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Side-by-side financial comparison of Fastly, Inc. (FSLY) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($173.0M vs $88.4M, roughly 2.0× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -11.9%, a 30.2% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (19.8% vs 18.7%). Fastly, Inc. produced more free cash flow last quarter ($4.1M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 14.3%).
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.
OPAL Fuels Inc. is a North American energy company focused on producing and distributing low-carbon renewable natural gas (RNG). It captures methane from landfills, dairy operations and other organic waste streams to produce RNG, which is mainly supplied to heavy-duty transportation fleets, commercial logistics operators and public transport entities to help reduce their greenhouse gas emissions.
FSLY vs OPAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $173.0M | $88.4M |
| Net Profit | $-20.5M | $16.2M |
| Gross Margin | 62.5% | — |
| Operating Margin | 23.7% | 7.5% |
| Net Margin | -11.9% | 18.3% |
| Revenue YoY | 19.8% | 18.7% |
| Net Profit YoY | 47.6% | 401.5% |
| EPS (diluted) | $-0.13 | $0.08 |
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 | $88.4M | ||
| Q3 25 | $158.2M | $77.9M | ||
| Q2 25 | $148.7M | $77.4M | ||
| Q1 25 | $144.5M | $83.0M | ||
| Q4 24 | $140.6M | $74.5M | ||
| Q3 24 | $137.2M | $82.6M | ||
| Q2 24 | $132.4M | $69.8M |
| Q1 26 | $-20.5M | — | ||
| Q4 25 | $-15.5M | $16.2M | ||
| Q3 25 | $-29.5M | $11.4M | ||
| Q2 25 | $-37.5M | $7.6M | ||
| Q1 25 | $-39.1M | $1.3M | ||
| Q4 24 | $-32.9M | $-5.4M | ||
| Q3 24 | $-38.0M | $17.1M | ||
| Q2 24 | $-43.7M | $1.9M |
| 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% | 7.5% | ||
| Q3 25 | -18.2% | 4.6% | ||
| Q2 25 | -24.8% | -1.1% | ||
| Q1 25 | -26.4% | -2.3% | ||
| Q4 24 | -24.4% | -0.5% | ||
| Q3 24 | -29.6% | 14.9% | ||
| Q2 24 | -35.3% | 8.1% |
| Q1 26 | -11.9% | — | ||
| Q4 25 | -9.0% | 18.3% | ||
| Q3 25 | -18.6% | 14.6% | ||
| Q2 25 | -25.2% | 9.8% | ||
| Q1 25 | -27.1% | 1.5% | ||
| Q4 24 | -23.4% | -7.2% | ||
| Q3 24 | -27.7% | 20.7% | ||
| Q2 24 | -33.0% | 2.7% |
| Q1 26 | $-0.13 | — | ||
| Q4 25 | $-0.10 | $0.08 | ||
| Q3 25 | $-0.20 | $0.05 | ||
| Q2 25 | $-0.26 | $0.03 | ||
| Q1 25 | $-0.27 | $-0.01 | ||
| Q4 24 | $-0.23 | $-0.05 | ||
| Q3 24 | $-0.27 | $0.09 | ||
| Q2 24 | $-0.32 | $-0.01 |
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 | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $977.1M | $-12.9M |
| Total Assets | $1.5B | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $146.7M | — | ||
| Q4 25 | $361.8M | $24.4M | ||
| Q3 25 | $342.9M | $29.9M | ||
| Q2 25 | $321.2M | $29.3M | ||
| Q1 25 | $307.3M | $40.1M | ||
| Q4 24 | $295.9M | $24.3M | ||
| Q3 24 | $308.2M | $31.0M | ||
| Q2 24 | $311.8M | $27.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $361.3M | ||
| Q3 25 | — | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | — | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M |
| Q1 26 | $977.1M | — | ||
| Q4 25 | $929.6M | $-12.9M | ||
| Q3 25 | $937.0M | $7.5M | ||
| Q2 25 | $942.6M | $-25.0M | ||
| Q1 25 | $957.0M | $57.1M | ||
| Q4 24 | $965.3M | $-148.4M | ||
| Q3 24 | $969.5M | $-180.1M | ||
| Q2 24 | $981.2M | $-273.0M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.5B | $959.5M | ||
| Q3 25 | $1.5B | $916.7M | ||
| Q2 25 | $1.5B | $905.5M | ||
| Q1 25 | $1.4B | $884.9M | ||
| Q4 24 | $1.5B | $881.1M | ||
| Q3 24 | $1.5B | $831.1M | ||
| Q2 24 | $1.5B | $782.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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 | $-3.5M |
| Free Cash FlowOCF − Capex | $4.1M | $-13.4M |
| FCF MarginFCF / Revenue | 2.4% | -15.1% |
| Capex IntensityCapex / Revenue | 14.3% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $55.2M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $28.9M | — | ||
| Q4 25 | $22.4M | $-3.5M | ||
| Q3 25 | $28.9M | $18.2M | ||
| Q2 25 | $25.8M | $-7.9M | ||
| Q1 25 | $17.3M | $29.7M | ||
| Q4 24 | $5.2M | $-532.0K | ||
| Q3 24 | $5.0M | $17.7M | ||
| Q2 24 | $-4.9M | $533.0K |
| Q1 26 | $4.1M | — | ||
| Q4 25 | $12.2M | $-13.4M | ||
| Q3 25 | $22.9M | $-9.3M | ||
| Q2 25 | $15.9M | $-29.7M | ||
| Q1 25 | $14.7M | $18.1M | ||
| Q4 24 | $251.0K | $-55.0M | ||
| Q3 24 | $3.0M | $-5.4M | ||
| Q2 24 | $-6.7M | $-22.5M |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 7.1% | -15.1% | ||
| Q3 25 | 14.5% | -11.9% | ||
| Q2 25 | 10.7% | -38.4% | ||
| Q1 25 | 10.2% | 21.8% | ||
| Q4 24 | 0.2% | -73.8% | ||
| Q3 24 | 2.2% | -6.5% | ||
| Q2 24 | -5.1% | -32.2% |
| Q1 26 | 14.3% | — | ||
| Q4 25 | 5.9% | 11.1% | ||
| Q3 25 | 3.8% | 35.3% | ||
| Q2 25 | 6.6% | 28.2% | ||
| Q1 25 | 1.8% | 13.9% | ||
| Q4 24 | 3.5% | 73.1% | ||
| Q3 24 | 1.5% | 27.9% | ||
| Q2 24 | 1.3% | 32.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | -1.04× | ||
| Q1 25 | — | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.28× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
