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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q3 FY262026-08-28 | Q2 FY262026-05-29 | Q1 FY262026-02-27 | Q4 FY252025-11-28 | Q3 FY252025-08-29 | Q2 FY252025-05-30 | Q1 FY252025-02-28 | Q4 FY242024-11-29 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.76B | $6.62B | $6.40B | $6.19B | $5.99B | $5.87B | $5.71B | $5.61B |
| Cost of revenue | $763.00M | $715.00M | $664.00M | $649.00M | $642.00M | $638.00M | $622.00M | $616.00M |
| Gross profit | $6.00B | $5.90B | $5.73B | $5.55B | $5.35B | $5.24B | $5.09B | $4.99B |
| Gross margin | 88.7% | 89.2% | 89.6% | 89.5% | 89.3% | 89.1% | 89.1% | 89.0% |
| Research and development | $1.29B | $1.20B | $1.11B | $1.10B | $1.09B | $1.08B | $1.03B | $999.00M |
| Selling, general and administrative | $2.32B | $2.43B | $2.17B | $2.15B | $2.05B | $2.00B | $1.86B | $1.99B |
| Operating expenses | $3.64B | $3.67B | $3.32B | $3.28B | $3.17B | $3.13B | $2.93B | $3.03B |
| Operating income | $2.35B | $2.24B | $2.42B | $2.26B | $2.17B | $2.11B | $2.16B | $1.96B |
| Operating margin | 34.8% | 33.8% | 37.8% | 36.5% | 36.3% | 35.9% | 37.9% | 34.9% |
| EBITDA | $2.57B | $2.43B | $2.59B | $2.45B | $2.38B | $2.32B | $2.38B | $2.18B |
| Interest expense | −$66.00M | −$65.00M | −$63.00M | −$66.00M | −$67.00M | −$68.00M | −$62.00M | −$50.00M |
| Income before taxes | $2.36B | $2.24B | $2.42B | $2.26B | $2.19B | $2.10B | $2.18B | $1.99B |
| Income taxes | $530.00M | $526.00M | $533.00M | $408.00M | $415.00M | $410.00M | $371.00M | $308.00M |
| Net income | $1.83B | $1.71B | $1.89B | $1.86B | $1.77B | $1.69B | $1.81B | $1.68B |
| Net margin | 27.0% | 25.9% | 29.5% | 30.0% | 29.6% | 28.8% | 31.7% | 30.0% |
| EPS, basic | $4.63 | $4.26 | $4.60 | $4.45 | $4.18 | $3.95 | $4.15 | $3.81 |
| EPS, diluted | $4.62 | $4.25 | $4.60 | $4.45 | $4.18 | $3.94 | $4.14 | $3.79 |
| Diluted shares | 395.50M | 402.50M | 410.80M | 417.40M | 424.10M | 428.90M | 437.60M | 443.50M |
Figures describe Adobe shares, not any token. As of Sep 22, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.