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[Second Quarter 2025 Financial Results](index=1&type=section&id=AKAMAI%20REPORTS%20SECOND%20QUARTER%202025%20FINANCIAL%20RESULTS) This section details Akamai's strong Q2 2025 financial performance, exceeding expectations and leading to raised full-year guidance [Performance Summary](index=1&type=section&id=Performance%20Summary) Akamai reported strong Q2 2025 results, exceeding revenue and profitability expectations. Total revenue grew 7% year-over-year to $1.043 billion, driven by significant growth in Security (+11%) and Cloud Computing (+13%), particularly Cloud Infrastructure Services which surged 30%. This performance led the company to raise its full-year guidance for both revenue and earnings. Non-GAAP net income per diluted share increased by 9% to $1.73 Q2 2025 Key Financial Highlights (YoY) | Metric | Q2 2025 | Growth (YoY) | Growth (YoY, Constant Currency) | | :--- | :--- | :--- | :--- | | **Total Revenue** | $1.043 billion | 7% | 6% | | **Cloud Infrastructure Services Revenue** | $71 million | 30% | 29% | | **GAAP Net Income per Diluted Share** | $0.71 | -17% | -18% | | **Non-GAAP Net Income per Diluted Share** | $1.73 | 9% | 9% | - CEO Tom Leighton highlighted strong momentum, leading to increased full-year guidance. He emphasized that investments in security and cloud computing are paying off and sees AI as a strong tailwind for the business[2](index=2&type=chunk) Q2 2025 Revenue Breakdown (YoY, Constant Currency) | Revenue by Solution | Amount | Growth (YoY, CC) | | :--- | :--- | :--- | | Security | $552 million | 10% | | Delivery | $320 million | -4% | | Cloud Computing | $171 million | 13% | | **Revenue by Geography** | **Amount** | **Growth (YoY, CC)** | | U.S. | $528 million | 4% | | International | $516 million | 8% | - The company executed **$300 million** in share repurchases during the quarter, buying back **3.9 million shares** at an average price of **$77.51**[6](index=6&type=chunk) [Financial Guidance](index=2&type=section&id=Financial%20guidance) Akamai has raised its financial outlook for the remainder of the year. For the third quarter of 2025, the company projects revenue between $1.035 billion and $1.050 billion, with non-GAAP EPS of $1.62 to $1.66. For the full year 2025, revenue is now expected to be in the range of $4.135 billion to $4.205 billion, with non-GAAP EPS between $6.60 and $6.80 Q3 and Full Year 2025 Financial Guidance | Guidance Metric | Q3 2025 | Full Year 2025 | | :--- | :--- | :--- | | **Revenue** | $1,035M - $1,050M | $4,135M - $4,205M | | **Non-GAAP Operating Margin** | 28% | 29% | | **Non-GAAP EPS** | $1.62 - $1.66 | $6.60 - $6.80 | [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents Akamai's condensed consolidated balance sheets, income statements, and cash flow statements [Condensed Consolidated Balance Sheets](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of June 30, 2025, Akamai's balance sheet shows total assets of $10.54 billion, a slight increase from $10.37 billion at year-end 2024. Key changes include a decrease in marketable securities and a significant increase in convertible senior notes, reflecting financing activities during the period. Total stockholders' equity decreased from $4.88 billion to $4.47 billion Balance Sheet Summary (as of June 30, 2025) | Account | June 30, 2025 (in thousands) | Dec 31, 2024 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $2,033,827 | $2,578,097 | | **Total Assets** | $10,536,135 | $10,368,785 | | **Total Current Liabilities** | $880,519 | $2,091,323 | | **Convertible senior notes (non-current)** | $4,100,977 | $2,396,695 | | **Total Liabilities** | $6,068,627 | $5,490,428 | | **Total Stockholders' Equity** | $4,467,508 | $4,878,357 | [Condensed Consolidated Statements of Income](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME) For the three months ended June 30, 2025, Akamai generated revenue of $1.043 billion, up from $980 million in the prior year period. However, due to higher operating expenses and a larger provision for income taxes, GAAP net income decreased to $104 million from $132 million year-over-year, resulting in a GAAP diluted EPS of $0.71 compared to $0.86 Income Statement Highlights (Three Months Ended June 30) | Metric (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | **Revenue** | $1,043,494 | $979,580 | | **Income from Operations** | $151,461 | $147,986 | | **Net Income** | $103,618 | $131,688 | | **Diluted EPS** | $0.71 | $0.86 | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) In the second quarter of 2025, Akamai generated strong net cash from operating activities of $459 million. Investing activities resulted in a net cash outflow of $683 million, primarily due to purchases of property, equipment, and marketable securities. Financing activities showed a net cash outflow of $41 million, driven by $300 million in common stock repurchases, offset by proceeds from the issuance of new convertible senior notes and related transactions Cash Flow Summary (Three Months Ended June 30, 2025) | Activity (in thousands) | Q2 2025 | | :--- | :--- | | **Net cash provided by operating activities** | $459,149 | | **Net cash used in investing activities** | ($682,866) | | **Net cash used in financing activities** | ($41,205) | [Supplemental Financial Data](index=8&type=section&id=Supplemental%20Financial%20Data) This section provides additional detailed breakdowns of revenue by solution and geography, along with other key operational metrics [Revenue by Solution](index=8&type=section&id=SUPPLEMENTAL%20REVENUE%20DATA%20%E2%80%93%20REVENUE%20BY%20SOLUTION) In Q2 2025, Security revenue grew 11% year-over-year to $552 million, and Cloud Computing revenue increased 13% to $171 million. Conversely, Delivery revenue continued its decline, falling 3% to $320 million. On a constant currency basis, Security grew 10% while Delivery declined 4% Q2 2025 Revenue by Solution (YoY Growth) | Solution | Revenue (in thousands) | YoY Growth | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | **Security** | $551,914 | 11% | 10% | | **Delivery** | $320,125 | -3% | -4% | | **Cloud computing** | $171,455 | 13% | 13% | [Revenue by Geography](index=8&type=section&id=SUPPLEMENTAL%20REVENUE%20DATA%20%E2%80%93%20REVENUE%20BY%20GEOGRAPHY) Geographically, International revenue growth outpaced U.S. growth in Q2 2025. International revenue grew 10% year-over-year (8% in constant currency) to $516 million, while U.S. revenue grew 4% to $528 million Q2 2025 Revenue by Geography (YoY Growth) | Geography | Revenue (in thousands) | YoY Growth | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | **U.S.** | $527,607 | 4% | 4% | | **International** | $515,887 | 10% | 8% | [Other Supplemental Data](index=9&type=section&id=OTHER%20SUPPLEMENTAL%20DATA) This section provides detailed breakdowns of key operational and financial metrics. For Q2 2025, total stock-based compensation was $112.8 million. Total capital expenditures on an accrual basis were $214.2 million, representing 21% of revenue for the quarter. The company's employee count stood at 10,944 at the end of the period - Total stock-based compensation for Q2 2025 was **$112.8 million**, an increase from **$98.5 million** in Q2 2024[17](index=17&type=chunk) - Total capital expenditures (accrual basis) were **$214.2 million** in Q2 2025, equivalent to **21% of revenue**, up from **17% of revenue** in the prior year quarter[17](index=17&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) This section reconciles GAAP financial results to non-GAAP measures for income from operations, net income, and diluted earnings per share [Reconciliation of Income from Operations and Net Income](index=10&type=section&id=RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20INCOME%20FROM%20OPERATIONS%2C%20NET%20INCOME%20AND%20TAX%20RATE) For Q2 2025, Akamai's GAAP income from operations was $151.5 million. After adjusting for items such as stock-based compensation ($112.8 million) and amortization of acquired intangible assets ($27.7 million), the non-GAAP income from operations was $308.6 million. Similarly, GAAP net income of $103.6 million was reconciled to a non-GAAP net income of $251.4 million Q2 2025 GAAP to Non-GAAP Reconciliation (in thousands) | Metric | GAAP | Key Adjustments | Non-GAAP | | :--- | :--- | :--- | :--- | | **Income from Operations** | $151,461 | +$157,162 | $308,623 | | **Operating Margin** | 15% | | 30% | | **Net Income** | $103,618 | +$147,738 | $251,356 | [Reconciliation of Net Income per Diluted Share](index=11&type=section&id=RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20NET%20INCOME%20PER%20DILUTED%20SHARE) The company's GAAP net income per diluted share of $0.71 for Q2 2025 is reconciled to a non-GAAP figure of $1.73. The primary adjustments adding back to the EPS were stock-based compensation ($0.78) and amortization of acquired intangible assets ($0.19), partially offset by tax effects - GAAP EPS of **$0.71** was adjusted upwards by a net **$1.02** to arrive at a Non-GAAP EPS of **$1.73** for Q2 2025. The largest positive adjustment was for stock-based compensation, contributing **$0.78 per share**[20](index=20&type=chunk) [Reconciliation of Net Income to Adjusted EBITDA](index=12&type=section&id=RECONCILIATION%20OF%20GAAP%20NET%20INCOME%20TO%20ADJUSTED%20EBITDA) Akamai's Adjusted EBITDA for Q2 2025 was $444.4 million, representing an Adjusted EBITDA margin of 43%. This was derived from a GAAP net income of $103.6 million by adding back items including depreciation and amortization ($135.8 million), stock-based compensation ($112.8 million), and provision for income taxes ($48.3 million) Q2 2025 Net Income to Adjusted EBITDA Reconciliation (in thousands) | Metric | Amount | | :--- | :--- | | **Net Income (GAAP)** | $103,618 | | **Adjustments (Taxes, Interest, D&A, Stock Comp, etc.)** | +$340,762 | | **Adjusted EBITDA** | $444,380 | | **Adjusted EBITDA Margin** | 43% | [Non-GAAP Financial Measures and Forward-Looking Statements](index=13&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Forward-Looking%20Statements) This section explains the company's use of non-GAAP financial measures and provides a safe harbor statement regarding forward-looking information [Use and Definition of Non-GAAP Financial Measures](index=13&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) Akamai utilizes non-GAAP financial measures to supplement its GAAP results, believing they provide a better understanding of ongoing business performance and facilitate comparisons across periods. These measures exclude items that may be infrequent or not reflective of core operations - Management uses non-GAAP measures for operational decision-making, planning, and evaluating financial performance[23](index=23&type=chunk) - Key adjustments to derive non-GAAP figures include excluding: - Amortization of acquired intangible assets - Stock-based compensation - Acquisition-related costs - Restructuring charges - Amortization of debt issuance costs[26](index=26&type=chunk)[36](index=36&type=chunk) [Safe Harbor Statement](index=15&type=section&id=Akamai%20Statement%20Under%20the%20Private%20Securities%20Litigation%20Reform%20Act) This section serves as a safe harbor statement, cautioning that the press release contains forward-looking statements, including financial guidance, which are subject to various risks and uncertainties. It warns that actual results could differ materially from expectations due to factors like economic trends, competition, geopolitical events, and other risks detailed in SEC filings - The release contains forward-looking statements regarding future financial performance and prospects, which are not guarantees of future results[41](index=41&type=chunk) - Key risks that could impact results include macroeconomic trends, competition, geopolitical instability, supply chain issues, and the ability to integrate acquisitions[41](index=41&type=chunk) - Akamai disclaims any obligation to update these forward-looking statements in the future[42](index=42&type=chunk)

Core Insights - Akamai Technologies reported a second quarter revenue of $1.043 billion, representing a 7% year-over-year increase and a 6% increase when adjusted for foreign exchange [1][2] - The company experienced significant growth in its Cloud Infrastructure Services, with revenue reaching $71 million, up 30% year-over-year and 29% when adjusted for foreign exchange [1][2] - GAAP net income per diluted share was $0.71, down 17% year-over-year, while non-GAAP net income per diluted share was $1.73, up 9% year-over-year [1][4] Financial Performance - Revenue for the second quarter was $1.043 billion, a 7% increase from $980 million in the same quarter of 2024 [2] - GAAP income from operations was $151 million, a 2% increase from the previous year, with a GAAP operating margin of 15% [3] - Non-GAAP income from operations was $309 million, a 10% increase year-over-year, with a non-GAAP operating margin of 30%, up 1 percentage point from the previous year [3][4] Income and Earnings - GAAP net income was $104 million, a 21% decrease from the second quarter of 2024, while non-GAAP net income was $251 million, up 4% year-over-year [4] - Adjusted EBITDA was $444 million, reflecting a 9% increase from the same quarter in 2024 [4] Cash Flow and Share Repurchases - Cash from operations for the second quarter was $459 million, representing 44% of revenue [5] - The company repurchased $300 million worth of its common stock, acquiring 3.9 million shares at an average price of $77.51 per share [5] Revenue Guidance - For the third quarter and full year 2025, Akamai expects security revenue to be $552 million, up 11% year-over-year, while delivery revenue is projected to be $320 million, down 3% year-over-year [6] - Cloud computing revenue is anticipated to reach $171 million, up 13% year-over-year, with U.S. revenue expected to be $528 million, up 4% year-over-year [6] Revenue Breakdown - Security revenue for the second quarter was $551.9 million, up 11% year-over-year, while delivery revenue was $320.1 million, down 3% [18] - Cloud computing revenue was $171.5 million, reflecting a 13% increase year-over-year [18] - U.S. revenue was $527.6 million, up 4% year-over-year, and international revenue was $515.9 million, up 10% year-over-year [19]

Group 1 - The core viewpoint of the article is that Akamai (AKAM.US) has had its MSCI ESG rating upgraded from AA to AAA as of August 6, 2025 [1] Group 2 - The upgrade reflects an improvement in the company's environmental, social, and governance practices [1] - The MSCI ESG rating is a widely recognized benchmark for assessing companies' sustainability performance [1] - This upgrade may enhance Akamai's attractiveness to socially responsible investors [1]

Core Insights - Akamai Technologies, Inc. (AKAM) is set to release its second-quarter 2025 results on August 7, with expectations of higher revenues year over year due to strong demand in security and compute verticals [1][9] - The company achieved an earnings surprise of 7.6% in the last quarter and has a trailing four-quarter average earnings surprise of 4.8% [1] Factors at Play - Akamai announced that Devsisters Inc. will utilize its Akamai Cloud platform to enhance its global game services infrastructure, aiming for improved deployment and scaling for new game releases [2] - A strategic partnership with Cloudinary was formed to integrate AI-powered video solutions into Akamai Video Manager, addressing common video management challenges [3] - Collaboration with FPT aims to assist customers in building and optimizing distributed cloud applications on Akamai Cloud, likely generating incremental revenues [3] Product Launches and Innovations - Akamai launched Firewall for AI, providing multilayered protection for AI applications against various threats [4] - The introduction of App & API Protector Hybrid enhances security for applications and APIs, while Akamai API Security features were upgraded to counter evolving threats [4] - The launch of Akamai DNS Posture Management offers unified visibility over DNS assets, enabling real-time monitoring and remediation of security risks [5] Revenue Expectations - Revenue estimates for the security segment are projected at $553 million, reflecting a 10.9% year-over-year growth [6] - The compute vertical is expected to generate $165.7 million, indicating a 9.4% improvement year over year [6] - Delivery segment revenues are anticipated to decline by 8.4%, projected at $301.6 million [6] Overall Financial Projections - The Zacks Consensus Estimate for total revenues in Q2 is $1.02 billion, up from $980 million year over year [7] - The consensus estimate for adjusted earnings per share is $1.55, down from $1.58 reported a year ago [7]

Core Insights - Aqua Security and Akamai Technologies have formed a strategic partnership to provide integrated security solutions for AI applications, ensuring protection from the AI workload to the edge [1][2][3] - The collaboration combines Aqua's Secure AI runtime protection with Akamai's Firewall for AI, addressing security challenges such as prompt injection and data exfiltration [2][3] - The joint solution enables enterprises to monitor AI interactions, enforce security policies, and protect against emerging threats without requiring code changes or infrastructure modifications [3][4] Company Overview - Aqua Security specializes in cloud native application protection, offering full lifecycle security for AI workloads and container environments [6] - Akamai Technologies is a leader in edge and application security, providing solutions that enhance digital experiences while mitigating online threats [8] Key Capabilities of the Joint Solution - AI Model and Agentic Service Discovery: Identifies and tracks AI models and services across environments, monitoring prompt-related traffic [7] - Prompt Defense: Detects and mitigates threats such as prompt injection and sensitive data exposure in real time [7] - AI Workload Protection: Monitors runtime behavior to detect anomalies and prevent attacks like remote code execution and model tampering [7] - Model-Aware Behavior Profiling: Establishes behavioral baselines for AI workloads to identify deviations indicating potential compromise [7] - Frictionless Deployment: Ensures protection of AI workloads without the need for code changes or infrastructure modifications [7]

Core Insights - The Akamai report highlights the emergence of a new quadruple extortion tactic in ransomware campaigns, alongside the continued prevalence of double extortion methods [1][2] - Quadruple extortion involves using distributed denial-of-service (DDoS) attacks and harassing third parties to increase pressure on victims, building on the existing double extortion strategy [2][3] - The report emphasizes that ransomware threats have evolved beyond mere data encryption, now incorporating stolen data, public exposure, and service outages to create significant business crises for organizations [3] Industry Trends - The report discusses the current state of legal and regulatory frameworks affecting organizational responses to ransomware, noting that while existing laws apply, specific regulations aim to discourage ransom payments [3] - Akamai stresses the importance of robust cybersecurity measures, incident reporting, and risk management strategies, such as Zero Trust and microsegmentation, to enhance resilience against ransomware threats [3] Emerging Threats - The report identifies that generative AI and large language models (LLMs) are facilitating the rise in frequency and scale of ransomware attacks, enabling less technically skilled individuals to launch sophisticated campaigns [6] - Hacktivist groups are increasingly utilizing ransomware as a service (RaaS) platforms, with a shift in focus from major corporations to smaller organizations with weaker security [6] - Cryptomining attacks are also on the rise, with nearly half targeting nonprofit and educational organizations due to their limited resources [6] - The TrickBot malware family has extorted over US$724 million in cryptocurrency from victims since 2016, indicating the ongoing threat posed by established malware families [6]

Company Overview - Akamai Technologies (AKAM) closed at $79.71, reflecting a -1.29% change from the previous day, underperforming the S&P 500's 0.02% gain [1] - The stock has increased by 1.44% over the past month, which is lower than the Computer and Technology sector's gain of 6.31% and the S&P 500's gain of 4.93% [1] Earnings Expectations - The upcoming earnings report is scheduled for August 7, 2025, with an expected EPS of $1.55, a decrease of 1.9% from the same quarter last year [2] - Quarterly revenue is anticipated to be $1.02 billion, representing a 4.26% increase from the previous year [2] Annual Performance Estimates - For the annual period, the Zacks Consensus Estimates project earnings of $6.27 per share and revenue of $4.12 billion, indicating changes of -3.24% and +3.31% respectively from the last year [3] - Recent adjustments to analyst estimates are crucial as they reflect short-term business trends, with positive revisions indicating analyst optimism [3] Valuation Metrics - Akamai Technologies is currently trading at a Forward P/E ratio of 12.88, which is a discount compared to its industry's Forward P/E of 20.42 [6] - The company has a PEG ratio of 1.61, aligning with the Internet - Services industry's average PEG ratio of 1.61 [6] Industry Context - The Internet - Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 192, placing it in the bottom 23% of over 250 industries [7] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Insights - The article discusses the challenges and solutions faced by Chinese e-commerce companies in the context of global competition and the rise of live streaming sales, emphasizing the need for robust cloud infrastructure to support these demands [1][6]. Group 1: E-commerce Globalization and Technical Challenges - The e-commerce industry is experiencing a surge in user interaction during live streaming, making low latency and high elasticity critical for revenue generation. A delay increase from 1 second to 3 seconds can lead to a 32% rise in bounce rates, while a 100-millisecond reduction in resource loading time can enhance conversion rates by 8.4% [2][4]. - Major sales events like "Double Eleven" and "6·18" create unpredictable spikes in user traffic, leading to resource over-provisioning and potential cost wastage. Therefore, reducing network latency and enhancing elastic scaling capabilities are urgent priorities [2][4]. Group 2: AI Integration and Security Risks - The integration of AI in e-commerce is improving efficiency but also introduces new security challenges, such as potential data leaks and denial-of-service attacks. Protecting AI models is essential due to their vulnerability [4][6]. - The trend towards high-definition and interactive live streaming is driving the rapid rise of Video Processing Units (VPU), which offer significant advantages in video transcoding efficiency, environmental sustainability, and accessibility for smaller e-commerce players [4][6]. Group 3: Akamai's Solutions and Product Offerings - Akamai is addressing the complex challenges in the e-commerce sector by leveraging its global network infrastructure to provide targeted solutions, including a public cloud built on the principles of simplicity, network-first approach, and open-source [6][8]. - Akamai has expanded its global core nodes from 11 to 42 within three years, enhancing its ability to tackle low latency issues through a robust Content Delivery Network (CDN) [8]. - The company has launched three key product lines: a cloud-native Kubernetes (K8S) product line to simplify deployment, a virtual machine product line including the environmentally friendly VPU, and the TrafficPeak log analysis platform to manage high traffic during peak sales events [9][10]. Group 4: Future of E-commerce - The future of e-commerce will hinge on user experience, which is determined by a combination of latency, security, and cost factors. The ability to simplify complex technologies into user-friendly services will be crucial for e-commerce companies [10].

Company Performance - Akamai Technologies (AKAM) closed at $77.93, with a daily increase of +1.16%, outperforming the S&P 500's gain of 0.54% [1] - Over the last month, Akamai's shares decreased by 2.11%, while the Computer and Technology sector gained 5.77% and the S&P 500 gained 4.2% [1] Upcoming Earnings Report - Akamai is scheduled to release its earnings on August 7, 2025, with an anticipated EPS of $1.55, reflecting a 1.9% decline from the same quarter last year [2] - The consensus estimate for revenue is $1.02 billion, indicating a 4.26% increase compared to the same quarter of the previous year [2] Fiscal Year Estimates - For the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.27 per share and revenue of $4.12 billion, showing changes of -3.24% and +3.31% respectively from the previous year [3] Analyst Estimates and Stock Performance - Recent modifications to analyst estimates for Akamai are important as they reflect short-term business trends [4] - Positive estimate revisions indicate analyst optimism about the business and profitability [4] Zacks Rank and Stock Valuation - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Akamai at 4 (Sell) [6] - The Zacks Consensus EPS estimate has decreased by 0.05% over the past month [6] - Akamai is trading at a Forward P/E ratio of 12.28, which is a discount compared to its industry's Forward P/E of 19.88 [7] PEG Ratio - Akamai has a PEG ratio of 1.54, which is in line with the average PEG ratio for the Internet - Services industry [8] Industry Overview - The Internet - Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 73, placing it in the top 30% of over 250 industries [9] - The Zacks Industry Rank assesses the strength of industry groups based on the average Zacks Rank of individual stocks [9]