Adobe Inc. operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform. Its flagship product is Creative Cloud, a subscription service that allows members to access its creative products. This segment serves content creators, workers, marketers, educators, enthusiasts, communicators, and consumers. The Digital Experience segment provides an integrated platform and set of applications and services that enable brands and businesses to create, manage, execute, measure, monetize, and optimize customer experiences from analytics to commerce. This segment serves marketers, advertisers, agencies, publishers, merchandisers, merchants, web analysts, data scientists, developers, and executives across the C-suite. The Publishing and Advertising segment offers products and services, such as e-learning solutions, technical document publishing, web conferencing, document and forms platform, web application development, and high-end printing, as well as Advertising Cloud offerings. The company offers its products and services directly to enterprise customers through its sales force and local field offices, as well as to end users through app stores and through its website at adobe.com. It also distributes products and services through a network of distributors, value-added resellers, systems integrators, software vendors and developers, retailers, and original equipment manufacturers. The company was formerly known as Adobe Systems Incorporated and changed its name to Adobe Inc. in October 2018. Adobe Inc. was founded in 1982 and is headquartered in San Jose, California.

Adobe Inc.

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Revenue

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Income Statement	Nov '25	Aug '25	May '25	Feb '25	Nov '24	Aug '24
Total Revenues	23,769	23,181	22,601	22,037	21,505	20,947
Total Revenues %Chg	10.5%	10.7%	10.6%	10.5%	10.8%	10.9%
Subscription
Product
Services and Support
Services and Other
Cost of Sales	2,551	2,518	2,430	2,390	2,358	2,376
Subscription
Product
Services and Support
Services and Other
Gross Profit	21,218	20,663	20,171	19,647	19,147	18,571
Gross Profit
Gross Profit Margin	89.3%	89.1%	89.2%	89.2%	89%	88.7%
Selling, General & Administrative Expenses	8,061	7,904	7,654	7,451	7,293	7,041
Sales and Marketing
General and Administrative
Depreciation & Amortization Expenses	157	162	167	168	169	169
Amortization of Intangibles
Research & Development Expenses	4,294	4,195	4,129	4,031	3,944	3,834
Research and Development
Other Operating Expenses	—	—	—	—	1,000	1,000
Acquisition Termination Fee
Operating Profit	8,706	8,402	8,221	7,997	6,741	6,527
Operating Income
Operating Margin	36.6%	36.2%	36.4%	36.3%	31.3%	31.2%
Interest Expense	-263	-247	-231	-204	-169	-147
Interest Expense
Non-Operating Income	291	306	326	352	359	368
Investment Gains, Net
Other Income, Net
Total Non-Operating Income	28	59	95	148	190	221
Income Before Provision for Income Taxes	8,734	8,461	8,316	8,145	6,931	6,748
Income Before Income Taxes
Provision for Income Taxes	1,604	1,504	1,447	1,394	1,371	1,388
Provision for Income Taxes
Consolidated Net Income	7,130	6,957	6,869	6,751	5,560	5,360
Net Income Attributable to Common Shareholders	7,130	6,957	6,869	6,751	5,560	5,360
Net Income
Basic EPS	16.7	16.1	15.7	15.2	12.4	11.9
Diluted EPS	16.7	16	15.6	15.2	12.4	11.8
Basic Weighted Average Shares Outstanding	426	432.1	437.6	442.8	447	450.5
Total Shares Outstanding	418.6	420	427	435	441	445
Diluted Weighted Average Shares Outstanding	427	433.4	439.4	445	450	453.7
EBITDA	9,524	9,254	9,078	8,859	7,598	7,388
Effective Tax Rate	18.4%	17.8%	17.4%	17.1%	19.8%	20.6%