Fastly Provides Preliminary Third Quarter Revenue Results

Fastly, Inc. (NYSE: FSLY), in fulfillment of its obligations to promptly file a resale registration statement on Form S-3 in connection with its successful acquisition of Signal Sciences on October 1, today announced preliminary revenue results for the third quarter ended September 30, 2020. On October 28, Fastly will release full third quarter 2020 financial results, along with fourth quarter and full-year 2020 guidance, which will include revenue from Signal Sciences.

Fastly now expects third quarter 2020 total revenue of $70.0 to $71.0 million, compared to its previous guidance of $73.5 to $75.5 million. All previously issued third quarter and full-year guidance that Fastly disclosed in its second quarter shareholder letter and related call on August 5 should not be relied upon. These preliminary results and the withdrawal of the previously-issued third quarter and full-year guidance reflect the following customer-specific factors:

• Due to the impacts of the uncertain geopolitical environment, usage of Fastly’s platform by its previously disclosed largest customer did not meet expectations, resulting in a corresponding significant reduction in revenue from this customer.
• During the latter part of the third quarter, a few customers had lower usage than Fastly had estimated.

“The current global environment has in some ways fueled our business, but has also created areas of uncertainty. While our preliminary third quarter results reflect the challenges of a usage-based model, we believe the fundamentals of Fastly’s business remain strong, as does demand for our platform,” said Fastly CEO Joshua Bixby. "And while the timing of this required disclosure is atypical, it is part of completing the Signal Sciences transaction, which brings us a stellar team and product portfolio that further differentiates us from our competitors. I look forward to discussing our full third quarter results and the outlook for our combined businesses later this month.”

Third Quarter 2020 Financial Results Date and Conference Call

Fastly will release third quarter 2020 financial results after market close on Wednesday, October 28, 2020. Fastly will issue a press release notifying once its quarterly shareholder letter has been posted on its Investor Relations website at https://investors.fastly.com.

Fastly will host a conference call to discuss its results at 2:00 p.m. PT / 5:00 p.m. ET on Wednesday, October 28, 2020. The call can be accessed by dialing [phone] (U.S./Canada) or [phone] (International) with conference ID 2491525. A live webcast of the call will be available at https://investors.fastly.com.