Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 301

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 301
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 for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

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Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities;Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; andLevel 3—Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation.The Company measures its cash equivalents, marketable securities, and restricted cash at fair value. The Company classifies its cash equivalents, marketable securities, and restricted cash within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs.The Company classifies its investments, which are comprised of corporate notes and bonds, U.S. treasury securities, foreign government and supranational securities, and asset-backed securities within Level 2 of the fair value hierarchy because the fair value of these securities is priced by using inputs based on non-binding market consensus prices that are primarily corroborated by observable market data or quoted market prices for similar instruments. Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments:As of March 31, 2025Level 1Level 2Level 3Total(in thousands)Cash equivalents:Money market funds$60,205 $— $— $60,205 U.S. Treasury securities— 12,254 — 12,254 Commercial paper— 6,639 — 6,639 Municipal securities— 1,880 — 1,880 Corporate notes and bonds— 2,695 — 2,695 Total cash equivalents60,205 23,468 — 83,673 Marketable securities:U.S. Treasury securities— 51,706 — 51,706 Corporate notes and bonds— 62,131 — 62,131 Commercial paper— 67,571 — 67,571 Certificates of deposit400 —