Fastly, Inc. (FSLY) reported a 15% year-over-year increase in revenue, totaling $624 million in 2025, driven primarily by usage-based pricing and existing customer expansion. As of the fourth quarter of 2025, the top 10 customers accounted for 34% of revenue, exhibiting a 28% increase year-over-year, highlighting the growing influence of large accounts.
Looking ahead, Fastly projected revenue for 2026 to be between $700 million and $720 million, with non-GAAP earnings anticipated at 23 to 29 cents per share. The company plans to invest 10% to 12% of revenue into infrastructure capital expenditures to expand capacity, particularly in the Asia-Pacific and Japan regions.
Despite an overall positive year, Fastly faces intense competition from established players like Akamai, Alphabet, and Amazon. Additionally, the company anticipates only slight growth in the first quarter of 2026, influenced by seasonal variability and higher infrastructure costs.
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