Yup and why their share price has rocketed. Nobody in the CDN industry is making money - a large player went bankrupt recently. You don't want to look at Fastlys financials and share price
Cloud is where the money is.
That is also an important part of AWS’s retention strategy: for most AWS customers the easiest solution to rising costs is to simply sign a long-term contract, dramatically decreasing their prices (again, Amazon has the margin to spare) while ensuring they stay on AWS that much longer, accumulating that much more data and relying on that many more AWS-specific services. Hotel Seattle, as it were.