Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 320

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 320
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Property and equipment, net consisted of the following:As of June 30, 2025As of December 31, 2024(in thousands)Computer and networking equipment$255,388 $237,148 Leasehold improvements8,181 8,139 Furniture and fixtures2,401 2,153 Office equipment1,219 1,218 Internal-use software136,510 123,849 Property and equipment, gross$403,699 $372,507 Accumulated depreciation and amortization(221,929)(193,410)Property and equipment, net$181,770 $179,097 During both the three and six months ended June 30, 2024, the Company recognized a non-recurring impairment charge of $1.8 million related to an internal-use software project the Company does not plan to continue with and therefore abandoned. These impairment charges are included within the impairment expense line in the Company's condensed consolidated statements of operations. The Company did not recognize any material impairment on its internal-use software for either of the three and six months ended June 30, 2025. Depreciation on property and equipment for the three months ended June 30, 2025 and 2024 was approximately $15.0 million and $13.3 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $5.4 million and $4.0 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation on property and equipment for the six months ended June 30, 2025 and 2024 was approximately $30.1 million and $26.6 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $11.0 million and $7.9 million for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025 and December 31, 2024, the unamortized balance of capitalized internal-use software costs on the Company’s condensed consolidated balance sheets was approximately $81.1 million and $79.5 million, respectively. The Company leases certain networking equipment from various third parties through equipment finance leases. The Company’s networking equipment assets as of both June 30, 2025 and December 31, 2024 included a total of $73.2 million