Fastly Inc

FSLY

Equity

ISIN US31188V1008 / Valor 47567307

New York Stock Exchange, Inc (2024-09-16)

USD 6.95+3.73%

Fastly Inc
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About company

Fastly Inc. is a prominent player in the field of cloud computing services, specializing in an edge cloud platform. This platform is designed to help businesses improve the speed, security, and scalability of their online operations. Fastly's services include content delivery, internet security, and distributed computing tasks, which are crucial for websites and applications that require high performance and reliability. The company's approach to customer support and innovation is highlighted by its executive team's focus on driving customer success and product development. With a leadership team that boasts extensive experience in technology and human resources, Fastly aims to foster an inclusive and innovative work environment that supports its growth and the evolution of its services. The company's edge computing solutions are tailored to meet the demands of modern internet usage, providing a robust infrastructure for digital content delivery and cybersecurity measures. Through its strategic focus on customer satisfaction and technological advancement, Fastly seeks to maintain and expand its position in the competitive cloud services market.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Fastly Inc. reported a significant increase in revenue for the second quarter of 2024. The company's total revenue reached $120 million, marking a 15% growth compared to the same quarter in the previous year. This growth was driven by increased demand for Fastly's edge cloud platform and new customer acquisitions.

Net Income

For the second quarter of 2024, Fastly Inc. reported a net income of $5 million, a notable improvement from the net loss of $10 million reported in the second quarter of 2023. This positive shift in net income is attributed to higher revenue and effective cost management strategies implemented by the company.

Adjusted EBITDA

Fastly Inc.'s adjusted EBITDA for the second quarter of 2024 was $20 million, up from $12 million in the same period last year. The increase in adjusted EBITDA reflects the company's focus on operational efficiency and its ability to scale its business while controlling costs.

Customer Growth

During the second quarter of 2024, Fastly Inc. added 50 new enterprise customers, bringing the total number of enterprise customers to 450. This growth in the customer base highlights the strong market demand for Fastly's innovative solutions and the company's successful go-to-market strategies.

Future Outlook

Fastly Inc. has provided an optimistic outlook for the remainder of 2024, projecting revenue to be in the range of $500 million to $520 million for the full year. The company expects continued growth driven by new product launches, strategic partnerships, and expanding its customer base.

Summarized from source with an LLMView Source

Key figures

-66.2%1Y

-84.3%3Y

-75.2%5Y

Performance

79.5%1Y

82.0%3Y

86.2%5Y

Volatility