Fastly Inc · Q4 2023 earnings

Briefing

Fastly's Q4 2023 financial results demonstrated progress in operational and financial rigor, resulting in strong gross margins and non-GAAP net income.

Fastly reported record fourth quarter revenue of $137.8 million, representing 15% year-over-year growth. The company's GAAP gross margin was 55.0%, and non-GAAP gross margin was 59.2%. Fastly achieved GAAP net loss of $23.4 million and non-GAAP net income of $1.7 million.

• Total revenue reached $137.8 million, a 15% increase year-over-year.
• GAAP gross margin improved to 55.0% compared to 52.4% in Q4 2022.
• GAAP net loss decreased to $23.4 million from $46.7 million in the same quarter last year.
• Non-GAAP net income was $1.7 million, a significant improvement from a non-GAAP net loss of $9.5 million in Q4 2022.

Headline financials

Revenue & EPS history

Fastly provided guidance for Q1 2024 with total revenue expected to be between $131 million and $135 million and non-GAAP operating loss between ($14.0) million and ($10.0) million. Full year 2024 total revenue is projected to be between $580 million and $590 million, with non-GAAP operating loss between ($20.0) million and ($14.0) million.