Company: FSLY
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001517413-25-000111
Chunk: 282

Company: Fastly, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 282
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7 %Other4,809 2,924 64 %Total revenue$144,474 $133,520 8 %Percentage of revenue:Network Services78 %79 %(1)%Security18 %19 %(1)%Other4 %2 %2 %

Revenue was $144.5 million for the three months ended March 31, 2025, compared to $133.5 million for the three months ended March 31, 2024, an increase of $11.0 million, or 8%.

In both the three months ended March 31, 2025 and 2024, approximately 95% of our revenue was driven by usage on our platform. Revenue was primarily from existing customers, as revenue from new customers contributed less than 10% of our revenue. The proportion of the revenue contribution between new and existing customers is consistent with prior periods and typical customer behavior as customers tend to contribute more revenue over time as their use of the platform increases. The remainder of our revenue was generated by our other products and services, including support and professional services.

Network Services revenue was $113.3 million for the three months ended March 31, 2025, compared to $106.0 million for the three months ended March 31, 2024, an increase of $7.3 million, or 7%. The increase in Network Services revenue was primarily driven by growth in usage from existing customers. Security revenue was $26.4 million for the three months ended 

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March 31, 2025, compared to $24.6 million for the three months ended March 31, 2024, an increase of $1.8 million, or 7%. The increase in Security revenue was primarily driven by an increase in Next-Gen WAF revenue, partially offset by a decrease in Fastly legacy WAF revenue. Other revenue was $4.8 million for the three months ended March 31, 2025, compared to $2.9 million for the three months ended March 31, 2024, an increase of $1.9 million, or 64%. The increase in Other revenue was primarily driven by further adoption of Compute solutions.

U.S. revenue was $110.5 million, or 77% of revenue, for the three months ended March 31, 2025, compared to $98.5 million, or 74% of revenue, for the three months ended March 31