Fastly reported Q2 2024 revenue of $132.4 million, an 8% increase year-over-year, driven by growth in Network Services and Security revenue. The company's enterprise customer base expanded to 601, generating 91% of total revenue. Gross margin improved to 55% from 52% in the prior year period.The company recorded a net loss of $43.7 million compared to $10.7 million in Q2 2023, primarily due to increased operating expenses and the absence of a one-time debt extinguishment gain recorded in the prior year. Operating expenses rose 5% to $119.6 million, including a $3.1 million impairment charge related to abandoned internal-use software and right-of-use assets.Looking ahead, Fastly continues to focus on expanding its edge cloud platform capabilities and customer base. The company maintained strong liquidity with $311.8 million in cash and marketable securities as of June 30, 2024. Network Services revenue grew 6% to $104.2 million, while Security revenue increased 13% to $25.4 million year-over-year.

Fastly reported Q2 2024 revenue of $132.4 million, an 8% increase year-over-year, driven by growth in Network Services and Security revenue. The company's enterprise customer base expanded to 601, generating 91% of total revenue. Gross margin improved to 55% from 52% in the prior year period.The company recorded a net loss of $43.7 million compared to $10.7 million in Q2 2023, primarily due to increased operating expenses and the absence of a one-time debt extinguishment gain recorded in the prior year. Operating expenses rose 5% to $119.6 million, including a $3.1 million impairment charge related to abandoned internal-use software and right-of-use assets.Looking ahead, Fastly continues to focus on expanding its edge cloud platform capabilities and customer base. The company maintained strong liquidity with $311.8 million in cash and marketable securities as of June 30, 2024. Network Services revenue grew 6% to $104.2 million, while Security revenue increased 13% to $25.4 million year-over-year.