Fastly Aims for $1.3 Billion in Revenue by 2029 Amid Rising AI Traffic
Fastly is targeting revenue between $1.1 billion and $1.3 billion by 2029, with gross margins of 67%–71%, operating margins of 20%–22%, and free-cash-flow margins of 12%–15%. The company's strategy centers on expanding its unified edge-cloud platform to capitalize on the growing demand for low-latency applications driven by AI traffic, which is increasing at six times the rate of human-generated traffic. Fastly processes over five trillion requests daily with a high customer satisfaction score and has seen three consecutive quarters of 20% year-over-year growth. Fastly's security business grew 43% in its latest quarter, becoming an important entry point for broader platform adoption. The company reports that 72% of customers now use at least two product suites, with a significant increase from just 7% two years ago. Fastly is also expanding into AI governance tools such as the AI Firewall and Runtime Control to help enterprises manage cloud-based AI activity across multiple models. The CEO highlighted a $22 billion total addressable market for existing products and emphasized that edge computing complements hyperscale cloud infrastructure by supporting workloads requiring proximity to end users. Fastly plans to expand its compute portfolio while maintaining a model-neutral, cloud-agnostic architecture.
Tickers: $FSLY
Topics: AI traffic growth edge computing revenue targets unified cloud platform