Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 298

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 298
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 edge platform for actionable insights. The following table presents the Company’s revenue by product line:Three months ended March 31,20252024(in thousands)Network Services$113,229 $105,996 Security26,436 24,600 Other4,809 2,924 Total revenue$144,474 $133,520 Contract balancesThe timing of revenue recognition may differ from the timing of invoicing to customers. The Company has an unconditional right to consideration when it invoices its customers and records a receivable. The Company records a contract asset, or unbilled receivable, when revenue is recognized prior to invoicing. The Company records a contract liability, or deferred revenue, when a contract is billed in advance of revenue being recognized.Deferred revenue pertains to amounts billed to customers for which revenue has not been recognized, which primarily consists of the unearned portions of billings for the Company’s security subscription services and the unearned portion of edge cloud platform usage. Amounts that have been invoiced for annual subscriptions, but not collected, are recorded in accounts receivable and in unearned revenue or in revenue depending on whether services have been delivered to the customer. The Company’s payment terms and conditions vary by contract type, and generally range from 30 to 90 days. The following table presents the Company’s contract assets and contract liabilities as of March 31, 2025 and as of December 31, 2024:As of March 31, 2025As of December 31, 2024(in thousands)Contract assets$452 $1,072 Contract liabilities$34,381 $29,585 The following table presents revenue recognized during the three months ended March 31, 2025 and 2024 from amounts included in the contract liability at the beginning of the period:Three months ended March 31,20252024(in thousands)Revenue recognized in the period from amounts included in contract liability at the beginning of the period$11,594 $12,760 Remaining performance obligationsAs of March 31, 2025, the aggregate amount of the transaction price in our contracts allocated to remaining performance obligations that are unsatisfied or partially unsatisfied was $303.0 million. This amount includes future committed revenue for periods within current contracts with customers, as well as deferred revenue arising from consideration invoiced for which the related performance obligations have not been satisfied. The Company has elected to not provide certain information about its remaining performance obligations for service contracts with an