Fastly, Inc. — Form 8-K
Filed November 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 58/100
What the filing says
Fastly reported Q3 2026 revenue of $190.2 million (+20% YoY), with GAAP gross margin 63.3% and non-GAAP gross margin 65.8%. Non-GAAP operating income was $31.2 million ($31.6 million net income; $0.20 diluted EPS). LTM net retention rate reached 119% (highest since 2022). RPO grew 24% to $334 million. The company guides Q4 2026 revenue to $198–$202 million and FY2026 to $744–$748 million, with non-GAAP operating income of $30–$34 million (Q4) and $107–$111 million (FY). Free cash flow was $25.2 million in Q3, up from $18.1 million YoY. No major M&A, financing, or leadership changes announced; Tricia Yankovich appointed Chief People Officer.
Why this rating
Solid execution: revenue +20% YoY, NRR 119%, improving margins, positive FCF. Relative to $1B market cap, quarterly revenue of $190M is ~7.6% run-rate of cap; improvement is real but not transformational. Profitable path emerging (non-GAAP), but still GAAP-unprofitable. Growth steady, not accelerating.
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