Company: FSLY
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001517413-25-000299
Chunk: 277

Company: Fastly, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 277
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 presents the computation of basic and diluted net loss per share of common stock:Three months ended September 30,Nine months ended September 30,2025202420252024(in thousands, except per share amounts)Net loss attributable to common stockholders$(29,483)$(38,016)$(106,172)$(125,172)Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted148,129 139,237 145,749 137,097 Net loss per share attributable to common stockholders, basic and diluted$(0.20)$(0.27)$(0.73)$(0.91)The following securities were excluded from the computation of diluted net loss per share of common stock for the periods presented as their effect would have been antidilutive:Number of SharesAs of September 30,20252024(in thousands)Stock options1,785 2,552 RSUs15,244 13,761 PSUs1,554 1,132 MPSUs335 1,313 rTSR PSUs263 — Shares issuable pursuant to the ESPP627 579 Convertible senior notes (if-converted)9,433 3,370 Total29,241 22,707 The dilution table above excludes RSUs to be awarded under the Company’s 2025 Bonus Program, which is expected to have an impact on its outstanding awards in the first quarter of 2026. Refer to Note 10 — Stockholders' Equity for further details on the Company’s 2025 Bonus Program.

12.     Income Taxes 

The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company continues to maintain a full valuation allowance on the Company’s U.S. Federal and state net deferred tax assets. The tax expense for the three and nine months ended September 30, 2025 and 2024 was primarily due to foreign tax expense. In the three months ended September 30, 2025 and 2024, the Company recorded income tax expense of $0.6 million and $0.5 million, respectively. In the nine months ended