Filing Flows › Fastly (FSLY) › Q4 2025
Fastly (FSLY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Fastly (FSLY) reported revenue of $173M for the fourth quarter 2025 (Q4 2025), +23% from a year earlier and +9% from the quarter before. Operating margin was -8.7%, net loss $15.5M (9.0% of revenue).
Fastly, Q4 2025: revenue $173M (+23% year over year), operating margin -8.7%, net loss $15.5M, operating cash flow $22.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $173M | +9% | +23% |
| Operating profit | −$15.1M | — | — |
| Net earnings | −$15.5M | — | — |
| Operating cash flow | $22.4M | -22% | +330% |
| Free cash flow | $8.6M | — | — |
What changed
Revenue was $172.6M in Q4 2025, up 23% year over year and up 9% from the previous quarter. Network Services was the largest line at 76% of revenue.
Gross margin was 61.4%, up 8.0 points from a year earlier. Operating costs exceeded revenue by $15.1M, an operating margin of -8.7%. Operating expenses grew 11% against revenue growth of 23%. The fastest-growing cost line was Research & development (+27%). The quarter ended with a net loss of $15.5M, narrower than the previous quarter's $29.5M loss.
Operating cash flow was $22.4M (up 330% year over year). Non-cash charges added back $17.5M of depreciation and amortization and $32.3M of share-based compensation. Working capital and other items used $11.8M. After capital expenditures ($13.8M), free cash flow as the company reports it was $8.6M.
Questions
What was Fastly's revenue in the fourth quarter 2025?
Fastly (FSLY) reported revenue of $173M for the fourth quarter 2025 (Q4 2025), +23% from a year earlier and +9% from the quarter before.
Was Fastly profitable in the fourth quarter 2025?
Operating loss was $15.1M (-8.7% of revenue) and net loss $15.5M.
Source: Fastly 10-K on SEC EDGAR.