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Fastly (FSLY) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Fastly (FSLY) Q3 2026 earnings results →

Q3 2026 Revenue up 20% year over year to $190M · 6¢ of every $1 of revenue lost · operating margin -5.9%

Fastly made $190M in Q3 2026 (+20% Y/Y). Operating margin -5.9%, net loss $11.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$190M
Year over year+20%
Operating margin-5.9%
Net earnings−$11.3M
Operating cash flow$40.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $190.2M in Q3 2026, up 20% year over year and up 4% from the previous quarter.

Gross margin was 63.3%, up 5.0 points from Q3 2025. Operating costs exceeded revenue by $11.3M, an operating margin of -5.9%. Operating expenses grew 9% against revenue growth of 20%. The fastest-growing cost line was Sales & marketing (+13%). The quarter ended with a net loss of $11.3M, narrower than the previous quarter's $15.6M loss.

Operating cash flow was $40.0M (up 38% year over year). Non-cash charges added back $16.3M of depreciation and amortization and $34.9M of share-based compensation. After capital expenditures ($14.8M), free cash flow as the company reports it was $25.2M.

Quarterly history

Fastly revenue by quarterFastly revenue by quarter$144MQ1 2025$149MQ2 2025$158MQ3 2025$173MQ4 2025$173MQ1 2026$183MQ2 2026$190MQ3 2026
Fastly net earnings by quarterFastly net earnings by quarter−$39.1MQ1 2025−$37.5MQ2 2025−$29.5MQ3 2025−$15.5MQ4 2025−$20.5MQ1 2026−$15.6MQ2 2026−$11.3MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$190M+20%-5.9%−$11.3M$40.0M
Q2 202610-QAug 5, 2026$183M+23%-7.9%−$15.6M$39.3M
Q1 202610-QMay 6, 2026$173M+20%-13.8%−$20.5M$28.9M
Q4 202510-KFeb 25, 2026$173M+23%-8.7%−$15.5M$22.4M
Q3 202510-QNov 7, 2025$158M+15%-18.2%−$29.5M$28.9M
Q2 202510-QAug 6, 2025$149M+12%-24.8%−$37.5M$25.8M
Q1 202510-QMay 7, 2025$144M+8%-26.4%−$39.1M$17.3M

Charts

Fastly: revenue growth, year over year and quarter over quarterFastly: revenue growth, year over year and quarter over quarterY/YQ/Q+8%Q1 2025+12%+3%Q2 2025+15%+6%Q3 2025+23%+9%Q4 2025+20%+0%Q1 2026+23%+6%Q2 2026+20%+4%Q3 2026
Latest (Q3 2026): Y/Y +20%, Q/Q +4%.
Fastly: where the cash came from (+) and went (−), TTM to Q3 2026Fastly: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$131MCapital spending−$73.8MOther investing−$34.5MOther financing−$23.5MShares issued$1.6MCash drawn (+) / kept (−)−$375KExchange rates−$22KAsset & business sales$10K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Fastly: profit against cash, quarter by quarterFastly: profit against cash, quarter by quarterNet incomeOperating cash flow−$32.9M$5.2MQ4 2024−$39.1M$17.3MQ1 2025−$37.5M$25.8MQ2 2025−$29.5M$28.9MQ3 2025−$15.5M$22.4MQ4 2025−$20.5M$28.9MQ1 2026−$15.6M$39.3MQ2 2026−$11.3M$40.0MQ3 2026
Latest (Q3 2026): Net income −$11.3M, Operating cash flow $40.0M.
Fastly: diluted shares by fiscal yearFastly: diluted shares by fiscal year104MFY2020116MFY2021122MFY2022129MFY2023138MFY2024147MFY2025
+41.9% since FY2020: more shares outstanding (issuance, stock pay).
Fastly in its industry: growth against margin (192 companies, SIC 7372)Fastly in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYFSLY (+20%, -6%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Fastly

Organizations around the world are more dependent on the quality of digital experiences they provide than ever before. As the internet approaches an inflection point where automated, artificial intelligence (“AI”)-driven traffic increases demands on infrastructure, Fastly is the essential platform to deliver resilient, highly performant, always-on software and services at global scale. The edge cloud is a category of Infrastructure as a Service (“IaaS”) that enables software engineers to build, secure, and deliver digital experiences at the edge of the Internet.

In its own words, from its 10-K, filed Feb 25, 2026.

Fastly against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +20% against the peers' median +19%. Operating margin: -5.9% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
FSLY FastlyQ3 2026$190M+20%-5.9%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Fastly 10-Q on SEC EDGAR · CIK 1517413 · Services-Prepackaged Software

Guidance and outlook

Fastly: what its forward-looking statements are about (10-Q filed 2026-11-04)Fastly: what its forward-looking statements are about (10-Q filed 2026-11-04)Demand13Other4Costs2Margins2Capital spending2The economy1Products1Legal & regulation1
26 statements; tone +0.15 (−1 all cautious, +1 all confident); 7 hedged.
Fastly: outlook statements against the filing beforeFastly: outlook statements against the filing beforeConfident10Cautious6

13F: who owns FSLY and who is buying

Largest holders of FSLY (13F)Largest holders of FSLY (13F)BlackRock$279MFMR LLC$218MVanguard Portfolio Management LLC$180MVanguard Group$173MCapital World Investors$151MFirst Trust Advisors LP$141MD. E. Shaw$121MVanguard Capital Management LLC$116MTwo Sigma Investments, LP$111MLegal & General Group$80.1M
Funds' net buying of FSLY by quarter (13F)Funds' net buying of FSLY by quarter (13F)$46.9M2024-09−$96.6M2024-12$13.5M2025-03$85.2M2025-06−$37.9M2025-09$125M2025-12$619M2026-03$197M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FSLY

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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