Fastly Q1 revenue $102.4M record beats guidance; CEO search initiated

Fastly, Inc.

2022-Q1 EPS reported -$0.54 revenue$102,382,000

Q1 revenue $102.4M, up 21% YoY, 5% QoQ; GAAP net loss $64.3M ($0.54/share), non-GAAP net loss $18.0M ($0.15/share).
Board starts search for new CEO; Joshua Bixby to step down once successor appointed.
Q2 revenue guidance $99M-$102M (midpoint down QoQ); FY2022 revenue guidance $405M-$415M.
GAAP gross margin 47.3% vs 55.8% YoY; NRR LTM 115% (down from 118% Q4 2021).
Enterprise customers 457; average enterprise spend $722K (+3% QoQ); total customers 2,880.

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