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Cloud company Fastly (NYSE: FSLY) has reported a narrower net loss for the fourth quarter of 2022, aided by an increase in revenues.
Fourth-quarter revenues increased 22% from last year to $119.3 million. As a result, the adjusted net loss narrowed to $0.08 per share in the December quarter from $0.10 per share in the same period of 2021. The unadjusted loss was $46.7 million or $0.38 per share, compared to a loss of $57.5 million or $0.49 per share a year earlier.
“We are excited to close out 2022 with another record quarter, exceeding the top end of our guidance range while demonstrating a significant improvement to gross margin,” said Todd Nightingale, CEO of Fastly.
