Jun. 2 at 6:57 PM
$FSLY The 38% earnings dump was a tantrum, not a crack. Beat EPS by 62%, record 65% gross margin, swung to a
$22.9M profit, and RAISED the year to
$710-725M.
The crowd sold 11% Network Services growth and ignored the engine: Security +47% (4th straight quarter accelerating), Other +67%, RPO +63% YoY to
$369M, NRR 113%. The forward book is screaming re-acceleration while the legacy core shrinks as a % of revenue.
Cheapest name in the group: 3.8x sales vs
$NET 22x,
$AKAM . AI-native edge + security is a free option here.
Froth's gone.
$15 panic low held, reclaimed the box, bullish call flow, William Blair tonight. Reclaim and hold
$22.50 and the gap-fill opens.
$30 is where the thesis re-rates.
Volatile name, size it. Not advice.
