Adobe 8-K
PositiveEarningsGuidance raised
AI-first ARR grew >150% Y/Y; Adobe raised FY2026 revenue and EPS targets.
Filed 2026-09-10 16:06 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 FY2026 results with Q4 and updated FY2026 targets. Adobe reported record revenue of $6.76B, up 13% Y/Y, and raised its FY2026 revenue and EPS targets. Adobe AI-first ARR grew more than 150% Y/Y, and monthly active users across its creativity and productivity solutions exceeded 1B.
Key Figures
| Metric | Q3 2026 | Q3 2025 | Y/Y |
|---|---|---|---|
| Revenue | $6.76B | $5.99B | 12.9% |
| Operating income, GAAP | $2.35B | $2.17B | 8.33% |
| Operating income, non-GAAP | $2.97B | $2.77B | 7.25% |
| Net income, GAAP | $1.83B | $1.77B | 3.10% |
| Net income, non-GAAP | $2.42B | $2.25B | 7.63% |
| Diluted EPS, GAAP | $4.62 | $4.18 | 11% |
| Diluted EPS, non-GAAP | $6.13 | $5.31 | 15.4% |
| Operating cash flow | $2.52B | $2.20B | 14.8% |
- Subscription revenue was $6.58B, up 14% Y/Y; customer-group subscription revenue was $6.56B, up 14% (13% in constant currency). Business Professionals & Consumers subscription revenue was $1.91B, up 16%; Creative & Marketing Professionals was $4.65B, up 13%.
- Ending ARR was $27.50B; remaining performance obligations were $22.16B, with current remaining performance obligations at 67%.
- Adobe repurchased 9.5M shares for $2.23B; diluted weighted-average shares were 395M vs 424M, down 6.8% Y/Y. Cash was $4.36B vs $5.43B at FY2025 year-end; total debt carrying value was $6.36B vs $6.21B.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Total revenue | Q4 FY2026 | $6.8B-$6.85B | — | — |
| Business Professionals & Consumers subscription revenue | Q4 FY2026 | $1.93B-$1.95B | — | — |
| Creative & Marketing Professionals subscription revenue | Q4 FY2026 | $4.665B-$4.695B | — | — |
| Diluted EPS, GAAP | Q4 FY2026 | $4.65-$4.70 | — | — |
| Diluted EPS, non-GAAP | Q4 FY2026 | $6.30-$6.35 | — | — |
| Non-GAAP operating margin | Q4 FY2026 | ≈44.0% | — | — |
| Effective tax rate, GAAP | Q4 FY2026 | ≈22.0% | — | — |
| Effective tax rate, non-GAAP | Q4 FY2026 | ≈18.0% | — | — |
| Diluted share count | Q4 FY2026 | ≈389M | — | — |
| Total revenue | FY2026 | $26.576B-$26.626B | — | Raised |
| Business Professionals & Consumers subscription revenue | FY2026 | $7.47B-$7.49B | — | — |
| Creative & Marketing Professionals subscription revenue | FY2026 | $18.242B-$18.272B | — | — |
| Total Adobe ending ARR growth | FY2026 | 10.2% Y/Y | — | — |
| Diluted EPS, GAAP | FY2026 | $18.12-$18.17 | — | Raised |
| Diluted EPS, non-GAAP | FY2026 | $24.45-$24.50 | — | Raised |
| Non-GAAP operating margin | FY2026 | ≈45.0% | — | — |
| Effective tax rate, GAAP | FY2026 | ≈22.5% | — | — |
| Effective tax rate, non-GAAP | FY2026 | ≈18.0% | — | — |
| Diluted share count | FY2026 | ≈400M | — | — |
Investor Takeaways
- Q4 revenue and GAAP and non-GAAP EPS versus their target ranges will indicate progress toward the raised FY2026 revenue and EPS targets.
- Watch whether AI-first ARR growth and user reach continue alongside the subscription revenue growth Adobe reported this quarter.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3