Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 294

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 294
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 to incur costs associated with supporting the growth of our business, including international expansion, but expect these costs to decrease as a percentage of our revenue over the long term as we continue to drive efficiencies in our operations. However, our general and administrative expenses may fluctuate as a percentage of our revenue from period to period due to the timing and extent of these expenses. 

Impairment expense

Our impairment expense relates to non-recurring charges for our long-lived assets. 

Other Income and Expenses 

Our interest income consists primarily of interest earned on our cash, cash equivalents and investments. Our interest expense consists primarily of the interest expense on our finance leases, amortization of discount, coupon interest expense, and debt issuance costs associated with our debt obligations. Our other expense, net, consists primarily of foreign currency transaction gains and losses. 

Income Taxes

Our income tax expense consists primarily of income taxes in certain foreign jurisdictions where we conduct business and state minimum income taxes in the United States. We currently maintain a full valuation allowance on our U.S. Federal and state net deferred tax assets. We expect to maintain this valuation allowance for the foreseeable future.

Results of Operations

The following tables set forth our results of operations for the period presented:

Three months endedJune 30,Six months endedJune 30,2025202420252024(in thousands)Condensed Consolidated Statement of Operations:Revenue$148,709 $132,371 $293,183 $265,891 Cost of revenue67,593 59,470 135,269 119,756 Gross profit81,116 72,901 157,914 146,135 Operating expenses:Research and development42,221 35,106 79,650 73,354 Sales and marketing51,100 52,959 100,413 102,566 General and administrative24,323 28,433 52,558 60,072 Impairment expense415 3,137 415 3,137 Total operating expenses118,059 119,635 233,036 239,129 Loss from operations(36,943)(46,734)(75,122)(92,994)Interest income3,084 3,937 6,059 7,785 Interest expense(3,164)(464)(6,337)(1,043)Other income (expense), net39 193 (41)104 Loss before income tax expense(36,984