Fastly (FSLY) 10-Q6 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares shares in Millions	9 Months Ended
Cover Page - shares shares in Millions	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		140.3
Entity Central Index Key	0001517413
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 217,514	$ 107,921
Marketable securities, current	90,733	214,799
Accounts receivable, net of allowance for credit losses of $6,847 and $7,054 as of September 30, 2024 and December 31, 2023, respectively	116,800	120,498
Prepaid expenses and other current assets	28,011	20,455
Total current assets	453,058	463,673
Property and equipment, net	180,288	176,608
Operating lease right-of-use assets, net	47,700	55,212
Goodwill	670,356	670,356
Intangible assets, net	47,776	62,475
Marketable securities, non-current	0	6,088
Other assets	72,576	90,779
Total assets	1,471,754	1,525,191
Current liabilities:
Accounts payable	11,354	5,611
Accrued expenses	40,854	61,818
Finance lease liabilities, current	4,882	15,684
Operating lease liabilities, current	23,857	24,042
Other current liabilities	33,261	40,539
Total current liabilities	114,208	147,694
Long-term debt	344,498	343,507
Finance lease liabilities, non-current	0	1,602
Operating lease liabilities, non-current	40,565	48,484
Other long-term liabilities	3,029	4,416
Total liabilities	502,300	545,703
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock	3	3
Additional paid-in capital	1,929,397	1,815,245
Accumulated other comprehensive loss	(22)	(1,008)
Accumulated deficit	(959,924)	(834,752)
Total stockholders’ equity	969,454	979,488
Total liabilities and stockholders’ equity	$ 1,471,754	$ 1,525,191

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 6,847	$ 7,054

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 137,206	$ 127,816	$ 403,097	$ 368,211
Cost of revenue	62,466	61,730	182,222	177,657
Gross profit	74,740	66,086	220,875	190,554
Operating expenses:
Research and development	31,884	39,068	105,238	113,920
Sales and marketing	45,994	51,043	148,560	143,111
General and administrative	27,173	30,001	87,245	84,651
Impairment expense	559	4,316	3,696	4,316
Restructuring charges	9,720	0	9,720	0
Total operating expenses	115,330	124,428	354,459	345,998
Loss from operations	(40,590)	(58,342)	(133,584)	(155,444)
Net gain on extinguishment of debt	0	0	0	36,760
Interest income	3,819	4,908	11,604	13,602
Interest expense	(473)	(862)	(1,516)	(3,307)
Other expense, net	(317)	(16)	(213)	(1,069)
Loss before income tax expense	(37,561)	(54,312)	(123,709)	(109,458)
Income tax expense (benefit)	455	(1)	1,463	244
Net loss	$ (38,016)	$ (54,311)	$ (125,172)	$ (109,702)
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.27)	$ (0.42)	$ (0.91)	$ (0.86)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.27)	$ (0.42)	$ (0.91)	$ (0.86)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	139,237	129,873	137,097	127,735
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	139,237	129,873	137,097	127,735

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Other Comprehensive Income [Abstract]
Net loss	$ (38,016)	$ (54,311)	$ (125,172)	$ (109,702)
Other comprehensive income:
Foreign currency translation adjustment	0	(8)	0	550
Unrealized gain on investments in available-for-sale-securities	260	1,226	986	6,802
Total other comprehensive income	260	1,218	986	7,352
Comprehensive loss	$ (37,756)	$ (53,093)	$ (124,186)	$ (102,350)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	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)		265
Exercise of vested stock options	2,008		2,008
Vesting of restricted stock units (in shares)		4,191
Issuance of restricted stock units related to bonus (in shares)		1,193
Issuance of restricted stock units related to bonus program	$ 16,599		16,599
Shares issued under ESPP (in shares)	700	697
Shares issued under ESPP	$ 4,977		4,977
Stock-based compensation	92,180		92,180
Net loss	(109,702)				(109,702)
Other comprehensive income	7,352			7,352
Ending balance (in shares) at Sep. 30, 2023		130,682
Ending balance at Sep. 30, 2023	968,572	$ 2	1,781,870	(1,934)	(811,366)
Beginning balance (in shares) at Jun. 30, 2023		129,027
Beginning balance at Jun. 30, 2023	987,754	$ 2	1,747,959	(3,152)	(757,055)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)		144
Exercise of vested stock options	$ 1,137		1,137
Vesting of restricted stock units (in shares)		1,511
Shares issued under ESPP (in shares)	0
Stock-based compensation	$ 32,774		32,774
Net loss	(54,311)				(54,311)
Other comprehensive income	1,218			1,218
Ending balance (in shares) at Sep. 30, 2023		130,682
Ending balance at Sep. 30, 2023	$ 968,572	$ 2	1,781,870	(1,934)	(811,366)
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)	125	125
Exercise of vested stock options	$ 310		310
Vesting of restricted stock units (in shares)		4,530
Issuance of restricted stock units related to bonus (in shares)		1,889
Issuance of restricted stock units related to bonus program	$ 26,849		26,849
Shares issued under ESPP (in shares)	500	544
Shares issued under ESPP	$ 4,053		4,053
Stock-based compensation	82,940		82,940
Net loss	(125,172)				(125,172)
Other comprehensive income	$ 986			986
Ending balance (in shares) at Sep. 30, 2024	140,100	140,080
Ending balance at Sep. 30, 2024	$ 969,454	$ 3	1,929,397	(22)	(959,924)
Beginning balance (in shares) at Jun. 30, 2024		138,396
Beginning balance at Jun. 30, 2024	981,187	$ 3	1,903,374	(282)	(921,908)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)		7
Exercise of vested stock options	$ 19		19
Vesting of restricted stock units (in shares)		1,677
Shares issued under ESPP (in shares)	0
Stock-based compensation	$ 26,004		26,004
Net loss	(38,016)				(38,016)
Other comprehensive income	$ 260			260
Ending balance (in shares) at Sep. 30, 2024	140,100	140,080
Ending balance at Sep. 30, 2024	$ 969,454	$ 3	$ 1,929,397	$ (22)	$ (959,924)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (125,172)	$ (109,702)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation expense	40,251	38,015
Amortization of intangible assets	14,699	15,525
Non-cash lease expense	16,819	17,227
Amortization of debt discount and issuance costs	1,061	2,020
Amortization of deferred contract costs	13,877	11,253
Stock-based compensation	82,985	100,856
Deferred income taxes	900	0
Provision for credit losses	2,400	1,311
Loss on disposals of property and equipment	444	505
Amortization of premiums (discounts) on investments	(3,466)	344
Impairment of operating lease right-of-use assets	371	588
Impairment expense	3,696	4,316
Net gain on extinguishment of debt	0	(36,760)
Other adjustments	83	(257)
Changes in operating assets and liabilities:
Accounts receivable	1,298	(10,355)
Prepaid expenses and other current assets	(7,420)	4,602
Other assets	(7,729)	(16,269)
Accounts payable	4,514	1,258
Accrued expenses	(4,142)	(6,253)
Operating lease liabilities	(19,341)	(16,937)
Other liabilities	(4,942)	6,452
Net cash provided by operating activities	11,186	7,739
Cash flows from investing activities:
Purchases of marketable securities	(155,099)	(73,091)
Sales of marketable securities	0	775
Maturities of marketable securities	289,709	428,125
Advance payment for purchase of property and equipment	(790)	0
Purchases of property and equipment	(5,361)	(8,283)
Proceeds from sale of property and equipment	24	49
Capitalized internal-use software	(20,492)	(15,390)
Net cash provided by investing activities	107,991	332,185
Cash flows from financing activities:
Cash paid for debt extinguishment	0	(196,934)
Repayments of finance lease liabilities	(12,404)	(21,243)
Payment of deferred consideration for business acquisitions	(3,771)	(4,393)
Proceeds from exercise of vested stock options	310	2,008
Proceeds from employee stock purchase plan	6,083	7,009
Net cash used in financing activities	(9,782)	(213,553)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash	48	538
Net increase in cash, cash equivalents, and restricted cash	109,443	126,909
Cash, cash equivalents, and restricted cash at beginning of period	108,071	143,541
Cash, cash equivalents, and restricted cash at end of period	217,514	270,450
Supplemental disclosure of cash flow information:
Cash paid for interest	453	1,286
Cash paid for income taxes, net of refunds received	739	369
Cash paid for finance lease interest	342	1,103
Noncash investing and financing activities:
Net increase in property and equipment included in accounts payable and accrued expenses	1,278	519
Capitalized stock-based compensation	7,952	6,912
Assets obtained in exchange for operating lease obligations	5,827	1,324
Net non-cash change in operating lease assets and liabilities associated with modifications and terminations	4,762	(978)
Deployments of prepaid capital equipment	$ 11,912	$ 1,664

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Reconciliation of Cash) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 217,514	$ 270,300
Restricted cash, current	0	150
Total cash, cash equivalents, and restricted cash	$ 217,514	$ 270,450

Nature of Business

Nature of Business	9 Months Ended
Nature of Business	Sep. 30, 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	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 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. In November 2024, the FASB issued ASU 2024-03 “Disaggregation of Income Statement Expenses,” which aims to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions. The guidance is effective for the Company's annual periods beginning in 2027 and interim periods beginning in the first quarter of fiscal year 2028. The Company is currently evaluating the impact of the new guidance. 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	9 Months Ended
Revenue	Sep. 30, 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 and nine months ended September 30, 2024 and 2023. The following table presents the Company’s net revenue by geographic region: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) United States $ 104,454 $ 93,422 $ 300,921 $ 268,660 Asia Pacific 14,609 18,935 51,030 52,633 Europe 13,015 10,493 36,364 31,877 All other 5,128 4,966 14,782 15,041 Total revenue $ 137,206 $ 127,816 $ 403,097 $ 368,211 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Enterprise customers $ 126,660 $ 117,327 $ 369,451 $ 337,359 Non-enterprise customers 10,546 10,489 33,646 30,852 Total revenue $ 137,206 $ 127,816 $ 403,097 $ 368,211 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Network Services $ 107,431 $ 102,526 $ 317,585 $ 295,320 Security 26,184 23,345 76,152 67,082 Other 3,591 1,945 9,360 5,809 Total revenue $ 137,206 $ 127,816 $ 403,097 $ 368,211 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 September 30, 2024 and as of December 31, 2023: As of September 30, 2024 As of December 31, 2023 (in thousands) Contract assets $ 1,121 $ 621 Contract liabilities $ 32,496 $ 38,150 The following table presents revenue recognized during the three and nine months ended September 30, 2024 and 2023 from amounts included in the contract liability at the beginning of the period: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Revenue recognized in the period from amounts included in contract liability at the beginning of the period $ 14,748 $ 12,279 $ 30,149 $ 27,616 Remaining performance obligations As of September 30, 2024, the aggregate amount of the transaction price in our contracts allocated to remaining performance obligations that are unsatisfied or partially unsatisfied was $235.4 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 September 30, 2024, the Company expects to recognize approximately 77% 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 September 30, 2024 and December 31, 2023, the Company's costs to obtain contracts were as follows: As of September 30, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 53,842 $ 61,981

Investments and Fair Value Meas

Investments and Fair Value Measurements	9 Months Ended
Investments and Fair Value Measurements	Sep. 30, 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 September 30, 2024 As of December 31, 2023 (in thousands) Cash and cash equivalents: Cash $ 18,245 $ 21,269 U.S. Treasury securities 49,789 52,830 Money market funds 149,480 21,166 Commercial paper — 12,656 Total cash and cash equivalents (1) $ 217,514 $ 107,921 Marketable securities: U.S. Treasury securities $ 37,557 $ 73,448 Corporate notes and bonds 26,451 105,566 Commercial paper 26,725 25,934 Agency bonds — 9,851 Total marketable securities, current (2) $ 90,733 $ 214,799 Corporate notes and bonds — 5,999 Asset-backed securities — 89 Total marketable securities, non-current (3) $ — $ 6,088 Total marketable securities $ 90,733 $ 220,887 Total cash and cash equivalents and marketable securities $ 308,247 $ 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 September 30, 2024 and December 31, 2023: As of September 30, 2024 Amortized Gross Gross Fair (in thousands) Cash equivalents: Money market funds $ 149,480 $ — $ — $ 149,480 U.S. Treasury securities 49,773 16 — 49,789 Marketable securities: U.S. Treasury securities 37,530 27 — 37,557 Corporate notes and bonds 26,450 9 (8) 26,451 Commercial paper 26,712 14 (1) 26,725 Total $ 289,945 $ 66 $ (9) $ 290,002 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 and nine months ended September 30, 2024 and 2023. Investments are reviewed periodically to identify possible other-than-temporary impairments. For the three and nine months ended September 30, 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 September 30, 2024 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 149,480 $ — $ — $ 149,480 U.S. Treasury securities — 49,789 — 49,789 Total cash equivalents 149,480 49,789 — 199,269 Marketable securities: U.S. Treasury securities — 37,557 — 37,557 Corporate notes and bonds — 26,451 — 26,451 Commercial paper — 26,725 — 26,725 Total marketable securities — 90,733 — 90,733 Total financial assets $ 149,480 $ 140,522 $ — $ 290,002 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 The Company had no restricted cash as of September 30, 2024. The restricted cash balance as of December 31, 2023 was $0.2 million and consisted of letters of credit related to lease arrangements that were collateralized by the Company’s cash. The amount was 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 and nine months ended September 30, 2024 and 2023.

Balance Sheet Information

Balance Sheet Information	9 Months Ended
Balance Sheet Information	Sep. 30, 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 September 30, 2024 As of December 31, 2023 (in thousands) Computer and networking equipment $ 233,412 $ 224,313 Leasehold improvements 8,139 8,605 Furniture and fixtures 2,153 2,142 Office equipment 1,218 1,228 Internal-use software 116,073 97,623 Property and equipment, gross $ 360,995 $ 333,911 Accumulated depreciation and amortization (180,707) (157,303) Property and equipment, net $ 180,288 $ 176,608 During the three months ended September 30, 2024, the Company recognized a impairment charge of $0.6 million related to equipment deemed no longer usable in its planned future network. During the nine months ended September 30, 2024, the Company recognized an impairment charge of $2.4 million related to equipment and an internal-use software project that the Company does not plan to continue with and therefore abandoned. During the three months ended September 30, 2023, the Company recognized an impairment charge of $4.3 million, of which $3.0 million related to property and equipment, net and $1.3 million related to advance payments for the purchase of property and equipment. The write-off was primarily related to excess computer and networking equipment including software the Company does not expect to use and therefore abandoned. There were no impairments during the nine months ended September 30, 2023. Impairment charges are included within the impairment expense line in the Company's condensed consolidated statements of operations. Depreciation on property and equipment for the three months ended September 30, 2024 and 2023 was approximately $13.7 million and $13.1 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $4.5 million and $3.8 million for the three months ended September 30, 2024 and 2023, respectively. Depreciation on property and equipment for the nine months ended September 30, 2024 and 2023 was approximately $40.3 million and $38.0 million, respectively. Included in these amounts was amortization expense for capitalized internal-use software costs of approximately $12.3 million and $9.9 million for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024 and December 31, 2023, the unamortized balance of capitalized internal-use software costs on the Company’s condensed consolidated balance sheets was approximately $76.3 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 September 30, 2024 and December 31, 2023, included a total of $73.2 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 $49.1 million and $40.1 million as of September 30, 2024 and December 31, 2023, respectively. Other Assets Other assets consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 53,842 $ 61,981 Advance payment for purchase of property and equipment 13,456 24,509 Other assets 5,278 4,289 Total other assets $ 72,576 $ 90,779 Accrued Expenses Accrued expenses consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Accrued compensation and related benefits $ 14,572 $ 14,918 Accrued bonus 4,364 24,614 Accrued colocation and bandwidth costs 14,684 14,362 Other tax liabilities 4,003 4,344 Other accrued expenses 3,231 3,580 Total accrued expenses $ 40,854 $ 61,818 Other Current Liabilities Other current liabilities consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Deferred revenue $ 29,716 $ 33,824 Accrued computer and networking equipment 1,741 1,673 Holdback payable — 3,771 Other current liabilities 1,804 1,271 Total other current liabilities $ 33,261 $ 40,539 Accumulated Other Comprehensive Loss For the three and nine months ended September 30, 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, June 30, 2024 $ (12) $ (270) $ (282) Other comprehensive income — 260 260 Balance, September 30, 2024 $ (12) $ (10) $ (22) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, June 30, 2023 $ (19) $ (3,133) $ (3,152) Other comprehensive income (loss) (8) 1,226 1,218 Balance, September 30, 2023 $ (27) $ (1,907) $ (1,934) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2023 $ (12) $ (996) $ (1,008) Other comprehensive income — 986 986 Balance, September 30, 2024 $ (12) $ (10) $ (22) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2022 $ (577) $ (8,709) $ (9,286) Other comprehensive income 550 6,802 7,352 Balance, September 30, 2023 $ (27) $ (1,907) $ (1,934) There was no material tax impact on the amounts presented.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 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 for each of the three months ended September 30, 2024 and 2023. The Company’s sublease income was $1.1 million and $1.0 million for the nine months ended September 30, 2024 and 2023, respectively. The components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Operating lease costs: Operating lease cost $ 6,466 $ 6,466 $ 19,904 $ 20,499 Variable lease cost 4,183 4,024 12,411 11,391 Total operating lease costs $ 10,649 $ 10,490 $ 32,315 $ 31,890 Finance lease costs: Amortization of assets under finance lease $ 3,294 $ 3,544 $ 10,329 $ 10,786 Interest 70 297 342 1,103 Total finance lease costs $ 3,364 $ 3,841 $ 10,671 $ 11,889 The short-term lease costs were not material for either of the three and nine months ended September 30, 2024 and 2023. During the three months ended September 30, 2024 the Company recognized an impairment charge of $0.4 million related to right-of-use assets upon the termination of a sublease. During the nine months ended September 30, 2024, the Company recognized an impairment charge of $1.7 million related to right-of-use assets, of which $1.3 million was related to the Company exiting a certain office facility and is included within the impairment expense line in the Company's condensed consolidated statements of operations. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three and nine months ended September 30, 2023. As of September 30, 2024 As of December 31, 2023 Weighted Average Remaining Lease Term (in years): Operating leases 3.01 3.48 Finance leases 0.49 1.00 Weighted Average Discount Rate: Operating leases 6.32 % 6.03 % Finance leases 4.66 % 4.67 % Future minimum lease payments under non-cancellable leases as of September 30, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 8,516 $ 3,319 2025 24,990 1,618 2026 21,806 — 2027 12,502 — 2028 3,128 — Thereafter 1,971 — Total future minimum lease payments $ 72,913 $ 4,937 Less: imputed interest (6,297) (51) Total liability $ 66,616 $ 4,886 As of September 30, 2024, the Company has undiscounted commitments of $2.2 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 fourth 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 for each of the three months ended September 30, 2024 and 2023. The Company’s sublease income was $1.1 million and $1.0 million for the nine months ended September 30, 2024 and 2023, respectively. The components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Operating lease costs: Operating lease cost $ 6,466 $ 6,466 $ 19,904 $ 20,499 Variable lease cost 4,183 4,024 12,411 11,391 Total operating lease costs $ 10,649 $ 10,490 $ 32,315 $ 31,890 Finance lease costs: Amortization of assets under finance lease $ 3,294 $ 3,544 $ 10,329 $ 10,786 Interest 70 297 342 1,103 Total finance lease costs $ 3,364 $ 3,841 $ 10,671 $ 11,889 The short-term lease costs were not material for either of the three and nine months ended September 30, 2024 and 2023. During the three months ended September 30, 2024 the Company recognized an impairment charge of $0.4 million related to right-of-use assets upon the termination of a sublease. During the nine months ended September 30, 2024, the Company recognized an impairment charge of $1.7 million related to right-of-use assets, of which $1.3 million was related to the Company exiting a certain office facility and is included within the impairment expense line in the Company's condensed consolidated statements of operations. The Company did not recognize any material impairment on its operating lease right-of-use assets for either of the three and nine months ended September 30, 2023. As of September 30, 2024 As of December 31, 2023 Weighted Average Remaining Lease Term (in years): Operating leases 3.01 3.48 Finance leases 0.49 1.00 Weighted Average Discount Rate: Operating leases 6.32 % 6.03 % Finance leases 4.66 % 4.67 % Future minimum lease payments under non-cancellable leases as of September 30, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 8,516 $ 3,319 2025 24,990 1,618 2026 21,806 — 2027 12,502 — 2028 3,128 — Thereafter 1,971 — Total future minimum lease payments $ 72,913 $ 4,937 Less: imputed interest (6,297) (51) Total liability $ 66,616 $ 4,886 As of September 30, 2024, the Company has undiscounted commitments of $2.2 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 fourth quarter of 2024 with lease terms of 3 years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill As of each of September 30, 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 and nine months ended September 30, 2024 and 2023. As of September 30, 2024 and December 31, 2023, the Company’s intangible assets consisted of the following: As of September 30, 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 $ (35,141) $ 34,719 $ 69,860 $ (28,473) $ 41,387 Developed technology 50,130 (39,968) 10,162 50,130 (32,424) 17,706 Trade names 3,910 (3,656) 254 3,910 (3,542) 368 Internet protocol addresses 4,984 (2,343) 2,641 4,984 (1,970) 3,014 Total intangible assets $ 128,884 $ (81,108) $ 47,776 $ 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 September 30, 2024 and 2023, respectively. Amortization expense was $14.7 million and $15.5 million for the nine months ended September 30, 2024 and 2023, respectively. The Company did not purchase any intangible assets during both the three and nine months ended September 30, 2024 and 2023. The Company did not record an impairment charge on its intangible assets during both the three and nine months ended September 30, 2024 and 2023. The expected amortization expense of intangible assets subject to amortization as of September 30, 2024 is as follows: As of September 30, 2024 (in thousands) Remainder of 2024 $ 4,900 2025 16,976 2026 9,193 2027 9,051 2028 6,891 Thereafter 765 Total $ 47,776

Debt Instruments

Debt Instruments	9 Months Ended
Debt Instruments	Sep. 30, 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 September 30, 2024, the Company was in compliance with all of the Credit Agreement’s covenants. During the three and nine months ended September 30, 2024 and 2023, no amounts were drawn down on the Credit Agreement. As of September 30, 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 September 30, 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 September 30, 2024 and December 31, 2023: As of September 30, 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 (1,991) (2,982) Less: current portion of long-term debt — — Long-term debt, less current portion $ 344,498 $ 343,507 For the three months ended September 30, 2024 and 2023, interest expense related to the Company’s debt obligations was $0.4 million and $0.6 million, respectively. For the nine months ended September 30, 2024 and 2023, interest expense related to the Company’s debt obligations was $1.2 million and $2.2 million, respectively. As of September 30, 2024 and December 31, 2023, the total estimated fair value of the Notes was $317.0 million and $301.4 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments As of September 30, 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 September 30, 2024 were as follows: Cost of Revenue Commitments Operating Expense Commitments Total Purchase Commitments (in thousands) Remainder of 2024 $ 14,539 $ 2,679 $ 17,218 2025 20,198 7,955 28,153 2026 8,128 5,376 13,504 2027 154 — 154 2028 70 — 70 Thereafter 18 — 18 Total $ 43,107 $ 16,010 $ 59,117 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 $4.0 million and $4.3 million as of September 30, 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 On May 24, 2024, a purported securities class action lawsuit was filed in the United States District Court for the Northern District of California, captioned Ken Kula v. Fastly, Inc., et al. (Case No. 4:24-cv-03170), naming the Company and certain of its officers as defendants. Motions for lead plaintiff were filed on July 23, 2024. On August 22, 2024, the court appointed lead plaintiff ("Lead Plaintiff") and lead counsel. On November 1, 2024, Lead Plaintiff filed an amended complaint. The amended complaint alleges violations of Section 10(b) and 20(a) of the Exchange Act purportedly on behalf of all those who purchased or acquired Fastly securities between November 15, 2023 and August 7, 2024. The complaint seeks unspecified compensatory damages, and other relief. The deadline for defendants to file a motion to dismiss is January 15, 2025. It is possible that additional lawsuits will be filed, or allegations made by stockholders, regarding these same or other matters and also naming as defendants the Company and its officers and directors. On June 12, 2024, certain of the Company's officers and directors were named as defendants in a stockholder derivative action filed in the United States District Court for the Northern District of California, captioned Roy v. Nightingale, et al. (Case No. 3:24-cv-03549-JCS). On July 1, 2024, a substantially similar stockholder derivative complaint was filed against the Company's officers and directors in the same court, captioned Steffens v. Nightingale et al. (Case No. 4:24-cv-03984-DMR). The derivative complaints assert that defendants breached their fiduciary duties as directors and/or officers of the Company, as well as claims of unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets, violations of Section 14(a) of the Exchange Act, and contribution under Sections 10(b) and 21D of the Exchange Act. On September 17, 2024, the court consolidated and stayed the derivative actions until after resolution of the Company's anticipated motion(s) to dismiss in the above-referenced securities class action. On August 23, 2024, a substantially similar stockholder derivative complaint was filed against the Company's officers and directors in the United States District Court for the District of Delaware, captioned Mark Sweitzer v. Nightingale, et al. (Case No. 1:24-cv-00969-GBW) (the "Sweitzer Action"). On September 26, 2024, the court stayed the Sweitzer Action until after resolution of the Company's anticipated motion(s) to dismiss in the above-referenced securities class action. It is possible that additional lawsuits will be filed, or allegations made by stockholders, regarding these same or other matters and also naming as defendants the Company and its officers and directors. The Company is also party to various disputes that management considers routine and incidental to its business. Management does not expect the results of any of these routine actions to have a material effect on the Company's business, results of operations, financial conditions, or cash flows. The pending lawsuits and any other related lawsuits are subject to inherent uncertainties, and the actual defense and disposition costs will depend upon many unknown factors. The outcome of the pending lawsuits and any other related lawsuits is necessarily uncertain. The Company could be forced to expend significant resources in the defense of the pending lawsuits and any additional lawsuits, and it may not prevail. In addition, the Company may incur substantial legal fees and costs in connection with such lawsuits. The Company is not currently able to estimate the possible cost to it from these matters, as the pending lawsuits are currently at an early stage, and it cannot be certain how long it may take to resolve the pending lawsuits or the possible amount of any damages that it may be required to pay. Such amounts could be material to the Company's financial statements if the Company does not prevail in the defense against the pending lawsuits and any other related lawsuits, or even if it does prevail. As of September 30, 2024, the Company has not recorded any significant accruals for loss contingencies associated with the above mentioned lawsuits as it does not believe an outcome resulting in a loss is probable. It will accrue for loss contingencies if it becomes both probable that it will incur a loss and if the Company can reasonably estimate the amount or range of the loss. 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	9 Months Ended
Stockholders' Equity	Sep. 30, 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 September 30, 2024 and December 31, 2023, there were 6.4 million and 8.9 million shares of common stock available for issuance under the 2019 Plan, respectively. As of September 30, 2024 and December 31, 2023, 140.1 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 nine months ended September 30, 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 (125) 2.48 Cancelled/forfeited (33) 11.92 Outstanding at September 30, 2024 2,552 8.38 4.2 $ 5,466 Vested and exercisable at September 30, 2024 2,100 6.63 3.2 $ 5,466 During the three months ended September 30, 2024 and 2023, the Company recorded stock-based compensation expense from stock options of approximately $0.4 million and $0.2 million, respectively. During the nine months ended September 30, 2024 and 2023, the Company recorded stock-based compensation expense from stock options of approximately $1.5 million and $1.3 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 nine months ended September 30, 2024: Number of Shares Weighted-Average (in thousands) Unvested RSUs as of December 31, 2023 11,244 $ 17.46 Granted 9,813 11.83 Vested (6,180) 16.95 Cancelled/forfeited (1,116) 17.51 Unvested RSUs as of September 30, 2024 13,761 $ 13.73 During the three months ended September 30, 2024 and 2023, the Company recognized stock-based compensation expense related to RSUs of $23.8 million and $28.7 million, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized stock-based compensation expense related to RSUs of $74.2 million and $79.7 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 (239) 16.41 Cancelled/forfeited (271) 16.43 Nonvested PSUs as of September 30, 2024 1,131 $ 13.40 For the three months ended September 30, 2024 and 2023, the Company recognized $0.8 million and $1.5 million of stock-based compensation expense associated with these awards, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized $2.7 million and $3.2 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 September 30, 2024 and 2023, the Company recognized $1.5 million and $6.6 million of stock-based compensation expense associated with the Bonus Programs, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized $8.0 million and $15.6 million 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) 6.56 Nonvested MPSUs as of September 30, 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 September 30, 2024 and 2023, the Company recognized $0.7 million and $1.5 million stock-based compensation expense associated with these awards, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized $2.2 million and $4.9 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 September 30, 2024 and 2023 the Company recognized $0.3 million and $0.8 million in stock-based compensation expense related to the ESPP, respectively. During the nine months ended September 30, 2024 and 2023, the Company recognized $2.3 million and $3.1 million in stock-based compensation expense related to the ESPP, respectively. During the nine months ended September 30, 2024, 0.5 million shares of the Company’s common stock was purchased under the offering period that commenced in November 2023. During the nine months ended September 30, 2023, 0.7 million shares of the Company’s common stock were purchased under the offering period that commenced in November 2022. No shares of the Company’s common stock were purchased for either the three months ended September 30, 2024 or 2023. Equity Awards Modification There were no material equity modifications during the three and nine months ended September 30, 2024. In September 2023, as part of one employee's separation and transition plan, the Company modified this employee's outstanding equity awards in an amount that would have vested if this individual had remained an employee for an additional period of time. As a result of the modification, the Company recognized stock-based compensation expense of $0.4 million for the three and nine months ended September 30, 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Cost of revenue $ 1,911 $ 2,860 $ 6,734 $ 8,378 Research and development 7,378 12,122 25,684 35,808 Sales and marketing 7,113 9,061 22,014 25,643 General and administrative 8,614 11,670 28,553 31,027 Total stock-based compensation expense $ 25,016 $ 35,713 $ 82,985 $ 100,856 For the three months ended September 30, 2024 and 2023, the Company capitalized $2.5 million and $3.7 million of stock-based compensation expense, respectively. For the nine months ended September 30, 2024 and 2023, the Company capitalized $8.0 million and $6.9 million of stock-based compensation expense, respectively. For the three months ended September 30, 2024 and 2023, the Company recognized $1.5 million and $6.6 million of stock-based compensation expense associated with the liability classified awards related to the company-wide Bonus Program, respectively. For the nine months ended September 30, 2024 and 2023, the Company recognized $8.0 million and $15.6 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	9 Months Ended
Net Loss Per Share Attributable to Common Stockholders	Sep. 30, 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands, except per share amounts) Net loss attributable to common stockholders $ (38,016) $ (54,311) $ (125,172) $ (109,702) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 139,237 129,873 137,097 127,735 Net loss per share attributable to common stockholders, basic and diluted $ (0.27) $ (0.42) $ (0.91) $ (0.86) 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 September 30, 2024 2023 (in thousands) Stock options 2,552 2,135 RSUs 13,761 12,301 PSUs 1,132 829 MPSUs 1,313 2,161 Shares issuable pursuant to the ESPP 579 345 Convertible senior notes (if-converted) 3,370 4,644 Total 22,707 22,415 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	9 Months Ended
Income Taxes	Sep. 30, 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 and nine months ended September 30, 2024 and 2023 was primarily due to foreign tax expense. In the three months ended September 30, 2024 and 2023, the Company recorded income tax expense of $0.5 million and income tax benefit of less than $0.1 million, respectively. In the nine months ended September 30, 2024 and 2023, the Company recorded income tax expense of $1.5 million and $0.2 million, respectively.

Information About Revenue and G

Information About Revenue and Geographic Areas	9 Months Ended
Information About Revenue and Geographic Areas	Sep. 30, 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 September 30, 2024 As of December 31, 2023 (in thousands) United States $ 168,251 $ 166,413 All other countries 59,737 65,407 Total long-lived assets $ 227,988 $ 231,820

Restructuring Charges

Restructuring Charges	9 Months Ended
Restructuring Charges	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges During the three and nine months ended September 30, 2024, in an effort to streamline its organization, the Company initiated a restructuring plan to reduce expenses including a reduction of the Company’s workforce. In connection with this plan, the Company incurred charges of $9.7 million primarily consisting of employee-related severance and termination benefits. These charges are included within the restructuring charges line in the Company's condensed consolidated statements of operations. The plan was substantially completed by October 31, 2024. The following table presents activity related to the liability, which is recorded in accrued expenses in the Company's condensed consolidated balance sheet, for restructuring-related employee severance and benefits: Total (in thousands) Balance as of June 30, 2024 $ — Restructuring charges 9,720 Cash payments (5,070) Balance as of September 30, 2024 $ 4,650

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (38,016)	$ (54,311)	$ (125,172)	$ (109,702)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the Company’s last fiscal quarter, the Company’s directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted, terminated, or modified the contracts, instructions or written plans for the purchase or sale of the Company’s securities set forth in the table below. Type of Trading Arrangement Name and Position Action Adoption/ Termination Date Rule 10b5-1* Non- Rule 10b5-1** Total Shares of Class A Common Stock to be Sold Total Shares of Class A Common Stock to be Purchased Expiration Date Ronald Kisling, Chief Financial Officer (1) Adoption 9/5/2024 X — 224,000 — 12/31/2025 * Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. ** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act. (1) Ronald Kisling, the Company's Chief Financial Officer, adopted a Rule 10b5-1 Plan on September 5, 2024. Mr. Kisling's plan provides for the potential sale of up to 224,000 shares of the Company’s Class A Common Stock; provided, however, because certain of Mr. Kisling’s planned sale amounts are equal to: (i) the difference between a certain number of shares and shares sold under a Rule 10b5-1 Plan previously entered into by Mr. Kisling on November 11, 2023, which is currently in progress, and (ii) a designated percentage of the net number of shares resulting from RSUs vesting, of which a portion will be surrendered to the Company or sold to cover withholding taxes, depending on how many shares are withheld in these instances, the maximum number of shares to be sold may be less. The plan expires on December 31, 2025, or upon the earlier completion of all authorized transactions under the plan.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Ronald Kisling [Member]
Trading Arrangements, by Individual
Name	Ronald Kisling
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	9/5/2024
Expiration Date	12/31/2025
Arrangement Duration	482 days
Aggregate Available	224,000	224,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 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 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	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)	9 Months Ended
Revenue (Tables)	Sep. 30, 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) United States $ 104,454 $ 93,422 $ 300,921 $ 268,660 Asia Pacific 14,609 18,935 51,030 52,633 Europe 13,015 10,493 36,364 31,877 All other 5,128 4,966 14,782 15,041 Total revenue $ 137,206 $ 127,816 $ 403,097 $ 368,211
Schedule of Revenue by Customer Type	The following table presents the Company's net revenue for enterprise and non-enterprise customers: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Enterprise customers $ 126,660 $ 117,327 $ 369,451 $ 337,359 Non-enterprise customers 10,546 10,489 33,646 30,852 Total revenue $ 137,206 $ 127,816 $ 403,097 $ 368,211
Schedule of Revenue by Product Line	The following table presents the Company’s revenue by product line: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Network Services $ 107,431 $ 102,526 $ 317,585 $ 295,320 Security 26,184 23,345 76,152 67,082 Other 3,591 1,945 9,360 5,809 Total revenue $ 137,206 $ 127,816 $ 403,097 $ 368,211
Schedule of Contract Assets and Contract Liabilities	The following table presents the Company’s contract assets and contract liabilities as of September 30, 2024 and as of December 31, 2023: As of September 30, 2024 As of December 31, 2023 (in thousands) Contract assets $ 1,121 $ 621 Contract liabilities $ 32,496 $ 38,150 The following table presents revenue recognized during the three and nine months ended September 30, 2024 and 2023 from amounts included in the contract liability at the beginning of the period: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Revenue recognized in the period from amounts included in contract liability at the beginning of the period $ 14,748 $ 12,279 $ 30,149 $ 27,616
Schedule of Costs to Obtain Contracts	As of September 30, 2024 and December 31, 2023, the Company's costs to obtain contracts were as follows: As of September 30, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 53,842 $ 61,981

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	9 Months Ended
Investments and Fair Value Measurements (Tables)	Sep. 30, 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 September 30, 2024 As of December 31, 2023 (in thousands) Cash and cash equivalents: Cash $ 18,245 $ 21,269 U.S. Treasury securities 49,789 52,830 Money market funds 149,480 21,166 Commercial paper — 12,656 Total cash and cash equivalents (1) $ 217,514 $ 107,921 Marketable securities: U.S. Treasury securities $ 37,557 $ 73,448 Corporate notes and bonds 26,451 105,566 Commercial paper 26,725 25,934 Agency bonds — 9,851 Total marketable securities, current (2) $ 90,733 $ 214,799 Corporate notes and bonds — 5,999 Asset-backed securities — 89 Total marketable securities, non-current (3) $ — $ 6,088 Total marketable securities $ 90,733 $ 220,887 Total cash and cash equivalents and marketable securities $ 308,247 $ 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 September 30, 2024 and December 31, 2023: As of September 30, 2024 Amortized Gross Gross Fair (in thousands) Cash equivalents: Money market funds $ 149,480 $ — $ — $ 149,480 U.S. Treasury securities 49,773 16 — 49,789 Marketable securities: U.S. Treasury securities 37,530 27 — 37,557 Corporate notes and bonds 26,450 9 (8) 26,451 Commercial paper 26,712 14 (1) 26,725 Total $ 289,945 $ 66 $ (9) $ 290,002 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 September 30, 2024 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents: Money market funds $ 149,480 $ — $ — $ 149,480 U.S. Treasury securities — 49,789 — 49,789 Total cash equivalents 149,480 49,789 — 199,269 Marketable securities: U.S. Treasury securities — 37,557 — 37,557 Corporate notes and bonds — 26,451 — 26,451 Commercial paper — 26,725 — 26,725 Total marketable securities — 90,733 — 90,733 Total financial assets $ 149,480 $ 140,522 $ — $ 290,002 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)	9 Months Ended
Balance Sheet Information (Tables)	Sep. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Computer and networking equipment $ 233,412 $ 224,313 Leasehold improvements 8,139 8,605 Furniture and fixtures 2,153 2,142 Office equipment 1,218 1,228 Internal-use software 116,073 97,623 Property and equipment, gross $ 360,995 $ 333,911 Accumulated depreciation and amortization (180,707) (157,303) Property and equipment, net $ 180,288 $ 176,608
Schedule of Other Assets	Other assets consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Deferred contract costs, net $ 53,842 $ 61,981 Advance payment for purchase of property and equipment 13,456 24,509 Other assets 5,278 4,289 Total other assets $ 72,576 $ 90,779
Schedule of Accrued Expenses	Accrued expenses consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Accrued compensation and related benefits $ 14,572 $ 14,918 Accrued bonus 4,364 24,614 Accrued colocation and bandwidth costs 14,684 14,362 Other tax liabilities 4,003 4,344 Other accrued expenses 3,231 3,580 Total accrued expenses $ 40,854 $ 61,818
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: As of September 30, 2024 As of December 31, 2023 (in thousands) Deferred revenue $ 29,716 $ 33,824 Accrued computer and networking equipment 1,741 1,673 Holdback payable — 3,771 Other current liabilities 1,804 1,271 Total other current liabilities $ 33,261 $ 40,539
Schedule of Accumulated Other Comprehensive Loss	For the three and nine months ended September 30, 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, June 30, 2024 $ (12) $ (270) $ (282) Other comprehensive income — 260 260 Balance, September 30, 2024 $ (12) $ (10) $ (22) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, June 30, 2023 $ (19) $ (3,133) $ (3,152) Other comprehensive income (loss) (8) 1,226 1,218 Balance, September 30, 2023 $ (27) $ (1,907) $ (1,934) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2023 $ (12) $ (996) $ (1,008) Other comprehensive income — 986 986 Balance, September 30, 2024 $ (12) $ (10) $ (22) Foreign Currency Translation Available-for-sale investments Accumulated Other Comprehensive Income (Loss) Balance, December 31, 2022 $ (577) $ (8,709) $ (9,286) Other comprehensive income 550 6,802 7,352 Balance, September 30, 2023 $ (27) $ (1,907) $ (1,934)

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease Costs & Other Information	The components of lease cost were as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Operating lease costs: Operating lease cost $ 6,466 $ 6,466 $ 19,904 $ 20,499 Variable lease cost 4,183 4,024 12,411 11,391 Total operating lease costs $ 10,649 $ 10,490 $ 32,315 $ 31,890 Finance lease costs: Amortization of assets under finance lease $ 3,294 $ 3,544 $ 10,329 $ 10,786 Interest 70 297 342 1,103 Total finance lease costs $ 3,364 $ 3,841 $ 10,671 $ 11,889 As of September 30, 2024 As of December 31, 2023 Weighted Average Remaining Lease Term (in years): Operating leases 3.01 3.48 Finance leases 0.49 1.00 Weighted Average Discount Rate: Operating leases 6.32 % 6.03 % Finance leases 4.66 % 4.67 %
Schedule of Operating Lease Maturity	Future minimum lease payments under non-cancellable leases as of September 30, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 8,516 $ 3,319 2025 24,990 1,618 2026 21,806 — 2027 12,502 — 2028 3,128 — Thereafter 1,971 — Total future minimum lease payments $ 72,913 $ 4,937 Less: imputed interest (6,297) (51) Total liability $ 66,616 $ 4,886
Schedule of Finance Lease Maturity	Future minimum lease payments under non-cancellable leases as of September 30, 2024 were as follows: Operating Leases Finance Leases (in thousands) Remaining 2024 $ 8,516 $ 3,319 2025 24,990 1,618 2026 21,806 — 2027 12,502 — 2028 3,128 — Thereafter 1,971 — Total future minimum lease payments $ 72,913 $ 4,937 Less: imputed interest (6,297) (51) Total liability $ 66,616 $ 4,886

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	As of September 30, 2024 and December 31, 2023, the Company’s intangible assets consisted of the following: As of September 30, 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 $ (35,141) $ 34,719 $ 69,860 $ (28,473) $ 41,387 Developed technology 50,130 (39,968) 10,162 50,130 (32,424) 17,706 Trade names 3,910 (3,656) 254 3,910 (3,542) 368 Internet protocol addresses 4,984 (2,343) 2,641 4,984 (1,970) 3,014 Total intangible assets $ 128,884 $ (81,108) $ 47,776 $ 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 September 30, 2024 is as follows: As of September 30, 2024 (in thousands) Remainder of 2024 $ 4,900 2025 16,976 2026 9,193 2027 9,051 2028 6,891 Thereafter 765 Total $ 47,776

Debt Instruments (Tables)

Debt Instruments (Tables)	9 Months Ended
Debt Instruments (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Carrying Values of Debt Agreements	The following table reflects the carrying values of the debt agreements as of September 30, 2024 and December 31, 2023: As of September 30, 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 (1,991) (2,982) Less: current portion of long-term debt — — Long-term debt, less current portion $ 344,498 $ 343,507

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 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 September 30, 2024 were as follows: Cost of Revenue Commitments Operating Expense Commitments Total Purchase Commitments (in thousands) Remainder of 2024 $ 14,539 $ 2,679 $ 17,218 2025 20,198 7,955 28,153 2026 8,128 5,376 13,504 2027 154 — 154 2028 70 — 70 Thereafter 18 — 18 Total $ 43,107 $ 16,010 $ 59,117

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity during the nine months ended September 30, 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 (125) 2.48 Cancelled/forfeited (33) 11.92 Outstanding at September 30, 2024 2,552 8.38 4.2 $ 5,466 Vested and exercisable at September 30, 2024 2,100 6.63 3.2 $ 5,466
Schedule of RSU, PSU, MPSUs Activity	The following table summarizes RSU activity during the nine months ended September 30, 2024: Number of Shares Weighted-Average (in thousands) Unvested RSUs as of December 31, 2023 11,244 $ 17.46 Granted 9,813 11.83 Vested (6,180) 16.95 Cancelled/forfeited (1,116) 17.51 Unvested RSUs as of September 30, 2024 13,761 $ 13.73 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 (239) 16.41 Cancelled/forfeited (271) 16.43 Nonvested PSUs as of September 30, 2024 1,131 $ 13.40 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) 6.56 Nonvested MPSUs as of September 30, 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands) Cost of revenue $ 1,911 $ 2,860 $ 6,734 $ 8,378 Research and development 7,378 12,122 25,684 35,808 Sales and marketing 7,113 9,061 22,014 25,643 General and administrative 8,614 11,670 28,553 31,027 Total stock-based compensation expense $ 25,016 $ 35,713 $ 82,985 $ 100,856

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands, except per share amounts) Net loss attributable to common stockholders $ (38,016) $ (54,311) $ (125,172) $ (109,702) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 139,237 129,873 137,097 127,735 Net loss per share attributable to common stockholders, basic and diluted $ (0.27) $ (0.42) $ (0.91) $ (0.86)
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 September 30, 2024 2023 (in thousands) Stock options 2,552 2,135 RSUs 13,761 12,301 PSUs 1,132 829 MPSUs 1,313 2,161 Shares issuable pursuant to the ESPP 579 345 Convertible senior notes (if-converted) 3,370 4,644 Total 22,707 22,415

Information About Revenue and_2

Information About Revenue and Geographic Areas (Tables)	9 Months Ended
Information About Revenue and Geographic Areas (Tables)	Sep. 30, 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 September 30, 2024 As of December 31, 2023 (in thousands) United States $ 168,251 $ 166,413 All other countries 59,737 65,407 Total long-lived assets $ 227,988 $ 231,820

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
Restructuring Charges (Tables)	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Summary of Restructuring and Related Costs	The following table presents activity related to the liability, which is recorded in accrued expenses in the Company's condensed consolidated balance sheet, for restructuring-related employee severance and benefits: Total (in thousands) Balance as of June 30, 2024 $ — Restructuring charges 9,720 Cash payments (5,070) Balance as of September 30, 2024 $ 4,650

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - Customer Concentration Risk	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
One Customer \| Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	10%
Affiliated Customer \| Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	14%	10%	11%
Affiliated Customer \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage				23%
Affiliated Customers, Business Unit of a Single Company \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage		11%

Revenue - Schedule of Net Reven

Revenue - Schedule of Net Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 137,206	$ 127,816	$ 403,097	$ 368,211
United States
Disaggregation of Revenue [Line Items]
Total revenue	104,454	93,422	300,921	268,660
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	14,609	18,935	51,030	52,633
Europe
Disaggregation of Revenue [Line Items]
Total revenue	13,015	10,493	36,364	31,877
All other
Disaggregation of Revenue [Line Items]
Total revenue	$ 5,128	$ 4,966	$ 14,782	$ 15,041

Revenue - Narrative (Details)

Revenue - Narrative (Details)	3 Months Ended		9 Months Ended
Revenue - Narrative (Details)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) product_line	Sep. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Enterprise customer threshold	$ 100,000		$ 100,000
Number of product lines \| product_line			3
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	$ 4,800,000	$ 4,100,000	$ 13,877,000	$ 11,253,000

Revenue - Schedule of Revenue b

Revenue - Schedule of Revenue by Customer Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 137,206	$ 127,816	$ 403,097	$ 368,211
Network Services
Disaggregation of Revenue [Line Items]
Total revenue	107,431	102,526	317,585	295,320
Security
Disaggregation of Revenue [Line Items]
Total revenue	26,184	23,345	76,152	67,082
Other
Disaggregation of Revenue [Line Items]
Total revenue	3,591	1,945	9,360	5,809
Enterprise customers
Disaggregation of Revenue [Line Items]
Total revenue	126,660	117,327	369,451	337,359
Non-enterprise customers
Disaggregation of Revenue [Line Items]
Total revenue	$ 10,546	$ 10,489	$ 33,646	$ 30,852

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 1,121		$ 1,121		$ 621
Contract liabilities	32,496		32,496		$ 38,150
Contract with Customer, Liability
Revenue recognized in the period from amounts included in contract liability at the beginning of the period	$ 14,748	$ 12,279	$ 30,149	$ 27,616

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Narrative) (Details) $ in Millions	Sep. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue performance obligation	$ 235.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue performance obligation	$ 235.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	77%
Remaining performance obligation, timing of satisfaction	12 months

Revenue - Schedule of Costs to

Revenue - Schedule of Costs to Obtain Contracts (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred contract costs, net	$ 53,842	$ 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	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	$ 217,514	$ 107,921	$ 270,300
Total marketable securities, current	90,733	214,799
Total marketable securities, non-current	0	6,088
Total marketable securities	90,733	220,887
Total cash and cash equivalents and marketable securities	308,247	328,808
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	37,557	73,448
Total marketable securities	37,557	73,448
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	26,451	105,566
Total marketable securities, non-current	0	5,999
Total marketable securities	26,451	111,565
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	26,725	25,934
Total marketable securities	26,725	25,934
Agency bonds
Debt Securities, Available-for-sale [Line Items]
Total marketable securities, current	0	9,851
Total marketable securities		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	18,245	21,269
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	49,789	52,830
Money market funds
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	149,480	21,166
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Total cash and cash equivalents	$ 0	$ 12,656

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Schedule of Available-For-Sale Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 289,945	$ 287,307
Gross Unrealized Gain	66	23
Gross Unrealized Loss	(9)	(957)
Fair Value	290,002	286,373
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	37,530	73,444
Gross Unrealized Gain	27	8
Gross Unrealized Loss	0	(4)
Fair Value	37,557	73,448
Corporate notes and bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	26,450	112,487
Gross Unrealized Gain	9	9
Gross Unrealized Loss	(8)	(931)
Fair Value	26,451	111,565
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	26,712	25,946
Gross Unrealized Gain	14	0
Gross Unrealized Loss	(1)	(12)
Fair Value	26,725	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		9,854
Gross Unrealized Gain		0
Gross Unrealized Loss		(3)
Fair Value		9,851
Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	149,480
Gross Unrealized Gain	0
Gross Unrealized Loss	0
Fair Value	149,480
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	49,773	52,824
Gross Unrealized Gain	16	6
Gross Unrealized Loss	0	0
Fair Value	$ 49,789	52,830
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		12,663
Gross Unrealized Gain		0
Gross Unrealized Loss		(7)
Fair Value		$ 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	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	$ 199,269	$ 86,652
Marketable securities	90,733	220,887
Total restricted cash		150
Total financial assets	290,002	307,689
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	37,557	73,448
Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26,451	111,565
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26,725	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		9,851
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	149,480	21,166
Total restricted cash		150
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	49,789	52,830
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		12,656
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	149,480	21,166
Marketable securities	0	0
Total restricted cash		150
Total financial assets	149,480	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
Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	149,480	21,166
Total restricted cash		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
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	49,789	65,486
Marketable securities	90,733	220,887
Total restricted cash		0
Total financial assets	140,522	286,373
Level 2 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	37,557	73,448
Level 2 \| Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26,451	111,565
Level 2 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	26,725	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		9,851
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
Level 2 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents	49,789	52,830
Level 2 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents		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
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
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
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

Investments and Fair Value Me_6

Investments and Fair Value Measurements - Narrative (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Restricted cash	$ 0	$ 200,000

Balance Sheet Information - Sch

Balance Sheet Information - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 360,995	$ 333,911
Accumulated depreciation and amortization	(180,707)	(157,303)
Property and equipment, net	180,288	176,608
Computer and networking equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	233,412	224,313
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,139	8,605
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,153	2,142
Office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,218	1,228
Internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	116,073	97,623
Property and equipment, net	$ 76,300	$ 62,600

Balance Sheet Information - Nar

Balance Sheet Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Impairment charge	$ 600		$ 2,400	$ 0
Impairment expense	559	$ 4,316	3,696	4,316
Depreciation and amortization	13,700	13,100	40,300	38,000
Property and equipment, net	180,288		180,288		$ 176,608
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Impairment expense		3,000
Property, Plant And Equipment, Advance Payments
Property, Plant and Equipment [Line Items]
Impairment expense		1,300
Internal-use software
Property, Plant and Equipment [Line Items]
Depreciation and amortization	4,500	$ 3,800	12,300	$ 9,900
Property and equipment, net	76,300		76,300		62,600
Computer and networking equipment
Property, Plant and Equipment [Line Items]
Finance lease, right-of-use asset, before accumulated amortization	73,200		73,200		74,700
Finance lease, right-of-use asset, accumulated amortization	$ 49,100		$ 49,100		$ 40,100

Balance Sheet Information - S_2

Balance Sheet Information - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Deferred contract costs, net	$ 53,842	$ 61,981
Advance payment for purchase of property and equipment	13,456	24,509
Other assets	5,278	4,289
Total other assets	$ 72,576	$ 90,779

Balance Sheet Information - S_3

Balance Sheet Information - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and related benefits	$ 14,572	$ 14,918
Accrued bonus	4,364	24,614
Accrued colocation and bandwidth costs	14,684	14,362
Other tax liabilities	4,003	4,344
Other accrued expenses	3,231	3,580
Total accrued expenses	$ 40,854	$ 61,818

Balance Sheet Information - S_4

Balance Sheet Information - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Deferred revenue	$ 29,716	$ 33,824
Accrued computer and networking equipment	1,741	1,673
Holdback payable	0	3,771
Other current liabilities	1,804	1,271
Total other current liabilities	$ 33,261	$ 40,539

Balance Sheet Information - S_5

Balance Sheet Information - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 981,187	$ 987,754	$ 979,488	$ 955,158
Other comprehensive income (loss)	260	1,218	986	7,352
Ending balance	969,454	968,572	969,454	968,572
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(12)	(19)	(12)	(577)
Other comprehensive income (loss)	0	(8)	0	550
Ending balance	(12)	(27)	(12)	(27)
Available-for-sale investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(270)	(3,133)	(996)	(8,709)
Other comprehensive income (loss)	260	1,226	986	6,802
Ending balance	(10)	(1,907)	(10)	(1,907)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(282)	(3,152)	(1,008)	(9,286)
Other comprehensive income (loss)	260	1,218	986	7,352
Ending balance	$ (22)	$ (1,934)	$ (22)	$ (1,934)

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee, Lease, Description [Line Items]
Sublease income	$ 400	$ 400	$ 1,100	$ 1,000
Impairment of operating lease right-of-use assets	400	0	1,700	0
Lease impairment, office facility exit costs			1,300
Impairment expense	559	$ 4,316	3,696	$ 4,316
Lease not yet commenced, commitment amount	$ 2,200		$ 2,200
Lease not yet commenced, term of contract	3 years		3 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms, operating (in years)	1 year		1 year
Subleases, remaining lease terms (in years)			1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms, operating (in years)	6 years		6 years
Remaining lease terms, finance (in years)	1 year		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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost	$ 6,466	$ 6,466	$ 19,904	$ 20,499
Variable lease cost	4,183	4,024	12,411	11,391
Total operating lease costs	10,649	10,490	32,315	31,890
Amortization of assets under finance lease	3,294	3,544	10,329	10,786
Interest	70	297	342	1,103
Total finance lease costs	$ 3,364	$ 3,841	$ 10,671	$ 11,889

Leases - Schedule of Other Info

Leases - Schedule of Other Information (Details)	Sep. 30, 2024	Dec. 31, 2023
Weighted Average Remaining Lease Term (in years):
Operating leases	3 years 3 days	3 years 5 months 23 days
Finance leases	5 months 26 days	1 year
Weighted Average Discount Rate:
Operating leases	6.32%	6.03%
Finance leases	4.66%	4.67%

Leases - Schedule of Lease Matu

Leases - Schedule of Lease Maturity (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Operating Leases
Remaining 2024	$ 8,516
2025	24,990
2026	21,806
2027	12,502
2028	3,128
Thereafter	1,971
Total future minimum lease payments	72,913
Less: imputed interest	(6,297)
Total liability	66,616
Finance Leases
Remaining 2024	3,319
2025	1,618
2026	0
2027	0
2028	0
Thereafter	0
Total future minimum lease payments	4,937
Less: imputed interest	(51)
Total liability	$ 4,886

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 670,356,000		$ 670,356,000		$ 670,356,000
Amortization of intangible assets	4,900,000	$ 5,200,000	14,699,000	$ 15,525,000
Payments to acquire intangible assets	0	0	0	0
Impairment of intangible assets	$ 0	$ 0	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 128,884	$ 128,884
Accumulated amortization	(81,108)	(66,409)
Net carrying value	47,776	62,475
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	69,860	69,860
Accumulated amortization	(35,141)	(28,473)
Net carrying value	34,719	41,387
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	50,130	50,130
Accumulated amortization	(39,968)	(32,424)
Net carrying value	10,162	17,706
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	3,910	3,910
Accumulated amortization	(3,656)	(3,542)
Net carrying value	254	368
Internet protocol addresses
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	4,984	4,984
Accumulated amortization	(2,343)	(1,970)
Net carrying value	$ 2,641	$ 3,014

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Expected Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 4,900
2025	16,976
2026	9,193
2027	9,051
2028	6,891
Thereafter	765
Net carrying value	$ 47,776	$ 62,475

Debt Instruments - Senior Secur

Debt Instruments - Senior Secured Credit Facilities Agreement (Narrative) (Details) - Credit Agreement			3 Months Ended		9 Months Ended
	Apr. 30, 2024 USD ($)	Feb. 16, 2021 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Apr. 29, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount	$ 60,000,000	$ 100,000,000					$ 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	$ 0	$ 0
Amount of debt outstanding			$ 0		$ 0			$ 0
Letter of Credit
Debt Instrument [Line Items]
Debt facility, maximum borrowing amount	$ 10,000,000
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		9 Months Ended
	Mar. 05, 2021 USD ($)	Sep. 30, 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	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Effective interest rate	0.38%
Principal amount	$ 346,489	$ 346,489
Less: unamortized debt issuance costs	(1,991)	(2,982)
Less: current portion of long-term debt	0	0
Long-term debt, less current portion	$ 344,498	$ 343,507

Debt Instruments - Narrative (D

Debt Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Disclosure [Abstract]
Interest expense	$ 0.4	$ 0.6	$ 1.2	$ 2.2
Total estimated fair value of the notes	$ 317		$ 317		$ 301.4

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Purchase Commitments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Long-term Purchase Commitment [Line Items]
Remainder of 2024	$ 17,218
2025	28,153
2026	13,504
2027	154
2028	70
Thereafter	18
Total	59,117
Cost of Revenue Commitments
Long-term Purchase Commitment [Line Items]
Remainder of 2024	14,539
2025	20,198
2026	8,128
2027	154
2028	70
Thereafter	18
Total	43,107
Operating Expense Commitments
Long-term Purchase Commitment [Line Items]
Remainder of 2024	2,679
2025	7,955
2026	5,376
2027	0
2028	0
Thereafter	0
Total	$ 16,010

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Sales and use tax liability	$ 4	$ 4.3

Stockholders' Equity - Equity I

Stockholders' Equity - Equity Incentive Plans (Narrative) (Details)	9 Months Ended
	Sep. 30, 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)	140,100,000	133,000,000
Common stock, shares outstanding (in shares)	140,100,000	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)	6,400,000	8,900,000

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25,016	$ 35,713	$ 82,985	$ 100,856
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 400	$ 200	$ 1,500	$ 1,300
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) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Shares
Options outstanding, beginning balance (in shares) \| shares	2,710
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	(125)
Cancelled/forfeited (in shares) \| shares	(33)
Options outstanding, ending balance (in shares) \| shares	2,552	2,710
Vested and exercisable (in shares) \| shares	2,100
Weighted- Average Exercise Price
Options outstanding, weighted-average exercise price, beginning of period (in US dollar per share) \| $ / shares	$ 8.14
Granted, weighted-average exercise price (in US dollar per share) \| $ / shares	0
Exercised, weighted-average exercise price (in US dollar per share) \| $ / shares	2.48
Cancelled/forfeited, weighted-average exercise price (in US dollar per share) \| $ / shares	11.92
Options outstanding, weighted-average exercise price, end of period (in US dollar per share) \| $ / shares	8.38	$ 8.14
Vested and exercisable, weighted-average exercise price (in US dollar per share) \| $ / shares	$ 6.63
Stock Option Activity, Additional Disclosures
Weighted-average remaining contractual period	4 years 2 months 12 days	5 years 1 month 6 days
Vested and exercisable, weighted average contractual term	3 years 2 months 12 days
Aggregate intrinsic value \| $	$ 5,466	$ 26,383
Vested and exercisable, aggregate intrinsic value \| $	$ 5,466

Stockholders' Equity - RSUs (Na

Stockholders' Equity - RSUs (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25,016	$ 35,713	$ 82,985	$ 100,856
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 23,800	$ 28,700	$ 74,200	$ 79,700
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	9 Months Ended
	Sep. 30, 2024 $ / shares shares
RSUs
Number of Shares
Beginning balance (in shares) \| shares	11,244
Granted (in shares) \| shares	9,813
Vested (in shares) \| shares	(6,180)
Cancelled/forfeited (in shares) \| shares	(1,116)
Ending balance (in shares) \| shares	13,761
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	11.83
Vested (in US dollar per share) \| $ / shares	16.95
Cancelled/forfeited (in US dollar per share) \| $ / shares	17.51
Ending balance (in US dollar per share) \| $ / shares	$ 13.73
PSUs
Number of Shares
Beginning balance (in shares) \| shares	732
Granted (in shares) \| shares	909
Vested (in shares) \| shares	(239)
Cancelled/forfeited (in shares) \| shares	(271)
Ending balance (in shares) \| shares	1,131
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	16.41
Cancelled/forfeited (in US dollar per share) \| $ / shares	16.43
Ending balance (in US dollar per share) \| $ / shares	$ 13.40
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	6.56
Ending balance (in US dollar per share) \| $ / shares	$ 6.45

Stockholders' Equity - PSUs (Na

Stockholders' Equity - PSUs (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25,016	$ 35,713	$ 82,985	$ 100,856
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 800	$ 1,500	$ 2,700	$ 3,200

Stockholders' Equity - Company-

Stockholders' Equity - Company-Wide Bonus Program (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of restricted stock units related to bonus program				$ 26,849	$ 16,599
Stock-based compensation expense		$ 25,016	$ 35,713	82,985	100,856
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		800	1,500	2,700	3,200
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
Issuance of restricted stock units related to 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%
Bonus Program \| PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,500	$ 6,600	$ 8,000	$ 15,600

Stockholders' Equity - Market-B

Stockholders' Equity - Market-Based Performance Stock Units (MPSU) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25,016	$ 35,713	$ 82,985	$ 100,856
MPSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 700	$ 1,500	$ 2,200	$ 4,900

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Program (ESPP) (Narrative) (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25,016	$ 35,713	$ 82,985	$ 100,856
Shares issued under ESPP (in shares)	0	0	0.5	0.7
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	$ 300	$ 800	$ 2,300	$ 3,100

Stockholders' Equity - Equity A

Stockholders' Equity - Equity Awards Modification (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Modification expense	$ 0	$ 0.4	$ 0	$ 0.4

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 25,016	$ 35,713	$ 82,985	$ 100,856
Share-based payment arrangement, amount capitalized	2,500	3,700	7,952	6,912
Liability Classified Awards \| Bonus Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			8,000	15,600
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,911	2,860	6,734	8,378
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,378	12,122	25,684	35,808
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,113	9,061	22,014	25,643
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 8,614	$ 11,670	$ 28,553	$ 31,027

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net loss attributable to common stockholders, basic	$ (38,016)	$ (54,311)	$ (125,172)	$ (109,702)
Net loss attributable to common stockholders, diluted	$ (38,016)	$ (54,311)	$ (125,172)	$ (109,702)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	139,237	129,873	137,097	127,735
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	139,237	129,873	137,097	127,735
Net loss per share attributable to common stockholders, basic (in US dollar per share)	$ (0.27)	$ (0.42)	$ (0.91)	$ (0.86)
Net loss per share attributable to common stockholders, diluted (in US dollar per share)	$ (0.27)	$ (0.42)	$ (0.91)	$ (0.86)

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	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	22,707	22,415
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,552	2,135
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	13,761	12,301
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,132	829
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)	579	345
Convertible senior notes (if-converted)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	3,370	4,644

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Income tax expense (benefit)	$ 455	$ (1)	$ 1,463	$ 244
Less than
Effective Income Tax Rate Reconciliation [Line Items]
Income tax expense (benefit)		$ (100)

Information About Revenue and_3

Information About Revenue and Geographic Areas (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 227,988	$ 231,820
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	168,251	166,413
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 59,737	$ 65,407

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 9,720	$ 0	$ 9,720	$ 0

Restructuring Charges - Schedul

Restructuring Charges - Schedule of Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Balance as of June 30, 2024	$ 0
Restructuring charges	9,720	$ 0	$ 9,720	$ 0
Cash payments	(5,070)
Balance as of September 30, 2024	$ 4,650		$ 4,650