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SAN FRANCISCO - Fastly, Inc. (NYSE: FSLY), the $1.05 billion market cap edge cloud platform provider, has appointed Kip Compton as its new Chief Executive Officer, effective immediately, according to a company press release issued Monday. The announcement comes as the company’s stock trades at $7.24, down over 15% in the past week. Compton, who joined Fastly in January 2024 as Chief Product Officer, succeeds Todd Nightingale, who has stepped down as CEO, President, and Director.
Nightingale will remain with the company as an advisor until June 30, 2025, before pursuing an external opportunity.
"I am honored to lead Fastly as CEO," said Compton. "Since joining, I have worked closely with Todd and the leadership team to elevate our strategy, increase our product velocity, and position us for growth."
Compton brings over 25 years of senior leadership experience in cloud, video, and networking technologies. Before joining Fastly, he served as Senior Vice President of Strategy & Business Development at Cisco Networking. He holds multiple patents in digital video, security, and networking, along with degrees in Computer Science and Engineering from MIT and an MBA from Wharton.
David Hornik, Fastly’s Board Chair, expressed confidence in the transition, stating, "We are excited to have Kip step into the CEO role. He is a seasoned executive with a compelling vision for the future of the edge."
The edge cloud platform provider reaffirmed its financial guidance for the second quarter and full year 2025, which was previously issued on May 7, 2025.
Fastly provides edge compute, delivery, security, and observability offerings to help brands deliver online experiences. The company’s customers include Reddit, Neiman Marcus, Universal Music Group, and SeatGeek.
In other recent news, Fastly Inc. reported its first-quarter 2025 earnings, with revenue reaching $144.5 million, surpassing analyst forecasts. The company’s earnings per share were reported at -$0.05, exceeding the expected -$0.06. Fastly raised its revenue guidance for 2025 to a range of $585 million to $595 million, reflecting a 9% growth. The company also achieved a positive free cash flow of $8.2 million for the first time in eight quarters. In analyst updates, DA Davidson adjusted its price target for Fastly to $6.50, down from $7.50, due to mixed financial indicators, while maintaining a neutral stance. Conversely, Piper Sandler raised its price target to $7.00, citing Fastly’s financial performance and strategic initiatives. Additionally, William Blair maintained a Market Perform rating, noting Fastly’s successful revenue diversification and expansion strategies. Fastly also strengthened its executive team with new appointments, including Albert Thong as Chief Marketing Officer and Tara Seracka as Chief Legal Officer.
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