“We expect the non-GAAP EPS impact of the acquisition to be negligible in the first year post-close and accretive thereafter.”

In context

“emium offerings, growing over 35% year over year to greater than 70 million monthly active users. AEP and apps ending ARR grew over 30% year over year. Demand for content automation offerings like Firefly Services and Firefly with ending ARR more than doubling year over year. GenStudio solution ending ARR grew over 25% year over year. And continued success in the enterprise, adding a record number of customers to the group with ARR exceeding $10 million. Total customers with ARR over $10 million grew 25% year over year to over 150. On November 19, we announced the intent to acquire Semrush Holdings for an equity value of approximately $1.9 billion in an all-cash transaction. We expect the transaction to close in 2026, subject to regulatory approvals and other customary closing conditions. We expect the non-GAAP EPS impact of the acquisition to be negligible in the first year post-close and accretive thereafter. Let me now turn to our financial targets, which assume current macroeconomic conditions. Our targets do not include any contribution from SEMRush. As is customary, we revalued ending ARR at the end of FY '25, which resulted in a $460 million increase to total Adobe ARR, from $25.2 billion to $25.66 billion entering FY '26, primarily from FX rate changes. We've now provided historical information on total Adobe ARR going back to FY '23 in our investor datasheet. For FY '26, we're targeting total Adobe revenue of $25.9 to $26.1 billion. Business professionals and consumer subscription revenue of $7.35 to $7.4 billion. Creative and marketing professional subscription revenue of $17.75 to $17.9 billion. Total Adobe ending ARR book of business growth of 10.2% year over year. GAAP EPS of $17.9”