The global content delivery network (CDN) market is expected to grow 22% from $10.73 billion in 2020 to $52.3 billion by 2028. Fastly (NYSE: FSLY) Is a fast-growing player in the market that continues to add to its product portfolio to expand market share.

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Fastly’s Financials

Fastly recently announced its second-quarter results. Q2 revenues grew 14% to $85.03 million, falling short of the market’s estimates by 1.14%. Non GAAP EPS was a loss of $0.15 against the market’s forecast of a loss of $0.18.

Fastly forecast its third quarter revenues to be $82-$85 million, against the market’s estimate of $98.62 million. It expects to end the year with revenues of $340-$350 million and a loss of $0.65-$0.57 per share, against the market’s estimates of revenues of $380.94 million and a loss of $0.42 per share.

Fastly’s Expansion

Recently, Fastly announced the availability of JavaScript in Compute@Edge. Traditionally, JavaScript developers have had to deal with more than 250 milliseconds of startup latency in serverless environments. The latency delays request processing and slows down time-sensitive applications and websites. To compensate for the delays, developers have added more functions into a single serverless deployment, but that has led to increased security risks as it opens a larger blast radius for attacks. Fastly’s recent solution aims at addressing both these challenges.

Its recent launch allows developers to create with larger flexibility in Fastly’s serverless compute environment. Instead of using existing technologies for serverless compute, Fastly created Compute@Edge with WebAssembly, making scaling with startup times nearly 100x faster and allowing customers to execute JavaScript code at a faster speed. To maximize security, Fastly also created a highly secure isolation technology that creates and destroys a sandbox for each individual request from JavaScript created through WebAssembly.

The recent pandemic conditions have accelerated the demand for the consumption of internet services, thus benefitting the industry. But the CDN market is a very crowded one. Fastly has to deal with giants like Google, AWS, Microsoft along with other communication-focused companies like AT&T, Tata Communications, Deutsche Telecom, Century Link, and others. Fastly differentiates itself by developing its technologies that provide more control to developers and offer better performance.

Its stock is trading at $49.32 with a market capitalization of $5.75 billion. It had climbed to a 52-week high of $122.75 in February. It hit a year low of $33.87 earlier this month.