Dive Brief:

• Cloud computing and content delivery platform Fastly tapped Richard Wong as its next CFO, effective Aug. 11, the company announced in a Wednesday press release. Wong’s appointment is one of several executive leadership changes recently announced by Fastly, which also tapped Scott Lovett, previously its chief revenue officer, will be serving as its president, go to market, effective immediately, according to the release.
• The moves come after Fastly in June appointed its former Chief Product Officer, Charles “Kip” Compton, to serve as its CEO, according to a securities filing at the time. Compton succeeded Todd Nightingale, who departed from his role as CEO and president effective June 16 for another opportunity.
• “Going forward, I’m excited to share my vision for Fastly with a keen focus on accelerating our growth rate and driving to profitability in the near term,” Compton said during Fastly’s Q2 earnings call Wednesday, his first such call as CEO. In a separate press release Wednesday, the San Francisco, California-based company announced results for its second quarter, where it reported record revenue of $148.7 million.

Dive Insight:

Wong, who will replace Ronald Kisling as finance chief, was also hired as a senior advisor to the company’s CEO, effective Aug. 7 and will serve in that role until the CFO transition date, according to a filing with the Securities and Exchange Commission. Kisling, meanwhile, will continue to serve as a strategic advisor to the company, which provides edge computing and content delivery services to businesses including SeatGeek and Neiman Marcus.

Wong’s previous roles include serving as the first CFO for both software platform Benchling and home remodeling software firm Houzz, according to his LinkedIn profile. His past roles also include serving as VP, finance for LinkedIn, as well as senior director, operations finance for Yahoo Inc.

As CFO for Fastly, Wong will receive an annual base salary of $450,000 and will be granted a restricted stock award with an aggregate value of $8 million as “a material inducement for him to commence employment,” according to the Wednesday company filing. He will also be eligible to receive an annual performance-based bonus with a target amount equal to 70% of his base salary, per the filing.

“Rich has a strong combination of strategic financial planning experience and vision, combined with a robust foundation in investment banking,” Compton said of the CFO appointment Wednesday. “He will be an excellent addition to our leadership team as we grow and scale the business, and I look forward to him engaging with our investor community.”

Wong will assume the top financial seat for the company as Fastly seeks to continue its growth streak. The quarter ended June 30 represents its second consecutive quarter where the business reported record revenue, after the company logged revenue of $144.5 million for its Q1, according to company results. The company also shrunk its non-GAAP operating loss to $4.5 million compared to $5.8 million for the quarter ended June 30, and raised its full revenue guidance for full-year 2025 to a range between $594 million and $602 million, and expects to generate positive cash flow for the year, according to its earnings report.

However, executives also warned of potential changes that could impact the business, including regulatory shifts from the Trump administration relating to social media platform TikTok and its parent company, ByteDance, one of Fastly’s largest customers.

On June 19, the Trump administration issued an executive order further extending the deadline for TikTok to comply with the Protecting Americans from Foreign Adversary Controlled Applications Act to September 17. The act, which was signed into law by President Joseph Biden and was originally intended to go into effect in January, effectively prohibits TikTok’s use in the U.S. while it is owned by a Chinese company.  

“Globally, ByteDance, the parent company of TikTok represented less than 10% of our revenue in the second quarter of 2025 and the United States traffic represented less than 2% of our revenue in the same period,” Kisling said Wednesday. “While we do not know the outcome of U.S. policy on TikTok, to be consistent with our practice in the first half of 2025, we are excluding TikTok's U.S. forecasted revenue beyond September 17 from our guide.”

Fastly did not immediately respond to requests for comment.