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Dec 31, 2023
Fastly Q4 2023 Earnings Report
Fastly's Q4 2023 financial results demonstrated progress in operational and financial rigor, resulting in strong gross margins and non-GAAP net income.
Key Takeaways
Fastly reported record fourth quarter revenue of $137.8 million, representing 15% year-over-year growth. The company's GAAP gross margin was 55.0%, and non-GAAP gross margin was 59.2%. Fastly achieved GAAP net loss of $23.4 million and non-GAAP net income of $1.7 million.
Total revenue reached $137.8 million, a 15% increase year-over-year.
GAAP gross margin improved to 55.0% compared to 52.4% in Q4 2022.
GAAP net loss decreased to $23.4 million from $46.7 million in the same quarter last year.
Non-GAAP net income was $1.7 million, a significant improvement from a non-GAAP net loss of $9.5 million in Q4 2022.
Fastly
Fastly
Fastly Revenue by Segment
Revenue by Segment
Network Services Revenue
CapyFin.comSecurity Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Fastly provided guidance for Q1 2024 with total revenue expected to be between $131 million and $135 million and non-GAAP operating loss between ($14.0) million and ($10.0) million. Full year 2024 total revenue is projected to be between $580 million and $590 million, with non-GAAP operating loss between ($20.0) million and ($14.0) million.
Positive Outlook
- Total revenue is expected to be between $131 million and $135 million for Q1 2024.
- Full year 2024 total revenue is projected to be between $580 million and $590 million.
- Non-GAAP operating loss is expected to be between ($14.0) million and ($10.0) million for Q1 2024.
- Non-GAAP operating loss is projected to be between ($20.0) million and ($14.0) million for the full year 2024.
- Non-GAAP Net Income (Loss) per share is expected to be between ($0.09) and ($0.05) for Q1 2024.
Challenges Ahead
- Non-GAAP Operating Loss (millions) is expected to be between ($14.0) - ($10.0) for Q1 2024.
- Non-GAAP Net Income (Loss) per share is expected to be between ($0.09) - ($0.05) for Q1 2024.
- Total revenue is expected to be between $131 - $135 million for Q1 2024.
- Non-GAAP Operating Loss (millions) is projected to be between ($20.0) - ($14.0) for the full year 2024.
- Non-GAAP Net Income (Loss) per share is projected to be between ($0.06) - $0.00 for the full year 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income