Fastly Stock Price, News & Analysis

Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, has announced it will release its third quarter 2024 financial results after market close on Wednesday, November 6, 2024. The company will host an investor conference call to discuss the results at 1:30 p.m. PT / 4:30 p.m. ET on the same day.

Investors can access the live webcast of the call at https://investors.fastly.com under the "Quarterly Results" section. For those who prefer to dial in, the numbers are 888-330-2022 (US/CA) or 646-960-0690 (International), with Conference ID #7543239. Participants are advised to dial in at least 10 minutes before the start time.

A telephone replay of the conference call will be available from approximately 5:00 p.m. PT on November 6 through November 20, 2024, by dialing 800-770-2030 or 609-800-9909 and entering the passcode 7543239.

Dexory, a leading robotics and data intelligence company, has secured an $80 million Series B funding round, led by DTCP with participation from Latitude Ventures, Wave-X, Bootstrap Europe, and existing investors. This brings Dexory's total funding to $120 million over the past three years.

The funding will support:

• Expansion of AI-powered features across the DexoryView platform
• Growth of the global team
• Accelerated deployment of autonomous robots
• US market expansion
• Enhancement of UK development and production facilities

Dexory's DexoryView platform provides real-time visibility across warehouses through autonomous mobile robots and AI, addressing the logistics market's need for maximized operating efficiencies. The company has demonstrated significant growth since its commercial launch 18 months ago, with customers including GXO, Maersk, and DB Schenker.

Fastly (NYSE: FSLY) has unveiled its latest survey, “Bot Wars: How Bad Bots are Hurting Businesses,” highlighting the surge and financial impact of malicious bots on organizations. The survey shows that 59% of IT professionals reported an increase in bot attacks over the past year, with significant incidents costing companies an average of $2.9 million. A substantial 76% of respondents faced at least one bot attack, with 43% experiencing multiple attacks. Common threats included malware distribution (49%), web scrapers and click fraud bots (both at 44%), and DDoS and spam bots (both at 41%).

Additionally, 73% of technical staff noted a rise in attacks, compared to only 53% of senior management. Concerns centered on data breaches (48%), financial loss (41%), and business disruption (39%). Furthermore, 47% of respondents felt their organizations could do more to prepare for bot attacks. AI is also perceived as a risk, with 45% believing it will increase attack frequency, and 27% stating it will intensify attack severity.

Fastly's latest Threat Insights Report reveals alarming trends in cybersecurity. Key findings include:

1. 91% of cyberattacks targeted multiple organizations using mass scanning techniques, up from 69% in 2023.

2. Bots comprise 36% of global internet traffic.

3. Increased usage of out-of-band domains to exploit WordPress Plugin vulnerabilities.

4. 49% of malicious IP addresses were active for just one day, with an average duration of 3.5 days.

5. High Tech remains the top targeted industry (37%), followed by Media & Entertainment (21%) and Financial Services (17%).

The report emphasizes the importance of adaptive security controls and proactive threat anticipation.

Fastly (NYSE: FSLY) reported Q2 2024 financial results with revenue of $132.4 million, up 8% year-over-year. The company saw 4% sequential growth in Enterprise customer count, reaching 601. However, Fastly faces demand challenges from large customers. Key highlights include:

- Network services revenue: $104.2 million (+6% YoY)
- Security revenue: $25.4 million (+13% YoY)
- GAAP gross margin: 55.1% (vs 52.3% in Q2 2023)
- Non-GAAP gross margin: 58.5% (vs 56.6% in Q2 2023)
- GAAP net loss: $43.7 million
- Non-GAAP net loss: $9.3 million

Fastly's LTM net retention rate decreased to 110% from 114% in Q1 2024. The company provided Q3 2024 guidance with revenue between $130.0 - $134.0 million and full-year 2024 revenue guidance of $530.0 - $540.0 million.

Fastly (NYSE: FSLY), a leader in global edge cloud platforms, will announce its financial results for the second quarter of 2024 after market close on August 7, 2024. An investor conference call will be hosted at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. The webcast will be available on the Fastly investor relations website, and a telephone replay will be accessible until August 21, 2024.

Fastly (NYSE: FSLY) has launched the Fastly AI Accelerator, aimed at improving developer experiences by enhancing performance and reducing costs for large language model (LLM) applications. The AI Accelerator leverages Fastly's Edge Cloud Platform and semantic caching to reduce API calls, particularly for popular AI models like ChatGPT. This innovative tool is targeted at developers using medium and smaller AI models to cut costs and decrease training times. With a simple integration process, the AI Accelerator also offers enhanced security features such as TLS and DDoS mitigation. Fastly's expanded free tier account provides additional resources for developers, making it easier to build and launch new projects.

Fastly (NYSE: FSLY), a leader in global edge cloud platforms, has been named one of the 2024-2025 Best Companies to Work For by U.S. News & World Report. Fastly excelled in categories such as Best Companies To Work For (Overall), IT, Software and Services, and Best Companies To Work For – West. This recognition highlights Fastly's top rankings in quality of pay and benefits, employee experience, and a sense of belonging. Chief People Officer Puja Jaspal emphasized the company's commitment to employee well-being and professional development. The list, compiled by U.S. News, evaluates companies on factors like work-life balance, job stability, and career opportunities, based on data from sources including Glassdoor, Revelio Labs, and QUODD.

Fastly (NYSE: FSLY) has appointed Scott R. Lovett as its new Chief Revenue Officer, effective June 3, 2024. Lovett, with extensive experience in network services and cybersecurity, will lead Fastly's global sales and customer success teams. CEO Todd Nightingale emphasized Lovett's proven track record in driving revenue growth and customer success. Lovett previously served as Chief Revenue Officer at Imperva, where he achieved substantial growth through customer-centric strategies. He has also held leadership roles at Akamai, McAfee, and Cisco. Lovett expressed enthusiasm about leveraging Fastly's technology and customer service to unlock growth opportunities.