Fastly(FSLY)2025-02-25 23:42Financial Performance - Fastly's Last-Twelve Months Net Retention Rate (LTM NRR) metrics measure revenue growth from existing customers due to increased platform usage and additional product purchases[31]. - As of December 31, 2024, the company had cash, cash equivalents, and marketable securities totaling 138.0 million[88]. - The company employed 1,100 employees worldwide, with 240 located outside the United States as of December 31, 2024[80]. - The research and development team consisted of 389 employees as of December 31, 2024[88]. - A hypothetical 10% change in interest rates would not have had a material impact on the company's consolidated financial statements[100]. - A hypothetical 10% change in foreign exchange rates would not have had a material impact on the consolidated financial statements[460]. Product and Service Offerings - Fastly's Points of Presence (POPs) are architected with robust customized servers, yielding colocation cost savings compared to traditional architectures[35]. - The company has built a fully programmable platform using Varnish Configuration Language (VCL) and flexible APIs, allowing customers to control content caching and end-user request responses[35]. - Fastly Compute enables app developers to build high-performance, personalized applications without managing underlying infrastructure, enhancing scalability and security[56]. - The Instant Purge feature allows customers to clear cached content globally in milliseconds, improving performance for dynamic content delivery[43]. - Fastly's DDoS Protection offers zero attack fee billing, ensuring customers are not charged for attack traffic while providing robust application layer protection[52]. - Fastly's Origin Shield reduces costs and improves performance by collapsing multiple content requests into a single request during high traffic events[43]. - The Advanced Rate Limiting feature helps customers manage high-volume web requests, ensuring legitimate traffic is prioritized while blocking malicious requests[50]. - Fastly's observability offerings provide real-time insights for continuous performance improvements and faster debugging during development[40]. - Fastly's Compute platform offers features like TLS termination, serverless execution, and data access at the edge, enhancing performance and reducing latency for users[57][58][59]. - Fastly's Managed CDN provides maximum control and flexibility, allowing deployment on dedicated POPs within a customer's private network[63]. - Fastly's professional services include real-time logging and actionable insights to optimize performance and user experience for customers[62]. Strategic Initiatives - The acquisition of Glitch, Inc. in May 2022 expanded Fastly's developer community to over 3.1 million registered developers, supporting learning initiatives and code samples[59]. - The company plans to simplify customer onboarding and service usage, with a focus on a unified platform for managing all Fastly services[65]. - Fastly's growth strategy includes expanding into additional vertical markets and increasing wallet-share from existing customers through new products and features[68]. - The company has established partnerships with major cloud providers like Google Cloud and AWS to enhance service offerings and minimize egress fees[71]. - The Fast Forward program supports eligible open source projects by providing free Fastly products, promoting a free and open internet[60]. Compliance and Security - The company supports compliance with regulations such as HIPAA and GDPR, enhancing data privacy and security for customers[55]. - Fastly's Next-Gen WAF launched in Q1 2022 aims to enhance application security across various environments, with ongoing investments in this area[66]. Workforce and Culture - The company focuses on building a global, healthy, and safe workforce with an inclusive culture[79]. - The company has a unique support model designed for developers, with first-line support employees typically having an engineering background[83]. Currency and Financial Exposure - The functional currency of the foreign subsidiaries is the U.S. dollar, exposing the company to foreign exchange rate fluctuations[460]. - Foreign subsidiaries remeasure monetary assets and liabilities at period-end exchange rates, while non-monetary items are remeasured at historical rates[460]. - Revenue and expense accounts are remeasured at the average exchange rate during the period[460]. - The company does not currently engage in hedging activities to reduce potential exposure to currency fluctuations[460].