Slide 1: Adobe Q1 FY2022 Earnings Call
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Adobe Q1 FY2022 Earnings Call March 22, 2022 Introduc�on Jonathan Vaas | VP, Investor Rela�ons JONATHAN VAAS Good afternoon and thank you for joining us. With me on the call today are Shantanu Narayen, Adobe’s Chairman and CEO, David Wadhwani, Pres
Slide 2: Financial Disclaimer
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Financial Disclaimer Some of the informa�on discussed in this presenta�on, including our financial targets and product plans, is based on informa�on as of today, March 22, 2022, and contains forward -looking statements that involve risk, uncertainty
Slide 3: Q1 FY2022 Results
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Q1 FY2022 Results Shantanu Narayen | Chairman & CEO SHANTANU NARAYEN Thanks, Jonathan. Good afternoon and thank you for joining us. Before I discuss our Q1 results, I want to acknowledge the horrifying and heartbreaking crisis in Ukraine. The pain
Slide 4: Adobe had a strong Q1 with record $4.26 billion revenue
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Changing the world through digital experiences Unleashing Crea�vity Accelera�ng Powering Document Produc�vity Digital Businesses Adobe Crea�ve Cloud Adobe Document Cloud Adobe Experience Cloud $4.26 Billion Q1 revenue GAAP EPS: $2.66 9% Y/Y growth
Slide 5: Adobe Creative Cloud
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Q1 FY2022 Results David Wadhwani | President, Digital Media Business DAVID WADHWANI Thanks, Shantanu. And hello everyone. Adobe Crea�ve Cloud • Crea�ve revenue of $2.55 billion • Newly launched Crea�ve Cloud Express seeing strong traffic, millions of
Slide 6: Creative Cloud product and community update
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 customers of every skill level to create content that stands out. We continue to lead in core creative categories such as imaging, design, video and illustration and we are advancing new media types like 3D and immersive for the emerging metaverse
Slide 7: Creative Cloud wins and Document Cloud
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 record levels. As creativity has become a team sport, we will extend our leadership in video collaboration and bring collaboration capabilities to all creative categories; • We’re also seeing tremendous interest for Substance 3D and our new 3D Mode
Slide 8: Document Cloud ending ARR crossed $2 billion
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Ending ARR for Document Cloud crossed the $2 billion mark, which represents 29 percent year-over- year growth. Q1 highlights include: • Strong growth in Adobe Sign, driven by unifying e-signature functionality in Acrobat and new Sign integrations w
Slide 9: Adobe Experience Cloud
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Q1 FY2022 Results Anil Chakravarthy | President, Digital Experience Business ANIL CHAKRAVARTHY Thanks, David. Hello everyone. Over the last two years, the digital economy has exploded as we have experienced a profound global shift in how we work, l
Slide 10: Adobe Experience Cloud and Adobe Experience Platform
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Adobe Experience Cloud is a comprehensive set of integrated, AI-driven applications and services to help companies deliver experiences across all aspects of the customer journey. At its core is the Adobe Experience Platform with billions of custome
Slide 11: Experience Cloud partners and customer wins
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 content management to meet the ever-increasing demand for content at speed and scale; Adobe is uniquely positioned to help customers across the content supply chain; • New APIs that provide developers with the flexibility to create customized user
Slide 12: Q1 Performance
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Q1 FY2022 Results Dan Durn | EVP & CFO DAN DURN Thanks, Anil. Today I will start by summarizing Adobe’s performance in Q1 fiscal 2022, highlighting growth drivers across our businesses, and I’ll finish with targets for Q2. Q1 FY2022 Results Total R
Slide 13: Business and financial highlights
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 We are witnessing the digitization of everything, and Adobe’s products offer customers access to a digital future, underpinning how they live and work. Our investment in products, marketing and a data- driven operating model are continuing to drive
Slide 14: Creative Cloud results
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 over-year basis after factoring out the additional week in the year-ago period. Adobe Crea�ve Cloud | Results • Crea�ve revenue of $2.55 billion growing 7% Y/Y or 16% Y/Y adjusted1, with $315 million of net new Crea�ve ARR • Strong engagement and r
Slide 15: Document Cloud results
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Adobe Document Cloud | Results • Document Cloud revenue of $562 million growing 17% Y/Y or 26% Y/Y adjusted1, with $103 million of net new Document Cloud ARR • Ending ARR surpassed $2 billion, growing 29% Y/Y • Strong customer demand for Acrobat su
Slide 16: Digital Experience results
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Adobe Experience Cloud | Results • Digital Experience revenue of $1.06 billion growing 13% Y/Y or 20% Y/Y adjusted1, with subscrip�on revenue of $932 million growing 15% Y/Y or 22% Y/Y adjusted1 • New logo acquisi�on across solu�ons • Strong custom
Slide 17: Income Statement and Balance Sheet
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Q1 FY2022 Results Q1 Revenue by Geography • Trade DSO of 36 days • RPO of $13.83 billion EMEA • Cash and short -term investments of $4.70 27% billion Americas 57% • Cash flows from opera�ons of $1.77 billion Asia 16% • Repurchased approximately 3.8
Slide 18: Q2 FY2022 Financial Targets
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 common stock during the term of the agreement with the final settlement and delivery of incremental shares to Adobe scheduled to occur in early Q3. These share repurchases are part of the previously announced program, under which we currently have
Slide 19: Q2 targets and fiscal 2022 outlook
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 • Digital Experience segment revenue growth of approximately 15 percent year over year, or 16 percent in constant currency; • Digital Experience subscription revenue growth of approximately 17 percent year over year, or 18 percent in constant curre
Slide 20: Closing remarks: Innovation, Leadership, Purpose
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Shantanu, back to you. Innova�on Leadership Purpose © 2022 Adobe. All Rights Reserved. Adobe Confiden�al. SHANTANU NARAYEN Thanks, Dan. This is a transformative time at Adobe. We are engaging with hundreds of millions of customers globally—from indi
Slide 21: Q&A
Adobe Q1 FY2022 Earnings Call Script March 22, 2022 Q&A Page 21 of 21
Slide 22: Investor Relations Data Sheet
Adobe Investor Relations Data Sheet Last Updated: March 22, 2022 Description Q1FY20 Q2FY20 Q3FY20 Q4FY20 FY2020 Q1FY21 Q2FY21 Q3FY21 Q4FY21 FY2021 Q1FY22 Revenue Total Revenue 3,091 3,128 3,225 3,424 12,868 3,905 3,835 3,935 4,110 15,785 4,262 ($Millions) Digital Media 2,169 2,232 2,337 2,495 9,233
Slide 23: Income Statement - Reconciliation of GAAP to Non-GAAP
Adobe Investor Relations Data Sheet Income Statement - Reconciliation of GAAP to Non-GAAP Last Updated: March 22, 2022 Description Q1FY20 Q2FY20 Q3FY20 Q4FY20 FY2020 Q1FY21 Q2FY21 Q3FY21 Q4FY21 FY2021 Q1FY22 Revenue 3,091 3,128 3,225 3,424 12,868 3,905 3,835 3,935 4,110 15,785 4,262 Cost of revenue
Slide 24: FY2022 Business Segment Classifications
FY2022 Business Segment Classifications Last Updated: March 22, 2022 Adobe Creative Cloud Apps Multi-Surface Apps Creative Cloud Photoshop Photoshop Illustrator Premiere Aero Acrobat Photoshop Illustrator Express Lightroom Rush (web) (web) Desktop Apps Premiere After Effects Photoshop Animate Auditi