Every 10-Q that Adobe Inc. (ADBE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow ADBE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ADBE filings page.
Adobe Inc. reported solid Q2 fiscal 2026 growth with a subscription-heavy model and an AI- and marketing-focused strategy. Revenue rose to $6.62 billion, up 13% year over year, with subscription revenue at $6.42 billion, or 97% of total. Creative & Marketing Professionals subscription revenue grew 13% to $4.54 billion, while Business Professionals & Consumers rose 16% to $1.85 billion. Total Adobe Annualized Recurring Revenue reached $27.10 billion, up 12.5% from a year earlier, and remaining performance obligations climbed to $22.27 billion.
Net income was $1.71 billion for the quarter and $3.60 billion for the first six months, with diluted EPS of $4.25 in Q2. Operating cash flow for the first half increased 10% to $5.12 billion. Adobe completed the $1.87 billion acquisition of Semrush, adding $1.25 billion of goodwill and new intangibles, and recorded a $70 million goodwill impairment in its Publishing & Advertising unit. The company continued aggressive capital returns, repurchasing 16.6 million shares for $4.59 billion year to date, with $26.78 billion still authorized for future buybacks, while managing a $6.15 billion senior notes portfolio and introducing $500 million of commercial paper.
Adobe Inc. reported solid growth for the quarter ended February 27, 2026. Total revenue reached $6,398 million, up 12% year over year, driven by subscription revenue of $6,198 million, which rose 13% as more customers adopted its software and cloud services.
Net income increased to $1,889 million, a 4% rise, while operating cash flow grew 19% to $2,958 million, reflecting strong cash generation. Total Adobe annualized recurring revenue reached 26.06 billion, up 10.9%, and remaining performance obligations climbed to $22.22 billion, indicating a large base of contracted future revenue.
Adobe continued returning capital to shareholders, repurchasing 8.1 million shares for $2,478 million in the quarter under its ongoing stock buyback authorization. The company also noted a $62 million loss contingency related to a legal settlement, and highlighted progress on its agreement to acquire Semrush Holdings, Inc. for approximately $1.9 billion, subject to regulatory approvals and closing conditions.
Adobe Inc. reported continued subscription-led growth in its third quarter of fiscal 2025 with Digital Experience revenue of $1.48 billion (up 9% year-over-year) and subscription revenue of $1.37 billion (up 11% year-over-year). The company retains a large base of deferred revenue at $6.53 billion and significant contracted future revenue with remaining performance obligations of approximately $20.44 billion, about 67% of which is expected to be recognized within 12 months. Key balance sheet and operating items include trade receivables of about $2.09 billion, contract assets of $229 million, capitalized contract acquisition costs of $731 million, and goodwill of $12.86 billion. Adobe repurchased shares heavily, making payments totaling $8.81 billion in the nine months ended August 29, 2025, and has $8.40 billion remaining under its March 2024 repurchase authority. Risk items disclosed include ongoing DOJ litigation tied to ROSCA practices with indeterminate potential loss, a securities class action previously dismissed, sizable unrecognized stock-based compensation of $3.47 billion, and notable hedging activity including cash flow hedges with gross notional $5.48 billion and interest-rate swaps hedging $2.70 billion of fixed-rate debt. Management concluded disclosure controls were effective.
Adobe has filed its Q2 2025 10-Q report, highlighting continued performance across its core business segments. The filing reveals strong subscription revenue growth in both Digital Media and Digital Experience divisions.
Key financial highlights include:
- Sustained growth in subscription-based revenue streams across creative professional and business segments
- Geographic revenue diversification across Americas, EMEA, and Asia regions
- Robust cash and investment position with diversified portfolio including treasury securities, corporate debt, and money market funds
- Active hedging strategy through foreign exchange forwards and interest rate swaps
The company maintains a strong balance sheet with strategic investments in customer contracts and technology acquisitions. Fair value measurements indicate a well-structured investment approach with most assets classified under Level 1 and Level 2 categories, demonstrating high liquidity and reliable valuation methods.