Akamai Technologies Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Akamai Technologies Inc. has filed its Q1 2024 10-Q report detailing its financial performance and position as of March 31, 2024.</b>

AI Summary

AKAMAI TECHNOLOGIES INC (AKAM) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Akamai Technologies Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The report was filed on May 9, 2024. The company's principal executive offices are located at 145 Broadway, Cambridge, MA 02142. Akamai Technologies Inc. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking AKAMAI TECHNOLOGIES INC, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest quarterly financial data for Akamai Technologies Inc., crucial for assessing recent performance and future outlook. The detailed financial statements and disclosures within the 10-Q allow stakeholders to understand the company's operational results, financial health, and any material changes since the last filing.

Risk Assessment

Risk Level: low — AKAMAI TECHNOLOGIES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative disclosures, indicating a routine update.

Analyst Insight

Monitor future filings for trends in revenue, profitability, and any new strategic initiatives or market developments impacting Akamai's business.

Key Numbers

• 2024-05-09 — Filing Date (Date the 10-Q was filed)
• 2024-03-31 — Quarter End Date (End date of the reporting period)
• 2024 Q1 — Reporting Quarter (Identifies the fiscal quarter)
• 000-27275 — SEC File Number (Akamai's SEC file number)

Key Players & Entities

• AKAMAI TECHNOLOGIES INC (company) — Filer name
• 0001086222 (company) — Central Index Key
• 145 BROADWAY (company) — Business Address Street 1
• CAMBRIDGE (company) — Business Address City
• MA (company) — Business Address State
• 02142 (company) — Business Address ZIP
• DE (company) — State of Incorporation
• 2024-03-31 (date) — Conformed Period of Report

FAQ

Industry Context

Akamai Technologies operates in the content delivery network (CDN) and cloud security space, providing services that accelerate and secure the delivery of online content and applications.

Regulatory Implications

Companies like Akamai are subject to various SEC regulations regarding financial reporting and disclosure, including the timely filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare Q1 2024 results with previous quarters and the same period last year to identify performance trends.
3. Analyze any new risk factors or legal proceedings disclosed in the filing.

Key Dates

• 2024-05-09: 10-Q Filing — Filing of the quarterly report for Q1 2024
• 2024-03-31: Quarter End — End of the reporting period for the 10-Q

Year-Over-Year Comparison

This filing is the first 10-Q for the fiscal year 2024, following the 10-K filed for the fiscal year ended December 31, 2023.

Key Financial Figures

• $0.01 — ch registered Common Stock - par value $0.01 per share AKAM Nasdaq Global Select Ma
• $1,000 — y period in which the trading price per $1,000 principal amount of the respective Note

Filing Documents

• akam-20240331.htm (10-Q) — 1279KB
• akam10q3312024ex311.htm (EX-31.1) — 10KB
• akam10q3312024ex312.htm (EX-31.2) — 10KB
• akam10q3312024ex321.htm (EX-32.1) — 5KB
• akam10q3312024ex322.htm (EX-32.2) — 5KB
• 0001086222-24-000148.txt (&nbsp;) — 6401KB
• akam-20240331.xsd (EX-101.SCH) — 41KB
• akam-20240331_cal.xml (EX-101.CAL) — 68KB
• akam-20240331_def.xml (EX-101.DEF) — 177KB
• akam-20240331_lab.xml (EX-101.LAB) — 550KB
• akam-20240331_pre.xml (EX-101.PRE) — 383KB
• akam-20240331_htm.xml (XML) — 837KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets at March 3 1 , 202 4 and December 31, 202 3 3 Condensed Consolidated Statements of Income for the three months ended March 3 1 , 202 4 and 202 3 5 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 3 1 , 202 4 and 202 3 6 Condensed Consolidated Statements of Cash Flows for the three months ended M arch 3 1 , 202 4 and 20 2 3 7 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 202 4 and 20 23 9 Notes to Unaudited Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 38

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52

Other Information

Item 5. Other Information 53

Exhibits

Item 6. Exhibits 54

SIGNATURES

SIGNATURES 55 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) AKAMAI TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 467,717 $ 489,468 Marketable securities 1,206,971 374,971 Accounts receivable, net of reserves of $ 2,775 and $ 3,469 at March 31, 2024, and December 31, 2023, respectively 716,638 724,302 Prepaid expenses and other current assets 233,853 216,114 Total current assets 2,625,179 1,804,855 Marketable securities 582,023 1,431,354 Property and equipment, net 1,864,307 1,825,944 Operating lease right-of-use assets 947,049 908,634 Acquired intangible assets, net 512,554 536,143 Goodwill 2,846,535 2,850,470 Deferred income tax assets 430,428 418,297 Other assets 127,531 124,340 Total assets $ 9,935,606 $ 9,900,037 3 Table of Contents AKAMAI TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS, continued (in thousands, except share data) (unaudited) March 31, 2024 December 31, 2023 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 134,677 $ 146,927 Accrued expenses 291,986 352,181 Deferred revenue 142,527 107,544 Operating lease liabilities 232,731 222,944 Other current liabilities 7,017 6,442 Total current liabilities 808,938 836,038 Deferred revenue 20,929 23,006 Deferred income tax liabilities 24,977 24,622 Convertible senior notes 3,540,120 3,538,229 Operating lease liabilities 800,107 774,806 Other liabilities 106,768 106,181 Total liabilities 5,301,839 5,302,882 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.01 par value; 5,000,000 shares authorized; 700,000 shares designated as Series A Junior Participating Preferred Stock; no shares issued or outstanding — — Common stock, $ 0.01 par value; 700,000,000 shares authorized; 153,553,975 shares issued and 152,411,363 shares outstanding at March 31, 2024, and 151,232,908 shares issued an

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View this 10-Q filing on SEC EDGAR