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Side-by-side financial comparison of Fastly, Inc. (FSLY) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
GCM Grosvenor Inc. is the larger business by last-quarter revenue ($177.1M vs $173.0M, roughly 1.0× Fastly, Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs -11.9%, a 44.7% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (19.8% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $4.1M). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% CAGR vs 14.3%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
FSLY vs GCMG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.0M | $177.1M |
| Net Profit | $-20.5M | $58.2M |
| Gross Margin | 62.5% | — |
| Operating Margin | 23.7% | 30.9% |
| Net Margin | -11.9% | 32.8% |
| Revenue YoY | 19.8% | 7.2% |
| Net Profit YoY | 47.6% | 149.2% |
| EPS (diluted) | $-0.13 | $0.23 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $173.0M | — | ||
| Q4 25 | $172.6M | $177.1M | ||
| Q3 25 | $158.2M | $135.0M | ||
| Q2 25 | $148.7M | $119.7M | ||
| Q1 25 | $144.5M | $125.8M | ||
| Q4 24 | $140.6M | $165.3M | ||
| Q3 24 | $137.2M | $122.9M | ||
| Q2 24 | $132.4M | $117.0M |
| Q1 26 | $-20.5M | — | ||
| Q4 25 | $-15.5M | $58.2M | ||
| Q3 25 | $-29.5M | $10.5M | ||
| Q2 25 | $-37.5M | $15.4M | ||
| Q1 25 | $-39.1M | $463.0K | ||
| Q4 24 | $-32.9M | $7.6M | ||
| Q3 24 | $-38.0M | $4.2M | ||
| Q2 24 | $-43.7M | $4.8M |
| Q1 26 | 62.5% | — | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | 54.5% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.4% | — | ||
| Q3 24 | 54.5% | — | ||
| Q2 24 | 55.1% | — |
| Q1 26 | 23.7% | — | ||
| Q4 25 | -8.7% | 30.9% | ||
| Q3 25 | -18.2% | 32.7% | ||
| Q2 25 | -24.8% | 16.1% | ||
| Q1 25 | -26.4% | 12.2% | ||
| Q4 24 | -24.4% | 26.4% | ||
| Q3 24 | -29.6% | 20.3% | ||
| Q2 24 | -35.3% | 17.8% |
| Q1 26 | -11.9% | — | ||
| Q4 25 | -9.0% | 32.8% | ||
| Q3 25 | -18.6% | 7.8% | ||
| Q2 25 | -25.2% | 12.9% | ||
| Q1 25 | -27.1% | 0.4% | ||
| Q4 24 | -23.4% | 4.6% | ||
| Q3 24 | -27.7% | 3.4% | ||
| Q2 24 | -33.0% | 4.1% |
| Q1 26 | $-0.13 | — | ||
| Q4 25 | $-0.10 | $0.23 | ||
| Q3 25 | $-0.20 | $0.16 | ||
| Q2 25 | $-0.26 | $0.05 | ||
| Q1 25 | $-0.27 | $-0.02 | ||
| Q4 24 | $-0.23 | $0.09 | ||
| Q3 24 | $-0.27 | $0.03 | ||
| Q2 24 | $-0.32 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $146.7M | $242.1M |
| Total DebtLower is stronger | — | $428.4M |
| Stockholders' EquityBook value | $977.1M | $27.0M |
| Total Assets | $1.5B | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $146.7M | — | ||
| Q4 25 | $361.8M | $242.1M | ||
| Q3 25 | $342.9M | $182.7M | ||
| Q2 25 | $321.2M | $136.3M | ||
| Q1 25 | $307.3M | $94.5M | ||
| Q4 24 | $295.9M | $89.5M | ||
| Q3 24 | $308.2M | $98.4M | ||
| Q2 24 | $311.8M | $73.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | — | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M |
| Q1 26 | $977.1M | — | ||
| Q4 25 | $929.6M | $27.0M | ||
| Q3 25 | $937.0M | $-7.4M | ||
| Q2 25 | $942.6M | $-12.3M | ||
| Q1 25 | $957.0M | $-28.3M | ||
| Q4 24 | $965.3M | $-27.6M | ||
| Q3 24 | $969.5M | $-31.9M | ||
| Q2 24 | $981.2M | $-28.5M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $813.8M | ||
| Q3 25 | $1.5B | $685.9M | ||
| Q2 25 | $1.5B | $636.9M | ||
| Q1 25 | $1.4B | $579.8M | ||
| Q4 24 | $1.5B | $612.7M | ||
| Q3 24 | $1.5B | $575.0M | ||
| Q2 24 | $1.5B | $543.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.87× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $28.9M | $183.5M |
| Free Cash FlowOCF − Capex | $4.1M | $175.0M |
| FCF MarginFCF / Revenue | 2.4% | 98.8% |
| Capex IntensityCapex / Revenue | 14.3% | 4.8% |
| Cash ConversionOCF / Net Profit | — | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $55.2M | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.9M | — | ||
| Q4 25 | $22.4M | $183.5M | ||
| Q3 25 | $28.9M | $79.8M | ||
| Q2 25 | $25.8M | $42.0M | ||
| Q1 25 | $17.3M | $33.3M | ||
| Q4 24 | $5.2M | $148.8M | ||
| Q3 24 | $5.0M | $69.0M | ||
| Q2 24 | $-4.9M | $17.5M |
| Q1 26 | $4.1M | — | ||
| Q4 25 | $12.2M | $175.0M | ||
| Q3 25 | $22.9M | $78.3M | ||
| Q2 25 | $15.9M | $40.8M | ||
| Q1 25 | $14.7M | $32.1M | ||
| Q4 24 | $251.0K | $132.0M | ||
| Q3 24 | $3.0M | $62.2M | ||
| Q2 24 | $-6.7M | $12.8M |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 7.1% | 98.8% | ||
| Q3 25 | 14.5% | 58.0% | ||
| Q2 25 | 10.7% | 34.1% | ||
| Q1 25 | 10.2% | 25.5% | ||
| Q4 24 | 0.2% | 79.9% | ||
| Q3 24 | 2.2% | 50.6% | ||
| Q2 24 | -5.1% | 10.9% |
| Q1 26 | 14.3% | — | ||
| Q4 25 | 5.9% | 4.8% | ||
| Q3 25 | 3.8% | 1.1% | ||
| Q2 25 | 6.6% | 1.0% | ||
| Q1 25 | 1.8% | 0.9% | ||
| Q4 24 | 3.5% | 10.1% | ||
| Q3 24 | 1.5% | 5.5% | ||
| Q2 24 | 1.3% | 4.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 7.61× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | — | 71.84× | ||
| Q4 24 | — | 19.54× | ||
| Q3 24 | — | 16.60× | ||
| Q2 24 | — | 3.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSLY
| Network Services | $126.2M | 73% |
| Security | $38.8M | 22% |
| Other | $8.0M | 5% |
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
