenue grew 14.8% year-over-year to $624.0M, a solid pace of expansion. This earns a growth score of 67/100.
Fastly carries a low D/E ratio of 0.35, meaning only $0.35 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.61, Fastly holds $2.61 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 73/100.
Fastly has a free cash flow margin of 10.5%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Fastly posts a -13.1% return on equity (ROE), meaning it loses $13 for every $100 of shareholders' equity. This results in a returns score of 37/100. This is up from -16.4% the prior year.
Fastly scores 3.17, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.6B) relative to total liabilities ($569.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Fastly passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Fastly reported a net loss of $121.7M while generating $94.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Fastly reported an operating loss of $119.0M against $12.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Fastly generated $183.3M in revenue in Q2 2026. This represents an increase of 23.3% from the same quarter a year earlier. Against the prior quarter it is up 6.0%.
Fastly's EBITDA was $567K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 104.0% from the same quarter a year earlier. Against the prior quarter it is up 105.8%.
Fastly reported -$15.6M in net income in Q2 2026. This represents an increase of 58.5% from the same quarter a year earlier. Against the prior quarter it is up 24.0%.
Fastly earned -$0.10 per diluted share (EPS) in Q2 2026. This represents an increase of 61.5% from the same quarter a year earlier. Against the prior quarter it is up 23.1%.
Cash & Balance Sheet
Fastly generated $7.7M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 51.6% from the same quarter a year earlier. Against the prior quarter it is down 1.7%.
Fastly held $89.8M in cash against $324.0M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Fastly's gross margin was 63.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 8.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.
Fastly's operating margin was -7.9% in Q2 2026, reflecting core business profitability. This is up 17.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.9 percentage points.
Fastly's net profit margin was -8.5% in Q2 2026, showing the share of revenue converted to profit. This is up 16.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.4 percentage points.
Fastly's ROE was -1.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
Capital Allocation
Fastly invested $42.1M in research and development in Q2 2026. This represents a decrease of 0.4% from the same quarter a year earlier. Against the prior quarter it is up 0.2%.
Fastly invested $31.6M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 221.0% from the same quarter a year earlier. Against the prior quarter it is up 50.4%.
Not reported for Q2 2026.
FSLY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $183.3M+23.3% | $173.0M+19.8% | $172.6M+22.8% | $158.2M+15.3% | $148.7M+12.3% | $144.5M+8.2% | $140.6M+2.0% | $137.2M+7.3% |
| Cost of Revenue | $67.4M-0.3% | $64.8M-4.2% | $66.7M+1.7% | $65.9M+5.5% | $67.6M+13.7% | $67.7M+12.3% | $65.5M+5.7% | $62.5M+1.2% |
| Gross Profit | $116.0M+42.9% | $108.2M+40.9% | $106.0M+41.2% | $92.3M+23.5% | $81.1M+11.3% | $76.8M+4.9% | $75.1M-0.9% | $74.7M+13.1% |
| R&D Expenses | $42.1M-0.4% | $42.0M+12.1% | $41.6M+27.0% | $41.4M+29.9% | $42.2M+20.3% | $37.4M-2.1% | $32.7M-14.4% | $31.9M-18.4% |
| SG&A Expenses | $31.6M+29.8% | $35.0M+23.9% | $28.4M+8.7% | $29.7M+9.3% | $24.3M-14.5% | $28.2M-10.8% | $26.2M-16.8% | $27.2M-9.4% |
| Operating Income | -$14.4M+60.9% | -$23.9M+37.4% | -$15.1M+56.0% | -$28.8M+29.1% | -$36.9M+21.0% | -$38.2M+17.5% | -$34.3M+19.4% | -$40.6M+30.4% |
| EBITDA | $567K+104.0% | -$9.7M+35.5% | $5.0M+139.8% | -$5.4M+70.9% | -$14.1M+43.9% | -$15.1M+38.4% | -$12.5M+38.9% | -$18.7M+48.8% |
| Interest Expense | $3.3M+3.1% | $3.3M+6.5% | $3.1M+236.6% | $3.2M+700.0% | $3.2M+700.0% | $3.1M+435.4% | $921K+23.8% | $400K-53.6% |
| Income Tax | $252K-54.8% | -$4.1M-697.7% | $681K-40.3% | $559K+22.9% | $557K-15.7% | $691K+99.1% | $1.1M+345.4% | $455K+45600.0% |
| Net Income | -$15.6M+58.5% | -$20.5M+47.6% | -$15.5M+52.8% | -$29.5M+22.4% | -$37.5M+14.2% | -$39.1M+9.9% | -$32.9M-40.7% | -$38.0M+30.0% |
| EPS (Basic) | -$0.10+61.5% | -$0.13+51.9% | -$0.10+56.5% | -$0.20+25.9% | -$0.26+18.8% | -$0.27+15.6% | -$0.23-35.3% | -$0.27+35.7% |
| EPS (Diluted) | -$0.10+61.5% | -$0.13+51.9% | -$0.10+56.5% | -$0.20+25.9% | -$0.26+18.8% | -$0.27+15.6% | -$0.23-35.3% | -$0.27+35.7% |
| Diluted Shares (Avg) | 158M+8.1% | 154M+7.2% | N/A | 148M+6.4% | 146M+6.1% | 143M+6.5% | N/A | 139M+7.2% |
FSLY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B+2.8% | $1.5B+4.4% | $1.5B+3.3% | $1.5B-0.1% | $1.5B-1.3% | $1.4B-3.8% | $1.5B-4.8% | $1.5B-10.3% |
| Current Assets | $479.0M+3.1% | $490.1M+8.3% | $506.7M+15.1% | $479.8M+5.9% | $464.7M+3.0% | $452.6M-1.7% | $440.2M-5.1% | $453.1M-17.8% |
| Cash & Equivalents | $89.8M+8.9% | $146.7M+16.9% | $180.6M-36.9% | $113.1M-48.0% | $82.5M-44.0% | $125.5M-16.8% | $286.2M+165.2% | $217.5M-19.5% |
| Short-Term Investments | $247.7M+3.8% | $183.8M+1.1% | $181.2M+1766.7% | $229.8M+153.2% | $238.7M+45.1% | $181.8M+1.8% | $9.7M-95.5% | $90.7M-42.6% |
| Accounts Receivable | $114.2M-2.6% | $130.0M+9.2% | $118.0M+1.8% | $109.2M-6.5% | $117.3M+3.0% | $119.0M+10.7% | $116.0M-3.7% | $116.8M+18.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0-100.0% |
| Goodwill | $670.4M0.0% | $670.4M0.0% | $670.4M0.0% | $670.4M0.0% | $670.4M0.0% | $670.4M0.0% | $670.4M0.0% | $670.4M0.0% |
| Total Liabilities | $512.8M-1.5% | $536.4M+9.0% | $569.9M+17.2% | $533.6M+6.2% | $520.5M+3.8% | $492.2M-4.3% | $486.1M-10.9% | $502.3M-25.3% |
| Current Liabilities | $142.5M-54.4% | $163.4M-45.7% | $194.0M+85.7% | $328.9M+188.0% | $312.8M+186.2% | $300.9M+150.3% | $104.5M-29.3% | $114.2M-20.3% |
| Non-Current Liabilities | $370.3M+78.3% | $372.9M+94.9% | $375.9M-1.5% | $204.7M-47.2% | $207.7M-47.0% | $191.3M-51.4% | $381.7M-4.1% | $388.1M-26.6% |
| Long-Term Debt | $324.0M+116.1% | $323.6M+115.9% | $323.3M-4.2% | $149.9M-56.5% | $149.9M-56.5% | $149.9M-56.4% | $337.6M-1.7% | $344.5M-27.1% |
| Total Equity | $990.8M+5.1% | $977.1M+2.1% | $929.6M-3.7% | $937.0M-3.4% | $942.6M-3.9% | $957.0M-3.5% | $965.3M-1.5% | $969.5M+0.1% |
| Retained Earnings | -$1.2B-7.6% | -$1.1B-10.0% | -$1.1B-12.3% | -$1.1B-14.5% | -$1.1B-16.0% | -$1.0B-17.5% | -$992.8M-18.9% | -$959.9M-18.3% |
Not reported in any period shown, so not listed: Inventory.
FSLY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $39.3M+52.5% | $28.9M+67.0% | $22.4M+329.8% | $28.9M+478.2% | $25.8M+621.4% | $17.3M+55.3% | $5.2M+170.8% | $5.0M+159.6% |
| Depreciation & Amortization | $15.0M-34.4% | $14.2M-38.7% | $20.1M-7.6% | $23.4M+6.7% | $22.9M+5.7% | $23.1M+6.1% | $21.8M-1.4% | $21.9M+0.2% |
| Stock-Based Compensation | $35.2M+33.6% | $35.0M+36.7% | N/A | $33.1M+32.4% | $26.3M+0.7% | $25.6M-19.6% | N/A | $25.0M-30.0% |
| Capital Expenditures | $31.6M+221.0% | $21.0M+706.9% | $10.2M+105.1% | $6.0M+202.9% | $9.9M+459.1% | $2.6M+62.5% | $5.0M+84.5% | $2.0M+514.2% |
| Free Cash Flow | $7.7M-51.6% | $7.8M-46.6% | $12.2M+4777.7% | $22.9M+661.1% | $15.9M+337.6% | $14.7M+54.1% | $251K+102.5% | $3.0M+134.5% |
| Investing Cash Flow | -$98.7M-41.1% | -$27.0M+84.9% | $36.2M-49.0% | -$344K-100.5% | -$70.0M-975.4% | -$178.9M-631.1% | $70.9M+290.4% | $66.3M+763.8% |
| Financing Cash Flow | $2.5M+153.5% | -$35.8M-4420.4% | $8.9M+221.0% | $2.1M+289.1% | $982K+114.5% | $828K+144.0% | -$7.3M+93.8% | -$1.1M+58.7% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
FSLY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.2%+8.7pp | 62.5%+9.4pp | 61.4%+8.0pp | 58.4%+3.9pp | 54.5%-0.5pp | 53.2%-1.7pp | 53.4%-1.6pp | 54.5%+2.8pp |
| Operating Margin | -7.9%+17.0pp | -13.8%+12.6pp | -8.7%+15.7pp | -18.2%+11.4pp | -24.8%+10.5pp | -26.4%+8.2pp | -24.4%+6.5pp | -29.6%+16.1pp |
| Net Margin | -8.5%+16.7pp | -11.9%+15.2pp | -9.0%+14.4pp | -18.6%+9.1pp | -25.2%+7.8pp | -27.1%+5.4pp | -23.4%-6.4pp | -27.7%+14.8pp |
| Return on Equity | -1.6%+2.4pp | -2.1%+2.0pp | -1.7%+1.7pp | -3.1%+0.8pp | -4.0%+0.5pp | -4.1%+0.3pp | -3.4%-1.0pp | -3.9%+1.7pp |
| Return on Assets | -1.0%+1.5pp | -1.4%+1.3pp | -1.0%+1.2pp | -2.0%+0.6pp | -2.6%+0.4pp | -2.7%+0.2pp | -2.3%-0.7pp | -2.6%+0.7pp |
| Current Ratio | 3.36+1.9x | 3.00+1.5x | 2.61-1.6x | 1.46-2.5x | 1.49-2.6x | 1.50-2.3x | 4.21+1.1x | 3.97+0.1x |
| Debt-to-Equity | 0.33+0.2x | 0.33+0.2x | 0.350.0x | 0.16-0.2x | 0.16-0.2x | 0.16-0.2x | 0.350.0x | 0.36-0.1x |
| Asset Turnover | 0.120.0x | 0.110.0x | 0.120.0x | 0.110.0x | 0.100.0x | 0.100.0x | 0.100.0x | 0.090.0x |
| FCF Margin | 4.2%-6.5pp | 4.5%-5.6pp | 7.1%+6.9pp | 14.5%+12.3pp | 10.7%+15.8pp | 10.2%+3.0pp | 0.2%+7.5pp | 2.2%+9.0pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Fastly FSLY | FY2025 | $624.0M | -$121.7M | -19.5% | $3.6B | 53/100 |
| Blend Labs Inc BLND | FY2025 | $123.6M | -$6.8M | -5.5% | $335.8M | 64/100 |
| Yalla Group Ltd YALA | FY2025 | $341.9M | $148.1M | 43.3% | $827.5M | 83/100 |
| Amplitude Inc AMPL | FY2025 | $343.2M | -$88.5M | -25.8% | $1.5B | 37/100 |
| Vimeo VMEO | FY2024 | $417.0M | $27.0M | 6.5% | $1.3B | 42/100 |
| Semrush Hldgs Inc SEMR | FY2025 | $443.6M | -$19.0M | -4.3% | $1.8B | 54/100 |
Where Fastly Ranks
Frequently Asked Questions
What is Fastly's annual revenue?
Fastly (FSLY) reported $624.0M in total revenue for fiscal year 2025. This represents a 14.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fastly's revenue growing?
Fastly (FSLY) revenue grew by 14.8% year-over-year, from $543.7M to $624.0M in fiscal year 2025.
Is Fastly profitable?
No, Fastly (FSLY) reported a net income of -$121.7M in fiscal year 2025, with a net profit margin of -19.5%.
What is Fastly's EBITDA?
Fastly (FSLY) had EBITDA of -$29.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Fastly have?
As of fiscal year 2025, Fastly (FSLY) had $180.6M in cash and equivalents against $323.3M in long-term debt.
What is Fastly's gross margin?
Fastly (FSLY) had a gross margin of 57.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Fastly's operating margin?
Fastly (FSLY) had an operating margin of -19.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Fastly's net profit margin?
Fastly (FSLY) had a net profit margin of -19.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Fastly's return on equity (ROE)?
Fastly (FSLY) has a return on equity of -13.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fastly's free cash flow?
Fastly (FSLY) generated $65.8M in free cash flow during fiscal year 2025. This represents a 982.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fastly's operating cash flow?
Fastly (FSLY) generated $94.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Fastly's total assets?
Fastly (FSLY) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Fastly's capital expenditures?
Fastly (FSLY) invested $28.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Fastly spend on research and development?
Fastly (FSLY) invested $162.7M in research and development during fiscal year 2025.
What is Fastly's current ratio?
Fastly (FSLY) had a current ratio of 2.61 as of fiscal year 2025, which is generally considered healthy.
What is Fastly's debt-to-equity ratio?
Fastly (FSLY) had a debt-to-equity ratio of 0.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fastly's return on assets (ROA)?
Fastly (FSLY) had a return on assets of -8.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fastly's P/E ratio?
Fastly (FSLY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $3.6B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fastly's price-to-sales ratio?
Fastly (FSLY) trades at 5.3x sales, its market capitalization divided by revenue of $687.2M revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.6B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fastly's Altman Z-Score?
Fastly (FSLY) has an Altman Z-Score of 3.17, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Fastly's Piotroski F-Score?
Fastly (FSLY) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Fastly's earnings high quality?
Fastly (FSLY) reported a net loss of $121.7M while generating $94.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Fastly cover its interest payments?
Fastly (FSLY) reported an operating loss of $119.0M against $12.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Fastly?
Fastly (FSLY) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.