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Adobe Inc. (ADBE)
CIK 796343 · fiscal year ends 11/27 · SIC 7372 Services-Prepackaged Software · numbers from SEC XBRL, no AI on this page
✓ A verified AI earnings note is available for ADBE.
Key metrics
| Metric | FY2024 Q4 2024-11-29 | FY2025 Q1 2025-02-28 | FY2025 Q2 2025-05-30 | FY2025 Q3 2025-08-29 | FY2025 Q4 2025-11-28 | FY2026 Q1 2026-02-27 | FY2026 Q2 2026-05-29 | FY2026 Q3 2026-08-28 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.61Bᵈ | $5.71B | $5.87B | $5.99B | $6.19Bᵈ | $6.40B | $6.62B | $6.76B |
| Gross profit | $4.99Bᵈ | $5.09B | $5.24B | $5.35B | $5.54Bᵈ | $5.73B | $5.90B | $6.00B |
| Operating income | $1.96Bᵈ | $2.16B | $2.11B | $2.17B | $2.26Bᵈ | $2.42B | $2.24B | $2.35B |
| Net income | $1.68Bᵈ | $1.81B | $1.69B | $1.77B | $1.86Bᵈ | $1.89B | $1.71B | $1.83B |
| Diluted EPS | — | $4.14 | $3.94 | $4.18 | — | $4.60 | $4.25 | $4.62 |
| Operating cash flow | $2.92Bᵈ | $2.48B | $2.19Bᵈ | $2.20Bᵈ | $3.16Bᵈ | $2.96B | $2.17Bᵈ | $2.52Bᵈ |
| Capital expenditures | $48.0Mᵈ | $26.0M | $47.0Mᵈ | $72.0Mᵈ | $34.0Mᵈ | $37.0M | $58.0Mᵈ | $85.0Mᵈ |
| Free cash flow (OCF − capex) | $2.87Bᵈ | $2.46Bᵈ | $2.14Bᵈ | $2.13Bᵈ | $3.13Bᵈ | $2.92Bᵈ | $2.11Bᵈ | $2.44Bᵈ |
| R&D expense | $999.0Mᵈ | $1.03B | $1.08B | $1.09B | $1.10Bᵈ | $1.11B | $1.20B | $1.29B |
| Sales & marketing expense | $1.54Bᵈ | $1.50B | $1.63B | $1.64B | $1.73Bᵈ | $1.71B | $1.88B | $1.83B |
| Stock-based compensation | $441.0Mᵈ | $475.0M | $481.0Mᵈ | $497.0Mᵈ | $489.0Mᵈ | $509.0M | $534.0Mᵈ | $539.0Mᵈ |
| Deferred revenue | $6.26B | $6.49B | $6.33B | $6.53B | $7.03B | $7.37B | $7.25B | $7.20B |
| Remaining performance obligations | $19.96B | $19.69B | $19.69B | $20.44B | $22.52B | $22.22B | $22.27B | $22.16B |
ᵈ derived (Q4 = full year − 9-month YTD; cash-flow quarters from year-to-date totals) · ʳ restated: latest filed value shown · ᵖ current portion only. Hover a number for its XBRL concept.
Growth
| Metric | FY2024 Q4 | FY2025 Q1 | FY2025 Q2 | FY2025 Q3 | FY2025 Q4 | FY2026 Q1 | FY2026 Q2 | FY2026 Q3 |
|---|---|---|---|---|---|---|---|---|
| Revenue YOY | +11.1% | +10.3% | +10.6% | +10.7% | +10.5% | +12.0% | +12.7% | +12.9% |
| Revenue QOQ | +3.7% | +1.9% | +2.8% | +2.0% | +3.4% | +3.3% | +3.4% | +2.1% |
| Gross profit YOY | +13.0% | +10.9% | +11.1% | +10.1% | +11.1% | +12.6% | +12.8% | +12.2% |
| Gross profit QOQ | +2.8% | +2.0% | +2.8% | +2.1% | +3.7% | +3.4% | +2.9% | +1.6% |
| Operating income YOY | +12.3% | +138.5% | +11.9% | +9.1% | +15.5% | +11.8% | +6.1% | +8.3% |
| Operating income QOQ | -1.8% | +10.5% | -2.5% | +3.0% | +4.0% | +6.9% | -7.4% | +5.2% |
| Net income YOY | +13.5% | +192.1% | +7.5% | +5.2% | +10.3% | +4.3% | +1.2% | +3.1% |
| Net income QOQ | -0.1% | +7.6% | -6.6% | +4.8% | +4.7% | +1.8% | -9.4% | +6.7% |
| Diluted EPS YOY | — | +204.4% | +12.9% | +11.2% | — | +11.1% | +7.9% | +10.5% |
| Diluted EPS QOQ | — | — | -4.8% | +6.1% | — | — | -7.6% | +8.7% |
| Operating cash flow YOY | +82.9% | +111.4% | +12.9% | +8.8% | +8.2% | +19.2% | -1.2% | +14.8% |
| Operating cash flow QOQ | +44.5% | -15.0% | -11.7% | +0.3% | +43.8% | -6.4% | -26.8% | +16.5% |
| Free cash flow (OCF − capex) YOY | +85.4% | +116.0% | +12.9% | +8.2% | +8.8% | +18.9% | -1.7% | +14.7% |
| Free cash flow (OCF − capex) QOQ | +46.3% | -14.5% | -12.7% | -0.8% | +47.0% | -6.6% | -27.9% | +15.7% |
| Deferred revenue YOY | +5.2% | +6.2% | +11.2% | +10.5% | +12.3% | +13.6% | +14.5% | +10.3% |
| Deferred revenue QOQ | +5.9% | +3.7% | -2.5% | +3.2% | +7.7% | +4.8% | -1.6% | -0.7% |
| Remaining performance obligations YOY | +15.9% | +12.0% | +10.2% | +12.7% | +12.8% | +12.8% | +13.1% | +8.4% |
| Remaining performance obligations QOQ | +10.0% | -1.4% | +0.0% | +3.8% | +10.2% | -1.3% | +0.2% | -0.5% |
Margins
| Margin | FY2024 Q4 | FY2025 Q1 | FY2025 Q2 | FY2025 Q3 | FY2025 Q4 | FY2026 Q1 | FY2026 Q2 | FY2026 Q3 |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 89.0% | 89.1% | 89.1% | 89.3% | 89.5% | 89.6% | 89.2% | 88.7% |
| Operating margin | 34.9% | 37.9% | 35.9% | 36.3% | 36.5% | 37.8% | 33.8% | 34.8% |
| Net margin | 30.0% | 31.7% | 28.8% | 29.6% | 30.0% | 29.5% | 25.9% | 27.0% |
| FCF margin | 51.2% | 43.0% | 36.5% | 35.5% | 50.5% | 45.7% | 31.8% | 36.1% |
| R&D % of revenue | 17.8% | 18.0% | 18.4% | 18.2% | 17.7% | 17.3% | 18.1% | 19.1% |
| S&M % of revenue | 27.4% | 26.2% | 27.7% | 27.4% | 27.9% | 26.7% | 28.5% | 27.0% |
| SBC % of revenue | 7.9% | 8.3% | 8.2% | 8.3% | 7.9% | 8.0% | 8.1% | 8.0% |
Source filings
| Quarter | Calendar | Period end | Form | Filed | Filing | Earnings 8-K |
|---|---|---|---|---|---|---|
| FY2026 Q3 | CY2026 Q3 | 2026-08-28 | 10-Q | 2026-09-22 | open | open |
| FY2026 Q2 | CY2026 Q2 | 2026-05-29 | 10-Q | 2026-06-15 | open | open |
| FY2026 Q1 | CY2026 Q1 | 2026-02-27 | 10-Q | 2026-03-25 | open | open |
| FY2025 Q4 | CY2025 Q4 | 2025-11-28 | 10-K | 2026-01-15 | open | open |
| FY2025 Q3 | CY2025 Q3 | 2025-08-29 | 10-Q | 2025-09-24 | open | open |
| FY2025 Q2 | CY2025 Q2 | 2025-05-30 | 10-Q | 2025-06-25 | open | open |
| FY2025 Q1 | CY2025 Q1 | 2025-02-28 | 10-Q | 2025-03-26 | open | open |
| FY2024 Q4 | CY2024 Q4 | 2024-11-29 | 10-K | 2025-01-13 | open | open |