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Side-by-side financial comparison of Fastly, Inc. (FSLY) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($172.6M vs $165.3M, roughly 1.0× INDEPENDENCE REALTY TRUST, INC.). On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 2.5%). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 2.2%).
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.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
FSLY vs IRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $165.3M |
| Net Profit | $-15.5M | — |
| Gross Margin | 61.4% | — |
| Operating Margin | -8.7% | — |
| Net Margin | -9.0% | — |
| Revenue YoY | 22.8% | 2.5% |
| Net Profit YoY | 52.9% | — |
| EPS (diluted) | $-0.10 | $0.00 |
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 | — | $165.3M | ||
| Q4 25 | $172.6M | $167.1M | ||
| Q3 25 | $158.2M | $167.1M | ||
| Q2 25 | $148.7M | $162.2M | ||
| Q1 25 | $144.5M | $161.2M | ||
| Q4 24 | $140.6M | $161.0M | ||
| Q3 24 | $137.2M | $160.1M | ||
| Q2 24 | $132.4M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-15.5M | $33.3M | ||
| Q3 25 | $-29.5M | $6.9M | ||
| Q2 25 | $-37.5M | $8.0M | ||
| Q1 25 | $-39.1M | $8.4M | ||
| Q4 24 | $-32.9M | $-1.0M | ||
| Q3 24 | $-38.0M | $12.4M | ||
| Q2 24 | $-43.7M | $10.4M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| Q4 25 | -8.7% | — | ||
| Q3 25 | -18.2% | — | ||
| Q2 25 | -24.8% | — | ||
| Q1 25 | -26.4% | — | ||
| Q4 24 | -24.4% | — | ||
| Q3 24 | -29.6% | — | ||
| Q2 24 | -35.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | -9.0% | 19.9% | ||
| Q3 25 | -18.6% | 4.1% | ||
| Q2 25 | -25.2% | 5.0% | ||
| Q1 25 | -27.1% | 5.2% | ||
| Q4 24 | -23.4% | -0.6% | ||
| Q3 24 | -27.7% | 7.7% | ||
| Q2 24 | -33.0% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $-0.10 | $0.14 | ||
| Q3 25 | $-0.20 | $0.03 | ||
| Q2 25 | $-0.26 | $0.03 | ||
| Q1 25 | $-0.27 | $0.04 | ||
| Q4 24 | $-0.23 | $-0.01 | ||
| Q3 24 | $-0.27 | $0.05 | ||
| Q2 24 | $-0.32 | $0.05 |
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 | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | $3.4B |
| Total Assets | $1.5B | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $361.8M | $23.6M | ||
| Q3 25 | $342.9M | $23.3M | ||
| Q2 25 | $321.2M | $19.5M | ||
| Q1 25 | $307.3M | $29.1M | ||
| Q4 24 | $295.9M | $21.2M | ||
| Q3 24 | $308.2M | $17.6M | ||
| Q2 24 | $311.8M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $929.6M | $3.5B | ||
| Q3 25 | $937.0M | $3.5B | ||
| Q2 25 | $942.6M | $3.4B | ||
| Q1 25 | $957.0M | $3.5B | ||
| Q4 24 | $965.3M | $3.4B | ||
| Q3 24 | $969.5M | $3.4B | ||
| Q2 24 | $981.2M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $1.5B | $6.0B | ||
| Q3 25 | $1.5B | $6.1B | ||
| Q2 25 | $1.5B | $6.0B | ||
| Q1 25 | $1.4B | $6.0B | ||
| Q4 24 | $1.5B | $6.1B | ||
| Q3 24 | $1.5B | $5.9B | ||
| Q2 24 | $1.5B | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $282.1M | ||
| Q3 25 | $28.9M | $79.3M | ||
| Q2 25 | $25.8M | $82.2M | ||
| Q1 25 | $17.3M | $60.4M | ||
| Q4 24 | $5.2M | $259.8M | ||
| Q3 24 | $5.0M | $69.2M | ||
| Q2 24 | $-4.9M | $83.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 8.48× | ||
| Q3 25 | — | 11.51× | ||
| Q2 25 | — | 10.22× | ||
| Q1 25 | — | 7.23× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.60× | ||
| Q2 24 | — | 8.02× |
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% |
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
