Adobe Inc.

Company facts

Industry

Services-Prepackaged Software

Headquarters

San Jose, California

Most recent report

10-Q, filed Sep 22, 2026

Incorporated

Delaware

Filings on record

1,007+ filings

On EDGAR

CIK 796343

Fiscal year ends

November

Filer status

Large accelerated filer

What to read: Aug 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 7 positive, 6 notable, and 5 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with acquisition, impairment, and settlement detail.
  Notable

  • Completed Semrush acquisition for $1.87B on April 28, 2026, adding $1.25B goodwill.
  • Board authorized new $25B stock repurchase in April 2026, with $24.55B remaining.

• Management's Discussion (Item 2)

  MD&A with period-specific results, cost trends, impairment, buyback, and acquisition details.
  Positive

  • Creative sub rev +13% to $4.65B; Business sub rev +16% to $1.91B, both strong.
  • ARR grew 11.2% to $27.50B, above revenue growth, driven by Creative Cloud, Acrobat, and Experience Manager.
  • Revenue up 13% to $6.76B, driven by subscription strength across both customer groups.
  • Subscription revenue grew 14% to $6.58B, representing 97% of total revenue.
  • Net income up only 3% to $1.83B, as cost growth squeezed margins.
  • Cash from operations strong at $7.65B, up 11%, supporting buybacks and acquisitions.
  • RPO of $22.16B, up 8%, a forward indicator of subscription revenue growth.
  Notable

  • Acquiring Topaz Labs for ~$340M cash, an AI video/image model company, closing in Q4 2026.
  • $1.35B of senior notes reclassified as current debt due Feb/Apr 2027; company intends to refinance.
  Negative

  • Cost of revenue grew 19%, outpacing 13% revenue growth, mainly from hosting and data center costs.
  • Operating expenses grew 15%, also faster than revenue, led by R&D (+18%) and G&A (+20%).
  • Recorded goodwill impairment in Publishing & Advertising reporting unit during nine months.
  • Incurred loss contingencies from a legal settlement and other matters in the nine months.

• Risk Factors (Item 1A)

  Specific debt figures and a recorded goodwill impairment charge in Q2 2026.
  Notable

  • 52% of employees are located outside the US, significant international exposure.
  • $6.15B in notes, $250M commercial paper outstanding, $1.5B undrawn revolver as of August 28, 2026.
  Negative

  • Recorded a goodwill impairment charge for Publishing & Advertising in Q2 2026; a sign of asset write-down.

What changed: Aug 2026 vs. May 2026

About 4% of ADBE's Aug 2026 10-Q is new information. 19 paragraphs were added, 126 changed, and 14 removed. Below are the most important lines SECSift identified.

• Item 1 54
• Item 2 52
• Item 6 14
• Item 4 3
• Item 1A 3
• Item 3 1