Company: FSLY
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001517413-25-000299
Chunk: 311

Company: Fastly, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 311
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 accounts receivable. The Company’s cash, cash equivalents, and marketable securities primarily consisted of money market funds, investment-grade commercial paper, corporate notes and bonds, U.S. treasury securities, municipal bonds, agency bonds, and certificates of deposit. The primary focus of its investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy limits the amount of credit exposure with any one financial institution or commercial issuer. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash and cash equivalents to the extent recorded in the balance sheets.Concentrations of credit risk with respect to accounts receivable are primarily limited to certain customers to which the Company makes substantial sales. The Company’s customer base consists of a large number of geographically dispersed customers diversified across several industries. No single customer accounted for more than 10% of the Company's revenue for each of the three and nine months ended September 30, 2025 and 2024. As of both September 30, 2025 and December 31, 2024, no customer accounted for more than 10% of the Company's accounts receivable. 

Affiliated customers that are business units of a single company generated an aggregate of 10% of the Company's revenue for the three months ended September 30, 2025 and less than 10% of the Company's revenue for the nine months ended September 30, 2025. Affiliated customers that are business units of a single company in the streaming entertainment space generated an aggregate of less than 10% of the Company's revenue for the three months ended September 30, 2024 and 10% of the Company's revenue for the nine months ended September 30, 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 September 30, 2025. The same affiliated customers that accounted for 10% of the Company's revenue for the nine months ended September 30, 2024 also accounted for an aggregate of 11% of the Company’s accounts receivable balance as of December 31, 2024. 

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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 and