Company: FSLY
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001517413-25-000299
Chunk: 340

Company: Fastly, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 340
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. Refer to Note 10 — Stockholders' Equity for further details on the Company’s 2025 Bonus Program.

12.     Income Taxes 

The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company continues to maintain a full valuation allowance on the Company’s U.S. Federal and state net deferred tax assets. The tax expense for the three and nine months ended September 30, 2025 and 2024 was primarily due to foreign tax expense. In the three months ended September 30, 2025 and 2024, the Company recorded income tax expense of $0.6 million and $0.5 million, respectively. In the nine months ended September 30, 2025 and 2024, the Company recorded income tax expense of $1.8 million and $1.5 million, respectively.During the three months ended September 30, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted. The Company does not anticipate a material impact to income tax expense for the year ending December 31, 2025 as a result of OBBBA.

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13.     Segment and Geographic Information 

Segment The Company operates as one single operating and reportable segment. The Chief Operating Decision Maker is the Company's Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied by disaggregated information about its revenue, for purposes of making operating decisions, assessing financial performance and allocating resources.Net loss is the Company's primary measure of profit or loss, and all costs and expense categories on the Company's condensed consolidated statements of operations, as well as stock-based compensation, depreciation and amortization expenses, are significant. Refer to Note 10 — Stockholders' Equity for additional information about the Company's stock-based compensation expense. Refer to Note 5 — Balance Sheet Information for additional information about the Company's depreciation and amortization expenses. The Company's other segment items include interest income, interest expense, other expense, and net and income tax expense on the Company's condensed consolidated statements of operations. RevenueRevenue by geography is based on the billing address of the customer. Refer to Note 3 — Revenue for more information on net revenue