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Side-by-side financial comparison of Fastly, Inc. (FSLY) and Strategic Education, Inc. (STRA). Click either name above to swap in a different company.
Strategic Education, Inc. is the larger business by last-quarter revenue ($305.9M vs $172.6M, roughly 1.8× Fastly, Inc.). Strategic Education, Inc. runs the higher net margin — 10.7% vs -9.0%, a 19.7% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 0.8%). Strategic Education, Inc. produced more free cash flow last quarter ($77.3M vs $12.2M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs -1.0%).
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.
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
FSLY vs STRA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $305.9M |
| Net Profit | $-15.5M | $32.8M |
| Gross Margin | 61.4% | — |
| Operating Margin | -8.7% | 13.4% |
| Net Margin | -9.0% | 10.7% |
| Revenue YoY | 22.8% | 0.8% |
| Net Profit YoY | 52.9% | 10.3% |
| EPS (diluted) | $-0.10 | $1.48 |
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 | — | $305.9M | ||
| Q4 25 | $172.6M | $323.2M | ||
| Q3 25 | $158.2M | $319.9M | ||
| Q2 25 | $148.7M | $321.5M | ||
| Q1 25 | $144.5M | $303.6M | ||
| Q4 24 | $140.6M | $311.5M | ||
| Q3 24 | $137.2M | $306.0M | ||
| Q2 24 | $132.4M | $312.3M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $-15.5M | $37.9M | ||
| Q3 25 | $-29.5M | $26.6M | ||
| Q2 25 | $-37.5M | $32.3M | ||
| Q1 25 | $-39.1M | $29.7M | ||
| Q4 24 | $-32.9M | $25.3M | ||
| Q3 24 | $-38.0M | $27.7M | ||
| Q2 24 | $-43.7M | $29.9M |
| 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 | — | 13.4% | ||
| Q4 25 | -8.7% | 16.0% | ||
| Q3 25 | -18.2% | 11.6% | ||
| Q2 25 | -24.8% | 14.2% | ||
| Q1 25 | -26.4% | 13.1% | ||
| Q4 24 | -24.4% | 11.6% | ||
| Q3 24 | -29.6% | 11.9% | ||
| Q2 24 | -35.3% | 13.4% |
| Q1 26 | — | 10.7% | ||
| Q4 25 | -9.0% | 11.7% | ||
| Q3 25 | -18.6% | 8.3% | ||
| Q2 25 | -25.2% | 10.1% | ||
| Q1 25 | -27.1% | 9.8% | ||
| Q4 24 | -23.4% | 8.1% | ||
| Q3 24 | -27.7% | 9.1% | ||
| Q2 24 | -33.0% | 9.6% |
| Q1 26 | — | $1.48 | ||
| Q4 25 | $-0.10 | $1.65 | ||
| Q3 25 | $-0.20 | $1.15 | ||
| Q2 25 | $-0.26 | $1.37 | ||
| Q1 25 | $-0.27 | $1.24 | ||
| Q4 24 | $-0.23 | $1.05 | ||
| Q3 24 | $-0.27 | $1.15 | ||
| Q2 24 | $-0.32 | $1.24 |
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 | $150.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | $1.6B |
| Total Assets | $1.5B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $150.3M | ||
| Q4 25 | $361.8M | $148.1M | ||
| Q3 25 | $342.9M | $172.6M | ||
| Q2 25 | $321.2M | $164.9M | ||
| Q1 25 | $307.3M | $182.6M | ||
| Q4 24 | $295.9M | $184.0M | ||
| Q3 24 | $308.2M | $222.1M | ||
| Q2 24 | $311.8M | $256.2M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $929.6M | $1.6B | ||
| Q3 25 | $937.0M | $1.7B | ||
| Q2 25 | $942.6M | $1.7B | ||
| Q1 25 | $957.0M | $1.6B | ||
| Q4 24 | $965.3M | $1.7B | ||
| Q3 24 | $969.5M | $1.7B | ||
| Q2 24 | $981.2M | $1.7B |
| Q1 26 | — | $2.1B | ||
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $1.5B | $2.1B | ||
| Q2 25 | $1.5B | $2.1B | ||
| Q1 25 | $1.4B | $2.1B | ||
| Q4 24 | $1.5B | $2.0B | ||
| Q3 24 | $1.5B | $2.2B | ||
| Q2 24 | $1.5B | $2.2B |
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 | $87.4M |
| Free Cash FlowOCF − Capex | $12.2M | $77.3M |
| FCF MarginFCF / Revenue | 7.1% | 25.3% |
| Capex IntensityCapex / Revenue | 5.9% | — |
| Cash ConversionOCF / Net Profit | — | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $87.4M | ||
| Q4 25 | $22.4M | $39.2M | ||
| Q3 25 | $28.9M | $60.1M | ||
| Q2 25 | $25.8M | $31.2M | ||
| Q1 25 | $17.3M | $67.7M | ||
| Q4 24 | $5.2M | $15.9M | ||
| Q3 24 | $5.0M | $51.5M | ||
| Q2 24 | $-4.9M | $24.3M |
| Q1 26 | — | $77.3M | ||
| Q4 25 | $12.2M | $27.0M | ||
| Q3 25 | $22.9M | $49.3M | ||
| Q2 25 | $15.9M | $20.4M | ||
| Q1 25 | $14.7M | $57.3M | ||
| Q4 24 | $251.0K | $4.7M | ||
| Q3 24 | $3.0M | $42.1M | ||
| Q2 24 | $-6.7M | $13.6M |
| Q1 26 | — | 25.3% | ||
| Q4 25 | 7.1% | 8.3% | ||
| Q3 25 | 14.5% | 15.4% | ||
| Q2 25 | 10.7% | 6.3% | ||
| Q1 25 | 10.2% | 18.9% | ||
| Q4 24 | 0.2% | 1.5% | ||
| Q3 24 | 2.2% | 13.8% | ||
| Q2 24 | -5.1% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | 5.9% | 3.8% | ||
| Q3 25 | 3.8% | 3.4% | ||
| Q2 25 | 6.6% | 3.4% | ||
| Q1 25 | 1.8% | 3.4% | ||
| Q4 24 | 3.5% | 3.6% | ||
| Q3 24 | 1.5% | 3.1% | ||
| Q2 24 | 1.3% | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | — | 1.03× | ||
| Q3 25 | — | 2.26× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 2.27× | ||
| Q4 24 | — | 0.63× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | — | 0.81× |
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% |
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
