Fastly (FSLY) Financials

$18.31 -0.72 (-3.78%)

Closing price 05/13/2026 04:00 PM Eastern

Extended Trading

$18.34 +0.04 (+0.19%)

As of 05/13/2026 07:59 PM Eastern

Annual Income Statements for Fastly

This table shows Fastly's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-32	-31	-52	-96	-223	-191	-133	-158	-122
Consolidated Net Income / (Loss)	-32	-31	-52	-96	-223	-191	-133	-158	-122
Net Income / (Loss) Continuing Operations	-32	-31	-52	-96	-223	-191	-133	-158	-122
Total Pre-Tax Income	-32	-31	-51	-107	-223	-191	-133	-155	-119
Total Operating Income	-31	-29	-47	-107	-219	-246	-198	-168	-119
Total Gross Profit	56	79	112	171	187	210	266	296	356
Total Revenue	105	145	200	291	354	433	506	544	624
Operating Revenue	105	145	200	291	354	433	506	544	624
Total Cost of Revenue	49	65	88	120	167	223	240	248	268
Operating Cost of Revenue	49	65	88	120	167	223	240	248	268
Total Operating Expenses	87	108	159	278	406	456	464	464	475
Selling, General & Admin Expense	17	23	41	102	127	121	116	113	111
Marketing Expense	41	50	71	101	153	180	192	199	201
Research & Development Expense	29	35	46	75	127	155	152	138	163
Restructuring Charge	-	-	-	-	-	0.00	0.00	9.72	0.00
Total Other Income / (Expense), net	-1.21	-1.61	-4.51	-0.20	-3.61	56	65	12	-0.19
Interest Expense	1.12	1.81	5.24	1.55	5.25	-49	-48	1.38	12
Interest & Investment Income	0.44	0.94	3.29	1.63	1.28	7.04	18	15	12
Other Income / (Expense), net	-0.54	-0.74	-2.56	-0.28	0.36	-0.03	-1.83	-1.03	-0.72
Income Tax Expense	0.21	0.19	0.49	-11	0.07	0.09	-0.22	2.60	2.49
Basic Earnings per Share	($1.39)	($1.27)	($0.75)	($0.93)	($1.92)	($1.57)	($1.03)	($1.14)	($0.83)
Weighted Average Basic Shares Outstanding	23.40M	24.38M	68.35M	103.55M	116.05M	121.72M	128.77M	138.10M	146.90M
Diluted Earnings per Share	($1.39)	($1.27)	($0.75)	($0.93)	($1.92)	($1.57)	($1.03)	($1.14)	($0.83)
Weighted Average Diluted Shares Outstanding	23.40M	24.38M	68.35M	103.55M	116.05M	121.72M	128.77M	138.10M	146.90M
Weighted Average Basic & Diluted Shares Outstanding	23.40M	24.38M	68.35M	103.55M	120.30M	125.40M	134.20M	142.30M	151.80M

This table shows Fastly's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-54	-23	-43	-44	-38	-33	-39	-38	-29	-16	-21
Consolidated Net Income / (Loss)	-54	-23	-43	-44	-38	-33	-39	-38	-29	-16	-21
Net Income / (Loss) Continuing Operations	-54	-23	-43	-44	-38	-33	-39	-38	-29	-16	-21
Total Pre-Tax Income	-54	-24	-43	-43	-38	-32	-38	-37	-29	-15	-25
Total Operating Income	-58	-43	-46	-47	-41	-34	-38	-37	-29	-15	-24
Total Gross Profit	66	76	73	73	75	75	77	81	92	106	108
Total Revenue	128	138	134	132	137	141	144	149	158	173	173
Operating Revenue	128	138	134	132	137	141	144	149	158	173	173
Total Cost of Revenue	62	62	60	59	62	66	68	68	66	67	65
Operating Cost of Revenue	62	62	60	59	62	66	68	68	66	67	65
Total Operating Expenses	124	118	119	120	115	109	115	118	121	121	132
Selling, General & Admin Expense	30	31	32	28	27	26	28	24	30	28	35
Marketing Expense	51	49	50	53	46	50	49	51	50	51	55
Research & Development Expense	39	38	38	35	32	33	37	42	41	42	42
Total Other Income / (Expense), net	4.03	19	3.18	3.67	3.03	2.59	-0.28	-0.04	-0.14	0.27	-0.76
Interest Expense	0.86	-15	0.58	0.46	0.47	-0.13	3.17	3.16	3.16	2.26	3.31
Interest & Investment Income	4.91	4.58	3.85	3.94	3.82	3.27	2.98	3.08	3.08	3.15	2.93
Other Income / (Expense), net	-0.02	-0.76	-0.09	0.19	-0.32	-0.82	-0.08	0.04	-0.06	-0.63	-0.38
Income Tax Expense	-0.00	-0.47	0.35	0.66	0.46	1.14	0.69	0.56	0.56	0.68	-4.13
Basic Earnings per Share	($0.42)	($0.17)	($0.32)	($0.32)	($0.27)	($0.23)	($0.27)	($0.26)	($0.20)	($0.10)	($0.13)
Weighted Average Basic Shares Outstanding	129.87M	128.77M	134.59M	137.44M	139.24M	138.10M	143.28M	145.78M	148.13M	146.90M	153.58M
Diluted Earnings per Share	($0.42)	($0.17)	($0.32)	($0.32)	($0.27)	($0.23)	($0.27)	($0.26)	($0.20)	($0.10)	($0.13)
Weighted Average Diluted Shares Outstanding	129.87M	128.77M	134.59M	137.44M	139.24M	138.10M	143.28M	145.78M	148.13M	146.90M	153.58M
Weighted Average Basic & Diluted Shares Outstanding	130.80M	134.20M	136.60M	138.60M	140.30M	142.30M	144.80M	147.40M	149.40M	151.80M	156.50M

This table details how cash moves in and out of Fastly's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	14	5.55	49	-22	103	-23	-35	178	-106
Net Cash From Operating Activities	-26	-17	-31	-20	-38	-70	0.36	16	94
Net Cash From Continuing Operating Activities	-26	-17	-31	-12	-38	-70	0.36	16	94
Net Income / (Loss) Continuing Operations	-32	-31	-52	-96	-223	-191	-133	-158	-122
Consolidated Net Income / (Loss)	-32	-31	-52	-96	-223	-191	-133	-158	-122
Depreciation Expense	9.64	13	17	20	29	43	52	54	61
Amortization Expense	0.43	-0.34	3.49	26	56	37	38	36	32
Non-Cash Adjustments To Reconcile Net Income	4.00	4.73	14	67	140	126	115	137	145
Changes in Operating Assets and Liabilities, net	-7.48	-3.84	-14	-28	-41	-84	-71	-52	-23
Net Cash From Investing Activities	-16	-47	-88	-275	-795	236	295	179	-213
Net Cash From Continuing Investing Activities	-16	-47	-88	-275	-795	236	295	179	-213
Purchase of Property, Plant & Equipment	-13	-20	-19	-36	-48	-80	-32	-37	-46
Purchase of Investments	-46	-63	-191	-269	-928	-355	-132	-155	-390
Sale of Property, Plant & Equipment	-	0.00	0.00	0.58	0.59	0.49	0.05	0.02	0.04
Sale and/or Maturity of Investments	44	35	123	232	185	697	459	371	223
Net Cash From Financing Activities	55	70	168	273	937	-189	-331	-17	13
Net Cash From Continuing Financing Activities	56	70	168	273	935	-189	-331	-17	13
Repayment of Debt	-7.85	-1.09	-49	-20	-1.35	-200	-338	-21	-155
Issuance of Debt	13	29	20	0.00	931	-	0.00	0.00	180
Issuance of Common Equity	0.00	0.12	198	284	8.07	4.78	8.56	6.24	7.01
Other Financing Activities, net	0.62	1.44	4.80	9.50	-2.70	5.69	-2.22	-2.66	-19
Effect of Exchange Rate Changes	-	-	-	-0.15	-0.48	-0.39	0.61	-0.10	0.22
Cash Interest Paid	1.00	1.83	5.42	1.59	1.94	5.04	2.90	0.91	12
Cash Income Taxes Paid	0.17	0.06	0.36	1.22	0.27	0.25	0.33	0.81	1.34

This table details how cash moves in and out of Fastly's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-3.44	-162	43	-3.76	70	69	-161	-43	31	67	-34
Net Cash From Operating Activities	-8.39	-7.38	11	-4.95	5.00	5.22	17	26	29	22	29
Net Cash From Continuing Operating Activities	-8.39	-7.38	11	-4.95	5.00	5.22	17	26	29	22	29
Net Income / (Loss) Continuing Operations	-54	-23	-43	-44	-38	-33	-39	-38	-29	-16	-21
Consolidated Net Income / (Loss)	-54	-23	-43	-44	-38	-33	-39	-38	-29	-16	-21
Depreciation Expense	13	14	13	13	14	14	15	15	16	15	12
Amortization Expense	9.36	8.66	8.67	8.54	8.97	9.46	9.34	8.59	8.54	5.93	6.64
Non-Cash Adjustments To Reconcile Net Income	46	27	38	35	33	30	33	33	40	40	43
Changes in Operating Assets and Liabilities, net	-23	-33	-5.86	-18	-13	-15	-0.63	6.43	-5.42	-23	-12
Net Cash From Investing Activities	7.68	-37	34	7.99	66	71	-179	-70	-0.34	36	-27
Net Cash From Continuing Investing Activities	7.68	-37	34	7.99	66	71	-179	-70	-0.34	36	-27
Purchase of Property, Plant & Equipment	-5.28	-8.60	-8.45	-9.38	-8.81	-11	-7.37	-14	-11	-14	-25
Purchase of Investments	-73	-59	-57	-60	-38	-	-179	-93	-79	-38	-179
Sale and/or Maturity of Investments	86	30	99	78	113	81	7.97	38	90	88	177
Net Cash From Financing Activities	-2.68	-118	-1.88	-6.79	-1.11	-7.32	0.83	0.98	2.10	8.85	-36
Net Cash From Continuing Financing Activities	-2.68	-118	-1.88	-6.79	-1.11	-7.32	0.83	0.98	2.10	8.85	-36
Repayment of Debt	-6.04	-120	-4.87	-4.24	-3.30	-8.28	-1.71	-0.54	-0.08	-152	-39
Issuance of Common Equity	2.22	1.55	2.88	1.03	2.17	0.16	2.13	1.24	2.11	1.53	2.28
Other Financing Activities, net	1.14	0.16	0.11	-3.59	0.02	0.81	0.41	0.28	0.07	-20	1.04
Effect of Exchange Rate Changes	-0.05	0.07	-0.05	-0.01	0.11	-0.15	0.08	0.18	-0.03	-0.01	-0.03
Cash Interest Paid	0.66	0.51	0.39	0.22	0.19	0.11	0.06	5.69	0.04	5.79	0.04
Cash Income Taxes Paid	-0.08	-0.04	0.29	0.23	0.21	0.07	0.45	0.30	0.36	0.23	0.36

This table presents Fastly's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	163	321	1,220	2,159	1,896	1,525	1,451	1,499
Total Current Assets	117	249	261	625	636	464	440	507
Cash & Equivalents	37	16	63	166	143	108	286	181
Short-Term Investments	47	115	131	362	375	215	9.71	181
Accounts Receivable	25	37	50	65	90	120	116	118
Prepaid Expenses	8.90	11	17	32	29	20	28	27
Plant, Property, & Equipment, net	42	0.00	0.00	167	180	177	179	187
Total Noncurrent Assets	3.13	72	959	1,367	1,079	885	832	806
Goodwill	0.36	0.37	636	637	670	670	670	670
Intangible Assets	0.61	1.13	122	103	83	62	43	26
Other Noncurrent Operating Assets	2.16	70	181	99	161	146	119	110
Total Liabilities & Shareholders' Equity	163	321	1,220	2,159	1,896	1,525	1,451	1,499
Total Liabilities	75	63	158	1,145	941	546	486	570
Total Current Liabilities	32	37	94	132	152	148	104	194
Short-Term Debt	11	-	-	-	-	-	0.00	39
Accounts Payable	2.33	4.60	9.15	9.26	4.79	5.61	6.04	18
Accrued Expenses	16	20	34	36	61	62	42	71
Current Deferred Revenue	-	-	-	-	-	-	27	35
Other Current Liabilities	2.51	13	51	87	86	80	30	32
Total Noncurrent Liabilities	43	26	64	1,013	789	398	382	376
Long-Term Debt	39	20	0.00	933	705	344	338	323
Other Noncurrent Operating Liabilities	0.65	6.12	64	80	84	55	44	53
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-132	258	1,062	1,014	955	979	965	930
Total Preferred & Common Equity	-132	258	1,062	1,014	955	979	965	930
Total Common Equity	-132	258	1,062	1,014	955	979	965	930
Common Stock	16	449	1,350	1,527	1,666	1,815	1,958	2,044
Retained Earnings	-146	-192	-288	-511	-702	-835	-993	-1,114
Accumulated Other Comprehensive Income / (Loss)	-0.04	0.20	0.01	-2.63	-9.29	-1.01	-0.10	-0.04

This table presents Fastly's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	1,907	1,862	1,657	1,641	1,506	1,483	1,472	1,449	1,463	1,471	1,514
Total Current Assets	637	662	505	551	460	451	453	453	465	480	490
Cash & Equivalents	88	348	274	270	151	147	218	125	82	113	147
Short-Term Investments	445	198	124	158	179	165	91	182	239	230	184
Accounts Receivable	73	85	78	99	108	114	117	119	117	109	130
Prepaid Expenses	31	30	30	24	23	25	28	26	26	28	30
Plant, Property, & Equipment, net	179	180	179	172	178	177	180	178	182	183	216
Total Noncurrent Assets	1,090	1,021	973	917	868	855	838	819	817	808	808
Goodwill	670	670	670	670	670	670	670	670	670	670	670
Intangible Assets	88	78	73	67	58	53	48	38	33	28	23
Other Noncurrent Operating Assets	146	155	152	147	138	132	120	110	114	110	114
Total Liabilities & Shareholders' Equity	1,907	1,862	1,657	1,641	1,506	1,483	1,472	1,449	1,463	1,471	1,514
Total Liabilities	940	904	670	672	514	501	502	492	521	534	536
Total Current Liabilities	145	125	132	143	120	109	114	301	313	329	163
Short-Term Debt	-	-	-	-	-	-	-	188	188	188	0.00
Accounts Payable	8.27	4.67	5.56	5.72	5.49	5.53	11	9.80	13	11	39
Accrued Expenses	54	42	47	57	36	34	41	37	45	60	46
Current Deferred Revenue	-	-	-	-	-	-	-	-	-	-	40
Other Current Liabilities	82	78	79	81	79	69	62	66	66	69	39
Total Noncurrent Liabilities	795	779	538	529	394	392	388	191	208	205	373
Long-Term Debt	704	705	472	473	344	344	344	150	150	150	324
Other Noncurrent Operating Liabilities	91	73	66	56	50	48	44	41	58	55	49
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	967	959	988	969	992	981	969	957	943	937	977
Total Preferred & Common Equity	967	959	988	969	992	981	969	957	943	937	977
Total Common Equity	967	959	988	969	992	981	969	957	943	937	977
Common Stock	1,635	1,711	1,748	1,782	1,871	1,903	1,929	1,989	2,012	2,036	2,113
Retained Earnings	-655	-746	-757	-811	-878	-922	-960	-1,032	-1,069	-1,099	-1,135
Accumulated Other Comprehensive Income / (Loss)	-13	-5.59	-3.15	-1.93	-0.52	-0.28	-0.02	-0.13	-0.17	-0.01	-0.42

This table displays calculated financial ratios and metrics derived from Fastly's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	37.81%	38.67%	45.10%	21.82%	22.12%	16.93%	7.45%	14.78%
EBITDA Growth	0.00%	21.78%	-72.80%	-113.36%	-115.87%	-24.52%	33.74%	28.22%	66.83%
EBIT Growth	0.00%	5.35%	-64.36%	-118.88%	-103.43%	-12.61%	18.83%	15.47%	29.14%
NOPAT Growth	0.00%	6.10%	-59.75%	-130.33%	-104.29%	-12.41%	19.57%	15.21%	29.13%
Net Income Growth	0.00%	4.67%	-66.64%	-86.10%	-132.14%	14.33%	30.24%	-18.76%	23.02%
EPS Growth	0.00%	8.63%	40.94%	-24.00%	-106.45%	18.23%	34.39%	-10.68%	27.19%
Operating Cash Flow Growth	0.00%	34.32%	-84.30%	36.38%	-93.22%	-80.95%	100.52%	4,432.04%	475.67%
Free Cash Flow Firm Growth	0.00%	0.00%	34.97%	-1,557.00%	76.76%	-31.64%	39.70%	16.46%	95.41%
Invested Capital Growth	0.00%	0.00%	31.77%	1,006.85%	5.10%	9.70%	1.78%	1.29%	-7.68%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	8.88%	4.44%	5.25%	3.79%	0.52%	5.41%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-97.40%	7.16%	4.35%	5.34%	10.39%	39.79%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-68.80%	0.72%	3.16%	2.47%	4.63%	13.96%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-67.78%	0.31%	3.22%	2.88%	4.68%	13.92%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-49.19%	-5.60%	5.39%	14.88%	-6.39%	12.50%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-97.87%	-2.67%	7.10%	16.26%	-5.56%	13.54%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-7.83%	-343.68%	37.65%	-6.45%	108.25%	330.72%	22.29%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	78.95%	-1.42%	9.02%	12.09%	74.29%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	793.33%	1.76%	2.60%	1.37%	0.13%	-0.27%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	53.60%	54.69%	55.94%	58.74%	52.87%	48.48%	52.64%	54.43%	57.08%
EBITDA Margin	-20.50%	-11.63%	-14.50%	-21.32%	-37.78%	-38.52%	-21.83%	-14.58%	-4.21%
Operating Margin	-29.58%	-20.16%	-23.22%	-36.86%	-61.81%	-56.90%	-39.14%	-30.89%	-19.07%
EBIT Margin	-30.09%	-20.67%	-24.50%	-36.95%	-61.71%	-56.90%	-39.50%	-31.07%	-19.19%
Profit (Net Income) Margin	-30.93%	-21.40%	-25.72%	-32.98%	-62.85%	-44.09%	-26.30%	-29.07%	-19.50%
Tax Burden Percent	100.65%	100.60%	100.96%	89.31%	100.03%	100.05%	99.83%	101.68%	102.09%
Interest Burden Percent	102.13%	102.92%	103.97%	99.93%	101.81%	77.44%	66.70%	92.02%	99.56%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-70.23%	-48.41%	-16.25%	-17.65%	-18.46%	-14.07%	-11.75%	-8.60%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	1.04%	-30.40%	-5.70%	23.37%	17.71%	16.38%	-155.35%	-192.17%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.35%	18.55%	1.71%	-3.81%	-0.92%	0.31%	-4.51%	-4.24%
Return on Equity (ROE)	0.00%	-70.58%	-29.86%	-14.54%	-21.46%	-19.38%	-13.76%	-16.25%	-12.84%
Cash Return on Invested Capital (CROIC)	0.00%	-270.23%	-75.82%	-183.11%	-22.62%	-27.72%	-15.83%	-13.03%	-0.62%
Operating Return on Assets (OROA)	0.00%	-18.36%	-20.30%	-13.95%	-12.94%	-12.14%	-11.68%	-11.35%	-8.11%
Return on Assets (ROA)	0.00%	-19.01%	-21.31%	-12.45%	-13.18%	-9.41%	-7.78%	-10.62%	-8.25%
Return on Common Equity (ROCE)	0.00%	106.23%	-10.87%	-14.54%	-21.46%	-19.38%	-13.76%	-16.25%	-12.84%
Return on Equity Simple (ROE_SIMPLE)	0.00%	23.45%	-20.01%	-9.03%	-21.96%	-19.97%	-13.59%	-16.37%	0.00%
Net Operating Profit after Tax (NOPAT)	-22	-20	-33	-75	-153	-172	-139	-118	-83
NOPAT Margin	-20.71%	-14.11%	-16.25%	-25.80%	-43.27%	-39.83%	-27.40%	-21.62%	-13.35%
Net Nonoperating Expense Percent (NNEP)	0.00%	-71.27%	-18.00%	-10.55%	-41.02%	-36.17%	-30.45%	143.60%	183.57%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-10.38%	-10.48%	-9.02%	-6.45%
Cost of Revenue to Revenue	46.40%	45.31%	44.06%	41.26%	47.13%	51.52%	47.36%	45.57%	42.92%
SG&A Expenses to Revenue	16.64%	16.22%	20.50%	35.10%	35.80%	27.92%	22.94%	20.86%	17.74%
R&D to Revenue	27.63%	23.95%	23.19%	25.72%	35.80%	35.89%	30.08%	25.38%	26.07%
Operating Expenses to Revenue	83.18%	74.85%	79.16%	95.60%	114.68%	105.37%	91.77%	85.32%	76.15%
Earnings before Interest and Taxes (EBIT)	-32	-30	-49	-107	-219	-246	-200	-169	-120
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-22	-17	-29	-62	-134	-167	-110	-79	-26
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	7.30	9.34	4.11	1.05	2.38	1.37	1.64
Price to Tangible Book Value (P/TBV)	0.00	0.00	7.34	32.56	15.17	4.99	9.44	5.26	6.51
Price to Revenue (P/Rev)	1.72	1.25	9.38	34.09	11.76	2.33	4.60	2.44	2.44
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	6.31	22.19	11.45	4.54	1.05	2.36	1.36	1.64
Enterprise Value to Revenue (EV/Rev)	0.00	2.54	8.47	33.35	11.41	2.38	4.63	2.51	2.44
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	6,472.21	83.27	16.10
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.58	0.08	0.00	0.92	0.74	0.35	0.35	0.39
Long-Term Debt to Equity	0.00	0.45	0.08	0.00	0.92	0.74	0.35	0.35	0.35
Financial Leverage	0.00	-0.34	-0.61	-0.30	-0.16	-0.05	0.02	0.03	0.02
Leverage Ratio	0.00	1.86	1.40	1.17	1.63	2.06	1.77	1.53	1.56
Compound Leverage Factor	0.00	1.91	1.46	1.17	1.66	1.59	1.18	1.41	1.55
Debt to Total Capital	0.00%	36.69%	7.23%	0.00%	47.93%	42.46%	25.96%	25.91%	28.02%
Short-Term Debt to Total Capital	0.00%	8.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.99%
Long-Term Debt to Total Capital	0.00%	28.48%	7.23%	0.00%	47.93%	42.46%	25.96%	25.91%	25.03%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	158.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-95.28%	92.77%	100.00%	52.07%	57.54%	74.04%	74.09%	71.98%
Debt to EBITDA	0.00	-3.02	-0.69	0.00	-6.97	-4.23	-3.11	-4.26	-13.76
Net Debt to EBITDA	0.00	1.95	6.23	0.00	0.92	-0.13	-0.13	-0.53	0.00
Long-Term Debt to EBITDA	0.00	-2.34	-0.69	0.00	-6.97	-4.23	-3.11	-4.26	-12.29
Debt to NOPAT	0.00	-2.49	-0.62	0.00	-6.09	-4.09	-2.48	-2.87	-4.34
Net Debt to NOPAT	0.00	1.61	5.56	0.00	0.81	-0.13	-0.11	-0.36	0.00
Long-Term Debt to NOPAT	0.00	-1.93	-0.62	0.00	-6.09	-4.09	-2.48	-2.87	-3.88
Altman Z-Score	0.00	1.09	17.89	37.42	1.96	0.23	1.94	0.95	0.96
Noncontrolling Interest Sharing Ratio	0.00%	250.50%	63.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	3.69	6.72	2.78	4.74	4.18	3.14	4.21	2.61
Quick Ratio	0.00	3.41	4.53	2.60	4.49	3.99	3.00	3.94	2.47
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-78	-51	-846	-197	-259	-156	-130	-5.98
Operating Cash Flow to CapEx	-195.21%	-86.41%	-160.82%	-56.70%	-80.66%	-87.23%	1.12%	44.11%	203.95%
Free Cash Flow to Firm to Interest Expense	0.00	-43.36	-9.75	-545.94	-37.47	0.00	0.00	-94.31	-0.51
Operating Cash Flow to Interest Expense	-23.17	-9.38	-5.98	-12.86	-7.34	0.00	0.00	11.87	8.03
Operating Cash Flow Less CapEx to Interest Expense	-35.04	-20.24	-9.70	-35.53	-16.43	0.00	0.00	-15.04	4.09
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.89	0.83	0.38	0.21	0.21	0.30	0.37	0.42
Accounts Receivable Turnover	0.00	5.85	6.48	6.66	6.17	5.61	4.82	4.60	5.33
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	3.41	0.00	0.00	0.00	2.49	2.83	3.06	3.41
Accounts Payable Turnover	0.00	28.08	25.47	17.45	18.15	31.75	46.10	42.51	22.64
Days Sales Outstanding (DSO)	0.00	62.44	56.32	54.83	59.17	65.03	75.77	79.38	68.44
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	13.00	14.33	20.91	20.12	11.50	7.92	8.59	16.12
Cash Conversion Cycle (CCC)	0.00	49.44	41.99	33.92	39.06	53.54	67.85	70.80	52.32
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	58	77	847	890	977	994	1,007	930
Invested Capital Turnover	0.00	4.98	2.98	0.63	0.41	0.46	0.51	0.54	0.64
Increase / (Decrease) in Invested Capital	0.00	58	18	771	43	86	17	13	-77
Enterprise Value (EV)	0.00	367	1,699	9,702	4,042	1,029	2,343	1,366	1,521
Market Capitalization	180	180	1,880	9,916	4,165	1,007	2,328	1,324	1,521
Book Value per Share	$0.00	($5.41)	$2.75	$9.36	$8.63	$7.77	$7.49	$6.88	$6.22
Tangible Book Value per Share	$0.00	($5.45)	$2.74	$2.68	$2.34	$1.64	$1.89	$1.80	$1.56
Total Capital	0.00	138	278	1,062	1,947	1,660	1,323	1,303	1,291
Total Debt	0.00	51	20	0.00	933	705	344	338	362
Total Long-Term Debt	0.00	39	20	0.00	933	705	344	338	323
Net Debt	0.00	-33	-181	-215	-124	22	15	42	0.08
Capital Expenditures (CapEx)	13	20	19	35	48	80	32	37	46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	13	11	-27	-35	-34	-6.74	40	-10
Debt-free Net Working Capital (DFNWC)	0.00	97	212	167	493	484	316	336	351
Net Working Capital (NWC)	0.00	86	212	167	493	484	316	336	313
Net Nonoperating Expense (NNE)	11	11	19	21	69	18	-5.53	41	38
Net Nonoperating Obligations (NNO)	0.00	-30	-181	-215	-124	22	15	42	0.08
Total Depreciation and Amortization (D&A)	10	13	20	45	85	80	89	90	93
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	9.16%	5.49%	-9.32%	-9.90%	-7.81%	-1.33%	7.33%	-1.68%
Debt-free Net Working Capital to Revenue	0.00%	67.02%	105.86%	57.47%	139.07%	111.89%	62.45%	61.75%	56.29%
Net Working Capital to Revenue	0.00%	59.16%	105.86%	57.47%	139.07%	111.89%	62.45%	61.75%	50.11%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.39)	($1.27)	($0.75)	($0.93)	($1.92)	($1.57)	($1.03)	($1.14)	($0.83)
Adjusted Weighted Average Basic Shares Outstanding	23.40M	24.38M	95.90M	114.60M	116.05M	121.72M	128.77M	138.10M	146.90M
Adjusted Diluted Earnings per Share	($1.39)	($1.27)	($0.75)	($0.93)	($1.92)	($1.57)	($1.03)	($1.14)	($0.83)
Adjusted Weighted Average Diluted Shares Outstanding	23.40M	24.38M	95.90M	114.60M	116.05M	121.72M	128.77M	138.10M	146.90M
Adjusted Basic & Diluted Earnings per Share	($1.39)	($1.27)	($0.75)	($0.93)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	23.40M	24.38M	68.35M	103.55M	120.30M	125.40M	134.20M	142.30M	151.80M
Normalized Net Operating Profit after Tax (NOPAT)	-22	-20	-33	-75	-153	-172	-139	-111	-83
Normalized NOPAT Margin	-20.71%	-14.11%	-16.25%	-25.80%	-43.27%	-39.83%	-27.40%	-20.37%	-13.35%
Pre Tax Income Margin	-30.74%	-21.27%	-25.47%	-36.93%	-62.83%	-44.06%	-26.35%	-28.59%	-19.10%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-28.29	-16.51	-9.38	-69.39	-41.69	0.00	0.00	-122.25	-10.18
NOPAT to Interest Expense	-19.46	-11.27	-6.22	-48.45	-29.23	0.00	0.00	-85.05	-7.08
EBIT Less CapEx to Interest Expense	-40.16	-27.37	-13.10	-92.07	-50.79	0.00	0.00	-149.16	-14.12
NOPAT Less CapEx to Interest Expense	-31.33	-22.13	-9.94	-71.13	-38.33	0.00	0.00	-111.96	-11.02
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-10.61%	-0.70%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Fastly's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	151,800,000.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	151,800,000.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.14
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.80%	15.47%	13.57%	7.77%	7.35%	2.03%	8.20%	12.34%	15.32%	22.79%	19.76%
EBITDA Growth	18.69%	22.82%	5.12%	10.84%	49.14%	43.58%	43.65%	45.90%	74.49%	145.99%	58.22%
EBIT Growth	8.66%	10.47%	2.47%	8.08%	29.90%	18.92%	17.45%	20.71%	29.49%	55.29%	36.55%
NOPAT Growth	11.29%	12.13%	2.15%	6.21%	30.43%	19.38%	17.47%	20.95%	29.08%	56.05%	37.41%
Net Income Growth	14.36%	49.87%	2.82%	-308.53%	30.00%	-40.62%	9.85%	14.15%	22.45%	52.85%	47.57%
EPS Growth	19.23%	54.05%	11.11%	-300.00%	35.71%	-35.29%	15.63%	18.75%	25.93%	56.52%	51.85%
Operating Cash Flow Growth	69.64%	39.17%	225.63%	-119.80%	159.62%	170.76%	55.30%	621.38%	478.25%	329.77%	66.97%
Free Cash Flow Firm Growth	43.46%	60.77%	76.35%	31.49%	23.32%	21.99%	73.52%	146.06%	200.03%	281.28%	104.83%
Invested Capital Growth	3.02%	1.78%	0.46%	2.93%	2.54%	1.29%	-1.69%	-5.35%	-7.31%	-7.68%	-1.74%
Revenue Q/Q Growth	4.06%	7.79%	-3.09%	-0.86%	3.65%	2.46%	2.77%	2.93%	6.40%	9.09%	0.24%
EBITDA Q/Q Growth	-29.83%	41.30%	-15.66%	-1.16%	25.94%	34.89%	-15.51%	2.87%	65.07%	217.36%	-204.93%
EBIT Q/Q Growth	-15.26%	25.72%	-6.93%	-0.41%	12.11%	14.08%	-8.86%	3.54%	21.84%	45.52%	-54.47%
NOPAT Q/Q Growth	-17.09%	27.01%	-8.63%	-1.02%	13.15%	15.42%	-11.21%	3.24%	22.07%	47.58%	-58.35%
Net Income Q/Q Growth	-407.39%	56.94%	-85.70%	-0.70%	13.06%	13.49%	-19.04%	4.10%	21.46%	47.41%	-32.37%
EPS Q/Q Growth	-425.00%	59.52%	-88.24%	0.00%	15.63%	14.81%	-17.39%	3.70%	23.08%	50.00%	-30.00%
Operating Cash Flow Q/Q Growth	-133.57%	12.07%	250.90%	-144.45%	201.09%	4.36%	231.19%	49.22%	12.12%	-22.44%	28.67%
Free Cash Flow Firm Q/Q Growth	22.56%	32.17%	21.70%	-66.58%	13.34%	30.98%	73.42%	389.72%	88.23%	25.08%	-99.29%
Invested Capital Q/Q Growth	-0.40%	1.37%	1.03%	0.91%	-0.78%	0.13%	-1.94%	-2.85%	-2.83%	-0.27%	4.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.70%	55.00%	54.85%	55.07%	54.47%	53.40%	53.16%	54.55%	58.35%	61.39%	62.52%
EBITDA Margin	-28.12%	-15.31%	-18.28%	-18.65%	-13.33%	-8.47%	-9.52%	-8.98%	-2.95%	3.17%	-3.32%
Operating Margin	-45.65%	-30.91%	-34.65%	-35.31%	-29.58%	-24.42%	-26.43%	-24.84%	-18.19%	-8.74%	-13.81%
EBIT Margin	-45.66%	-31.46%	-34.71%	-35.16%	-29.81%	-25.00%	-26.48%	-24.82%	-18.23%	-9.10%	-14.03%
Profit (Net Income) Margin	-42.49%	-16.97%	-32.52%	-33.04%	-27.71%	-23.39%	-27.10%	-25.24%	-18.63%	-8.98%	-11.86%
Tax Burden Percent	100.00%	98.05%	100.81%	101.53%	101.21%	103.59%	101.80%	101.51%	101.93%	104.59%	83.25%
Interest Burden Percent	93.07%	55.02%	92.95%	92.54%	91.82%	90.32%	100.52%	100.22%	100.28%	94.33%	101.56%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-16.12%	-11.11%	-12.63%	-13.15%	-11.28%	-9.29%	-10.30%	-10.07%	-7.78%	-3.94%	-6.44%
ROIC Less NNEP Spread (ROIC-NNEP)	952.71%	24.25%	-53.62%	-88.13%	-50.93%	-40.67%	-68.00%	-57.62%	-67.09%	-27.58%	-38.65%
Return on Net Nonoperating Assets (RNNOA)	-1.37%	0.46%	-1.48%	-1.32%	-1.27%	-1.18%	-1.50%	-1.47%	-1.11%	-0.61%	-0.47%
Return on Equity (ROE)	-17.49%	-10.65%	-14.11%	-14.46%	-12.55%	-10.47%	-11.80%	-11.54%	-8.89%	-4.55%	-6.92%
Cash Return on Invested Capital (CROIC)	-17.74%	-15.83%	-14.22%	-16.47%	-14.93%	-13.03%	-9.53%	-5.15%	-2.40%	-0.62%	-5.73%
Operating Return on Assets (OROA)	-12.55%	-9.31%	-10.76%	-11.90%	-10.36%	-9.13%	-9.94%	-9.62%	-7.34%	-3.85%	-6.18%
Return on Assets (ROA)	-11.68%	-5.02%	-10.08%	-11.18%	-9.63%	-8.55%	-10.17%	-9.79%	-7.50%	-3.80%	-5.23%
Return on Common Equity (ROCE)	-17.49%	-10.65%	-14.11%	-14.46%	-12.55%	-10.47%	-11.80%	-11.54%	-8.89%	-4.55%	-6.92%
Return on Equity Simple (ROE_SIMPLE)	-16.14%	0.00%	-13.29%	-16.80%	-15.32%	0.00%	-16.07%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-41	-30	-32	-33	-28	-24	-27	-26	-20	-11	-17
NOPAT Margin	-31.95%	-21.64%	-24.25%	-24.71%	-20.71%	-17.09%	-18.50%	-17.39%	-12.74%	-6.12%	-9.67%
Net Nonoperating Expense Percent (NNEP)	-968.83%	-35.36%	40.99%	74.98%	39.65%	31.38%	57.70%	47.55%	59.31%	23.64%	32.20%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.25%	-	-	-	-1.84%	-2.06%	-2.02%	-1.58%	-0.82%	-1.29%
Cost of Revenue to Revenue	48.30%	45.00%	45.15%	44.93%	45.53%	46.60%	46.84%	45.45%	41.65%	38.61%	37.48%
SG&A Expenses to Revenue	23.47%	22.81%	23.70%	21.48%	19.80%	18.60%	19.54%	16.36%	18.77%	16.47%	20.22%
R&D to Revenue	30.57%	27.78%	28.65%	26.52%	23.24%	23.29%	25.91%	28.39%	26.18%	24.10%	24.26%
Operating Expenses to Revenue	97.35%	85.91%	89.50%	90.38%	84.06%	77.82%	79.58%	79.39%	76.55%	70.13%	76.34%
Earnings before Interest and Taxes (EBIT)	-58	-43	-46	-47	-41	-35	-38	-37	-29	-16	-24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-36	-21	-24	-25	-18	-12	-14	-13	-4.67	5.48	-5.75
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.56	2.38	1.71	1.03	1.08	1.37	0.94	1.08	1.35	1.64	4.51
Price to Tangible Book Value (P/TBV)	10.73	9.44	6.43	3.90	4.17	5.26	3.62	4.27	5.28	6.51	15.57
Price to Revenue (P/Rev)	5.08	4.60	3.25	1.89	1.94	2.44	1.62	1.79	2.13	2.44	6.76
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.54	2.36	1.70	1.03	1.08	1.36	0.94	1.08	1.35	1.64	4.54
Enterprise Value to Revenue (EV/Rev)	5.11	4.63	3.27	1.96	2.01	2.51	1.68	1.82	2.12	2.44	6.75
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	6,472.21	83.96	0.00	284.97	83.27	41.27	19.49	16.26	16.10	41.54
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.35	0.35	0.35	0.36	0.35	0.35	0.36	0.36	0.39	0.33
Long-Term Debt to Equity	0.49	0.35	0.35	0.35	0.36	0.35	0.16	0.16	0.16	0.35	0.33
Financial Leverage	0.00	0.02	0.03	0.01	0.03	0.03	0.02	0.03	0.02	0.02	0.01
Leverage Ratio	1.83	1.77	1.73	1.59	1.61	1.53	1.52	1.53	1.54	1.56	1.53
Compound Leverage Factor	1.71	0.97	1.61	1.48	1.47	1.38	1.52	1.53	1.55	1.47	1.56
Debt to Total Capital	32.80%	25.96%	25.74%	25.97%	26.22%	25.91%	26.09%	26.39%	26.52%	28.02%	24.88%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.51%	14.68%	14.76%	2.99%	0.00%
Long-Term Debt to Total Capital	32.80%	25.96%	25.74%	25.97%	26.22%	25.91%	11.58%	11.70%	11.76%	25.03%	24.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	67.20%	74.04%	74.26%	74.03%	73.78%	74.09%	73.91%	73.61%	73.48%	71.98%	75.12%
Debt to EBITDA	-4.05	-3.11	-3.15	-3.24	-3.89	-4.26	-4.92	-5.90	-7.74	-13.76	-17.69
Net Debt to EBITDA	-0.10	-0.13	-0.12	-0.31	-0.41	-0.53	-0.44	-0.29	0.11	0.00	0.38
Long-Term Debt to EBITDA	-4.05	-3.11	-3.15	-3.24	-3.89	-4.26	-2.18	-2.62	-3.43	-12.29	-17.69
Debt to NOPAT	-3.31	-2.48	-2.49	-2.54	-2.79	-2.87	-3.02	-3.22	-3.49	-4.34	-4.41
Net Debt to NOPAT	-0.09	-0.11	-0.09	-0.24	-0.29	-0.36	-0.27	-0.16	0.05	0.00	0.09
Long-Term Debt to NOPAT	-3.31	-2.48	-2.49	-2.54	-2.79	-2.87	-1.34	-1.43	-1.55	-3.88	-4.41
Altman Z-Score	2.00	2.28	1.68	0.87	0.89	1.25	0.52	0.59	0.83	1.19	4.52
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.85	3.14	3.83	4.13	3.97	4.21	1.50	1.49	1.46	2.61	3.00
Quick Ratio	3.68	3.00	3.63	3.89	3.72	3.94	1.42	1.40	1.37	2.47	2.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-70	-47	-37	-62	-53	-37	-9.79	28	53	67	0.47
Operating Cash Flow to CapEx	-159.41%	-85.83%	131.77%	-52.88%	56.75%	49.38%	234.64%	179.23%	268.99%	162.14%	116.60%
Free Cash Flow to Firm to Interest Expense	-80.73	0.00	-63.83	-132.69	-112.81	0.00	-3.08	8.96	16.89	29.54	0.14
Operating Cash Flow to Interest Expense	-9.73	0.00	19.23	-10.66	10.58	0.00	5.45	8.15	9.15	9.93	8.73
Operating Cash Flow Less CapEx to Interest Expense	-15.84	0.00	4.64	-30.83	-8.06	0.00	3.13	3.60	5.75	3.80	1.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.30	0.31	0.34	0.35	0.37	0.38	0.39	0.40	0.42	0.44
Accounts Receivable Turnover	5.68	4.82	5.41	5.53	5.02	4.60	4.90	4.94	5.24	5.33	5.24
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	2.78	2.83	2.92	2.99	3.07	3.06	3.12	3.18	3.26	3.41	3.31
Accounts Payable Turnover	33.51	46.10	47.80	43.90	28.60	42.51	33.38	27.89	24.04	22.64	10.86
Days Sales Outstanding (DSO)	64.21	75.77	67.43	65.99	72.69	79.38	74.55	73.90	69.67	68.44	69.66
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	10.89	7.92	7.64	8.31	12.76	8.59	10.94	13.09	15.18	16.12	33.62
Cash Conversion Cycle (CCC)	53.32	67.85	59.80	57.67	59.93	70.80	63.61	60.81	54.49	52.32	36.04
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	981	994	1,004	1,014	1,006	1,007	987	959	932	930	970
Invested Capital Turnover	0.50	0.51	0.52	0.53	0.54	0.54	0.56	0.58	0.61	0.64	0.67
Increase / (Decrease) in Invested Capital	29	17	4.58	29	25	13	-17	-54	-74	-77	-17
Enterprise Value (EV)	2,489	2,343	1,709	1,039	1,085	1,366	931	1,039	1,255	1,521	4,404
Market Capitalization	2,477	2,328	1,696	1,007	1,049	1,324	901	1,022	1,260	1,521	4,411
Book Value per Share	$7.50	$7.49	$7.37	$7.18	$6.99	$6.88	$6.73	$6.51	$6.36	$6.22	$6.44
Tangible Book Value per Share	$1.79	$1.89	$1.96	$1.89	$1.81	$1.80	$1.75	$1.65	$1.62	$1.56	$1.87
Total Capital	1,441	1,323	1,336	1,325	1,314	1,303	1,295	1,281	1,275	1,291	1,301
Total Debt	473	344	344	344	344	338	338	338	338	362	324
Total Long-Term Debt	473	344	344	344	344	338	150	150	150	323	324
Net Debt	12	15	13	32	36	42	30	17	-4.79	0.08	-6.87
Capital Expenditures (CapEx)	5.26	8.60	8.45	9.36	8.81	11	7.37	14	11	14	25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-20	-6.74	10	30	31	40	32	19	-3.81	-10	-3.84
Debt-free Net Working Capital (DFNWC)	408	316	340	342	339	336	340	340	339	351	327
Net Working Capital (NWC)	408	316	340	342	339	336	152	152	151	313	327
Net Nonoperating Expense (NNE)	13	-6.42	11	11	9.60	8.85	12	12	9.33	4.94	3.80
Net Nonoperating Obligations (NNO)	12	15	13	32	36	42	30	17	-4.79	0.08	-6.87
Total Depreciation and Amortization (D&A)	22	22	22	22	23	23	25	24	24	21	19
Debt-free, Cash-free Net Working Capital to Revenue	-4.15%	-1.33%	2.01%	5.62%	5.66%	7.33%	5.82%	3.28%	-0.64%	-1.68%	-0.59%
Debt-free Net Working Capital to Revenue	83.71%	62.45%	65.14%	64.28%	62.65%	61.75%	61.22%	59.53%	57.28%	56.29%	50.06%
Net Working Capital to Revenue	83.71%	62.45%	65.14%	64.28%	62.65%	61.75%	27.35%	26.60%	25.49%	50.11%	50.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.42)	($0.17)	($0.32)	($0.32)	($0.27)	($0.23)	($0.27)	($0.26)	($0.20)	($0.10)	($0.13)
Adjusted Weighted Average Basic Shares Outstanding	129.87M	128.77M	134.59M	137.44M	139.24M	138.10M	143.28M	145.78M	148.13M	146.90M	153.58M
Adjusted Diluted Earnings per Share	($0.42)	($0.17)	($0.32)	($0.32)	($0.27)	($0.23)	($0.27)	($0.26)	($0.20)	($0.10)	($0.13)
Adjusted Weighted Average Diluted Shares Outstanding	129.87M	128.77M	134.59M	137.44M	139.24M	138.10M	143.28M	145.78M	148.13M	146.90M	153.58M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	130.80M	134.20M	136.60M	138.60M	140.30M	142.30M	144.80M	147.40M	149.40M	151.80M	156.50M
Normalized Net Operating Profit after Tax (NOPAT)	-38	-30	-32	-31	-22	-24	-27	-26	-20	-11	-17
Normalized NOPAT Margin	-29.59%	-21.64%	-24.25%	-23.05%	-15.75%	-17.09%	-18.50%	-17.39%	-12.74%	-6.12%	-9.67%
Pre Tax Income Margin	-42.49%	-17.31%	-32.26%	-32.54%	-27.38%	-22.58%	-26.62%	-24.87%	-18.28%	-8.59%	-14.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-67.70	0.00	-80.05	-100.30	-86.48	0.00	-12.06	-11.66	-9.12	-6.95	-7.34
NOPAT to Interest Expense	-47.38	0.00	-55.93	-70.50	-60.07	0.00	-8.42	-8.17	-6.38	-4.67	-5.06
EBIT Less CapEx to Interest Expense	-73.81	0.00	-94.64	-120.47	-105.12	0.00	-14.38	-16.21	-12.53	-13.08	-14.83
NOPAT Less CapEx to Interest Expense	-53.48	0.00	-70.52	-90.67	-78.70	0.00	-10.74	-12.72	-9.78	-10.80	-12.55
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, investor-friendly interpretation of Fastly's quarterly results from 2022 through 2025, focusing on revenue, profitability, and cash flow trends.

Revenue growth into 2025: 2025 Q4 revenue reached $172.6M, up from 2024 Q4 ($140.6M) and earlier quarters, signaling strong top-line growth.
Improving gross profitability in 2025: Q4 2025 gross profit was $105.96M with a gross margin near 61%, higher than 2024 Q4 (~53%), indicating better profitability per dollar of revenue.
Steady positive cash flow from operations in 2025: Operating cash flow from continuing operations was positive in all 2025 quarters (e.g., ~$17.2M in Q1 up to ~$28.9M in Q3), showing ongoing cash generation from core activities.
Positive free cash flow in Q4 2025: Free cash flow (CFO minus capex) was approximately $8.2M, suggesting cash generation after capital investments.
Asset monetization boosting investing cash flow in Q4 2025: Net cash from continuing investing activities was $36.15M in Q4 2025, driven by the sale/maturity of investments (~$87.76M).
Liquidity boost in Q4 2025: Net change in cash and equivalents for Q4 2025 was +$67.43M, improving the liquidity position despite losses.
Balanced but leveraged balance sheet (neutral view): As of 2025 Q3, total assets were about $1.471B with total liabilities around $533.6M and equity near $937M, indicating a moderate leverage profile.
Debt levels remain manageable (neutral): Short-term debt (~$188.2M) and long-term debt (~$149.9M) contribute to liabilities of about $533.6M, a manageable level given the asset base.
Profitability remains negative in 2025: Net income for 2025 quarters remained negative (Q4: -$15.5M; Q3: -$29.5M; Q2: -$37.5M; Q1: -$39.1M), indicating ongoing profitability challenges.
Per-share losses persist in 2025: Earnings per share were negative across all 2025 quarters (basic and diluted EPS ranged roughly from -$0.10 to -$0.27), reflecting continued losses per share.

05/14/26 02:37 AM ETAI Generated. May Contain Errors.

Fastly Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Fastly's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Fastly's net income appears to be on an upward trend, with a most recent value of -$121.68 million in 2025, rising from -$32.45 million in 2017. The previous period was -$158.06 million in 2024. Check out Fastly's forecast to explore projected trends and price targets.

Fastly's total operating income in 2025 was -$119 million, based on the following breakdown:

Total Gross Profit: $356.20 million
Total Operating Expenses: $475.20 million

Over the last 8 years, Fastly's total revenue changed from $104.90 million in 2017 to $624.02 million in 2025, a change of 494.9%.

Fastly's total liabilities were at $569.90 million at the end of 2025, a 17.2% increase from 2024, and a 658.9% increase since 2018.

In the past 7 years, Fastly's cash and equivalents has ranged from $16.14 million in 2019 to $286.18 million in 2024, and is currently $180.56 million as of their latest financial filing in 2025.

Over the last 8 years, Fastly's book value per share changed from 0.00 in 2017 to 6.22 in 2025, a change of 622.2%.

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Financial statements for NYSE:FSLY last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Fastly (FSLY) Financials

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Fastly (FSLY) Financials

Annual Income Statements for Fastly

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Quarterly Metrics And Ratios for Fastly

Financials Breakdown Chart

Key Financial Trends

Fastly Financials - Frequently Asked Questions

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How has Fastly's net income changed over the last 8 years?

What is Fastly's operating income?

How has Fastly's revenue changed over the last 8 years?

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How has Fastly's book value per share changed over the last 8 years?

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