Fastly: Innovators Platform
GAAP to Non-GAAP Reconciliation
($MM)
FY2017
FY2018
FY2019
Q1'2019
Q2'2019
Q3'2019
Q4'2019
Q1'2020
Q2'2020
Gross Profit
GAAP gross Profit
56.2
79.1
112.1
25.8
25.4
27.5
33.4
35.7
45.0
Stock-based compensation
0.2
0.3
1.4
0.1
0.3
0.4
0.5
0.6
1.1
Non-GAAP gross profit
$56.4
$79.3
$113.6
$26.0
$25.7
$27.9
$33.9
$36.3
$46.1
Non-GAAP gross margin
54%
55%
57%
57%
56%
56%
58%
58%
62%
Research and development
GAAP research and development
29.0
34.6
46.5
10.2
11.2
12.1
13.0
14.3
16.7
Stock-based compensation
(1.0)
(1.3)
(2.9)
(0.4)
(0.7)
(1.0)
(0.8)
(1.7)
(4.1)
Non-GAAP research and development
$27.9
$33.3
$43.6
$9.7
$10.5
$11.2
$12.1
$12.6
$12.6
Sales and marketing
GAAP sales and marketing
40.8
50.1
71.1
15.0
16.9
17.6
21.6
19.2
24.7
Stock-based compensation
(0.5)
(1.0)
(3.5)
(0.4)
(0.6)
(0.9)
(1.6)
(1.5)
(7.1)
Non-GAAP sales and marketing
$40.3
$49.1
$67.6
$14.7
$16.3
$16.6
$20.0
$17.7
$17.6
General and administrative
GAAP general and administrative
17.5
23.5
41.1
8.7
8.9
10.6
12.9
14.2
18.1
Stock-based compensation
(1.1)
(1.5)
(4.3)
(0.5)
(0.6)
(1.5)
(1.7)
(2.6)
(4.1)
Non-GAAP general and administrative
$16.4
$22.0
$36.8
$8.2
$8.3
$9.1
$11.2
$11.6
$14.0
Operating loss
GAAP operating loss
(31.0)
(29.1)
(46.5)
(8.1)
(11.7)
(12.8)
(14.0)
(12.0)
(14.4)
Stock-based compensation
2.8
4.1
12.1
1.5
2.2
3.8
4.6
6.3
16.3
Non-GAAP operating loss
($28.2)
($25.1)
($34.4)
($6.6)
($9.4)
($8.9)
($9.4)
($5.6)
$1.8
Net loss
GAAP net loss
(32.5)
(30.9)
(51.6)
(9.7)
(15.6)
(12.2)
(14.1)
(12.0)
(14.5)
Stock-based compensation
2.8
4.1
12.1
1.5
2.2
3.8
4.6
6.3
16.3
Interest expense-acceleration of
deferred debt costs due to early
1.8
1.8
repayment
Other expense-mark-to-market
0.5
0.7
2.4
0.7
1.7
warrant liability
Non-GAAP net loss
($29.1)
($26.1)
($35.2)
($7.6)
($9.9)
($8.3)
($9.5)
($5.7)
$1.8
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