vs
Side-by-side financial comparison of Fastly, Inc. (FSLY) and ONTO INNOVATION INC. (ONTO). Click either name above to swap in a different company.
ONTO INNOVATION INC. is the larger business by last-quarter revenue ($218.2M vs $172.6M, roughly 1.3× Fastly, Inc.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs -9.0%, a 21.9% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs -13.5%). ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M vs $12.2M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 2.6%).
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.
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
FSLY vs ONTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $218.2M |
| Net Profit | $-15.5M | $28.2M |
| Gross Margin | 61.4% | 50.7% |
| Operating Margin | -8.7% | 10.9% |
| Net Margin | -9.0% | 12.9% |
| Revenue YoY | 22.8% | -13.5% |
| Net Profit YoY | 52.9% | -46.8% |
| EPS (diluted) | $-0.10 | $0.57 |
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 | — | ||
| Q3 25 | $158.2M | $218.2M | ||
| Q2 25 | $148.7M | $253.6M | ||
| Q1 25 | $144.5M | $266.6M | ||
| Q4 24 | $140.6M | $263.9M | ||
| Q3 24 | $137.2M | $252.2M | ||
| Q2 24 | $132.4M | $242.3M | ||
| Q1 24 | $133.5M | $228.8M |
| Q4 25 | $-15.5M | — | ||
| Q3 25 | $-29.5M | $28.2M | ||
| Q2 25 | $-37.5M | $33.9M | ||
| Q1 25 | $-39.1M | $64.1M | ||
| Q4 24 | $-32.9M | $48.8M | ||
| Q3 24 | $-38.0M | $53.1M | ||
| Q2 24 | $-43.7M | $52.9M | ||
| Q1 24 | $-43.4M | $46.9M |
| Q4 25 | 61.4% | — | ||
| Q3 25 | 58.4% | 50.7% | ||
| Q2 25 | 54.5% | 48.2% | ||
| Q1 25 | 53.2% | 53.7% | ||
| Q4 24 | 53.4% | 50.2% | ||
| Q3 24 | 54.5% | 54.1% | ||
| Q2 24 | 55.1% | 52.9% | ||
| Q1 24 | 54.8% | 51.7% |
| Q4 25 | -8.7% | — | ||
| Q3 25 | -18.2% | 10.9% | ||
| Q2 25 | -24.8% | 12.7% | ||
| Q1 25 | -26.4% | 23.7% | ||
| Q4 24 | -24.4% | 16.1% | ||
| Q3 24 | -29.6% | 21.0% | ||
| Q2 24 | -35.3% | 20.2% | ||
| Q1 24 | -34.6% | 18.7% |
| Q4 25 | -9.0% | — | ||
| Q3 25 | -18.6% | 12.9% | ||
| Q2 25 | -25.2% | 13.4% | ||
| Q1 25 | -27.1% | 24.0% | ||
| Q4 24 | -23.4% | 18.5% | ||
| Q3 24 | -27.7% | 21.0% | ||
| Q2 24 | -33.0% | 21.9% | ||
| Q1 24 | -32.5% | 20.5% |
| Q4 25 | $-0.10 | — | ||
| Q3 25 | $-0.20 | $0.57 | ||
| Q2 25 | $-0.26 | $0.69 | ||
| Q1 25 | $-0.27 | $1.30 | ||
| Q4 24 | $-0.23 | $0.98 | ||
| Q3 24 | $-0.27 | $1.07 | ||
| Q2 24 | $-0.32 | $1.07 | ||
| Q1 24 | $-0.32 | $0.94 |
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 | $603.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | $2.0B |
| Total Assets | $1.5B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $361.8M | — | ||
| Q3 25 | $342.9M | $603.1M | ||
| Q2 25 | $321.2M | $217.5M | ||
| Q1 25 | $307.3M | $203.7M | ||
| Q4 24 | $295.9M | $212.9M | ||
| Q3 24 | $308.2M | $188.7M | ||
| Q2 24 | $311.8M | $172.6M | ||
| Q1 24 | $329.5M | $190.9M |
| Q4 25 | $929.6M | — | ||
| Q3 25 | $937.0M | $2.0B | ||
| Q2 25 | $942.6M | $2.0B | ||
| Q1 25 | $957.0M | $1.9B | ||
| Q4 24 | $965.3M | $1.9B | ||
| Q3 24 | $969.5M | $1.9B | ||
| Q2 24 | $981.2M | $1.8B | ||
| Q1 24 | $991.8M | $1.8B |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $2.2B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.5B | $2.1B | ||
| Q3 24 | $1.5B | $2.1B | ||
| Q2 24 | $1.5B | $2.0B | ||
| Q1 24 | $1.5B | $2.0B |
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 | $83.4M |
| Free Cash FlowOCF − Capex | $12.2M | $82.0M |
| FCF MarginFCF / Revenue | 7.1% | 37.6% |
| Capex IntensityCapex / Revenue | 5.9% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.95× |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $261.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | — | ||
| Q3 25 | $28.9M | $83.4M | ||
| Q2 25 | $25.8M | $57.9M | ||
| Q1 25 | $17.3M | $92.0M | ||
| Q4 24 | $5.2M | $56.0M | ||
| Q3 24 | $5.0M | $67.2M | ||
| Q2 24 | $-4.9M | $65.3M | ||
| Q1 24 | $11.1M | $57.1M |
| Q4 25 | $12.2M | — | ||
| Q3 25 | $22.9M | $82.0M | ||
| Q2 25 | $15.9M | $44.2M | ||
| Q1 25 | $14.7M | $83.7M | ||
| Q4 24 | $251.0K | $51.4M | ||
| Q3 24 | $3.0M | $59.2M | ||
| Q2 24 | $-6.7M | $53.0M | ||
| Q1 24 | $9.5M | $50.2M |
| Q4 25 | 7.1% | — | ||
| Q3 25 | 14.5% | 37.6% | ||
| Q2 25 | 10.7% | 17.4% | ||
| Q1 25 | 10.2% | 31.4% | ||
| Q4 24 | 0.2% | 19.5% | ||
| Q3 24 | 2.2% | 23.5% | ||
| Q2 24 | -5.1% | 21.9% | ||
| Q1 24 | 7.1% | 21.9% |
| Q4 25 | 5.9% | — | ||
| Q3 25 | 3.8% | 0.6% | ||
| Q2 25 | 6.6% | 5.4% | ||
| Q1 25 | 1.8% | 3.1% | ||
| Q4 24 | 3.5% | 1.8% | ||
| Q3 24 | 1.5% | 3.2% | ||
| Q2 24 | 1.3% | 5.1% | ||
| Q1 24 | 1.2% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | — | 1.22× |
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% |
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
