Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 243

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 243
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460 Total revenue$144,474 $133,520 

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The Company reports its revenue by three product lines: Network Services, Security, and Other. Network Services include solutions designed to improve performance of websites, apps, application programming interfaces (“APIs”), and digital media. Security includes products designed to protect websites, apps, APIs, and users. Other includes Compute solutions that allow developers to build and deploy modern web applications on Fastly's edge cloud platform, and Observability solutions that provide real-time logs, data, and metrics streamed from Fastly's 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