Fastly, Inc. · NASDAQ:FSLY
Fastly — Investor Day (September 2026)
75 slides from Fastly's investor day presentation, Sep 22, 2026
Slide 1: Investor Day September 2026
September 22, 2026 Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 2: Welcome and Opening Remarks
Welcome and Opening Remarks Vern Essi VP, Investor Relations Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 3: Disclosure Regarding Forward-Looking Statements
Disclosure Regarding Forward - Looking Statements This presentation (this “Presentation”) contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 , as amended . We intend such forward - looking statements to be covered by the safe harbor provi
Slide 4: Today's Agenda
Today’s 1:00 Welcome and Opening Remarks Vern Essi | VP, Investor Relations Positioning Fastly for the Next Phase of Profitable Growth Agenda Kip Compton | Chief Executive Officer and Director Fireside Chat: Innovating for the Future Kip Compton | Chief Executive Officer and Director Artur Bergman |
Slide 5: Investor Day | September 2026 | ©2026 Fastly, Inc.
Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 6: Positioning Fastly for the Next Phase of Profitable Growth
Positioning Fastly for the Next Phase of Profitable Growth Kip Compton Chief Executive Officer and Director Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 7: What You Will Hear Today
What You 1 Winning With Performance Differentiating through a programmable, software - defined Will Hear architecture Today 2 One Platform, Multiple Product Suites Deepening adoption across products, platform, and reach 3 Aligned Where the Market is Going Capturing the edge’s rising value in the AI
Slide 8: Fastly at a Glance
Fastly at a Glance (NASDAQ: FSLY) Move fast. Stay safe. ~$22B $687M 23% 117% 15% 2026 TAM 1 LTM Revenue YoY Revenue LTM NRR 3 Operating Margin 3 Growth 1,100+ 600+ >97% 5+ Trillion Employees 2 Large Customers Average CSAT Score Avg. Daily Requests Served 4 ONE PLATFORM TO BUILD, SECURE, AND DELIVER
Slide 9: What Changed: From Deceleration to Reacceleration
What Changed: From Deceleration to Reacceleration What We Said Actions Results 1 Accelerate Growth & Profitability Innovation Velocity Growth Execute faster to boost revenue and reach Increased release velocity and extended platform Three consecutive quarters of 20% or higher YoY operating profitabi
Slide 10: Edge Cloud Positioning
Edge Cloud Positioning Central End Cloud Edge Cloud Users • Faster, more consistent user experiences Private • Better performance at scale with lower costs Cloud • Time - critical decisions, site - local state and caching, pre - processing / stream analytics • “First- mile” enforcement (policy, secu
Slide 11: Customers Need a Fast, Secure, and Programmable Edge Built for the AI Era
Customers Need a Fast, Secure, and Programmable Edge Built for the AI Era Speed & Configurability Security & Privacy Resilience & Adaptability Low latency experiences; faster sites and apps Protect from the first request; bot, DDoS & API Organizations need greater adaptability and with real- time co
Slide 12: Strategic Infrastructure at the Edge
Strategic Infrastructure at the Edge 166 622 Tbps POPs Edge network capacity One network designed and sized for the AI Era Single POP Multiple POPs Planned new POP Planned upgrade A MISSION - CRITICAL EDGE CLOUD PLATFORM POWERING THE MODERN INTERNET Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 13: Track Record of Innovation… One Platform, Multiple Product Suites
Track Record of Innovation… One Platform, Multiple Product Suites Fastly for AI DDoS Speed, security, Bot Protection & control for AI Observability Management Block attacks Next-Gen Monitor and Control bots in seconds Compute WAF and automated troubleshoot in Delivery Run code at the Protect apps th
Slide 14: Platform Strategy Momentum
Platform Strategy Momentum 30% Highest Leader 7 years in of Large Customers Adopting 4+ Product rated Forrester Wave Leader Edge Development a row Suites 1 Gartner Peer Insights (Only Vendor Awarded Customer Gartner Peer Insights (+16 points YoY) Customers' Choice Halo) Customers' Choice Web Edge Di
Slide 15: Strengthening Customer Value through Platform-Driven Approach
Strengthening Customer Value through Platform- Driven Approach Customer Value Higher performance Improved resiliency Simplified deployment, Integrated capabilities & lower latency due to & fewer operational management, designed specifically same location processing for handoffs across observability,
Slide 16: Latency Advantage at the Edge
AI Evolving Towards the Edge 2026 Physical AI Market Dynamics 2025 Agentic Growth Latency Advantage at the Edge Agentic AI Data Insights 2021 Generative AI Constant Change 2018 Perception AI Rising Threats Performance at Scale Unpredictable Costs Investor Day | September 2026 | ©2026 Fastly, Inc. 16
Slide 17: AI Use Cases are Scaling On Our Platform
AI Use Cases are Scaling On Our Platform Spotlight on growth in selected customer cohorts 7x 11x AI Model Distribution 2,8 MCP Traffic 2,9 6.5x 12x 1.6x Faster Growth in AI AI Content Authenticity, Provenance & AI Search, Discovery & Content Traffic vs. Human Watermarking (C2PA) 2,5,6, 10 Intelligen
Slide 18: Why We Win
Why We Win Superior Performance at Global Scale Strategic Engagement with App & API Enterprise Customers Security for the AI Era Cloud - Neutral Flexibility Unified, Programmable Anywhere Edge Platform Mission - Critical Resilience Investor Day | September 2026 | ©2026 Fastly, Inc. 18
Slide 19: …With Some of The Most Sophisticated Enterprises
…With Some of The Most Sophisticated Enterprises 6 of 7 8 of 10 6 of 10 Largest technology Largest streaming Largest video game companies globally 1 platforms 2 companies 3 1 Based on market cap. Excludes semiconductor companies. 2 Based on subscriber count. 3 Based on revenue. Investor Day | Septem
Slide 20: Clear Long-Term Strategic Priorities
Clear Long - Term Strategic Priorities Lead with the Scale Expand Platform Outcome - Driven Market Reach Solutions Drive adoption with differentiated Turn network intelligence into Grow through geographic architecture and one integrated, repeatable solutions for the AI era expansion, new segments, a
Slide 21: Our 2029 Financial Targets
Our 2029 Financial Targets $1.1- 1.3B 14- 21% Revenue CAGR Investor Day | September 2026 | ©2026 Fastly, Inc. Note: CAGR calculated from midpoint of FY2026 revenue guidance to midpoint of FY2029 target range. 21
Slide 22: Experienced C-Suite Aligned on Fastly's Platform Strategy
Experienced C - Suite Aligned on Fastly’s Platform Strategy Kip Compton Artur Bergman Rich Wong Scott Lovett Kelly Shortridge Chief Executive Officer Chief Technology Officer, Chief Financial Officer President, Go to Market Chief Product Officer and Director Founder, and Director Joan Jenkins Hossei
Slide 23: Investment Thesis: Next-Era Platform for Durable, Profitable Growth
Investment Thesis: Next - Era Platform for Durable, Profitable Growth Market leader Business Improving product Multiple pathways Edge is the control with differentiated reacceleration mix and revenue to above - market point for AI technology diversification growth Software - defined New leadership,
Slide 24: Fireside Chat: Innovating for the Future
Fireside Chat: Kip Compton Innovating for Chief Executive Officer and Director the Future Artur Bergman Chief Technology Officer, Founder, and Director Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 25: PyPI Changed Gear
PyPI Changed Gear Monthly file downloads, 2016 –2026 · linear scale · dashed = log - linear fit per window Source: BigQuery publicly available data, covering January 2018 to July 2026. Trend lines are exponential fits. Investor Day | September 2026 | ©2026 Fastly, Inc. PyPI is served by Fastly for t
Slide 26: Winning with Portfolio Excellence
Winning with Portfolio Excellence Kelly Shortridge Chief Product Officer Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 27: What You Will Hear Today
What You 1 Building a Broader and More Accessible Platform Preserving advanced configurability while improving usability to Will Hear address increasingly complex customer needs Today 2 Meeting Customers Where They Operate Delivering a flexible, cloud - neutral platform across the public edge, multi
Slide 28: Evolving Beyond a Single-Solution Provider
Evolving Beyond a Single - Solution Provider Where We Were Where We Are Where We’re Going Technical Depth Enterprise - Ready Platform Differentiation & Leapfrogging • Primarily networking (CDN) • Growing portfolio of integrated • Going beyond technical mastery to focused; other capabilities sold as
Slide 29: Delivering a Unified Platform Designed to Enhance Customer Outcomes
Delivering a Unified Platform Designed to Enhance Customer Outcomes Customer Requirements Outcomes Deliver compelling and safe experiences, instantly Reliable Fast Deploy applications and AI workloads faster Secure Anywhere Observe, report, and protect, dynamically Effortless Resilient Build for sec
Slide 30: Clear Long-Term Strategic Priorities
Clear Long - Term Strategic Priorities Lead with the Scale Expand Platform Outcome - Driven Market Reach Solutions Investor Day | September 2026 | ©2026 Fastly, Inc. 30
Slide 31: Building a Broader, More Configurable Portfolio
Building a Broader, More Configurable Portfolio PORTFOLIO TODAY The increase in complexity 6 Product Suites Cross - Platform Add - Ons means customers need Network Next - Gen Add - on capabilities available across flexibility in how they Services WAF multiple core modules achieve outcomes Compliance
Slide 32: Democratizing the Platform with Usability Enhancements
Democratizing the Platform with Usability Enhancements Evolving from a “for developers, Delivering more accessible solutions for a by developers” approach wider range of clients and end users Key Initiatives Accessible, Automating Value - focused Executive - ready simplified UI / UX expertise with “
Slide 33: Case Study: Innovating for More Effective Bot Management
Case Study: Innovating for More Effective Bot Management Result The Challenge Unique Fastly Solution Protecting customers’ IP and content Publisher identified rapidly Fastly uses customer relationships increasing AI crawler activity, and edge visibility to develop Creating new monetization paths unw
Slide 34: Cloud- and Model-Neutral Architecture Gives Enterprises Flexibility
Cloud - and Model-Neutral Architecture Gives Enterprises Flexibility as Workload Placement Evolves Public Edge Multicloud & Private Cloud Customer - Controlled • Performance and resiliency • Consistent policy and • Deploy capabilities where close to users protection data resides • Real- time visibil
Slide 35: Strengthening Fastly's Role in Governing AI
Strengthening Fastly’s Role in Governing AI AI Impacting All Elements of the Technology Value Chain Product Offerings AI Runtime Control Traffic Security • One control point across every major model provider More machine - generated AI traffic and AI - built • Rein in fragmented, bloated AI spend in
Slide 36: Taking on New Challenges: Defining the Next Era of Edge Computing Solutions
Taking on New Challenges: Defining the Next Era of Edge Computing Solutions Solution Experience Next - Gen Enhancements Improvements Opportunities • Expand Compute into • Native interfaces built • Leverage data & intel Roadmap solution suite for coding agents as differentiators Priorities • Lightwei
Slide 37: Leveraging Customer-Driven Innovation to Fuel Next Generation Solutions
Leveraging Customer - Driven Innovation to Fuel Next Generation Solutions Pursuing Repeatable, Scalable Observe emerging customer Product Innovation behavior and technical friction across the platform Leverage strategic position between applications and end users Scale the solution across the Patter
Slide 38: Expanding our Customer Reach
Expanding our Customer Reach Protecting the core... ...while expanding our reach • Deepening relationships with our • Innovating products that target largest customers, building on under- penetrated market segments established level of trust (e.g., Financial Services, Industrials) • Augmenting techn
Slide 39: Key Takeaways
Key Takeaways Building a Broader, More Preserving advanced configurability while improving usability to address increasingly Accessible Platform complex customer needs Meeting Customers Delivering a flexible, cloud - neutral platform across the public edge, multi - cloud, and Where They Operate cust
Slide 40: Q&A
Q&A Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 41: Break
Break Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 42: Executing Our Playbook for Durable Growth
Executing Our Playbook for Durable Growth Scott Lovett President, Go to Market Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 43: What You Will Hear Today
What You 1 Winning Where Performance Matters Delivering quality, performance, and reliability through our Will Hear differentiated technology Today 2 Driving Deeper Customer Intimacy Focusing on co - developing innovative solutions to evolving customer challenges 3 Building a High - Performance Comm
Slide 44: Winning Where Performance Matters
Winning Where Performance Matters Customer Needs Are Expanding Our Customers Evolution from narrow buying requirements to Operate performance - critical digital experiences broader set of performance - critical needs Value technical differentiation and reliability Reward value creation rather than l
Slide 45: Well-Positioned for Today's Market
Well- Positioned for Today’s Market Market Structure and Customer Priorities are Moving Toward Our Strengths Performance - Led Differentiated platforms Mission critical Market capturing the market Desire for Deeper Reduce multi - Preference for Partnerships vendor complexity integrated solutions Exp
Slide 46: Deepening Customer Intimacy to Address Tomorrow's Needs
Deepening Customer Intimacy to Address Tomorrow’s Needs SCALE EXPAND BUILD the core the platform the next wave Delivery Security and API Security AI Runtime Control, Optimize for continued growth Enhance cross - sell traction, Edge AI, and Compute in traffic and performance - particularly with large
Slide 47: Clear Long-Term Strategic Priorities
Clear Long - Term Strategic Priorities Lead with the Scale Expand Platform Outcome - Driven Market Reach Solutions Investor Day | September 2026 | ©2026 Fastly, Inc. 47
Slide 48: Leading with the Platform: Differentiated and Performance-Driven by Design
Leading with the Platform: Differentiated and Performance -Driven by Design Customer Requirement Fastly Advantage Results Resilient, high - Won back a global financial systems provider: Delivered the resilience and Enterprise Reliability performance delivery availability required to support its mult
Slide 49: Shifting from Product Sales to Business Outcomes
Shifting from Product Sales to Business Outcomes We enter through a critical customer pain point, then expand by providing business value Business outcome Customer Fastly Operational Broader Better experience for pain point solution improvement relationship the customer: stronger Critical performanc
Slide 50: Case Study: Expanding a Network Relationship into API Security
Case Study: Expanding a Network Relationship into API Security Outcomes from Replicable Opportunity $50M+ est. 2026 annual customer revenue Initial Relationship Why Fastly Won ~25B GB forecast annual delivery traffic Fastly supported the customer’s Proven performance and availability at ~3B GB forec
Slide 51: Evolving our Commercial Approach
Evolving our Commercial Approach + + + + Customer Executive Sales Sales analytics Pipeline segmentation engagement enablement & reporting management Refined segmentation Expanded focus beyond Implemented new Developed stronger Created better around customers that technical leaders to technical, chan
Slide 52: Expanding Our Global Opportunity
Expanding Our Global Opportunity 2025 France & Mexico Canada Amsterdam India, Middle East, France 2026 Madrid Malaysia, Thailand Middle East India Mexico Saudi Arabia India Thailand Mexico Colombia Singapore Malaysia Broader Latin America Brazil Singapore Indonesia Planned Brazil & other priority ma
Slide 53: Leveraging Partnerships to Go Further Faster
Leveraging Partnerships to Go Further Faster One of Asia’s Largest Telecom Networks, Now Specialized Expertise Why Fastly Wins a Fastly Partner Security, Compute, & Service Providers & Services Partners Local Resellers Local relationships already built • Bring specialized technical and • Bring trust
Slide 54: Key Takeaways
Key Takeaways Winning where Delivering quality, performance, and reliability Performance Matters through our differentiated technology Driving Deeper Focusing on co - developing innovative solutions to Customer Intimacy evolving customer challenges Building a Elevating our approach to commercial exc
Slide 55: Scaling a Durable, Capital-Efficient Financial Model
Scaling a Durable, Capital - Efficient Financial Model Rich Wong Chief Financial Officer Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 56: What You Will Hear Today
What You 1 Scaling Profitable Growth Building on stronger financial foundation to sustain durable growth, profitability, Will Hear and free cash flow Today 2 Deepening Platform Adoption Solving more customer needs, deepening relationships, and expanding wallet share 3 Harnessing Modern Network Econo
Slide 57: A New Fastly: From Turnaround to Profitable Growth
A New Fastly: From Turnaround to Profitable Growth RESET GROWTH SCALE Strengthened the Demonstrated operating Entering next phase of foundation momentum profitable growth • Refocused investment : Q2’25 Q2’26 • Sustaining durable, diversified Prioritized core delivery, Security growth across the plat
Slide 58: Aligning Financial Reporting with Our Platform Strategy
Aligning Financial Reporting with Our Platform Strategy Platform today (6 Product Suites) New Reporting Approach • Network Services • Compute (2027+) • Next - Gen WAF • Observability and Other • Bot Management Products Single Fastly Revenue Line • DDoS Protection Replacing network services, security
Slide 59: Driving the Fastly Value Creation Algorithm
Driving the Fastly Value Creation Algorithm Above - market Modern Disciplined Strong FCF Long - term revenue growth + network + operating + and ROI - = shareholder economics and leverage based capital value capital - efficient deployment scale Gain share through Increase network and Expand increment
Slide 60: Deepening Platform Adoption Supports Durable Revenue Growth
Deepening Platform Adoption Supports Durable Revenue Growth Growth More Customers are Adopting Multiple Product Suites Deeper Adoption Strengthens Customer 72% Economics 65% 58% • Higher customer value through greater wallet share • Stronger retention as we support more customer use cases 30% • Grea
Slide 61: Our Modern Network Creates Structural Economic Advantage
Our Modern Network Creates Structural Economic Advantage Network Economics Operating Advantage Economic Effect 65.8% • High throughput per server • More traffic supported by 2Q26 non - GAAP gross margins; and POP existing infrastructure +680bps YoY 1 • Fleetwide software upgrades • Capacity growth w
Slide 62: Disciplined Incremental Margin Model Converts Growth into Earnings
Disciplined Incremental Margin Model Converts Growth into Earnings Operating Leverage Drivers Illustrative Long - Term Framework Gross profit $1.00 Incremental revenue Network utilization, pricing and deal discipline, and platform mix 70 - 80% Incremental gross profit Operating expense Headcount gro
Slide 63: Robust Free Cash Flow Generation
Robust Free Cash Flow Generation FCF & Capital Deployment Six Future Capital Free Cash Flow Drivers Consecutive positive Allocation Priorities quarters of FCF 1,2 Strengthen the core Low capital intensity $34M Maintain performance leadership, support network capacity, continue improving core deliver
Slide 64: Our 2029 Financial Model
Our 2029 Financial Model Shareholder Value 2029 Revenue $1.1B - $1.3B Revenue CAGR (2026 - 2029) 14% - 21% Gross Margin 1 67% - 71% Operating Margin 1 20% - 22% Free Cash Flow Margin 1 12% - 15% Key Incremental Gross Incremental Operating Infrastructure Margin flow through at a Income flow through a
Slide 65: Revenue Growth Bridge
Revenue Growth Bridge Key Drivers Revenue Deepening Platform Adoption Multi- product upsell and cross - sell $1.1- $1.3B expand wallet share and strengthen New Products retention and Platform Capabilities Winning Net - New Customers $732 - Net- New Performance - led differentiation drives $746M Cust
Slide 66: Operating Margin Improvement Bridge
Operating Margin Improvement Bridge Key Drivers 700 - 1,000 bps of Margin Expansion Capital Efficient Network Software - programmable architecture and 20 - 22% one shared network improve infrastructure efficiency and limit duplicative investment Smarter Fleet Utilization Capital - Scale Disciplined
Slide 67: Key Takeaways
Key Takeaways Scaling Profitable Building on stronger financial foundation to sustain durable Growth growth, profitability, and free cash flow Deepening Platform Solving more customer needs, deepening relationships, and Adoption expanding wallet share Harnessing Modern Converting unified architectur
Slide 68: Closing Remarks
Closing Remarks Kip Compton Chief Executive Officer and Director Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 69: Why Invest in FSLY
Why Invest in FSLY Market leader with differentiated technology Business reacceleration Improving product mix and revenue diversification Multiple pathways to above - market growth Edge is the control point for AI Investor Day | September 2026 | ©2026 Fastly, Inc. 69
Slide 70: Q&A
Q&A Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 71: Appendix
Appendix Investor Day | September 2026 | ©2026 Fastly, Inc.
Slide 72: GAAP to Non-GAAP Reconciliation
GAAP to Non - GAAP Reconciliation Q2 2025 Q2 2026 Revenue Growth (YoY) Revenue $ 148,709 $ 183,317 12% 23% Cost of Revenue (GAAP) 67,593 67,366 GAAP gross profit $ 81,116 $ 115,951 Stock-based compensation expense and related employer payroll taxes 2,573 3,026 Amortization of capitalized stock-based
Slide 73: Free Cash Flow (LTM)
Free Cash Flow (LTM) Q3 2025 Q4 2025 Q1 2026 Q2 2026 LTM Q2’26 Net cash provided by operating activities $ 28,924 $ 22,434 $ 28,866 $ 39,334 $ 119,558 Capital expenditures: Purchases of property and equipment (6,046) (10,191) (21,021) (31,623) (68,881) Proceeds from sale of property and equipment —
Slide 74: Free Cash Flow
Free Cash Flow Three months ended Six months ended June 30, June 30, 2026 2025 2026 2025 Net cash provided by operating activities $ 39,334 $ 25,798 $ 68,200 $ 43,086 Capital expenditures: Purchases of property and equipment (31,623) (9,852) (52,644) (12,457) Proceeds from sale of property and equip
Slide 75: Definitions
Definitions • LTM Net Retention Rate (LTM NRR): 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 decre