Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 436

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 436
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 our revenue:

Three months endedMarch 31,20252024Condensed Consolidated Statements of Operations, as a percentage of revenue:*Revenue100 %100 %Cost of revenue47 45 Gross profit53 55 Operating expenses:Research and development26 29 Sales and marketing34 37 General and administrative20 24 Total operating expenses80 90 Loss from operations(27)(35)Interest income2 3 Interest expense(2)— Other expense, net— — Loss before income tax expense(27)(32)Income tax expense — — Net loss attributable to common stockholders(27)%(32)%__________

*    Columns may not add up to 100% due to rounding.

Revenue

Three months ended March 31,20252024% Change(in thousands)Network Services$113,229 $105,996 7 %Security26,436 24,600 7 %Other4,809 2,924 64 %Total revenue$144,474 $133,520 8 %Percentage of revenue:Network Services78 %79 %(1)%Security18 %19 %(1)%Other4 %2 %2 %

Revenue was $144.5 million for the three months ended March 31, 2025, compared to $133.5 million for the three months ended March 31, 2024, an increase of $11.0 million, or 8%.

In both the three months ended March 31, 2025 and 2024, approximately 95% of our revenue was driven by usage on our platform. Revenue was primarily from existing customers, as revenue from new customers contributed less than 10% of our revenue. The proportion of the revenue contribution between new and existing customers is consistent with prior periods and typical customer behavior as customers tend to contribute more revenue over time as their use of the platform increases. The remainder of our revenue was generated by our other products and services, including support and professional services.

Network Services revenue was $113.3 million for the three months ended March 31, 2025, compared to $106.0 million for the three months ended March 31, 2024, an increase of $7.3 million, or 7%. The increase in Network Services revenue was primarily driven by growth in usage from existing customers. Security revenue was $26.4 million for the three months ended