Fastly Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 26, 2025
FSLY$16.24+1.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(158,058) | $(133,088) | $(190,774) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation expense | 54,037 | 51,602 | 42,619 |
| Amortization of intangible assets | 19,599 | 20,424 | 21,696 |
| Non-cash lease expense | 22,474 | 22,678 | 25,448 |
| Amortization of debt discount and issuance costs | 1,377 | 2,476 | 3,169 |
| Amortization of deferred contract costs | 18,623 | 15,548 | 8,916 |
| Stock-based compensation | 107,930 | 136,303 | 145,796 |
| Deferred income taxes | 1,793 | (900) | — |
| Provision for credit losses | 3,834 | 2,025 | 2,406 |
| Loss on disposals of property and equipment | 540 | 505 | 854 |
| Amortization of premiums (discounts) on investments | (3,973) | (646) | 3,137 |
| Impairment of operating lease right-of-use assets | 371 | 744 | 2,083 |
| Impairment expense | 4,144 | 4,316 | — |
| Net gain on extinguishment of debt | (1,365) | (52,416) | (54,391) |
| Other adjustments | (814) | 648 | 3,688 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 676 | (32,945) | (27,359) |
| Prepaid expenses and other current assets | (7,627) | 8,709 | (6,758) |
| Other assets | (11,869) | (23,137) | (35,396) |
| Accounts payable | 611 | 382 | (4,724) |
| Accrued expenses | (2,922) | (7,856) | 8,289 |
| Operating lease liabilities | (26,541) | (22,074) | (22,778) |
| Other liabilities | (6,434) | 7,064 | 4,447 |
| Net cash (used in) provided by operating activities | 16,406 | 362 | (69,632) |
| Cash flows from investing activities: | |||
| Purchases of marketable securities | (155,099) | (132,233) | (355,479) |
| Sales of marketable securities | — | 25,625 | 161,918 |
| Maturities of marketable securities | 371,189 | 433,767 | 535,040 |
| Business acquisitions, net of cash acquired | — | — | (25,902) |
| Advance payment for purchase of property and equipment | (790) | — | (42,197) |
| Purchases of property and equipment | (10,330) | (10,976) | (19,975) |
| Proceeds from sale of property and equipment | 24 | 49 | 492 |
| Capitalized internal-use software | (26,094) | (21,292) | (18,146) |
| Net cash provided by investing activities | 178,900 | 294,940 | 235,751 |
| Cash flows from financing activities: | |||
| Payments of debt issuance costs | (5,729) | — | — |
| Cash paid for debt extinguishment | — | (310,540) | (177,082) |
| Repayments of finance lease liabilities | (14,958) | (27,175) | (22,532) |
| Cash received for restricted stock sold in advance of vesting conditions | — | — | 10,655 |
| Cash paid for early sale of restricted shares | — | — | (10,655) |
| Payment of deferred consideration for business acquisitions | (3,771) | (4,393) | — |
| Proceeds from exercise of vested stock options | 1,115 | 2,169 | 5,688 |
| Proceeds from employee stock purchase plan | 6,244 | 8,559 | 4,777 |
| Net cash used in financing activities | (17,099) | (331,380) | (189,149) |
| Effects of exchange rate changes on cash, cash equivalents, and restricted cash | (103) | 608 | (390) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 178,104 | (35,470) | (23,420) |
| Cash, cash equivalents, and restricted cash at beginning of period | 108,071 | 143,541 | 166,961 |
| Cash, cash equivalents, and restricted cash at end of period | $286,175 | $108,071 | $143,541 |
CONSOLIDATED STATEMENTS OF CASH FLOWS—Continued
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $527 | $1,574 | $2,656 |
| Cash paid for income taxes, net of refunds received | $809 | $331 | $250 |
| Noncash investing and financing activities: | |||
| Property and equipment additions not yet paid in cash or financed | $983 | $640 | $1,492 |
| Capitalized stock-based compensation | $9,716 | $9,975 | $7,997 |
| Assets obtained in exchange for operating lease obligations | $8,543 | $5,769 | $29,606 |
| Assets obtained in exchange for finance lease obligations | $— | $— | $23,575 |
| Net noncash change in operating lease assets and liabilities associated with modifications and terminations | $10,439 | $(4,425) | $3,126 |
| Interest paid for finance leases | $378 | $1,329 | $2,381 |
| Purchase consideration associated with business combination, accrued but not paid | $— | $— | $8,000 |
| Deployments of prepaid capital equipment | $14,598 | $8,665 | $5,184 |
| Debt issued in exchange for extinguishment of existing notes | $155,730 | $— | $— |
| Debt retired in exchange for issuance of new notes | $(157,095) | $— | $— |
| Reconciliation of cash, cash equivalents, and restricted cash as shown in the statements of cash flows | |||
| Cash and cash equivalents | $286,175 | $107,921 | $143,391 |
| Restricted cash | — | 150 | 150 |
| Total cash, cash equivalents, and restricted cash | $286,175 | $108,071 | $143,541 |
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