Adobe Inc. Files Q3 2024 10-Q with Financial Details

TL;DR

Adobe's Q3 2024 10-Q is in, check subscription and product revenue for the latest numbers.

AI Summary

Adobe Inc. filed its 10-Q for the period ending August 30, 2024. The filing details financial performance, including subscription revenue and product revenue, for the third quarter of fiscal year 2024. Key financial figures and operational data are presented for comparison with previous periods.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Adobe Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate or unusual risk factors highlighted.

Key Numbers

• 5,779 — Shares (Indicates share count, likely for outstanding shares or shares related to a specific transaction.)

Key Players & Entities

• ADOBE INC. (company) — Filer of the 10-Q
• 2024-08-30 (date) — End of the reporting period
• 2024-09-25 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share ADBE NASDAQ _____

Filing Documents

• adbe-20240830.htm (10-Q) — 1724KB
• adbe10qq324unofficialpdf.pdf (10-Q) — 369KB
• adbeex311q324.htm (EX-31.1) — 11KB
• adbeex312q324.htm (EX-31.2) — 11KB
• adbeex321q324.htm (EX-32.1) — 7KB
• adbeex322q324.htm (EX-32.2) — 7KB
• 0000796343-24-000208.txt ( ) — 8963KB
• adbe-20240830.xsd (EX-101.SCH) — 48KB
• adbe-20240830_cal.xml (EX-101.CAL) — 68KB
• adbe-20240830_def.xml (EX-101.DEF) — 267KB
• adbe-20240830_lab.xml (EX-101.LAB) — 660KB
• adbe-20240830_pre.xml (EX-101.PRE) — 483KB
• adbe-20240830_htm.xml (XML) — 1344KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements: 3 Condensed Consolidated Balance Sheets August 3 0 , 2024 and December 1, 2023 3 Condensed Consolidated Statements of Income Three and Nin e Months Ended August 3 0 , 2024 and September 1 , 2023 4 Condensed Consolidated Statements of Comprehensive Income Three and Nine Months Ended A ugust 3 0 , 2024 and September 1 , 2023 5 Condensed Consolidated Statements of Stockholders' Equity Three and Nine Months Ended August 30 , 2024 and September 1 , 2023 6 Condensed Consolidated Statements of Cash Flows Nine Months Ended August 3 0 , 2024 and September 1 , 2023 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 39

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52 Item 5. Other Information 52 Item 6. Exhibits 53 Signature 54 Summary of Trademarks 55 2 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ADOBE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except par value) August 30, 2024 December 1, 2023 (Unaudited) (*) ASSETS Current assets: Cash and cash equivalents $ 7,193 $ 7,141 Short-term investments 322 701 Trade receivables, net of allowances for doubtful accounts of $ 17 and $ 16 , respectively 1,802 2,224 Prepaid expenses and other current assets 1,399 1,018 Total current assets 10,716 11,084 Property and equipment, net 1,969 2,030 Operating lease right-of-use assets, net 368 358 Goodwill 12,814 12,805 Other intangibles, net 858 1,088 Deferred income taxes 1,548 1,191 Other assets 1,557 1,223 Total assets $ 29,830 $ 29,779 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade payables $ 318 $ 314 Accrued expenses 1,848 1,942 Debt 1,499 — Deferred revenue 5,779 5,837 Income taxes payable 130 85 Operating lease liabilities 70 73 Total current liabilities 9,644 8,251 Long-term liabilities: Debt 4,128 3,634 Deferred revenue 127 113 Income taxes payable 585 514 Operating lease liabilities 381 373 Other liabilities 420 376 Total liabilities 15,285 13,261 Stockholders' equity: Preferred stock, $ 0.0001 par value; 2 shares authorized; none issued — — Common stock, $ 0.0001 par value; 900 shares authorized; 601 shares issued; 445 and 455 shares outstanding, respectively — — Additional paid-in capital 13,026 11,586 Retained earnings 36,911 33,346 Accumulated other comprehensive income (loss) ( 309 ) ( 285 ) Treasury stock, at cost ( 156 and 146 shares, respectively) ( 35,083 ) ( 28,129 ) Total stockholders' equity 14,545 16,518 Total liabilities and stockholders' equity $ 29,830 $ 29,779 _________________________________________ ( * ) The condensed consolidated balance sheet as of December 1, 2023 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes requ

View Full Filing

View this 10-Q filing on SEC EDGAR