Fastly’s Q3 Earnings – Stock up by 21%

Fastly's stock rallied 21% in the 5 last days post Q3 earnings, revealing a revenue spike of 18% YoY to $127.8M, with a notable margin improvement.
This rise hints at a strong market demand for Fastly's edge cloud services despite the firm's ongoing chase for profitability.
In a competitive edge computing market, Fastly stands out with its continual revenue growth. Yet, the path to profitability remains elusive, a common snag in this fast-evolving sector.
What you need to know:
– Customer Dynamics: Total customer count increased to 3,102, albeit a slight dip in enterprise customers to 547. Enterprise spend saw a 5% QoQ increase, signaling sustained big-customer appeal.
– Product Expansion: Fastly broadened its service scope, with key moves like Domainr acquisition and launching new products like the KV Store and GraphQL Inspection in NGWAF, showcasing a drive for diversified service offerings.
Future Lookout:
Q4 2023 revenue is projected between $137M and $141M, with a year-end revenue aim of $505M to $509M.