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Side-by-side financial comparison of Fastly, Inc. (FSLY) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($172.6M vs $117.3M, roughly 1.5× Latham Group, Inc.). Latham Group, Inc. runs the higher net margin — -7.3% vs -9.0%, a 1.7% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 5.3%). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs -14.4%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
FSLY vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $117.3M |
| Net Profit | $-15.5M | $-8.5M |
| Gross Margin | 61.4% | 31.7% |
| Operating Margin | -8.7% | — |
| Net Margin | -9.0% | -7.3% |
| Revenue YoY | 22.8% | 5.3% |
| Net Profit YoY | 52.9% | -43.1% |
| EPS (diluted) | $-0.10 | $-0.07 |
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 | — | $117.3M | ||
| Q4 25 | $172.6M | $100.0M | ||
| Q3 25 | $158.2M | $161.9M | ||
| Q2 25 | $148.7M | $172.6M | ||
| Q1 25 | $144.5M | $111.4M | ||
| Q4 24 | $140.6M | $87.3M | ||
| Q3 24 | $137.2M | $150.5M | ||
| Q2 24 | $132.4M | $160.1M |
| Q1 26 | — | $-8.5M | ||
| Q4 25 | $-15.5M | $-7.0M | ||
| Q3 25 | $-29.5M | $8.1M | ||
| Q2 25 | $-37.5M | $16.0M | ||
| Q1 25 | $-39.1M | $-6.0M | ||
| Q4 24 | $-32.9M | $-29.2M | ||
| Q3 24 | $-38.0M | $5.9M | ||
| Q2 24 | $-43.7M | $13.3M |
| Q1 26 | — | 31.7% | ||
| Q4 25 | 61.4% | 28.0% | ||
| Q3 25 | 58.4% | 35.4% | ||
| Q2 25 | 54.5% | 37.1% | ||
| Q1 25 | 53.2% | 29.5% | ||
| Q4 24 | 53.4% | 24.6% | ||
| Q3 24 | 54.5% | 32.4% | ||
| Q2 24 | 55.1% | 33.1% |
| Q1 26 | — | — | ||
| Q4 25 | -8.7% | -10.7% | ||
| Q3 25 | -18.2% | 13.3% | ||
| Q2 25 | -24.8% | 14.3% | ||
| Q1 25 | -26.4% | -4.4% | ||
| Q4 24 | -24.4% | -14.9% | ||
| Q3 24 | -29.6% | 8.9% | ||
| Q2 24 | -35.3% | 12.5% |
| Q1 26 | — | -7.3% | ||
| Q4 25 | -9.0% | -7.0% | ||
| Q3 25 | -18.6% | 5.0% | ||
| Q2 25 | -25.2% | 9.3% | ||
| Q1 25 | -27.1% | -5.4% | ||
| Q4 24 | -23.4% | -33.4% | ||
| Q3 24 | -27.7% | 3.9% | ||
| Q2 24 | -33.0% | 8.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $-0.10 | $-0.06 | ||
| Q3 25 | $-0.20 | $0.07 | ||
| Q2 25 | $-0.26 | $0.13 | ||
| Q1 25 | $-0.27 | $-0.05 | ||
| Q4 24 | $-0.23 | $-0.24 | ||
| Q3 24 | $-0.27 | $0.05 | ||
| Q2 24 | $-0.32 | $0.11 |
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 | — |
| Total DebtLower is stronger | — | $3.3M |
| Stockholders' EquityBook value | $929.6M | $396.7M |
| Total Assets | $1.5B | $856.4M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 | — | $3.3M | ||
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M |
| Q1 26 | — | $396.7M | ||
| Q4 25 | $929.6M | $405.9M | ||
| Q3 25 | $937.0M | $408.4M | ||
| Q2 25 | $942.6M | $398.4M | ||
| Q1 25 | $957.0M | $381.1M | ||
| Q4 24 | $965.3M | $387.2M | ||
| Q3 24 | $969.5M | $416.6M | ||
| Q2 24 | $981.2M | $408.1M |
| Q1 26 | — | $856.4M | ||
| Q4 25 | $1.5B | $823.2M | ||
| Q3 25 | $1.5B | $844.4M | ||
| Q2 25 | $1.5B | $822.1M | ||
| Q1 25 | $1.4B | $824.6M | ||
| Q4 24 | $1.5B | $794.2M | ||
| Q3 24 | $1.5B | $853.4M | ||
| Q2 24 | $1.5B | $830.0M |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× |
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 | $-47.7M |
| Free Cash FlowOCF − Capex | $12.2M | — |
| FCF MarginFCF / Revenue | 7.1% | — |
| Capex IntensityCapex / Revenue | 5.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-47.7M | ||
| Q4 25 | $22.4M | $23.3M | ||
| Q3 25 | $28.9M | $51.0M | ||
| Q2 25 | $25.8M | $36.0M | ||
| Q1 25 | $17.3M | $-46.9M | ||
| Q4 24 | $5.2M | $6.2M | ||
| Q3 24 | $5.0M | $37.2M | ||
| Q2 24 | $-4.9M | $52.4M |
| Q1 26 | — | — | ||
| Q4 25 | $12.2M | $14.1M | ||
| Q3 25 | $22.9M | $45.2M | ||
| Q2 25 | $15.9M | $29.1M | ||
| Q1 25 | $14.7M | $-50.3M | ||
| Q4 24 | $251.0K | $-98.0K | ||
| Q3 24 | $3.0M | $33.2M | ||
| Q2 24 | $-6.7M | $47.9M |
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 14.1% | ||
| Q3 25 | 14.5% | 27.9% | ||
| Q2 25 | 10.7% | 16.8% | ||
| Q1 25 | 10.2% | -45.2% | ||
| Q4 24 | 0.2% | -0.1% | ||
| Q3 24 | 2.2% | 22.1% | ||
| Q2 24 | -5.1% | 29.9% |
| Q1 26 | — | — | ||
| Q4 25 | 5.9% | 9.2% | ||
| Q3 25 | 3.8% | 3.6% | ||
| Q2 25 | 6.6% | 4.0% | ||
| Q1 25 | 1.8% | 3.1% | ||
| Q4 24 | 3.5% | 7.2% | ||
| Q3 24 | 1.5% | 2.7% | ||
| Q2 24 | 1.3% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× |
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% |
SWIM
Segment breakdown not available.
