“This is the foundation for our FY 2026 total Adobe ARR growth target of over 10%, and we're focused on accelerating this momentum beyond FY 2026.”

In context

“our recently announced intent to acquire SEMRush to help brands enhance their visibility and expand audience reach. Driving significant new user acquisition across individuals and enterprises, with products including Acrobat, Creative Cloud, Express, and Firefly, achieving total MAU growth of greater than 15% year over year. Accelerating adoption of our AI functionality by enterprise customers further highlights our leadership and their trust in Adobe's ability to deliver AI value seamlessly across workflows. In Q4, globally, we drove record bookings of deals greater than $1 million and achieved over 25% year-over-year growth in the number of customers with $10 million plus in ARR. Our customer group strategy, large market opportunity, and product innovation drove strong FY 2025 results. This is the foundation for our FY 2026 total Adobe ARR growth target of over 10%, and we're focused on accelerating this momentum beyond FY 2026. I'll now turn it over to David. David Wadhwani: Thanks, Shantanu. Hello, everyone. Digital Media had a record Q4, driven by user acquisition and expanded customer value across business professionals and consumers, and creators and creative professionals, underpinned by two big areas of innovation: generative AI models and agentic experiences. Digital media achieved revenue of $4.62 billion in Q4 and full-year revenue of $17.65 billion, both of which grew 11% year over year. We exited the quarter with $19.2 billion of digital media ARR, growing ending ARR 11.5% year over year. As it relates to generative AI models, we have continued to develop our own commercially safe FIREFLY models while dramatically expanding our ecosystem of GenAI model partnerships. The new Firefly Image five model is”