Adobe Inc. Files 2024 10-K Report

TL;DR

Adobe's 2024 10-K is in. Full financials for the year ending Nov 29, 2024, are now public.

AI Summary

Adobe Inc. filed its 2024 10-K report on January 13, 2025, detailing its fiscal year ending November 29, 2024. The company, headquartered at 345 Park Ave, San Jose, CA, operates in the pre-packaged software services sector. Key financial data and business operations for the fiscal year are outlined in this comprehensive filing.

Why It Matters

This filing provides investors and analysts with a detailed overview of Adobe's financial performance and strategic positioning for the fiscal year 2024, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a publicly traded company, providing routine disclosures.

Key Numbers

• 2024-11-29 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2025-01-13 — Filing Date (The date Adobe Inc. submitted its 10-K to the SEC.)

Key Players & Entities

• Adobe Inc. (company) — Filer of the 10-K report
• 345 Park Ave, San Jose, CA 95110-2704 (location) — Business and mailing address
• 2024-11-29 (date) — Fiscal year end date
• 2025-01-13 (date) — Filing date of the 10-K

FAQ

Key Financial Figures

• $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share ADBE NASDAQ Secur

Filing Documents

• adbe-20241129.htm (10-K) — 2349KB
• adbe10kfy24unofficialpdf.pdf (10-K) — 589KB
• adbeex102hfy24.htm (EX-10.2H) — 118KB
• adbeex102ify24.htm (EX-10.2I) — 114KB
• adbeex1010fy24.htm (EX-10.10) — 17KB
• adbeex191fy24.htm (EX-19.1) — 62KB
• adbeex211fy24.htm (EX-21.1) — 41KB
• adbeex231fy24.htm (EX-23.1) — 3KB
• adbeex311fy24.htm (EX-31.1) — 11KB
• adbeex312fy24.htm (EX-31.2) — 12KB
• adbeex321fy24.htm (EX-32.1) — 7KB
• adbeex322fy24.htm (EX-32.2) — 8KB
• 0000796343-25-000004.txt ( ) — 13289KB
• adbe-20241129.xsd (EX-101.SCH) — 71KB
• adbe-20241129_cal.xml (EX-101.CAL) — 112KB
• adbe-20241129_def.xml (EX-101.DEF) — 381KB
• adbe-20241129_lab.xml (EX-101.LAB) — 929KB
• adbe-20241129_pre.xml (EX-101.PRE) — 695KB
• adbe-20241129_htm.xml (XML) — 1964KB

Risk Factors

Item 1A. Risk Factors 23

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 35

Properties

Item 2. Properties 36

Legal Proceedings

Item 3. Legal Proceedings 36

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 37 Item 6. [Reserved] 37

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 51

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 53

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 93

Controls and Procedures

Item 9A. Controls and Procedures 93

Other Information

Item 9B. Other Information 93

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 93 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 94

Executive Compensation

Item 11. Executive Compensation 94

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 94

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 94

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 94 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 95

Form 10-K Summary

Item 16. Form 10-K Summary 97

Signatures

Signatures 98 Summary of Trademarks 100 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements In addition to historical information, this Annual Report on Form 10-K contains "forward-looking statements" within the meaning of applicable securities laws, including statements related to our product development plans and new or enhanced offerings; our business, artificial intelligence and innovation momentum; our strategy, market opportunity and future growth; market trends; current macroeconomic conditions; fluctuations in foreign currency exchange rates; strategic investments; industry positioning; and customer acquisition and retention. In addition, when used in this report, the words "will," "expects," "could," "would," "may," "anticipates," "intends," "plans," "believes," "seeks," "targets," "estimates," "looks for," "looks to," "continues" and similar expressions, as well as statements regarding our focus for the future, are generally intended to identify forward-looking statements. Each of the forward-looking statements we make in this report involves risks, uncertainties and assumptions based on information available to us as of the date of this report. Such risks and uncertainties, many of which relate to matters beyond our control, could cause actual results to differ materially and adversely from these forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the section titled "Risk Factors" in Part I, Item 1A of this report and elsewhere herein. The risks described herein and in Adobe's other filings with the U.S. Securities and Exchange Commission (the "SEC"), including our Quarterly Reports on Form 10-Q to be filed in fiscal 2025, should be carefully reviewed. Undue reliance should not be placed on the financial information set forth in this report, which reflects estimates based on information available as of the date of this report. Adobe assumes no obligation to, and does not currently intend to, update these forward-looking statements.

BUSINESS

ITEM 1. BUSINESS OVERVIEW Adobe is a global technology company with a mission to change the world through personalized digital experiences. For over four decades, Adobe's innovations have transformed how individuals, teams, businesses, enterprises, institutions, and governments engage and interact across all types of media. Our products, services and solutions are used around the world to imagine, create, manage, deliver, measure, optimize and engage with content across surfaces and fuel digital experiences. We have a diverse user base that includes consumers, communicators, creative professionals, developers, students, small and medium businesses and enterprises. We are also empowering creators by putting the power of artificial intelligence ("AI") in their hands, and doing so in ways we believe are responsible. Our products and services help unleash creativity, accelerate document productivity and power businesses in a digital world. OFFERINGS We deliver a wide range of products, services and solutions to empower our customers and users to imagine and express ideas, create content and bring any digital experience to life. We focus our strategic investments in two areas of growth: Digital Media. We provide products, services and solutions that enable individuals, teams, businesses, enterprises, institutions, and governments to create, publish and promote their content anywhere, and accelerate their productivity by transforming how they view, share, engage with and collaborate on documents and content creation. Our Digital Media segment is centered around Adobe Creative Cloud and Adobe Document Cloud, which include Adobe Photoshop, Adobe Illustrator, Adobe Lightroom, Adobe Premiere Pro, Adobe Acrobat, Adobe Acrobat Sign, Adobe Express, Adobe Firefly and many more products, offering a variety of tools for creative professionals (like photographers, graphic designers, video editors and game developers), communicators and other consumers. This is the core of what

View Full Filing

View this 10-K filing on SEC EDGAR