Fastly (FSLY) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Fastly published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Fastly reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Fastly's product revenue figures (Network Services, Security, Other) come from its Q3 2026 investor supplement, which prints them in millions with one decimal, so they sum to $190.1 million against total revenue of $190.2 million.
• Starting with Q1 2026, Fastly's non-GAAP measures also exclude employer payroll taxes on stock-based compensation. Fastly did not recast prior periods, citing the immaterial amount.

Source: Fastly Q3 2026 results (Form 8-K, Exhibit 99.1), November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Fastly splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Fastly's Network Services revenue was $138 million in Q3 2026, up 16% from $119 million in Q3 2025, 73% of total revenue.
• Fastly's Security revenue was $44.7 million in Q3 2026, up 31% from $34.0 million in Q3 2025, 24% of total revenue.
• Fastly's Other revenue was $7.4 million in Q3 2026, up 37% from $5.4 million in Q3 2025, 4% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The quotes are rows of Fastly's guidance table. In each row the first range is Q4 2026 and the second is the full year 2026. The per-share outlook assumes weighted average diluted shares of 184.1 million in Q4 2026 and 180.7 million for the full year.

In its Q3 2026 release, Fastly said:

“Total Revenue (millions) $198.0-$202.0 $744.0-$748.0”

“Non-GAAP Income from Operations (millions) $30.0-$34.0 $107.0-$111.0”

“Non-GAAP Net Income per share (6)(7) $0.16-$0.18 $0.61-$0.63”

Source: Fastly Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the FSLY forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and GAAP net loss per basic and diluted share, each as first reported in that quarter's release.

We do not hold a confirmed date for Fastly's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Fastly reported revenue of $190.2 million in Q3 2026, up 20% from $158.2 million a year earlier. Network Services, which Fastly describes as solutions that improve the performance of websites, apps, APIs and digital media, brought in $138.0 million and grew 16%. Security brought in $44.7 million and grew 32%, and Other, which holds Compute and Observability, brought in $7.4 million and grew 37%. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Security was 24% of Fastly's total revenue in the quarter, according to its investor supplement. Network Services revenue rose from $118.8 million in Q3 2025 to $138.0 million, and Security from $34.0 million to $44.7 million over the same period. (Fastly Q3 2026 investor supplement (Exhibit 99.2), Nov 4, 2026)

Fastly's 10-Q puts the increase in revenue down primarily to existing customers expanding their use of the platform and its portfolio of product suites, and says revenue in the quarter came primarily from existing customers. The last 12-month net retention rate rose to 119% from 117% in Q2 2026, and 74% of large customers used two or more product suites, up 7 percentage points from a year earlier. (Fastly Form 10-Q, Q3 2026, Nov 4, 2026; Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Fastly's revenue is concentrated. Its top ten customers accounted for 39% of revenue in Q3 2026, against 32% a year earlier, and one customer accounted for 12% of revenue in the quarter. Customers in the United States generated $132.3 million of revenue, and all other countries $57.9 million. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026; Fastly Form 10-Q, Q3 2026, Nov 4, 2026)

Fastly's remaining performance obligations were $334 million at the end of the quarter, up 24% from $268 million a year earlier. Fastly counted 634 large customers, defined as those with annualized current quarter revenue above $100,000. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026; Fastly Q3 2026 investor supplement (Exhibit 99.2), Nov 4, 2026)

Fastly's GAAP net loss was $11.3 million in Q3 2026, or $0.07 per basic and diluted share, against $29.5 million, or $0.20 per share, a year earlier. Non-GAAP net income was $31.6 million, or $0.17 per diluted share, against $0.07 a year earlier. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

The largest item between Fastly's GAAP and non-GAAP results is stock-based compensation and related employer payroll taxes, $37.3 million in the quarter. Fastly also excludes amortization of capitalized stock-based compensation in cost of revenue ($1.8 million), amortization of acquired intangible assets ($2.2 million), a $1.0 million impairment expense and shareholder litigation related expenses. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Fastly's GAAP per-share figure uses 160.0 million weighted average shares, up from 148.1 million a year earlier. Its non-GAAP diluted share count was 181.9 million, which adds 21.9 million of other dilutive equity awards. GAAP loss from operations narrowed to $11.3 million, or 5.9% of revenue, from $28.8 million, or 18.2% of revenue. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Fastly publishes a numeric outlook in its release. For Q4 2026 it guided total revenue of $198.0 million to $202.0 million, non-GAAP income from operations of $30.0 million to $34.0 million and non-GAAP net income per share of $0.16 to $0.18. For the full year 2026 it guided revenue of $744.0 million to $748.0 million and non-GAAP net income per share of $0.61 to $0.63. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Fastly does not reconcile the non-GAAP outlook to GAAP, saying that would take unreasonable effort because of uncertain future expenses including stock-based compensation, shareholder litigation related expenses and impairment expense. The per-share outlook assumes 184.1 million weighted average diluted shares in Q4 2026. (Fastly Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Fastly, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Fastly's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning FSLY is on is FSLY a buy or a sell?, what analysts expect next is on the FSLY forecast, and what the company does is on the Fastly (FSLY) stock page.

Every number on this page can be traced to a document Fastly published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.