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Sunday, July 3, 2022

Fastly, Inc. (FSLY) Stock Plummeting in Aftermarket, Here’s Why

 Fastly, Inc. (FSLY), a company operating an edge cloud platform, has plummeted 27.20% in aftermarket trading session and consequently is trading at $21.06 at the time of the writing. During Wednesday’s regular trading session, the stock decreased by 1.93% and closed the day at $28.93. The stock plunged in the aftermarket as soon as the company announced the result for Q4 and FY 2021 Results.

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FSLY Announced Results for Q4 and FY 2021

On Wednesday, FSLY announced the results for Q4 and FY 2021. During the fourth quarter, the company generated total revenue of $97.7 million, a growth of 18% when compared with Q4 2020. The non-GAAP net loss for Q4 2021 was $11.7 million (or net loss per basic and diluted shares of $0.10) against $10.5 million (or $0.09 per basic and diluted share) for Q4 2020. The total revenue for the fiscal year 2021 stood at $354.3 million, which depicted an increase of 22% compared to fiscal 2020. The non-GAAP net loss for the year stood at $55.9 million (or basic and diluted net loss per share of $0.48) against $18.8 million (or $0.18 per basic and diluted share) during 2020.

Financial Guidance for Q1 and FY 2022

FSLY also reported the guidance for Q1 and FY 2022. The company expects to generate revenue of $97 to $100 million during Q1 2022, while for fiscal 2022; it expects the revenue to lie between $400 and $410 million. The non-GAAP net loss per share estimated for Q1 2022 is expected to stand between $0.15 and $0.13, while for the full year 2021, it is expected to fall in a range of $0.60 to $0.50.

Executive Commentary

While commenting on the results, Joshua Bixby, CEO of FSLY, said that the company has finished 2021 on a strong note. The foundational technology of the company has continued to attract enterprise developers. The company is excited regarding the opportunities coming ahead in the fiscal year 2022 as it is bringing expansion into its network.

Future Outlook for FSLY

According to the analysts, FSLY stock holds several negative signals at this point, and hence, is expected to decline in the next couple of weeks. So, potential investors should take careful decisions regarding their investment in FSLY stock.

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