Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 343

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 343
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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.

Cash Flows

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

Three months ended March 31,20252024(in thousands)Net cash provided by operating activities$17,288 $11,132 Net cash provided by (used in) investing activities$(178,885)$33,684 Net cash provided by (used in) financing activities$828 $(1,880)

Cash Flows from Operating Activities

For the three months ended March 31, 2025, cash provided by operating activities was $17.3 million, consisting primarily of our net loss of $39.1 million, adjusted for non-cash items of $57.5 million, and net cash flows used in operating assets and liabilities of $1.1 million. The main drivers of the changes in operating assets and liabilities were $5.6 million of operating lease payments, a net decrease of accounts receivable of $4.0 million, primarily due to the timing of cash receipts from our customers, a $3.4 million decrease in accrued expenses due to timing of payments and a $2.1 million decrease in other assets. This was offset by a $9.2 million increase in other liabilities, a $2.6 million increase in accounts payable due to timing of payments, and a $2.2 million increase in prepaid expenses and other current assets.

For the three months ended March 31, 2024, cash provided by operating activities was $11.1 million, consisting primarily of our net loss of $43.4 million, adjusted for non-cash items of $60.6 million, and net cash flows used in operating assets and liabilities of $6.