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Oracle Announces Fiscal 2024 Fourth Quarter and Fiscal Full Year Financial Results

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2 years ago

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Q4 Total Remaining Performance Obligations up 44% to $98 billionQ4 GAAP Earnings per Share $1.11, Non-GAAP Earnings per Share $1.63Q4 Total Revenue $14.3 billion, up 3% in USD, up 4% in constant currency Q4 Cloud Revenue (IaaS plus SaaS) $5.3 billion, up 20% in USD and constant currencyQ4 Cloud Infrastructure (IaaS) Revenue $2.0 billion, up 42% in USD and constant currency Q4 Cloud Application (SaaS) Revenue $3.3 billion, up 10% in USD and constant currencyQ4 Fusion Cloud ERP (SaaS) Revenue $0.8 billion, up 14% in USD and constant currencyQ4 NetSuite Cloud ERP (SaaS) Revenue $0.8 billion, up 19% in USD and constant currencyFY 2024 Total Revenue $53.0 billion, up 6% in USD and constant currency

AUSTIN, Texas, June 11, 2024 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2024 Q4 and full-year 2024 results. Total quarterly revenues were up 3% year-over-year in USD and up 4% in constant currency to $14.3 billion. Cloud services and license support revenues were up 9% in USD and up 10% in constant currency to $10.2 billion. Cloud license and on-premise license revenues were down 15% in USD and down 14% in constant currency to $1.8 billion. 

Q4 GAAP operating income was $4.7 billion. Non-GAAP operating income was $6.7 billion, up 8% in USD and up 9% in constant currency. GAAP operating margin was 33%, and non-GAAP operating margin was 47%. GAAP net income was $3.1 billion, and non-GAAP net income was $4.6 billion. Q4 GAAP earnings per share was $1.11 while non-GAAP earnings per share was $1.63.

Short-term deferred revenues were $9.3 billion. Operating cash flow was $18.7 billion during fiscal year 2024, up 9% in USD.

Fiscal year 2024 total revenues were up 6% in USD and constant currency to $53.0 billion. Cloud services and license support revenues were up 12% in USD and up 11% in constant currency to $39.4 billion. Cloud license and on-premise license revenues were down 12% in USD and constant currency to $5.1 billion.           

Fiscal year 2024 GAAP operating income was $15.4 billion, and GAAP operating margin was 29%. Non-GAAP operating income was $23.1 billion, and non-GAAP operating margin was 44%. GAAP net income was $10.5 billion, while non-GAAP net income was $15.7 billion. GAAP earnings per share was $3.71, while non-GAAP earnings per share was $5.56.

“In Q3 and Q4, Oracle signed the largest sales contracts in our history—driven by enormous demand for training AI large language models in the Oracle Cloud,” said Oracle CEO, Safra Catz. “These record level sales drove RPO up 44% to $98 billion. Throughout fiscal year 2025, I expect continued strong AI demand to push Oracle sales and RPO even higher—and result in double-digit revenue growth this fiscal year. I also expect that each successive quarter should grow faster than the previous quarter—as OCI capacity begins to catch up with demand. In Q4 alone, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion—including one with Open AI to train ChatGPT in the Oracle Cloud.”

“Our multicloud cooperation with Microsoft expanded significantly in Q4, as we agreed to work together to support Open AI and ChatGPT—and 11 of the 23 OCI datacenters we are building inside Azure went live,” said Oracle Chairman and CTO, Larry Ellison. “As this Azure/OCI cloud capacity becomes available to the large installed base of Microsoft and Oracle customers, it will turbocharge our cloud database growth. Now customers can run any and every version of the Oracle database—Autonomous, 23ai Vector DB, etc.— in both the Azure and the Oracle Clouds. As customers continue to choose and use multiple clouds, Hyperscalers like Microsoft and Google are responding by interconnecting their clouds.  Oracle recently signed an agreement with Google to interconnect our clouds—and initially build 12 OCI datacenters inside the Google Cloud. We expect the Oracle database to be available within the Google Cloud in September this year.”

The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 11, 2024, with a payment date of July 25, 2024.

A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.A list of recent technical innovations and announcements is available at www.oracle.com/news/.To learn what industry analysts have been saying about Oracle’s products and services see www.oracle.com/corporate/analyst-reports/.

Earnings Conference Call and Webcast

Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks

Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

“Safe Harbor” Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including expectations for AI demand driving revenue growth and the timing of such growth, the effects of our multicloud strategy on cloud database growth, and our plans for datacenters and Oracle database availability inside the Google Cloud, are “forward-looking statements” and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or by contacting Oracle’s Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of June 11, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.

 

 ORACLE  CORPORATION

Q4 FISCAL 2024 FINANCIAL RESULTS

 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

($ in millions, except per share data)

Three Months Ended May 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$ 10,234

72 %

$ 9,370

68 %

9 %

10 %

Cloud license and on-premise license

1,838

13 %

2,152

15 %

(15 %)

(14 %)

Hardware

842

6 %

850

6 %

(1 %)

0 %

Services

1,373

9 %

1,465

11 %

(6 %)

(6 %)

      Total revenues

14,287

100 %

13,837

100 %

3 %

4 %

OPERATING EXPENSES

Cloud services and license support 

2,522

18 %

2,157

16 %

17 %

17 %

Hardware

241

2 %

261

2 %

(7 %)

(7 %)

Services

1,160

8 %

1,312

9 %

(12 %)

(11 %)

Sales and marketing

2,114

15 %

2,289

17 %

(8 %)

(7 %)

Research and development 

2,226

15 %

2,226

16 %

0 %

0 %

General and administrative

402

3 %

400

3 %

1 %

1 %

Amortization of intangible assets

743

5 %

870

6 %

(15 %)

(15 %)

Acquisition related and other

101

1 %

51

0 %

97 %

97 %

Restructuring

92

0 %

131

1 %

(29 %)

(29 %)

      Total operating expenses 

9,601

67 %

9,697

70 %

(1 %)

(1 %)

OPERATING INCOME

4,686

33 %

4,140

30 %

13 %

15 %

Interest expense

(878)

(6 %)

(955)

(7 %)

(8 %)

(8 %)

Non-operating expenses, net

(26)

0 %

(76)

(1 %)

(66 %)

(68 %)

INCOME BEFORE INCOME TAXES

3,782

27 %

3,109

22 %

22 %

24 %

(Provision for) benefit from income taxes

(639)

(5 %)

210

2 %

*

*

NET INCOME

$    3,143

22 %

$ 3,319

24 %

(5 %)

(4 %)

EARNINGS PER SHARE:

Basic

$      1.14

$    1.23

Diluted

$      1.11

$    1.19

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,753

2,707

Diluted

2,834

2,796

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present

constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of

foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in

currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,

which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.

Movements in international currencies relative to the United States dollar during the three months ended May 31, 2024 compared

with the corresponding prior year period decreased our total revenues by 1 percentage point and operating income by 2 percentage

points.

*

Not meaningful

 

 

ORACLE  CORPORATION

Q4 FISCAL 2024 FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Three Months Ended May 31,

% Increase (Decrease)
in US $

% Increase (Decrease) in
Constant Currency (2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       14,287

$           –

$       14,287

$       13,837

$             –

$       13,837

3 %

3 %

4 %

4 %

TOTAL OPERATING EXPENSES

$         9,601

$   (1,983)

$         7,618

$         9,697

$    (2,016)

$         7,681

(1 %)

(1 %)

(1 %)

(1 %)

     Stock-based compensation (3)

1,047

(1,047)

–

964

(964)

–

9 %

*

9 %

*

     Amortization of intangible assets (4)

743

(743)

–

870

(870)

–

(15 %)

*

(15 %)

*

     Acquisition related and other

101

(101)

–

51

(51)

–

97 %

*

97 %

*

     Restructuring

92

(92)

–

131

(131)

–

(29 %)

*

(29 %)

*

OPERATING INCOME

$         4,686

$    1,983

$         6,669

$         4,140

$     2,016

$         6,156

13 %

8 %

15 %

9 %

OPERATING MARGIN %

33 %

47 %

30 %

44 %

288 bp.

219 bp.

311 bp.

235 bp.

INCOME TAX EFFECTS (5)

$           (639)

$      (519)

$        (1,158)

$            210

$       (680)

$           (470)

*

147 %

*

149 %

NET INCOME

$         3,143

$    1,464

$         4,607

$         3,319

$     1,336

$         4,655

(5 %)

(1 %)

(4 %)

0 %

DILUTED EARNINGS PER SHARE

$           1.11

$           1.63

$           1.19

$           1.67

(7 %)

(2 %)

(5 %)

(1 %)

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,834

–

2,834

2,796

–

2,796

1 %

1 %

1 %

1 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with
our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures,
the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. 

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than
United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the
respective periods. 

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Three Months Ended

Three Months Ended

May 31, 2024

May 31, 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            140

$      (140)

$               –

$            117

$      (117)

$               –

     Hardware

6

(6)

–

5

(5)

–

     Services

44

(44)

–

38

(38)

–

     Sales and marketing

178

(178)

–

177

(177)

–

     Research and development

583

(583)

–

535

(535)

–

     General and administrative

96

(96)

–

92

(92)

–

           Total stock-based compensation

$         1,047

$   (1,047)

$               –

$            964

$      (964)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:

     Fiscal 2025

$         2,303

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Thereafter

1,080

           Total intangible assets, net

$         6,890

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 16.9% and (6.7%) in the fourth quarter of fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 20.1% and 9.2% in the
fourth quarter of fiscal 2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of the fourth quarter of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-
based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to
an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*

Not meaningful

 

 

 

ORACLE  CORPORATION 

FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

($ in millions, except per share data)

Year Ended May 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$ 39,383

74 %

$ 35,307

71 %

12 %

11 %

Cloud license and on-premise license

5,081

10 %

5,779

12 %

(12 %)

(12 %)

Hardware 

3,066

6 %

3,274

6 %

(6 %)

(7 %)

Services

5,431

10 %

5,594

11 %

(3 %)

(3 %)

      Total revenues

52,961

100 %

49,954

100 %

6 %

6 %

OPERATING EXPENSES

Cloud services and license support 

9,427

18 %

7,763

16 %

21 %

21 %

Hardware

891

2 %

1,040

2 %

(14 %)

(15 %)

Services

4,825

9 %

4,761

10 %

1 %

1 %

Sales and marketing

8,274

15 %

8,833

18 %

(6 %)

(7 %)

Research and development 

8,915

17 %

8,623

17 %

3 %

3 %

General and administrative

1,548

3 %

1,579

3 %

(2 %)

(2 %)

Amortization of intangible assets

3,010

6 %

3,582

7 %

(16 %)

(16 %)

Acquisition related and other

314

0 %

190

0 %

65 %

64 %

Restructuring

404

1 %

490

1 %

(18 %)

(18 %)

      Total operating expenses 

37,608

71 %

36,861

74 %

2 %

2 %

OPERATING INCOME 

15,353

29 %

13,093

26 %

17 %

16 %

Interest expense

(3,514)

(7 %)

(3,505)

(7 %)

0 %

0 %

Non-operating expenses, net

(98)

0 %

(462)

(1 %)

(79 %)

(80 %)

INCOME BEFORE INCOME TAXES

11,741

22 %

9,126

18 %

29 %

27 %

Provision for income taxes

(1,274)

(2 %)

(623)

(1 %)

105 %

103 %

NET INCOME 

$ 10,467

20 %

$    8,503

17 %

23 %

22 %

EARNINGS PER SHARE:

Basic

$      3.82

$      3.15

Diluted

$      3.71

$      3.07

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,744

2,696

Diluted

2,823

2,766

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present
constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of
foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in
currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,
which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.
Movements in international currencies relative to the United States dollar during the year ended May 31, 2024 compared with the
corresponding prior year period increased our operating income by 1 percentage point.

 

 

ORACLE  CORPORATION

FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Year Ended May 31,

% Increase (Decrease)
in US $

% Increase (Decrease)
in Constant Currency (2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       52,961

$            –

$       52,961

$       49,954

$            –

$       49,954

6 %

6 %

6 %

6 %

TOTAL OPERATING EXPENSES

$       37,608

$   (7,702)

$       29,906

$       36,861

$   (7,809)

$       29,052

2 %

3 %

2 %

2 %

     Stock-based compensation (3)

3,974

(3,974)

–

3,547

(3,547)

–

12 %

*

12 %

*

     Amortization of intangible assets (4)

3,010

(3,010)

–

3,582

(3,582)

–

(16 %)

*

(16 %)

*

     Acquisition related and other

314

(314)

–

190

(190)

–

65 %

*

64 %

*

     Restructuring

404

(404)

–

490

(490)

–

(18 %)

*

(18 %)

*

OPERATING INCOME

$       15,353

$    7,702

$       23,055

$       13,093

$    7,809

$      20,902

17 %

10 %

16 %

10 %

OPERATING MARGIN %

29 %

44 %

26 %

42 %

278 bp.

169 bp.

271 bp.

169 bp.

INCOME TAX EFFECTS (5)

$        (1,274)

$   (2,459)

$        (3,733)

$           (623)

$   (2,136)

$       (2,759)

105 %

35 %

103 %

35 %

NET INCOME 

$       10,467

$    5,243

$       15,710

$         8,503

$    5,673

$      14,176

23 %

11 %

22 %

10 %

DILUTED EARNINGS PER SHARE

$           3.71

$           5.56

$           3.07

$          5.12

21 %

9 %

20 %

8 %

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,823

–

2,823

2,766

–

2,766

2 %

2 %

2 %

2 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read
only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the
reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for
assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for
entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the respective periods.

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Year Ended

Year Ended

May 31,
 2024

May 31,
 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            525

$      (525)

$               –

$            435

$      (435)

$               –

     Hardware

23

(23)

–

18

(18)

–

     Services

167

(167)

–

137

(137)

–

     Sales and marketing

667

(667)

–

611

(611)

–

     Research and development

2,225

(2,225)

–

1,983

(1,983)

–

     General and administrative

367

(367)

–

363

(363)

–

           Total stock-based compensation

$         3,974

$   (3,974)

$               –

$         3,547

$   (3,547)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:

     Fiscal 2025

$         2,303

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Thereafter

1,080

           Total intangible assets, net

$         6,890

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 10.9% and 6.8% in fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 19.2% and 16.3% in fiscal
2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-based compensation
expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an
income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*

Not meaningful

 

 

 

ORACLE  CORPORATION

FISCAL 2024 FINANCIAL RESULTS

CONDENSED CONSOLIDATED BALANCE SHEETS

($ in millions)

May 31,

May 31,

2024

2023

ASSETS

Current Assets:

Cash and cash equivalents

$   10,454

$      9,765

Marketable securities

207

422

Trade receivables, net

7,874

6,915

Prepaid expenses and other current assets

4,019

3,902

Total Current Assets

22,554

21,004

Non-Current Assets:

   Property, plant and equipment, net

21,536

17,069

   Intangible assets, net

6,890

9,837

   Goodwill, net

62,230

62,261

   Deferred tax assets

12,273

12,226

   Other non-current assets

15,493

11,987

Total Non-Current Assets

118,422

113,380

TOTAL ASSETS

$ 140,976

$ 134,384

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Notes payable and other borrowings, current 

$   10,605

$      4,061

Accounts payable

2,357

1,204

Accrued compensation and related benefits

1,916

2,053

Deferred revenues

9,313

8,970

Other current liabilities

7,353

6,802

Total Current Liabilities

31,544

23,090

Non-Current Liabilities:

Notes payable and other borrowings, non-current

76,264

86,420

Income taxes payable

10,817

11,077

Deferred tax liabilities

3,692

5,772

Other non-current liabilities

9,420

6,469

Total Non-Current Liabilities

100,193

109,738

Stockholders’ Equity

9,239

1,556

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$ 140,976

$ 134,384

 

 

 

ORACLE  CORPORATION 

FISCAL 2024 FINANCIAL RESULTS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

($ in millions)

Year Ended May 31,

2024

2023

Cash Flows From Operating Activities:

Net income 

$      10,467

$        8,503

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

3,129

2,526

Amortization of intangible assets

3,010

3,582

Deferred income taxes

(2,139)

(2,167)

Stock-based compensation

3,974

3,547

Other, net

720

661

Changes in operating assets and liabilities, net of effects from acquisitions:

Increase in trade receivables, net

(965)

(151)

Decrease in prepaid expenses and other assets

542

317

Decrease in accounts payable and other liabilities

(594)

(281)

Decrease in income taxes payable

(127)

(153)

Increase in deferred revenues

656

781

   Net cash provided by operating activities

18,673

17,165

Cash Flows From Investing Activities:

Purchases of marketable securities and other investments

(1,003)

(1,181)

Proceeds from sales and maturities of marketable securities and other investments

572

1,113

Acquisitions, net of cash acquired

(63)

(27,721)

Capital expenditures

(6,866)

(8,695)

   Net cash used for investing activities

(7,360)

(36,484)

Cash Flows From Financing Activities:

Payments for repurchases of common stock

(1,202)

(1,300)

Proceeds from issuances of common stock

742

1,192

Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(2,040)

(1,203)

Payments of dividends to stockholders

(4,391)

(3,668)

(Repayments of) proceeds from issuances of commercial paper, net

(167)

500

Proceeds from issuances of senior notes and other borrowings, net of issuance costs

–

33,494

Repayments of senior notes and other borrowings

(3,500)

(21,050)

Other, net

4

(55)

   Net cash (used for) provided by financing activities

(10,554)

7,910

Effect of exchange rate changes on cash and cash equivalents

(70)

(209)

Net increase (decrease) in cash and cash equivalents

689

(11,618)

Cash and cash equivalents at beginning of period

9,765

21,383

Cash and cash equivalents at end of period

$      10,454

$        9,765

 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 FREE CASH FLOW – TRAILING 4-QUARTERS (1) 

 ($ in millions) 

 Fiscal 2023 

 Fiscal 2024 

 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 

GAAP Operating Cash Flow

$            10,542

$            15,073

$            15,503

$            17,165

$            17,745

$            17,039

$            18,239

$            18,673

Capital Expenditures

(5,168)

(6,678)

(8,205)

(8,695)

(8,290)

(6,935)

(5,981)

(6,866)

Free Cash Flow

$               5,374

$               8,395

$               7,298

$               8,470

$               9,455

$            10,104

$            12,258

$            11,807

Operating Cash Flow % Growth over prior year

(31 %)

47 %

49 %

80 %

68 %

13 %

18 %

9 %

Free Cash Flow % Growth over prior year

(57 %)

18 %

11 %

68 %

76 %

20 %

68 %

39 %

GAAP Net Income

$               5,808

$               8,797

$               8,373

$               8,503

$               9,375

$            10,137

$            10,642

$            10,467

Operating Cash Flow as a % of Net Income

182 %

171 %

185 %

202 %

189 %

168 %

171 %

178 %

Free Cash Flow as a % of Net Income

93 %

95 %

87 %

100 %

101 %

100 %

115 %

113 %

(1)   To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations.
       We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered in
       isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.

 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) 

 ($ in millions) 

 Fiscal 2023 

 Fiscal 2024 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

REVENUES BY OFFERINGS

 Cloud services 

$    3,579

$    3,813

$    4,053

$    4,437

$   15,881

$    4,635

$    4,775

$    5,054

$    5,311

$   19,774

 License support 

4,838

4,785

4,870

4,933

19,426

4,912

4,864

4,909

4,923

19,609

 Cloud services and license support 

8,417

8,598

8,923

9,370

35,307

9,547

9,639

9,963

10,234

39,383

 Cloud license and on-premise license 

904

1,435

1,288

2,152

5,779

809

1,178

1,256

1,838

5,081

 Hardware 

763

850

811

850

3,274

714

756

754

842

3,066

 Services  

1,361

1,392

1,376

1,465

5,594

1,383

1,368

1,307

1,373

5,431

                 Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

AS REPORTED REVENUE GROWTH RATES 

Cloud services

45 %

43 %

45 %

54 %

47 %

30 %

25 %

25 %

20 %

25 %

License support

(1 %)

(2 %)

0 %

4 %

0 %

2 %

2 %

1 %

0 %

1 %

 Cloud services and license support 

14 %

14 %

17 %

23 %

17 %

13 %

12 %

12 %

9 %

12 %

 Cloud license and on-premise license 

11 %

16 %

0 %

(15 %)

(2 %)

(10 %)

(18 %)

(3 %)

(15 %)

(12 %)

 Hardware 

0 %

11 %

2 %

(1 %)

3 %

(6 %)

(11 %)

(7 %)

(1 %)

(6 %)

 Services  

74 %

74 %

74 %

76 %

75 %

2 %

(2 %)

(5 %)

(6 %)

(3 %)

          Total revenues

18 %

18 %

18 %

17 %

18 %

9 %

5 %

7 %

3 %

6 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

Cloud services

50 %

48 %

48 %

55 %

50 %

29 %

24 %

24 %

20 %

24 %

License support

4 %

4 %

3 %

6 %

4 %

0 %

0 %

1 %

1 %

0 %

 Cloud services and license support  

20 %

20 %

20 %

25 %

21 %

12 %

11 %

11 %

10 %

11 %

 Cloud license and on-premise license 

19 %

23 %

4 %

(14 %)

2 %

(11 %)

(19 %)

(3 %)

(14 %)

(12 %)

 Hardware  

5 %

16 %

4 %

1 %

6 %

(8 %)

(12 %)

(7 %)

0 %

(7 %)

 Services  

84 %

83 %

80 %

78 %

81 %

1 %

(3 %)

(5 %)

(6 %)

(3 %)

          Total revenues 

23 %

25 %

21 %

18 %

22 %

8 %

4 %

7 %

4 %

6 %

CLOUD SERVICES AND LICENSE SUPPORT REVENUES

BY ECOSYSTEM

 Applications cloud services and license support 

$    4,016

$    4,080

$    4,166

$    4,390

$   16,651

$    4,471

$    4,474

$    4,584

$    4,642

$   18,172

 Infrastructure cloud services and license support 

4,401

4,518

4,757

4,980

18,656

5,076

5,165

5,379

5,592

21,211

          Total cloud services and license support revenues

$    8,417

$    8,598

$    8,923

$    9,370

$   35,307

$    9,547

$    9,639

$    9,963

$  10,234

$   39,383

AS REPORTED REVENUE GROWTH RATES 

 Applications cloud services and license support 

32 %

30 %

31 %

36 %

32 %

11 %

10 %

10 %

6 %

9 %

 Infrastructure cloud services and license support 

2 %

3 %

7 %

14 %

6 %

15 %

14 %

13 %

12 %

14 %

          Total cloud services and license support revenues

14 %

14 %

17 %

23 %

17 %

13 %

12 %

12 %

9 %

12 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

 Applications cloud services and license support 

37 %

35 %

33 %

37 %

35 %

11 %

9 %

10 %

6 %

9 %

 Infrastructure cloud services and license support 

7 %

9 %

10 %

15 %

10 %

14 %

12 %

13 %

13 %

13 %

          Total cloud services and license support revenues

20 %

20 %

20 %

25 %

21 %

12 %

11 %

11 %

10 %

11 %

GEOGRAPHIC REVENUES

 Americas 

$    7,192

$    7,786

$    7,671

$    8,577

$   31,226

$    7,841

$    8,067

$    8,270

$    8,945

$   33,122

 Europe/Middle East/Africa 

2,691

2,895

3,067

3,457

12,109

3,005

3,170

3,316

3,539

13,030

 Asia Pacific 

1,562

1,594

1,660

1,803

6,619

1,607

1,704

1,694

1,803

6,809

          Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

(1)   The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding.

(2)   We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how
       our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies
       other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023 and 2022 for the fiscal 2024 and fiscal 2023 constant currency growth rate calculations
       presented, respectively, rather than the actual exchange rates in effect during the respective periods.

 

APPENDIX A

ORACLE CORPORATION
Q4 FISCAL 2024 FINANCIAL RESULTS
EXPLANATION OF NON-GAAP MEASURES

To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses, income tax effects and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses, income tax effects and net income measures. Amortization of intangible assets is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. Amortization of intangible assets will recur in future periods.Acquisition related and other expenses; and restructuring expenses: We have excluded the effect of acquisition related and other expenses and the effect of restructuring expenses from our non-GAAP operating expenses, income tax effects and net income measures. We incurred expenses in connection with our acquisitions and also incurred certain other operating expenses or income, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related and other expenses consisted of personnel related costs for transitional and certain other employees, certain business combination adjustments including certain adjustments after the measurement period has ended, and certain other operating items, net. Restructuring expenses consisted of employee severance and other exit costs. We believe it is useful for investors to understand the effects of these items on our total operating expenses. Although acquisition related and other expenses and restructuring expenses may diminish over time with respect to past acquisitions and/or strategic initiatives, we generally will incur certain of these expenses in connection with any future acquisitions and/or strategic initiatives.

 

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SOURCE Oracle Corporation

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ADX welcomes Morgan Stanley as the first international investment bank Remote Trading Member, expanding global access to Abu Dhabi’s capital markets

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May 5, 2026

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ABU DHABI, UAE, May 5, 2026 /PRNewswire/ — The Abu Dhabi Securities Exchange (ADX) Group today announced that Morgan Stanley, a leading investment bank and financial services company, has joined the ADX as its first international investment bank Remote Trading Member — enabling Morgan Stanley’s clients to access the ADX directly.

This milestone strengthens ADX’s global connectivity and supports growing international institutional demand for exposure to UAE markets. It also reinforces its position as one of the world’s fastest-growing exchanges by market capitalization, while highlighting the market’s continued progress in depth, liquidity, and inclusion in major global indices.

Remote membership enables Morgan Stanley to provide its clients with direct market access to the ADX, with trading conducted via the firm’s global trading platform. The ADX continues to play a pivotal role in advancing Abu Dhabi’s long-term economic ambitions, as a mechanism for a diversified, innovation-led, knowledge-based economy.

Morgan Stanley’s direct trading access to ADX reflects the strength of Abu Dhabi’s investment proposition and the continued institutionalization of UAE capital markets. Morgan Stanley’s membership will enhance execution quality, optimize order routing, and provide greater control across the end-to-end trade lifecycle, delivering an advanced trading experience for global investors.

The structure follows a proven international access model used by Morgan Stanley and is designed to meet growing client demand for efficient, transparent, and seamless access to ADX-listed opportunities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX) Group, said: “This marks a significant step in advancing our ambition to be a leading financial marketplace that drives opportunity and sustainable economic growth. This momentum is reflected in the strong foreign investor participation, with trading value exceeding 85 billion dirhams in the first quarter of 2026 up by 22% year on year. This performance underscores the growing depth and global relevance of our market, while reinforcing our commitment to expanding international access, strengthening cross-border connectivity, and building a world-class market infrastructure that attracts global capital, supports a diverse range of issuers and contributes to Abu Dhabi’s long-term economic prosperity.”

Patrick Delivanis, Regional Co-Head of MENA at Morgan Stanley, said: “Becoming a Remote Trading Member of ADX reflects our focus on providing clients with efficient, seamless access to Abu Dhabi’s capital markets through our market–leading trading platform. We see continued momentum in the institutionalization and international participation of UAE markets, and we’re pleased to support that evolution by enabling international investors to access opportunities in MENA with direct connectivity to local markets, alongside greater transparency and control across the trading lifecycle.”

Morgan Stanley’s participation aligns with ADX’s strategy to strengthen international connectivity, with remote memberships selectively offered to global firms to attract high-quality cross-border liquidity. The announcement builds on the ADX’s expansion momentum: in 2025, foreign investment rose by nearly 14% and institutional trading increased by 10% year on year. Subject to final operational readiness, Morgan Stanley expects to begin trading as a remote member in the coming weeks.

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Abu Dhabi Securities Exchange (ADX)
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae

 

 

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SOURCE Abu Dhabi Securities Exchange (ADX)

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Geotab integrates Polestar vehicles into its OEM telematics network

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May 5, 2026

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Fleet operators across North America, Europe, and APAC can now access Polestar vehicle data directly in MyGeotab — no aftermarket hardware required.

LONDON, UK, May 5, 2026 /PRNewswire/ — Geotab, a global leader in connected vehicle and asset management solutions, today announced the integration of Polestar vehicles into its OEM telematics network, giving commercial fleet operators seamless access to Polestar data within MyGeotab from day one — with no aftermarket hardware installation required. The integration is available globally across North America, Europe, and Asia Pacific, supporting all Polestar models.

Developed in collaboration with Geotab, among other telematics service providers, Polestar Fleet Telematics integrates directly into MyGeotab. The Geotab integration enables fleet managers to manage Polestar vehicles alongside all other makes and models on a single unified platform — without fitting additional devices.

Connected vehicle data where it matters most

Through Polestar Fleet Telematics, fleet operators gain near-real-time access to a comprehensive dataset — covering EV battery and charging status, location, tyre information, vehicle security, maintenance alerts, and climate data — flowing directly from Polestar’s connected vehicle architecture into MyGeotab, with no physical installation required.

This breadth of data enables fleet managers to move from reactive to proactive operations — scheduling maintenance before failures occur, optimising charge planning across depots, and maintaining duty-of-care oversight across the entire fleet.

Supporting Europe’s Mixed-Fleet Reality

OEM-embedded telematics removes the need for aftermarket device installation across mixed-manufacturer fleets, reducing logistical overhead and supporting compliance with works council and GDPR requirements — a critical consideration for European fleet operators.

“Polestar Fleet Telematics combines sustainability with intelligence, integrating seamlessly with Geotab to deliver these capabilities directly into the platforms fleet operators trust. Continuous data visibility enables more efficient and informed fleet operations, from day-to-day management to long-term planning. By leveraging Polestar vehicles’ embedded connectivity, fleet managers can make smarter, data-driven decisions — without adding hardware or complexity to their operations.” said Emma Knapp, Manager of Global Key Accounts at Polestar.

Polestar joins an OEM telematics network that already spans over 80% of leading global vehicle manufacturers by fleet market share, including BMW Group, Ford, Stellantis, Volkswagen Group, and Volvo Cars. For fleet operators already using MyGeotab, Polestar vehicles can be connected and deliver data without any additional hardware or installation.

“OEM-embedded telematics represents a change in how fleet data reaches the platform — and Polestar’s connected vehicle architecture makes this integration particularly well-suited for markets that are seriously considering transitioning to electric vehicles.” said Christoph Ludewig, Vice President OEM Global at Geotab. “Fleet operators managing mixed EV and internal combustion engine fleets no longer need separate tools or hardware for each vehicle type. Polestar data flows directly into MyGeotab alongside every other vehicle in the fleet — giving operators the consolidated visibility they need to drive efficiency, support duty of care, and manage their EV transition with confidence.”

Global Availability

The integration is available now across North America, Europe, and Asia Pacific, supporting all Polestar models. Fleet managers can activate the service via the Geotab Marketplace or by contacting their Geotab representative.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific.

Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include the Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

About Geotab

Geotab is a global leader in connected vehicle and asset management solutions, with headquarters in Oakville, Ontario and Atlanta, Georgia. Our mission is to make the world safer, more efficient, and sustainable. We leverage advanced data analytics and AI to transform fleet performance and operations, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve approximately 100,000 global customers, processing 100 billion data points daily from more than 5 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Geotab Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com/uk and follow us on LinkedIn or visit our blog.

GEOTAB and GEOTAB MARKETPLACE are registered trademarks of Geotab Inc. in Canada, the United States and/or other countries.

Media Contact: Geotab Contact, Romina Dashghachian, Strategic Communications Lead, EMEA, pr@geotab.com

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IDX Opens Geneva Office and Strengthens Global Data & Insights Capability

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May 5, 2026

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New Swiss presence and specialist team integration support growing global demand for evidence-based, defensible communications strategies

LONDON, May 5, 2026 /PRNewswire/ — IDX today announced the opening of its new Geneva office and the integration of a specialist Data & Insights team, strengthening the company’s international footprint and expanding its ability to help clients worldwide build communications strategies grounded in evidence, market intelligence and audience insight.

The expansion gives IDX an on-the-ground presence in Switzerland while adding further depth to its Data & Insights capability. The Geneva-based team will work closely with IDX specialists across performance marketing and corporate communications, helping clients develop a clearer view of the markets they operate in and the forces shaping their growth.

The move aligns with Destination 250 – Customers First, IDX’s global strategy to grow its team by 250, focused on deepening client value, strengthening delivery and investing in the capabilities that matter most to clients.

The investment strengthens the Data pillar of IDX’s Connected Content™ model, which combines Creative, Data, Technology and Media to create what IDX calls The Multiplier Effect, helping clients multiply what matters through more connected, measurable and effective work.

“IDX is experiencing phenomenal growth, and our new Geneva office gives us boots on the ground to better serve clients across Europe and globally across performance marketing, investor relations and corporate communications,” said Crispin Beale, Worldwide CEO, IDX. “Data has been at the heart of this business for decades, and this centre of excellence reflects our continued investment in that capability. It’s an incredibly exciting time for IDX, and I look forward to the next phase of our growth as we continue to expand globally.”

“This is an exciting step in IDX’s growth story and a clear response to what clients are asking for: more evidence-based thinking, stronger market context and clearer rationale behind their communications strategies,” said Chris Corrigan, Chief Customer Growth Officer, IDX. “Our new presence in Geneva, combined with deeper Data & Insights expertise, strengthens the way we support clients globally, giving them earlier access to the insight and market context they need to make better-informed decisions and turn evidence into action.”

The Geneva office will strengthen relationships with existing clients in the region, support re-engagement with former partners and create new opportunities for IDX with organisations operating across European and global markets. It reflects IDX’s continued investment in the capabilities that matter most to clients as communications, marketing and corporate reputation work become increasingly data-led and commercially accountable.

“IDX’s integrated offer across insights, performance marketing and corporate communications, powered by the combination of human intelligence, advanced technology and AI, represents exactly where the industry is heading,” said Lonneke de Roo, Head of Data & Insights, IDX. “I am delighted to join the business and help clients navigate increasingly complex markets with clearer evidence, sharper insight and more connected strategies.”

ABOUT IDX  

IDX is a global strategic communications and marketing agency, headquartered in London with offices around the world, including New York, London, Phoenix, Helsinki, Gothenburg, Geneva, and Vadodara. Working with more than 1,600 clients across sectors, IDX combines deep industry knowledge with a data-first mindset to help ambitious brands thrive in complex, fast-moving markets. The firm specialises in performance marketing, investor relations, and stakeholder engagement, delivering integrated campaigns that drive meaningful business outcomes. Visit www.idx.inc to learn more.

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