Revenue (LTM)
$9.6B
+13.1% YoY
Net Income (LTM)
$693M
+31.7% YoY
Watch on earnings:Subscription revenue growth rate (organic, constant currency)Operating margin and path to 25% target modelCalculated billings growth (revenue + change in deferred revenue) as proxy for bookings momentumCustomer count in 5,000+ employee segment and Fortune 500 penetrationProfessional services gross margin (should remain near breakeven, not drag overall margins)Free cash flow margin and Rule of 40 score (growth rate + FCF margin) Key metrics:Subscription revenue growth rate (organic, constant currency) - watch for deceleration below 15% · Current remaining performance obligation (cRPO) growth - leading indicator of next 12-month revenue · Operating cash flow margin and free cash flow conversion (target 30%+ FCF margin) · Net revenue retention rate (currently 98%) - any decline below 95% signals churn or contraction risk
Income Statement
| Metric | Jan 22 | Jan 23 | Jan 24 | Jan 25 | Jan 26 |
|---|
| Revenue | 5,139 | 6,216↑21.0% | 7,259↑16.8% | 8,446↑16.4% | 9,552↑13.1% |
| Gross Profit | 3,711 | 4,506↑21.4% | 5,488↑21.8% | 6,377↑16.2% | 7,231↑13.4% |
| Operating Income | -116 | -222↓91.4% | 183↑182.4% | 415↑126.8% | 1,024↑146.7% |
| Net Income | 29 | -367↓1365.5% | 1,381↑476.3% | 526↓61.9% | 693↑31.7% |
| EBITDA | 377 | 206↓45.4% | 752↑265.0% | 1,078↑43.4% | 1,356↑25.8% |
| EPS Diluted | 0.12 | -1.44↓1300.0% | 5.21↑461.8% | 1.95↓62.6% | 2.58↑32.3% |
Balance Sheet
⚠ Stock-based compensation dilution: SBC runs 15-20% of revenue, creating 3-4% annual dilution and masking true profitability - GAAP operating margin of 5% vs non-GAAP 20%+| Metric | Jan 22 | Jan 23 | Jan 24 | Jan 25 | Jan 26 |
|---|
| Cash & Equivalents | 1,534 | 1,886↑22.9% | 2,012↑6.7% | 1,543↓23.3% | 1,501↓2.7% |
| Total Current Assets | 5,061 | 7,917↑56.4% | 9,707↑22.6% | 10,278↑5.9% | 8,429↓18.0% |
| Total Assets | 10,499 | 13,486↑28.5% | 16,452↑22.0% | 17,977↑9.3% | 18,074↑0.5% |
| Total Current Liabilities | 5,068 | 4,628↓8.7% | 5,055↑9.2% | 5,548↑9.8% | 6,378↑15.0% |
| Total Liabilities | 5,963 | 7,901↑32.5% | 8,370↑5.9% | 8,943↑6.8% | 10,269↑14.8% |
| Total Equity | 4,535 | 5,586↑23.2% | 8,082↑44.7% | 9,034↑11.8% | 7,805↓13.6% |
| Total Debt | 2,103 | 3,249↑54.5% | 3,296↑1.4% | 3,362↑2.0% | 3,821↑13.7% |
| Net Debt | 568 | 1,363↑139.8% | 1,284↓5.8% | 1,819↑41.7% | 2,320↑27.5% |
Cash Flow Statement
| Metric | Jan 22 | Jan 23 | Jan 24 | Jan 25 | Jan 26 |
|---|
| Operating Cash Flow | 1,651 | 1,657↑0.4% | 2,149↑29.7% | 2,461↑14.5% | 2,939↑19.4% |
| Capital Expenditure | -272 | -360↓32.3% | -238↑33.9% | -272↓14.3% | -162↑40.4% |
| Free Cash Flow | 1,378 | 1,297↓5.9% | 1,911↑47.3% | 2,189↑14.5% | 2,777↑26.9% |
| Stock-Based Comp | 1,112 | 1,295↑16.5% | 1,416↑9.3% | 1,519↑7.3% | 1,626↑7.0% |
| Net Change in Cash | 153 | 354↑132.0% | 129↓63.6% | -470↓464.3% | -53↑88.7% |
Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down