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Sep 30, 2023
Fastly Q3 2023 Earnings Report
Reported record revenue and positive adjusted EBITDA in Q3 2023.
Key Takeaways
Fastly announced record third-quarter revenue of $127.8 million, representing an 18% year-over-year growth. The company is focused on customer acquisition and industry vertical expansion.
Total revenue reached $127.8 million, an 18% increase year-over-year and a 4% sequential increase.
GAAP gross margin was 51.7%, compared to 48.6% in the third quarter of 2022.
GAAP net loss was $54.3 million, compared to $63.4 million in the third quarter of 2022.
LTM Net Retention Rate decreased to 114% in the third quarter from 116% in the second quarter.
Fastly
Fastly
Forward Guidance
Fastly provided guidance for Q4 2023 with revenue between $137 million and $141 million, and for the full year 2023 with revenue between $505 million and $509 million.
Positive Outlook
- Q4 2023 Total Revenue: $137 - $141 million
- Full Year 2023 Total Revenue: $505 - $509 million
- Q4 2023 Non-GAAP Operating Loss: ($10.0) - ($6.0) million
- Full Year 2023 Non-GAAP Operating Loss: ($44.0) - ($40.0) million
- Q4 2023 Non-GAAP Net Loss per share: ($0.05) - ($0.01)
Challenges Ahead
- Q4 2023 Non-GAAP Operating Loss: ($10.0) - ($6.0) million
- Full Year 2023 Non-GAAP Operating Loss: ($44.0) - ($40.0) million
- Q4 2023 Non-GAAP Net Loss per share: ($0.05) - ($0.01)
- Full Year 2023 Non-GAAP Net Loss per share: ($0.23) - ($0.19)
- A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses