Fastly, Inc.
Fastly, Inc. operates an edge cloud platform that helps companies deliver, secure, and observe digital experiences close to end users. Its software and network services combine content delivery, edge compute, and application security tools for enterprises and developer-led organizations that need low-latency, always-on internet services.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenuePerformance and delivery services for websites, apps, APIs, and digital media.
Edge security products that protect websites, apps, APIs, and users from attacks.
Compute and observability offerings that extend the platform beyond delivery and security.
Products
Reported · share of revenue- Network Services76.6 %
- Security20.0 %
- Other3.4 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Fastly sells mainly to enterprises and technology-savvy organizations that need better digital performance, security, and control over internet traffic. Customers include companies with significant growth, developer-led teams, and businesses expanding usage after an initial deployment. The company also works through partners such as resellers, MSPs, MSSPs, agencies, and consultants to broaden reach and embed its platform into customer workflows.
Buy delivery, security, and edge compute to improve user experience and lower total cost of ownership.
Use Fastly's programmable edge platform to build, secure, and deploy modern applications.
Buy high-performance delivery for traffic-heavy, latency-sensitive content distribution.
Referral, reseller, MSP, and MSSP partners help sell, implement, and extend Fastly services.
Strategy
Fastly is focused on scaling its go-to-market engine through new logo acquisition, expansion within existing customers, partner leverage, and international growth. Product strategy centers on a unified edge cloud platform that combines delivery, security, compute, and observability, making it easier for customers to adopt more of the stack over time.
Adds customers to the platform and creates future expansion opportunities.
Increases revenue per account as customers adopt more delivery, security, and compute products.
Broadens the addressable market and reduces dependence on any one region.
A single platform improves customer experience and supports higher adoption of new services.
Geography
Q1/2026Fastly serves customers globally, with U.S. billing-address revenue and international revenue as its main geographic split. The company had 258 employees outside the United States as of year-end 2025, and it continues to invest in international expansion through geographically based sales teams and partner coverage. Geography matters because traffic delivery, support coverage, and compliance expectations vary by region, while large customers can generate usage across multiple countries.
Share of the revenue the company reports by geography.
Risks
Fastly faces execution risk if its platform experiences outages, latency issues, or security failures, because customers rely on it for mission-critical digital traffic. It also faces cybersecurity and supply-chain risk, customer concentration risk, and pressure from ongoing losses and infrastructure costs. Industry-wide competition, rapid technology change, and regulatory shifts around AI and internet traffic can also affect demand and product requirements.
- Cybersecurity and supply-chain compromiseImpact: CriticalLikelihood: Medium
A breach could affect many customers simultaneously because Fastly sits in the delivery path for their traffic.
Exposure - Platform performance failuresImpact: HighLikelihood: Medium
Customers depend on Fastly for always-on delivery and security, so defects or outages can cause immediate business harm.
Exposure: Customer-facing digital traffic and mission-critical applications
- Customer concentrationImpact: HighLikelihood: Medium
The 10 largest customers generated a meaningful share of revenue, so account loss or reduced usage can move results.
Exposure: Large enterprise and streaming customers
- Infrastructure cost pressureImpact: MediumLikelihood: Medium
Bandwidth and colocation fees are core cost drivers and may not scale perfectly with revenue.
Exposure: Network provider fees and data center commitments
- Regulatory and traffic-shift riskImpact: MediumLikelihood: Low
Changes in AI, platform, or content rules can alter traffic volumes and customer demand.
Exposure: Large internet platforms and streaming-related traffic
Accounting
Judgemental itemsContracts may include multiple services, so allocation and timing affect reported revenue.
Impact: Can shift revenue between periods and affect growth comparisons
Bandwidth, colocation, and network depreciation are major variable costs tied to traffic.
Impact: Traffic changes can move gross margin materially
Management tests goodwill using forecasted revenue growth, margins, and discount rates.
Impact: A weaker outlook could trigger a non-cash impairment charge
Certain revenue recording steps are manual and depend on procedures to ensure completeness.
Impact: Raises the importance of internal controls and estimate accuracy
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Last updated: 24/09/2026