Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 437

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 437
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39

March 31, 2025, compared to $24.6 million for the three months ended March 31, 2024, an increase of $1.8 million, or 7%. The increase in Security revenue was primarily driven by an increase in Next-Gen WAF revenue, partially offset by a decrease in Fastly legacy WAF revenue. Other revenue was $4.8 million for the three months ended March 31, 2025, compared to $2.9 million for the three months ended March 31, 2024, an increase of $1.9 million, or 64%. The increase in Other revenue was primarily driven by further adoption of Compute solutions.

U.S. revenue was $110.5 million, or 77% of revenue, for the three months ended March 31, 2025, compared to $98.5 million, or 74% of revenue, for the three months ended March 31, 2024. This represents an increase of $12.0 million, or 12%. International revenue was $33.9 million, or 23% of revenue, for the three months ended March 31, 2025, compared to $35.0 million, or 26%, of revenue for the three months ended March 31, 2024. This represents a decrease of $1.1 million, or 3%. 

Cost of Revenue

Three months ended March 31,20252024% Change(in thousands)Cost of revenue$67,676 $60,286 12 %

Cost of revenue was $67.7 million for the three months ended March 31, 2025 compared to $60.3 million for the three months ended March 31, 2024, an increase of $7.4 million, or 12%. The increase was primarily due to a $6.0 million increase in bandwidth costs, a $1.9 million increase in depreciation and amortization expense as a result of increased investments in our platform, as well as a $1.0 million increase in software costs. The increase was partially offset by a $1.1 million decrease in personnel-related cost as well as a $0.8 million decrease in stock-based compensation expense.

Gross Profit and Gross MarginThree months ended March 31,20252024% Change(in thousands)Gross profit$76,798 $73,234 5 %Gross margin53