Companies announce plan to deploy high-powered deep learning artificial intelligence software at a massive global scale CAMBRIDGE, Mass., March 12, 2024 /PRNewswire/ -- Akamai Technologies (NASDAQ: AKAM), the cloud company that powers and protects life online, and Neural Magic, a developer of software that accelerates artificial intelligence (AI) workloads, today announced a strategic partnership intended to supercharge deep learning capabilities on Akamai's distributed computing infrastructure. The combin ...

Akamai Technologies, Inc. (AKAM) recently announced that Scaleflex has inked a deal to become an integral part of Akamai Qualified Computing Partner Program for improving digital asset management capabilities for online brands. The endeavor is likely to generate greater customer engagement activities and increase the scope of monetization on the platform.Scaleflex is a visual experience platform that specializes in providing solutions for managing and optimizing digital media assets. The company is known fo ...

Partnership Overview - Akamai Technologies partners with Scaleflex to provide an end-to-end digital asset management solution running on Akamai Connected Cloud [1] - The partnership aims to help customers transform billions of visual assets into countless user experiences [1] - Scaleflex is the first visual experience platform to join the Akamai Qualified Computing Partner Program [1] Scaleflex's Capabilities - Scaleflex leverages Akamai Connected Cloud, including cloud computing and content delivery services, to deliver high-performing images and videos globally [2] - Scaleflex's AI-powered digital asset management system is listed in the Forrester Digital Asset Management Landscape, Q4 2023 [2] - The platform assists in resolving issues related to the upload, organization, and optimization of products and brand assets at scale [2] - Scaleflex's MACH-certified technologies (Micro-services, API first, Cloud-based, Headless) are trusted by leading brands in online retail, travel, real estate, and online news [2] Akamai's Role and Program - Akamai's Qualified Computing Partner Program makes solution-based services interoperable with Akamai cloud computing services easily accessible to customers [3] - The program ensures that services provided by technology partners are readily available to deploy and scale across the globally distributed Akamai Connected Cloud [3] - Akamai Connected Cloud is a massively distributed edge and cloud platform that brings apps and experiences closer to users while keeping threats farther away [5] Company Backgrounds - Scaleflex is a B2B SaaS company focused on simplifying the upload, organization, and optimization of brand assets [4] - Akamai powers and protects life online, helping leading companies worldwide build, deliver, and secure their digital experiences [5]

Financial services sector is now the number one target for DDoS attacks RESTON, Va. and CAMBRIDGE, Mass., March 6, 2024 /PRNewswire/ -- FS-ISAC, the member-driven, not-for-profit organization that advances cybersecurity and resilience in the global financial system, and Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today released new research on the surge of distributed denial-of-service (DDoS) attacks threatening the financial services sector and its cust ...

Akamai Technologies, Inc. (AKAM) recently announced notable additions to its flagship Akamai App & API (Application Programming Interface) Protector product. The cloud company, trusted to enhance online security, launched advanced protection against sophisticated application-layer distributed denial-of-service (DDoS) attacks.Layer 7 DDoS protections are enhanced to monitor and eliminate short DDoS attack bursts and apply client reputation scores for improved rate limiting. An additional URL Protection is al ...

Enhancements include Layer 7 DDoS protections and advanced machine learning CAMBRIDGE, Mass., March 4, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announced significant additions to its flagship Akamai App & API Protector product, including advanced defenses against sophisticated application-layer distributed denial-of-service (DDoS) attacks. The enhanced Layer 7 DDoS protections now precisely detect and mitigate short DDoS att ...

Revenue Performance - Total revenue for 2023 was $3,811.9 million, representing a 5.4% increase compared to 2022, driven primarily by growth in security solutions and the acquisition of Linode[169]. - Security solutions revenue increased to $1,765.3 million in 2023, a 14.5% increase from 2022, while compute solutions revenue grew by 24.4% to $504.2 million[169]. - Delivery solutions revenue decreased by 7.6% to $1,542.4 million in 2023, impacted by pricing effects from contract renewals and moderated traffic growth[169]. - U.S. revenue was $1,968,779, representing a 3.5% increase from $1,902,051 in 2022, while international revenue grew by 7.5% to $1,843,141[172]. - Total revenue for the year ended December 31, 2023, was $3,811,920, an increase of 5.4% from $3,616,654 in 2022[288]. Cost and Expenses - The cost of revenue as a percentage of total revenue increased to 39.6% in 2023 from 38.3% in 2022, indicating rising operational costs[167]. - Total cost of revenue rose to $1,511,063, a 9.2% increase from $1,383,819 in 2022, with co-location fees contributing significantly to this rise[174]. - Research and development expenses accounted for 10.7% of total revenue in 2023, slightly down from 10.8% in 2022[167]. - Research and development expenses totaled $406,048, reflecting a 3.7% increase from $391,434 in 2022, driven by higher payroll and stock-based compensation[180]. - Sales and marketing expenses increased to $533,226, a 6.1% rise from $502,409 in 2022, primarily due to higher payroll and travel expenses[185]. - General and administrative expenses for 2023 increased by 2.8% to $600,851,000 compared to $584,206,000 in 2022[190]. - Payroll and related costs rose to $218,272,000 in 2023, a 2.1% increase from $213,772,000 in 2022[190]. - Stock-based compensation surged by 49.9% to $94,316,000 in 2023 from $62,926,000 in 2022[190]. - The company expects an increase in cost of revenue in 2024, particularly in co-location costs, to support growth in compute solutions[178]. Profitability and Income - Net income for 2023 was $547.6 million, an increase of 4.2% from $523.7 million in 2022[216]. - Non-GAAP net income for 2023 reached $960.0 million, up 11.9% from $857.7 million in 2022[216]. - Basic net income per share increased to $3.59 in 2023 from $3.29 in 2022, representing an increase of 9.1%[288]. - The company reported a net income margin of 14.4% for 2023, slightly down from 14.5% in 2022[224]. - Non-GAAP income from operations for 2023 was $1,135,525, an increase from $1,032,788 in 2022, reflecting a growth of 9.9%[215]. Cash Flow and Financing - Cash provided by operating activities for 2023 was $1.35 billion, an increase from $1.27 billion in 2022, driven by higher profitability[230]. - Net cash provided by financing activities was $443,379 thousand in 2023, a significant increase from $(634,177) thousand in 2022, driven by the issuance of convertible senior notes[235]. - The company issued $1,265.0 million in convertible senior notes in August 2023, with net proceeds used to repay $1,150.0 million of existing notes and for stock repurchases[237]. - Cash used in investing activities increased to $(1,848,238) thousand in 2023 from $(622,310) thousand in 2022, primarily due to increased purchases of marketable securities and property and equipment[232]. - Cash paid for business acquisitions was $(106,171) thousand in 2023, a decrease from $(872,091) thousand in 2022, reflecting the acquisition of Linode in March 2022[232]. Strategic Initiatives and Future Outlook - The company plans to continue investing in security and compute solutions to enhance its product portfolio and drive future revenue growth[153]. - The company expects general and administrative expenses to rise in 2024, particularly payroll and related costs due to mid-year merit increases[191]. - The company plans to continue managing operating margins while investing in growth initiatives, including migrating third-party cloud services to its own solutions[178]. - Global economic conditions, including inflation and geopolitical tensions, are expected to continue impacting the company's business and revenue growth rates[164]. Tax and Regulatory Matters - For the year ended December 31, 2023, the provision for income taxes decreased to $106,373, a 16.0% decline from $126,696 in 2022[200]. - The effective income tax rate for 2023 was 16.3%, down from 19.3% in 2022, primarily due to foreign income taxed at lower rates and U.S. research and development credits[201]. - The company anticipates that the effective income tax rate will increase due to the enactment of a 15% global minimum corporate tax rate starting in 2024[203]. Investments and Assets - Total assets increased to $9,900,037 in 2023, up from $8,303,400 in 2022, marking a growth of 19.2%[286]. - The company held $2.3 billion in cash, cash equivalents, and marketable securities as of December 31, 2023[227]. - The company capitalized $77.0 million in internal-use software development costs in 2023, up from $30.0 million in 2022[182]. - The company has net deferred tax assets, including net operating loss carryforwards and tax credit carryforwards, which are subject to management's estimates and judgments[258]. Stock and Shareholder Information - The company repurchased 7.8 million shares of common stock in 2023 at an average price of $83.83 per share, compared to 6.4 million shares at $94.96 in 2022[236]. - The total number of common stock shares outstanding decreased from 160,512,111 in 2021 to 151,232,908 in 2023, reflecting stock repurchases[303]. - Stock-based compensation increased significantly to $328.5 million in 2023, compared to $217.2 million in 2022, reflecting a 51.3% rise[224].

Akamai Guardicore Segmentation is available first to public-cloud customers via Microsoft Azure MarketplaceCAMBRIDGE, Mass., Feb. 27, 2024 /PRNewswire/ -- Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announced that it is extending its industry-leading segmentation solution, Akamai Guardicore Segmentation, to hybrid cloud environments. Extending Akamai Guardicore Segmentation to the cloud helps reduce attack surfaces and helps contain attacks targeti ...

Akamai Technologies, Inc. (AKAM) reported modest fourth-quarter 2023 results, with the bottom surpassing the Zacks Consensus Estimate but the top line missing the same. The company recorded higher revenues year over year, driven by solid momentum in security and compute verticals. Growing adoption of API security solutions in various industries and healthy demand for Akamai Connected Cloud drove the top line.Net IncomeGAAP net income improved to $161.2 million or $1.03 per share from $128.8 million or 82 ce ...

Akamai Technologies, Inc. (NASDAQ:AKAM) Q4 2023 Earnings Conference Call February 13, 2024 4:30 PM ET Company Participants Tom Barth - Investor Relations Tom Leighton - Chief Executive Officer Ed McGowan - Chief Financial Officer Conference Call Participants Fatima Boolani - Citi Frank Louthan - Raymond James James Fish - Piper Sandler Keith Weiss - Morgan Stanley Mark Murphy - JPMorgan Madeline Brooks - Bank of America Rishi Jaluria - RBC Michael Elias - TD Cowen Raymond McDonough - Guggenheim Securities T ...