FSLYFastly, Inc.

Filed with the SEC on November 4, 2026 | Form 10-Q | Q3 FY2026

Metric	Q3 FY2026
Net Loss	$(106,172,000)
Operating Loss	$(103,910,000)
Basic EPS	$(0.73)
Diluted EPS	$(0.73)
Stock Price (at time of report)	$15.42
Today's Change	-26.69%

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What Happened

Fastly, Inc. filed its quarterly report on Form 10-Q with the SEC on November 4, 2026, covering the third fiscal quarter of 2026. The filing disclosed a net loss of $106.2 million and an operating loss of $103.9 million for the quarter, with both basic and diluted loss per share coming in at $(0.73). The scale of the operating loss — representing the core losses from Fastly's day-to-day business before interest and other items — underscores the degree to which the company's cost structure continues to outpace its revenue generation, and the market has responded decisively, with shares falling 26.69% on the day.

Why It Matters

For investors, the Q3 results represent a significant negative signal about the pace of Fastly's path toward profitability. A net loss approaching $106 million in a single quarter is substantial in absolute terms, and the near-parity between the operating loss ($103.9M) and the net loss ($106.2M) suggests that non-operating items provided little meaningful offset. At a share price of $15.42 — well below the level implied by StockWatch's existing coverage initiated in September 2026 — the market is repricing Fastly's risk profile materially downward. The magnitude of today's single-day move (-26.7%) indicates this quarter's figures came in significantly below what investors had anticipated, raising near-term questions about execution, cost discipline, and the timeline to breakeven.

Analysis

The Q3 FY2026 numbers force a hard look at the gap between Fastly's strategic ambitions in the competitive edge cloud and content delivery space and its current financial reality. An operating loss of $103.9 million is not a small miss — it signals that either revenue growth has stalled, costs have accelerated, or both. The fact that shares have been cut by more than a quarter in a single session suggests the results landed well outside the range of investor expectations and Wall Street consensus.

A few things are worth watching closely from here:

• Cost trajectory: The relationship between operating loss and net loss implies that financing costs or other below-the-line items are not dramatically amplifying the damage — the losses are fundamentally operational. Future quarters will need to show either a meaningful contraction in operating expenses or accelerating revenue to change the narrative.
• Cash runway: With losses of this magnitude per quarter, cash and liquidity become a central question. The 10-Q itself will contain the balance sheet and cash flow statement detail — investors should review those closely for signs of how much runway the company retains.
• Competitive positioning: Fastly operates in a market with formidable rivals. A quarter like this can accelerate customer uncertainty and enterprise sales cycles, making near-term revenue stabilization harder to achieve.
• Management commentary: Guidance language and management's explanation of the drivers behind the loss will be critical for assessing whether Q3 represents an inflection point or the continuation of a deteriorating trend.

This filing follows StockWatch's existing initiating coverage of Fastly. The Q3 results represent a materially changed data point for assessing the trajectory assumed at the time of that coverage, and readers are encouraged to revisit that analysis in light of this disclosure.

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Disclaimer

This report is a news and informational summary of a publicly filed SEC disclosure. It does not constitute investment advice, a solicitation to buy or sell any security, or an equity research recommendation. No rating or price target is issued or implied herein. All financial figures cited are sourced directly from Fastly's Form 10-Q XBRL data as filed with the SEC on November 4, 2026. Investors should conduct their own due diligence and consult a qualified financial professional before making investment decisions.

Existing Coverage

StockWatch has full coverage on FSLY, published 2026-09-09. Read our Initiating Coverage →

Source

Filed with the SEC on 2026-11-04. Read the original filing on EDGAR: https://www.sec.gov/Archives/edgar/data/1517413/000151741326000345/fsly-20260930.htm