- Record quarterly revenue exceeded high-end of quarterly
guidance range
- Repurchased $235 million of convertible debt at a 25% discount
to par
- Second quarter Net Retention Rate (LTM) of 117%
Fastly, Inc. (NYSE: FSLY), the world’s fastest edge cloud
platform, today announced financial results for its second quarter
ended June 30, 2022.
“We are pleased to continue our revenue momentum into 2022,
exceeding the top end of our guidance range and representing
another record revenue quarter, further demonstrating Fastly’s
value with our existing and new customers,” said Joshua Bixby, CEO
of Fastly.
“Against the backdrop of an uncertain economic environment, our
customers are expanding their usage with Fastly and taking interest
in our newer products,” continued Bixby. “Coupled with accelerated
product delivery and continued market validation by leading
research firms, we see renewed growth in our Enterprise customer
base, prompting us to increase our annual revenue guidance.”
Fastly today separately announced that the Board of Directors
has named Todd Nightingale as Chief Executive Officer to lead the
company effective September 1, 2022. As previously announced, he
will succeed Joshua Bixby, who will remain with the Company as an
advisor. Nightingale joins Fastly from Cisco, where he currently
serves as Executive Vice President and General Manager of
Enterprise Networking & Cloud, leading business strategy and
development efforts for Cisco's multi-billion dollar core
portfolio.
Three months endedJune 30, Six months endedJune 30,
2022
2021
2022
2021
Revenue
$
102,518
$
85,026
$
204,900
$
169,878
Gross Margin GAAP gross margin
44.9
%
52.6
%
46.1
%
54.2
%
Non-GAAP gross margin
50.4
%
57.6
%
51.5
%
58.9
%
Operating loss GAAP operating loss
$
(68,968
)
$
(57,468
)
$
(131,972
)
$
(107,431
)
Non-GAAP operating loss
$
(26,893
)
$
(17,560
)
$
(44,633
)
$
(30,465
)
Net loss per share GAAP net loss per common share—basic and
diluted
$
(0.14
)
$
(0.51
)
$
(0.67
)
$
(0.95
)
Non-GAAP net loss per common share—basic and diluted
$
(0.23
)
$
(0.15
)
$
(0.38
)
$
(0.27
)
Second Quarter 2022 Financial Summary
- Total revenue of $102.5 million, representing flat sequential
growth and 21% year-over-year growth.
- GAAP gross margin of 44.9%, compared to 52.6% in the second
quarter of 2021. Non-GAAP gross margin of 50.4%, compared to 57.6%
in the second quarter of 2021.
- GAAP net loss of $16.4 million, compared to $58.3 million in
the second quarter of 2021. Non-GAAP net loss of $28.0 million,
compared to $17.4 million in the second quarter of 2021.
- GAAP net loss per basic and diluted shares of $0.14 compared to
$0.51 in the second quarter of 2021. Non-GAAP net loss per basic
and diluted shares of $0.23, compared to $0.15 in the second
quarter of 2021.
- Repurchased $235.0 million in aggregate principal amount of
convertible debt for $176.4 million, a 25% discount to par, before
related fees and transaction costs, reducing total debt balance to
$703.4 million from $934.1 million and recording a $54.4 million
net gain.
Key Metrics
- Trailing 12 month net retention rate (NRR LTM)1 increased to
117% in the second quarter from 115% in the first quarter
2022.
- Dollar-Based Net Expansion Rate (DBNER)2 increased to 120% in
the second quarter from 118% in the first quarter 2022.
- Total customer count of 2,894 in the second quarter, of which
471 were enterprise3 customers.
- Average enterprise customer spend of $730K in the second
quarter, up 1% quarter-over-quarter.
For a reconciliation of non-GAAP financial measures to their
corresponding GAAP measures, please refer to the reconciliation
table at the end of this press release.
Second Quarter Business Highlights
- Peer-recognized as a Customers’ Choice in the 2022 Gartner Peer
Insights “Voice of the Customer”: Global CDN; Fastly received the
highest customer rating of 4.8 out of 5 stars and highest customer
willingness to recommend (97%), as of February 2022.
- Acquired Glitch, a platform of 1.8 million developers, bringing
together two of the world’s best ecosystems for application
development into a single, seamless developer experience to deliver
globally performant, secure and reliable applications at
scale.
- Introduced Fastly Security Labs, a new program that empowers
customers to continuously innovate by being the first to test new
detection and security features directly with the Security Product
team, bolstering our feedback loops for Fastly’s Next-Gen WAF.
- Introduced Fastly’s new Object Store offering global, durable
storage for compute functions at the edge allowing developers to
store, control, or cache their data to reduce origin dependency and
unlock new use cases.
Third Quarter and Full Year 2022 Guidance
Q3 2022 Full Year 2022 Total Revenue
(millions) $102 - $105 $415 - $425
Non-GAAP Operating Loss
(millions) ($21.5) - ($18.5) ($78) - ($72)
Non-GAAP Net Loss
per share (4)(5) ($0.18) - ($0.15) ($0.68) - ($0.63)
A reconciliation of non-GAAP guidance measures to corresponding
GAAP measures is not available on a forward-looking basis without
unreasonable effort due to the uncertainty of expenses that may be
incurred in the future and cannot be reasonably determined or
predicted at this time, although it is important to note that these
factors could be material to Fastly’s future GAAP financial
results.
Conference Call Information
Fastly will host an investor conference call to discuss its
results at 2:00 p.m. PT / 5:00 p.m. ET on Wednesday, August 3,
2022.
Date:
Wednesday, August 3, 2022
Time:
2:00 p.m. PT / 5:00 p.m. ET
Webcast:
https://investors.fastly.com
Dial-in:
888-330-2022 (US/CA) or 646-960-0690
(Intl.)
Conf. ID#:
7543239
Please dial in at least 10 minutes prior to the 2:00 p.m. PT
start time. A live webcast of the call will be available at
https://investors.fastly.com where listeners may log on to the
event by selecting the webcast link under the “Quarterly Results”
section.
A telephone replay of the conference call will be available at
approximately 5:00 p.m. PT, August 3 through August 17, 2022 by
dialing 800-770-2030 or 647-362-9199 and entering the passcode
7543239.
About Fastly
Fastly’s powerful and programmable edge cloud platform helps the
world’s top brands deliver the fastest online experiences possible,
while improving site performance, enhancing security, and
empowering innovation at global scale. With world-class support
that consistently achieves 95%+ customer satisfaction ratings*,
Fastly’s beloved suite of edge compute, delivery, and security
offerings has been recognized as a leader by industry analysts such
as IDC, Forrester and Gartner. Compared to legacy providers,
Fastly’s powerful and modern network architecture is the fastest on
the planet, empowering developers to deliver secure websites and
apps at global scale with rapid time-to-market and industry-leading
cost savings. Thousands of the world’s most prominent organizations
trust Fastly to help them upgrade the internet experience,
including Reddit, Pinterest, Stripe, Neiman Marcus, The New York
Times, Epic Games, and GitHub. Learn more about Fastly at
https://www.fastly.com/, and follow us @fastly.
*As of June 1, 2022
Forward-Looking Statements
This press release contains “forward-looking” statements that
are based on our beliefs and assumptions and on information
currently available to us on the date of this press release.
Forward-looking statements may involve known and unknown risks,
uncertainties, and other factors that may cause our actual results,
performance, or achievements to be materially different from those
expressed or implied by the forward-looking statements. These
statements include, but are not limited to, statements regarding
our future financial and operating performance, including our
outlook and guidance, the demand for our platform, and our ability
to deliver on our long-term strategy. Except as required by law, we
assume no obligation to update these forward-looking statements
publicly or to update the reasons actual results could differ
materially from those anticipated in the forward-looking
statements, even if new information becomes available in the
future. Important factors that could cause our actual results to
differ materially are detailed from time to time in the reports
Fastly files with the Securities and Exchange Commission (“SEC”),
including in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2021. Additional information will also be set
forth in our Quarterly Report on Form 10-Q for the fiscal quarter
ended June 30, 2022. Copies of reports filed with the SEC are
posted on Fastly’s website and are available from Fastly without
charge.
Use of Non-GAAP Financial Measures
To supplement our condensed consolidated financial statements,
which are prepared and presented in accordance with accounting
principles generally accepted in the United States ("GAAP"), the
Company uses the following non-GAAP measures of financial
performance: non-GAAP gross profit, non-GAAP gross margin, non-GAAP
operating loss, non-GAAP net loss, non-GAAP basic and diluted net
loss per common share, non-GAAP research and development, non-GAAP
sales and marketing, non-GAAP general and administrative, free cash
flow and adjusted EBITDA. The presentation of this additional
financial information is not intended to be considered in isolation
from, as a substitute for, or superior to, the financial
information prepared and presented in accordance with GAAP. These
non-GAAP measures have limitations in that they do not reflect all
of the amounts associated with our results of operations as
determined in accordance with GAAP. In addition, these non-GAAP
financial measures may be different from the non-GAAP financial
measures used by other companies. These non-GAAP measures should
only be used to evaluate our results of operations in conjunction
with the corresponding GAAP measures. Management compensates for
these limitations by reconciling these non-GAAP financial measures
to the most comparable GAAP financial measures within our earnings
releases.
Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating
loss, non-GAAP net loss and non-GAAP basic and diluted net loss per
common share, non-GAAP research and development, non-GAAP sales and
marketing, and non-GAAP general and administrative differ from GAAP
in that they exclude stock-based compensation expense, amortization
of acquired intangible assets, acquisition-related expenses, net
gain on extinguishment of debt and amortization of debt discount
and issuance costs.
Adjusted EBITDA: excludes stock-based compensation
expense, depreciation and other amortization expenses, amortization
of acquired intangible assets, acquisition-related expenses,
interest income, interest expense, including amortization of debt
discount and issuance costs, net gain on extinguishment of debt,
other income (expense), net, and income taxes.
Acquisition-related Expenses: consists of
acquisition-related charges that are not related to ongoing
operations. Management considers its operating results without the
acquisition-related expenses when evaluating its ongoing non-GAAP
performance and its adjusted EBITDA performance because these
charges may not be reflective of our core business, ongoing
operating results, or future outlook.
Amortization of Acquired Intangible Assets: consists of
non-cash charges that can be affected by the timing and magnitude
of asset purchases and acquisitions. Amortization of acquired
intangible assets is included in the following cost and expense
line items of our GAAP presentation: cost of revenue and sales and
marketing. Management considers its operating results without the
amortization expense of our acquired intangible assets when
evaluating its non-GAAP performance and its adjusted EBITDA
performance because these charges are non-cash expenses that can be
affected by the timing and magnitude of asset purchases and
acquisitions and may not be reflective of our core business,
ongoing operating results, or future outlook.
Amortization of Debt Discount and Issuance Costs:
consists primarily of amortization expense related to our debt
obligations. Management considers its non-GAAP net loss and
adjusted its EBITDA results without this activity when evaluating
its ongoing performance because it is not believed by management to
be reflective of our core business, ongoing operating results or
future outlook. These are included in our total interest
expense.
Capital Expenditures: consists of cash used for purchases
of property and equipment, net of proceeds from sale of property
and equipment, capitalized internal-use software and payments on
finance lease obligations, as reflected in our statement of cash
flows.
Depreciation and Other Amortization Expense: consists of
non-cash charges that can be affected by the timing and magnitude
of asset purchases. Depreciation and amortization expense is
included in the following cost and expense line items of our GAAP
presentation: cost of revenue, research and development, sales and
marketing, and general and administrative. Management considers its
operating results without the depreciation and other amortization
expense when evaluating its adjusted EBITDA performance because
these charges are non-cash expenses that can be affected by the
timing and magnitude of asset purchases and may not be reflective
of our core business, ongoing operating results, or future
outlook.
Free Cash Flow: calculated as net cash used in operating
activities less capital expenditures, including any advance
payments made related to capital expenditures.
Income Taxes: consists primarily of expenses recognized
related to state and foreign income taxes. Management considers its
adjusted EBITDA results without these charges when evaluating its
ongoing performance because it is not believed by management to be
reflective of our core business, ongoing operating results or
future outlook.
Interest Expense: consists primarily of interest expense
related to our debt instruments, including amortization of debt
discount and issuance costs. Management considers its operating
results without total interest expense when evaluating its non-GAAP
net loss performance and its adjusted EBITDA performance because it
is not believed by management to be reflective of our core
business, ongoing operating results or future outlook.
Interest Income: consists primarily of interest income
related to our marketable securities. Management considers its
non-GAAP net loss and its adjusted EBITDA results without this
activity when evaluating its ongoing performance because it is not
believed by management to be reflective of our core business,
ongoing operating results or future outlook.
Net Gain on Debt Extinguishment: relates to net gain on
the partial repurchase of our outstanding convertible debt,
Management considers its non-GAAP net loss and adjusted EBITDA
results without this activity when evaluating its ongoing
performance because it is not believed by management to be
reflective of our core business, ongoing operating results or
future outlook.
Other Income (Expense), Net: consists primarily of
foreign currency transaction gains and losses. Management considers
its operating results without other income (expense), net when
evaluating its adjusted EBITDA performance because it is not
believed by management to be reflective of our core business,
ongoing operating results or future outlook.
Stock-based Compensation Expense: consists of expenses
for stock options, restricted stock units, performance awards,
restricted stock awards and Employee Stock Purchase Plan ("ESPP")
under our equity incentive plans. Stock-based compensation is
included in the following cost and expense line items of our GAAP
presentation: cost of revenue, research and development, sales and
marketing, and general and administrative.
Although stock-based compensation is an expense for the Company
and is viewed as a form of compensation, management excludes
stock-based compensation from our non-GAAP measures and adjusted
EBITDA results for purposes of evaluating our continuing operating
performance primarily because it is a non-cash expense not believed
by management to be reflective of our core business, ongoing
operating results, or future outlook. In addition, the value of
some stock-based instruments is determined using formulas that
incorporate variables, such as market volatility, that are beyond
our control.
Management believes these non-GAAP financial measures and
adjusted EBITDA serve as useful metrics for our management and
investors because they enable a better understanding of the
long-term performance of our core business and facilitate
comparisons of our operating results over multiple periods and to
those of peer companies, and when taken together with the
corresponding GAAP financial measures and our reconciliations,
enhance investors' overall understanding of our current financial
performance.
Key Metrics
1 We calculate LTM Net Retention Rate by
dividing the total customer revenue for the prior twelve-month
period (“prior 12-month period”) ending at the beginning of the
last twelve-month period (“LTM period”) minus revenue contraction
due to billing decreases or customer churn, plus revenue expansion
due to billing increases during the LTM period from the same
customers by the total prior 12-month period revenue. We believe
the LTM Net Retention Rate is supplemental as it removes some of
the volatility that is inherent in a usage-based business
model.
2 We calculate Dollar-Based Net Expansion
Rate by dividing the revenue for a given period from customers who
remained customers as of the last day of the given period (the
“current” period) by the revenue from the same customers for the
same period measured one year prior (the “base” period). The
revenue included in the current period excludes revenue from (i)
customers that churned after the end of the base period and (ii)
new customers that entered into a customer agreement after the end
of the base period.
3 Enterprise customers are defined as those
spending $100,000 or more in a twelve-month period.
4 Assumes weighted average basic shares
outstanding of 122.4 million in Q3 2022 and 121.8 million for the
full year 2022.
5 Non-GAAP Net Loss per share is calculated
as full-year Non-GAAP Net Loss divided by weighted average basic
shares for the full year 2022.
Condensed Consolidated Statements of Operations (in
thousands, except per share amounts, unaudited)
Three months ended June
30,
Six months ended June
30,
2022
2021
2022
2021
Revenue
$
102,518
$
85,026
$
204,900
$
169,878
Cost of revenue(1)
56,466
40,320
110,381
77,814
Gross profit
46,052
44,706
94,519
92,064
Operating expenses: Research and development(1)
38,717
30,346
79,154
59,334
Sales and marketing(1)
46,760
36,334
88,240
71,206
General and administrative(1)
29,543
35,494
59,097
68,955
Total operating expenses
115,020
102,174
226,491
199,495
Loss from operations
(68,968
)
(57,468
)
(131,972
)
(107,431
)
Net gain on extinguishment of debt
54,391
-
54,391
-
Interest income
1,502
276
2,183
450
Interest expense
(1,530
)
(1,436
)
(3,152
)
(2,097
)
Other income (expense)
(1,673
)
178
(1,952
)
114
Loss before income taxes
(16,278
)
(58,450
)
(80,502
)
(108,964
)
Income tax expense (benefit)
159
(155
)
199
14
Net loss
$
(16,437
)
$
(58,295
)
$
(80,701
)
$
(108,978
)
Net income (loss) per share attributable to common stockholders,
basic and diluted
$
(0.14
)
$
(0.51
)
$
(0.67
)
$
(0.95
)
Weighted-average shares used in computing net income (loss) per
share attributable to common stockholders, basic and diluted
121,242
115,326
120,295
114,733
__________ (1) Includes stock-based compensation expense as
follows:
Three months endedJune 30, Six months endedJune
30,
2022
2021
2022
2021
Cost of revenue
$
3,188
$
1,828
$
6,134
$
3,014
Research and development
13,889
8,634
32,478
16,592
Sales and marketing
10,184
5,631
20,278
10,639
General and administrative
7,717
17,333
16,110
34,019
Total
$
34,978
$
33,426
$
75,000
$
64,264
Reconciliation of GAAP to Non-GAAP Financial Measures (in
thousands, unaudited)
Three months ended June
30,
Six months ended June
30,
2022
2021
2022
2021
Gross Profit GAAP gross profit
$
46,052
$
44,706
$
94,519
$
92,064
Stock-based compensation
3,188
1,828
6,134
3,014
Amortization of acquired intangible assets
2,475
2,475
4,950
4,950
Non-GAAP gross profit
$
51,715
$
49,009
$
105,603
$
100,028
GAAP gross margin
44.9
%
52.6
%
46.1
%
54.2
%
Non-GAAP gross margin
50.4
%
57.6
%
51.5
%
58.9
%
Research and development GAAP research and
development
$
38,717
$
30,346
$
79,154
$
59,334
Stock-based compensation
(13,889
)
(8,634
)
(32,478
)
(16,592
)
Non-GAAP research and development
$
24,828
$
21,712
$
46,676
$
42,742
Sales and marketing GAAP sales and marketing
$
46,760
$
36,334
$
88,240
$
71,206
Stock-based compensation
(10,184
)
(5,631
)
(20,278
)
(10,639
)
Amortization of acquired intangible assets
(2,710
)
(2,709
)
(5,419
)
(5,525
)
Non-GAAP sales and marketing
$
33,866
$
27,994
$
62,543
$
55,042
General and administrative GAAP general and
administrative
$
29,543
$
35,494
$
59,097
$
68,955
Stock-based compensation
(7,717
)
(17,333
)
(16,110
)
(34,019
)
Acquisition-related expenses
(1,912
)
(1,298
)
(1,970
)
(2,227
)
Non-GAAP general and administrative
$
19,914
$
16,863
$
41,017
$
32,709
Operating loss GAAP operating loss
$
(68,968
)
$
(57,468
)
$
(131,972
)
$
(107,431
)
Stock-based compensation
34,978
33,426
75,000
64,264
Amortization of acquired intangible assets
5,185
5,184
10,369
10,475
Acquisition-related expenses
1,912
1,298
1,970
2,227
Non-GAAP operating loss
$
(26,893
)
$
(17,560
)
$
(44,633
)
$
(30,465
)
Net loss GAAP net loss
$
(16,437
)
$
(58,295
)
$
(80,701
)
$
(108,978
)
Stock-based compensation
34,978
33,426
75,000
64,264
Amortization of acquired intangible assets
5,185
5,184
10,369
10,475
Acquisition-related expenses
1,912
1,298
1,970
2,227
Net gain on extinguishment of debt
(54,391
)
-
(54,391
)
-
Amortization of debt discount and issuance costs
776
993
1,739
993
Non-GAAP loss
$
(27,977
)
$
(17,394
)
$
(46,014
)
$
(31,019
)
Non-GAAP net loss per common share—basic and diluted
$
(0.23
)
$
(0.15
)
$
(0.38
)
$
(0.27
)
Weighted average basic and diluted common shares
121,242
115,326
120,295
114,733
Three months ended June
30,
Six months ended June
30,
2022
2021
2022
2021
Adjusted EBITDA GAAP net loss
$
(16,437
)
$
(58,295
)
$
(80,701
)
$
(108,978
)
Stock-based compensation
34,978
33,426
75,000
64,264
Depreciation and other amortization
10,860
7,000
20,835
13,491
Amortization of acquired intangible assets
5,185
5,184
10,369
10,475
Acquisition-related expenses
1,912
1,298
1,970
2,227
Interest income
(1,502
)
(276
)
(2,183
)
(450
)
Interest expense
754
443
1,413
1,104
Amortization of debt discount and issuance costs
776
993
1,739
993
Net gain on extinguishment of debt
(54,391
)
-
(54,391
)
-
Other expense (income)
1,673
(178
)
1,952
(114
)
Income tax expense (benefit)
159
(155
)
199
14
Adjusted EBITDA
$
(16,033
)
$
(10,560
)
$
(23,798
)
$
(16,974
)
Condensed Consolidated Balance Sheets (in thousands)
As ofJune 30, 2022 As ofDecember 31, 2021
(unaudited) (audited) ASSETS Current
assets: Cash and cash equivalents
$
62,510
$
166,068
Marketable securities, current
419,905
361,795
Accounts receivable, net of allowance for credit losses
68,218
64,625
Prepaid expenses and other current assets
29,037
32,160
Total current assets
579,670
624,648
Property and equipment, net
173,950
166,961
Operating lease right-of-use assets, net
69,861
69,631
Goodwill
670,186
636,805
Intangible assets, net
93,978
102,596
Marketable securities, non-current
284,951
528,911
Other assets
60,199
29,468
Total assets
$
1,932,795
$
2,159,020
LIABILITIES AND STOCKHOLDERS’ EQUITY Current
liabilities: Accounts payable
$
10,011
$
9,257
Accrued expenses
49,943
36,112
Finance lease liabilities, current
28,088
21,125
Operating lease liabilities, current
19,243
20,271
Other current liabilities
33,705
45,107
Total current liabilities
140,990
131,872
Long-term debt
703,375
933,205
Finance lease liabilities, noncurrent
26,479
22,293
Operating lease liabilities, noncurrent
60,657
55,114
Other long-term liabilities
7,556
2,583
Total liabilities
939,057
1,145,067
Stockholders’ equity: Class A common stock
2
2
Additional paid-in capital
1,597,869
1,527,468
Accumulated other comprehensive loss
(12,542
)
(2,627
)
Accumulated deficit
(591,591
)
(510,890
)
Total stockholders’ equity
993,738
1,013,953
Total liabilities and stockholders’ equity
$
1,932,795
$
2,159,020
Condensed Consolidated Statements of Cash Flows (in
thousands, unaudited) Three months endedJune 30, Six
months endedJune 30,
2022
2021
2022
2021
Cash flows from operating activities: Net loss
$
(16,437
)
$
(58,295
)
$
(80,701
)
$
(108,978
)
Adjustments to reconcile net loss to net cash used in operating
activities: Depreciation expense
10,736
6,927
20,586
13,346
Amortization of intangible assets
5,309
5,257
10,618
10,620
Amortization of right-of-use assets and other
6,539
6,303
13,378
12,660
Amortization of debt discount and issuance costs
775
937
1,739
1,269
Amortization of deferred contract costs
2,138
1,535
3,989
2,946
Stock-based compensation
34,978
33,426
75,000
64,264
Provision for credit losses
402
225
529
(195
)
Interest on finance lease
(649
)
(405
)
(1,240
)
(735
)
Loss on disposals of property and equipment
586
-
854
27
Amortization and accretion of discounts and premiums on investments
894
-
1,851
-
Net gain on extinguishment of debt
(54,391
)
-
(54,391
)
-
Other adjustments
(67
)
749
61
813
Changes in operating assets and liabilities: Accounts receivable
5,097
(3,927
)
(4,122
)
(5,612
)
Prepaid expenses and other current assets
(2,701
)
(3,814
)
(4,812
)
(5,494
)
Other assets
(3,948
)
(2,137
)
(6,399
)
(5,089
)
Accounts payable
3,336
(1,957
)
844
162
Accrued expenses
(3,729
)
(3,080
)
1,162
(3,835
)
Operating lease liabilities
(6,280
)
(6,491
)
(12,837
)
(12,856
)
Other liabilities
732
7,733
4,021
8,804
Net cash used in operating activities
(16,680
)
(17,014
)
(29,870
)
(27,883
)
Cash flows from investing activities: Purchases of
marketable securities
(207,286
)
(269,537
)
(355,479
)
(333,868
)
Sales of marketable securities
159,552
-
161,853
12,497
Maturities of marketable securities
127,333
31,750
367,880
57,253
Business acquisitions, net of cash acquired and other related
payments
(25,224
)
-
(25,999
)
-
Advance payment for purchase of property and equipment
(29,310
)
-
(29,310
)
-
Purchases of property and equipment
(4,151
)
(2,934
)
(8,815
)
(11,013
)
Proceeds from sale of property and equipment
241
-
241
-
Capitalized internal-use software
(4,926
)
(1,691
)
(8,736
)
(2,680
)
Purchase of intangible assets
-
(2,093
)
-
(2,093
)
Net cash provided by (used in) investing activities
16,229
(244,505
)
101,635
(279,904
)
Cash flows from financing activities: Issuance of
convertible note, net of issuance costs
-
-
-
930,775
Payments of other debt issuance costs
-
-
-
(1,351
)
Net cash paid for debt extinguishment
(177,082
)
-
(177,082
)
-
Repayments of finance lease liabilities
(6,147
)
(3,628
)
(11,029
)
(6,579
)
Cash received for restricted stock sold in advance of vesting
conditions
-
-
10,655
-
Cash paid for early sale of restricted shares
(3,539
)
-
(7,037
)
-
Proceeds from exercise of vested stock options
1,721
2,886
4,769
5,605
Proceeds from employee stock purchase plan
1,571
1,493
3,977
4,564
Net cash provided by (used in) financing activities
(183,476
)
751
(175,747
)
933,014
Effects of exchange rate changes on cash and cash equivalents
(100
)
(29
)
(319
)
(141
)
Net increase (decrease) in cash and cash equivalents
(184,027
)
(260,797
)
(104,301
)
625,086
Cash and cash equivalents and restricted cash at beginning of
period
246,687
949,763
166,961
63,880
Cash and cash equivalents and restricted cash at end of
period
62,660
688,966
62,660
688,966
Reconciliation of cash, cash equivalents, and restricted cash as
shown in the statements of cash flows: Cash and cash
equivalents
62,510
687,986
62,510
687,986
Restricted cash, current
150
87
150
87
Restricted cash, non-current
-
893
-
893
Total cash, cash equivalents, and restricted cash
$
62,660
$
688,966
$
62,660
$
688,966
Free Cash Flow (in thousands, unaudited)
Three months endedJune 30, Six months
endedJune 30,
2022
2021
2022
2021
Cash flow provided by (used in) operations
$
(16,680
)
$
(17,014
)
$
(29,870
)
$
(27,883
)
Capital expenditures(1)
(14,983
)
(8,253
)
(28,339
)
(20,272
)
Advance payment for purchase of property and equipment(2)
(29,310
)
-
(29,310
)
-
Free Cash Flow
$
(60,973
)
$
(25,267
)
$
(87,519
)
$
(48,155
)
__________ (1) Capital Expenditures are defined as cash used
for purchases of property and equipment, net of proceeds from sale
of property and equipment, and capitalized internal-use software
and payments on finance lease obligations, as reflected in our
statement of cash flows. (2) Advance payments for purchase of
property and equipment relate to prepayments made for our capital
expenditures in advance of receiving the asset, as reflected in our
statement of cash flows.
Source: Fastly, Inc.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220803005723/en/
Investor Contact: Vernon Essi, Jr. ir@fastly.com
Media Contact: press@fastly.com
Fastly (NYSE:FSLY)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Fastly (NYSE:FSLY)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024