CLAIM #3938 · Adobe Systems Incorporated (ADBE) · 2021Q4 earnings call · Dec 16, 2021 · due Nov 25, 2022
“the math around the return to a 52-week fiscal year is expected to be a two-point headwind on our full-year, FY'22 growth rates and a seven-point headwind in Q1.”
Dan Durn · CFO
How to check this claim
Look at: Year-over-year revenue growth rate impact from the 53rd week comparison, full-year FY2022 and Q1 FY2022
It came true if: Full-year FY2022 revenue growth rate approximately 2 percentage points lower than adjusted/constant-week growth rate; Q1 FY2022 revenue growth rate approximately 7 percentage points lower than adjusted growth rate
Where: Company earnings release and management commentary (Q1 FY2022 and Q4 FY2022 earnings calls, 10-K/10-Q)
In context
“s for fiscal year 2022. Consistent with our annual practice, we've revalued our digital media ARR balance to account for the movements and the FX rates. For operating expenses, we continue to save on travel and facilities in fiscal year 2021. While many of our employees continue to work from home, we expect these expenses to ramp throughout FY 2022. We also plan to invest in increasing headcount in integrating Frame.io. We believe these are critical investments and we're making -- we believe these are critical investments we're making and we're going to focus relentlessly on the organic growth opportunities ahead Lastly, fiscal year 2021 was a 53-week fiscal year with an extra week in Q1. That week added approximately to $267 million of revenue and $25 million of net new digital media ARR the math around the return to a 52-week fiscal year is expected to be a two-point headwind on our full-year, FY'22 growth rates and a seven-point headwind in Q1. Here's Adobe's fiscal year 2022 annual targets. We show our segment growth targets on an actual and adjusted basis and constant currency factoring for the additional week last year: Total Adobe revenue of approximately $17.9 billion, net new digital media ARR of approximately $1.9 billion, digital media segment revenue growth of approximately 14% year-over-year, or 17% on an adjusted basis, digital experience segment revenue growth of approximately 14% year-over-year or 17% on an adjusted basis, digital experience subscription revenue growth of approximately 16% year-over-year or 19% on an adjusted basis, tax rate of approximately 17.5% on a GAAP basis and 17% on a non-GAAP basis, GAAP earnings per share of approximately $10.25 and non-GAAP earnings per share of approximately $13.70. For”
Verify independently
SEC filings for ADBE ↗ · Claim quote is verbatim from the 2021Q4 earnings call.