Oracle Corp. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Oracle Corp. has submitted its quarterly report (10-Q) for the period ending February 29, 2024, detailing its financial performance and operational status.</b>

AI Summary

ORACLE CORP (ORCL-PD) filed a Quarterly Report (10-Q) with the SEC on March 12, 2024. Oracle Corp. filed a 10-Q report for the period ending February 29, 2024. The filing covers the third quarter of fiscal year 2024. Key dates include February 29, 2024, as the reporting period end. The company's business address is 2300 Oracle Way, Austin, TX 78741. Oracle Corp. is in the Services-Prepackaged Software industry (SIC 7372).

Why It Matters

For investors and stakeholders tracking ORACLE CORP, this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial data and disclosures for Oracle Corp., crucial for understanding the company's current health and future prospects. The specific details within this report will inform investment decisions, competitive analysis, and regulatory oversight of Oracle's operations in the cloud and software sectors.

Risk Assessment

Risk Level: medium — ORACLE CORP shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and disclosures, but lacks specific forward-looking guidance or significant event announcements that would drastically alter the risk profile.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to assess Oracle's revenue growth, profitability, and cloud adoption trends.

Key Numbers

• 2024-02-29 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-03-12 — Filing Date (FILED AS OF DATE)
• 7372 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 0531 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• ORACLE CORP (company) — FILER
• ORCL (company) — Ticker Symbol
• 2024-02-29 (date) — CONFORMED PERIOD OF REPORT
• 2024-03-12 (date) — FILED AS OF DATE
• 7372 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• 2300 ORACLE WAY (address) — BUSINESS ADDRESS STREET 1
• AUSTIN (location) — BUSINESS ADDRESS CITY
• TX (location) — BUSINESS ADDRESS STATE

FAQ

Industry Context

Oracle operates in the software and cloud services industry, a highly competitive and rapidly evolving sector driven by technological advancements and enterprise digital transformation.

Regulatory Implications

As a publicly traded company, Oracle is subject to SEC regulations, including the requirement to file quarterly (10-Q) and annual (10-K) reports detailing its financial condition and operations.

What Investors Should Do

1. Analyze Oracle's revenue streams, particularly growth in cloud services and license support, as detailed in the 10-Q.
2. Examine any disclosed restructuring charges or significant operational changes mentioned in the filing.
3. Assess Oracle's liquidity and debt position based on the balance sheet information provided in the report.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-12: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the standard quarterly update for Oracle Corp., providing financial data for the period ending February 29, 2024, following previous filings.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share 3.125% senior notes due Jul

Filing Documents

• orcl-20240229.htm (10-Q) — 2915KB
• orcl-ex31_01.htm (EX-31.01) — 17KB
• orcl-ex32_01.htm (EX-32.01) — 10KB
• 0000950170-24-029904.txt (&nbsp;) — 10101KB
• orcl-20240229.xsd (EX-101.SCH) — 1100KB
• orcl-20240229_htm.xml (XML) — 2045KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of February 29, 2024 and May 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended February 29, 2024 and February 28, 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended February 29, 2024 and February 28, 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months Ended February 29, 2024 and February 28, 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended February 29, 2024 and February 28, 2023 7 Notes to Condensed Consolidated Financial Statements 8 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 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 39 PART II. OTHER INFORMATION 40 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 40 Item 5. Other Information 41 Item 6. Exhibits 42

Signatures

Signatures 43 Table of Contents Cautionary Note on Forward-Looking Statements For purposes of this Quarterly Report on Form 10-Q (this Quarterly Report), the terms "Oracle," "we," "us" and "our" refer to Oracle Corporation and its consolidated subsidiaries. This Quarterly Report contains statements that are not historical in nature, are predictive in nature, or that depend upon or refer to future events or conditions or otherwise contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), and Section 27A of the Securities Act of 1933, as amended (the Securities Act). These include, among other things, statements regarding: our expectation that we may acquire, and realize the anticipated benefits of acquiring, companies, products, services and technologies to further our corporate strategy as compelling opportunities become available; our expectation that, on a constant currency basis, our total cloud and license revenues generally will continue to increase due to expected growth in our cloud services and continued demand for our cloud license and on-premise license and license support offerings; our expectation that substantially all of our customers will renew their license support contracts upon expiration; our expectation that our hardware business will have lower operating margins as a percentage of revenues than our cloud and license business; our expectation that we will continue to make significant investments in research and development, and our belief that research and development efforts are essential to maintaining our competitive position; our expectations regarding the financial performance and long-term potential of one of our investment companies; our expectation that our international operations will continue to provide a significant portion of our total revenues and expenses; our expectation that the proportion of our cloud services revenues relat

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financial St atements (Unaudited)

Item 1. Financial St atements (Unaudited) ORACLE CORPORATION CONDENSED CONSOLIDA TED BALANCE SHEETS As of February 29, 2024 and May 31, 2023 (Unaudited) (in millions, except per share data) February 29, 2024 May 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 9,481 $ 9,765 Marketable securities 423 422 Trade receivables, net of allowances for credit losses of $ 469 and $ 428 as of February 29, 2024 and May 31, 2023, respectively 7,297 6,915 Prepaid expenses and other current assets 3,862 3,902 Total current assets 21,063 21,004 Non-current assets: Property, plant and equipment, net 19,117 17,069 Intangible assets, net 7,629 9,837 Goodwill, net 62,222 62,261 Deferred tax assets 12,688 12,226 Other non-current assets 14,363 11,987 Total non-current assets 116,019 113,380 Total assets $ 137,082 $ 134,384 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Notes payable and other borrowings, current $ 5,510 $ 4,061 Accounts payable 1,658 1,204 Accrued compensation and related benefits 1,796 2,053 Deferred revenues 8,931 8,970 Other current liabilities 6,990 6,802 Total current liabilities 24,885 23,090 Non-current liabilities: Notes payable and other borrowings, non-current 82,470 86,420 Income taxes payable 10,451 11,077 Deferred tax liabilities 4,483 5,772 Other non-current liabilities 8,611 6,469 Total non-current liabilities 106,015 109,738 Commitments and contingencies Oracle Corporation stockholders' equity: Preferred stock, $ 0.01 par value—authorized: 1.0 shares; outstanding: none — — Common stock, $ 0.01 par value and additional paid in capital—authorized: 11,000 shares; outstanding: 2,747 shares and 2,713 shares as of February 29, 2024 and May 31, 2023, respectively 31,622 30,215 Accumulated deficit ( 24,533 ) ( 27,620 ) Accumulated other com

View Full Filing

View this 10-Q filing on SEC EDGAR