Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 255

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 255
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 due to their short maturities, and are therefore excluded from the fair value tables below.Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

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Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities;Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; andLevel 3—Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation.The Company measures its cash equivalents and marketable securities at fair value. The Company classifies its cash equivalents and marketable securities within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs.The Company classifies its investments, which are comprised of corporate notes and bonds, U.S. treasury securities, foreign government and supranational securities, and asset-backed securities within Level 2 of the fair value hierarchy because the fair value of these securities is priced by using inputs based on non-binding market consensus prices that are primarily corroborated by observable market data or quoted market prices for similar instruments. Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments:As of June 30, 2025Level 1Level 2Level 3Total(in thousands)Cash equivalents:Money market funds$25,663 $— $— $25,663 U.S. Treasury securities— 2,479 — 2,479 Commercial paper— 3,449 — 3,449 Municipal securities— 1,100 — 1,100 Total cash equivalents25,663 7,028 — 32,691 Marketable securities:U.S. Treasury securities— 82,356 — 82,356 Corporate notes and bonds— 74,156 — 74,156 Commercial paper— 80,810 — 80,810