Slide 1: Investor Presentation Q4 FY 2025
Investor February 11, 2026 Presentation Q4 FY 2025 ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026)
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation (this “Presentation”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry tha
Slide 3: Investment highlights
Investment highlights Internet and AI trends Multiple ways Large and growing to accelerate and driving significant addressable sustain growth opportunity market Unified platform Mission-critical Clear market centered on platform vital leader with innovation for customer differentiated operations tec
Slide 4: Our mission is to make the internet a better place
Our mission is to make the internet a better place, where all experiences are fast, safe, and engaging $624M 23% ~$22B 600+ 1,100+ 110% LTM Revenue YoY Revenue TAM Enterprise Employees LTM NRR Q4‘2025 Growth Q4ʼ2025 2025E Customers +95% 1.8+ Trillion 32% 1 2 Faster average time to first byte Average
Slide 5: Growth of internet consumption presents a significant opportunity for Fastly
Growth of internet consumption presents a significant opportunity for Fastly 2025 traffic growth estimate: 16% YoY 1 Reached 33 exabytes per day 2 ● AI generated content ● AI queries ● Peak events ● AI Inferencing ● Downloads Growing coverage ● Agentic AI ● ● Live event network traffic ● Service aff
Slide 6: Edge Cloud positioning
Edge Cloud positioning Fastly partners with the Central Cloud with the goal of: ■ Faster, more consistent user experiences ■ Better performance at scale with lower costs ■ Time-critical decisions, site-local state and caching, pre-processing/stream analytics ■ “First-mile” enforcement (policy, secur
Slide 7: What is better done at the Edge?
What is better done at the Edge? Content & Application Security Compute / AI Observability Delivery Resilient & Enforcement & Speed Configurable Lower Cost Mission Critical Security Edge better? Why is the “First-mile” Personalized, Helps applications Low latency (faster sites), enforcement (policy,
Slide 8: Fastly's strategic global edge network
Fastlyʼs strategic global edge network Legacy Solutions 129 532 Tbps POPs Edge network capacity Deploying thousands of small, scattered POPs Slow and requires extensive hardware ✔ Fewer, more powerful POPs at strategic markets around the world Single POP Multiple POPs ✔ Less hardware to Planned new
Slide 9: Recognized by analysts and customers
Recognized by analysts and customers 2025 STUDY LEADER & CUSTOMERSʼ LEADER CUSTOMER VALUE CUSTOMERSʼ CHOICE Edge Development APP SECURITY CHOICE Web App/API Highest Security ROI 235% Worldwide Edge Protection Score Delivery 7 years in a row Highly Innovative ©2026 Fastly, Inc. Fastly Q4 2025 Earning
Slide 10: Select customers in key industry verticals
Select customers in key industry verticals 628 3,092 $1.03M 110% Enterprise Total Customer Avg Enterprise LTM NRR Customers Count Spend Annualized Media, Gaming & FinTech Omnichannel Retail SaaS Solutions Travel & Leisure Entertainment Note: All figures as of December 31, 2025 ©2026 Fastly, Inc. Fas
Slide 11: Platform strategy and transformation
Platform strategy and transformation Strong momentum across our offerings driven by a Other platform-focused approach (4%) ● Compute +78% ● Observability Q4 YoY Growth Security (21%) ● WAF ● Bot Management ● DDoS +32% Network ● API Discovery Q4 YoY Growth Services ● CSP (76%) ● Delivery ● Media Shie
Slide 12: Our growth drivers
Our growth drivers 1 Platform strategy and cross-sell opportunities 2 Accelerated R&D innovation and feature velocity 3 Share gains on competitive take-outs 4 Deeper penetration into international markets ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026) 12
Slide 13: Q4 FY 2025 Financial Results
Q4 FY 2025 Financial Results ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026) 13
Slide 14: Q4 2025 Financial highlights
Q4 2025 Financial highlights $624M 23% 32% LTM Revenue YoY Revenue Growth YoY Security Revenue Growth 64.0% $354M $46M Non-GAAP Gross Margin Remaining Performance Obligation (RPO) LTM Free Cash Flow* (vs 57.5% in Q4 ‘2024)* Grew 55% YoY *Non-GAAP measures. See Appendix for a reconciliation of these
Slide 15: Revenue and Non-GAAP gross margin performance
Revenue and Non-GAAP gross margin performance Total revenue ($M), YoY growth and Non-GAAP gross margin Quarterly Results Annual Results YoY revenue YoY revenue growth 14% 8% 7% 2% 8% 12% 15% 23% 7% 15% growth Note: Non-GAAP measures. See Appendix for a reconciliation of these non-GAAP measures to th
Slide 16: Opex leverage over time
Opex leverage over time Total Non-GAAP operating expenses % of revenue Quarterly Results Annual Results Note: Non-GAAP measures. See Appendix for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures. Percentages do not sum due to rounding. ©2026 Fastly, Inc. Fast
Slide 17: Increasingly efficient operating model
Increasingly efficient operating model Non-GAAP Income from operations and FCF ($M) Quarterly Results Annual Results (6%) (2%) (9%) (14%) 1% (5%) (2%) (6%) (4%) 6% (3%) 7% 7% 11% 12% 5% (4%) (7%) 4% 7% Margin (% of revenue) Note: Non-GAAP measures. See Appendix for a reconciliation of these non-GAAP
Slide 18: Financial Guidance
Financial Guidance Q1 2026 FY 2026 Revenue $168M - $174M $700M - $720M Growth % YoY (midpoint) 18% 14% Gross Margin* 64.0%, +/- 50 bps 63.0%, +/- 50 bps Operating Income* $14M - $18M $50M - $60M EPS, fully diluted* $0.07 - $0.10 $0.23 - $0.29 Free Cash Flow - $40M - $50M * Non-GAAP measures. See App
Slide 19: Appendix
Appendix ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026) 19
Slide 20: Definitions
Definitions 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 per
Slide 21: GAAP to Non-GAAP Quarterly Reconciliation
GAAP to Non-GAAP Quarterly Reconciliation ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026) 21
Slide 22: GAAP to Non-GAAP Quarterly reconciliation (cont'd)
GAAP to Non-GAAP Quarterly reconciliation (contʼd) ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026) 22
Slide 23: ©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026)
©2026 Fastly, Inc. Fastly Q4 2025 Earnings Investor Deck (2/11/2026) 23