Fastly vs IREN
Fastly and IREN are similar in size: $624m and $707m of revenue in their latest fiscal years. IREN grew faster (41.1% against 14.8%). Fastly kept more of each dollar of sales as profit: a net margin of -19.5% against -99.4%. Fastly carries less debt relative to equity (38.9% against 184.1%).
| Latest fiscal year | FastlyFSLY, 2025 | IRENIREN, 2026 |
|---|---|---|
| Revenue | $624m | $707m |
| Revenue growth | 14.8% | 41.1% |
| Net income | −$122m | −$703m |
| Operating margin | -19.1% | -148.0% |
| Net margin | -19.5% | -99.4% |
| Return on equity | -12.8% | -23.4% |
| Free cash flow | $65.8m | −$898m |
| Cash | $181m | $5.90bn |
| Total debt | $362m | $7.71bn |
| Debt to equity | 38.9% | 184.1% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 1,140 | 685 |
| Market value | $3.36bn | $6.60bn |
| Price vs our value range | — | — |
| Moat score | 24 (Weak) | — |
| Insider trades, 12 months | 0 buys, 178 sales | 0 buys, 0 sales |