ADOBE INC

For the period ended Nov 29, 2024. Filed Jan 13, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Jan 13, 2025

ADBE$236.70-0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

(In millions, except per share data)

	Years Ended
	November 29,2024	December 1,2023	December 2,2022
Revenue:
Subscription	$20,521	$18,284	$16,388
Product	386	460	532
Services and other	598	665	686
Total revenue	21,505	19,409	17,606
Cost of revenue:
Subscription	1,799	1,822	1,646
Product	25	29	35
Services and other	534	503	484
Total cost of revenue	2,358	2,354	2,165
Gross profit	19,147	17,055	15,441
Operating expenses:
Research and development	3,944	3,473	2,987
Sales and marketing	5,764	5,351	4,968
General and administrative	1,529	1,413	1,219
Acquisition termination fee	1,000	—	—
Amortization of intangibles	169	168	169
Total operating expenses	12,406	10,405	9,343
Operating income	6,741	6,650	6,098
Non-operating income (expense):
Interest expense	(169)	(113)	(112)
Investment gains (losses), net	48	16	(19)
Other income (expense), net	311	246	41
Total non-operating income (expense), net	190	149	(90)
Income before income taxes	6,931	6,799	6,008
Provision for income taxes	1,371	1,371	1,252
Net income	$5,560	$5,428	$4,756
Basic net income per share	$12.43	$11.87	$10.13
Shares used to compute basic net income per share	447	457	470
Diluted net income per share	$12.36	$11.82	$10.10
Shares used to compute diluted net income per share	450	459	471

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.