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Side-by-side financial comparison of Fastly, Inc. (FSLY) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($172.6M vs $114.8M, roughly 1.5× HA Sustainable Infrastructure Capital, Inc.). Fastly, Inc. runs the higher net margin — -9.0% vs -46.8%, a 37.8% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 13.3%). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 4.2%).
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.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
FSLY vs HASI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $114.8M |
| Net Profit | $-15.5M | $-53.8M |
| Gross Margin | 61.4% | — |
| Operating Margin | -8.7% | -57.4% |
| Net Margin | -9.0% | -46.8% |
| Revenue YoY | 22.8% | 13.3% |
| Net Profit YoY | 52.9% | -176.7% |
| EPS (diluted) | $-0.10 | $-0.38 |
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.
| Q4 25 | $172.6M | $114.8M | ||
| Q3 25 | $158.2M | $103.1M | ||
| Q2 25 | $148.7M | $85.7M | ||
| Q1 25 | $144.5M | $96.9M | ||
| Q4 24 | $140.6M | $101.3M | ||
| Q3 24 | $137.2M | $82.0M | ||
| Q2 24 | $132.4M | $94.5M | ||
| Q1 24 | $133.5M | $105.8M |
| Q4 25 | $-15.5M | $-53.8M | ||
| Q3 25 | $-29.5M | $83.3M | ||
| Q2 25 | $-37.5M | $98.4M | ||
| Q1 25 | $-39.1M | $56.6M | ||
| Q4 24 | $-32.9M | $70.1M | ||
| Q3 24 | $-38.0M | $-19.6M | ||
| Q2 24 | $-43.7M | $26.5M | ||
| Q1 24 | $-43.4M | $123.0M |
| 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 24 | 54.8% | — |
| Q4 25 | -8.7% | -57.4% | ||
| Q3 25 | -18.2% | — | ||
| Q2 25 | -24.8% | — | ||
| Q1 25 | -26.4% | 84.7% | ||
| Q4 24 | -24.4% | 90.9% | ||
| Q3 24 | -29.6% | -32.1% | ||
| Q2 24 | -35.3% | 39.5% | ||
| Q1 24 | -34.6% | — |
| Q4 25 | -9.0% | -46.8% | ||
| Q3 25 | -18.6% | 80.8% | ||
| Q2 25 | -25.2% | 114.9% | ||
| Q1 25 | -27.1% | 58.4% | ||
| Q4 24 | -23.4% | 69.2% | ||
| Q3 24 | -27.7% | -23.9% | ||
| Q2 24 | -33.0% | 28.1% | ||
| Q1 24 | -32.5% | 116.3% |
| Q4 25 | $-0.10 | $-0.38 | ||
| Q3 25 | $-0.20 | $0.61 | ||
| Q2 25 | $-0.26 | $0.74 | ||
| Q1 25 | $-0.27 | $0.44 | ||
| Q4 24 | $-0.23 | $0.58 | ||
| Q3 24 | $-0.27 | $-0.17 | ||
| Q2 24 | $-0.32 | $0.23 | ||
| Q1 24 | $-0.32 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $361.8M | $110.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | $2.7B |
| Total Assets | $1.5B | $8.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $361.8M | $110.2M | ||
| Q3 25 | $342.9M | $301.8M | ||
| Q2 25 | $321.2M | $86.5M | ||
| Q1 25 | $307.3M | $67.4M | ||
| Q4 24 | $295.9M | $129.8M | ||
| Q3 24 | $308.2M | $44.1M | ||
| Q2 24 | $311.8M | $145.7M | ||
| Q1 24 | $329.5M | $61.4M |
| Q4 25 | $929.6M | $2.7B | ||
| Q3 25 | $937.0M | $2.7B | ||
| Q2 25 | $942.6M | $2.6B | ||
| Q1 25 | $957.0M | $2.5B | ||
| Q4 24 | $965.3M | $2.4B | ||
| Q3 24 | $969.5M | $2.3B | ||
| Q2 24 | $981.2M | $2.3B | ||
| Q1 24 | $991.8M | $2.3B |
| Q4 25 | $1.5B | $8.2B | ||
| Q3 25 | $1.5B | $8.2B | ||
| Q2 25 | $1.5B | $7.6B | ||
| Q1 25 | $1.4B | $7.5B | ||
| Q4 24 | $1.5B | $7.1B | ||
| Q3 24 | $1.5B | $6.7B | ||
| Q2 24 | $1.5B | $6.7B | ||
| Q1 24 | $1.5B | $6.7B |
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 | $22.4M | $167.3M |
| Free Cash FlowOCF − Capex | $12.2M | — |
| FCF MarginFCF / Revenue | 7.1% | — |
| Capex IntensityCapex / Revenue | 5.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $167.3M | ||
| Q3 25 | $28.9M | $-121.8M | ||
| Q2 25 | $25.8M | $79.6M | ||
| Q1 25 | $17.3M | $-37.1M | ||
| Q4 24 | $5.2M | $5.9M | ||
| Q3 24 | $5.0M | $21.9M | ||
| Q2 24 | $-4.9M | $-24.8M | ||
| Q1 24 | $11.1M | $20.9M |
| Q4 25 | $12.2M | — | ||
| Q3 25 | $22.9M | — | ||
| Q2 25 | $15.9M | — | ||
| Q1 25 | $14.7M | — | ||
| Q4 24 | $251.0K | — | ||
| Q3 24 | $3.0M | — | ||
| Q2 24 | $-6.7M | — | ||
| Q1 24 | $9.5M | — |
| Q4 25 | 7.1% | — | ||
| Q3 25 | 14.5% | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 10.2% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | -5.1% | — | ||
| Q1 24 | 7.1% | — |
| Q4 25 | 5.9% | — | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 3.5% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | -0.66× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.94× | ||
| Q1 24 | — | 0.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
HASI
Segment breakdown not available.
