Latest: Q3 2026 · from the cash-flow statements filed with the SEC
Free cash flow$29.0M in Q3 2026 · $56.8M over twelve months
Operating cash flow$40.0M
Capital spending−$11.0M
Free cash flow+$29.0M
Cash conversion cycle31 days
Analysis
In Q3 2026, Fastly generated $40.0M of operating cash flow and spent $11.0M on capital projects, leaving free cash flow of $29.0M. That is $6.1M more than in Q3 2025 ($22.9M).
Over the twelve months to Sep 30, 2026, operating cash flow was $131M; the largest uses were capital spending ($73.8M), other investing ($34.5M), other financing ($23.5M); besides operations, cash came from shares issued ($1.6M), asset & business sales ($10K); the cash balance rose by $375K.
Operating cash flow was $40.0M against net income of −$11.3M. The largest differences: stock-based pay +$34.9M, depreciation & amortization +$16.3M, accrued liabilities −$5.2M.
Its cash conversion cycle was 31 days (receivables 56 + inventory 0 − payables 25).
Free cash flow
Operating cash flow less capital spending.Latest (Q3 2026): Operating cash flow $40.0M, Capital spending $11.0M.
Capital allocation, year by year
Over these 5 years operating cash flow totalled $3.1M; the largest uses were net borrowing ($242M) and operating cash flow ($108M). Cash-flow statements as filed.
Cash runway and the debt wall
Cash & investments$365M
Debt$324M
Net cash$40.9M
Fastly funds itself: free cash flow was $56.8M over the last twelve months, and $365M of cash and investments stands against $324M of debt.
Where the cash came from and went
From profit to cash
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
Quarter
Receivable days
Inventory days
Payable days
Cash conversion cycle
Q3 2026
56
—
25
31
Q2 2026
61
—
40
21
Q1 2026
65
—
39
25
Q4 2025
61
—
20
41
Q3 2025
66
—
17
49
Q2 2025
72
—
16
57
Q1 2025
73
—
11
63
Q4 2024
76
—
12
64
Every quarter
Quarter
Operating cash flow
Capital spending
Net borrowing (+) / repaid (−)
Shares issued
Cash drawn (+) / kept (−)
Free cash flow
Q3 2026
$40.0M
−$11.0M
—
$179K
−$23.7M
$29.0M
Q2 2026
$39.3M
−$31.6M
—
$92K
$56.9M
$7.7M
Q1 2026
$28.9M
−$21.0M
−$38.6M
$1.0M
$33.9M
$7.8M
Q4 2025
$22.4M
−$10.2M
—
$286K
−$67.4M
$12.2M
Q3 2025
$28.9M
−$6.0M
−$80K
$71K
−$30.6M
$22.9M
Q2 2025
$25.8M
−$9.9M
—
$279K
$43.0M
$15.9M
Q1 2025
$17.3M
−$2.6M
—
$408K
$161M
$14.7M
Q4 2024
$5.2M
−$5.0M
−$2.6M
$805K
−$68.7M
$251K
Fastly: income statement and cash flow
Fastly, Q3 2026: revenue $190M (+20% year over year), operating margin -5.9%. The chart follows the revenue to costs, profit and cash.
Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.