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Side-by-side financial comparison of Fastly, Inc. (FSLY) and MARA Holdings, Inc. (MARA). Click either name above to swap in a different company.
MARA Holdings, Inc. is the larger business by last-quarter revenue ($202.3M vs $173.0M, roughly 1.2× Fastly, Inc.). Fastly, Inc. runs the higher net margin — -11.9% vs -14298.3%, a 14286.4% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (19.8% vs -5.6%). Fastly, Inc. produced more free cash flow last quarter ($4.1M vs $-1.2B). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (14.3% CAGR vs 10.7%).
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.
MARA Holdings, Inc. is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the late 2010s to focus on blockchain infrastructure and digital assets.
FSLY vs MARA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.0M | $202.3M |
| Net Profit | $-20.5M | $-1.7B |
| Gross Margin | 62.5% | — |
| Operating Margin | 23.7% | -11795.9% |
| Net Margin | -11.9% | -14298.3% |
| Revenue YoY | 19.8% | -5.6% |
| Net Profit YoY | 47.6% | -423.5% |
| EPS (diluted) | $-0.13 | $-4.25 |
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 | $202.3M | ||
| Q3 25 | $158.2M | $252.4M | ||
| Q2 25 | $148.7M | $238.5M | ||
| Q1 25 | $144.5M | $213.9M | ||
| Q4 24 | $140.6M | $214.4M | ||
| Q3 24 | $137.2M | $131.6M | ||
| Q2 24 | $132.4M | $145.1M |
| Q1 26 | $-20.5M | — | ||
| Q4 25 | $-15.5M | $-1.7B | ||
| Q3 25 | $-29.5M | $123.1M | ||
| Q2 25 | $-37.5M | $808.2M | ||
| Q1 25 | $-39.1M | $-533.4M | ||
| Q4 24 | $-32.9M | $528.5M | ||
| Q3 24 | $-38.0M | $-124.8M | ||
| Q2 24 | $-43.7M | $-199.7M |
| Q1 26 | 62.5% | — | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | 54.5% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.4% | -2613.4% | ||
| Q3 24 | 54.5% | -1065.0% | ||
| Q2 24 | 55.1% | -587.6% |
| Q1 26 | 23.7% | — | ||
| Q4 25 | -8.7% | -11795.9% | ||
| Q3 25 | -18.2% | 18.9% | ||
| Q2 25 | -24.8% | — | ||
| Q1 25 | -26.4% | -253.0% | ||
| Q4 24 | -24.4% | — | ||
| Q3 24 | -29.6% | -130.8% | ||
| Q2 24 | -35.3% | -160.1% |
| Q1 26 | -11.9% | — | ||
| Q4 25 | -9.0% | -14298.3% | ||
| Q3 25 | -18.6% | 48.8% | ||
| Q2 25 | -25.2% | 338.9% | ||
| Q1 25 | -27.1% | -249.4% | ||
| Q4 24 | -23.4% | 5367.4% | ||
| Q3 24 | -27.7% | -94.8% | ||
| Q2 24 | -33.0% | -137.6% |
| Q1 26 | $-0.13 | — | ||
| Q4 25 | $-0.10 | $-4.25 | ||
| Q3 25 | $-0.20 | $0.27 | ||
| Q2 25 | $-0.26 | $1.84 | ||
| Q1 25 | $-0.27 | $-1.55 | ||
| Q4 24 | $-0.23 | $1.60 | ||
| Q3 24 | $-0.27 | $-0.42 | ||
| Q2 24 | $-0.32 | $-0.72 |
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 | $547.1M |
| Total DebtLower is stronger | — | $3.6B |
| Stockholders' EquityBook value | $977.1M | $3.5B |
| Total Assets | $1.5B | $7.3B |
| Debt / EquityLower = less leverage | — | 1.04× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $146.7M | — | ||
| Q4 25 | $361.8M | $547.1M | ||
| Q3 25 | $342.9M | $826.4M | ||
| Q2 25 | $321.2M | $109.5M | ||
| Q1 25 | $307.3M | $196.2M | ||
| Q4 24 | $295.9M | $391.8M | ||
| Q3 24 | $308.2M | $164.3M | ||
| Q2 24 | $311.8M | $256.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.6B | ||
| Q3 25 | — | $3.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $618.7M | ||
| Q2 24 | — | — |
| Q1 26 | $977.1M | — | ||
| Q4 25 | $929.6M | $3.5B | ||
| Q3 25 | $937.0M | $5.2B | ||
| Q2 25 | $942.6M | $4.8B | ||
| Q1 25 | $957.0M | $3.7B | ||
| Q4 24 | $965.3M | $4.1B | ||
| Q3 24 | $969.5M | $2.9B | ||
| Q2 24 | $981.2M | $2.6B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $7.3B | ||
| Q3 25 | $1.5B | $9.2B | ||
| Q2 25 | $1.5B | $7.7B | ||
| Q1 25 | $1.4B | $6.4B | ||
| Q4 24 | $1.5B | $6.8B | ||
| Q3 24 | $1.5B | $3.6B | ||
| Q2 24 | $1.5B | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.04× | ||
| Q3 25 | — | 0.63× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.22× | ||
| 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 | $-802.7M |
| Free Cash FlowOCF − Capex | $4.1M | $-1.2B |
| FCF MarginFCF / Revenue | 2.4% | -598.0% |
| Capex IntensityCapex / Revenue | 14.3% | 201.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $55.2M | $-2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.9M | — | ||
| Q4 25 | $22.4M | $-802.7M | ||
| Q3 25 | $28.9M | $-199.0M | ||
| Q2 25 | $25.8M | $-163.4M | ||
| Q1 25 | $17.3M | $-215.5M | ||
| Q4 24 | $5.2M | $-677.0M | ||
| Q3 24 | $5.0M | $-160.1M | ||
| Q2 24 | $-4.9M | $-115.2M |
| Q1 26 | $4.1M | — | ||
| Q4 25 | $12.2M | $-1.2B | ||
| Q3 25 | $22.9M | $-283.9M | ||
| Q2 25 | $15.9M | $-282.4M | ||
| Q1 25 | $14.7M | $-254.3M | ||
| Q4 24 | $251.0K | $-927.8M | ||
| Q3 24 | $3.0M | $-198.1M | ||
| Q2 24 | $-6.7M | $-132.4M |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 7.1% | -598.0% | ||
| Q3 25 | 14.5% | -112.5% | ||
| Q2 25 | 10.7% | -118.4% | ||
| Q1 25 | 10.2% | -118.9% | ||
| Q4 24 | 0.2% | -432.8% | ||
| Q3 24 | 2.2% | -150.5% | ||
| Q2 24 | -5.1% | -91.2% |
| Q1 26 | 14.3% | — | ||
| Q4 25 | 5.9% | 201.2% | ||
| Q3 25 | 3.8% | 33.6% | ||
| Q2 25 | 6.6% | 49.9% | ||
| Q1 25 | 1.8% | 18.2% | ||
| Q4 24 | 3.5% | 117.0% | ||
| Q3 24 | 1.5% | 28.9% | ||
| Q2 24 | 1.3% | 11.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -1.62× | ||
| Q2 25 | — | -0.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
MARA
Segment breakdown not available.
