ADOBE INC. (ADBE)
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Q2 Holdings: banking software growth now has to prove margin expansion is durable
Q2 Holdings reported FY2025 revenue of $794.8 million, Q1 2026 revenue of $216.5 million, FY2025 operating cash flow of $201.5 million and Q1 2026 net income of $26.6 million. The thesis depends on banking software demand, subscription durability, margin expan
OpenAdobe: the cash machine AI is supposed to defend, not destroy
Adobe's numbers still look like a software toll road. The debate is whether Firefly, Acrobat AI, CX Enterprise, and Semrush turn AI into more toll lanes or let customers route around the booth.
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