Fastly Stock Price, News & Analysis

Fastly, a leading provider of edge cloud services, announced its participation in the 16th Annual Needham Virtual Technology & Media Conference. CEO Joshua Bixby and CFO Adriel Lares will present on May 17, 2021, at 11:15 a.m. PT / 2:15 p.m. ET. Interested parties can access the live webcast on Fastly's Investor Relations website. Fastly's edge cloud platform supports quick, secure, and reliable digital experiences by serving applications close to end-users, boasting a client list that includes well-known names like Pinterest and The New York Times.

Fastly (NYSE: FSLY) announced that Chief Financial Officer Adriel Lares will resign after five years, with a transition period to assist in finding a successor. Lares has been credited for his contributions during a significant growth phase, including the successful IPO. The company emphasized its strong growth potential and plans to search externally for a new CFO. Additionally, Fastly disclosed that they will discuss their first quarter 2021 financial results in an upcoming conference call.

Fastly, Inc. (NYSE: FSLY) reported a strong first quarter of 2021, achieving nearly $85 million in revenue, reflecting a 35% year-over-year growth. CEO Joshua Bixby emphasized that permanent trends observed during the pandemic provide confidence in the company’s edge cloud mission. Fastly remains committed to investing in its platform to drive future growth. A live Q&A session regarding financial results and outlook will be held on May 5, 2021, at 2:00 p.m. PT.

Fastly (NYSE: FSLY) has introduced Nearline Cache, a new storage solution aimed at businesses with extensive content libraries, such as media and gaming companies. This innovative product, built on Fastly's Compute@Edge platform, promises reduced costs by allowing long-tail content storage closer to users without incurring egress costs. Nearline Cache enhances operational efficiency and development speeds, leveraging Fastly's high-performance network to deliver applications globally in seconds. It also features automated content population to minimize latency, improving user experience.

Fastly (NYSE: FSLY) has committed to enhancing the WebAssembly ecosystem, believing it will improve website performance and security. The company has joined the W3C and is contributing to the Bytecode Alliance, focusing on creating a secure software environment. This initiative aims to address vulnerabilities in current software supply chains that threaten data integrity. Fastly’s WebAssembly team is enhancing technologies like Cranelift and Wasmtime, which are integral for secure coding at the edge, revealing Fastly's dedication to industry collaboration and next-generation software development.

Fastly, Inc. (NYSE: FSLY) plans to release its financial results for Q1 2021 after market close on May 5, 2021. The company will notify shareholders upon the posting of its quarterly letter on its Investor Relations website. Additionally, Fastly will hold a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day, accessible via phone or a live webcast.

Fastly's edge cloud platform enhances digital experiences, supporting companies like Pinterest and The New York Times.

Fastly (NYSE: FSLY) has partnered with Okta to enhance security for organizations by integrating Fastly’s Signal Sciences with Okta’s identity solutions. This integration provides better protection against Layer 7 threats, including account takeover and API misuse. The partnership enables automated risk assessments through Okta's Risk Ecosystem API, improving detection and response against security threats while preserving user experience. Key benefits include a unified risk assessment for users, automated blocking of attacks, and reduced costs associated with fraud.

Fastly, Inc. (NYSE: FSLY) has been recognized as a March 2021 Gartner Peer Insights Customers' Choice for Web Application Firewalls (WAF), marking the third consecutive year of high ratings. The Next-Gen WAF solution, acquired through Signal Sciences, received an impressive average of 4.9 out of 5.0 stars based on 66 reviews. Users praised the product's effectiveness in safeguarding web applications, emphasizing its ease of deployment and strong support. This acknowledgment reflects Fastly's dedication to innovation in security technology, catering to organizations' diverse needs against a variety of threats.

Fastly, Inc. (NYSE: FSLY) has announced the issuance of an additional $123.75 million in 0% Convertible Senior Notes due 2026, bringing the total offering to $948.75 million with net proceeds of approximately $929.10 million. The notes, which are general unsecured obligations, will mature on March 15, 2026, and will not bear regular interest. Proceeds will be used for working capital and potential acquisitions. The initial conversion rate is 9.7272 shares per $1,000 principal amount, with a conversion price of about $102.80 per share, representing a 45% premium over the last stock price.