CLAIM #3987 · Adobe Systems Incorporated (ADBE) · 2022Q1 earnings call · Mar 22, 2022 · due Dec 2, 2022
“So, we expect this to continue through the year in terms of our momentum.”
Anil Chakravarthy · President, Digital Experience
How to check this claim
Look at: Digital Experience segment subscription revenue growth rate (adjusted, year-over-year), quarterly
It came true if: Quarterly Digital Experience subscription revenue growth (adjusted) remains at or above approximately 20% in subsequent quarters through fiscal year 2022
Where: Adobe quarterly earnings release / 10-Q segment disclosures
In context
“Thanks for the question. We are pleased with the momentum we have seen in the digital experience business with 22% growth and subscription on an adjusted basis. The market opportunity is huge, over $100 billion of TAM. The pandemic obviously put a spotlight on it in terms of the urgency. We are seeing it continue to grow in terms of customer demand, customer interest at the Board level and at the C-level. We are in a really strong market position with what we have built with the Adobe Experience Platform and the native apps like Customer Journey Analytics and CDP that we have built with that. So, overall, we feel really excited about the path forward. And we just had the Summit conference last week, excellent pipeline building event as well as a chance to showcase our product innovation. So, we expect this to continue through the year in terms of our momentum. Tyler Radke: Thank you. Operator: Thank you. We will take our next question from Keith Bachman with BMO. Keith Bachman: Hi. Thank you. I am going to follow lead with a couple of clarifications. Dan, could you comment on what the inorganic contribution was this quarter and where it manifests? So for instance Frame.io, what was the contribution there? Secondly, when you think about – I just want to clarify on the ARR write-off, so to speak. The comment was that you are ceasing all new incremental business. But are you going to continue to get ARR payments in Russia – or from Russia and Belarus from existing business that might actually contribute to ARR? Just a little bit confused on that one. And then in the spirit of Keith Weiss, I am actually going to ask a third clarification. Shantanu,”
Verify independently
SEC filings for ADBE ↗ · Claim quote is verbatim from the 2022Q1 earnings call.