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Side-by-side financial comparison of Fastly, Inc. (FSLY) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($173.0M vs $104.0M, roughly 1.7× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -11.9%, a 50.6% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (19.8% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $4.1M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (14.3% CAGR vs 12.5%).
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.
Nicolet Bankshares, Inc. is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.
FSLY vs NIC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.0M | $104.0M |
| Net Profit | $-20.5M | $40.3M |
| Gross Margin | 62.5% | — |
| Operating Margin | 23.7% | 48.3% |
| Net Margin | -11.9% | 38.8% |
| Revenue YoY | 19.8% | 12.5% |
| Net Profit YoY | 47.6% | 16.9% |
| EPS (diluted) | $-0.13 | $2.63 |
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 | $104.0M | ||
| Q3 25 | $158.2M | $102.9M | ||
| Q2 25 | $148.7M | $95.7M | ||
| Q1 25 | $144.5M | $89.4M | ||
| Q4 24 | $140.6M | $92.4M | ||
| Q3 24 | $137.2M | $90.7M | ||
| Q2 24 | $132.4M | $85.0M |
| Q1 26 | $-20.5M | — | ||
| Q4 25 | $-15.5M | $40.3M | ||
| Q3 25 | $-29.5M | $41.7M | ||
| Q2 25 | $-37.5M | $36.0M | ||
| Q1 25 | $-39.1M | $32.6M | ||
| Q4 24 | $-32.9M | $34.5M | ||
| Q3 24 | $-38.0M | $32.5M | ||
| Q2 24 | $-43.7M | $29.3M |
| 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% | 48.3% | ||
| Q3 25 | -18.2% | 50.4% | ||
| Q2 25 | -24.8% | 46.8% | ||
| Q1 25 | -26.4% | 44.9% | ||
| Q4 24 | -24.4% | 46.8% | ||
| Q3 24 | -29.6% | 45.0% | ||
| Q2 24 | -35.3% | 43.3% |
| Q1 26 | -11.9% | — | ||
| Q4 25 | -9.0% | 38.8% | ||
| Q3 25 | -18.6% | 40.6% | ||
| Q2 25 | -25.2% | 37.6% | ||
| Q1 25 | -27.1% | 36.4% | ||
| Q4 24 | -23.4% | 37.3% | ||
| Q3 24 | -27.7% | 35.8% | ||
| Q2 24 | -33.0% | 34.5% |
| Q1 26 | $-0.13 | — | ||
| Q4 25 | $-0.10 | $2.63 | ||
| Q3 25 | $-0.20 | $2.73 | ||
| Q2 25 | $-0.26 | $2.34 | ||
| Q1 25 | $-0.27 | $2.08 | ||
| Q4 24 | $-0.23 | $2.21 | ||
| Q3 24 | $-0.27 | $2.10 | ||
| Q2 24 | $-0.32 | $1.92 |
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 | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $977.1M | $1.3B |
| Total Assets | $1.5B | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $146.7M | — | ||
| Q4 25 | $361.8M | — | ||
| Q3 25 | $342.9M | — | ||
| Q2 25 | $321.2M | — | ||
| Q1 25 | $307.3M | — | ||
| Q4 24 | $295.9M | — | ||
| Q3 24 | $308.2M | — | ||
| Q2 24 | $311.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $134.9M | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $156.6M | ||
| Q4 24 | — | $161.4M | ||
| Q3 24 | — | $161.2M | ||
| Q2 24 | — | $162.4M |
| Q1 26 | $977.1M | — | ||
| Q4 25 | $929.6M | $1.3B | ||
| Q3 25 | $937.0M | $1.2B | ||
| Q2 25 | $942.6M | $1.2B | ||
| Q1 25 | $957.0M | $1.2B | ||
| Q4 24 | $965.3M | $1.2B | ||
| Q3 24 | $969.5M | $1.1B | ||
| Q2 24 | $981.2M | $1.1B |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $9.2B | ||
| Q3 25 | $1.5B | $9.0B | ||
| Q2 25 | $1.5B | $8.9B | ||
| Q1 25 | $1.4B | $9.0B | ||
| Q4 24 | $1.5B | $8.8B | ||
| Q3 24 | $1.5B | $8.6B | ||
| Q2 24 | $1.5B | $8.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× |
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 | $153.5M |
| Free Cash FlowOCF − Capex | $4.1M | $149.4M |
| FCF MarginFCF / Revenue | 2.4% | 143.7% |
| Capex IntensityCapex / Revenue | 14.3% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $55.2M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.9M | — | ||
| Q4 25 | $22.4M | $153.5M | ||
| Q3 25 | $28.9M | $45.9M | ||
| Q2 25 | $25.8M | $38.9M | ||
| Q1 25 | $17.3M | $41.8M | ||
| Q4 24 | $5.2M | $133.7M | ||
| Q3 24 | $5.0M | $39.6M | ||
| Q2 24 | $-4.9M | $37.3M |
| Q1 26 | $4.1M | — | ||
| Q4 25 | $12.2M | $149.4M | ||
| Q3 25 | $22.9M | $45.9M | ||
| Q2 25 | $15.9M | $38.4M | ||
| Q1 25 | $14.7M | $41.3M | ||
| Q4 24 | $251.0K | $116.8M | ||
| Q3 24 | $3.0M | $34.7M | ||
| Q2 24 | $-6.7M | $34.4M |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 7.1% | 143.7% | ||
| Q3 25 | 14.5% | 44.6% | ||
| Q2 25 | 10.7% | 40.1% | ||
| Q1 25 | 10.2% | 46.2% | ||
| Q4 24 | 0.2% | 126.4% | ||
| Q3 24 | 2.2% | 38.3% | ||
| Q2 24 | -5.1% | 40.5% |
| Q1 26 | 14.3% | — | ||
| Q4 25 | 5.9% | 3.9% | ||
| Q3 25 | 3.8% | 0.0% | ||
| Q2 25 | 6.6% | 0.6% | ||
| Q1 25 | 1.8% | 0.5% | ||
| Q4 24 | 3.5% | 18.3% | ||
| Q3 24 | 1.5% | 5.4% | ||
| Q2 24 | 1.3% | 3.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× |
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% |
NIC
Segment breakdown not available.
