Fastly, Inc. (FSLY) Earnings
Fastly, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $0.07. FSLY has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +50.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.08 | $0.13 | +62.5% | $173M | +0.7% |
| Feb 11, 2026 | $0.06 | $0.12 | +100.0% | $173M | +8.1% |
| Nov 5, 2025 | $0.06 | $0.07 | +22.0% | $158M | -1.9% |
| May 7, 2025 | $-0.06 | $-0.05 | +16.7% | $144M | +4.4% |
| Feb 12, 2025 | $0.01 | $-0.03 | -400.0% | $141M | +1.4% |
| May 1, 2024 | $-0.07 | $-0.05 | +28.6% | $134M | +0.3% |
| Feb 14, 2024 | $0.00 | $0.01 | +150.0% | $138M | -1.2% |
| Nov 1, 2023 | $-0.07 | $-0.06 | +14.3% | $128M | +1.0% |
| Aug 2, 2023 | $-0.10 | $-0.04 | +60.0% | $123M | +3.3% |
| May 3, 2023 | $-0.10 | $-0.09 | +10.0% | $118M | +1.3% |
| Feb 15, 2023 | $-0.12 | $-0.08 | +33.3% | $119M | +3.8% |
| Nov 2, 2022 | $-0.17 | $-0.14 | +17.6% | $109M | +4.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Good afternoon. Fastly had a great start to the year in Q1. Value proposition is resonating with customers. Security growth accelerated 47% year over year, with newer security products like DDoS protection, bot management, etc. Compute offering grew 67% year over year. Network services grew 11% year over year. Hired Joan Jenkins as CMO. Closed several seven-figure customer wins. Expanded security portfolio with ContentGuard, API security, Fastly Agent Toolkit. Named one of two leaders in Forrester wave for edge development platforms.
Guidance
Second quarter revenue expected in range of $170 million to $176 million. Gross margins for second quarter expected to be 64% plus or minus 50 basis points. Non-GAAP operating profit for second quarter expected $12 million to $16 million. Non-GAAP net earnings per diluted share expected 5 cents to 8 cents. Calendar year 2026 revenue guidance raised to $710 million to $725 million, reflecting 15% growth at midpoint. 2026 gross margins expected 64% plus or minus 50 basis points. Non-GAAP operating profit expected $58 million to $68 million. Non-GAAP net earnings per diluted share expected 27 cents to 33 cents. Infrastructure capital spend expected 10 to 12% of revenue in 2026. Free cash flow guidance for 2026 in range of $40 to $50 million.
Segment performance
In Q1, Fastly delivered $173 million in revenue, up 20% year over year. Network services revenue was $126.2 million, growing 11% year-over-year. Security represented 22% of revenue, or $38.8 million, with 47% year-over-year growth. Other products revenue was $8 million, growing 67% year-over-year, driven by compute products. Top 10 customers represented 34% of revenue, growing 25% year-over-year; customers outside top 10 grew 17% year-over-year. Large customer count was 634. LTM NRR was 113%. RPO was $369 million, growing 63% year-over-year.
Risks & headwinds
Forward-looking statements subject to known and unknown risks, uncertainties, and assumptions that could cause actual results to differ. Supply chain dynamics, particularly memory components, could impact. Pricing environment and component costs could affect business. Geopolitical and macroeconomic factors could impact customer behavior and business performance.
Analyst Q&A
Q: On network services, driver of slowdown and role of agentic use of internet in core network services and security attach?
A: Q4 was strong due to gaming and e-commerce, Q1 dip due to seasonality. Agentic use of internet drives tailwinds, security attach pronounced with AI workloads.
Q: On pricing strategy regarding component pricing?
A: Q1 pricing environment similar to Q4, price erosion year-over-year, not generally mid-contract, believe platform is more efficient with potential structural advantage.
Q: Percentage of revenue with revenue commitments, and on distributed compute nodes and GPUs?
A: Current portion of RPO is $275 million. Staying in close contact with component vendors, network is highly distributed, shift from training to inference may open opportunity.
Q: Trajectory of compute business and use cases for edge compute?
A: Compute revenue growing, co-innovating with customers on Agentech and AI, edge compute opportunity large.
Q: Competitor exits and traffic rolling through, and value of security portfolio with advancements?
A: Lapped Egeo, growing share with existing customers and takeout campaigns. Threat environment makes security platforms like Fastly more important.
Q: AI traffic breakdown and security revenue drivers?
A: AI traffic growing faster than human browsing, security revenue growth due to new deals, expansion of past deals, and expanded security portfolio.
Q: Hiring of Joan and security uptake?
A: Joan to take marketing to next level, security growth due to new deals, expansion of portfolio, and AI relevance.
Q: Network growth assumptions, CapEx and hardware price assumptions, revenue guide subsegments?
A: Network services growth 9 - 11% year-over-year, CapEx guided 10 - 12% of revenue, front-loading spend. Network services 5 - 6% market grower, security expected 25 - 30% growth.
Q: Customer feedback on missing in security and compute for Agentech AI, and debt refinancing?
A: Early days for agentic adoption, working with customers on design partner program. 7.75% convert due 2028, focused on growing business.
Q: Security portfolio traction and macro impact on network services?
A: Customers starting with multiple security products, not insulated from macro but e-commerce has some resilience.