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Sep 30, 2022
Fastly Q3 2022 Earnings Report
Reported record quarterly revenue, exceeding the high-end of guidance and growing 25% annually, with sequential growth in GAAP and non-GAAP gross margins.
Key Takeaways
Fastly announced record quarterly revenue of $108.5 million, exceeding the high-end of their guidance range and representing 25% year-over-year growth. GAAP gross margin and non-GAAP gross margin also grew sequentially. The company's portfolio expansion strategy is driving new customer acquisition and increased usage.
Total revenue reached $108.5 million, a 6% sequential increase and 25% year-over-year growth.
GAAP gross margin was 48.6%, compared to 52.4% in the third quarter of 2021.
GAAP net loss was $63.4 million, compared to $56.2 million in the third quarter of 2021.
Total customer count reached 2,925, including 482 enterprise customers.
Fastly
Fastly
Forward Guidance
Fastly provided guidance for Q4 2022 with revenue between $112 million and $116 million, and for the full year 2022 with revenue between $425 million and $429 million.
Positive Outlook
- Q4 2022 Total Revenue: $112 - $116 million
- Full Year 2022 Total Revenue: $425 - $429 million
Challenges Ahead
- Q4 2022 Non-GAAP Operating Loss: ($18.0) - ($14.0) million
- Full Year 2022 Non-GAAP Operating Loss: ($82) - ($78) million
- Q4 2022 Non-GAAP Net Loss per share: ($0.15) - ($0.11)
- Full Year 2022 Non-GAAP Net Loss per share: ($0.67) - ($0.63)