Company: FSLY
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001517413-25-000218
Chunk: 369

Company: Fastly, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 369
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, 2023, we entered into several separate privately negotiated transactions with certain holders of the 2026 Notes to repurchase $367.3 million aggregate principal amount of the 2026 Notes for an aggregate cash repurchase price of $309.1 million and aggregate transaction costs of $2.0 million. 

During the year ended December 31, 2024, we entered into separate, privately negotiated transactions with certain holders of the 2026 Notes to exchange $157.9 million aggregate principal amount of the 2026 Notes for $150.0 million aggregate principal amount of 7.75% convertible senior notes due 2028 (the “2028 Notes”) and aggregate transaction costs of $5.8 million. 

The remaining 2026 Notes with an aggregate principal balance of $188.6 million will mature on March 15, 2026, unless earlier converted, redeemed or repurchased.

48

Cash Flows

The following table summarizes our cash flows for the period indicated:

Six months ended June 30,20252024(in thousands)Net cash provided by operating activities$43,086 $6,184 Net cash provided by (used in) investing activities$(248,839)$41,675 Net cash provided by (used in) financing activities$1,810 $(8,673)

Cash Flows from Operating Activities

For the six months ended June 30, 2025, cash provided by operating activities was $43.1 million, consisting primarily of our net loss of $76.7 million, adjusted for non-cash items of $114.7 million, and net cash flows used in operating assets and liabilities of $5.0 million. The main drivers of the changes in operating assets and liabilities were a $17.9 million increase in other liabilities, a $6.0 million increase in accounts payable due to timing of payments and a $2.3 million increase in prepaid expenses and other current assets. This was offset by a $8.2 million decrease in other assets, $7.9 million of net operating lease payments, a net decrease of accounts receivable of $3.3 million, primarily due to the timing of cash receipts from our customers and a $1.8 million decrease in accrued expenses due to timing of payments.

For the six months ended June 30, 2024, cash provided by operating activities was $6.2 million, consisting primarily of our net loss of $