Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 250

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 250
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 of the three months ended March 31, 2025 and 2024. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three months ended March 31, 2025 and 2024. As of March 31, 2025As of December 31, 2024Weighted Average Remaining Lease Term (in years):Operating leases2.662.84Finance leases0.220.32Weighted Average Discount Rate:Operating leases6.35 %6.36 %Finance leases4.71 %4.67 %Future minimum lease payments under non-cancellable leases as of March 31, 2025 were as follows:Operating LeasesFinance Leases(in thousands)Remaining 2025$23,665 $621 202624,834 — 202715,384 — 20284,018 — 20291,842 — Thereafter441 — Total future minimum lease payments$70,184 $621 Less: imputed interest(5,528)(4)Total liability$64,656 $617 As of March 31, 2025, the Company has undiscounted commitments of $1.1 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in the second quarter of 2025 with lease terms of up to 3 years.

7.     Goodwill and Intangible Assets

GoodwillAs of March 31, 2025 and December 31, 2024, the Company’s goodwill was $670.4 million. As of March 31, 2025, the Company identified certain triggering events, including a decrease in its stock price and market capitalization. The 

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Company performed a qualitative assessment and concluded it is not more likely than not that the fair value of its one single reporting unit is less than its carrying amount. The Company did not record an impairment charge on goodwill during either of the three months ended March 31, 2025 and 2024. Subsequent to March 31, 2025, the Company's stock price has declined and fluctuated. If the stock price were to trade below book value per share for an extended period of time or the Company experiences adverse effects of a continued downward trend in the overall economic environment, changes in the business itself, including any adverse changes in projected