Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 281

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 281
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 discount, coupon interest expense, and debt issuance costs associated with our debt obligations. Our other expense, net, consists primarily of foreign currency transaction gains and losses. 

Income Taxes

Our income tax expense consists primarily of income taxes in certain foreign jurisdictions where we conduct business and state minimum income taxes in the United States. We currently maintain a full valuation allowance on our U.S. Federal and state net deferred tax assets. We expect to maintain this valuation allowance for the foreseeable future.

Results of Operations

The following tables set forth our results of operations for the period presented:

Three months endedMarch 31,20252024(in thousands)Condensed Consolidated Statement of Operations:Revenue$144,474 $133,520 Cost of revenue67,676 60,286 Gross profit76,798 73,234 Operating expenses:Research and development37,429 38,248 Sales and marketing49,313 49,607 General and administrative28,235 31,639 Total operating expenses114,977 119,494 Loss from operations(38,179)(46,260)Interest income2,975 3,848 Interest expense(3,173)(579)Other expense, net(80)(89)Loss before income tax expense(38,457)(43,080)Income tax expense 691 347 Net loss attributable to common stockholders$(39,148)$(43,427)

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The following tables set forth our results of operations for the period presented as a percentage of our revenue:

Three months endedMarch 31,20252024Condensed Consolidated Statements of Operations, as a percentage of revenue:*Revenue100 %100 %Cost of revenue47 45 Gross profit53 55 Operating expenses:Research and development26 29 Sales and marketing34 37 General and administrative20 24 Total operating expenses80 90 Loss from operations(27)(35)Interest income2 3 Interest expense(2)— Other expense, net— — Loss before income tax expense(27)(32)Income tax expense — — Net loss attributable to common stockholders(27)%(32)%__________

*    Columns may not add up to 100% due to rounding.

Revenue

Three months ended March 31,20252024% Change(in thousands)Network Services$113,229 $105,996 7 %Security26,436 24,600