Fastly Stock Price, News & Analysis

Fastly, Inc. (NYSE: FSLY), a leading global edge cloud platform, announced the release of its financial results for the first quarter of 2023, scheduled for Wednesday, May 3, 2023, after market close. The company will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss its results. Interested parties can access a live webcast at https://investors.fastly.com. A telephone replay will be available from May 3 to May 17, 2023. Fastly is recognized for its innovative edge cloud services, which enhance site performance and security for major brands like Reddit and The New York Times. With customer satisfaction ratings exceeding 95%, Fastly aims to deliver top-tier online experiences at a global scale.

Fastly has launched a new partner program enhancing its Global Partner Network, which was recently recognized with a 5-star rating by CRN in its 2023 Partner Program Guide. This program introduces a tiered model, providing simplified pricing, marketing support, and sales enablement to improve partner engagement. Fastly aims to empower partners like Value-Added Resellers and Managed Service Providers to deliver comprehensive solutions, ensuring customers receive high-quality services. The initiative supports Fastly's growth by facilitating better business outcomes for its partners.

Fastly, Inc. (NYSE: FSLY) has partnered with Google LLC (NASDAQ: GOOGL) to operate an Oblivious HTTP Relay (OHTTP Relay) as part of the Privacy Sandbox initiative, aimed at enhancing user privacy while supporting targeted advertising. This move comes as Google plans to phase out third-party cookies in 2024, making privacy a priority for online services. The OHTTP Relay provides an effective way to separate user data while maintaining advertising capabilities. Fastly's technology aims to protect users' personally identifiable information while enabling high-quality, personalized experiences, affirming its commitment to online privacy.

Fastly, Inc. (NYSE: FSLY) has launched the Fastly Managed Security Service, a comprehensive 24/7 threat detection and response offering aimed at protecting organizations from web application attacks. This service enhances the security provided to Fastly’s Next-Gen WAF customers by reducing the risk of web-based attacks and mitigating associated business costs. Fastly's security service addresses the increasing complexity of cybersecurity threats, including DDoS attacks and credential theft. Backed by a 15-minute response SLA for critical incidents, the service allows in-house teams to focus on core initiatives while ensuring robust security support.

Fastly, Inc. (NYSE: FSLY) announced participation in fireside chats at two upcoming investor conferences. The first is the Raymond James 44th Annual Institutional Investor Conference in Orlando on March 6, featuring Ron Kisling, CFO, and Vernon Essi, VP of Investor Relations at 1:40 p.m. ET. The second event is the Morgan Stanley Technology, Media and Telecom Conference in San Francisco on March 8, where Todd Nightingale, CEO, and Ron Kisling, CFO, will speak at 3:55 p.m. ET. Interested parties can access webcasts of the presentations on Fastly's Investor Relations website.

About Fastly: Fastly’s edge cloud platform delivers fast online experiences, enhancing performance and security for top brands globally.

Fastly reported record fourth quarter revenue of $119.3 million, marking a 22% year-over-year growth, exceeding guidance. Full year revenue reached $432.7 million, also a 22% increase year-over-year. GAAP gross margin improved to 52.4%, up from 50.9% in Q4 2021. Despite a GAAP net loss of $46.7 million, it was an improvement from $57.5 million in the same quarter last year. Fastly's trailing 12-month net retention rate rose to 119% from 118%. Guidance for Q1 2023 projects revenue between $114 million and $117 million.