The product evolution and customer strategy of Broadpeak, the CDN and multicast ABR specialist, has been covered extensively in Faultline over the years. With the company fresh from celebrating its 15th birthday this year (thanks for the cake at NAB), it’s time for us to unwrap the French company’s financials in more detail. The good news is that Broadpeak’s Q3 2025 revenue increased by 10.8% year on year to €9.6 million ($11.1 million), driven by the French firm’s ongoing SaaS business model transformation. The bad news is that Broadpeak has dramatically revised its revenue target—moving the goalposts to €50 million ($58 million) in 2027, a significant climbdown from its previous target of €100 million ($116 million) by 2026. So why…