Fastly, Inc. reported Q2 2024 revenue of $132.4 million, an 8% increase year-over-year. The company incurred a net loss of $43.7 million for the quarter. Gross margin improved to 55%, up from 52% in Q2 2023. Network Services revenue grew 6% YoY to $104.2 million, while Security revenue rose 13% to $25.4 million.The company ended the quarter with 3,295 total customers, including 601 enterprise customers generating 91% of annualized revenue. Fastly's Last-Twelve Months Net Retention Rate was 109.6%. Cash provided by operating activities was $6.2 million for the first half of 2024.Fastly extended its $60 million credit facility to April 2027 and maintained compliance with financial covenants. The company believes its current cash position and cash flow will be sufficient for at least the next 12 months, despite ongoing operating losses. Fastly continues to invest in platform development and international expansion to drive future growth.

Fastly, Inc. reported Q2 2024 revenue of $132.4 million, an 8% increase year-over-year. The company incurred a net loss of $43.7 million for the quarter. Gross margin improved to 55%, up from 52% in Q2 2023. Network Services revenue grew 6% YoY to $104.2 million, while Security revenue rose 13% to $25.4 million.The company ended the quarter with 3,295 total customers, including 601 enterprise customers generating 91% of annualized revenue. Fastly's Last-Twelve Months Net Retention Rate was 109.6%. Cash provided by operating activities was $6.2 million for the first half of 2024.Fastly extended its $60 million credit facility to April 2027 and maintained compliance with financial covenants. The company believes its current cash position and cash flow will be sufficient for at least the next 12 months, despite ongoing operating losses. Fastly continues to invest in platform development and international expansion to drive future growth.