Alphabet Inc.

Company facts

Industry

Services-Computer Programming, Data Processing, Etc.

Headquarters

Mountain View, California

Most recent report

8-K, filed Nov 5, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1652044

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 11 sections worth reading, with 1 positive, 21 notable, and 6 negative flags.

• Financial Statements (Item 1)

  Massive balance-sheet and capital-structure changes: debt, equity, preferred, and huge commitments.
  Notable

  • Revenue backlog of $567.7B, with $560.8B from Google Cloud; $16.8B from Crux AI related party.
  • Marketable equity securities include $75.2B of SpaceX shares with short-term sale restrictions.
  • Formed Crux AI JV with Blackstone; Blackstone commits up to $5B, Alphabet backstops up to $10B.
  • Non-marketable equity securities carrying value doubled to $128.2B, mostly one private company.
  • Future lease payments not yet commenced of $130.5B, primarily for data centers and energy infrastructure.
  • Issued $45B US dollar notes and $35.8B foreign notes in 2026 for general corporate purposes.
  • Acquired Wiz for $29.5B and Intersect for $5.9B in March 2026, adding $22.7B and $2.2B goodwill.
  • GFiber held for sale; expects $1.5B cash, $2B note, and 49.99% equity interest upon closing in late 2026.
  • Financial guarantees of $16.2B for counterparty procurement of long-lead-time energy equipment.
  • Antitrust fines paid or accrued: $5.2B Android fine paid July 2026; $3.5B accrued for EC ad tech fine; $1.0B for DMA fines.
  • PriceRunner awarded ~$2.1B in damages in July 2026; Alphabet recognized the charge and is appealing.
  • Raised $20.5B in public offering and $10B private placement to Berkshire Hathaway in June 2026.
  • Issued $19B of 6.25% mandatory convertible preferred stock, convertible to common in May 2029.
  • Stock-based compensation rose to $23.9B for nine months, up from $17.9B; unrecognized cost of $61.8B.
  Negative

  • Waymo entered a $5B secured term loan at SOFR+5.25%, not guaranteed by Alphabet.
  • Total contractual commitments of $802.1B, mostly long-term supply agreements for technical infrastructure.
  • New $40B ATM program; $27.6B remained available as of Sep 30, 2026.

• Management's Discussion (Item 2)

  Massive capital raise, $924B commitments, Waymo debt, EC fine paid, Cloud revenue doubled.
  Positive

  • Google Cloud revenue doubled to $30.7B in Q3 2026, up 103% YoY, driven by infrastructure and TPU sales.
  Notable

  • No share repurchases in Q3 2026; $69.5B remaining from $70B authorization, a sharp slowdown.
  • Accrued legal and regulatory fines of $13.8B as of September 30, 2026, and long-term taxes payable of $12.2B.
  • Contingent commitments of $75.7B for data center backstops, including $10B with related party Crux AI.
  Negative

  • Capital expenditures surged to $132B in 9M 2026, more than double the $63.6B in 9M 2025, straining cash flow.

• Legal Proceedings (Item 1)

  Cross-references Note 10 for material legal proceedings; must check for new risks.
  Notable

  • Section cross-references Note 10 for legal proceedings; no details here, so check Note 10 for updates.

• Risk Factors (Item 1A)

  New quantified risks: $40B ATM, AI agent failures, DOJ antitrust remedies, preferred stock dilution.
  Notable

  • Significant long-term supply, energy, and lease agreements with contingent commitments like backstops and guarantees.
  • AI agents may act outside scope, be exploited via prompt injection, or cause unauthorized actions.
  • AI agents may be vulnerable to prompt injection, adversarial manipulation, or novel attack vectors.
  Negative

  • DOJ antitrust lawsuits could force divestiture of ad-tech assets or alter search distribution, impairing revenue.
  • Mandatory convertible preferred dividends will diminish cash reserves or cause dilution if settled in shares.

What changed: Sep 2026 vs. Jun 2026

About 11% of GOOG's Sep 2026 10-Q is new information. 64 paragraphs were added, 194 changed, and 52 removed. Below are the most important lines SECSift identified.

• Item 1 90
• Item 2 72
• Item 1A 22
• Item 6 7
• Item 5 5
• Item 4 2