“Looking ahead to FY '26, we're confident in our ability to deliver industry-leading innovation, double-digit ARR growth, and world-class profitability.”

In context

“revenue of $6.25 to $6.3 billion, business professional and consumer subscription revenue of $1.74 to $1.76 billion, creative and marketing professional subscription revenue of $4.3 to $4.33 billion, GAAP EPS of $4.55 to $4.6, and non-GAAP EPS of $5.85 to $5.9. For Q1, we expect non-GAAP operating margin approximately 47%, a GAAP tax rate of approximately 21.5%, and a non-GAAP tax rate of approximately 18%. In summary, Adobe delivered another outstanding year fueled by strong global demand for our AI solutions across business professionals and consumers, and creative and marketing professional customer groups. Our disciplined execution and strategic investments position us to extend our leadership as we deliver an ecosystem of AI models, conversational interfaces, and agentic experiences. Looking ahead to FY '26, we're confident in our ability to deliver industry-leading innovation, double-digit ARR growth, and world-class profitability. Shantanu, back to you. Shantanu Narayen: Thanks, Dan. Our success is fueled by the incredible ingenuity of our global employees, who are passionate about delivering innovation, with relentless execution in service of our expanding customer base. Adobe is well-positioned to seize the immense market opportunities that we are creating, driving continued growth and shaping the industry in 2026 and beyond. Thank you, and we will now take your questions. Operator, Operator: Thank you. Phone, please make sure your mute function is turned off. Allow your signal to reach our equipment. Again, that is star one if you would like to ask questions. First question comes from Mark Murphy with JPMorgan. Thank you very much, and congratulations on a great finish to the year. Shantanu, you know, down at Ad”