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Jun 30, 2022
Fastly Q2 2022 Earnings Report
Fastly's revenue momentum continued into 2022, exceeding the top end of guidance and representing a record revenue quarter.
Key Takeaways
Fastly announced its Q2 2022 financial results, with revenue exceeding the high end of the quarterly guidance range. The company repurchased $235 million of convertible debt at a 25% discount and reported a Net Retention Rate of 117%.
Total revenue of $102.5 million, representing 21% year-over-year growth.
Trailing 12 month net retention rate (NRR LTM) increased to 117% in the second quarter.
Total customer count of 2,894 in the second quarter, of which 471 were enterprise customers.
Acquired Glitch, a platform of 1.8 million developers.
Fastly
Fastly
Forward Guidance
Fastly provided guidance for Q3 2022 and full year 2022.
Positive Outlook
- Q3 2022 Total Revenue: $102 - $105 million
- Full Year 2022 Total Revenue: $415 - $425 million
Challenges Ahead
- Q3 2022 Non-GAAP Operating Loss: ($21.5) - ($18.5) million
- Full Year 2022 Non-GAAP Operating Loss: ($78) - ($72) million
- Q3 2022 Non-GAAP Net Loss per share: ($0.18) - ($0.15)
- Full Year 2022 Non-GAAP Net Loss per share: ($0.68) - ($0.63)