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.

Subscription

Subscription %Chg

Subscription Common Size

Product

Product %Chg

Product Common Size

Services and Support

Services and Support %Chg

Services and Support Common Size

Services and Other

Services and Other %Chg

Services and Other Common Size

Total Revenue

Total Revenue %Chg

Total Revenue Common Size

Total Cost of Revenue

Total Cost of Revenue %Chg

Total Cost of Revenue Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Research and Development

Research and Development %Chg

Research and Development Common Size

Sales and Marketing

Sales and Marketing %Chg

Sales and Marketing Common Size

General and Administrative

General and Administrative %Chg

General and Administrative Common Size

Acquisition Termination Fee

Acquisition Termination Fee %Chg

Acquisition Termination Fee Common Size

Amortization of Intangibles

Amortization of Intangibles %Chg

Amortization of Intangibles Common Size

Total Operating Expenses

Total Operating Expenses %Chg

Total Operating Expenses Common Size

Operating Income

Operating Income %Chg

Operating Income Common Size

Interest Expense

Interest Expense %Chg

Interest Expense Common Size

Investment Gains, Net

Investment Gains, Net %Chg

Investment Gains, Net Common Size

Other Income, Net

Other Income, Net %Chg

Other Income, Net Common Size

Total Non-Operating Income, Net

Total Non-Operating Income, Net %Chg

Total Non-Operating Income, Net Common Size

Income Before Income Taxes

Income Before Income Taxes %Chg

Income Before Income Taxes Common Size

Provision for Income Taxes

Provision for Income Taxes %Chg

Provision for Income Taxes Common Size

Net Income

Net Income %Chg

Net Income Common Size

Basic Net Income per Share

Basic Net Income per Share %Chg

Basic Net Income per Share Common Size

Shares Used to Compute Basic Net Income per Share

Shares Used to Compute Basic Net Income per Share %Chg

Shares Used to Compute Basic Net Income per Share Common Size

Diluted Net Income per Share

Diluted Net Income per Share %Chg

Diluted Net Income per Share Common Size

Shares Used to Compute Diluted Net Income per Share

Shares Used to Compute Diluted Net Income per Share %Chg

Shares Used to Compute Diluted Net Income per Share Common Size

Total Revenues

Total Revenues %Chg

Total Revenues Common Size

Cost of Sales

Cost of Sales %Chg

Cost of Sales Common Size

Gross Profit Margin

Gross Profit Margin %Chg

Gross Profit Margin Common Size

Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

Selling, General & Administrative Expenses Common Size

Depreciation & Amortization Expenses

Depreciation & Amortization Expenses %Chg

Depreciation & Amortization Expenses Common Size

Research & Development Expenses

Research & Development Expenses %Chg

Research & Development Expenses Common Size

Other Operating Expenses

Other Operating Expenses %Chg

Other Operating Expenses Common Size

Operating Profit

Operating Profit %Chg

Operating Profit Common Size

Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Non-Operating Income

Non-Operating Income %Chg

Non-Operating Income Common Size

Total Non-Operating Income

Total Non-Operating Income %Chg

Total Non-Operating Income Common Size

Income Before Provision for Income Taxes

Income Before Provision for Income Taxes %Chg

Income Before Provision for Income Taxes Common Size

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Nov '25	May '25	Nov '24	May '24	Dec '23	Jun '23
Total Revenues	12,182	11,587	11,014	10,491	9,938	9,471
Total Revenues %Chg	10.6%	10.4%	10.8%	10.8%	10.9%	9.5%
Subscription
Product
Services and Support
Services and Other
Cost of Sales	1,291	1,260	1,170	1,188	1,214	1,140
Subscription
Product
Services and Support
Services and Other
Gross Profit	10,891	10,327	9,844	9,303	8,724	8,331
Gross Profit
Gross Profit Margin	89.4%	89.1%	89.4%	88.7%	87.8%	88%
Selling, General & Administrative Expenses	4,196	3,865	3,789	3,504	3,430	3,334
Sales and Marketing
General and Administrative
Depreciation & Amortization Expenses	75	82	85	84	84	84
Amortization of Intangibles
Research & Development Expenses	2,186	2,108	2,021	1,923	1,770	1,703
Research and Development
Other Operating Expenses	—	—	—	1,000	—	—
Acquisition Termination Fee
Operating Profit	4,434	4,272	3,949	2,792	3,440	3,210
Operating Income
Operating Margin	36.4%	36.9%	35.9%	26.6%	34.6%	33.9%
Interest Expense	-133	-130	-101	-68	-55	-58
Interest Expense
Non-Operating Income	150	141	185	174	166	96
Investment Gains, Net
Other Income, Net
Total Non-Operating Income	17	11	84	106	111	38
Income Before Provision for Income Taxes	4,451	4,283	4,033	2,898	3,551	3,248
Income Before Income Taxes
Provision for Income Taxes	823	781	666	705	665	706
Provision for Income Taxes
Consolidated Net Income	3,628	3,502	3,367	2,193	2,886	2,542
Net Income Attributable to Common Shareholders	3,628	3,502	3,367	2,193	2,886	2,542
Net Income
Basic EPS	8.6	8.1	7.6	4.9	6.3	5.6
Diluted EPS	8.6	8.1	7.5	4.8	6.3	5.5
Basic Weighted Average Shares Outstanding	419.8	432.2	443.1	450.9	455.8	458.4
Total Shares Outstanding	418.6	427	441	449	455	456
Diluted Weighted Average Shares Outstanding	420.8	433.2	446.1	453.9	459.1	459.1
EBITDA	4,826	4,698	4,380	3,218	3,880	3,642
Effective Tax Rate	18.5%	18.2%	16.5%	24.3%	18.7%	21.7%