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Form 8-K

sec.gov

8-K — Fastly, Inc.

Accession: 0001517413-26-000212

Filed: 2026-08-05

Period: 2026-08-05

CIK: 0001517413

SIC: 7372 (SERVICES-PREPACKAGED SOFTWARE)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — fsly-20260805.htm (Primary)

EX-99.1 (ex991-fslypressrelease63026.htm)

EX-99.2 (ex992-investorsupplement63.htm)

GRAPHIC (fastlylogo-redxjpega.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: fsly-20260805.htm · Sequence: 1

fsly-20260805

0001517413false00015174132026-08-052026-08-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2026

FASTLY, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware 001-38897 27-5411834

(State or other jurisdiction of

incorporation or organization) (Commission File Number)

(I.R.S. Employer

Identification No.)

475 Brannan Street, Suite 300

San Francisco, CA 94107

(Address of principal executive offices) (Zip code)

(844) 432-7859

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s) Name of each exchange

on which registered

Class A Common Stock, $0.00002 par value

“FSLY”

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02    Results of Operations and Financial Condition.

On August 5, 2026, Fastly, Inc. (the "Company") announced its financial results for the quarter ended June 30, 2026 by issuing a press release. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Attached hereto as Exhibit 99.2 and incorporated by reference herein is the Company’s investor supplement, regarding results of the quarter ended June 30, 2026 (the “Investor Supplement”). The Investor Supplement will be posted to http://investors.fastly.com immediately after the filing of this Form 8-K.

The information furnished on this Form 8-K, including the exhibits attached, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01    Regulation FD Disclosure.

On August 5, 2026, the Company posted supplemental financial and other information to http://investors.fastly.com.

The Company may announce material business and financial information to its investors using its investor relations website (http://investors.fastly.com), its filings with the Securities and Exchange Commission, its corporate X (formerly known as Twitter) account (@Fastly), its blog (http://www.fastly.com/blog), its corporate LinkedIn account (http://www.linkedin.com/company/fastly), webcasts, press releases, and conference calls. The Company uses these mediums, including its website, to communicate with investors and the general public about the Company, its products, and other issues. It is possible that the information that we make available on these mediums may be deemed to be material information. Therefore, the Company encourages investors and others interested in the Company to review the information that it makes available through these channels.

The content of the Company’s websites and information that the Company may post on or provide to online and social media channels, including those mentioned above, and information that can be accessed through the Company’s websites or these online and social media channels are not incorporated by reference into this Current Report on Form 8-K or in any other report or document the Company files with the Securities and Exchange Commission, and any references to the Company’s websites or these online and social media channels are intended to be inactive textual references only.

Item 9.01                   Financial Statements and Exhibits.

(d)Exhibits

Exhibit

No.    Exhibit Description

99.1

Press Release dated August 5, 2026

99.2

Investor Supplement for Second Quarter 2026 Results

+ Indicates management contract or compensatory plan.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FASTLY, INC.

Dated: August 5, 2026 By: /s/ Richard Wong

Richard Wong

Chief Financial Officer

EX-99.1

EX-99.1

Filename: ex991-fslypressrelease63026.htm · Sequence: 2

Document

Exhibit 99.1

Fastly Announces Second Quarter 2026 Financial Results

Record second quarter revenue of $183.3 million grew 23% year-over-year

Record second quarter gross margin of 63.3% and record non-GAAP gross margin of 65.8%

LTM NRR of 117% reaches highest level in over three years

SAN FRANCISCO — August 5, 2026 — Fastly, Inc. (NASDAQ: FSLY), a leader in global edge cloud platforms, today announced financial results for its second quarter ended June 30, 2026.

"Record second quarter results reflect strong execution and the deep trust customers place in our technology and our teams," said Kip Compton, CEO of Fastly. "Our platform strategy is driving business momentum, giving us the confidence to raise our full-year outlook."

($ in thousands, except per share data) (unaudited) Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Revenue $ 183,317  $ 148,709  $ 356,338  $ 293,183

Gross margin

GAAP gross margin 63.3  % 54.5  % 62.9  % 53.9  %

Non-GAAP gross margin(1)

65.8  % 59.0  % 65.5  % 58.2  %

Operating loss

GAAP operating loss $ (14,433) $ (36,943) $ (38,328) $ (75,122)

Non-GAAP operating income (loss)(1)

$ 26,993  $ (4,594) $ 46,136  $ (10,439)

Net income (loss) per share

GAAP net loss per common share — basic and diluted $ (0.10) $ (0.26) $ (0.23) $ (0.53)

Non-GAAP net income (loss) per common share — basic(1)

$ 0.17  $ (0.03) $ 0.32  $ (0.08)

Non-GAAP net income (loss) per common share — diluted(1)

$ 0.15  $ (0.03) $ 0.28  $ (0.08)

For a reconciliation of non-GAAP financial measures to their corresponding GAAP measures, please refer to the reconciliation table at the end of this press release.

Second Quarter 2026 Financial Summary

•Total revenue of $183.3 million, representing 23% year-over-year growth. Network Services revenue of $133.9 million, representing 17% year-over-year growth. Security revenue of $41.7 million, representing 43% year-over-year growth. Other revenue of $7.7 million, representing 69% year-over-year growth. Network Services revenue includes solutions designed to improve performance of websites, apps, APIs, and digital media. Security revenue includes products designed to protect websites, apps, APIs, and users. Other revenue includes Compute and Observability solutions.

•Generated $39.3 million of operating cash flow compared to $25.8 million of operating cash flow in the second quarter of 2025. Generated $3.6 million of positive free cash flow compared to $10.9 million in the second quarter of 2025.

•GAAP gross margin of 63.3%, compared to 54.5% in the second quarter of 2025. Non-GAAP gross margin1 of 65.8%, compared to 59.0% in the second quarter of 2025.

•GAAP net loss of $15.6 million, compared to $37.5 million in the second quarter of 2025. Non-GAAP net income1 of $26.2 million, compared to non-GAAP net loss1 of $5.0 million in the second quarter of 2025.

•GAAP net loss per basic and diluted share of $0.10, compared to $0.26 in the second quarter of 2025. Non-GAAP net income per basic share1 of $0.17, compared to non-GAAP net loss per basic share1 of $0.03 in the second quarter of 2025. Non-GAAP net income per diluted share1 of $0.15, compared to non-GAAP net loss per diluted share1 of $0.03 in the second quarter of 2025.

Key Metrics

•Remaining Performance Obligations (RPO)2 were $341 million, up 38% from $247 million in the second quarter of 2025.

•Fastly's top ten customers accounted for 37% of revenue in the second quarter of 2026 compared to 31% in the second quarter of 2025.

•Last 12-month net retention rate (LTM NRR)3 increased to 117% in the second quarter from 113% in the first quarter of 2026.

Second Quarter Business and Product Highlights

•Announced new research showing how rapidly growing AI traffic is reshaping the internet, growing 6.5x faster than human traffic this year, and why organizations need new strategies to manage machine traffic.

•Released a joint announcement with LALIGA on the collaboration of anti-piracy solutions that are designed to address illegal streaming of live sports and help rights holders prevent lost revenue.

•Announced a new partnership with Skyfire, enabling trusted commerce at the edge so enterprises can now securely identify, verify, and transact with AI agents in real time and at global scale, without re-architecting existing infrastructure.

•Released C++ SDK for Fastly Compute, enabling enterprises to secure, scale, and accelerate their C++ AI workloads, gaming features, and other low-latency applications.

Third Quarter and Full Year 2026 Guidance

Q3 2026 Full Year 2026

Total Revenue (millions) $184.0 - $190.0 $732.0 - $746.0

Non-GAAP Operating Income (millions)

$20.0 - $24.0 $88.0 - $96.0

Non-GAAP Net Income per share(4)(5)

$0.11 - $0.13 $0.50 - $0.54

A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future and cannot be reasonably determined or predicted at this time, although it is important to note that these factors could be material to Fastly’s future GAAP financial results.

Conference Call Information

Fastly will host an investor conference call to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET on Wednesday, August 5, 2026.

To access the conference call, please pre-register and dial-in using this link at least 15 minutes prior to the 1:30 p.m. PT start time. Registrants will receive an email confirmation with dial-in details.

A live webcast of the event can be accessed using this link. A replay of the webcast will be available on https://investors.fastly.com starting approximately two hours after the event and archived on the site for one quarter.

About Fastly, Inc.

Fastly’s powerful and programmable edge cloud platform helps the world’s top brands deliver online experiences that are fast, safe, and engaging through edge compute, delivery, security, and observability offerings that improve site performance, enhance security, and empower innovation at global scale. Compared to other providers, Fastly’s powerful, high-performance, and modern platform architecture empowers developers to deliver secure websites and apps with rapid time-to-market and demonstrated, industry-leading cost savings. Organizations around the world trust Fastly to help them upgrade the internet experience, including Reddit, Universal Music Group, and SeatGeek. Learn more about Fastly at https://www.fastly.com, and follow us @fastly.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, statements regarding our future financial and operating performance and shareholder returns, including our outlook and guidance and ability to maintain and strengthen our liquidity position; our ability to acquire new customers, expand cross-sell opportunities, and grow market share; our ability to enrich our revenue mix with platform enhancements; the performance of our existing and new platform enhancements; our ability to accelerate global growth; our partnerships and collaborations; the performance, capabilities, and expectations regarding customer experiences with Fastly Compute, including its C++ SDK, Bot Management and DDoS Protection, and Next-Gen WAF; and Fastly's strategies, platform, and business plans. Except as required by law, we assume no

obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports Fastly files with the Securities and Exchange Commission (“SEC”), including those more fully described in Fastly’s Annual Report on Form 10-K for the year ended December 31, 2025. Additional information will also be set forth in Fastly’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and other filings and reports that Fastly may file from time to time with the SEC. Copies of reports filed with the SEC are posted on Fastly’s website and are available from Fastly without charge.

Use of Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company uses the following non-GAAP measures of financial performance: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP basic and diluted net income (loss) per common share, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, free cash flow and adjusted EBITDA. The presentation of this additional financial information is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. These non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. In addition, these non-GAAP financial measures may be different from the non-GAAP financial measures used by other companies. These non-GAAP measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. Management compensates for these limitations by reconciling these non-GAAP financial measures to the most comparable GAAP financial measures within our earnings releases.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP basic and diluted net income (loss) per common share, non-GAAP research and development, non-GAAP sales and marketing, and non-GAAP general and administrative differ from GAAP in that they exclude stock-based compensation expense and related employer payroll taxes, amortization of capitalized stock-based compensation - cost of revenue, amortization of acquired intangible assets, executive transition costs, and amortization of debt discount and issuance costs.

Adjusted EBITDA: excludes stock-based compensation expense and related employer payroll taxes, amortization of capitalized stock-based compensation - cost of revenue, gain on modification of lease, depreciation and other amortization expenses, amortization of acquired intangible assets, impairment expense, executive transition costs, interest income, interest expense, including amortization of debt discount and issuance costs, other expense (income), net, and income taxes.

Amortization of Acquired Intangible Assets: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases and acquisitions. Management considers its operating results without this activity when evaluating its ongoing non-GAAP performance and its adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and acquisitions and may not be reflective of our core business, ongoing operating results, or future outlook.

Amortization of Debt Discount and Issuance Costs: consists primarily of amortization expense related to our debt obligations. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook. These are included in our total interest expense.

Capital Expenditures: consists of cash used for purchases of property and equipment, net of proceeds from sale of property and equipment, capitalized internal-use software and payments on finance lease obligations, as reflected in our statement of cash flows.

Depreciation and Other Amortization Expense: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and may not be reflective of our core business, ongoing operating results, or future outlook.

Executive Transition Costs: consists of one-time cash charges recognized with respect to changes in our executive’s employment status. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results, or future outlook.

Free Cash Flow: calculated as net cash used in operating activities less purchases of property and equipment, net of proceeds from sale of property and equipment, and capitalized internal-use software costs. Management specifically identifies adjusting items in the reconciliation of GAAP to non-GAAP financial measures. Management considers non-GAAP free cash flow to be a profitability and liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in Fastly's business and strengthening its balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. The

presentation of non-GAAP free cash flow is also not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.

Gain on Modification of Lease: consists of a one-time non-cash charge recognized with respect to the modification of our leases. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results, or future outlook.

Impairment Expense: consists of charges related to our long-lived assets. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Income Taxes: consists primarily of expenses recognized related to state and foreign income taxes. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Interest Expense: consists primarily of interest expense related to our debt instruments, including amortization of debt discount and issuance costs. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Interest Income: consists primarily of interest income related to our marketable securities. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Other (Expense) Income, Net: consists primarily of foreign currency transaction gains and losses. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Stock-Based Compensation Expense and Related Employer Payroll Taxes: consists of expenses for stock options, restricted stock units, performance awards and other shares issued under our equity incentive plans or our Employee Stock Purchase Plan ("ESPP"), as applicable, and the related employer payroll taxes. Although stock-based compensation and its related employer payroll taxes are expenses for the Company, management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance, primarily because they are expenses not believed by management to be reflective of our core business, ongoing operating results, or future outlook. In addition, the value of some stock-based instruments is determined using formulas that incorporate variables, such as market volatility, that are beyond our control.

Amortization of Capitalized Stock-Based Compensation - Cost of Revenue: in order to reflect the performance of our core business, ongoing operating results, or future outlook, and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies, similar to stock-based compensation, management considers it appropriate to exclude amortization of capitalized stock-based compensation from our non-GAAP financial measures.

Management believes these non-GAAP financial measures and adjusted EBITDA serve as useful metrics for our management and investors because they enable a better understanding of the long-term performance of our core business and facilitate comparisons of our operating results over multiple periods and to those of peer companies, and when taken together with the corresponding GAAP financial measures and our reconciliations, enhance investors' overall understanding of our current financial performance.

In the financial tables below, the Company provides a reconciliation of the most comparable GAAP financial measure to the historical non-GAAP financial measures used in this press release.

Key Metrics

1 Beginning with the quarter ended March 31, 2026, we are excluding stock-based compensation related employer payroll taxes from our non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP net income (loss) per common share — basic and non-GAAP net income (loss) per common share — diluted, because we consider our operating results without this activity when evaluating our ongoing non-GAAP net income (loss) performance and our adjusted EBITDA performance. We did not recast the presentation for all prior periods presented due to the immaterial amount of such payroll taxes.

2 Remaining Performance Obligations include future committed revenue for periods within current contracts with customers, as well as deferred revenue arising from consideration invoiced for which the related performance obligations have not been satisfied. During the third quarter of 2025, we identified an error in RPO calculations from certain contracts with a termination-for-convenience clause. We recast the presentation of RPO for all prior periods presented to reflect the correction of this error.

3 We calculate LTM Net Retention Rate by dividing the total customer revenue for the prior twelve-month period (“prior 12-month period”) ending at the beginning of the last twelve-month period (“LTM period”) minus revenue contraction due to billing decreases or customer churn, plus revenue expansion due to billing increases during the LTM period from the same customers by the total prior 12-month period revenue. We believe the LTM Net Retention Rate is supplemental as it removes some of the volatility that is inherent in a usage-based business model.

4 Non-GAAP net income per share is calculated as Non-GAAP net income divided by weighted average diluted shares for 2026.

5 Assumes weighted average diluted shares outstanding of 181.4 million in Q3 2026 and 180.3 million for the full year 2026.

Condensed Consolidated Statements of Operations

(unaudited, in thousands, except per share amounts)

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Revenue $ 183,317  $ 148,709  $ 356,338  $ 293,183

Cost of revenue(1)

67,366  67,593  132,206  135,269

Gross profit 115,951  81,116  224,132  157,914

Operating expenses:

Research and development(1)

42,071  42,221  84,043  79,650

Sales and marketing(1)

56,735  51,100  111,849  100,413

General and administrative(1)

31,578  24,323  66,568  52,558

Impairment expense —  415  —  415

Total operating expenses 130,384  118,059  262,460  233,036

Loss from operations (14,433) (36,943) (38,328) (75,122)

Interest income 2,842  3,084  5,769  6,059

Interest expense (3,348) (3,164) (6,654) (6,337)

Other (expense) income, net (400) 39  (780) (41)

Loss before income taxes (15,339) (36,984) (39,993) (75,441)

Income tax expense (benefit) 252  557  (3,878) 1,248

Net loss $ (15,591) $ (37,541) $ (36,115) $ (76,689)

Net loss per share attributable to common stockholders, basic and diluted $ (0.10) $ (0.26) $ (0.23) $ (0.53)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 157,596  145,780  155,598  144,539

__________

(1)Includes stock-based compensation expense as follows:

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Cost of revenue $ 2,757  $ 2,573  $ 5,293  $ 4,512

Research and development 11,902  11,755  21,932  20,648

Sales and marketing 10,344  8,176  19,697  14,869

General and administrative 10,169  3,831  23,231  11,888

Total $ 35,172  $ 26,335  $ 70,153  $ 51,917

Reconciliation of GAAP to Non-GAAP Financial Measures

(unaudited, in thousands, except per share data)

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Gross profit

GAAP gross profit $ 115,951  $ 81,116  $ 224,132  $ 157,914

Stock-based compensation expense and related employer payroll taxes(1)

3,026  2,573  5,773  4,512

Amortization of capitalized stock-based compensation - Cost of revenue

1,694  1,581  3,383  3,222

Amortization of acquired intangible assets —  2,475  —  4,950

Non-GAAP gross profit $ 120,671  $ 87,745  $ 233,288  $ 170,598

GAAP gross margin 63.3  % 54.5  % 62.9  % 53.9  %

Non-GAAP gross margin 65.8  % 59.0  % 65.5  % 58.2  %

Research and development

GAAP research and development $ 42,071  $ 42,221  $ 84,043  $ 79,650

Stock-based compensation expense and related employer payroll taxes(1)

(12,967) (11,755) (24,355) (20,648)

Non-GAAP research and development $ 29,104  $ 30,466  $ 59,688  $ 59,002

Sales and marketing

GAAP sales and marketing $ 56,735  $ 51,100  $ 111,849  $ 100,413

Stock-based compensation expense and related employer payroll taxes(1)

(10,869) (8,176) (21,009) (14,869)

Amortization of acquired intangible assets (2,160) (2,279) (4,319) (4,580)

Executive transition costs —  —  (262) —

Non-GAAP sales and marketing $ 43,706  $ 40,645  $ 86,259  $ 80,964

General and administrative

GAAP general and administrative $ 31,578  $ 24,323  $ 66,568  $ 52,558

Stock-based compensation expense and related employer payroll taxes(1)

(10,710) (3,831) (24,302) (11,888)

Executive transition costs —  —  (1,061) (335)

Gain on modification of lease —  736  —  736

Non-GAAP general and administrative $ 20,868  $ 21,228  $ 41,205  $ 41,071

Operating income (loss)

GAAP operating loss $ (14,433) $ (36,943) $ (38,328) $ (75,122)

Stock-based compensation expense and related employer payroll taxes(1)

37,572  26,335  75,439  51,917

Amortization of capitalized stock-based compensation - Cost of revenue

1,694  1,581  3,383  3,222

Executive transition costs —  —  1,323  335

Gain on modification of lease —  (736) —  (736)

Amortization of acquired intangible assets 2,160  4,754  4,319  9,530

Impairment expense —  415  —  415

Non-GAAP operating income (loss) $ 26,993  $ (4,594) $ 46,136  $ (10,439)

Net income (loss)

GAAP net loss $ (15,591) $ (37,541) $ (36,115) $ (76,689)

Stock-based compensation expense and related employer payroll taxes(1)

37,572  26,335  75,439  51,917

Amortization of capitalized stock-based compensation - Cost of revenue

1,694  1,581  3,383  3,222

Executive transition costs —  —  1,323  335

Gain on modification of lease —  (736) —  (736)

Amortization of acquired intangible assets 2,160  4,754  4,319  9,530

Impairment expense —  415  —  415

Amortization of debt discount and issuance costs 366  217  767  434

Non-GAAP net income (loss) $ 26,201  $ (4,975) $ 49,116  $ (11,572)

Non-GAAP net income (loss) per common share — basic $ 0.17  $ (0.03) $ 0.32  $ (0.08)

Non-GAAP net income (loss) per common share — diluted $ 0.15  $ (0.03) $ 0.28  $ (0.08)

Weighted average basic common shares 157,596  145,780  155,598  144,539

Weighted average diluted common shares 180,304  145,780  178,410  144,539

(1) Similar to stock-based compensation, we believe it is also appropriate to exclude employer payroll taxes related to stock-based compensation from our non-GAAP financial measures in order to reflect the performance of our core business and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies. In order to continue to improve the usefulness of our non-GAAP financial measures to the investors, starting with the quarter ended March 31, 2026, we are excluding stock-based compensation related employer payroll taxes from our non-GAAP financial measures. We did not recast the presentation for all prior periods presented due to the immaterial amount of such payroll taxes. Refer to Non-GAAP Financial Measures definition for further details.

Reconciliation of GAAP to Non-GAAP Financial Measures (continued)

(unaudited, in thousands, except per share data)

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Reconciliation of GAAP to Non-GAAP diluted shares

GAAP diluted shares 157,596  145,780  155,598  144,539

Other dilutive equity awards 22,708  —  22,812  —

Non-GAAP diluted shares 180,304  145,780  178,410  144,539

Non-GAAP diluted net income (loss) per share $ 0.15  $ (0.03) $ 0.28  $ (0.08)

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Adjusted EBITDA

GAAP net loss $ (15,591) $ (37,541) $ (36,115) $ (76,689)

Stock-based compensation expense and related employer payroll taxes(1)

37,572  26,335  75,439  51,917

Amortization of capitalized stock-based compensation - Cost of revenue 1,694  1,581  3,383  3,222

Gain on modification of lease —  (736) —  (736)

Depreciation and other amortization 11,129  13,505  21,449  27,155

Amortization of acquired intangible assets 2,160  4,754  4,319  9,530

Amortization of debt discount and issuance costs 366  217  767  434

Impairment expense —  415  —  415

Executive transition costs —  —  1,323  335

Interest income (2,842) (3,084) (5,769) (6,059)

Interest expense 2,982  2,947  5,887  5,903

Other expense (income), net 400  (39) 780  41

Income tax expense (benefit) 252  557  (3,878) 1,248

Adjusted EBITDA $ 38,122  $ 8,911  $ 67,585  $ 16,716

(1)Similar to stock-based compensation, we believe it is also appropriate to exclude employer payroll taxes related to stock-based compensation from our non-GAAP financial measures in order to reflect the performance of our core business and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies. In order to continue to improve the usefulness of our non-GAAP financial measures to the investors, starting with the quarter ended March 31, 2026, we are excluding stock-based compensation related employer payroll taxes from our non-GAAP financial measures. We did not recast the presentation for all prior periods presented due to the immaterial amount of such payroll taxes. Refer to Non-GAAP Financial Measures definition for further details.

Condensed Consolidated Balance Sheets

(unaudited, in thousands)

As of

June 30, 2026 As of

December 31, 2025

ASSETS

Current assets:

Cash and cash equivalents $ 89,798  $ 180,563

Marketable securities

247,700  181,196

Accounts receivable, net of allowance for credit losses 114,216  118,029

Prepaid expenses and other current assets 27,333  26,921

Total current assets 479,047  506,709

Property and equipment, net 220,354  186,785

Operating lease right-of-use assets, net 58,213  52,067

Goodwill 670,356  670,356

Intangible assets, net 21,232  25,771

Other assets 54,441  57,789

Total assets $ 1,503,643  $ 1,499,477

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable $ 20,124  $ 17,612

Accrued expenses 52,937  70,669

Long-term debt, current —  38,557

Operating lease liabilities, current 30,100  24,427

Deferred revenue

34,266  35,234

Other current liabilities 5,096  7,499

Total current liabilities 142,523  193,998

Long-term debt, net

323,958  323,282

Operating lease liabilities, non-current 44,234  43,921

Other long-term liabilities 2,111  8,698

Total liabilities 512,826  569,899

Stockholders’ equity:

Common stock 3  3

Additional paid-in capital 2,141,909  2,044,103

Accumulated other comprehensive loss (493) (41)

Accumulated deficit (1,150,602) (1,114,487)

Total stockholders’ equity 990,817  929,578

Total liabilities and stockholders’ equity $ 1,503,643  $ 1,499,477

Condensed Consolidated Statements of Cash Flows

(unaudited, in thousands)

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Cash flows from operating activities:

Net loss $ (15,591) $ (37,541) $ (36,115) $ (76,689)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation expense 12,720  14,962  24,612  30,129

Amortization of intangible assets 2,262  4,878  4,539  9,778

Non-cash lease expense 6,887  5,694  13,085  11,349

Amortization of debt discount and issuance costs 366  217  767  434

Amortization of deferred contract costs 4,733  4,847  9,491  9,697

Stock-based compensation 35,172  26,335  70,153  51,917

Deferred income taxes (23) 327  (4,353) 749

Provision for credit losses 1,014  1,048  2,532  1,994

(Gain) loss on disposals of property and equipment (9) (43) 267  (43)

Accretion of discounts and amortization of premiums, net (1,019) (1,356) (1,817) (1,982)

Impairment expense —  415  —  415

Non-cash interest expense 969  969  969  969

Other adjustments (57) (84) (275) 292

Changes in operating assets and liabilities:

Accounts receivable, net 14,807  669  1,281  (3,324)

Prepaid expenses and other current assets 2,227  121  (412) 2,337

Other assets (3,195) (6,076) (1,845) (8,171)

Accounts payable 1,497  3,446  8,309  6,021

Accrued expenses (2,651) 1,577  872  (1,806)

Operating lease liabilities (7,114) (2,332) (12,923) (7,888)

Other liabilities (13,661) 7,725  (10,937) 16,908

Net cash provided by operating activities 39,334  25,798  68,200  43,086

Cash flows from investing activities:

Purchases of marketable securities (87,262) (93,440) (266,602) (272,926)

Maturities of marketable securities 24,329  37,836  201,472  45,805

Purchases of property and equipment (31,623) (9,852) (52,644) (12,457)

Proceeds from sale of property and equipment 10  44  10  44

Capitalized internal-use software (4,148) (4,542) (7,884) (9,305)

Net cash used in investing activities (98,694) (69,954) (125,648) (248,839)

Cash flows from financing activities:

Repayment of convertible senior notes —  —  (38,593) —

Payments of other debt issuance costs —  —  (502) —

Repayments of finance lease liabilities —  (537) —  (2,248)

Proceeds from exercise of vested stock options 92  279  1,135  687

Proceeds from employee stock purchase plan 2,397  1,240  4,676  3,371

Net cash provided by (used in) financing activities 2,489  982  (33,284) 1,810

Effects of exchange rate changes on cash and cash equivalents (1) 177  (33) 255

Net decrease in cash and cash equivalents (56,872) (42,997) (90,765) (203,688)

Cash and cash equivalents at beginning of period 146,670  125,484  180,563  286,175

Cash and cash equivalents at end of period $ 89,798  $ 82,487  $ 89,798  $ 82,487

Free Cash Flow

(unaudited, in thousands)

Three months ended

June 30, Six months ended

June 30,

2026 2025 2026 2025

Net cash provided by operating activities $ 39,334  $ 25,798  $ 68,200  $ 43,086

Capital expenditures(1)

(35,761) (14,887) (60,518) (23,966)

Free Cash Flow $ 3,573  $ 10,911  $ 7,682  $ 19,120

__________

(1)Capital expenditures are defined as cash used for purchases of property and equipment, net of proceeds from sale of property and equipment, capitalized internal-use software and payments on finance lease obligations, as reflected in our statement of cash flows.

Contacts

Investor Contact

Vernon Essi, Jr.

ir@fastly.com

Media Contact

Stacey Hurwitz

press@fastly.com

Source: Fastly, Inc.

EX-99.2

EX-99.2

Filename: ex992-investorsupplement63.htm · Sequence: 3

Document

Second Quarter 2026 Investor Supplement

Product Innovation and Developments

•Released a joint announcement with LALIGA on the collaboration of anti-piracy solutions that are designed to address illegal streaming of live sports and help rights holders prevent lost revenue.

•Released C++ SDK for Fastly Compute, enabling enterprises to secure, scale, and accelerate their C++ AI workloads, gaming features, and other low-latency applications.

Customer Highlights

•A leading UK health and beauty retailer expanded its use of Fastly’s platform with a multi-year, multi-million dollar commitment, replacing a long-time incumbent security vendor as part of a broader platform modernization.

•Le Monde is using Fastly’s Bot Management solution to set the terms for how their content gets accessed, transforming a scraping problem into controlled, licensed, revenue-generating relationships.

•A global education technology firm chose Fastly’s Next-Gen WAF after suffering a significant data breach when its prior WAF failed to adequately mitigate attacks.

•A leading fintech company selected Fastly after a rigorous evaluation, leveraging its resiliency and security capabilities to overcome a history of service disruptions with alternative solutions.

•A major auto-shopping platform added Fastly’s Bot Management and DDoS Protection to gain visibility and control over automated traffic, giving them the governance capabilities they need to run their business.

Calculations of Key and Other Selected Metrics – Quarterly (unaudited)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Revenue by Product ($ in millions):

Network Services Revenue $ 107.4 $ 110.1 $ 113.3 $ 114.9 $ 118.8 $ 130.8 $ 126.2 $ 133.9

Security Revenue 26.2 26.9 26.4 29.3 34.0 35.4 38.8 41.7

Other Revenue 3.6 3.6 4.8 4.5 5.4 6.4 8.0 7.7

Total Revenue $ 137.2 $ 140.6 $ 144.5 $ 148.7 $ 158.2 $ 172.6 $ 173.0 $ 183.3

Key Metrics:

Large Customer Count(6)

576  596  595  622  627  628  634  624

Large Customer Revenue % 92  % 93  % 93  % 94  % 94  % 94  % 94  % 94  %

Top Ten Customer Revenue % 33  % 32  % 33  % 31  % 32  % 34  % 34  % 37  %

LTM Net Retention Rate (NRR)(2)

105  % 102  % 100  % 104  % 106  % 110  % 113  % 117  %

Remaining Performance Obligations (RPO)(1)

$ 231.1 $ 227.6 $ 225.9 $ 247.1 $ 268.0 $ 353.8 $ 368.7 $ 340.9

Current RPO %(7)

78.0  % 79.0  % 69.0  % 76.0  % 77.0  % 70.0  % 75.0  % 79.0  %

Exhibit 99.2

Corporate Highlights

•Announced new research showing how rapidly growing AI traffic is reshaping the internet, growing 6.5x faster than human traffic this year, and why organizations need new strategies to manage machine traffic.

•Announced a new partnership with Skyfire enabling trusted commerce at the edge so enterprises can now securely identify, verify, and transact with AI agents in real time and at global scale, without re-architecting existing infrastructure.

Key Financial & Metrics Highlights

•Total revenue of $183.3 million, representing 23% year-over-year growth highlighted by Security revenue growing 43% year-over-year and representing 23% of total revenue.

•Generated $39.3 million of operating cash flow compared to $25.8 million of operating cash flow in the second quarter of 2025. Generated $3.6 million of positive free cash flow compared to $10.9 million in the second quarter of 2025.

•Remaining Performance Obligations (RPO)1 were $341 million, up 38% from $247 million in the second quarter of 2025.

•Last 12-month net retention rate (LTM NRR)2 increased to 117% in the second quarter from 113% in the first quarter of 2026.

Third Quarter and Full Year 2026 Guidance

Q3 2026 Full Year 2026

Total Revenue (millions) $184.0 - $190.0 $732.0 - $746.0

Non-GAAP Operating Income (millions)(3)

$20.0 - $24.0 $88.0 - $96.0

Non-GAAP Net Income per share(3)(4)(5)

$0.11 - $0.13 $0.50 - $0.54

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 1

Key Metrics

1.Remaining Performance Obligations include future committed revenue for periods within current contracts with customers, as well as deferred revenue arising from consideration invoiced for which the related performance obligations have not been satisfied. During the third quarter of 2025, we identified an error in RPO calculations from certain contracts with a termination-for-convenience clause. We recast the presentation of RPO for all prior periods presented to reflect the correction of this error.

2.We calculate LTM Net Retention Rate by dividing the total customer revenue for the prior twelve-month period (“prior 12-month period”) ending at the beginning of the last twelve-month period (“LTM period”) minus revenue contraction due to billing decreases or customer churn, plus revenue expansion due to billing increases during the LTM period from the same customers by the total prior 12-month period revenue. We believe the LTM Net Retention Rate is supplemental as it removes some of the volatility that is inherent in a usage-based business model.

3.For a reconciliation of non-GAAP financial measures to their corresponding GAAP measures, please refer to the reconciliation table at the end of this supplement. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future and cannot be reasonably determined or predicted at this time, although it is important to note that these factors could be material to Fastly’s future GAAP financial results.

4.Assumes weighted average diluted shares outstanding of 181.4 million in Q3 2026 and 180.3 million for the full year 2026.

5.Non-GAAP net income per share is calculated as Non-GAAP net income divided by weighted average diluted shares for 2026.

6.Our large customers are defined as those with annualized current quarter revenue in excess of $100,000. This is calculated by taking the revenue for each customer within the quarter and multiplying it by four.

7.Current RPO % is calculated as RPO expected to be recognized over the next 12 months divided by total RPO.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 2

Forward-Looking Statements

This investor supplement contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include, but are not limited to, statements regarding our future financial and operating performance and shareholder returns, including our outlook and guidance and ability to maintain and strengthen our liquidity position; our ability to acquire new customers, expand cross-sell opportunities, and grow market share; our ability to enrich our revenue mix with platform enhancements; the performance of our existing and new platform enhancements; our ability to accelerate global growth; our partnerships and collaborations; the performance, capabilities, and expectations regarding customer experiences with Fastly Compute, including its C++ SDK, Bot Management and DDoS Protection, and Next-Gen WAF; and Fastly's strategies, platform, and business plans. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Important factors that could cause our actual results to differ materially are detailed from time to time in the reports Fastly files with the Securities and Exchange Commission (“SEC”), including those more fully described in Fastly's Annual Report on Form 10-K for the year ended December 31, 2025. Additional information will also be set forth in Fastly’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and other filings and reports that Fastly may file from time to time with the SEC. Copies of reports filed with the SEC are posted on Fastly’s website and are available from Fastly without charge.

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company uses the following non-GAAP measures of financial performance: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP basic and diluted net income (loss) per common share, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, free cash flow and adjusted EBITDA. The presentation of this additional financial information is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. These non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. In addition, these non-GAAP financial measures may be different from the non-GAAP financial measures used by other companies. These non-GAAP measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. Management compensates for these limitations by reconciling these non-GAAP financial measures to the most comparable GAAP financial measures within our earnings releases.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP net income (loss) and non-GAAP basic and diluted net income (loss) per common share, non-GAAP research and development, non-GAAP sales and marketing, and non-GAAP general and administrative differ from GAAP in that they exclude stock-based compensation expense and related employer payroll taxes, amortization of capitalized stock-based compensation - cost of revenue, amortization of acquired intangible assets, executive transition costs, net gain on extinguishment of debt, impairment expense, restructuring charges, gain on modification of lease, and amortization of debt discount and issuance costs.

Adjusted EBITDA: excludes stock-based compensation expense and related employer payroll taxes, amortization of capitalized stock-based compensation - cost of revenue, gain on modification of lease, depreciation and other amortization expenses, amortization of acquired intangible assets, net gain on extinguishment of debt, impairment expense, executive transition costs, restructuring charges, interest income, interest expense, including amortization of debt discount and issuance costs, other expense (income), net, and income taxes.

Amortization of Acquired Intangible Assets: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases and acquisitions. Management considers its operating results without this activity when evaluating its ongoing non-GAAP performance and its adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and acquisitions and may not be reflective of our core business, ongoing operating results, or future outlook.

Amortization of Debt Discount and Issuance Costs: consists primarily of amortization expense related to our debt obligations. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook. These are included in our total interest expense.

Capital Expenditures: consists of cash used for purchases of property and equipment, net of proceeds from sale of property and equipment, capitalized internal-use software and payments on finance lease obligations, as reflected in our statement of cash flows.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 3

Depreciation and Other Amortization Expense: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and may not be reflective of our core business, ongoing operating results, or future outlook.

Executive Transition Costs: consists of one-time cash charges recognized with respect to changes in our executive’s employment status. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results, or future outlook.

Free Cash Flow: calculated as net cash used in operating activities less purchases of property and equipment, net of proceeds from sale of property and equipment, principal payments of finance lease liabilities, and capitalized internal-use software costs. Management specifically identifies adjusting items in the reconciliation of GAAP to non-GAAP financial measures. Management considers non-GAAP free cash flow to be a profitability and liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in Fastly's business and strengthening its balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. The presentation of non-GAAP free cash flow is also not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.

Gain on Modification of Lease: consists of a one-time non-cash charge recognized with respect to the modification of our leases. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results, or future outlook.

Impairment Expense: consists of charges related to our long-lived assets. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Income Taxes: consists primarily of expenses recognized related to state and foreign income taxes. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Interest Expense: consists primarily of interest expense related to our debt instruments, including amortization of debt discount and issuance costs. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Interest Income: consists primarily of interest income related to our marketable securities. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Net Gain on Debt Extinguishment: relates to net gain on the partial repurchase of our outstanding convertible debt. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Other (Expense) Income, Net: consists primarily of foreign currency transaction gains and losses. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Restructuring Charges: consists primarily of employee-related severance and termination benefits related to management's restructuring plan that resulted in a reduction in our workforce. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Stock-Based Compensation Expense and Related Employer Payroll Taxes: consists of expenses for stock options, restricted stock units, performance awards and other shares issued under our equity incentive plans or our Employee Stock Purchase Plan ("ESPP"), as applicable, and the related employer payroll taxes. Although stock-based compensation and its related employer payroll taxes are expenses for the Company, management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance, primarily because they are expenses not believed by management to be reflective of our core business, ongoing operating results, or future outlook. In addition, the value of some stock-based instruments is determined using formulas that incorporate variables, such as market volatility, that are beyond our control.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 4

Amortization of Capitalized Stock-Based Compensation - Cost of Revenue: in order to reflect the performance of our core business, ongoing operating results, or future outlook, and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies, similar to stock-based compensation, management considers it appropriate to exclude amortization of capitalized stock-based compensation from our non-GAAP financial measures.

Management believes these non-GAAP financial measures and adjusted EBITDA serve as useful metrics for our management and investors because they enable a better understanding of the long-term performance of our core business and facilitate comparisons of our operating results over multiple periods and to those of peer companies, and when taken together with the corresponding GAAP financial measures and our reconciliations, enhance investors' overall understanding of our current financial performance.

In the financial tables below, the Company provides a reconciliation of the most comparable GAAP financial measure to the historical non-GAAP financial measures used in this investor supplement.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 5

Consolidated Statements of Operations – Quarterly

(unaudited, in thousands, except per share data)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Revenue $ 137,206  $ 140,579  $ 144,474  $ 148,709  $ 158,223  $ 172,612  $ 173,021  $ 183,317

Cost of revenue(1)

62,466  65,516  67,676  67,593  65,894  66,652  64,840  67,366

Gross profit 74,740  75,063  76,798  81,116  92,329  105,960  108,181  115,951

Operating expenses:

Research and development(1)

31,884  32,742  37,429  42,221  41,421  41,591  41,972  42,071

Sales and marketing(1)

45,994  50,050  49,313  51,100  49,998  51,023  55,114  56,735

General and administrative(1)

27,173  26,154  28,235  24,323  29,698  28,436  34,990  31,578

Impairment expense 559  448  —  415  —  —  —  —

Restructuring charges

9,720  —  —  —  —  —  —  —

Total operating expenses 115,330  109,394  114,977  118,059  121,117  121,050  132,076  130,384

Loss from operations (40,590) (34,331) (38,179) (36,943) (28,788) (15,090) (23,895) (14,433)

Net gain on extinguishment of debt —  1,365  —  —  —  941  —  —

Interest income 3,819  3,267  2,975  3,084  3,080  3,151  2,927  2,842

Interest expense (473) (1,231) (3,173) (3,164) (3,161) (3,201) (3,306) (3,348)

Other (expense) income, net (317) (815) (80) 39  (55) (625) (380) (400)

Loss before income taxes

(37,561) (31,745) (38,457) (36,984) (28,924) (14,824) (24,654) (15,339)

Income tax expense (benefit) 455  1,141  691  557  559  681  (4,130) 252

Net loss $ (38,016) $ (32,886) $ (39,148) $ (37,541) $ (29,483) $ (15,505) $ (20,524) $ (15,591)

Net loss per share attributable to common stockholders, basic and diluted $ (0.27) $ (0.23) $ (0.27) $ (0.26) $ (0.20) $ (0.10) $ (0.13) $ (0.10)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 139,237  141,085  143,284  145,780  148,129  150,324  153,579  157,596

__________

(1)Includes stock-based compensation expense as follows:

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Cost of revenue $ 1,911  $ 1,910  $ 1,939  $ 2,573  $ 2,861  $ 2,764  $ 2,536  $ 2,757

Research and development 7,378  7,922  8,893  11,755  11,915  11,890  10,030  11,902

Sales and marketing 7,113  7,047  6,693  8,176  8,754  9,348  9,353  10,344

General and administrative 8,614  8,066  8,057  3,831  9,599  8,275  13,062  10,169

Total $ 25,016  $ 24,945  $ 25,582  $ 26,335  $ 33,129  $ 32,277  $ 34,981  $ 35,172

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 6

Reconciliation of GAAP to Non-GAAP Financial Measures – Quarterly

(unaudited, in thousands, except per share data)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Gross profit

GAAP gross profit $ 74,740 $ 75,063 $ 76,798 $ 81,116 $ 92,329 $ 105,960 $ 108,181 $ 115,951

Stock-based compensation expense and related employer payroll taxes(1)

1,911 1,910 1,939 2,573 2,861 2,764 2,748 3,026

Amortization of capitalized stock-based compensation - cost of revenue 1,338 1,371 1,641 1,581 1,664 1,662 1,688 1,694

Amortization of acquired intangible assets 2,475 2,475 2,475 2,475 2,475 — — —

Non-GAAP gross profit $ 80,464 $ 80,819 $ 82,853 $ 87,745 $ 99,329 $ 110,386 $ 112,617 $ 120,671

GAAP gross margin 54.5% 53.4% 53.2% 54.5% 58.4% 61.4% 62.5% 63.3%

Non-GAAP gross margin 58.6% 57.5% 57.3% 59.0% 62.8% 64.0% 65.1% 65.8%

Research and development

GAAP research and development $ 31,884 $ 32,742 $ 37,429 $ 42,221 $ 41,421 $ 41,591 $ 41,972 $ 42,071

Stock-based compensation expense and related employer payroll taxes(1)

(7,378) (7,922) (8,893) (11,755) (11,915) (11,890) (11,388) (12,967)

Executive transition costs — — — — (326) (221) — —

Non-GAAP research and development $ 24,506 $ 24,820 $ 28,536 $ 30,466 $ 29,180 $ 29,480 $ 30,584 $ 29,104

Sales and marketing

GAAP sales and marketing $ 45,994 $ 50,050 $ 49,313 $ 51,100 $ 49,998 $ 51,023 $ 55,114 $ 56,735

Stock-based compensation expense and related employer payroll taxes(1)

(7,113) (7,047) (6,693) (8,176) (8,754) (9,348) (10,140) (10,869)

Amortization of acquired intangible assets (2,300) (2,299) (2,301) (2,279) (2,159) (2,159) (2,159) (2,160)

Executive transition costs — — — — — — (262) —

Non-GAAP sales and marketing $ 36,581 $ 40,704 $ 40,319 $ 40,645 $ 39,085 $ 39,516 $ 42,553 $ 43,706

General and administrative

GAAP general and administrative $ 27,173 $ 26,154 $ 28,235 $ 24,323 $ 29,698 $ 28,436 $ 34,990 $ 31,578

Stock-based compensation expense and related employer payroll taxes(1)

(8,614) (8,066) (8,057) (3,831) (9,599) (8,275) (13,592) (10,710)

Executive transition costs — — (335) — (643) — (1,061) —

Gain on modification of lease — — — 736 — — — —

Non-GAAP general and administrative $ 18,559 $ 18,088 $ 19,843 $ 21,228 $ 19,456 $ 20,161 $ 20,337 $ 20,868

Operating income (loss)

GAAP operating loss $ (40,590) $ (34,331) $ (38,179) $ (36,943) $ (28,788) $ (15,090) $ (23,895) $ (14,433)

Stock-based compensation expense and related employer payroll taxes(1)

25,016 24,945 25,582 26,335 33,129 32,277 37,868 37,572

Amortization of capitalized stock-based compensation - cost of revenue 1,338 1,371 1,641 1,581 1,664 1,662 1,688 1,694

Restructuring charges 9,720 — — — — — — —

Executive transition costs — — 335 — 969 221 1,323 —

Gain on modification of lease — — — (736) — — — —

Amortization of acquired intangible assets 4,775 4,774 4,776 4,754 4,634 2,159 2,159 2,160

Impairment expense 559 448 — 415 — — — —

Non-GAAP operating income (loss) $ 818 $ (2,793) $ (5,845) $ (4,594) $ 11,608 $ 21,229 $ 19,143 $ 26,993

Net income (loss)

GAAP net loss $ (38,016) $ (32,886) $ (39,148) $ (37,541) $ (29,483) $ (15,505) $ (20,524) $ (15,591)

Stock-based compensation expense and related employer payroll taxes(1)

25,016 24,945 25,582 26,335 33,129 32,277 37,868 37,572

Amortization of capitalized stock-based compensation - cost of revenue 1,338 1,371 1,641 1,581 1,664 1,662 1,688 1,694

Restructuring charges 9,720 — — — — — — —

Executive transition costs — — 335 — 969 221 1,323 —

Gain on modification of lease — — — (736) — — — —

Amortization of acquired intangible assets 4,775 4,774 4,776 4,754 4,634 2,159 2,159 2,160

Net gain on extinguishment of debt — (1,365) — — — (941) — —

Impairment expense 559 448 — 415 — — — —

Amortization of debt issuance costs 358 318 217 217 216 257 401 366

Non-GAAP net income (loss) $ 3,750 $ (2,395) $ (6,597) $ (4,975) $ 11,129 $ 20,130 $ 22,915 $ 26,201

GAAP net loss per common share — basic and diluted $ (0.27) $ (0.23) $ (0.27) $ (0.26) $ (0.20) $ (0.10) $ (0.13) $ (0.10)

Non-GAAP net income (loss) per common share — basic $ 0.03 $ (0.02) $ (0.05) $ (0.03) $ 0.08 $ 0.13 $ 0.15 $ 0.17

Non-GAAP net income (loss) per common share — diluted $ 0.03 $ (0.02) $ (0.05) $ (0.03) $ 0.07 $ 0.12 $ 0.13 $ 0.15

Weighted average basic common shares 139,237 141,085 143,284 145,780 148,129 150,324 153,579 157,596

Weighted average diluted common shares 143,415 141,085 143,284 145,780 161,229 164,074 176,494 180,304

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 7

(1)Similar to stock-based compensation, we believe it is also appropriate to exclude employer payroll taxes related to stock-based compensation from our non-GAAP financial measures in order to reflect the performance of our core business and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies. In order to continue to improve the usefulness of our non-GAAP financial measures to the investors, starting with the quarter ended March 31, 2026, we are excluding stock-based compensation related employer payroll taxes from our non-GAAP financial measures. We did not recast the presentation for all prior periods presented due to the immaterial amount of such payroll taxes. Refer to Non-GAAP Financial Measures definition for further details.

Reconciliation of GAAP to Non-GAAP Financial Measures – Quarterly (Continued)

(unaudited, in thousands, except per share data)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Reconciliation of GAAP to Non-GAAP diluted shares:

GAAP diluted shares 139,237  141,085  143,284  145,780  148,129  150,324  153,579  157,596

Other dilutive equity awards 4,178  —  —  —  13,100  13,750  22,915  22,708

Non-GAAP diluted shares 143,415  141,085  143,284  145,780  161,229  164,074  176,494  180,304

Non-GAAP diluted net income (loss) per share $ 0.03  $ (0.02) $ (0.05) $ (0.03) $ 0.07  $ 0.12  $ 0.13  $ 0.15

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Adjusted EBITDA

GAAP net loss $ (38,016) $ (32,886) $ (39,148) $ (37,541) $ (29,483) $ (15,505) $ (20,524) $ (15,591)

Stock-based compensation expense and related employer payroll taxes(1)

25,016  24,945  25,582  26,335  33,129  32,277  37,868  37,572

Amortization of capitalized stock-based compensation - cost of revenue 1,338  1,371  1,641  1,581  1,664  1,662  1,688  1,694

Gain on modification of lease —  —  —  (736) —  —  —  —

Depreciation and other amortization 13,781  13,911  13,650  13,505  14,101  13,725  10,320  11,129

Amortization of acquired intangible assets 4,775  4,774  4,776  4,754  4,634  2,159  2,159  2,160

Amortization of debt discount and issuance costs 358  318  217  217  216  257  401  366

Net gain on extinguishment of debt —  (1,365) —  —  —  (941) —  —

Impairment expense 559  448  —  415  —  —  —  —

Executive transition costs —  —  335  —  969  221  1,323  —

Restructuring charges 9,720  —  —  —  —  —  —  —

Interest income (3,819) (3,267) (2,975) (3,084) (3,080) (3,151) (2,927) (2,842)

Interest expense 115  913  2,956  2,947  2,945  2,944  2,905  2,982

Other expense (income), net 317  815  80  (39) 55  625  380  400

Income tax expense (benefit) 455  1,141  691  557  559  681  (4,130) 252

Adjusted EBITDA $ 14,599  $ 11,118  $ 7,805  $ 8,911  $ 25,709  $ 34,954  $ 29,463  $ 38,122

(1)Similar to stock-based compensation, we believe it is also appropriate to exclude employer payroll taxes related to stock-based compensation from our non-GAAP financial measures in order to reflect the performance of our core business and to be consistent with the way many investors evaluate our performance and compare our operating results to peer companies. In order to continue to improve the usefulness of our non-GAAP financial measures to the investors, starting with the quarter ended March 31, 2026, we are excluding stock-based compensation related employer payroll taxes from our non-GAAP financial measures. We did not recast the presentation for all prior periods presented due to the immaterial amount of such payroll taxes. Refer to Non-GAAP Financial Measures definition for further details.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 8

Non-GAAP Consolidated Statements of Operations – Quarterly

(unaudited, in thousands, except per share data)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Revenue $ 137,206  $ 140,579  $ 144,474  $ 148,709  $ 158,223  $ 172,612  $ 173,021  $ 183,317

Cost of revenue(1)(2)(3)

56,742  59,760  61,621  60,964  58,894  62,226  60,404  62,646

Gross profit(1)(2)

80,464  80,819  82,853  87,745  99,329  110,386  112,617  120,671

Operating expenses:

Research and development(1)(4)

24,506  24,820  28,536  30,466  29,180  29,480  30,584  29,104

Sales and marketing(1)(3)(4)

36,581  40,704  40,319  40,645  39,085  39,516  42,553  43,706

General and administrative(1)(4)(5)

18,559  18,088  19,843  21,228  19,456  20,161  20,337  20,868

Total operating expenses(1)(2)(3)(4)(5)(6)(7)

79,646  83,612  88,698  92,339  87,721  89,157  93,474  93,678

Income (loss) from operations(1)(2)(3)(4)(5)(6)(7)

818  (2,793) (5,845) (4,594) 11,608  21,229  19,143  26,993

Interest income 3,819  3,267  2,975  3,084  3,080  3,151  2,927  2,842

Interest expense(8)

(115) (913) (2,956) (2,947) (2,945) (2,944) (2,905) (2,982)

Other (expense) income, net (317) (815) (80) 39  (55) (625) (380) (400)

Income (loss) before income taxes(1)(2)(3)(4)(5)(6)(7)(8)(9)

4,205  (1,254) (5,906) (4,418) 11,688  20,811  18,785  26,453

Income tax expense (benefit) 455  1,141  691  557  559  681  (4,130) 252

Net income (loss)(1)(2)(3)(4)(5)(6)(7)(8)(9)

$ 3,750  $ (2,395) $ (6,597) $ (4,975) $ 11,129  $ 20,130  $ 22,915  $ 26,201

Net income (loss) per share attributable to common stockholders, basic

$ 0.03  $ (0.02) $ (0.05) $ (0.03) $ 0.08  $ 0.13  $ 0.15  $ 0.17

Net income (loss) per share attributable to common stockholders, diluted

$ 0.03  $ (0.02) $ (0.05) $ (0.03) $ 0.07  $ 0.12  $ 0.13  $ 0.15

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic 139,237 141,085 143,284 145,780 148,129 150,324 153,579 157,596

Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted 143,415 141,085 143,284 145,780 161,229 164,074 176,494 180,304

(1)Excludes stock-based compensation expense and related employer payroll taxes. See GAAP to Non-GAAP reconciliations.

(2)Excludes amortization of capitalized stock-based compensation - cost of revenue. See GAAP to Non-GAAP reconciliations.

(3)Excludes amortization of acquired intangible assets. See GAAP to Non-GAAP reconciliations.

(4)Excludes executive transition costs. See GAAP to Non-GAAP reconciliations.

(5)Excludes gain on modification of lease. See GAAP to Non-GAAP reconciliations.

(6)Excludes impairment expense. See GAAP to Non-GAAP reconciliations.

(7)Excludes restructuring charges. See GAAP to Non-GAAP reconciliations.

(8)Excludes amortization of debt discount and issuance costs. See GAAP to Non-GAAP reconciliations.

(9)Excludes net gain on extinguishment of debt. See GAAP to Non-GAAP reconciliations.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 9

Consolidated Balance Sheets – Quarterly

(unaudited, in thousands)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Assets

Current assets:

Cash and cash equivalents $ 217,514  $ 286,175  $ 125,484  $ 82,487  $ 113,131  $ 180,563  $ 146,670  $ 89,798

Marketable securities

90,733  9,707  181,808  238,721  229,780  181,196  183,819  247,700

Accounts receivable, net of allowance for credit losses 116,800  115,988  119,035  117,318  109,184  118,029  130,037  114,216

Prepaid expenses and other current assets 28,011  28,325  26,243  26,137  27,689  26,921  29,560  27,333

Total current assets 453,058  440,195  452,570  464,663  479,784  506,709  490,086  479,047

Property and equipment, net 180,288  179,097  177,876  181,770  182,896  186,785  215,911  220,354

Operating lease right-of-use assets, net 47,700  50,433  48,802  54,001  53,050  52,067  57,697  58,213

Goodwill 670,356  670,356  670,356  670,356  670,356  670,356  670,356  670,356

Intangible assets, net 47,776  42,876  37,976  32,814  28,055  25,771  23,494  21,232

Other assets 72,576  68,402  61,665  59,573  56,461  57,789  55,984  54,441

Total assets $ 1,471,754  $ 1,451,359  $ 1,449,245  $ 1,463,177  $ 1,470,602  $ 1,499,477  $ 1,513,528  $ 1,503,643

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable $ 11,354  $ 6,044  $ 9,802  $ 13,344  $ 10,829  $ 17,612  $ 39,006  $ 20,124

Accrued expenses 40,854  41,622  37,165  45,282  60,421  70,669  45,523  52,937

Long-term debt, current —  —  187,871  188,051  188,232  38,557  —  —

Finance lease liabilities, current 4,882  2,328  617  80  —  —  —  —

Operating lease liabilities, current 23,857  25,155  26,988  23,673  23,676  24,427  28,107  30,100

Deferred revenue

—  —  —  —  —  35,234  39,560  34,266

Other current liabilities 33,261  29,307  38,442  42,373  45,757  7,499  11,244  5,096

Total current liabilities 114,208  104,456  300,885  312,803  328,915  193,998  163,440  142,523

Long-term debt, net

344,498  337,614  149,874  149,883  149,893  323,282  323,620  323,958

Operating lease liabilities, non-current 40,565  39,561  36,615  48,577  47,106  43,921  46,019  44,234

Other long-term liabilities 3,029  4,478  4,848  9,267  7,723  8,698  3,303  2,111

Total liabilities 502,300  486,109  492,222  520,530  533,637  569,899  536,382  512,826

Stockholders’ equity:

Common stock 3  3  3  3  3  3  3  3

Additional paid-in capital 1,929,397  1,958,157  1,989,108  2,012,312  2,035,956  2,044,103  2,112,577  2,141,909

Accumulated other comprehensive loss (22) (100) (130) (169) (12) (41) (423) (493)

Accumulated deficit (959,924) (992,810) (1,031,958) (1,069,499) (1,098,982) (1,114,487) (1,135,011) (1,150,602)

Total stockholders’ equity 969,454  965,250  957,023  942,647  936,965  929,578  977,146  990,817

Total liabilities and stockholders’ equity $ 1,471,754  $ 1,451,359  $ 1,449,245  $ 1,463,177  $ 1,470,602  $ 1,499,477  $ 1,513,528  $ 1,503,643

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 10

Consolidated Statements of Cash Flows – Quarterly

(unaudited, in thousands)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Cash flows from operating activities:

Net loss $ (38,016) $ (32,886) $ (39,148) $ (37,541) $ (29,483) $ (15,505) $ (20,524) $ (15,591)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation expense 13,656  13,786  15,167  14,962  15,639  15,263  11,892  12,720

Amortization of intangible assets 4,900  4,900  4,900  4,878  4,759  2,284  2,277  2,262

Non-cash lease expense 5,463  5,655  5,655  5,694  5,476  5,620  6,198  6,887

Amortization of debt discount and issuance costs 358  316  217  217  216  256  401  366

Amortization of deferred contract costs 4,773  4,746  4,850  4,847  4,869  4,803  4,758  4,733

Stock-based compensation 25,016  24,945  25,582  26,335  33,129  32,277  34,981  35,172

Deferred income taxes

339  893  422  327  289  395  (4,330) (23)

Provision for credit losses 1,054  1,434  946  1,048  1,236  951  1,518  1,014

Loss (gain) on disposals of property and equipment —  96  —  (43) —  229  276  (9)

Accretion of discounts and amortization of premiums, net (1,064) (507) (626) (1,356) (1,305) (1,416) (798) (1,019)

Impairment of operating lease right-of-use assets 371  —  —  —  —  —  —  —

Impairment expense 559  448  —  415  —  —  —  —

Net gain on extinguishment of debt —  (1,365) —  —  —  (941) —  —

Non-cash interest expense —  840  2,906  969  2,906  969  2,906  969

Other adjustments 520  (897) 376  (84) (189) 446  (218) (57)

Changes in operating assets and liabilities:

Accounts receivable, net

(3,976) (622) (3,993) 669  6,898  (9,796) (13,526) 14,807

Prepaid expenses and other current assets (2,589) (207) 2,216  121  (1,526) 768  (2,639) 2,227

Other assets (2,705) (4,140) (2,095) (6,076) (4,820) (6,554) 1,350  (3,195)

Accounts payable 4,754  (3,903) 2,575  3,446  (2,741) 1,209  6,812  1,497

Accrued expenses 2,707  1,220  (3,383) 1,577  1,339  20  3,523  (2,651)

Operating lease liabilities (7,329) (7,200) (5,556) (2,332) (5,774) (7,045) (5,809) (7,114)

Other liabilities (3,789) (2,332) 6,277  7,725  (1,994) (1,799) (182) (13,661)

Net cash provided by operating activities 5,002  5,220  17,288  25,798  28,924  22,434  28,866  39,334

Cash flows from investing activities:

Purchases of marketable securities (37,902) —  (179,486) (93,440) (79,136) (37,775) (179,340) (87,262)

Sales of marketable securities —  —  —  —  18,128  7,808  —  —

Maturities of marketable securities 113,032  81,480  7,969  37,836  71,417  79,954  177,143  24,329

Purchases of property and equipment (1,996) (4,969) (2,605) (9,852) (6,046) (10,191) (21,021) (31,623)

Proceeds from sale of property and equipment —  —  —  44  —  —  —  10

Capitalized internal-use software (6,818) (5,602) (4,763) (4,542) (4,707) (3,645) (3,736) (4,148)

Net cash provided by (used in) investing activities

66,316  70,909  (178,885) (69,954) (344) 36,151  (26,954) (98,694)

Cash flows from financing activities:

Repayment of convertible senior notes —  —  —  —  —  —  (38,593) —

Proceeds from issuance of convertible notes —  —  —  —  —  180,000  —  —

Payments of other debt issuance costs —  (5,729) —  —  —  (5,924) (502) —

Cash paid for debt extinguishment —  —  —  —  —  (148,875) —  —

Payments for purchase of capped calls —  —  —  —  —  (18,162) —  —

Repayments of finance lease liabilities (3,296) (2,554) (1,711) (537) (80) —  —  —

Proceeds from exercise of vested stock options 19  805  408  279  71  286  1,043  92

Proceeds from employee stock purchase plan 2,168  161  2,131  1,240  2,106  1,529  2,279  2,397

Net cash (used in) provided by financing activities (1,109) (7,317) 828  982  2,097  8,854  (35,773) 2,489

Effects of exchange rate changes on cash and cash equivalents 109  (151) 78  177  (33) (7) (32) (1)

Net increase (decrease) in cash and cash equivalents 70,318  68,661  (160,691) (42,997) 30,644  67,432  (33,893) (56,872)

Cash and cash equivalents at beginning of period 147,196  217,514  286,175  125,484  82,487  113,131  180,563  146,670

Cash and cash equivalents at end of period $ 217,514  $ 286,175  $ 125,484  $ 82,487  $ 113,131  $ 180,563  $ 146,670  $ 89,798

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 11

Free Cash Flow

(unaudited, in thousands)

Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Net cash provided by operating activities $ 5,002  $ 5,220  $ 17,288  $ 25,798  $ 28,924  $ 22,434  $ 28,866  $ 39,334

Capital expenditures(1):

Purchases of property and equipment (1,996) (4,969) (2,605) (9,852) (6,046) (10,191) (21,021) (31,623)

Proceeds from sale of property and equipment —  —  —  44  —  —  —  10

Capitalized internal-use software (6,818) (5,602) (4,763) (4,542) (4,707) (3,645) (3,736) (4,148)

Repayments of finance lease liabilities (3,296) (2,554) (1,711) (537) (80) —  —  —

Free Cash Flow $ (7,108) $ (7,905) $ 8,209  $ 10,911  $ 18,091  $ 8,598  $ 4,109  $ 3,573

__________

(1)Capital expenditures are defined as cash used for purchases of property and equipment, net of proceeds from sale of property and equipment, capitalized internal-use software and payments on finance lease obligations, as reflected in our statement of cash flows.

Fastly Q2 2026 Earnings Investor Supplement (8/5/2026)                    Page 12

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Address Line 1 such as Attn, Building Name, Street Name

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Name of the City or Town

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Code for the postal or zip code

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Name of the state or province.

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

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Indicate if registrant meets the emerging growth company criteria.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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Two-character EDGAR code representing the state or country of incorporation.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

-Number 240

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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-Section 14d

-Subsection 2b

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Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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-Publisher SEC

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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