AKAM

MKT CAP:$14B

Akamai Technologies, Inc.

Market Cap

$14B

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$97.62+$12.52 (+14.71%)

Apr 20, 2026

Company Details

Akamai Technologies, Inc. provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructu...

CEO

F. Thomson Leighton

IPO Date

Oct 29, 1999

Website

www.akamai.com

Key Metrics TTM

Revenue

$4.2B

+5.4% YoY

Net Income

$452M

EPS (Diluted)

$3.08

Free Cash Flow

$699M

Revenue / Share

$28.63

Gross Margin

57.9%

Operating Margin

14.8%

Net Margin

10.7%

FCF Margin

16.6%

P/S

3.4x

P/E

31.3x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 20, 2026

$4.2B+5.4%EPS $3.07

Q4 2025

Feb 20, 2026

$1.1B+7.4%EPS $0.58

Q3 2025

Nov 7, 2025

$1.1B+5.0%EPS $0.97

Q2 2025

Aug 8, 2025

$1.0B+6.5%EPS $0.71

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$853M	$533M	$199M
Q3 21	$860M	$543M	$205M
Q4 21	$905M	$580M	$196M
Q4 22	$928M	$570M	$167M
Q1 23	$916M	$554M	$127M
Q2 23	$936M	$562M	$150M
Q3 23	$965M	$582M	$176M
Q4 23	$995M	$602M	$185M
Q1 24	$987M	$592M	$167M
Q2 24	$980M	$577M	$148M
Q3 24	$1.0B	$596M	$71M
Q4 24	$1.0B	$606M	$148M
Q1 25	$1.0B	$596M	$155M
Q2 25	$1.0B	$617M	$151M
Q3 25	$1.1B	$625M	$166M
Q4 25	$1.1B	$597M	$151M

Valuation

Quarter	P/S	P/E
Q2 21	5.7x	32.7x
Q3 21	5.2x	29.4x
Q4 21	5.4x	28.9x
Q4 22	3.8x	20.2x
Q1 23	3.3x	19.3x
Q2 23	3.8x	24.5x
Q3 23	4.3x	28.6x
Q4 23	4.6x	32.1x
Q1 24	4.3x	26.6x
Q2 24	3.5x	21.6x
Q3 24	3.8x	28.8x
Q4 24	3.6x	28.4x
Q1 25	2.9x	25.7x
Q2 25	2.8x	27.2x
Q3 25	2.7x	21.8x
Q4 25	3.1x	28.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$378M	$224M
Q3 21	$390M	$273M
Q4 21	$387M	$277M
Q4 22	$341M	$231M
Q1 23	$233M	$11M
Q2 23	$366M	$190M
Q3 23	$359M	$162M
Q4 23	$389M	$255M
Q1 24	$352M	$178M
Q2 24	$431M	$267M
Q3 24	$393M	$207M
Q4 24	$344M	$181M
Q1 25	$251M	$55M
Q2 25	$459M	$235M
Q3 25	$442M	$247M
Q4 25	$367M	$162M

Capital Expenditures

Quarter	CapEx
Q2 21	$155M
Q3 21	$116M
Q4 21	$110M
Q4 22	$111M
Q1 23	$222M
Q2 23	$176M
Q3 23	$198M
Q4 23	$134M
Q1 24	$174M
Q2 24	$164M
Q3 24	$185M
Q4 24	$163M
Q1 25	$196M
Q2 25	$224M
Q3 25	$195M
Q4 25	$205M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+7.3%	+8.1%
Q3 21	+8.5%	+7.1%
Q4 21	+7.0%	-0.3%
Q4 22	+10.1%	+15.1%
Q1 23	+7.4%	+20.8%
Q2 23	+8.8%	+20.0%
Q3 23	+6.6%	+11.3%
Q4 23	+7.2%	+6.6%
Q1 24	+7.8%	+4.0%
Q2 24	+4.7%	+5.8%
Q3 24	+4.1%	+18.3%
Q4 24	+2.5%	+7.6%
Q1 25	+2.9%	+4.9%
Q2 25	+6.5%	+7.3%
Q3 25	+5.0%	-4.9%
Q4 25	+7.4%	+8.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$50M	5.9%
Q3 21	$49M	5.7%
Q4 21	$49M	5.4%
Q4 22	$58M	6.3%
Q1 23	$62M	6.8%
Q2 23	$87M	9.3%
Q3 23	$87M	9.0%
Q4 23	$92M	9.3%
Q1 24	$93M	9.4%
Q2 24	$98M	10.1%
Q3 24	$103M	10.2%
Q4 24	$99M	9.7%
Q1 25	$112M	11.0%
Q2 25	$113M	10.8%
Q3 25	$115M	10.9%
Q4 25	$119M	10.9%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 21	$77M	$113M	$112M
Q3 21	$83M	$210M	$11M
Q4 21	$93M	—	$428M
Q4 22	$105M	—	$444M
Q1 23	$92M	$233M	$20M
Q2 23	$99M	$242M	$26M
Q3 23	$106M	$242M	$21M
Q4 23	$109M	$250M	$22M
Q1 24	$117M	$252M	$17M
Q2 24	$113M	$248M	$26M
Q3 24	$120M	$255M	$20M
Q4 24	$120M	$260M	$23M
Q1 25	$124M	$253M	$19M
Q2 25	$126M	$263M	$28M
Q3 25	$125M	$65M	$260M
Q4 25	$139M	$76M	$268M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 21	7.3%	40.0%	47.3
Q3 21	8.5%	40.9%	49.4
Q4 21	7.0%	37.7%	44.6
Q4 22	10.1%	34.3%	44.4
Q1 23	7.4%	28.9%	36.3
Q2 23	8.8%	31.1%	39.9
Q3 23	6.6%	34.3%	41.0
Q4 23	7.2%	35.6%	42.9
Q1 24	7.8%	35.6%	43.4
Q2 24	4.7%	33.7%	38.4
Q3 24	4.1%	24.3%	28.4
Q4 24	2.5%	33.2%	35.7
Q1 25	2.9%	34.9%	37.7
Q2 25	6.5%	32.0%	38.5
Q3 25	5.0%	36.8%	41.7
Q4 25	7.4%	28.0%	35.3

Rule of 40

Revenue Segments

Quarter	Reportable Segment
Q1 25	$1.0B
Q2 25	$1.0B
Q3 25	$1.1B
Q4 25	$1.1B

Revenue by Geography

Quarter	Non-US	United States	International
Q2 21	$403M	$450M	—
Q3 21	$412M	$449M	—
Q4 21	$429M	$476M	—
Q1 23	—	$474M	$442M
Q2 23	—	$480M	$456M
Q3 23	$467M	$499M	—
Q1 24	—	$512M	$475M
Q2 24	$471M	$509M	—
Q3 24	$480M	$525M	—
Q1 25	$486M	$529M	—
Q2 25	$516M	$528M	—
Q3 25	$525M	$530M	—
Q4 25	$542M	$553M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$378M	$129M	$507M
Q2 22	$427M	$264M	$691M
Q3 22	$458M	$406M	$864M
Q4 22	$542M	$563M	$1.1B
Q1 23	$299M	$453M	$752M
Q2 23	$299M	$492M	$791M
Q3 23	$460M	$479M	$939M
Q4 23	$489M	$375M	$864M
Q1 24	$468M	$1.2B	$1.7B
Q2 24	$448M	$1.2B	$1.6B
Q3 24	$570M	$1.1B	$1.7B
Q4 24	$518M	$1.1B	$1.6B
Q1 25	$1.1B	$224M	$1.3B
Q2 25	$850M	$116M	$967M
Q3 25	$928M	$191M	$1.1B
Q4 25	$930M	$256M	$1.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	166M	+0.3%	+0.9%
Q3 21	166M	+0.0%	-0.1%
Q4 21	165M	-0.8%	-0.6%
Q4 22	157M	-4.5%	-5.0%
Q1 23	156M	-0.8%	-6.1%
Q2 23	153M	-1.7%	-7.7%
Q3 23	155M	+1.0%	-6.0%
Q4 23	157M	+1.3%	-0.3%
Q1 24	157M	+0.3%	+0.9%
Q2 24	154M	-2.5%	+0.1%
Q3 24	155M	+0.8%	-0.1%
Q4 24	153M	-1.1%	-2.5%
Q1 25	151M	-1.3%	-4.1%
Q2 25	145M	-3.8%	-5.4%
Q3 25	147M	+1.2%	-5.0%
Q4 25	147M	-0.0%	-4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$101.9K	8K
Q3 21	$102.8K	8K
Q4 21	$104.1K	9K
Q4 22	$94.7K	10K
Q1 23	$93.4K	10K
Q2 23	$95.5K	10K
Q3 23	$98.5K	10K
Q4 23	$97.1K	10K
Q1 24	$96.3K	10K
Q2 24	$95.6K	10K
Q3 24	$98.0K	10K
Q4 24	$95.3K	11K
Q1 25	$94.9K	11K
Q2 25	$97.5K	11K
Q3 25	$98.6K	11K
Q4 25	$99.5K	11K

Revenue / Employee