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Fastly cash flow, quarter by quarter

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

Fastly: free cash flow by quarterFastly: free cash flow by quarter$251KQ4 2024$14.7MQ1 2025$15.9MQ2 2025$22.9MQ3 2025$12.2MQ4 2025$7.8MQ1 2026$7.7MQ2 2026$29.0MQ3 2026
Operating cash flow less capital spending.
Fastly: operating cash flow against capital spendingFastly: operating cash flow against capital spendingOperating cash flowCapital spending$5.2M$5.0MQ4 2024$17.3M$2.6MQ1 2025$25.8M$9.9MQ2 2025$28.9M$6.0MQ3 2025$22.4M$10.2MQ4 2025$28.9M$21.0MQ1 2026$39.3M$31.6MQ2 2026$40.0M$11.0MQ3 2026
Latest (Q3 2026): Operating cash flow $40.0M, Capital spending $11.0M.

Capital allocation, year by year

Fastly: where the cash came from (up) and went (down), by fiscal yearFastly: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow −$38.5MFY2021: Net borrowing $917MFY2021: Shares issued $12.6MFY2021: Asset sales $588KFY2021: Capital spending −$34.8MFY2021: Acquisitions −$1.2M$930MFY2021FY2022: Operating cash flow −$69.6MFY2022: Net borrowing −$200MFY2022: Shares issued $5.7MFY2022: Asset sales $492KFY2022: Capital spending −$20.0MFY2022: Acquisitions −$25.9M$6.2MFY2022FY2023: Operating cash flow $362KFY2023: Net borrowing −$27.2MFY2023: Shares issued $2.2MFY2023: Asset sales $49KFY2023: Capital spending −$11.0M$2.6MFY2023FY2024: Operating cash flow $16.4MFY2024: Net borrowing −$15.0MFY2024: Shares issued $1.1MFY2024: Asset sales $24KFY2024: Capital spending −$10.3M$17.5MFY2024FY2025: Operating cash flow $94.4MFY2025: Net borrowing $178MFY2025: Shares issued $1.0MFY2025: Asset sales $44KFY2025: Capital spending −$28.7M$273MFY2025
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

Fastly: sources (+) and uses (−) of cash, Q3 2026Fastly: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$40.0MCash drawn (+) / kept (−)−$23.7MCapital spending−$11.0MOther investing−$7.8MOther financing$2.3MShares issued$179KExchange rates$18K
Fastly: sources (+) and uses (−) of cash, TTM to Q3 2026Fastly: sources (+) and uses (−) of cash, 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 profit to cash

Fastly: net income to operating cash flow, Q3 2026Fastly: net income to operating cash flow, Q3 2026Net income−$11.3MDepreciation & amortization$16.3MStock-based pay$34.9MDeferred taxes−$395KGains on disposals$134KOther non-cash−$17KReceivables−$1.8MPayables−$3.5MAccrued liabilities−$5.2MPrepaid and other assets$122KOther liabilities$4.2MOperating cash flow$40.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202656—2531
Q2 202661—4021
Q1 202665—3925
Q4 202561—2041
Q3 202566—1749
Q2 202572—1657
Q1 202573—1163
Q4 202476—1264

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash 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.

Fastly: every quarter, Q/Q and Y/Y → Open in the app

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.