Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 439

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 439
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 the three months ended March 31, 2025 compared to $31.6 million for the three months ended March 31, 2024, a decrease of $3.4 million, or 11%. The decrease was primarily due to a $2.8 million decrease in stock-based compensation expenses, as well as a $1.3 million decrease in personnel-related costs. The decrease was partially offset by a $0.7 million increase in professional services fees.

Other Income and Expense

Interest income

Three months ended March 31,20252024% Change(in thousands)Interest income$2,975 $3,848 (23)%

Interest income was $3.0 million for the three months ended March 31, 2025 compared to $3.8 million for the three months ended March 31, 2024, a decrease of $0.8 million, or 23%. This decrease was primarily driven by a decrease in interest rates and investment balance.

Interest expense

Three months ended March 31,20252024% Change(in thousands)Interest expense$3,173 $579 448 %

Interest expense was $3.2 million for the three months ended March 31, 2025 compared to $0.6 million for the three months ended March 31, 2024, an increase of $2.6 million, or 448%. Interest expense increased primarily due to the coupon interest of the 2028 Notes issued in December 2024.

Other expense, net

Three months ended March 31,20252024% Change(in thousands)Other expense, net$80 $89 (10)%

Other expense, net remained relatively flat at less than $0.1 million for both the three months ended March 31, 2025 and March 31, 2024. The changes were mainly driven by our foreign currency transaction gains and losses between the periods.

41

Income Taxes

Three months ended March 31,20252024% Change(in thousands)Income tax expense $691 $347 99 %

Income tax expense was $0.7 million for the three months ended March 31, 2025 compared to $0.3 million for the three months ended March 31, 2024, an increase of $0.4 million. The Company continues to maintain a full valuation allowance in the U.S. and the tax expense for the periods were primarily due to