Fastly (FSLY) financial statements
Fastly reported revenue of $624M in fiscal 2025, up 25.0% a year over 8 years.
Net income was -$122M and the operating margin -19.1%, against -29.6% in 2017.
Free cash flow was $48M.
The diluted share count rose 528% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Fastly's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $105M | $145M | $200M | $291M | $354M | $433M | $506M | $544M | $624M |
| Cost of revenue | $49M | $65M | $88M | $120M | $167M | $223M | $240M | $248M | $268M |
| Gross profit | $56M | $79M | $112M | $171M | $187M | $210M | $266M | $296M | $356M |
| Research and development | $29M | $35M | $46M | $75M | $127M | $155M | $152M | $138M | $163M |
| Selling, general and admin | $58M | $74M | $112M | $203M | $279M | $301M | $308M | $312M | $312M |
| Operating income | -$31M | -$29M | -$47M | -$107M | -$219M | -$246M | -$198M | -$168M | -$119M |
| Interest expense | $1M | $2M | $5M | $2M | $5M | $6M | $4M | $3M | $13M |
| Pre-tax income | -$32M | -$31M | -$51M | -$107M | -$223M | -$191M | -$133M | -$155M | -$119M |
| Income tax | $208,000 | $185,000 | $492,000 | -$11M | $69,000 | $94,000 | -$221,000 | $3M | $2M |
| Net income | -$32M | -$31M | -$52M | -$96M | -$223M | -$191M | -$133M | -$158M | -$122M |
| EPS (diluted) | -$1.39 | -$1.27 | -$0.75 | -$0.93 | -$1.92 | -$1.57 | -$1.03 | -$1.14 | -$0.83 |
| Diluted shares | 23M | 24M | 68M | 104M | 116M | 122M | 129M | 138M | 147M |
| Gross margin | 53.6% | 54.7% | 55.9% | 58.7% | 52.9% | 48.5% | 52.6% | 54.4% | 57.1% |
| Operating margin | -29.6% | -20.2% | -23.2% | -36.9% | -61.8% | -56.9% | -39.1% | -30.9% | -19.1% |
| Net margin | -30.9% | -21.4% | -25.7% | -33.0% | -62.9% | -44.1% | -26.3% | -29.1% | -19.5% |
Balance sheet
Fiscal years, from Fastly's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $31M | $84M | $131M | $194M | $528M | $518M | $323M | $296M | $362M |
| Receivables | — | $25M | $37M | $50M | $65M | $90M | $120M | $116M | $118M |
| Total current assets | — | $117M | $249M | $261M | $625M | $636M | $464M | $440M | $507M |
| Property, plant and equipment | — | $42M | $60M | $96M | $167M | $180M | $177M | $179M | $187M |
| Goodwill | $382,000 | $360,000 | $372,000 | $636M | $637M | $670M | $670M | $670M | $670M |
| Total assets | — | $163M | $321M | $1.2B | $2.2B | $1.9B | $1.5B | $1.5B | $1.5B |
| Total current liabilities | — | $32M | $37M | $94M | $132M | $152M | $148M | $104M | $194M |
| Long-term debt | — | $39M | $20M | $0 | $933M | $705M | $344M | $338M | $323M |
| Total liabilities | — | $75M | $63M | $158M | $1.1B | $941M | $546M | $486M | $570M |
| Shareholders' equity | -$107M | -$132M | $258M | $1.1B | $1.0B | $955M | $979M | $965M | $930M |
| Net debt | -$31M | $14M | $8M | -$63M | $767M | $561M | $236M | $51M | $181M |
Cash flow
Fiscal years, from Fastly's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$26M | -$17M | -$31M | -$20M | -$38M | -$70M | $362,000 | $16M | $94M |
| Capital spending | $13M | $20M | $19M | $36M | $48M | $38M | $32M | $36M | $46M |
| Free cash flow | -$39M | -$37M | -$51M | -$56M | -$87M | -$108M | -$32M | -$20M | $48M |
| Stock-based compensation | $3M | $4M | $12M | $64M | $140M | $146M | $136M | $108M | $117M |
| Free cash flow margin | -37.3% | -25.3% | -25.3% | -19.1% | -24.5% | -24.9% | -6.3% | -3.7% | 7.7% |
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Open FSLY in InvestinglyQuestions
What was Fastly's revenue in 2025?
$624M in fiscal 2025, from its 10-K filing.
How much free cash flow does Fastly generate?
$48M in fiscal 2025 (operating cash flow minus capital spending).
From Fastly's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.