Fastly Customer and Revenue Statistics: How Many Businesses Use Fastly in 2023?

Fastly is an edge cloud platform. The company delivers cloud computing services to 2,084 customers, spanning industries from digital publishing to online education.

High-profile brands like The New York Times use Fastly’s content delivery network to manage traffic spikes and improve page load speeds.

And since the acquisition of Signal Sciences in 2020, Fastly has offered security services focused on web applications and APIs.

Continue reading to find the latest information on Fastly in 2023.

Let’s get right into the data:

• Top Picks
• Fastly customers
• Fastly enterprise customers
• Signal Sciences customers
• How many websites use Fastly?
• Fastly annual revenue
• Where are Fastly’s customers located?
• Fastly revenue by segment
• Fastly average customer spend
• Fastly revenue from largest customers
• How many people work at Fastly?

Top Picks

• Fastly has 2,084 paying customers.
• Fastly generated $290.87 million in annual revenue in 2020.
• The 10 largest Fastly accounts contribute 38% of the company’s annual revenue.
• The average Fastly customer spends $136,000 per year.
• Fastly has 939 employees.

Fastly customers

Fastly has 2,084 paying customers.

In the 2019-20 period, the company added 341 customers. Which is the largest number of net annual additions on record, dating back to 2017.

We’ve charted the growth in Fastly’s customer base over time:

Source: Fastly.

Fastly enterprise customers

Fastly defines enterprise customers on the basis of company revenue. Businesses generating at least $100,000 over the previous 12-month period are classed as enterprise accounts.

Fastly has 324 enterprise customers. That’s an increase of 12.5% (36 net additions) since the end of 2019.

Growth in the enterprise business has slowed down compared to previous years. Fastly made a net gain of 61 new enterprise customers in 2019. And added 57 enterprise clients in 2018.

Here’s a table with the number of Fastly enterprise customers since 2017:

Signal Sciences customers

Fastly completed the acquisition of Signal Sciences for $759.4 million in October 2020. The deal was structured as a mixture of cash ($223 million) and stock.

As per the Fastly press release announcing the deal, Signal Sciences offers “web application and API protection solutions”. The acquisition brought Fastly firmly into the web security sector.

SEC filings from the end of 2020 show that Signal Sciences has 280 customers. 78 clients (27.86%) have an annualized spend of more than $100,000.

Source: Fastly.

How many websites use Fastly?

1.03 million live websites use Fastly’s content delivery and analytics network. Of the 10,000 most popular websites in the world (ranked by traffic volume), 1,483 (14.83%) use Fastly.

Source: BuiltWith.

Fastly annual revenue

Fastly generates $290.87 million in annual revenue. That’s an increase of 45.1% compared to 2019 when the company made $200.45 million.

Between 2017 and 2020, Fastly’s annual revenue has grown at a CAGR of 40.49%.

Here’s a table showing the growth in Fastly’s annual revenue since 2017:

Source: Fastly.

Where are Fastly’s customers located?

More than two-thirds (67.57%) of Fastly revenue comes from customers with billing addresses in the US. That amounts to $196.54 million.

Revenue from American customers grew by 37.6% in 2020. Worldwide revenue grew at a slightly faster rate (45.1%).

In fact, the US share of Fastly’s total revenue has been on a consistent decline since 2017:

Fastly customers in the Asia Pacific region spent a total of $44.06 million on company products in 2020. Revenue from the region increased 134.36% over 2019, making it the fastest-growing market worldwide.

In fact, Fastly revenue in the Asia Pacific region has grown 6.13x since 2018.

The Asia Pacific also replaced Europe as Fastly’s 2nd largest market in 2020.

Here’s a table with Fastly’s annual revenue in the Asia Pacific region since 2018. The numbers in brackets indicate the share of total company revenue:

Fastly customers with payment addresses in Europe contribute $32.77 million in annual revenue. The European region has shown year-over-year revenue growth of 18.77%, significantly lower than the global 45.1% growth rate.

We’ve charted Fastly’s revenue growth in Europe (including the share of the global total) since 2018:

Among customers outside of the US, Asia Pacific and Europe Fastly reports annual revenue of $17.5 million. A year over year increase of 55.97%.

Here’s a table showing international Fastly revenue (excl. US, Asia Pacific and Europe) since 2018:

Source: Fastly.

Fastly revenue by segment

Fastly’s 324 enterprise customers account for $256.48 million in annual revenue. That’s 88.18% of total company revenue.

(Fastly defines an enterprise customer as any business with an annualized revenue of over $100,000.)

The share of Fastly revenue coming from enterprise customers has been on the rise consistently since 2017. At that time, enterprise clients made up 82.13% of the business.

Here’s a table showing Fastly revenue from the enterprise segment since 2017:

Fastly generates $34.39 million in annual revenue from the non-enterprise segment, up 34.65% compared to last year.

Fastly has 1,760 non-enterprise clients (70.06% of all customers). These accounts contribute 11.82% of Fastly’s total revenue.

Here’s a table charting Fastly’s non-enterprise revenue since 2017:

Source: Fastly.

Fastly average customer spend

The average annual spend for a Fastly customer is $136,000. That’s an increase of 26.34% since 2019.

Here’s a breakdown of the average annual customer spend since 2018:

Source: Fastly.

Fastly revenue from largest customers

Fastly’s top 10 largest customers (by spend) generated 38% of company revenue in 2020, totaling $110.54 million.

Over the last 4 years, Fastly’s 10 biggest clients have contributed $214.93 million. That’s 34.25% of the total revenue generated during the period.

Here’s a table showing the share of Fastly revenue coming from its 10 key accounts since 2017:

Source: Fastly.

How many people work at Fastly?

Fastly has 939 employees.

Fastly’s headcount has grown by 49.05% since 2019, amounting to 309 new employees. Just under half of this growth can be attributed to the acquisition of Signal Sciences, which brought 149 new employees onboard.

302 Fastly employees (32.16% of the total workforce) are in the research & development group.

The number of Fastly employees has grown 2.48x since 2017:

The average annual salary at Fastly is an estimated $131,287. The median base salary of employees on an H1-B visa is $163,750.

Sources: Fastly, Comparably, H1B Salary Database.

Conclusion

That’s it for my list of Fastly customer and revenue statistics in 2023.

Fastly is a growing player in the IaaS space. The industry as a whole is forecast to be worth $201.83 billion by 2027.

Do you think Fastly is poised to grow its share of this exciting market?

Or is it overvalued?

I’d also love to hear about any other stats you think should have been included here. Or other companies for which you’d like to see a roundup.

Just drop me a comment below.