Fastly (FSLY) 10-Q 1 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38897
Entity Registrant Name	FASTLY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-5411834
Entity Address, Address Line One	475 Brannan Street, Suite 300
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	844
Local Phone Number	432-7859
Title of 12(b) Security	Class A Common Stock, $0.00002 par value
Trading Symbol	FSLY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		136.6
Entity Central Index Key	0001517413
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 150,809	$ 107,921
Marketable securities, current	178,677	214,799
Accounts receivable, net of allowance for credit losses of $7,870 and $7,054 as of March 31, 2024 and December 31, 2023, respectively	107,517	120,498
Prepaid expenses and other current assets	23,207	20,455
Total current assets	460,210	463,673
Property and equipment, net	177,574	176,608
Operating lease right-of-use assets, net	54,420	55,212
Goodwill	670,356	670,356
Intangible assets, net	57,576	62,475
Marketable securities, non-current	1,743	6,088
Other assets	84,044	90,779
Total assets	1,505,923	1,525,191
Current liabilities:
Accounts payable	5,485	5,611
Accrued expenses	35,555	61,818
Finance lease liabilities, current	11,974	15,684
Operating lease liabilities, current	22,580	24,042
Other current liabilities	44,633	40,539
Total current liabilities	120,227	147,694
Long-term debt	343,837	343,507
Finance lease liabilities, non-current	440	1,602
Operating lease liabilities, non-current	46,857	48,484
Other long-term liabilities	2,756	4,416
Total liabilities	514,117	545,703
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock	3	3
Additional paid-in capital	1,870,503	1,815,245
Accumulated other comprehensive loss	(521)	(1,008)
Accumulated deficit	(878,179)	(834,752)
Total stockholders’ equity	991,806	979,488
Total liabilities and stockholders’ equity	$ 1,505,923	$ 1,525,191

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7,870	$ 7,054

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 133,520	$ 117,564
Cost of revenue	60,286	57,310
Gross profit	73,234	60,254
Operating expenses:
Research and development	38,248	37,431
Sales and marketing	49,607	44,271
General and administrative	31,639	25,827
Total operating expenses	119,494	107,529
Loss from operations	(46,260)	(47,275)
Interest income	3,848	4,186
Interest expense	(579)	(1,213)
Other expense, net	(89)	(250)
Loss before income tax expense	(43,080)	(44,552)
Income tax expense	347	135
Net loss	$ (43,427)	$ (44,687)
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.32)	$ (0.36)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.32)	$ (0.36)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	134,587	125,418
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	134,587	125,418

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Other Comprehensive Income [Abstract]
Net loss	$ (43,427)	$ (44,687)
Other comprehensive income:
Foreign currency translation adjustment	0	84
Gain on investments in available-for-sale-securities	487	3,608
Total other comprehensive income	487	3,692
Comprehensive loss	$ (42,940)	$ (40,995)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Restricted Stock Units	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		124,336
Beginning balance at Dec. 31, 2022	$ 955,158	$ 2		$ 1,666,106	$ (9,286)	$ (701,664)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)		44
Exercise of vested stock options	336			336
Vesting of restricted stock units (in shares)			1,211
Shares issued under bonus program (in shares)		1,193
Shares issued under bonus program	16,599			16,599
Stock-based compensation	27,457			27,457
Net loss	(44,687)					(44,687)
Other comprehensive income	3,692				3,692
Ending balance (in shares) at Mar. 31, 2023		126,784
Ending balance at Mar. 31, 2023	$ 958,555	$ 2		1,710,498	(5,594)	(746,351)
Beginning balance (in shares) at Dec. 31, 2023	133,000	132,992
Beginning balance at Dec. 31, 2023	$ 979,488	$ 3		1,815,245	(1,008)	(834,752)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)	71	71
Exercise of vested stock options	$ 111			111
Vesting of restricted stock units (in shares)			1,532
Shares issued under bonus program (in shares)		1,889
Shares issued under bonus program	26,849			26,849
Stock-based compensation	28,298			28,298
Net loss	(43,427)					(43,427)
Other comprehensive income	$ 487				487
Ending balance (in shares) at Mar. 31, 2024	136,500	136,484
Ending balance at Mar. 31, 2024	$ 991,806	$ 3		$ 1,870,503	$ (521)	$ (878,179)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (43,427)	$ (44,687)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	13,277	12,040
Amortization of intangible assets	4,899	5,175
Non-cash lease expense	5,556	6,115
Amortization of debt discount and issuance costs	354	716
Amortization of deferred contract costs	4,573	3,425
Stock-based compensation	31,821	28,151
Deferred income taxes	228	0
Provision for credit losses	953	533
Loss on disposals of property and equipment	399	251
Amortization of premiums (discounts) on investments	(1,158)	449
Other adjustments	(259)	(243)
Changes in operating assets and liabilities:
Accounts receivable	12,028	3,701
Prepaid expenses and other current assets	(2,700)	(634)
Other assets	(1,814)	(7,212)
Accounts payable	101	(175)
Accrued expenses	(8,760)	(6,827)
Operating lease liabilities	(7,606)	(5,750)
Other liabilities	2,667	(3,889)
Net cash provided by (used in) operating activities	11,132	(8,861)
Cash flows from investing activities:
Purchases of marketable securities	(56,948)	0
Maturities of marketable securities	99,080	227,211
Purchases of property and equipment	(1,603)	(3,494)
Proceeds from sale of property and equipment	0	22
Capitalized internal-use software	(6,845)	(4,209)
Net cash provided by investing activities	33,684	219,530
Cash flows from financing activities:
Repayments of finance lease liabilities	(4,872)	(8,645)
Proceeds from exercise of vested stock options	111	336
Proceeds from employee stock purchase plan	2,881	2,596
Net cash used in financing activities	(1,880)	(5,713)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	(48)	116
Net increase in cash, cash equivalents, and restricted cash	42,888	205,072
Cash, cash equivalents, and restricted cash at beginning of period	108,071	143,541
Cash, cash equivalents, and restricted cash at end of period	150,959	348,613
Supplemental disclosure of cash flow information:
Cash paid for interest	225	497
Cash paid for income taxes, net of refunds received	292	182
Cash paid for finance lease interest	162	633
Noncash investing and financing activities:
Net increase (decrease) in property and equipment included in accounts payable and accrued expenses	(459)	1,368
Stock-based compensation capitalized to internal-use software	2,942	1,286
Assets obtained in exchange for operating lease obligations	3,857	1,324
Net non-cash change in operating lease assets and liabilities associated with modifications and terminations	912	3,027
Deployments of prepaid capital equipment	3,724	1,413
Reconciliation of cash, cash equivalents, and restricted cash as shown in the statements of cash flows:
Cash and cash equivalents	150,809	348,463
Restricted cash, current	150	150
Total cash, cash equivalents, and restricted cash	$ 150,959	$ 348,613

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Fastly, Inc. has built an edge cloud platform that can process, serve, and secure its customers' applications as close to their end users as possible. The Company was incorporated in Delaware in 2011 and is headquartered in San Francisco, California. As used herein, “Fastly,” “the Company,” “its” and similar terms include Fastly, Inc. and its subsidiaries, unless the context indicates otherwise.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying condensed consolidated financial statements and footnotes have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), consistent in all material respects with those applied in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on February 21, 2024. The Company’s condensed consolidated financial statements include its accounts and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company’s condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of its quarterly results. The Company’s condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses, and related disclosures. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates, judgments, and assumptions used in these financial statements include, but are not limited to, those related to revenue, accounts receivable and related reserves, internal-use software development costs, the incremental borrowing rate related to the Company’s lease liabilities, fair value of assets acquired and liabilities assumed during business combinations, useful lives of acquired intangible assets and property and equipment, fair value of the Company’s long-lived assets as well as goodwill, income tax reserves, and accounting for stock-based compensation. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. The effects of material revisions in estimates are reflected in the consolidated financial statements in the period of change and prospectively from the date of the change in estimate. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies as compared to those described in “Note 2 – Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Recently Adopted and Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07 “Segment Reporting - Improvements to Reportable Segment Disclosures,” which updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. The guidance is effective for the Company's annual periods beginning in 2024 and interim periods beginning in the first quarter of fiscal year 2025. The Company is currently evaluating the impact of the new guidance. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The guidance is effective for the Company's annual periods beginning in 2025. The Company is currently evaluating the impact of the new guidance and intends to adopt the guidance prospectively when it becomes effective in 2025. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and accounts receivable. The Company’s cash, cash equivalents, and marketable securities primarily consisted of bank deposits, money market funds, investment-grade commercial paper, corporate notes and bonds, U.S. treasury securities, municipal securities, foreign government and supranational securities and asset-backed securities held at major financial institutions that the Company believes to be of high credit standing. The primary focus of its investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy limits the amount of credit exposure with any one financial institution or commercial issuer. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash and cash equivalents to the extent recorded in the balance sheets. While the Company has not experienced any losses in such accounts and the Company has historically maintained its cash in multiple financial institutions, the failure of Silicon Valley Bank (“SVB”) in March 2023, at which the Company held cash and cash equivalents in multiple accounts, exposed the Company to limited credit risk prior to the completion by the Federal Deposit Insurance Corporation (“FDIC”) of the resolution of SVB in a manner that fully protected all depositors. Concentrations of credit risk with respect to accounts receivable are primarily limited to certain customers to which the Company makes substantial sales. The Company’s customer base consists of a large number of geographically dispersed customers diversified across several industries. No customer accounted for more than 10% of revenue for both the three months ended March 31, 2024 and 2023. One customer accounted for more than 10% of the total accounts receivable balance as of both March 31, 2024 and December 31, 2023. Affiliated customers that are business units of a single company in the streaming entertainment space generated an aggregate of 12% and 10% of the Company’s revenue for the three months ended March 31, 2024 and 2023, respectively. The same affiliated customers accounted for an aggrega

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue by geography is based on the billing address of the customer. Aside from the United States, no other single country accounted for more than 10% of revenue for both the three months ended March 31, 2024 and March 31, 2023. The following table presents the Company’s net revenue by geographic region: Three months ended March 31, 2024 2023 (in thousands) United States $ 98,498 $ 85,364 Asia Pacific 19,098 16,431 Europe 11,246 10,515 All other 4,678 5,254 Total revenue $ 133,520 $ 117,564 The majority of the Company’s revenue is derived from enterprise customers, which are defined as customers with annualized current quarter revenue in excess of $100,000. This is calculated by taking the sum of revenue for each customer within the quarter and multiplying it by four. The following table presents the Company's net revenue for enterprise and non-enterprise customers: Three months ended March 31, 2024 2023 (in thousands) Enterprise customers $ 122,060 $ 107,373 Non-enterprise customers 11,460 10,191 Total revenue $ 133,520 $ 117,564 The Company reports its revenue by three product lines: Network Services, Security and Other. Network Services include solutions designed to improve performance of websites, apps, application programming interfaces (“APIs”) and digital media. Security includes products designed to protect websites, apps, APIs and users. Other includes Compute solutions that allow developers to build and deploy modern web applications on Fastly's edge cloud platform, and Observability solutions that provide real-time logs, data and metrics streamed from Fastly's edge platform for actionable insights. The following table presents the Company’s revenue by product line: Three months ended March 31, 2024 2023 (in thousands) Network Services $ 105,996 $ 94,307 Security 24,600 21,208 Other 2,924 2,049 Total revenue $ 133,520 $ 117,564 Contract balances The timing of revenue recognition may differ from the timing of invoicing to customers. The Company has an unconditional right to consideration when it invoices its customers and records a receivable. The Company records a contract asset, or unbilled receivable, when revenue is recognized prior to invoicing. The Company records a contract liability, or deferred revenue, when a contract is billed in advance of revenue being recognized. Deferred revenue pertains to amounts billed to customers for which revenue has not been recognized, which primarily consists of the unearned portions of billings for the Company’s security subscription services and the unearned portion of edge cloud platform usage. Amounts that have been invoiced for annual subscriptions, but not collected, are recorded in accounts receivable and in unearned revenue or in revenue depending on whether services have been delivered to the customer. The Company’s payment terms and conditions vary by contract type, and generally range from 30 to 90 days. The following table presents the Company’s contract assets and contract liabilities as of March 31, 2024 and as of December 31, 2023: As of March 31, 2024 As of December 31, 2023 (in thousands) Contract assets $ — $ 621 Contract liabilities $ 41,136 $ 38,150 The following table presents revenue recognized during the three months ended March 31, 2024 and 2023 from amounts included in the contract liability at the beginning of the period: Three months ended March 31, 2024 2023 (in thousands) Revenue recognized in the period from amounts included in contract liability at the beginning of the period $ 12,760 $ 12,221 Remaining performance obligations As of March 31, 2024, the aggregate amount of the transaction price in our contracts allocated to remaining performance obligations that are unsatisfied or partially unsatisfied was $227.0 million. This amount includes future committed revenue for periods within current contracts with customers, as well as deferred revenue arising from consideration invoiced for which the related performance obligations have not been satisfied. The Company has elected to not provide certain information about its remaining performance obligations for service contracts with an original contract duration of one year or less. As of March 31, 2024, the Company expects to recognize approximately 78% of its remaining performance obligations over the next 12 months. The Company’s typical contractual term with its customers is one year, although terms may vary by contract. Costs to obtain a contract As of March 31, 2024 and December 31, 2023, the Company's costs to obtain contracts were as follows: As of March 31, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 59,011 $ 61,981

Investments and Fair Value Meas

Investments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	Investments and Fair Value Measurements The Company's total cash, cash equivalents and marketable securities consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Cash and cash equivalents: Cash $ 19,621 $ 21,269 U.S. Treasury securities 1,800 52,830 Money market funds 124,417 21,166 Commercial paper 4,971 12,656 Total cash and cash equivalents (1) $ 150,809 $ 107,921 Marketable securities: U.S. Treasury securities $ 21,799 $ 73,448 Corporate notes and bonds 83,789 105,566 Commercial paper 63,111 25,934 Agency bonds 9,978 9,851 Total marketable securities, current (2) $ 178,677 $ 214,799 Corporate notes and bonds 1,743 5,999 Asset-backed securities — 89 Total marketable securities, non-current (3) $ 1,743 $ 6,088 Total marketable securities $ 180,420 $ 220,887 Total cash and cash equivalents and marketable securities $ 331,229 $ 328,808 (1) The Company’s cash equivalents include investments with an original maturity date of three months or less. (2) The Company classifies its marketable securities as current, where it intends to hold the securities for less than 12 months. (3) The Company classifies its marketable securities are non-current, where it intends to hold the securities for longer than 12 months. The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to cash equivalents and available-for-sale securities on the accompanying condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: As of March 31, 2024 Amortized Gross Gross Fair (in thousands) Cash equivalents: Money market funds $ 124,417 $ — $ — $ 124,417 U.S. Treasury securities 1,800 — — 1,800 Commercial paper 4,975 — (4) 4,971 Marketable securities: U.S. Treasury securities 21,806 — (7) 21,799 Corporate notes and bonds 85,880 30 (378) 85,532 Commercial paper 63,174 — (63) 63,111 Agency bonds 9,984 — (6) 9,978 Total $ 312,036 $ 30 $ (458) $ 311,608 As of December 31, 2023 Amortized Gross Gross Fair (in thousands) Cash equivalents: U.S. Treasury securities $ 52,824 $ 6 $ — $ 52,830 Commercial paper 12,663 — (7) 12,656 Marketable securities: U.S. Treasury securities 73,444 8 (4) 73,448 Corporate notes and bonds 112,487 9 (931) 111,565 Commercial paper 25,946 — (12) 25,934 Asset-backed securities 89 — — 89 Agency bonds 9,854 — (3) 9,851 Total $ 287,307 $ 23 $ (957) $ 286,373 There were no material realized gains or losses from sales of marketable securities that were reclassified out of accumulated other comprehensive loss into other income during the three months ended March 31, 2024 and 2023. Investments are reviewed periodically to identify possible other-than-temporary impairments. For the three months ended March 31, 2024 and 2023, the Company did not record any impairment charges for its marketable debt securities in its condensed consolidated statements of operations. No impairment loss has been recorded on the securities as the Company does not intend to sell any impaired securities, nor is it more likely than not that the Company would be required to sell impaired securities before recovery of amortized cost basis. Furthermore, the Company has determined that the decline in fair value of the investment is not due to credit related factors. Fair Value of Financial Instruments For certain of the Company's financial instruments, including cash held in banks, accounts receivable, and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables below. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3—Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation. The Company measures its cash equivalents, marketable securities, and restricted cash at fair value. The Company classifies its cash equivalents, marketable securities and restricted cash within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The Company classifies its investments, which are comprised of corporate notes and bonds, U.S. treasury securities, foreign government and supranational securities and asset-backed securities within Level 2 of the fair value hierarchy because the fair value of these securities is priced by using inputs based on non-binding market consensus prices that are primarily corroborated by observable market data or quoted market prices for similar instruments. Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments: As of March 31, 2024 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 124,417 $ — $ — $ 124,417 U.S. Treasury securities — 1,800 — 1,800 Commercial paper — 4,971 — 4,971 Total cash equivalents 124,417 6,771 — 131,188 Marketable securities: U.S. Treasury securities — 21,799 — 21,799 Corporate notes and bonds — 85,532 — 85,532 Commercial paper — 63,111 — 63,111 Agency bonds — 9,978 — 9,978 Total marketable securities — 180,420 — 180,420 Restricted cash: Restricted cash, current 150 — — 150 Total restricted cash 150 — — 150 Total financial assets $ 124,567 $ 187,191 $ — $ 311,758 As of December 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 21,166 $ — $ — $ 21,166 U.S. Treasury securities — 52,830 — 52,830 Commercial paper — 12,656 — 12,656 Total cash equivalents 21,166 65,486 — 86,652 Marketable securities: U.S. Treasury securities — 73,448 — 73,448 Corporate notes and bonds — 111,565 — 111,565 Commercial paper — 25,934 — 25,934 Asset-backed securities — 89 — 89 Agency bonds — 9,851 — 9,851 Total marketable securities — 220,887 — 220,887 Restricted cash: Restricted cash, current 150 — — 150 Total restricted cash 150 — — 150 Total financial assets $ 21,316 $ 286,373 $ — $ 307,689 Restricted cash was $0.2 million as of both March 31, 2024 and December 31, 2023. The restricted cash balance consisted of letters of credit related to lease arrangements that were collateralized by the Company’s cash. The amounts as of March 31, 2024 and December 31, 2023, were both classified as current on the Company’s balance sheets. There were no transfers of assets and liabilities measured at fair value between Level 1 and Level 2, or between Level 2 and Level 3, during the three months ended March 31, 2024 and 2023.

Balance Sheet Information

Balance Sheet Information	3 Months Ended
	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Information	Balance Sheet Information Property and Equipment, Net Property and equipment, net consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Computer and networking equipment $ 228,835 $ 224,313 Leasehold improvements 8,605 8,605 Furniture and fixtures 2,150 2,142 Office equipment 1,228 1,228 Internal-use software 100,839 97,623 Property and equipment, gross $ 341,657 $ 333,911 Accumulated depreciation and amortization (164,083) (157,303) Property and equipment, net $ 177,574 $ 176,608 Depreciation on property and equipment for the three months ended March 31, 2024 and 2023 was approximately $13.3 million and $12.0 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $3.9 million and $2.9 million for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024 and December 31, 2023, the unamortized balance of capitalized internal-use software costs on the Company’s condensed consolidated balance sheets was approximately $68.2 million and $62.6 million, respectively. The Company leases certain networking equipment from various third parties through equipment finance leases. The Company’s networking equipment assets as of March 31, 2024 and December 31, 2023, included a total of $74.6 million and $74.7 million acquired under finance lease agreements, respectively. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the associated networking equipment assets under finance leases totaled $43.5 million and $40.1 million as of March 31, 2024 and December 31, 2023, respectively. Other Assets Other assets consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 59,011 $ 61,981 Advance payment for purchase of property and equipment 20,485 24,509 Other assets 4,548 4,289 Total other assets $ 84,044 $ 90,779 Accrued Expenses Accrued expenses consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Accrued compensation and related benefits $ 13,046 $ 14,918 Accrued bonus 2,930 24,614 Accrued colocation and bandwidth costs 10,771 14,362 Other tax liabilities 4,071 4,344 Other accrued expenses 4,737 3,580 Total accrued expenses $ 35,555 $ 61,818 Other Current Liabilities Other current liabilities consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Deferred revenue $ 38,240 $ 33,824 Accrued computer and networking equipment 1,460 1,673 Holdback payable 3,771 3,771 Other current liabilities 1,162 1,271 Total other current liabilities $ 44,633 $ 40,539 Accumulated Other Comprehensive Loss For the three months ended March 31, 2024 and 2023, components of accumulated other comprehensive loss, net of taxes, were as follows (in thousands): Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2023 $ (12) $ (996) $ (1,008) Other comprehensive income — 487 487 Balance, March 31, 2024 $ (12) $ (509) $ (521) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2022 $ (577) $ (8,709) $ (9,286) Other comprehensive income 84 3,608 3,692 Balance, March 31, 2023 $ (493) $ (5,101) $ (5,594) There were no material reclassifications out of accumulated other comprehensive loss during the three months ended March 31, 2024 and 2023. Additionally, there was no material tax impact on the amounts presented.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices and data centers (“colocation” leases), and finance leases for networking equipment. The Company’s operating leases have remaining lease terms ranging from less than 1 year to 6 years, some of which include options to extend the leases. The Company’s finance leases have remaining lease terms up to 1 year. The Company also subleases a portion of its corporate office spaces. The Company’s subleases have remaining lease terms ranging from less than 1 year to 6 years. The Company’s sublease income was $0.4 million and $0.3 million for the three months ended March 31, 2024 and 2023, respectively. The components of lease cost were as follows: Three months ended March 31, 2024 2023 (in thousands) Operating lease costs: Operating lease cost $ 6,606 $ 7,201 Variable lease cost 4,247 3,576 Total operating lease costs $ 10,853 $ 10,777 Finance lease costs: Amortization of assets under finance lease $ 3,595 $ 3,623 Interest 162 439 Total finance lease costs $ 3,757 $ 4,062 The short-term lease costs were not material for either of the three months ended March 31, 2024 and 2023. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three months ended March 31, 2024 and 2023. As of March 31, 2024 As of December 31, 2023 Weighted Average Remaining Lease Term (in years): Operating leases 3.35 3.48 Finance leases 0.82 1.00 Weighted Average Discount Rate: Operating leases 6.24 % 6.03 % Finance leases 4.67 % 4.67 % Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 20,820 $ 11,029 2025 22,187 1,617 2026 19,969 — 2027 11,286 — 2028 2,996 — Thereafter 1,836 — Total future minimum lease payments $ 79,094 $ 12,646 Less: imputed interest (7,686) (232) Total liability $ 71,408 $ 12,414 As of March 31, 2024, the Company has undiscounted commitments of $2.0 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in the second quarter of 2024 with lease terms of 3 years.
Leases	Leases The Company has operating leases for corporate offices and data centers (“colocation” leases), and finance leases for networking equipment. The Company’s operating leases have remaining lease terms ranging from less than 1 year to 6 years, some of which include options to extend the leases. The Company’s finance leases have remaining lease terms up to 1 year. The Company also subleases a portion of its corporate office spaces. The Company’s subleases have remaining lease terms ranging from less than 1 year to 6 years. The Company’s sublease income was $0.4 million and $0.3 million for the three months ended March 31, 2024 and 2023, respectively. The components of lease cost were as follows: Three months ended March 31, 2024 2023 (in thousands) Operating lease costs: Operating lease cost $ 6,606 $ 7,201 Variable lease cost 4,247 3,576 Total operating lease costs $ 10,853 $ 10,777 Finance lease costs: Amortization of assets under finance lease $ 3,595 $ 3,623 Interest 162 439 Total finance lease costs $ 3,757 $ 4,062 The short-term lease costs were not material for either of the three months ended March 31, 2024 and 2023. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three months ended March 31, 2024 and 2023. As of March 31, 2024 As of December 31, 2023 Weighted Average Remaining Lease Term (in years): Operating leases 3.35 3.48 Finance leases 0.82 1.00 Weighted Average Discount Rate: Operating leases 6.24 % 6.03 % Finance leases 4.67 % 4.67 % Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 20,820 $ 11,029 2025 22,187 1,617 2026 19,969 — 2027 11,286 — 2028 2,996 — Thereafter 1,836 — Total future minimum lease payments $ 79,094 $ 12,646 Less: imputed interest (7,686) (232) Total liability $ 71,408 $ 12,414 As of March 31, 2024, the Company has undiscounted commitments of $2.0 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use asset or operating lease liability. These operating leases will commence in the second quarter of 2024 with lease terms of 3 years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill As of each of March 31, 2024 and December 31, 2023, the Company’s goodwill was $670.4 million. The Company did not record an impairment charge on goodwill during each of the three months ended March 31, 2024 and 2023. As of March 31, 2024 and December 31, 2023, the Company’s intangible assets consisted of the following: As of March 31, 2024 As of December 31, 2023 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value (in thousands) Intangible assets: Customer relationships $ 69,860 $ (30,696) $ 39,164 $ 69,860 $ (28,473) $ 41,387 Developed technology 50,130 (34,939) 15,191 50,130 (32,424) 17,706 Trade names 3,910 (3,580) 330 3,910 (3,542) 368 Internet protocol addresses 4,984 (2,093) 2,891 4,984 (1,970) 3,014 Total intangible assets $ 128,884 $ (71,308) $ 57,576 $ 128,884 $ (66,409) $ 62,475 The Company’s customer relationships, developed technology, trade names and internet protocol addresses represent intangible assets subject to amortization. Amortization expense was $4.9 million and $5.2 million for the three months ended March 31, 2024 and 2023, respectively. The Company did not purchase any intangible assets during both the three months ended March 31, 2024 and 2023. The Company did not record any impairment charges on its intangible assets during both the three months ended March 31, 2024 and 2023. The expected amortization expense of intangible assets subject to amortization as of March 31, 2024 is as follows: As of March 31, 2024 (in thousands) Remainder of 2024 $ 14,699 2025 16,976 2026 9,193 2027 9,051 2028 6,892 Thereafter 765 Total $ 57,576

Debt Instruments

Debt Instruments	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt Instruments	Debt Instruments Senior Secured Credit Facilities Agreement On February 16, 2021, the Company entered into a Senior Secured Credit Facilities Agreement (“Credit Agreement”) with the lenders from time to time party thereto (the “Lenders”) and Silicon Valley Bank, as a lender and as administrative agent and collateral agent for the Lenders, for an aggregate commitment amount of $100.0 million with a maturity date of February 16, 2024. The Company recorded $0.6 million of debt issuance costs associated with the Credit Agreement in other assets on the Company’s condensed consolidated balance sheet. The Credit Agreement originally bore interest at a rate per annum equal to the sum of LIBOR for the applicable interest period plus 1.75% to 2.00%, depending on the average daily outstanding balance of all loans and letters of credit under the Credit Agreement. On June 28, 2023, the Company entered into the First Amendment to Credit Agreement with the Lenders and First-Citizens Bank & Trust Company (successor by purchase to the Federal Deposit Insurance Corporation as Receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank)), as a lender and as administrative agent and collateral agent for the Lenders, which, among other things, amended the interest rate provisions of the Credit Agreement to replace LIBOR with the Secured Overnight Finance Rate (“SOFR”) as the interest rate benchmark. On February 16, 2024, the Company entered into the Second Amendment to Credit Agreement with the Lenders and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as a lender and as administrative agent and collateral agent for the Lenders, which, among other things, extended the maturity date of the loans under the Credit Agreement to June 14, 2024. On April 30, 2024, the Company entered into the Third Amendment to Credit Agreement with the Lenders and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as a lender and as administrative agent and collateral agent for the Lenders, which, among other things, extended the maturity date of the loans under the Credit Agreement to April 30, 2027 and decreased the commitment amount from $100.0 million to $60.0 million, including a $10.0 million sublimit for the issuance of letters of credit, and a swingline subfacility of up to $20.0 million. As amended, the revolving loans bear interest, at the Company’s election, at an annual rate based on SOFR or a base rate. Loans based on SOFR bear interest at a rate per annum equal to SOFR, plus an adjustment of 0.10%, plus 1.75% to 2.00%, depending on the average daily outstanding balance of all loans and letters of credit under the Credit Agreement. Loans based on the base rate bear interest at a rate per annum equal to the base rate plus 0.75% to 1.00%, depending on the average daily outstanding balance of all loans and letters of credit under the Credit Agreement. Interest payments on outstanding borrowings are due on the last day of each interest period. The Credit Agreement has a commitment fee on the unused portion of the borrowing commitment, which is payable on the last day of each calendar quarter at a rate per annum of 0.20% to 0.25% depending on the average daily outstanding balance of all loans and letters of credit under the Credit Agreement. In addition, the Company’s Credit Agreement contains a financial covenant that requires the Company to maintain a consolidated adjusted quick ratio of at least 1:25 to 1:00 tested on a quarterly basis as well as a springing revenue growth covenant for certain periods if the Company’s consolidated adjusted quick ratio falls below 1.75 to 1:00 on the last day of any fiscal quarter. The Credit Agreement requires the Company to comply with various affirmative and negative covenants, and contains customary events of default. As of March 31, 2024, the Company was in compliance with all of the Credit Agreement’s covenants. During the three months ended March 31, 2024 and 2023, no amounts were drawn down on the Credit Agreement. As of March 31, 2024 and December 31, 2023, no amounts were outstanding under the Credit Agreement. Convertible Senior Notes On March 5, 2021, the Company issued approximately $948.8 million aggregate principal amount of 0% convertible senior notes due 2026 (the “Notes”), including the exercise in full by the initial purchasers of their option to purchase up to an additional approximately $123.8 million principal amount of the Notes. The Notes were issued in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The Notes will mature on March 15, 2026, unless earlier converted, redeemed or repurchased. The net proceeds from the issuance of the Notes were approximately $930.0 million after deducting the initial purchasers’ discounts and transaction costs. The Company may not redeem the Notes prior to March 20, 2024. On or after March 20, 2024, the Company may redeem for cash, all or any portion of the Notes, at the Company’s option, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of the Company’s Class A common stock (“common stock”) has been at least 130% of the conversion price for the Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. No sinking fund is provided for the Notes. Holders of the Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding December 15, 2025, only under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the Notes on each applicable trading day; (ii) during the five business day period after any ten consecutive trading day period (the “Measurement Period”) in which the trading price, as defined in the indenture agreement governing the Note filed with the Company’s Current Report on Form 8-K filed with the SEC on March 5, 2021, per $1,000 principal amount of notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; (iii) if the Company calls such Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the applicable redemption date, but only with respect to the Notes called (or deemed called) for redemption; or (iv) upon the occurrence of specified corporate events. On or after December 15, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election. The initial conversion rate is 9.7272 shares of common stock per $1,000 principal amount of Notes, equivalent to an initial conversion price of approximately $102.80 per share of common stock. The conversion rate is subject to adjustment as described in the indenture governing the Notes but will not be adjusted for any accrued and unpaid special interest. In addition, following certain corporate events that occur prior to the maturity date of the Notes or if the Company delivers a notice of redemption in respect of the Notes, the Company will, in certain circumstances, increase the conversion rate of the Notes for a holder who elects to convert its Notes, in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related redemption period, as the case may be. The indenture includes customary covenants and sets forth certain events of default after which the Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default involving the Company after which the Notes become automatically due and payable. If the Company undergoes a fundamental change, as defined in the indenture agreement governing the Notes, then subject to certain conditions and except as described in the indenture governing the Notes, holders may require the Company to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the fundamental change repurchase date. The Company evaluated the terms of its debt and concluded that the instrument does not require separation and that there were no other derivatives that required separation. As such, the Company has combined these features with the host contract and the Company accounts for its convertible debt as a single liability in long-term debt on its condensed consolidated balance sheet. The initial purchasers' discounts and transaction costs of $18.6 million incurred related to the issuance of the Notes were classified as liability and represents the difference between the principal amount of the Notes and the liability component (the “debt discount”), which is amortized to interest expense using the effective interest method over the term of the Notes. As of March 31, 2024, the conversion conditions had not been met and therefore the Notes were not yet convertible. On May 25, 2022, the Company entered into separate, privately negotiated transactions with certain holders of the Notes to repurchase (the “Repurchases”) $235.0 million aggregate principal amount of the Notes for an aggregate cash repurchase price of $176.4 million and aggregate transaction costs of $0.7 million. During the year ended December 31, 2023, the Company entered into several separate privately negotiated transactions with certain holders of the Notes to repurchase $367.3 million aggregate principal amount of the Notes for an aggregate cash repurchase price of $309.1 million and aggregate transaction costs of $2.0 million. The following table reflects the carrying values of the debt agreements as of March 31, 2024 and December 31, 2023: As of March 31, 2024 As of December 31, 2023 (in thousands) (in thousands) Convertible Senior notes (effective interest rate of 0.38%) Principal amount $ 346,489 $ 346,489 Less: unamortized debt issuance costs (2,652) (2,982) Less: current portion of long-term debt — — Long-term debt, less current portion $ 343,837 $ 343,507 For the three months ended March 31, 2024 and 2023, interest expense related to the Company’s debt obligations was $0.4 million and $0.8 million, respectively. As of March 31, 2024 and December 31, 2023, the total estimated fair value of the Notes was $314.4 million and $301.4 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments As of March 31, 2024, the Company had long-term commitments for cost of revenue related agreements (i.e., bandwidth usage, peering and other managed services with various networks, fixed asset vendors, Internet service providers and other third-party vendors). The Company also has non-cost of revenue long-term commitments for various non-cancelable agreements. Aside from the Company’s finance and operating lease commitments, including its colocation operating commitments, which have been disclosed in Note 6—Leases, the minimum future commitments related to the Company's purchase commitments as of March 31, 2024 were as follows: Cost of Revenue Commitments Operating Expense Commitments Total Purchase Commitments (in thousands) Remainder of 2024 $ 37,203 $ 5,131 $ 42,334 2025 7,418 4,799 12,217 2026 8,122 3,069 11,191 2027 111 — 111 2028 40 — 40 Thereafter — — — Total $ 52,894 $ 12,999 $ 65,893 Sales and Use Tax The Company conducts its operations in many tax jurisdictions throughout the United States. In some of these jurisdictions the Company is subject to indirect taxes, such as sales and use taxes, and may be subject to certain other taxes. In accordance with GAAP, the Company has recorded a provision for its tax exposure in these jurisdictions when it is both probable that a liability has been incurred and the amount of the exposure can be reasonably estimated. The Company has accrued $4.1 million and $4.3 million as of March 31, 2024 and December 31, 2023, respectively, for sales and use tax. These estimates are based on several key assumptions, including the taxability of the Company’s operations and the jurisdictions in which the Company believes it has nexus. In the event these jurisdictions challenge the Company’s assumptions and analysis, its actual exposure could differ materially from its current estimates. Legal Matters From time to time, the Company has been and may be subject to legal proceedings and claims. Such matters are subject to many uncertainties and outcomes are not predictable with assurance. The Company accrues for contingencies when it believes that a loss is probable and that the Company can reasonably estimate the amount of any such loss. The Company is not presently a party to any legal proceedings that, if determined adversely to it, would individually or taken together have a material effect on the Company’s business, results of operations, financial condition, or cash flows. As of March 31, 2024, the Company has not recorded any significant accruals for loss contingencies associated with such legal proceedings, determined that an unfavorable outcome is probable or reasonably possible, or determined that the amount or range of any possible loss is reasonably estimable. Indemnification The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company agrees to indemnify, hold harmless, and reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the Company’s business partners or customers, in connection with its provision of its services. Generally, these obligations are limited to claims relating to infringement of a patent, copyright, or other intellectual property right, breach of the Company’s security or data protection obligations, or its negligence, willful misconduct, or violation of law. Subject to applicable statutes of limitation, the term of these indemnification agreements is generally for the duration of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company carries insurance that covers certain third-party claims relating to the Company’s services and could limit its exposure in that respect. The Company has agreed to indemnify each of its officers and directors during his or her lifetime for certain events or occurrences that happen by reason of the fact that the officer or director is, was, or has agreed to serve as an officer or director of the Company. The Company has director and officer insurance policies that may limit its exposure and may enable it to recover a portion of certain future amounts paid. To date, the Company has not encountered material costs as a result of such indemnification obligations and has not accrued any related liabilities in its financial statements. In assessing whether to establish an accrual, the Company considers such factors as the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of loss.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Equity Incentive Plans The Company maintains four equity incentive plans: the 2019 Equity Incentive Plan (the “2019 Plan”), 2011 Equity Incentive Plan (“2011 Plan”), Employee Stock Purchase Plan and the Signal Sciences Corp. 2014 Stock Option and Grant Plan, as amended (the “Signal Plan”). The 2019 Plan became effective in May 2019 and replaced the 2011 Plan. The Company’s 2019 Plan provides for the issuance of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock units (“RSUs”), restricted stock awards, performance-based stock awards (“PSUs”), and other forms of equity compensation, which are collectively referred to as stock awards to its employees, directors, and consultants. The Signal Plan includes 251,754 registered shares which can be exercised to purchase shares of Fastly’s common stock. As of March 31, 2024 and December 31, 2023, there were 12.0 million and 8.9 million shares of common stock available for issuance under the 2019 Plan, respectively. As of March 31, 2024 and December 31, 2023, 136.5 million and 133.0 million shares of common stock were issued and outstanding, respectively. Stock Options Options granted under the 2011 Plan and 2019 Plan are exercisable for common stock and generally expire within 10 years from the date of grant and generally vest over four years, at the rate of 25% on the first anniversary of the date of grant and ratably on a monthly basis over the remaining 36-month period thereafter based on continued service. Forfeitures are recognized as they occur. The following table summarizes stock option activity during the three months ended March 31, 2024: Shares Weighted- Weighted- Aggregate (in thousands) (in years) (in thousands) Outstanding at December 31, 2023 2,710 8.14 5.1 $ 26,383 Granted — — Exercised (71) 1.58 Cancelled/forfeited — — Outstanding at March 31, 2024 2,639 8.32 4.9 $ 15,255 Vested and exercisable at March 31, 2024 2,110 6.28 3.7 $ 15,255 During the three months ended March 31, 2024 and 2023, the Company recorded stock-based compensation expense from stock options of approximately $0.6 million and $0.7 million, respectively. Restricted Stock Units (“RSUs”) The Company began granting RSUs under the 2019 Plan during the fiscal year ended December 31, 2019. The fair value of RSUs is based on the grant date fair value and is expensed on a straight-line basis over the applicable vesting period. RSUs granted to new hires typically vest over three three The following table summarizes RSU activity during the three months ended March 31, 2024: Number of Shares Weighted-Average (in thousands) Unvested RSUs as of December 31, 2023 11,244 $ 17.46 Granted 3,320 13.96 Vested (3,258) 16.34 Cancelled/forfeited (230) 21.95 Unvested RSUs as of March 31, 2024 11,076 $ 16.65 During the three months ended March 31, 2024 and 2023, the Company recognized stock-based compensation expense related to RSUs of $24.5 million and $23.6 million, respectively. Performance-Based Restricted Stock Units ("PSUs") Performance stock awards for executive officers (“Executive PSUs”) In March and May 2023, pursuant to the Company’s 2019 Equity Incentive Plan, the Company granted certain employees shares of PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company’s operating plan for the fiscal year 2023. The Company has accounted for these awards as equity-based awards and will recognize stock-based compensation expense over the employees' requisite service period based on the expected attainment of the Company-wide targets as of the end of each reporting period. In February 2024, pursuant to the Company’s 2019 Equity Incentive Plan, the Company granted certain employees shares of PSUs, which are to vest based on the level of achievement of certain Company-wide targets related to the Company’s operating plan for the fiscal year 2024. The Company has accounted for these awards as equity-based awards and will recognize stock-based compensation expense over the employees' requisite service period based on the expected attainment of the Company-wide targets as of the end of each reporting period. Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Nonvested PSUs as of December 31, 2023 732 $ 16.49 Granted 909 12.60 Vested (162) 16.14 Cancelled/forfeited (263) 16.05 Nonvested PSUs as of March 31, 2024 1,216 $ 13.72 For the three months ended March 31, 2024 and 2023, the Company recognized $1.2 million and $0.3 million of stock-based compensation expense associated with these awards, respectively. Company-wide Bonus Program (“Bonus Program”) In March 2023, the Compensation Committee approved a company-wide bonus program, including performance targets, to most of the Company’s employees on active payroll in fiscal year 2023 ( “ 2023 Bonus Program ” ). Shares awarded under the program were paid out in February 2024 in fully vested RSUs and based on the final attainment of Company-wide performance targets which were tied to its operating plan for fiscal year 2023. The Company recognized stock-based compensation expense over the employees requisite service period, based on the final attainment of the Company-wide targets. In February 2024, the Company paid out 1.9 million of restricted stock units associated with the 2023 Bonus Program, and correspondingly recorded a charge to additional paid-in-capital of $26.8 million. In February 2024, the Compensation Committee approved a company-wide bonus program, including performance targets, for the current fiscal year to most of the Company’s employees on active payroll in fiscal year 2024 ("2024 Bonus Program"). Shares awarded under the program will be in fully vested RSUs and will be based on the final attainment of Company-wide performance targets which are tied to its operating plan for fiscal year 2024. The payout of the 2024 Company-wide bonus program will vary linearly between 50%, 100% and 150% based on the achievement of these targets. Employees are required to be employed through the payout date to earn the awards. The Company has accounted for these awards as liability-based awards, since the monetary value of the obligation associated with the award is based predominantly on a fixed monetary amount known at inception, and it has an unconditional obligation that it must or may settle by issuing a variable number of its equity shares. The Company is recognizing the stock-based compensation expense over the employees requisite service period, based on the expected attainment of the Company-wide targets as of the end of each reporting period. During the three months ended March 31, 2024 and 2023, the Company recognized $6.5 million and $2.0 million, respectively, of stock-based compensation expense associated with the Bonus Programs, respectively. Market-Based Performance Stock Awards (“MPSUs”) In September 2022 and January 2023, pursuant to the Company’s 2019 Equity Incentive Plan, the Company granted certain employees shares of MPSUs, which are to vest upon the satisfaction of the Company’s achievement of specified Fastly common stock price targets during the applicable performance period. In addition, the awards are subject to each recipient’s continuous service through each applicable vest dates. Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Nonvested MPSUs as of December 31, 2023 1,471 $ 6.46 Granted — — Vested — — Cancelled/forfeited (158) 6.69 Nonvested MPSUs as of March 31, 2024 1,313 $ 6.45 Stock-based compensation expense relating to the MPSUs are recognized using the accelerated attribution method over the derived service period. During the three months ended March 31, 2024 and 2023, the Company recognized $0.7 million and $1.6 million stock-based compensation expense associated with these awards, respectively. Employee Stock Purchase Program (“ESPP”) The ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions of up to 15% of their eligible compensation. The ESPP provides for six-month offering periods, commencing in May and November of each year. At the end of each offering period employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the date of purchase. During the three months ended March 31, 2024 and 2023 the Company recognized $1.2 million and $1.3 million in stock-based compensation expense related to the ESPP, respectively. No common stock was issued under the ESPP in the three months ended March 31, 2024, nor in the three months ended March 31, 2023. Stock-Based Compensation Expense The following table summarizes the components of total stock-based compensation expense included in the accompanying condensed consolidated statements of operations: Three months ended March 31, 2024 2023 (in thousands) Cost of revenue $ 2,779 $ 2,681 Research and development 10,323 11,481 Sales and marketing 7,843 6,705 General and administrative 10,876 7,284 Total stock-based compensation expense $ 31,821 $ 28,151 For the three months ended March 31, 2024 and 2023, the Company capitalized $2.9 million and $1.3 million of stock-based compensation expense to internal-use software, respectively. For the three months ended March 31, 2024 and 2023, the Company recognized $6.5 million and $2.0 million of stock-based compensation expense associated with liability classified awards related to the company-wide Bonus Program, respectively.

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders Basic net loss per share is computed by dividing net loss by basic weighted-average shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by diluted weighted-average shares outstanding, including potentially dilutive securities. The following table presents the computation of basic and diluted net loss per share of common stock: Three months ended March 31, 2024 2023 (in thousands, except per share amounts) Net loss attributable to common stockholders $ (43,427) $ (44,687) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 134,587 125,418 Net loss per share attributable to common stockholders, basic and diluted $ (0.32) $ (0.36) The following securities were excluded from the computation of diluted net loss per share of common stock for the periods presented as their effect would have been antidilutive: Number of Shares As of March 31, 2024 2023 (in thousands) Stock options 2,639 2,362 RSUs 11,076 11,799 PSUs 1,216 822 MPSUs 1,313 2,161 Shares issuable pursuant to the ESPP 550 581 Convertible senior notes (if-converted) 3,370 7,338 Total 20,164 25,063 The dilution table above excludes RSUs to be awarded under the Company’s 2024 Bonus Program, which is expected to have an impact on its outstanding awards in the first quarter of 2025. Refer to Note 10 — Stockholders' Equity for further details on the Company’s 2024 Bonus Program.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company continues to maintain a full valuation allowance on the Company’s U.S. Federal and state net deferred tax assets. The tax expense for the three months ended March 31, 2024 and 2023 was primarily due to foreign tax expense.

Information About Revenue and G

Information About Revenue and Geographic Areas	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Information About Revenue and Geographic Areas	Information About Revenue and Geographic Areas Revenue Revenue by geography is based on the billing address of the customer. Refer to Note 3—Revenue for more information on net revenue by geographic area. Long-Lived Assets The Company’s property and equipment and operating lease right-of-use assets, each net, by geographic area were as follows: As of March 31, 2024 As of December 31, 2023 (in thousands) United States $ 166,770 $ 166,413 All other countries 65,224 65,407 Total long-lived assets $ 231,994 $ 231,820

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn April 30, 2024, the Company entered into the Third Amendment to Credit Agreement with the Lenders and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, as a lender and as administrative agent and collateral agent for the Lenders, which, among other things, extended the maturity date of the loans under the Credit Agreement to April 30, 2027 and decreased the commitment amount from $100.0 million to $60.0 million, including a $10.0 million sublimit for the issuance of letters of credit, and a swingline subfacility of up to $20.0 million.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (43,427)	$ (44,687)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying condensed consolidated financial statements and footnotes have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), consistent in all material respects with those applied in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on February 21, 2024. The Company’s condensed consolidated financial statements include its accounts and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company’s condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of its quarterly results. The Company’s condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses, and related disclosures. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates, judgments, and assumptions used in these financial statements include, but are not limited to, those related to revenue, accounts receivable and related reserves, internal-use software development costs, the incremental borrowing rate related to the Company’s lease liabilities, fair value of assets acquired and liabilities assumed during business combinations, useful lives of acquired intangible assets and property and equipment, fair value of the Company’s long-lived assets as well as goodwill, income tax reserves, and accounting for stock-based compensation. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. The effects of material revisions in estimates are reflected in the consolidated financial statements in the period of change and prospectively from the date of the change in estimate.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted and Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07 “Segment Reporting - Improvements to Reportable Segment Disclosures,” which updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. The guidance is effective for the Company's annual periods beginning in 2024 and interim periods beginning in the first quarter of fiscal year 2025. The Company is currently evaluating the impact of the new guidance. In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which expands disclosures in an entity’s income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The guidance is effective for the Company's annual periods beginning in 2025. The Company
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and accounts receivable. The Company’s cash, cash equivalents, and marketable securities primarily consisted of bank deposits, money market funds, investment-grade commercial paper, corporate notes and bonds, U.S. treasury securities, municipal securities, foreign government and supranational securities and asset-backed securities held at major financial institutions that the Company believes to be of high credit standing. The primary focus of its investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy limits the amount of credit exposure with any one financial institution or commercial issuer. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash and cash equivalents to the extent recorded in the balance sheets. While the Company has not experienced any losses in such accounts and the Company has historically maintained its cash in multiple financial institutions, the failure of Silicon Valley Bank (“SVB”) in March 2023, at which the Company held cash and cash equivalents in multiple accounts, exposed the Company to limited credit risk prior to the completion by the Federal Deposit Insurance Corporation (“FDIC”) of the resolution of SVB in a manner that fully protected all depositors.
Revenue	Revenue by geography is based on the billing address of the customer.
Fair Value of Financial Instruments	Fair Value of Financial Instruments For certain of the Company's financial instruments, including cash held in banks, accounts receivable, and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables below. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1—Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and Level 3—Unobservable inputs that are supported by little or no market activity, which require management judgment or estimation. The Company measures its cash equivalents, marketable securities, and restricted cash at fair value. The Company classifies its cash equivalents, marketable securities and restricted cash within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Net Revenue by Geographic Region	The following table presents the Company’s net revenue by geographic region: Three months ended March 31, 2024 2023 (in thousands) United States $ 98,498 $ 85,364 Asia Pacific 19,098 16,431 Europe 11,246 10,515 All other 4,678 5,254 Total revenue $ 133,520 $ 117,564
Schedule of Revenue by Customer Type	The following table presents the Company's net revenue for enterprise and non-enterprise customers: Three months ended March 31, 2024 2023 (in thousands) Enterprise customers $ 122,060 $ 107,373 Non-enterprise customers 11,460 10,191 Total revenue $ 133,520 $ 117,564
Schedule of Revenue by Product Line	The following table presents the Company’s revenue by product line: Three months ended March 31, 2024 2023 (in thousands) Network Services $ 105,996 $ 94,307 Security 24,600 21,208 Other 2,924 2,049 Total revenue $ 133,520 $ 117,564
Schedule of Contract Assets and Contract Liabilities	The following table presents the Company’s contract assets and contract liabilities as of March 31, 2024 and as of December 31, 2023: As of March 31, 2024 As of December 31, 2023 (in thousands) Contract assets $ — $ 621 Contract liabilities $ 41,136 $ 38,150 The following table presents revenue recognized during the three months ended March 31, 2024 and 2023 from amounts included in the contract liability at the beginning of the period: Three months ended March 31, 2024 2023 (in thousands) Revenue recognized in the period from amounts included in contract liability at the beginning of the period $ 12,760 $ 12,221
Schedule of Costs to Obtain Contracts	As of March 31, 2024 and December 31, 2023, the Company's costs to obtain contracts were as follows: As of March 31, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 59,011 $ 61,981

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Cash, Cash Equivalents, and Marketable Securities	The Company's total cash, cash equivalents and marketable securities consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Cash and cash equivalents: Cash $ 19,621 $ 21,269 U.S. Treasury securities 1,800 52,830 Money market funds 124,417 21,166 Commercial paper 4,971 12,656 Total cash and cash equivalents (1) $ 150,809 $ 107,921 Marketable securities: U.S. Treasury securities $ 21,799 $ 73,448 Corporate notes and bonds 83,789 105,566 Commercial paper 63,111 25,934 Agency bonds 9,978 9,851 Total marketable securities, current (2) $ 178,677 $ 214,799 Corporate notes and bonds 1,743 5,999 Asset-backed securities — 89 Total marketable securities, non-current (3) $ 1,743 $ 6,088 Total marketable securities $ 180,420 $ 220,887 Total cash and cash equivalents and marketable securities $ 331,229 $ 328,808 (1) The Company’s cash equivalents include investments with an original maturity date of three months or less. (2) The Company classifies its marketable securities as current, where it intends to hold the securities for less than 12 months. (3) The Company classifies its marketable securities are non-current, where it intends to hold the securities for longer than 12 months.
Schedule of Available-For-Sale Investments	The following table summarizes adjusted cost, gross unrealized gains and losses, and fair value related to cash equivalents and available-for-sale securities on the accompanying condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023: As of March 31, 2024 Amortized Gross Gross Fair (in thousands) Cash equivalents: Money market funds $ 124,417 $ — $ — $ 124,417 U.S. Treasury securities 1,800 — — 1,800 Commercial paper 4,975 — (4) 4,971 Marketable securities: U.S. Treasury securities 21,806 — (7) 21,799 Corporate notes and bonds 85,880 30 (378) 85,532 Commercial paper 63,174 — (63) 63,111 Agency bonds 9,984 — (6) 9,978 Total $ 312,036 $ 30 $ (458) $ 311,608 As of December 31, 2023 Amortized Gross Gross Fair (in thousands) Cash equivalents: U.S. Treasury securities $ 52,824 $ 6 $ — $ 52,830 Commercial paper 12,663 — (7) 12,656 Marketable securities: U.S. Treasury securities 73,444 8 (4) 73,448 Corporate notes and bonds 112,487 9 (931) 111,565 Commercial paper 25,946 — (12) 25,934 Asset-backed securities 89 — — 89 Agency bonds 9,854 — (3) 9,851 Total $ 287,307 $ 23 $ (957) $ 286,373
Schedule of Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis	Financial assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following types of instruments: As of March 31, 2024 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 124,417 $ — $ — $ 124,417 U.S. Treasury securities — 1,800 — 1,800 Commercial paper — 4,971 — 4,971 Total cash equivalents 124,417 6,771 — 131,188 Marketable securities: U.S. Treasury securities — 21,799 — 21,799 Corporate notes and bonds — 85,532 — 85,532 Commercial paper — 63,111 — 63,111 Agency bonds — 9,978 — 9,978 Total marketable securities — 180,420 — 180,420 Restricted cash: Restricted cash, current 150 — — 150 Total restricted cash 150 — — 150 Total financial assets $ 124,567 $ 187,191 $ — $ 311,758 As of December 31, 2023 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 21,166 $ — $ — $ 21,166 U.S. Treasury securities — 52,830 — 52,830 Commercial paper — 12,656 — 12,656 Total cash equivalents 21,166 65,486 — 86,652 Marketable securities: U.S. Treasury securities — 73,448 — 73,448 Corporate notes and bonds — 111,565 — 111,565 Commercial paper — 25,934 — 25,934 Asset-backed securities — 89 — 89 Agency bonds — 9,851 — 9,851 Total marketable securities — 220,887 — 220,887 Restricted cash: Restricted cash, current 150 — — 150 Total restricted cash 150 — — 150 Total financial assets $ 21,316 $ 286,373 $ — $ 307,689

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Computer and networking equipment $ 228,835 $ 224,313 Leasehold improvements 8,605 8,605 Furniture and fixtures 2,150 2,142 Office equipment 1,228 1,228 Internal-use software 100,839 97,623 Property and equipment, gross $ 341,657 $ 333,911 Accumulated depreciation and amortization (164,083) (157,303) Property and equipment, net $ 177,574 $ 176,608
Schedule of Other Assets	Other assets consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 59,011 $ 61,981 Advance payment for purchase of property and equipment 20,485 24,509 Other assets 4,548 4,289 Total other assets $ 84,044 $ 90,779
Schedule of Accrued Expenses	Accrued expenses consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Accrued compensation and related benefits $ 13,046 $ 14,918 Accrued bonus 2,930 24,614 Accrued colocation and bandwidth costs 10,771 14,362 Other tax liabilities 4,071 4,344 Other accrued expenses 4,737 3,580 Total accrued expenses $ 35,555 $ 61,818
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: As of March 31, 2024 As of December 31, 2023 (in thousands) Deferred revenue $ 38,240 $ 33,824 Accrued computer and networking equipment 1,460 1,673 Holdback payable 3,771 3,771 Other current liabilities 1,162 1,271 Total other current liabilities $ 44,633 $ 40,539
Schedule of Accumulated Other Comprehensive Loss	For the three months ended March 31, 2024 and 2023, components of accumulated other comprehensive loss, net of taxes, were as follows (in thousands): Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2023 $ (12) $ (996) $ (1,008) Other comprehensive income — 487 487 Balance, March 31, 2024 $ (12) $ (509) $ (521) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2022 $ (577) $ (8,709) $ (9,286) Other comprehensive income 84 3,608 3,692 Balance, March 31, 2023 $ (493) $ (5,101) $ (5,594)

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Lease Costs & Other Information	The components of lease cost were as follows: Three months ended March 31, 2024 2023 (in thousands) Operating lease costs: Operating lease cost $ 6,606 $ 7,201 Variable lease cost 4,247 3,576 Total operating lease costs $ 10,853 $ 10,777 Finance lease costs: Amortization of assets under finance lease $ 3,595 $ 3,623 Interest 162 439 Total finance lease costs $ 3,757 $ 4,062 As of March 31, 2024 As of December 31, 2023 Weighted Average Remaining Lease Term (in years): Operating leases 3.35 3.48 Finance leases 0.82 1.00 Weighted Average Discount Rate: Operating leases 6.24 % 6.03 % Finance leases 4.67 % 4.67 %
Schedule of Operating Lease Maturity	Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 20,820 $ 11,029 2025 22,187 1,617 2026 19,969 — 2027 11,286 — 2028 2,996 — Thereafter 1,836 — Total future minimum lease payments $ 79,094 $ 12,646 Less: imputed interest (7,686) (232) Total liability $ 71,408 $ 12,414
Schedule of Finance Lease Maturity	Future minimum lease payments under non-cancellable leases as of March 31, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 20,820 $ 11,029 2025 22,187 1,617 2026 19,969 — 2027 11,286 — 2028 2,996 — Thereafter 1,836 — Total future minimum lease payments $ 79,094 $ 12,646 Less: imputed interest (7,686) (232) Total liability $ 71,408 $ 12,414

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	As of March 31, 2024 and December 31, 2023, the Company’s intangible assets consisted of the following: As of March 31, 2024 As of December 31, 2023 Gross carrying value Accumulated amortization Net carrying value Gross carrying value Accumulated amortization Net carrying value (in thousands) Intangible assets: Customer relationships $ 69,860 $ (30,696) $ 39,164 $ 69,860 $ (28,473) $ 41,387 Developed technology 50,130 (34,939) 15,191 50,130 (32,424) 17,706 Trade names 3,910 (3,580) 330 3,910 (3,542) 368 Internet protocol addresses 4,984 (2,093) 2,891 4,984 (1,970) 3,014 Total intangible assets $ 128,884 $ (71,308) $ 57,576 $ 128,884 $ (66,409) $ 62,475
Schedule of Expected Amortization Expense of Intangible Assets	The expected amortization expense of intangible assets subject to amortization as of March 31, 2024 is as follows: As of March 31, 2024 (in thousands) Remainder of 2024 $ 14,699 2025 16,976 2026 9,193 2027 9,051 2028 6,892 Thereafter 765 Total $ 57,576

Debt Instruments (Tables)

Debt Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Carrying Values of Debt Agreements	The following table reflects the carrying values of the debt agreements as of March 31, 2024 and December 31, 2023: As of March 31, 2024 As of December 31, 2023 (in thousands) (in thousands) Convertible Senior notes (effective interest rate of 0.38%) Principal amount $ 346,489 $ 346,489 Less: unamortized debt issuance costs (2,652) (2,982) Less: current portion of long-term debt — — Long-term debt, less current portion $ 343,837 $ 343,507

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Purchase Commitments	Aside from the Company’s finance and operating lease commitments, including its colocation operating commitments, which have been disclosed in Note 6—Leases, the minimum future commitments related to the Company's purchase commitments as of March 31, 2024 were as follows: Cost of Revenue Commitments Operating Expense Commitments Total Purchase Commitments (in thousands) Remainder of 2024 $ 37,203 $ 5,131 $ 42,334 2025 7,418 4,799 12,217 2026 8,122 3,069 11,191 2027 111 — 111 2028 40 — 40 Thereafter — — — Total $ 52,894 $ 12,999 $ 65,893

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity during the three months ended March 31, 2024: Shares Weighted- Weighted- Aggregate (in thousands) (in years) (in thousands) Outstanding at December 31, 2023 2,710 8.14 5.1 $ 26,383 Granted — — Exercised (71) 1.58 Cancelled/forfeited — — Outstanding at March 31, 2024 2,639 8.32 4.9 $ 15,255 Vested and exercisable at March 31, 2024 2,110 6.28 3.7 $ 15,255
Schedule of RSU, PSU, MPSUs Activity	The following table summarizes RSU activity during the three months ended March 31, 2024: Number of Shares Weighted-Average (in thousands) Unvested RSUs as of December 31, 2023 11,244 $ 17.46 Granted 3,320 13.96 Vested (3,258) 16.34 Cancelled/forfeited (230) 21.95 Unvested RSUs as of March 31, 2024 11,076 $ 16.65 Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Nonvested PSUs as of December 31, 2023 732 $ 16.49 Granted 909 12.60 Vested (162) 16.14 Cancelled/forfeited (263) 16.05 Nonvested PSUs as of March 31, 2024 1,216 $ 13.72 Number of Shares Weighted-Average Grant Date Fair Value Per Share (in thousands) Nonvested MPSUs as of December 31, 2023 1,471 $ 6.46 Granted — — Vested — — Cancelled/forfeited (158) 6.69 Nonvested MPSUs as of March 31, 2024 1,313 $ 6.45
Schedule of Stock-Based Compensation Expense	The following table summarizes the components of total stock-based compensation expense included in the accompanying condensed consolidated statements of operations: Three months ended March 31, 2024 2023 (in thousands) Cost of revenue $ 2,779 $ 2,681 Research and development 10,323 11,481 Sales and marketing 7,843 6,705 General and administrative 10,876 7,284 Total stock-based compensation expense $ 31,821 $ 28,151

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Loss Per Share of Common Stock	The following table presents the computation of basic and diluted net loss per share of common stock: Three months ended March 31, 2024 2023 (in thousands, except per share amounts) Net loss attributable to common stockholders $ (43,427) $ (44,687) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 134,587 125,418 Net loss per share attributable to common stockholders, basic and diluted $ (0.32) $ (0.36)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities were excluded from the computation of diluted net loss per share of common stock for the periods presented as their effect would have been antidilutive: Number of Shares As of March 31, 2024 2023 (in thousands) Stock options 2,639 2,362 RSUs 11,076 11,799 PSUs 1,216 822 MPSUs 1,313 2,161 Shares issuable pursuant to the ESPP 550 581 Convertible senior notes (if-converted) 3,370 7,338 Total 20,164 25,063

Information About Revenue and_2

Information About Revenue and Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Long-Lived Assets by Geographic Region	The Company’s property and equipment and operating lease right-of-use assets, each net, by geographic area were as follows: As of March 31, 2024 As of December 31, 2023 (in thousands) United States $ 166,770 $ 166,413 All other countries 65,224 65,407 Total long-lived assets $ 231,994 $ 231,820

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - Customer One and Affiliated Customer - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	12%	10%
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	14%		23%

Revenue - Schedule of Net Reven

Revenue - Schedule of Net Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 133,520	$ 117,564
United States
Disaggregation of Revenue [Line Items]
Total revenue	98,498	85,364
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	19,098	16,431
Europe
Disaggregation of Revenue [Line Items]
Total revenue	11,246	10,515
All other
Disaggregation of Revenue [Line Items]
Total revenue	$ 4,678	$ 5,254

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Enterprise customer threshold	$ 100,000
Revenue, performance obligation, description of payment terms	The Company’s payment terms and conditions vary by contract type, and generally range from 30 to 90 days.
Amortization of deferred contract costs	$ 4,573,000	$ 3,425,000

Revenue - Schedule of Revenue b

Revenue - Schedule of Revenue by Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 133,520	$ 117,564
Network Services
Disaggregation of Revenue [Line Items]
Total revenue	105,996	94,307
Security
Disaggregation of Revenue [Line Items]
Total revenue	24,600	21,208
Other
Disaggregation of Revenue [Line Items]
Total revenue	2,924	2,049
Enterprise customers
Disaggregation of Revenue [Line Items]
Total revenue	122,060	107,373
Non-enterprise customers
Disaggregation of Revenue [Line Items]
Total revenue	$ 11,460	$ 10,191

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0		$ 621
Contract liabilities	41,136		$ 38,150
Contract with Customer, Liability
Revenue recognized in the period from amounts included in contract liability at the beginning of the period	$ 12,760	$ 12,221

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Narrative) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue performance obligation	$ 227
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation	$ 227
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	78%
Remaining performance obligation, timing of satisfaction	12 months

Revenue - Schedule of Costs to

Revenue - Schedule of Costs to Obtain Contracts (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred contract costs, net	$ 59,011	$ 61,981

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Schedule of Cash, Cash Equivalents, and Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	$ 150,809	$ 107,921	$ 348,463
Total marketable securities, current	178,677	214,799
Total marketable securities, non-current	1,743	6,088
Total marketable securities	180,420	220,887
Total cash and cash equivalents and marketable securities	331,229	328,808
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	21,799	73,448
Total marketable securities	21,799	73,448
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	83,789	105,566
Total marketable securities, non-current	1,743	5,999
Total marketable securities	85,532	111,565
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	63,111	25,934
Total marketable securities	63,111	25,934
Agency bonds
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	9,978	9,851
Total marketable securities	9,978	9,851
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, non-current	0	89
Total marketable securities		89
Cash
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	19,621	21,269
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	1,800	52,830
Money market funds
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	124,417	21,166
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	$ 4,971	$ 12,656

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Schedule of Available-For-Sale Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 312,036	$ 287,307
Gross Unrealized Gain	30	23
Gross Unrealized Loss	(458)	(957)
Fair Value	311,608	286,373
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	21,806	73,444
Gross Unrealized Gain	0	8
Gross Unrealized Loss	(7)	(4)
Fair Value	21,799	73,448
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	85,880	112,487
Gross Unrealized Gain	30	9
Gross Unrealized Loss	(378)	(931)
Fair Value	85,532	111,565
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	63,174	25,946
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(63)	(12)
Fair Value	63,111	25,934
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		89
Gross Unrealized Gain		0
Gross Unrealized Loss		0
Fair Value		89
Agency bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,984	9,854
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(6)	(3)
Fair Value	9,978	9,851
Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	124,417
Gross Unrealized Gain	0
Gross Unrealized Loss	0
Fair Value	124,417
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,800	52,824
Gross Unrealized Gain	0	6
Gross Unrealized Loss	0	0
Fair Value	1,800	52,830
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,975	12,663
Gross Unrealized Gain	0	0
Gross Unrealized Loss	(4)	(7)
Fair Value	$ 4,971	$ 12,656

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 131,188	$ 86,652
Marketable Securities	180,420	220,887
Total restricted cash	150	150
Total financial assets	311,758	307,689
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	21,799	73,448
Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	85,532	111,565
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	63,111	25,934
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities		89
Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	9,978	9,851
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	124,417	21,166
Total restricted cash	150	150
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	1,800	52,830
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	4,971	12,656
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	124,417	21,166
Marketable Securities	0	0
Total restricted cash	150	150
Total financial assets	124,567	21,316
Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 1 | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 1 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities		0
Level 1 | Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	124,417	21,166
Total restricted cash	150	150
Level 1 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	6,771	65,486
Marketable Securities	180,420	220,887
Total restricted cash	0	0
Total financial assets	187,191	286,373
Level 2 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	21,799	73,448
Level 2 | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	85,532	111,565
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	63,111	25,934
Level 2 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities		89
Level 2 | Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	9,978	9,851
Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total restricted cash	0	0
Level 2 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	1,800	52,830
Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	4,971	12,656
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Marketable Securities	0	0
Total restricted cash	0	0
Total financial assets	0	0
Level 3 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 3 | Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 3 | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities		0
Level 3 | Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	0	0
Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Total restricted cash	0	0
Level 3 | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	0	0
Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 0	$ 0

Investments and Fair Value Me_6

Investments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Restricted cash	$ 0.2	$ 0.2

Balance Sheet Information - Sch

Balance Sheet Information - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 341,657	$ 333,911
Accumulated depreciation and amortization	(164,083)	(157,303)
Property and equipment, net	177,574	176,608
Computer and networking equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	228,835	224,313
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,605	8,605
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,150	2,142
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,228	1,228
Internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	100,839	97,623
Property and equipment, net	$ 68,200	$ 62,600

Balance Sheet Information - Nar

Balance Sheet Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 13,300	$ 12,000
Property and equipment, net	177,574		$ 176,608
Internal-use software
Property, Plant and Equipment [Line Items]
Depreciation and amortization	3,900	$ 2,900
Property and equipment, net	68,200		62,600
Computer and networking equipment
Property, Plant and Equipment [Line Items]
Finance lease, right-of-use asset, before accumulated amortization	74,600		74,700
Finance lease, right-of-use asset, accumulated amortization	$ 43,500		$ 40,100

Balance Sheet Information - S_2

Balance Sheet Information - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Deferred contract costs, net	$ 59,011	$ 61,981
Advance payment for purchase of property and equipment	20,485	24,509
Other assets	4,548	4,289
Total other assets	$ 84,044	$ 90,779

Balance Sheet Information - S_3

Balance Sheet Information - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and related benefits	$ 13,046	$ 14,918
Accrued bonus	2,930	24,614
Accrued colocation and bandwidth costs	10,771	14,362
Other tax liabilities	4,071	4,344
Other accrued expenses	4,737	3,580
Total accrued expenses	$ 35,555	$ 61,818

Balance Sheet Information - S_4

Balance Sheet Information - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Deferred revenue	$ 38,240	$ 33,824
Accrued computer and networking equipment	1,460	1,673
Holdback payable	3,771	3,771
Other current liabilities	1,162	1,271
Total other current liabilities	$ 44,633	$ 40,539

Balance Sheet Information - S_5

Balance Sheet Information - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 979,488	$ 955,158
Other comprehensive income	487	3,692
Ending balance	991,806	958,555
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12)	(577)
Other comprehensive income	0	84
Ending balance	(12)	(493)
Available-for-sale investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(996)	(8,709)
Other comprehensive income	487	3,608
Ending balance	(509)	(5,101)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,008)	(9,286)
Other comprehensive income	487	3,692
Ending balance	$ (521)	$ (5,594)

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Sublease income	$ 400,000	$ 300,000
Impairment of operating lease right-of-use assets	0	$ 0
Lease not yet commenced, commitment amount	$ 2,000,000
Lease not yet commenced, term of contract	3 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms, operating (in years)	1 year
Subleases, remaining lease terms (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms, operating (in years)	6 years
Remaining lease terms, finance (in years)	1 year
Subleases, remaining lease terms (in years)	6 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease cost	$ 6,606	$ 7,201
Variable lease cost	4,247	3,576
Total operating lease costs	10,853	10,777
Amortization of assets under finance lease	3,595	3,623
Interest	162	439
Total finance lease costs	$ 3,757	$ 4,062

Leases - Schedule of Other Info

Leases - Schedule of Other Information (Details)	Mar. 31, 2024	Dec. 31, 2023
Weighted Average Remaining Lease Term (in years):
Operating leases	3 years 4 months 6 days	3 years 5 months 23 days
Finance leases	9 months 25 days	1 year
Weighted Average Discount Rate:
Operating leases	6.24%	6.03%
Finance leases	4.67%	4.67%

Leases - Schedule of Lease Matu

Leases - Schedule of Lease Maturity (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Operating Leases
Remaining 2024	$ 20,820
2025	22,187
2026	19,969
2027	11,286
2028	2,996
Thereafter	1,836
Total future minimum lease payments	79,094
Less: imputed interest	(7,686)
Total liability	71,408
Finance Leases
Remaining 2024	11,029
2025	1,617
2026	0
2027	0
2028	0
Thereafter	0
Total future minimum lease payments	12,646
Less: imputed interest	(232)
Total liability	$ 12,414

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 670,356,000		$ 670,356,000
Amortization of intangible assets	4,899,000	$ 5,175,000
Payments to acquire intangible assets	0	0
Impairment of intangible assets	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 128,884	$ 128,884
Accumulated amortization	(71,308)	(66,409)
Net carrying value	57,576	62,475
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	69,860	69,860
Accumulated amortization	(30,696)	(28,473)
Net carrying value	39,164	41,387
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	50,130	50,130
Accumulated amortization	(34,939)	(32,424)
Net carrying value	15,191	17,706
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	3,910	3,910
Accumulated amortization	(3,580)	(3,542)
Net carrying value	330	368
Internet protocol addresses
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	4,984	4,984
Accumulated amortization	(2,093)	(1,970)
Net carrying value	$ 2,891	$ 3,014

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Expected Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 14,699
2025	16,976
2026	9,193
2027	9,051
2028	6,892
Thereafter	765
Net carrying value	$ 57,576	$ 62,475

Debt Instruments - Senior Secur

Debt Instruments - Senior Secured Credit Facilities Agreement (Narrative) (Details) - Credit Agreement			3 Months Ended
	Jun. 28, 2023	Feb. 16, 2021 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Apr. 30, 2024 USD ($)	Apr. 29, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount		$ 100,000,000
Transaction costs		$ 600,000
Basis spread adjustment	0.10%
Debt covenant, adjusted quick ratio, minimum requirement		1.25
Debt covenant, adjusted quick ratio, minimum threshold to trigger revenue growth covenant requirement		1.75
Amounts drawn on line of credit during the period			$ 0	$ 0
Amount of debt outstanding			$ 0				$ 0
Subsequent Event
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount					$ 60,000,000	$ 100,000,000
Subsequent Event | Letter of Credit
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount					10,000,000
Subsequent Event | Bridge Loan
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount					$ 20,000,000
Minimum
Debt Instrument [Line Items]
Line of credit, unused capacity, commitment fee percentage		0.20%
Maximum
Debt Instrument [Line Items]
Line of credit, unused capacity, commitment fee percentage		0.25%
LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2%
SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2%
Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1%

Debt Instruments - Convertible

Debt Instruments - Convertible Senior Notes (Narrative) (Details) - 2026 Convertible Notes $ / shares in Units, $ in Millions		3 Months Ended
	Mar. 05, 2021 USD ($)	Mar. 31, 2024 d $ / shares	Dec. 31, 2023 USD ($)	May 25, 2022 USD ($)
Debt Instrument [Line Items]
Issuance of convertible note, net of issuance costs	$ 930
Debt instrument, convertible, conversion ratio		0.0097272
Debt instrument, convertible, conversion price (in US dollar per share) | $ / shares		$ 102.80
Fastly Conversion Option
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger		130%
Debt instrument, convertible, threshold trading days | d		20
Debt instrument, convertible, threshold consecutive trading days | d		30
Holder Conversion Option One
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger		130%
Debt instrument, convertible, threshold trading days | d		20
Debt instrument, convertible, threshold consecutive trading days | d		30
Holder Conversion Option Two
Debt Instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger		98%
Debt instrument, convertible, threshold trading days | d		5
Debt instrument, convertible, threshold consecutive trading days | d		10
Convertible Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 948.8
Interest rate, stated percentage	0%
Debt instrument, face amount, additional principal issuable	$ 123.8
Discount and transaction costs	$ 18.6
Debt instrument, repurchased face amount			$ 367.3	$ 235
Debt instrument, repurchase amount			309.1	176.4
Debt repurchase transaction costs			$ 2	$ 0.7
Convertible Debt | Fastly Conversion Option
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage		100%
Convertible Debt | Fundamental Change
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage		100%

Debt Instruments - Schedule of

Debt Instruments - Schedule of Carrying Values of Debt Agreements (Details) - Convertible Debt - 2026 Convertible Notes - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Effective interest rate	0.38%
Principal amount	$ 346,489	$ 346,489
Less: unamortized debt issuance costs	(2,652)	(2,982)
Less: current portion of long-term debt	0	0
Long-term debt, less current portion	$ 343,837	$ 343,507

Debt Instruments - Narrative (D

Debt Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt Disclosure [Abstract]
Interest expense	$ 0.4	$ 0.8
Total estimated fair value of the notes	$ 314.4		$ 301.4

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Purchase Commitments (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Long-term Purchase Commitment [Line Items]
Remainder of 2024	$ 42,334
2025	12,217
2026	11,191
2027	111
2028	40
Thereafter	0
Total	65,893
Cost of Revenue Commitments
Long-term Purchase Commitment [Line Items]
Remainder of 2024	37,203
2025	7,418
2026	8,122
2027	111
2028	40
Thereafter	0
Total	52,894
Operating Expense Commitments
Long-term Purchase Commitment [Line Items]
Remainder of 2024	5,131
2025	4,799
2026	3,069
2027	0
2028	0
Thereafter	0
Total	$ 12,999

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Sales and use tax liability	$ 4.1	$ 4.3

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Narrative) (Details)	3 Months Ended
	Mar. 31, 2024 plan shares	Dec. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | plan	4
Common stock, shares issued (in shares)	136,500,000	133,000,000
Common stock, shares outstanding (in shares)	136,500,000	133,000,000
Signal Sciences 2014 Equity Stock Options Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock options assumed (in shares)	251,754
2019 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares available for future issuance (in shares)	12,000,000	8,900,000

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 31,821	$ 28,151
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 600	$ 700
Stock options | 2011 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years
Award vesting period	4 years
Stock options | 2011 Equity Incentive Plan | First Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	25%
Stock options | 2011 Equity Incentive Plan | Remaining Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	36 months

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Shares
Options outstanding, beginning balance (in shares)	2,710
Granted (in shares)	0
Exercised (in shares)	(71)
Cancelled/forfeited (in shares)	0
Options outstanding, ending balance (in shares)	2,639	2,710
Vested and exercisable (in shares)	2,110
Weighted- Average  Exercise Price
Options outstanding, weighted-average exercise price, beginning of period (in US dollar per share)	$ 8.14
Granted, weighted-average exercise price (in US dollar per share)	0
Exercised, weighted-average exercise price (in US dollar per share)	1.58
Cancelled/forfeited, weighted-average exercise price (in US dollar per share)	0
Options outstanding, weighted-average exercise price, end of period (in US dollar per share)	8.32	$ 8.14
Vested and exercisable, weighted-average exercise price (in US dollar per share)	$ 6.28
Stock Option Activity, Additional Disclosures
Weighted-average remaining contractual period	4 years 10 months 24 days	5 years 1 month 6 days
Vested and exercisable, weighted average contractual term	3 years 8 months 12 days
Aggregate intrinsic value	$ 15,255	$ 26,383
Vested and exercisable, aggregate intrinsic value	$ 15,255

Stockholders' Equity - RSUs (Na

Stockholders' Equity - RSUs (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 31,821	$ 28,151
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 24,500	$ 23,600
RSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
RSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
RSUs | First Year | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award vesting percentage	25%
RSUs | First Year | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Award vesting percentage	33%
RSUs | Remaining Period | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	24 months
RSUs | Remaining Period | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	36 months

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of RSU, PSU, MPSUs Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
RSUs
Number of Shares
Beginning balance (in shares) | shares	11,244
Granted (in shares) | shares	3,320
Vested (in shares) | shares	(3,258)
Cancelled/forfeited (in shares) | shares	(230)
Ending balance (in shares) | shares	11,076
Weighted-Average  Grant Date Fair Value Per Share
Beginning balance (in US dollar per share) | $ / shares	$ 17.46
Granted (in US dollar per share) | $ / shares	13.96
Vested (in US dollar per share) | $ / shares	16.34
Cancelled/forfeited (in US dollar per share) | $ / shares	21.95
Ending balance (in US dollar per share) | $ / shares	$ 16.65
PSUs
Number of Shares
Beginning balance (in shares) | shares	732
Granted (in shares) | shares	909
Vested (in shares) | shares	(162)
Cancelled/forfeited (in shares) | shares	(263)
Ending balance (in shares) | shares	1,216
Weighted-Average  Grant Date Fair Value Per Share
Beginning balance (in US dollar per share) | $ / shares	$ 16.49
Granted (in US dollar per share) | $ / shares	12.60
Vested (in US dollar per share) | $ / shares	16.14
Cancelled/forfeited (in US dollar per share) | $ / shares	16.05
Ending balance (in US dollar per share) | $ / shares	$ 13.72
MPSUs
Number of Shares
Beginning balance (in shares) | shares	1,471
Granted (in shares) | shares	0
Vested (in shares) | shares	0
Cancelled/forfeited (in shares) | shares	(158)
Ending balance (in shares) | shares	1,313
Weighted-Average  Grant Date Fair Value Per Share
Beginning balance (in US dollar per share) | $ / shares	$ 6.46
Granted (in US dollar per share) | $ / shares	0
Vested (in US dollar per share) | $ / shares	0
Cancelled/forfeited (in US dollar per share) | $ / shares	6.69
Ending balance (in US dollar per share) | $ / shares	$ 6.45

Stockholders' Equity - Performa

Stockholders' Equity - Performance-Based Restricted Stock Units (PSUs) (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended
	Feb. 29, 2024	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 31,821	$ 28,151
Bonus Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of restricted stock units related to bonus (in shares)	1.9
Stock issued during period, value, restricted stock award, bonus program	$ 26,800
Bonus Program | Performance Target Payout Level One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout of performance-based restricted stock units, percentage	50%
Bonus Program | Performance Target Payout Level Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout of performance-based restricted stock units, percentage	100%
Bonus Program | Performance Target Payout Level Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout of performance-based restricted stock units, percentage	150%
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		1,200	300
PSUs | Bonus Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 6,500	$ 2,000

Stockholders' Equity - Market-B

Stockholders' Equity - Market-Based Performance Stock Units (MPSU) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 31,821	$ 28,151
MPSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 700	$ 1,600

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Program (ESPP) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 31,821	$ 28,151
Shares issued under ESPP (in shares)	0	0
Shares issuable pursuant to the ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum employee contribution as a percentage of salary	15%
Offering period duration	6 months
Purchase price of common stock, percent	85%
Stock-based compensation expense	$ 1,200	$ 1,300

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 31,821	$ 28,151
Share-based payment arrangement, amount capitalized	2,942	1,286
Liability Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	6,500	2,000
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,779	2,681
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	10,323	11,481
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,843	6,705
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 10,876	$ 7,284

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Loss Per Share of Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net loss attributable to common stockholders, basic	$ (43,427)	$ (44,687)
Net loss attributable to common stockholders, diluted	$ (43,427)	$ (44,687)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	134,587	125,418
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	134,587	125,418
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.32)	$ (0.36)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.32)	$ (0.36)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	20,164	25,063
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,639	2,362
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	11,076	11,799
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,216	822
MPSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,313	2,161
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	550	581
Convertible senior notes (if-converted)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,370	7,338

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 347	$ 135

Information About Revenue and_3

Information About Revenue and Geographic Areas (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 231,994	$ 231,820
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	166,770	166,413
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 65,224	$ 65,407

Subsequent Event (Details)

Subsequent Event (Details) - Credit Agreement - USD ($)	Apr. 30, 2024	Apr. 29, 2024	Feb. 16, 2021
Subsequent Event [Line Items]
Debt facility, maximum borrowing amount			$ 100,000,000
Subsequent Event
Subsequent Event [Line Items]
Debt facility, maximum borrowing amount	$ 60,000,000	$ 100,000,000
Subsequent Event | Letter of Credit
Subsequent Event [Line Items]
Debt facility, maximum borrowing amount	10,000,000
Subsequent Event | Bridge Loan
Subsequent Event [Line Items]
Debt facility, maximum borrowing amount	$ 20,000,000