secwatch.observer — SEC 8-K summary
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Issuer:     Fastly, Inc. (FSLY)
CIK:        0001517413
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0001517413-22-000057
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517413/000151741322000057/0001517413-22-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517413/000151741322000057/fsly-20220504.htm
  HTML page:      https://secwatch.observer/filing/0001517413-22-000057

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer