Q1 26 EPS
$0.13
BEAT +50.29%
Est. $0.09
Q1 26 Revenue
$173.0M
BEAT +0.72%
Est. $171.8M
vs S&P Since Q1 26
-45.6%
TRAILING MARKET
FSLY -43.8% vs S&P +1.8%
Market Reaction
Did FSLY Beat Earnings? Q1 2026 Results
Fastly, Inc. Delivered a standout first quarter for fiscal 2026, posting earnings per share of $0.13 against a consensus estimate of $0.09, a beat of 50.29% that extends the company's winning streak to four consecutive quarters of topping EPS expecta… Read more Fastly, Inc. Delivered a standout first quarter for fiscal 2026, posting earnings per share of $0.13 against a consensus estimate of $0.09, a beat of 50.29% that extends the company's winning streak to four consecutive quarters of topping EPS expectations. Revenue of $173.02 million grew 19.8% year over year, edging past the $171.78 million consensus, as a surging security business, up 47% year over year to $38.80 million, emerged as the clearest engine of outperformance. The security segment's expansion helped drive a dramatic improvement in margins, with non-GAAP gross margin widening to 65.1% from 57.3% a year ago and adjusted EBITDA nearly quadrupling to $29.46 million, reflecting the operating leverage Fastly has been building. Remaining Performance Obligations climbed 63% year over year to $369.00 million, pointing to durable demand ahead. Management translated that confidence into raised full-year 2026 guidance, now projecting revenue of $710.00 million to $725.00 million and non-GAAP EPS of $0.27 to $0.33, while targeting Q2 revenue of $170.00 million to $176.00 million.
Key Takeaways
- • 47% year-over-year security revenue growth
- • GAAP gross margin expansion to 62.5% from 53.2% year over year
- • Non-GAAP gross margin improvement to 65.1% from 57.3%
- • LTM net retention rate increased to 113% from 110% in Q4 2025
- • RPO growth of 63% year over year to $369 million
- • Top ten customers revenue grew 25% year over year
- • Large customer count grew to 634, up 39 from Q1 2025
FSLY Forward Guidance & Outlook
Fastly raised its full-year 2026 guidance. For Q2 2026, the company expects total revenue of $170.0 million to $176.0 million, non-GAAP operating income of $12.0 million to $16.0 million, and non-GAAP net income per share of $0.05 to $0.08. For full-year 2026, the company expects total revenue of $710.0 million to $725.0 million, non-GAAP operating income of $58.0 million to $68.0 million, and non-GAAP net income per share of $0.27 to $0.33. Full-year guidance assumes weighted average diluted shares outstanding of approximately 182.0 million.
FSLY YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
FSLY Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter performance demonstrates continued discipline and velocity as we delivered record revenue, gross margin, and RPO. Driven by an accelerated innovation roadmap, we delivered 47% year-over-year security revenue growth. This performance reflects expansion within our installed base and robust new business wins, enabling us to raise our 2026 guidance.”
— Kip Compton, Q1 2026 Earnings Press Release
FSLY Earnings Trends
FSLY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FSLY EPS Trend
Earnings per share: estimate vs actual
FSLY Revenue Trend
Quarterly revenue: estimate vs actual
FSLY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.09 | $0.13 | +50.29% | $173.0M | +0.72% |
| Q4 25 BEAT FY | $0.06 | $0.12 | +109.06% | $172.6M | +6.97% |
| FY Full Year | $0.06 | $0.13 | +135.93% | $624.0M | +1.83% |
| Q3 25 BEAT | $0.00 | $0.07 | +34,900.00% | $158.2M | +4.76% |
| Q2 25 BEAT | $-0.05 | $-0.03 | +42.75% | $148.7M | +2.66% |
| Q1 25 BEAT | $-0.06 | $-0.05 | +19.61% | $144.5M | +4.39% |