Company: FSLY
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001517413-25-000299
Chunk: 258

Company: Fastly, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 258
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 2025, the Company has undiscounted commitments of $1.3 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 fourth quarter of 2025 with lease terms of up to 3 years.

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7.     Goodwill and Intangible Assets

GoodwillAs of September 30, 2025 and December 31, 2024, the Company’s goodwill was $670.4 million. The Company did not record an impairment charge on goodwill during either of the three and nine months ended September 30, 2025 and 2024. Intangible Assets, net As of September 30, 2025 and December 31, 2024, the Company’s intangible assets consisted of the following:As of September 30, 2025As of December 31, 2024Gross carrying valueAccumulated amortizationNet carrying valueGross carrying valueAccumulated amortizationNet carrying value(in thousands)Intangible assets:Customer relationships$69,100 $(43,188)$25,912 $69,860 $(37,364)$32,496 Developed technology49,500 (49,500)— 50,130 (42,482)7,648 Trade names3,300 (3,300)— 3,910 (3,694)216 Internet protocol addresses4,984 (2,841)2,143 4,984 (2,468)2,516 Total intangible assets$126,884 $(98,829)$28,055 $128,884 $(86,008)$42,876 The Company’s customer relationships, developed technology, trade names, and internet protocol addresses represent intangible assets subject to amortization. Amortization expense was $4.8 million and $4.9 million for the three months ended September 30, 2025 and 2024, respectively. Amortization expense was $14.5 million and $14.7 million for the nine months ended September 30, 2025 and 2024, respectively.The Company did not purchase any intangible assets during either of the three or nine months ended September 30, 2025 and 2024. The Company recorded an impairment charge of $0.3 million for the nine months ended September