Adobe (ADBE) 10-K Summary — Year Ended Dec 1, 2023
The filing describes Adobe Inc.'s business operations and financial results for the fiscal year. The company reported revenue growth and maintained a strong liquidity position.
Key takeaway
Year ended Dec 1, 2023 · FY2025 10-K
The filing describes Adobe Inc.'s business operations and financial results for the fiscal year. The company reported revenue growth and maintained a strong liquidity position.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$19.4B
Revenue reported for the fiscal year.
Operating income
$6.7B
Income from operations reported for the year.
Net income
$5.4B
Net income reported for the year.
Operating cash flow
$7.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 3, 2021 | $15.8B | n/a |
| Dec 2, 2022 | $17.6B | +11.5% |
| Dec 1, 2023 | $19.4B | +10.2% |
Business overview
The company's business activities are outlined in Item 1 of the filing, covering its operations and strategy. The primary source of cash is receipts from revenue, with uses including payroll, marketing, and stock repurchases.
Financial performance
Revenue increased compared to the prior year, and the company reported operating income and net income. Operating cash flow remained substantial.
Material risks
The filing includes a Risk Factors section (Item 1A) that discusses various risks, but the specific details are not provided in the supplied data.
Liquidity and capital
The company's primary cash sources are revenue receipts and short-term investment proceeds, while uses include operating expenses, stock repurchases, and acquisitions. Working capital and stockholders' equity increased compared to the prior year.
What to watch
Monitor the revenue growth trajectory in the next filing to assess momentum.