Company: FSLY
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001517413-25-000063
Chunk: 137

Company: Fastly, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 137
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, 2024 compared to $18.2 million for the year ended December 31, 2023, a decrease of $3.3 million, or 18%. This decrease was due to a decrease in the investment portfolio.

Interest expenseYear ended December 31,Change20242023$ Change% Change(in thousands)Interest expense$2,747 $4,051 $(1,304)(32)%

Interest expense was $2.7 million for the year ended December 31, 2024 compared to $4.1 million for the year ended December 31, 2023, a decrease of $1.3 million, or 32%. This decrease was primarily due to the repurchases that occurred during the years ended December 31, 2023 and December 31, 2024, which reduced the principal amount of our notes. 

Other income (expense), netYear ended December 31,Change20242023$ Change% Change(in thousands)Other expense, net$1,028 $1,832 $(804)(44)%

Other expense, net was $1.0 million for the year ended December 31, 2024 compared to $1.8 million for the year ended December 31, 2023, a decrease of $0.8 million, or 44%. The decrease was mainly driven by our foreign currency transaction gains between the periods.

83

Income TaxesYear ended December 31,Change20242023$ Change% Change(in thousands)Income tax expense (benefit)$2,604 $(221)$2,825 1,278 %

Income tax expense was $2.6 million for the year ended December 31, 2024 compared to income tax benefit of $0.2 million for the year ended December 31, 2023. The Company continues to maintain a full valuation allowance in the U.S. and the tax expense (benefit) for the periods were primarily due to foreign tax expense.

Liquidity and Capital Resources

As of December 31, 2024, we had cash, cash equivalents, and marketable securities totaling $295.9 million. Our cash, cash equivalents, and marketable securities primarily consisted of money market funds, investment-grade commercial paper, corporate notes and bonds. As of December 31, 2024, we did not have any marketable securities classified as non-current.

To date, we have financed our operations