Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 260

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 260
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 leases7.11 %6.36 %Finance leases4.62 %4.67 %Future minimum lease payments under non-cancellable leases as of June 30, 2025 were as follows:Operating LeasesFinance Leases(in thousands)Remaining 2025$15,247 $80 202623,380 — 202717,265 — 20288,555 — 20295,795 — Thereafter19,757 — Total future minimum lease payments$89,999 $80 Less: imputed interest(15,120)— Total liability$74,879 $80 As of June 30, 2025, the Company has undiscounted commitments of $2.6 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in the third quarter of 2025 with lease terms of up to 3 years.

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7.     Goodwill and Intangible Assets

GoodwillAs of June 30, 2025 and December 31, 2024, the Company’s goodwill was $670.4 million. During the three months ended June 30, 2025, the Company identified certain triggering events, including a decrease in its stock price and market capitalization. The Company then assessed the fair value of its reporting unit by using a combination of income and market approaches and concluded that the estimated fair value still substantially exceeded the carrying value. The Company did not record an impairment charge on goodwill during either of the three and six months ended June 30, 2025 and 2024. Intangible Assets, net As of June 30, 2025 and December 31, 2024, the Company’s intangible assets consisted of the following:As of June 30, 2025As of December 31, 2024Gross carrying valueAccumulated amortizationNet carrying valueGross carrying valueAccumulated amortizationNet carrying value(in thousands)Intangible assets:Customer relationships$69,100 $(41,028)$28,072 $69,860 $(37,364)$32,496 Developed technology49,500 (47,025)2,475 50,130 (42,482)7,648 Trade names— — — 3,910 (3,694)216 Internet