Adobe Inc. Files 8-K: Financials and Operations Update

TL;DR

Adobe dropped an 8-K on 3/14 detailing financials & operations - check it for the latest numbers.

AI Summary

On March 14, 2024, Adobe Inc. filed an 8-K report detailing its financial results and other events. The filing includes information on the company's operations and financial condition, as well as financial statements and exhibits. Specific dollar amounts and dates related to these financial events are detailed within the full report.

Why It Matters

This filing provides investors with crucial, up-to-date information on Adobe's financial performance and operational status, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine filing providing standard financial and operational updates, not indicating any immediate or unusual risks.

Key Players & Entities

• ADOBE INC. (company) — Registrant
• March 14, 2024 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation
• 345 Park Avenue San Jose , California 95110-2704 (address) — Principal executive offices
• 77-0019522 (identifier) — I.R.S. Employer Identification No.

FAQ

Key Financial Figures

• $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share ADBE NASDAQ Global
• $25 billion — ing Adobe authority to repurchase up to $25 billion in common stock through March 14, 2028.
• $25 Billion — 4, 2024 entitled " Adobe An nounces New $25 Billion Stock Repurchase Program " 104 Cover

Filing Documents

• adbe-20240314.htm (8-K) — 45KB
• adbeex991q124.htm (EX-99.1) — 214KB
• adbeex992q124.htm (EX-99.2) — 10KB
• image.jpg (GRAPHIC) — 23KB
• image_0.jpg (GRAPHIC) — 3KB
• 0000796343-24-000057.txt ( ) — 478KB
• adbe-20240314.xsd (EX-101.SCH) — 2KB
• adbe-20240314_def.xml (EX-101.DEF) — 14KB
• adbe-20240314_lab.xml (EX-101.LAB) — 25KB
• adbe-20240314_pre.xml (EX-101.PRE) — 15KB
• adbe-20240314_htm.xml (XML) — 3KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On March 14, 2024, Adobe Inc. ("Adobe") issued a press release announcing financial results for its first quarter fiscal year 2024 ended March 1, 2024. A copy of this press release is furnished and attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this report and the exhibit attached hereto are being furnished and shall not be deemed filed for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing. The attached press release includes non-GAAP adjusted or constant currency revenue growth rates, non-GAAP operating income, non-GAAP net income, non-GAAP diluted net income per share (earnings per share) and non-GAAP tax rate. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. We believe that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. We use these non-GAAP financial measures in making operating decisions because we believe the measures provide meaningful supplemental information regarding our operational performance and give us a better understanding of how we should invest in research and development and fund infrastructure and go-to-market strategies. We use these measures to help us make budgeting decisions, for example, as between product development

01. Other Events

Item 8.01. Other Events. On March 14, 2024, Adobe announced that our Board of Directors approved a new stock repurchase program granting Adobe authority to repurchase up to $25 billion in common stock through March 14, 2028. A copy of the press release is furnished and attached hereto as Exhibit 99.2 and is incorporated herein by reference. Under our new stock repurchase program, which is designed to return value to our stockholders, minimize dilution from stock issuances and reduce share count over time, we may repurchase shares in the open market and also enter into structured repurchase agreements with third parties. The new stock repurchase program approved by our Board of Directors is substantially similar to our previous stock repurchase programs. The actual timing, number and value of shares repurchased under the new authorization will be determined by Adobe in its discretion and will depend on a number of factors, including market conditions, applicable legal requirements, Adobe's capital needs and whether there is a better alternative use of capital. Adobe has no obligation to repurchase any amount of its common stock under our new stock repurchase program. 3

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 99.1 Press release issued on Mar ch 14, 2024 entitled "Adobe Reports Record Revenue in Q 1 Fiscal 202 4 " 99.2 Press release issued on March 14, 2024 entitled " Adobe An nounces New $25 Billion Stock Repurchase Program " 104 Cover Page Interactive Data File (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) 4

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ADOBE INC. By: /s/ DANIEL DURN Daniel Durn Chief Financial Officer and Executive Vice President, Finance, Technology Services and Operations Date: March 14, 2024 5