Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 332

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 332
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 of June 30, 2025, the conversion conditions had not been met and therefore the 2028 Notes were not yet convertible.

25

The following table reflects the carrying values of the long-term debt as of June 30, 2025 and December 31, 2024:As of June 30, 2025As of December 31, 2024(in thousands)(in thousands)Convertible Senior notes (effective interest rate of 0.38% for the 2026 Notes and an effective interest rate of 7.77% for the 2028 Notes)Principal amount$338,594 $338,594 Less: unamortized debt issuance costs(659)(980)Less: current portion of long-term debt(188,052)— Long-term debt, less current portion$149,883 $337,614 For the three months ended June 30, 2025 and 2024, interest expense related to the Company’s debt obligations was $3.2 million and $0.4 million, respectively. For the six months ended June 30, 2025 and 2024, interest expense related to the Company’s debt obligations was $6.3 million and $0.8 million, respectively. As of June 30, 2025 and December 31, 2024, the total estimated fair value of the Notes was $328.8 million and $327.7 million, respectively.

9.     Commitments and Contingencies

Purchase CommitmentsAs of June 30, 2025, the Company had long-term commitments for cost of revenue related agreements (i.e., bandwidth usage, peering and other managed services with various networks, fixed asset vendors, Internet service providers and other third-party vendors). The Company also has non-cost of revenue long-term commitments for various non-cancelable agreements. Aside from the Company’s finance and operating lease commitments, including its colocation operating commitments, which have been disclosed in Note 6—Leases, the minimum future commitments related to the Company's purchase commitments as of June 30, 2025 were as follows: Cost of Revenue CommitmentsOperating Expense CommitmentsTotal Purchase Commitments(in thousands)Remainder of 2025$34,709 $8,089 $42,798 202637,437 13,378 50,815 202710,663 6,372 17,035 202812