🔹 Revenue: $818.4M (Est. $807.09M) 🟢; +8% YoY
🔹 Adj EPS: $1.01 (Est. $0.91) 🟢
🔹 Subscription: $801.0M; +9% YoY
🔹 Billings: $829.5M; +10% YoY
🔹 Non-GAAP Gross Margin: 81.8% (82.5% prior)
FY26 Guide:
🔹 Revenue: $3.208B–$3.212B (Est. $3.2B) 🟢; +8% YoY
🔹 Subscription Revenue: $3.140B–$3.144B; +8% YoY
🔹 Billings: $3.379B–$3.389B; +9% YoY
🔹 Non-GAAP Gross Margin: 81.7%–81.8%
🔹 Non-GAAP Operating Margin: 29.8%–29.9%
Q4’26 Guide:
🔹 Revenue: $825M–$829M; +7% YoY at midpoint
🔹 Subscription Revenue: $808M–$812M; +7% YoY
🔹 Billings: $992M–$1,002M; +8% YoY
🔹 Non-GAAP Gross Margin: 80.8%–81.2%
🔹 Non-GAAP Operating Margin: 28.3%–28.7%
Cash Flow & Capital Return:
🔹 Operating Cash Flow: $290.3M vs $234.3M
🔹 Free Cash Flow: $262.9M vs $210.7M
🔹 Cash & Investments: $1.0B
🔹 Buybacks: $215.1M (vs $172.7M prior year)
IAM / AI Highlights (key stuff only):
🔹 >25,000 customers on IAM platform; ~150M opted-in agreements in Navigator
🔹 IAM integrations with ChatGPT, Anthropic Claude, Gemini Enterprise, GitHub Copilot, Microsoft Copilot (via MCP server)
🔹 Navigator & Maestro APIs opened for deeper workflow/system integration
🔹 FedRAMP Moderate / GovRAMP authorization; expanded ID verification (incl. CLEAR)