$FSLY

Fastly, Inc.

CIK:0001517413|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 183,317	$ 148,709	$ 356,338	$ 293,183
Cost of revenue	67,366	67,593	132,206	135,269
Gross profit	115,951	81,116	224,132	157,914
Operating expenses:
Research and development	42,071	42,221	84,043	79,650
Sales and marketing	56,735	51,100	111,849	100,413
General and administrative	31,578	24,323	66,568	52,558
Impairment expense	0	415	0	415
Total operating expenses	130,384	118,059	262,460	233,036
Loss from operations	(14,433)	(36,943)	(38,328)	(75,122)
Interest income	2,842	3,084	5,769	6,059
Interest expense	(3,348)	(3,164)	(6,654)	(6,337)
Other (expense) income, net	(400)	39	(780)	(41)
Loss before income taxes	(15,339)	(36,984)	(39,993)	(75,441)
Income tax expense (benefit)	252	557	(3,878)	1,248
Net loss	$ (15,591)	$ (37,541)	$ (36,115)	$ (76,689)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.10)	$ (0.26)	$ (0.23)	$ (0.53)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.10)	$ (0.26)	$ (0.23)	$ (0.53)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	157,596	145,780	155,598	144,539
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	157,596	145,780	155,598	144,539

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (36,115)	$ (76,689)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation expense	24,612	30,129
Amortization of intangible assets	4,539	9,778
Non-cash lease expense	13,085	11,349
Amortization of debt discount and issuance costs	767	434
Amortization of deferred contract costs	9,491	9,697
Stock-based compensation	70,153	51,917
Deferred income taxes	(4,353)	749
Provision for credit losses	2,532	1,994
Loss (gain) on disposals of property and equipment	267	(43)
Accretion of discounts and amortization of premiums, net	(1,817)	(1,982)
Impairment expense	0	415
Non-cash interest expense	969	969
Other adjustments	(275)	292
Changes in operating assets and liabilities:
Accounts receivable, net	1,281	(3,324)
Prepaid expenses and other current assets	(412)	2,337
Other assets	(1,845)	(8,171)
Accounts payable	8,309	6,021
Accrued expenses	872	(1,806)
Operating lease liabilities	(12,923)	(7,888)
Other liabilities	(10,937)	16,908
Net cash provided by operating activities	68,200	43,086
Cash flows from investing activities:
Purchases of marketable securities	(266,602)	(272,926)
Maturities of marketable securities	201,472	45,805
Purchases of property and equipment	(52,644)	(12,457)
Proceeds from sale of property and equipment	10	44
Capitalized internal-use software	(7,884)	(9,305)
Net cash used in investing activities	(125,648)	(248,839)
Cash flows from financing activities:
Repayment of convertible senior notes	(38,593)	0
Payments of other debt issuance costs	(502)	0
Repayments of finance lease liabilities	0	(2,248)
Proceeds from exercise of vested stock options	1,135	687
Proceeds from employee stock purchase plan	4,676	3,371
Net cash (used in) provided by financing activities	(33,284)	1,810
Effects of exchange rate changes on cash and cash equivalents	(33)	255
Net decrease in cash and cash equivalents	(90,765)	(203,688)
Cash and cash equivalents at beginning of period	180,563	286,175
Cash and cash equivalents at end of period	89,798	82,487
Supplemental disclosure of cash flow information:
Cash paid for interest	5,925	5,733
Cash paid for income taxes, net of refunds received	597	745
Cash paid for finance lease interest	0	15
Noncash investing and financing activities:
Property and equipment additions not yet paid in cash or financed	2,416	2,193
Capitalized stock-based compensation	3,238	3,487
Assets obtained in exchange for operating lease obligations	14,858	2,946
Net non-cash change in operating lease assets and liabilities associated with modifications and terminations	4,374	11,223
Deployments of prepaid capital equipment	$ 0	$ 6,498

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 89,798	$ 180,563
Marketable securities	247,700	181,196
Accounts receivable, net of allowance for credit losses of $6,967 and $6,262 as of June 30, 2026 and December 31, 2025, respectively	114,216	118,029
Prepaid expenses and other current assets	27,333	26,921
Total current assets	479,047	506,709
Property and equipment, net	220,354	186,785
Operating lease right-of-use assets, net	58,213	52,067
Goodwill	670,356	670,356
Intangible assets, net	21,232	25,771
Other assets	54,441	57,789
Total assets	1,503,643	1,499,477
Current liabilities:
Accounts payable	20,124	17,612
Accrued expenses	52,937	70,669
Long-term debt, current	0	38,557
Operating lease liabilities, current	30,100	24,427
Deferred revenue	34,266	35,234
Other current liabilities	5,096	7,499
Total current liabilities	142,523	193,998
Long-term debt, net	323,958	323,282
Operating lease liabilities, non-current	44,234	43,921
Other long-term liabilities	2,111	8,698
Total liabilities	512,826	569,899
Commitments and contingencies (Note 9)
Stockholders’ equity:
Additional paid-in capital	2,141,909	2,044,103
Accumulated other comprehensive loss	(493)	(41)
Accumulated deficit	(1,150,602)	(1,114,487)
Total stockholders’ equity	990,817	929,578
Total liabilities and stockholders’ equity	1,503,643	1,499,477
Common Class A
Stockholders’ equity:
Common stock	3	3
Common Class B
Stockholders’ equity:
Common stock	$ 0	$ 0