Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 299

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 299
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 original contract duration of one year or less. As of March 31, 2025, the Company expects to recognize approximately 77% of its remaining performance obligations over the next 12 months. The Company’s typical contractual term with its customers is one year, although terms may vary by contract. 

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Costs to obtain a contractAs of March 31, 2025 and December 31, 2024, the Company's costs to obtain contracts were as follows:As of March 31, 2025As of December 31, 2024(in thousands)Deferred contract costs, net$49,870 $52,583 

During the three months ended March 31, 2025 and 2024, the Company recognized $4.9 million and $4.6 million of amortization related to deferred contract costs, respectively. These costs are recorded within sales and marketing expenses on the accompanying condensed consolidated statements of operations. 

4.     Investments and Fair Value Measurements

The Company's total cash, cash equivalents and marketable securities consisted of the following:As of March 31, 2025As of December 31, 2024(in thousands)Cash and cash equivalents:Cash$41,811 $52,951 U.S. Treasury securities12,254 — Money market funds60,205 233,224 Municipal securities1,880 — Commercial paper6,639 — Corporate notes and bonds2,695 — Total cash and cash equivalents(1)$125,484 $286,175 Marketable securities:U.S. Treasury securities$51,706 $— Corporate notes and bonds62,131 6,008 Commercial paper67,571 3,699 Certificates of deposit400 — Total marketable securities, current(2)$181,808 $9,707 Total cash and cash equivalents and marketable securities$307,292 $295,882 (1) The Company’s cash equivalents include investments with an original maturity date of three months or less.(2) The Company classifies its marketable securities as current, where it intends to hold the securities for less than 12 months.

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The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to cash equivalents and available-for-sale securities on the accompanying condensed consolidated balance sheets as of March 31, 2025 and December 31,