Fastly Q4 2023 Earnings Report
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
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.