On February 16, Fastly Inc. (FSLY) declared its financial results for the fourth quarter and full-year 2021, after the bell. Consequently, the stock took a harsh hit in the after-hours and nosedived by a huge 27.20%.
During the regular session, FSLY fluctuated between a high of $29.17 and a low of $27.87. The stock closed the session with a loss o 1.93% in the red at a value of $28.93 per share. The day’s volume remained 291% of its average at 8.18 million shares. Following the results announcement, FSLY subtracted a huge $7.87 at an after-hours volume of 3.18 million shares. Hence, the stock plunged down to a value of $21.06 per share in the after-hours on Wednesday.
The real-time content delivery services provider, Fastly Inc. was founded in 2011. Currently, the company has a market capitalization of 3.47 billion with 117.5 million shares outstanding. Having declined by 69.50% last year, FSLY currently stands at a year-to-date loss of 18.39%.
FSLY’s 2021 Financials
The company had total revenue of $97.7 million in Q4 2021 and $354.3 million in full-year 2021. This marks a respective increase of 18% and 22% YOY.
Moreover, the non-GAAP gross margin was 55.8% and 57.7% in Q4 and fiscal 2021, respectively. Comparatively, the same was 63.7% in Q4 and 60.9% in fiscal 2020.
Furthermore, FSLY has a non-GAAP net loss of $11.7 million or $0.10 per share in Q4 2021 against, $10.5 million or $0.09 per share in the year-ago quarter. The non-GAAP net loss was $55.9 million or $0.48 per share in fiscal 2021, against $18.8 million or $0.18 per share in 2020.
2022 Outlook
For fiscal 2022, the company expects total revenue between $400 and $410 million with non-GAAP net loss per share of $0.60-$0.70.
Additionally, for Q1 2022, the company expects revenue of $97 to $100 million with non-GAAP net loss per share of $0.15-$0.13.
FSLY Company News
On February 8, the company announced an edge deployment option launch for the Fastly Next-Gen WAF (Web Application Firewall). The unified offering not only protects applications and APIs but can also deploy across the broadest range of architectures. This next-gen technology provides rapid deployment within hours and increased visibility for faster remediation.
Conclusion
While the company beat the revenue expectations, its future outlook fell short of what was expected. Therefore, the slow future growth led the stock to decline in the after-hours on Wednesday.
