Mission Statement, Vision, & Core Values (2024) of Fastly, Inc. (FSLY)

An Overview of Fastly, Inc. (FSLY)

General Summary of Fastly, Inc.

Fastly, Inc. (FSLY) is a leading edge cloud platform that empowers developers to deliver fast, secure, and scalable digital experiences. Founded in 2011, Fastly has established itself as a pivotal player in the Content Delivery Network (CDN) and edge computing markets. The company focuses on providing real-time content delivery and edge cloud services, enhancing user experiences through low-latency solutions.

As of 2024, Fastly offers a range of products and services including:

• Edge Cloud Platform
• Content Delivery Network (CDN)
• Web Application Firewall (WAF)
• Image Optimization
• Real-Time Log Streaming
• Serverless Computing Solutions

In the latest financial reports, Fastly reported total sales of $403.1 million for the nine months ended September 30, 2024, showing a 9% increase from $368.2 million during the same period in 2023.

Company's Financial Performance in the Latest Financial Reports

Fastly's financial performance for the latest reporting period demonstrates significant growth, particularly in revenue. For the three months ended September 30, 2024, the company achieved revenue of $137.2 million, compared to $127.8 million in the same quarter of 2023, marking a 7% increase.

Highlights of Fastly's financial performance include:

For the nine months ended September 30, 2024, Fastly reported a total revenue of $403.1 million, an increase of $34.9 million or 9% compared to $368.2 million in the previous year. The gross profit for this period was $220.9 million, reflecting a 16% increase from $190.6 million in the same timeframe of 2023.

Fastly's revenue growth is driven by its core offerings, with Network Services revenue accounting for 79% of total revenue. Security revenue rose to $76.2 million, a 14% increase from $67.1 million year-over-year.

Introduction to Company as a Leader in the Industry

Fastly is recognized as one of the leading companies in the CDN and edge computing sectors. The company's commitment to innovation and customer satisfaction has positioned it as a preferred choice for enterprises seeking to enhance their digital experiences. Fastly's platform supports a diverse range of industries, including e-commerce, digital media, and software development, showcasing its versatility and strength in a competitive market.

As of 2024, Fastly continues to prioritize investments in technology and infrastructure to maintain its leadership position. The company is actively expanding its customer base and enhancing its product offerings, demonstrating a robust growth strategy that leverages its technical expertise and market presence.

Mission Statement of Fastly, Inc. (FSLY)

Mission Statement of Fastly, Inc. (FSLY)

Fastly, Inc.'s mission is to make the Internet a better place where all experiences are fast, safe, and engaging. The company aims to empower developers to deliver transformative digital experiences on a global scale. This mission statement serves as a guiding principle for the company's long-term goals and operational strategies, emphasizing its commitment to innovation and quality in the digital experience landscape.

Core Component 1: Fast Experiences

Fastly's emphasis on speed is highlighted by its edge cloud platform, which allows for low-latency content delivery. For the three months ended September 30, 2024, Fastly reported revenue of $137.2 million, a 7% increase from $127.8 million in the same period in 2023. This growth is largely attributed to the high demand for fast content delivery solutions, which are critical for e-commerce and real-time applications. The company’s services ensure that approximately 95% of its revenue is driven by usage on its platform, indicating strong customer reliance on its speed capabilities.

Core Component 2: Safe Experiences

Security is a significant focus for Fastly, particularly through its Next-Gen Web Application Firewall (WAF) solutions. For the nine months ending September 30, 2024, Fastly's security revenue reached $76.2 million, representing a 14% increase from $67.1 million in the prior year. This growth reflects the increasing importance of cybersecurity solutions as businesses transition to digital platforms. Fastly aims to provide a secure environment for its customers, which is integral to maintaining trust and reliability in digital interactions.

Core Component 3: Engaging Experiences

Engagement is pivotal to Fastly's mission, as it seeks to enhance the user experience through its edge cloud services. The company supports a variety of applications that enhance interaction, such as content streaming and e-commerce solutions. For the nine months ended September 30, 2024, Fastly’s Network Services revenue was $317.6 million, an 8% increase from $295.3 million in 2023, driven by increased customer engagement on its platform. Fastly's platform is designed to enable developers to create engaging and interactive applications that resonate with users globally.

Fastly’s mission statement reflects its commitment to providing fast, safe, and engaging digital experiences. The company's strategic focus on these core components is evidenced by its financial performance, showcasing growth in revenue and security solutions amid a competitive digital landscape.

Vision Statement of Fastly, Inc. (FSLY)

Vision Statement of Fastly, Inc. (FSLY)

Fastly, Inc. envisions a future where the Internet is a better place characterized by fast, safe, and engaging digital experiences. The company aims to empower developers with the ability to deliver transformative digital experiences globally.

Commitment to Speed

Fastly emphasizes speed as a core component of its vision, aiming to ensure that all digital experiences are delivered with minimal latency. The company's edge cloud platform is designed to provide very low-latency customer experiences, which is essential for e-commerce solutions, content streaming, and real-time data management.

Safety and Security

Fastly's vision also encompasses a commitment to safety and security in digital experiences. The company offers various security solutions, including Next-Gen Web Application Firewall (WAF), which have shown significant revenue growth, reflecting the increasing importance of security in the digital landscape.

Engagement and Innovation

Engagement with developers and fostering innovation is another pillar of Fastly's vision. The company encourages experimentation on its platform, allowing developers to create new solutions and improve existing ones. This engagement is crucial for maintaining a competitive edge and driving industry disruption.

Market Performance Overview

Fastly's revenue for the nine months ended September 30, 2024, reached $403.1 million, representing a 9% increase from $368.2 million in the previous year. This growth underscores the effectiveness of its vision and operational strategy.

Customer Engagement

Fastly maintains a diverse customer base, with a total of 3,638 customers as of September 30, 2024, compared to 3,102 in the previous year. The enterprise customer count, which represents those generating significant revenue, increased from 547 to 576 during the same period.

Conclusion

Fastly's vision for 2024 reflects its commitment to enhancing the Internet experience through speed, safety, and engagement. The company’s financial performance and growth in customer engagement indicate a successful alignment with its vision and operational goals.

Core Values of Fastly, Inc. (FSLY)

Customer Focus

Fastly, Inc. places a strong emphasis on understanding and meeting the needs of its customers. This core value is reflected in the company's commitment to providing exceptional digital experiences through its edge cloud platform.

As of September 30, 2024, Fastly had a total customer count of 3,638, up from 3,102 in the previous year, representing a significant growth in its customer base. The company focuses on expanding its relationships with existing customers, driving their usage of the platform, and ensuring high customer satisfaction.

Fastly's Last-Twelve Months Net Retention Rate (“LTM NRR”) was 105.3% as of September 30, 2024, indicating that existing customers are increasing their spending on the platform. The company's enterprise customer count also grew to 576, which constituted 92% of the total annualized current quarter revenue.

Innovation

Innovation is a cornerstone of Fastly's operations, driving the development of cutting-edge solutions that enhance customer experiences. The company invests heavily in research and development, which totaled $31.9 million for the three months ended September 30, 2024.

Fastly's platform continuously evolves, with enhancements such as Next-Gen Web Application Firewall (WAF) and other security features contributing to a 12% increase in security revenue, amounting to $26.2 million for the same period. The company aims to empower developers to create transformative digital experiences, fueling its innovation strategy.

Integrity

Integrity is vital to Fastly's reputation and success. The company maintains transparency in its operations and financial reporting, which is crucial for building trust with investors and customers alike. For the three months ended September 30, 2024, Fastly reported a net loss of $38.0 million, a reduction from a loss of $54.3 million in the same period of the previous year.

Fastly's commitment to integrity is also evident in its corporate governance practices, ensuring that all stakeholders are treated fairly and ethically. The company has established robust compliance measures to mitigate risks and enhance accountability.

Collaboration

Collaboration is essential to Fastly's operational success, fostering teamwork among employees and with customers. The company promotes a collaborative culture that encourages knowledge sharing and collective problem-solving.

Fastly's workforce has shown growth, with an increase in employees driving the company's initiatives and customer support efforts. The collaborative environment is reflected in the company's strategic partnerships that enhance its service offerings and expand its market reach.

Responsibility

Fastly demonstrates a strong sense of responsibility towards its community and the environment. The company actively engages in sustainability initiatives and aims to minimize its environmental impact.

Fastly has also implemented various employee programs, including a company-wide bonus program that aligns employee performance with corporate objectives. This approach not only motivates employees but also reinforces the company's commitment to responsible business practices.

Updated on 16 Nov 2024

Resources:

1. Fastly, Inc. (FSLY) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Fastly, Inc. (FSLY)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Fastly, Inc. (FSLY)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.