Short answer
Fastly, Inc. (FSLY) filed its fiscal 2025 10-K annual report with the SEC on Feb 25, 2026. It reported revenue of $624M (+14.8% year over year) and net income of −$122M.
- Top risk flagged: Cybersecurity breach risk including regulatory investigations, litigation, fines, business disruptions, customer loss, reputational harm
FY2025 key financial metrics · XBRL
- Revenue
- $624M
- +14.8% YoY
- Net income
- −$122M
- +23.0% YoY
- Operating margin
- -19.1%
- +11.8 pp YoY
- Gross margin
- 57.1%
- +2.6 pp YoY
- EPS (diluted)
- −$0.83
- +27.2% YoY
- ROE
- -13.1%
- +3.3 pp YoY
- Operating cash flow
- $94M
- +475.7% YoY
Source: XBRL data from the Fastly, Inc. (FSLY) FY2025 10-K on SEC EDGAR. USD.
Fastly, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Edge cloud platform delivering performant, resilient, programmable digital experiences and AI-centric services at internet edge scale
- New emphasis on AI workloads and agentic AI traffic management as a distinct growth opportunity within edge cloud platform
- Strategic shift to unify content delivery, edge computing, and advanced security including AI-driven Bot Management and Adaptive Threat Engine
- Platform supports > millions of concurrent live video streams plus Amazon S3-compatible Fastly Object Storage for large files integration
- Unique real-time, AI-backed security features with deception technology and zero-attack-fee DDoS billing enhancing customer protections
Management Discussion & Analysis
- Revenue $624.0M in 2025, up 15% YoY from $543.7M in 2024
- Net loss improved to $121.7M in 2025 from $158.1M in 2024
- LTM Net Retention Rate rose to 110.1% in 2025 from 102.3% in 2024; Annual Revenue Retention Rate stable at ~99%
- Network Services largest segment; specific segment revenue figures not provided
- No precise segment profitability or margin % disclosed; gross margin expected to fluctuate due to network investments
- Cash flow details, buybacks, dividends, or capex amounts not disclosed in MD&A
- Outlook: Continued investment in platform and global expansion; expects rising operating expenses and R&D at ~26% of revenue; risks from geopolitical issues, supply chain, and cyber threats noted
Risk Factors
- Cybersecurity breach risk including regulatory investigations, litigation, fines, business disruptions, customer loss, reputational harm
- Key-person dependency on CISO Marshall Erwin with government and tech cybersecurity experience
- Governance oversight by board includes annual CISO reports on cybersecurity threats and risk management processes
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.