Slide 1: Q4 Fiscal Year 2026 Conference Call
Q4 Fiscal Year 2026 Conference Call August 12, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results may differ
Slide 3: Business Momentum & Key Trends
Business Momentum & Key Trends
Slide 4: FY 2026 Key Takeaways
FY 2026 Key Takeaways Strong Financial Performance Accelerating Significant AI FY26 revenue and EPS both Campus Refresh and Momentum exceeded the high end of our DC Switching Growth guidance ranges $9.3B of hyperscaler AI orders in FY26, a ~4.5x increase vs. Campus networking technology Highest empl
Slide 5: Q4 FY 2026 Summary
Q4 FY 2026 Summary • Double-digit top and bottom-line growth, with record high revenue and EPS exceeding the high-end of guidance ranges • $17.3B in revenue, up 18% y/y, non-GAAP EPS of $1.22, up 23% y/y • Record non-GAAP operating income of $6.2B; non-GAAP operating margin of 35.9% • Record high de
Slide 6: Cisco AI Infrastructure Orders Taken from Hyperscalers
Cisco AI Infrastructure Orders Taken from Hyperscalers $4,000 $9.3B in FY26 $3,500 $3,000 $2,500 $ millions $2,000 $1,500 $1,000 $2B in FY25 $500 $0 Q1FY'25 Q2FY'25 Q3FY'25 Q4FY'25 Q1FY'26 Q2FY'26 Q3FY'26 Q4FY'26 The AI orders do not include Neocloud, Sovereign, or AI enterprise orders taken. © 2026
Slide 7: AI Unlocking a Cisco Networking Supercycle
AI Unlocking a Cisco Networking Supercycle As customers assess their most economical AI consumption model (open or closed/frontier LLMs) and where they chose to deploy their applications – whether in the public cloud, a neocloud, in an enterprise private AI cloud, or at the campus edge, we believe C
Slide 8: A New Level of Secure Networking Demand
A New Level of Secure Networking Demand As Agentic AI workloads rapidly expand, with AI agents being deployed in data centers, deployed across application environments, and engaging continuously with end-users, network traffic will not only exceed today's chatbot levels, but agents will keep it pers
Slide 9: Cisco Campus Networking Refresh Ramping
Cisco Campus Networking Refresh Ramping Catalyst 9000 Family C9350 & C9610 Smart Wi-Fi 7 Access Points Industrial IoT portfolio Switches Campus, Wireless, and Edge Devices - Highlights Campus networking had record orders in Q4 FY26, up 20% y/y Next-gen campus networking portfolio ramping faster
Slide 10: Cisco Silicon One – Unlocking New Opportunities
Cisco Silicon One – Unlocking New Opportunities Integrated Access Services Router Enterprise Switch Scale across DC Scale within DC Campus & Provider Access Provider Edge & Enterprise Core Campus & Data Center WAN & AI Inter-Data Center AI Cluster & Cloud Bandwidth Silicon One Highlights and Outlook
Slide 11: Cisco Accelerating AI Scale-Across Deployments
Cisco Accelerating AI Scale-Across Deployments Cisco is one of few networking technology providers that can deliver AI Scale-across Systems, Silicon, Coherent Pluggables, and Optical Open Line Systems enabling hyperscalers and other service providers to deploy coherent AI networks across multiple da
Slide 12: AI Scale Across – Bandwidth Growth Multiplying
AI Scale Across – Bandwidth Growth Multiplying The Bandwidth Hierarchy Data center interconnect (DCI) baseline: Traditional DCI connects two facilities for cloud, enterprise, or other service provider traffic at 1x bandwidth, typically requiring 1,000–2,000 coherent ports. Scale across step-chan
Slide 13: Financial Overview
Financial Overview
Slide 14: Q4 FY 2026 Revenue and Total Gross Margin
Q4 FY 2026 Revenue and Total Gross Margin $M (except percentages) Revenue Total Gross Margin % Q4 FY’25 Q3 FY’26 Q4 FY’26 Q4 FY’25 Q3 FY’26 Q4 FY’26 Americas $8,822 $9,569 $10,396 68.0% 63.7% 64.5% EMEA 3,645 4,054 4,350 71.7% 71.3% 70.1% APJC 2,206 2,218 2,506 64.2% 66.1% 67.3% Geographic Total $14
Slide 15: Q4 FY 2026 Revenue Highlights
Q4 FY 2026 Revenue Highlights Category $M Y/Y Networking $9,791 28% Security 2,226 14% Collaboration 1,167 12% Observability 275 6% Services 3,793 0% Total Cisco $17,252 18% Amounts may not sum and percentages may not recalculate due to rounding. © 2026 Cisco and/or its affiliates. All rights reserv
Slide 16: Q4 FY 2026 RPO and ARR
Q4 FY 2026 RPO and ARR $B (except percentages) Q4 FY 2025 Q3 FY 2026 Q4 FY 2026 Remaining Performance Obligations (RPO): $43.5 $43.5 $46.7 Year/Year Change 6% 4% 7% Product RPO $21.6 $22.1 $23.4 Year/Year Change 8% 6% 9% Services RPO $22.0 $21.4 $23.3 Year/Year Change 5% 2% 6% Annualized Recurring R
Slide 17: Q4 FY 2026 Product Orders
Q4 FY 2026 Product Orders Total Product Orders: 35% Y/Y Geographic Segment Y/Y Customer Market Y/Y Americas 44% Enterprise 21% EMEA 25% Public Sector 30% APJC 19% Service Provider & Cloud 95% © 2026 Cisco and/or its affiliates. All rights reserved. Cisco Confidential Cisco Public
Slide 18: Q4 FY 2026 GAAP Income Statement Highlights
Q4 FY 2026 GAAP Income Statement Highlights $M (except per-share amounts and percentages) Q4 FY 2025 Q3 FY 2026 Q4 FY 2026 Revenue $14,673 $15,841 $17,252 Year/Year Change 8% 12% 18% Product $10,886 $12,117 $13,459 Services $3,787 $3,724 $3,793 Gross Margin 63.2% 63.6% 64.1% Product Gross Margin 61.
Slide 19: Q4 FY 2026 Non-GAAP Income Statement Highlights
Q4 FY 2026 Non-GAAP Income Statement Highlights $M (except per-share amounts and percentages) Q4 FY 2025 Q3 FY 2026 Q4 FY 2026 Revenue $14,673 $15,841 $17,252 Year/Year Change 8% 12% 18% Product $10,886 $12,117 $13,459 Services $3,787 $3,724 $3,793 Gross Margin 68.4% 66.0% 66.3% Product Gross Margin
Slide 20: Q4 FY 2026 Key Financial Measures
Q4 FY 2026 Key Financial Measures $M Q4 FY 2025 Q3 FY 2026 Q4 FY 2026 Cash, Cash Equivalents and Investments $16,110 $16,640 $15,918 Operating Cash Flow $4,234 $3,757 $5,386 Inventory $3,164 $4,708 $5,694 Inventory Purchase Commitments $7,599 $16,033 $17,165 Deferred Revenue: $28,779 $28,599 $29,781
Slide 21: Q4 FY 2026 Capital Allocation
Q4 FY 2026 Capital Allocation Total Capital Allocation Q4 FY 2026 FY 2026 Share Repurchases ($M) $1,502 $6,106 Dividends Paid ($M) 1,659 6,553 Total ($M) $3,161 $12,659 Dividend per Share $0.42 $1.66 Share Repurchases Q4 FY 2026 FY 2026 Amount Purchased ($M) $1,502 $6,106 Number of Shares (M) 13 76
Slide 22: FY 2026 GAAP Income Statement Highlights
FY 2026 GAAP Income Statement Highlights $M (except per-share amounts and percentages) FY 2025 FY 2026 Revenue $56,654 $63,325 Year/Year Change 5% 12% Product $41,608 $48,295 Services $15,046 $15,030 Gross Margin 64.9% 64.5% Product Gross Margin 63.7% 63.2% Services Gross Margin 68.5% 68.8% Operatin
Slide 23: FY 2026 Non-GAAP Income Statement Highlights
FY 2026 Non-GAAP Income Statement Highlights $M (except per-share amounts and percentages) FY 2025 FY 2026 Revenue $56,654 $63,325 Year/Year Change 5% 12% Product $41,608 $48,295 Services $15,046 $15,030 Gross Margin 68.7% 66.9% Product Gross Margin 67.9% 65.6% Services Gross Margin 71.0% 71.2% Oper
Slide 24: Guidance
Guidance
Slide 25: Guidance for Q1 FY 2027
Guidance for Q1 FY 2027 Cisco expects to achieve the following results: Q1 FY 2027 Guidance Revenue $18.0B – $18.2B Non-GAAP Gross Margin 65% – 66% Non-GAAP Operating Margin 35.5% – 36.5% Non-GAAP EPS $1.32 – $1.34 • Cisco estimates that GAAP EPS will be $1.08 to $1.10 for the first quarter of fisca
Slide 26: Guidance for FY 2027
Guidance for FY 2027 Cisco expects to achieve the following results: FY 2027 Guidance Revenue $72.2B – $73.4B Non-GAAP EPS $5.05 – $5.11 • Cisco estimates that GAAP EPS will be $4.00 to $4.06 for fiscal 2027. • FY 2027 guidance assumes an effective tax provision rate of approximately 14.5% for GAAP
Slide 27: Q&A
Q&A
Slide 28: Forward-Looking Statements
Forward-Looking Statements These presentation slides and the related conference call contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements r
Slide 29: ctftotfas
ctftotfas cisco
Slide 30: Supplemental Materials
Supplemental Materials
Slide 31: GAAP to Non-GAAP Guidance for Q1 FY 2027
GAAP to Non-GAAP Guidance for Q1 FY 2027 Gross Operating Earnings Q1 FY 2027 margin margin per share (1) GAAP 63% - 64% 28% - 29% $1.08 - $1.10 Estimated adjustments for: Share-based compensation expense 1.0% 4.5% $0.14 Amortization of acquisition-related intangible assets and other acquisition/dive
Slide 32: GAAP to Non-GAAP Guidance for FY 2027
GAAP to Non-GAAP Guidance for FY 2027 Operating Earnings FY 2027 margin per share (1) GAAP 27% $4.00 - $4.06 Estimated adjustments for: Share-based compensation expense 5% $0.60 Amortization of acquisition-related intangible assets and other 2% $0.34 acquisition/divestiture-related costs Restructuri