Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 297

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 297
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 2024, no customer accounted for more than 10% of accounts receivable. No affiliated customers that are business units of a single company generated more than 10% of the Company's revenue for the three months ended March 31, 2025. Affiliated customers that are business units of a single company generated an aggregate of 12% of the Company’s revenue for the three months ended March 31, 2024. The same affiliated customers accounted for an aggregate of 11% of the Company’s accounts receivable balance as of December 31, 2024. No affiliated customers that are business units of a single company accounted for more than 10% of the Company's accounts receivable balance as of March 31, 2025. 

3.     Revenue

Revenue by geography is based on the billing address of the customer. Aside from the United States, no other single country accounted for more than 10% of revenue for both the three months ended March 31, 2025 and 2024. The following table presents the Company’s net revenue by geographic region:Three months ended March 31,20252024(in thousands)United States$110,531 $98,498 Asia Pacific15,083 19,098 Europe13,989 11,246 All other4,871 4,678 Total revenue$144,474 $133,520 The majority of the Company’s revenue is derived from enterprise customers, which are defined as customers with annualized current quarter revenue in excess of $100,000. This is calculated by taking the sum of revenue for each customer within the quarter and multiplying it by four. The following table presents the Company's net revenue for enterprise and non-enterprise customers:Three months ended March 31,20252024(in thousands)Enterprise customers$134,891 $122,060 Non-enterprise customers9,583 11,460 Total revenue$144,474 $133,520 

12

The Company reports its revenue by three product lines: Network Services, Security, and Other. Network Services include solutions designed to improve performance of websites, apps, application programming interfaces (“APIs”), and digital media. Security includes products designed to protect websites, apps, APIs, and users. Other includes Compute solutions that allow developers to build and deploy modern web applications on Fastly's edge cloud platform, and Observability solutions that provide real-time logs, data, and metrics streamed from Fastly's