Fastly (FSLY) Q4 Performance: Record Revenue, Mixed Quarter, and Stock Tumble

Fastly Inc reported record Q4 revenue of $137.8 million, a 15% year-over-year increase, with improved gross margins and a shift to non-GAAP net income profitability. The company's total customer count rose to 3,243, with 578 enterprise customers, and annual revenue retention improved to 99.2% in 2023. Fastly faces challenges such as a slight decrease in its 12-month net retention rate and a GAAP net loss, but its financial strength is evidenced by a 17% increase in total revenue for the full year 2023 and positive key metrics. The company provided guidance for Q1 2024 and the full year 2024, anticipating continued growth and innovation in the edge cloud services market.