Fastly Q2 2023 Earnings Report
Key Takeaways
Fastly announced strong Q2 2023 financial results, exceeding the high end of their guidance range with a record revenue of $122.8 million, representing a 20% year-over-year growth. The company also expanded its market reach with new packaging and pricing and repurchased $236.4 million in convertible debt for $195.7 million, resulting in a $36.8 million net gain.
Total revenue reached $122.8 million, a 20% increase year-over-year and a 4% sequential increase.
GAAP gross margin was 52.3%, up from 44.9% in Q2 2022; non-GAAP gross margin was 56.6%, compared to 50.4% in Q2 2022.
GAAP net loss improved to $10.7 million, compared to $16.4 million in Q2 2022; non-GAAP net loss was $4.6 million, compared to $28.0 million in Q2 2022.
DBNER increased to 123% in the second quarter from 121% in the first quarter.
Fastly
Fastly
Forward Guidance
Fastly provided guidance for Q3 2023 and full year 2023. They expect Q3 revenue between $125 million and $128 million and full year revenue between $500 million and $510 million. Non-GAAP operating loss is expected to be between ($15.0) million and ($13.0) million for Q3 and between ($49.0) million and ($43.0) million for the full year. Non-GAAP net loss per share is expected to be between ($0.09) and ($0.07) for Q3 and between ($0.27) and ($0.21) for the full year.