Fastly : Third Quarter 2024 Investor Supplement

Published: 2024-11-06 16:31:16 ET FSLY

Third Quarter 2024 Investor Supplement

Product Innovation and Developments

Customer and Partner Highlights

Corporate Highlights

Key Metrics Highlights

Fourth Quarter and Full Year 2024 Guidance

Q4 2024

Full Year 2024

Total Revenue (millions)

$136.0

- $140.0

$539.0

- $543.0

Non-GAAP Operating Loss

($5.0)

- ($1.0)

($28.0)

- ($24.0)

(millions)(4)

Non-GAAP Net Income

($0.02) - $0.02

($0.12)

- ($0.08)

(Loss) per share (5)(6)

Calculations of Key and Other Selected Metrics - Quarterly (unaudited)

Revenue by Product (in millions):

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Network Services Revenue

96.8

94.3

98.5

102.5

109.8

106.0

104.2

107.4

Security Revenue

20.7

21.2

22.5

23.3

25.8

24.6

25.4

26.2

Other Revenue

1.8

2.0

1.8

1.9

2.2

2.9

2.8

3.6

Total Revenue

119.3

117.6

122.8

127.8

137.8

133.5

132.4

137.2

Key Metrics:

Enterprise Customer Count(1)

533

540

551

547

578

577

601

576

Enterprise Customer Revenue %

92 %

91 %

92 %

91 %

92 %

Total Customer Count(1)

3,062

3,100

3,072

3,102

3,243

3,290

3,295

3,638

Top Ten Customer Revenue %

37 %

35 %

37 %

40 %

38 %

34 %

33 %

LTM Net Retention Rate (NRR)(2)

119 %

116 %

114 %

113 %

114 %

110 %

105 %

Annual Revenue Retention Rate (ARR)(7)

98.9 %

- %

99.2 %

- %

Remaining Performance Obligation (RPO)(3)

198.3

242.4

230.9

247.6

235.7

227.0

223.1

235.4

Key Metrics

Forward-Looking Statements

This investor supplement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Fastly's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "continue," "would," or the negative of these words or other similar terms or expressions that concern Fastly's expectations, goals, strategy, priorities, plans, projections, or intentions. Forward-looking statements in this investor supplement include, but are not limited to, statements regarding Fastly's future financial and operating performance, including its outlook and guidance; the performance of our existing and new products and product enhancements; the capabilities of Fastly Next- Gen WAF and Fastly Bot Management; expectations regarding customer experiences with the Fastly trials experience and Support Portal; expectations regarding customer mix; and Fastly's strategies, product and business plans. Fastly's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the possibility that: Fastly is unable to attract and retain customers; Fastly's existing customers and partners do not maintain or increase usage of Fastly's platform; Fastly's platform and product features do not meet expectations, including due to defects, interruptions, security breaches, delays in performance or other similar problems; Fastly is unable to adapt to meet evolving market and customer demands and rapid technological change; Fastly is unable to comply with modified or new industry standards, laws and regulations; Fastly is unable to generate sufficient revenues to achieve or sustain profitability; Fastly's limited operating history makes it difficult to evaluate its prospects and future operating results; Fastly is unable to effectively manage its growth; and Fastly is unable to compete effectively. The forward-looking statements contained in this investor supplement are also subject to other risks and uncertainties, including those more fully described in Fastly's Annual Report on Form 10-K for the year ended December 31, 2023, in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Additional information will also be set forth in Fastly's Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and other filings and reports that Fastly may file from time to time with the SEC. The forward- looking statements in this investor supplement are based on information available to Fastly as of the date hereof, and Fastly disclaims any obligation to update any forward-looking statements, except as required by law.

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States ("GAAP"), the Company uses the following non-GAAP measures of financial performance: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non- GAAP net income (loss), non-GAAP basic and diluted net loss per common share, non-GAAP research and development, non-GAAP sales and marketing, non-GAAP general and administrative, free cash flow and adjusted EBITDA. The presentation of this additional financial information is not intended to be considered in isolation from, as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. These non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP. In addition, these non-GAAP financial measures may be different from the non-GAAP financial measures used by other companies. These non-GAAP measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. Management compensates for these limitations by reconciling these non-GAAP financial measures to the most comparable GAAP financial measures within our earnings releases.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP net income (loss) and non-GAAP basic and diluted net income (loss) per common share, non-GAAP research and development, non-GAAP sales and marketing, and non-GAAP general and administrative differ from GAAP in that they exclude stock-based compensation expense, amortization of acquired intangible assets, acquisition-related expenses, executive transition costs, net gain on extinguishment of debt, impairment expense and amortization of debt discount and issuance costs.

Adjusted EBITDA: excludes stock-based compensation expense, depreciation and other amortization expenses, amortization of acquired intangible assets, acquisition-related expenses, executive transition costs, interest income, interest expense, including amortization of debt discount and issuance costs, net gain on extinguishment of debt, impairment expense, other income (expense), net, and income taxes.

Amortization of Acquired Intangible Assets: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases and acquisitions. Management considers its operating results without this activity when evaluating its ongoing non-GAAP performance and its adjusted EBITDA performance because these charges are non- cash expenses that can be affected by the timing and magnitude of asset purchases and acquisitions and may not be reflective of our core business, ongoing operating results, or future outlook.

Amortization of Debt Discount and Issuance Costs: consists primarily of amortization expense related to our debt obligations. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net

income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be

reflective of our core business, ongoing operating results or future outlook. These are included in our total interest expense.

Capital Expenditures: consists of cash used for purchases of property and equipment, net of proceeds from sale of property and equipment, capitalized internal-use software and payments on finance lease obligations, as reflected in our statement of cash flows.

Depreciation and Other Amortization Expense: consists of non-cash charges that can be affected by the timing and magnitude of asset purchases. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because these charges are non-cash expenses that can be affected by the timing and magnitude of asset purchases and may not be reflective of our core business, ongoing operating results, or future outlook.

Executive Transition Costs: consists of one-time cash and non-cash charges recognized with respect to changes in our executive's employment status. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Free Cash Flow: calculated as net cash used in operating activities less purchases of property and equipment, net of proceeds from sale of property and equipment, principal payments of finance lease liabilities, capitalized internal-use software costs and advance payments made related to capital expenditures. Management specifically identifies adjusting items in the reconciliation of GAAP to non-GAAP financial measures. Management considers non-GAAP free cash flow to be a profitability and liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in Fastly's business and strengthening its balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. The presentation of non-GAAP free cash flow is also not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.

Impairment Expense: consists of charges related to our long-lived assets. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Income Taxes: consists primarily of expenses recognized related to state and foreign income taxes. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Interest Expense: consists primarily of interest expense related to our debt instruments, including amortization of debt discount and issuance costs. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Interest Income: consists primarily of interest income related to our marketable securities. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Net Gain on Debt Extinguishment: relates to net gain on the partial repurchase of our outstanding convertible debt. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Other Income (Expense), Net: consists primarily of foreign currency transaction gains and losses. Management considers its operating results without this activity when evaluating its ongoing adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Restructuring Charges: consists primarily of employee-related severance and termination benefits related to management's restructuring plan that resulted in a reduction in our workforce. Management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance because it is not believed by management to be reflective of our core business, ongoing operating results or future outlook.

Stock-Based Compensation Expense: consists of expenses for stock options, restricted stock units, performance awards, restricted stock awards and Employee Stock Purchase Plan ("ESPP") under our equity incentive plans. Although

stock-based compensation is an expense for the Company and is viewed as a form of compensation, management considers its operating results without this activity when evaluating its ongoing non-GAAP net income (loss) performance and its adjusted EBITDA performance, primarily because it is a non-cash expense not believed by management to be reflective of our core business, ongoing operating results, or future outlook. In addition, the value of some stock-based instruments is determined using formulas that incorporate variables, such as market volatility, that are beyond our control.

Management believes these non-GAAP financial measures and adjusted EBITDA serve as useful metrics for our management and investors because they enable a better understanding of the long-term performance of our core business and facilitate comparisons of our operating results over multiple periods and to those of peer companies, and when taken together with the corresponding GAAP financial measures and our reconciliations, enhance investors' overall understanding of our current financial performance.

In the financial tables below, the Company provides a reconciliation of the most comparable GAAP financial measure to the historical non-GAAP financial measures used in this investor supplement.

Consolidated Statements of Operations - Quarterly (unaudited, in thousands, except per share amounts)

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Revenue

119,321

117,564

122,831

127,816

137,777

133,520

132,371

137,206

Cost of revenue(1)

56,738

57,310

58,617

61,730

62,003

60,286

59,470

62,466

Gross profit

62,583

60,254

64,214

66,086

75,774

73,234

72,901

74,740

Operating expenses:

Research and development(1)

37,197

37,431

37,421

39,068

38,270

38,248

35,106

31,884

Sales and marketing(1)

44,623

44,271

47,797

51,043

48,662

49,607

52,959

45,994

General and administrative (1)

29,225

25,827

28,823

30,001

31,426

31,639

28,433

27,173

Impairment expense

4,316

3,137

559

Restructuring charges

9,720

Total operating expenses

111,045

107,529

114,041

124,428

118,358

119,494

119,635

115,330

Loss from operations

(48,462)

(47,275)

(49,827)

(58,342)

(42,584)

(46,260)

(46,734)

(40,590)

Net gain on extinguishment of debt

36,760

15,656

Interest income

2,894

4,186

4,508

4,908

4,584

3,848

3,937

3,819

Interest expense

(1,354)

(1,213)

(1,232)

(862)

(744)

(579)

(464)

(473)

Other income (expense), net

(250)

(803)

(16)

(763)

(89)

193

(317)

Loss before income taxes

(46,876)

(44,552)

(10,594)

(54,312)

(23,851)

(43,080)

(43,068)

(37,561)

Income tax expense (benefit)

(223)

135

110

(1)

(465)

347

661

455

Net loss

(46,653)

(44,687)

(10,704)

(54,311)

(23,386)

(43,427)

(43,729)

(38,016)

Net loss per share attributable to

(0.38)

(0.36)

(0.08)

(0.42)

(0.18)

(0.32)

(0.27)

common stockholders, basic and

diluted

Weighted-average shares used in

computing net loss per share

123,587

125,418

127,863

129,873

131,843

134,587

137,444

139,237

attributable to common stockholders,

basic and diluted

__________

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Cost of revenue

2,938

2,681

2,837

2,860

3,278

2,779

2,044

1,911

Research and development

11,469

11,481

12,205

12,122

12,019

10,323

7,983

7,378

Sales and marketing

7,885

6,705

9,877

9,061

8,060

7,843

7,058

7,113

General and administrative

9,126

7,284

12,073

11,670

12,090

10,876

9,063

8,614

Total

31,418

28,151

36,992

35,713

35,447

31,821

26,148

25,016

Reconciliation of GAAP to Non-GAAP Financial Measures - Quarterly (unaudited, in thousands, except per share amounts)

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Gross Profit

GAAP gross Profit

62,583

60,254

64,214

66,086

75,774

73,234

72,901

74,740

Stock-based compensation

2,938

2,681

2,837

2,860

3,278

2,779

2,044

1,911

Amortization of acquired intangible assets

2,475

Non-GAAP gross profit

67,996

65,410

69,526

71,421

81,527

78,488

77,420

79,126

GAAP gross margin

52.4 %

51.3 %

52.3 %

51.7 %

55.0 %

54.8 %

55.1 %

54.5 %

Non-GAAP gross margin

57.0 %

55.6 %

56.6 %

55.9 %

59.2 %

58.8 %

58.5 %

57.7 %

Research and development

GAAP research and development

37,197

37,431

37,421

39,068

38,270

38,248

35,106

31,884

Stock-based compensation

(11,469)

(11,481)

(12,205)

(10,426)

(11,728)

(10,323)

(7,983)

(7,378)

Executive transition costs

(2,406)

(385)

Non-GAAP research and development

25,728

25,950

25,216

26,236

26,157

27,925

27,123

24,506

Sales and marketing

GAAP sales and marketing

44,623

44,271

47,797

51,043

48,662

49,607

52,959

45,994

Stock-based compensation

(7,885)

(6,705)

(9,877)

(9,061)

(8,060)

(7,843)

(7,058)

(7,113)

Amortization of acquired intangible assets

(2,575)

(2,576)

(2,300)

(2,301)

(2,300)

Non-GAAP sales and marketing

34,163

34,991

35,345

39,406

38,302

39,464

43,600

36,581

General and administrative

GAAP general and administrative

29,225

25,827

28,823

30,001

31,426

31,639

28,433

27,173

Stock-based compensation

(9,126)

(7,284)

(12,073)

(11,670)

(12,090)

(10,876)

(9,063)

(8,614)

Non-GAAP general and administrative

20,099

18,543

16,750

18,331

19,336

20,763

19,370

18,559

Operating loss

GAAP operating loss

(48,462)

(47,275)

(49,827)

(58,342)

(42,584)

(46,260)

(46,734)

(40,590)

Stock-based compensation

31,418

28,151

36,992

34,017

35,156

31,821

26,148

25,016

Restructuring charges

9,720

Executive transition costs

2,406

385

Amortization of acquired intangible assets

5,050

5,051

4,775

4,776

4,775

Impairment expense

4,316

3,137

559

Non-GAAP operating loss

(11,994)

(14,074)

(7,785)

(12,552)

(2,268)

(9,664)

(12,673)

(520)

Net loss

GAAP net loss

(46,653)

(44,687)

(10,704)

(54,311)

(23,386)

(43,427)

(43,729)

(38,016)

Stock-based compensation

31,418

28,151

36,992

34,017

35,156

31,821

26,148

25,016

Restructuring charges

9,720

Executive transition costs

2,406

385

Amortization of acquired intangible assets

5,050

5,051

4,775

4,776

4,775

Net gain on extinguishment of debt

(36,760)

(15,656)

Impairment expense

4,316

3,137

559

Amortization of debt issuance costs

716

803

502

456

354

349

358

Non-GAAP net income (loss)

(9,469)

(10,770)

(4,619)

(8,019)

1,730

(6,477)

(9,319)

2,412

GAAP net loss per common share - basic

and diluted

(0.38)

(0.36)

(0.08)

(0.42)

(0.18)

(0.32)

(0.27)

Non-GAAP net income (loss) per common

(0.08)

(0.09)

(0.04)

(0.06)

0.01

(0.05)

(0.07)

0.02

share - basic and diluted

Weighted average basic common shares

123,587

125,418

127,863

129,873

131,843

134,587

137,444

139,237

Weighted average diluted common shares

123,587

125,418

127,863

129,873

141,162

134,587

137,444

143,415

Reconciliation of GAAP to Non-GAAP Financial Measures - Quarterly (Continued) (unaudited, in thousands, except per share amounts)

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Reconciliation of GAAP to Non-GAAP

diluted shares:

GAAP diluted shares

123,587

125,418

127,863

129,873

131,843

134,587

137,444

139,237

Other dilutive equity awards

9,319

4,178

Non-GAAP diluted shares

123,587

125,418

127,863

129,873

141,162

134,587

137,444

143,415

Non-GAAP diluted net income (loss)

(0.08)

(0.09)

(0.04)

(0.06)

0.01

(0.05)

(0.07)

0.02

per share

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Adjusted EBITDA

GAAP net loss

(46,653)

(44,687)

(10,704)

(54,311)

(23,386)

(43,427)

(43,729)

(38,016)

Stock-based compensation

31,418

28,151

36,992

34,017

35,156

31,821

26,148

25,016

Depreciation and other

11,903

12,179

13,030

13,202

13,727

13,400

13,443

13,781

amortization

Amortization of acquired intangible

5,050

5,051

4,775

4,776

4,775

assets

Amortization of debt discount and

716

803

502

456

354

349

358

issuance costs

Restructuring charges

9,720

Executive transition costs

2,406

385

Net gain on extinguishment of debt

(36,760)

(15,656)

Impairment expense

4,316

3,137

559

Interest income

(2,894)

(4,186)

(4,508)

(4,908)

(4,584)

(3,848)

(3,937)

(3,819)

Interest expense

638

497

429

360

288

225

115

Other (income) expense, net

(46)

250

803

763

(193)

317

Income tax (benefit) expense

(223)

135

110

(1)

(465)

347

661

455

Adjusted EBITDA

(91)

(1,895)

5,245

650

11,459

3,736

770

13,261

Non-GAAP Consolidated Statements of Operations - Quarterly (unaudited, in thousands, except per share amounts)

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Revenue

119,321

$ 117,564

122,831

127,816

137,777

133,520

132,371

137,206

Cost of revenue (1)(2)

51,325

52,154

53,305

56,395

56,250

55,032

54,951

58,080

Gross profit (1)(2)

67,996

65,410

69,526

71,421

81,527

78,488

77,420

79,126

Operating expenses:

Research and development(1)(3)

25,728

25,950

25,216

26,236

26,157

27,925

27,123

24,506

Sales and marketing(1)(2)

34,163

34,991

35,345

39,406

38,302

39,464

43,600

36,581

General and administrative (1)

20,099

18,543

16,750

18,331

19,336

20,763

19,370

18,559

Total operating expenses(1)(2)(3)(4)(5)

79,990

79,484

77,311

83,973

83,795

88,152

90,093

79,646

Loss from operations(1)(2)(3)(4)(5)

(11,994)

(14,074)

(7,785)

(12,552)

(2,268)

(9,664)

(12,673)

(520)

Interest income

2,894

4,186

4,508

4,908

4,584

3,848

3,937

3,819

Interest expense(6)

(638)

(497)

(429)

(360)

(288)

(225)

(115)

Other income (expense), net

(250)

(803)

(16)

(763)

(89)

193

(317)

Income (loss) before income tax

(9,692)

(10,635)

(4,509)

(8,020)

1,265

(6,130)

(8,658)

2,867

expense (benefit)(1)(2)(3)(4)(5)(6)(7)

Income tax expense (benefit)

(223)

135

110

(1)

(465)

347

661

455

Net income (loss)(1)(2)(3)(4)(5)(6)(7)

(9,469)

$ (10,770)

(4,619)

(8,019)

1,730

(6,477)

(9,319)

2,412

Net income (loss) per share

attributable to common stockholders,

$ (0.08)

$ (0.09)

$ (0.04)

$ (0.06)

$ 0.01

basic and diluted

$ (0.05)

$ (0.07)

0.02

Weighted-average shares used in

computing net income (loss) per share 123,587 125,418 127,863 attributable to common stockholders,

basic

Weighted-average shares used in

computing net income (loss) per share 123,587 125,418 127,863 attributable to common stockholders,

diluted

129,873 131,843

129,873 141,162

134,587 137,444 139,237

134,587 137,444 143,415

Consolidated Balance Sheets - Quarterly (unaudited, in thousands)

Q4 2022

Q1 2023

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Q3 2024

Assets

Current assets:

Cash and cash equivalents

143,391

348,463

273,742

270,300

107,921

150,809

147,196

217,514

Marketable securities

374,581

198,116

123,605

158,055

214,799

178,677

164,569

90,733

Accounts receivable, net

89,578

85,344

78,295

98,622

120,498

107,517

113,878

116,800

Prepaid expenses and

28,933

29,717

29,500

24,481

20,455

23,207

25,312

28,011

other current assets

Total current assets

636,483

661,640

505,142

551,458

463,673

460,210

450,955

453,058

Property and equipment, net

180,378

179,922

179,045

171,914

176,608

177,574

177,058

180,288

Operating lease right-of-use

68,440

60,615

56,733

52,927

55,212

54,420

52,451

47,700

assets, net

Goodwill

670,185

670,192

670,356

Intangible assets, net

82,900

77,725

72,550

67,375

62,475

57,576

52,676

47,776

Marketable securities, non-

165,105

117,518

78,042

32,280

6,088

1,743

current

Other assets

92,622

94,798

95,550

94,353

90,779

84,044

79,176

72,576

Total assets

$1,896,113

$1,862,410

$1,657,418

$1,640,663

$1,525,191

$1,505,923

$1,482,672

$1,471,754

Liabilities and Stockholders'

Equity

Current liabilities:

Accounts payable

4,786

4,668

5,561

5,723

5,611

5,485

5,532

11,354

Accrued expenses

61,161

42,311

47,001

56,595

61,818

35,555

34,445

40,854

Finance lease liabilities

28,954

24,763

22,233

19,250

15,684

11,974

8,178

4,882

Operating lease liabilities

23,026

20,516

20,575

21,533

24,042

22,580

25,399

23,857

Other current liabilities

34,394

32,942

36,234

40,234

40,539

44,633

35,748

33,261

Total current liabilities

152,321

125,200

131,604

143,335

147,694

120,227

109,302

114,208

Long-term debt, less current

704,710

705,378

472,369

472,823

343,507

343,837

344,167

344,498

portion

Finance lease liabilities,

15,507

10,858

7,026

3,860

1,602

440

noncurrent

Operating lease liabilities,

61,341

56,275

51,448

47,775

48,484

46,857

44,634

40,565

noncurrent

Other long-term liabilities

7,076

6,144

7,217

4,298

4,416

2,756

3,382

3,029

Total liabilities

940,955

903,855

669,664

672,091

545,703

514,117

501,485

502,300

Stockholders' equity:

Common stock

Additional paid-in capital

1,666,106

1,710,498

1,747,959

1,781,870

1,815,245

1,870,503

1,903,374

1,929,397

Accumulated other

(9,286)

(5,594)

(3,152)

(1,934)

(1,008)

(521)

(282)

(22)

comprehensive loss

Accumulated deficit

(701,664)

(746,351)

(757,055)

(811,366)

(834,752)

(878,179)

(921,908)

(959,924)

Total stockholders' equity

955,158

958,555

987,754

968,572

979,488

991,806

981,187

969,454

Total liabilities and

$1,896,113

$1,862,410

$1,657,418

$1,640,663

$1,525,191

$1,505,923

$1,482,672

$1,471,754

stockholders' equity

Disclaimer

Fastly Inc. published this content on November 06, 2024, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on November 06, 2024 at 21:26:46.451.