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Cloud company Fastly (NYSE: FSLY ) has reported a narrower net loss for the fourth quarter of 2022, helped by an increase in profits.
Fourth quarter revenue increased 22% from last year to $119.3 million. As a result, adjusted net loss narrowed to $0.08 per share in the December quarter from $0.10 per share in the same period in 2021. Unadjusted loss was $46.7 million or $0.38 per share, compared to with a loss of $57.5 million or $0.49 per share. a year earlier.
“We’re excited to close out 2022 with another record quarter, surpassing the high end of our guidance range while showing significant improvement in gross margin,” said Todd Nightingale, CEO of Fastly.
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