Technology
Analog Devices Reports Record Fiscal Third Quarter 2026 Financial Results
Published
3 months agoon
By
Revenue of $4.02 billion, with year-over-year growth led by Data Center and IndustrialOperating cash flow of $5.5 billion and free cash flow of $4.9 billion on a trailing twelve-month basis or 40% and 36% of revenue, respectivelyReturned $1.7 billion to shareholders via dividends and share repurchases in the third quarter
WILMINGTON, Mass., Aug. 19, 2026 /PRNewswire/ — Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its fiscal third quarter 2026, which ended August 1, 2026.
“ADI delivered a strong third quarter, exceeding the midpoint of our revenue, margin, and earnings outlook as we capitalized on broad-based demand,” said Vincent Roche, CEO and Chair. “We continue to extend our leadership through a powerful combination of innovation, deep customer collaboration, and manufacturing agility. Our investments in these foundational areas, combined with the trust we have built over decades, provide a unique advantage to create, deliver, and capture value in the AI era – for customers and investors alike.”
“Demand continued to strengthen across our product portfolio and regions throughout the third quarter, which is reflected in our record fourth quarter outlook” said Richard Puccio, CFO. “We believe our balance of disciplined execution and targeted growth investments will enable us to finish the year strongly and carry that momentum into fiscal 2027.”
Performance for the Third Quarter of Fiscal 2026
Results Summary(1)
(in millions, except per-share amounts and percentages)
Three Months Ended
Aug. 1, 2026
Aug. 2, 2025
Change
Revenue
$ 4,022
$ 2,880
40 %
Gross margin
$ 2,708
$ 1,790
51 %
Gross margin percentage
67.3 %
62.1 %
520 bps
Operating income
$ 1,613
$ 818
97 %
Operating margin
40.1 %
28.4 %
1,170 bps
Diluted earnings per share
$ 2.74
$ 1.04
163 %
Adjusted Results(2)
Adjusted gross margin
$ 2,917
$ 1,995
46 %
Adjusted gross margin percentage
72.5 %
69.2 %
330 bps
Adjusted operating income
$ 2,010
$ 1,215
65 %
Adjusted operating margin
50.0 %
42.2 %
780 bps
Adjusted diluted earnings per share
$ 3.45
$ 2.05
68 %
Three Months
Ended
Trailing Twelve
Months
Cash Generation
Aug. 1, 2026
Aug. 1, 2026
Net cash provided by operating activities
$ 1,604
$ 5,545
% of revenue
40 %
40 %
Capital expenditures
$ (146)
$ (608)
Free cash flow(2)
$ 1,458
$ 4,937
% of revenue
36 %
36 %
Three Months
Ended
Trailing Twelve
Months
Cash Return
Aug. 1, 2026
Aug. 1, 2026
Dividend paid
$ (535)
$ (2,043)
Stock repurchases
(1,157)
(3,127)
Total cash returned
$ (1,692)
$ (5,170)
(1) The sum and/or computation of the individual amounts may not equal the total due to rounding.
(2) Reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures are provided
in the financial tables included in this press release. See also the “Non-GAAP Financial Information” section for additional information.
Outlook for the Fourth Quarter of Fiscal Year 2026
For the fourth quarter of fiscal 2026, we are forecasting revenue of $4.3 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 42.6%, +/-150 bps, and adjusted operating margin of approximately 52.0%, +/-100 bps. We are planning for reported EPS to be $3.14, +/-$0.15, and adjusted EPS to be $3.86, +/-$0.15.
Our fourth quarter fiscal 2026 outlook is based on current expectations and actual results may differ materially as a result of, among other things, the important factors discussed at the end of this release. The statements about our fourth quarter fiscal 2026 outlook supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.
The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release. See also the “Non-GAAP Financial Information” section for additional information.
Dividend Payment
The ADI Board of Directors has declared a quarterly cash dividend of $1.10 per outstanding share of common stock. The dividend will be paid on September 15, 2026 to all shareholders of record at the close of business on September 1, 2026.
Conference Call Scheduled for Today, Wednesday, August 19, 2026 at 10:00 am ET
ADI will host a conference call to discuss our third quarter fiscal 2026 results and short-term outlook today, beginning at 10:00 am ET. Investors may join via webcast, accessible at investor.analog.com.
Non-GAAP Financial Information
This release includes non-GAAP financial measures that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (GAAP) and may be different from non-GAAP measures presented by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. These non-GAAP measures have material limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and should not be considered in isolation from, or as a substitute for, the Company’s financial results presented in accordance with GAAP. The Company’s use of non-GAAP measures, and the underlying methodology when including or excluding certain items, is not necessarily an indication of the results of operations that may be expected in the future, or that the Company will not, in fact, record such items in future periods. You are cautioned not to place undue reliance on these non-GAAP measures. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release.
Management uses non-GAAP measures internally to evaluate the Company’s operating performance from continuing operations against past periods and to budget and allocate resources in future periods. These non-GAAP measures also assist management in evaluating the Company’s core business and trends across different reporting periods on a consistent basis. Management also uses these non-GAAP measures as primary performance measurements when communicating with analysts and investors regarding the Company’s earnings results and outlook and believes that the presentation of these non-GAAP measures is useful to investors because it provides investors with the operating results that management uses to manage the Company and enables investors and analysts to evaluate the Company’s core business. Management also believes that free cash flow, a non-GAAP liquidity measure, is useful both internally and to investors because it is indicative of the Company’s ability to pay dividends, purchase common stock, make investments and fund acquisitions and, in the absence of refinancings, to repay its debt obligations.
The non-GAAP financial measures referenced by ADI in this release include: adjusted gross margin, adjusted gross margin percentage, adjusted operating expenses, adjusted operating expenses percentage, adjusted operating income, adjusted operating margin, adjusted nonoperating expense (income), adjusted income before income taxes, adjusted provision for income taxes, adjusted tax rate, adjusted diluted earnings per share (EPS), free cash flow, and free cash flow revenue percentage.
Adjusted gross margin is defined as gross margin, determined in accordance with GAAP, excluding: certain acquisition related expenses1, which are described further below. Adjusted gross margin percentage represents adjusted gross margin divided by revenue.
Adjusted operating expenses is defined as operating expenses, determined in accordance with GAAP, excluding: certain acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating expenses percentage represents adjusted operating expenses divided by revenue.
Adjusted operating income is defined as operating income, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating margin represents adjusted operating income divided by revenue.
Adjusted nonoperating expense (income) is defined as nonoperating expense (income), determined in accordance with GAAP, excluding: certain acquisition related expenses1, which is described further below.
Adjusted income before income taxes is defined as income before income taxes, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below.
Adjusted provision for income taxes is defined as provision for income taxes, determined in accordance with GAAP, excluding tax related items4, which are described further below. Adjusted tax rate represents adjusted provision for income taxes divided by adjusted income before income taxes.
Adjusted diluted EPS is defined as diluted EPS, determined in accordance with GAAP, excluding: acquisition related expenses1, acquisition related transaction costs2, special charges, net3, and tax related items4, which are described further below.
Free cash flow is defined as net cash provided by operating activities, determined in accordance with GAAP, less additions to property, plant and equipment, net. Free cash flow revenue percentage represents free cash flow divided by revenue.
1Acquisition Related Expenses: Expenses incurred as a result of current and prior period acquisitions and primarily include expenses associated with the fair value adjustments to debt, property, plant and equipment and amortization of acquisition related intangibles, which include acquired intangibles such as purchased technology and customer relationships. We excluded these costs from our non-GAAP measures because they relate to specific transactions and are not reflective of our ongoing financial performance.
2Acquisition Related Transaction Costs: Costs directly related to the acquisition of Empower Semiconductor, Inc., including legal, accounting and other professional fees as well as integration-related costs. We exclude these costs from our non-GAAP measures because they relate to a specific transaction and are not reflective of our ongoing financial performance.
3Special Charges, Net: Expenses, net, incurred in connection with facility closures, consolidation of manufacturing facilities, severance, other accelerated stock-based compensation expense and other cost reduction efforts or reorganizational initiatives. We excluded these expenses from our non-GAAP measures because apart from ongoing expense savings as a result of such items, these expenses have no direct correlation to the operation of our business in the future.
4Tax Related Items: Income tax effect of the non-GAAP items discussed above. We excluded the income tax effect of these tax related items from our non-GAAP measures because they are not associated with the tax expense on our current operating results.
About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that combat climate change, reliably connect humans and the world, and help drive advancements in automation and robotics, mobility, healthcare, energy and data centers. With revenue of more than $11 billion in FY25, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and X.
Forward-Looking Statements
This press release contains forward-looking statements, which address a variety of subjects including, for example, our statements regarding future financial performance; economic uncertainty; macroeconomic, geopolitical, demand and other market conditions, business cycles, and supply chains; our capital allocation strategy, including future dividends, share repurchases, capital expenditures, investments, and free cash flow returns; expected revenue, operating margin, nonoperating expenses, tax rate, earnings per share, and other financial results; expected market and technology trends and acceleration of those trends; markets, market position, addressable markets, and growth opportunities; expected product solutions, offerings, technologies, capabilities, and applications; the value and importance of, and other benefits related to, our product solutions, offerings, and technologies to our customers; benefits related to our hybrid manufacturing model; benefits related to acquisitions; statements related to seasonality; and other future events. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: economic, political, legal and regulatory uncertainty or conflicts; recently announced and future tariffs and other trade restrictions; changes in export classifications, import and export regulations or duties and tariffs; changes in demand for semiconductor products; performance of independent distributors; manufacturing delays, product and raw materials availability and supply chain disruptions; products may be diverted from our authorized distribution channels; our development of technologies and research and development investments; our ability to compete successfully in the markets in which we operate; our future liquidity, capital needs and capital expenditures; our ability to recruit and retain key personnel; risks related to acquisitions or other strategic transactions; security breaches or other cyber incidents; risks related to the use of artificial intelligence in our business operations, products, and services; adverse results in litigation matters; reputational damage; changes in our estimates of our expected tax rates based on current tax law; risks related to our indebtedness; the discretion of our Board of Directors to declare dividends and our ability to pay dividends in the future; factors impacting our ability to repurchase shares; and uncertainty as to the long-term value of our common stock. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.
Analog Devices and the Analog Devices logo are registered trademarks or trademarks of Analog Devices, Inc. All other trademarks mentioned in this document are the property of their respective owners.
ANALOG DEVICES, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended
Nine Months Ended
Aug. 1, 2026
Aug. 2, 2025
Aug. 1, 2026
Aug. 2, 2025
Revenue
$ 4,021,899
$ 2,880,348
$ 10,805,627
$ 7,943,590
Cost of sales
1,314,355
1,090,600
3,613,309
3,111,929
Gross margin
2,707,544
1,789,748
7,192,318
4,831,661
Operating expenses:
Research and development
533,480
454,251
1,510,203
1,298,980
Selling, marketing, general and administrative
397,326
325,706
1,105,389
913,171
Amortization of intangibles
187,985
187,415
563,285
562,245
Special charges, net
(24,216)
4,348
23,766
69,980
Total operating expenses
1,094,575
971,720
3,202,643
2,844,376
Operating income
1,612,969
818,028
3,989,675
1,987,285
Nonoperating expense (income):
Interest expense
88,728
79,592
262,692
229,559
Interest income
(25,377)
(27,083)
(86,199)
(72,295)
Other, net
3,749
2,110
(3,386)
5,108
Total nonoperating expense (income)
67,100
54,619
173,107
162,372
Income before income taxes
1,545,869
763,409
3,816,568
1,824,913
Provision for income taxes
205,779
244,891
469,302
345,309
Net income
$ 1,340,090
$ 518,518
$ 3,347,266
$ 1,479,604
Shares used to compute earnings per common share – basic
486,021
494,390
487,500
495,560
Shares used to compute earnings per common share – diluted
488,837
496,726
490,317
497,865
Basic earnings per common share
$ 2.76
$ 1.05
$ 6.87
$ 2.99
Diluted earnings per common share
$ 2.74
$ 1.04
$ 6.83
$ 2.97
ANALOG DEVICES, INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except share and per share amounts)
Aug. 1, 2026
Nov. 1, 2025
ASSETS
Current Assets
Cash and cash equivalents
$ 2,165,870
$ 2,499,406
Short-term investments
159,064
1,152,915
Accounts receivable
2,389,577
1,436,075
Inventories
1,931,496
1,656,323
Prepaid expenses and other current assets
426,523
363,342
Total current assets
7,072,530
7,108,061
Non-current Assets
Net property, plant and equipment
3,351,981
3,315,696
Goodwill
27,988,737
26,945,180
Intangible assets, net
7,468,220
8,013,815
Deferred tax assets
1,689,972
1,867,102
Other assets
852,977
742,858
Total non-current assets
41,351,887
40,884,651
TOTAL ASSETS
$ 48,424,417
$ 47,992,712
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable
$ 682,167
$ 543,760
Income taxes payable
461,804
610,370
Debt, current
1,344,855
—
Commercial paper notes
1,005,104
446,639
Accrued liabilities
2,162,324
1,645,032
Total current liabilities
5,656,254
3,245,801
Non-current Liabilities
Long-term debt
6,771,624
8,145,066
Deferred income taxes
1,837,959
2,163,281
Income taxes payable
90,723
100,963
Other non-current liabilities
516,960
521,846
Total non-current liabilities
9,217,266
10,931,156
Shareholders’ Equity
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding
—
—
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 484,565,465 shares
outstanding (489,654,097 on November 1, 2025)
80,762
81,611
Capital in excess of par value
21,288,447
23,349,185
Retained earnings
12,330,779
10,539,541
Accumulated other comprehensive loss
(149,091)
(154,582)
Total shareholders’ equity
33,550,897
33,815,755
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$ 48,424,417
$ 47,992,712
ANALOG DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In thousands)
Three Months Ended
Nine Months Ended
Aug. 1, 2026
Aug. 2, 2025
Aug. 1, 2026
Aug. 2, 2025
Cash flows from operating activities:
Net income
$ 1,340,090
$ 518,518
$ 3,347,266
$ 1,479,604
Adjustments to reconcile net income to net cash provided by operations:
Depreciation
104,455
102,542
315,298
301,323
Amortization of intangibles
389,765
384,750
1,160,358
1,202,179
Stock-based compensation expense
96,255
84,703
263,651
235,108
Deferred income taxes
(161,011)
52,052
(281,941)
(97,318)
Other
(24,104)
(5,699)
(19,377)
(1,496)
Changes in operating assets and liabilities
(141,491)
28,239
(940,740)
(8,008)
Total adjustments
263,869
646,587
497,249
1,631,788
Net cash provided by operating activities
1,603,959
1,165,105
3,844,515
3,111,392
Cash flows from investing activities:
Purchases of short-term available-for-sale investments
—
(1,150,240)
—
(1,150,240)
Maturities of short-term available-for-sale investments
842,840
—
990,657
372,778
Additions to property, plant and equipment, net
(145,662)
(79,153)
(392,677)
(318,399)
Proceeds from sale of property, plant and equipment, net
—
—
—
58,892
Proceeds from sale of a subsidiary, net
96,592
—
96,592
—
Payments for acquisitions, net of cash acquired
(1,500,174)
—
(1,536,049)
(45,652)
Other
(8,543)
(715)
(32,425)
(13,595)
Net cash used for investing activities
(714,947)
(1,230,108)
(873,902)
(1,096,216)
Cash flows from financing activities:
Proceeds from debt
—
1,490,785
—
1,490,785
Debt repayments
—
—
—
(399,998)
Proceeds from commercial paper notes
5,906,409
2,551,168
13,061,198
6,867,508
Payments of commercial paper notes
(5,451,502)
(2,551,223)
(12,502,732)
(6,866,581)
Repurchase of common stock
(1,157,008)
(1,075,152)
(2,446,409)
(1,484,166)
Dividend payments to shareholders
(535,309)
(490,161)
(1,556,028)
(1,437,521)
Proceeds from employee stock plans
61,684
42,767
121,171
104,329
Other
15,668
41,775
18,651
40,317
Net cash (used for) provided by financing activities
(1,160,058)
9,959
(3,304,149)
(1,685,327)
Net (decrease) increase in cash and cash equivalents
(271,046)
(55,044)
(333,536)
329,849
Cash and cash equivalents at beginning of period
2,436,916
2,376,235
2,499,406
1,991,342
Cash and cash equivalents at end of period
$ 2,165,870
$ 2,321,191
$ 2,165,870
$ 2,321,191
ANALOG DEVICES, INC.
REVENUE TRENDS BY END MARKET
(Unaudited)
(In thousands)
The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the “ship to” customer information and the end customer product or application into which our product will be incorporated. The assignment of products to end markets may change over time. When this occurs, we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market.
Three Months Ended
August 1, 2026
August 2, 2025
Revenue
% of Revenue1
Y/Y%
Revenue
% of Revenue1
Industrial
$ 1,971,926
49 %
53 %
$ 1,292,988
45 %
Automotive
998,227
25 %
16 %
857,146
30 %
Communications
654,515
16 %
84 %
354,768
12 %
Consumer
397,231
10 %
6 %
375,446
13 %
Total revenue
$ 4,021,899
100 %
40 %
$ 2,880,348
100 %
Nine Months Ended
August 1, 2026
August 2, 2025
Revenue
% of Revenue1
Y/Y%
Revenue
% of Revenue1
Industrial
$ 5,269,825
49 %
50 %
$ 3,512,896
44 %
Automotive
2,685,246
25 %
9 %
2,454,845
31 %
Communications
1,659,553
15 %
72 %
965,036
12 %
Consumer
1,191,003
11 %
18 %
1,010,813
13 %
Total revenue
$ 10,805,627
100 %
36 %
$ 7,943,590
100 %
1) The sum of the individual percentages may not equal the total due to rounding.
ANALOG DEVICES, INC.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(Unaudited)
(In thousands, except per share amounts)
Three Months Ended
Nine Months Ended
Aug. 1, 2026
Aug. 2, 2025
Aug. 1, 2026
Aug. 2, 2025
Gross margin
$ 2,707,544
$ 1,789,748
$ 7,192,318
$ 4,831,661
Gross margin percentage
67.3 %
62.1 %
66.6 %
60.8 %
Acquisition related expenses
209,192
204,756
619,404
662,865
Adjusted gross margin
$ 2,916,736
$ 1,994,504
$ 7,811,722
$ 5,494,526
Adjusted gross margin percentage
72.5 %
69.2 %
72.3 %
69.2 %
Operating expenses
$ 1,094,575
$ 971,720
$ 3,202,643
$ 2,844,376
Percent of revenue
27.2 %
33.7 %
29.6 %
35.8 %
Acquisition related expenses
(188,594)
(188,015)
(565,089)
(564,045)
Acquisition related transaction costs
(23,391)
—
(23,391)
—
Special charges, net
24,216
(4,348)
(23,766)
(69,980)
Adjusted operating expenses
$ 906,806
$ 779,357
$ 2,590,397
$ 2,210,351
Adjusted operating expenses percentage
22.5 %
27.1 %
24.0 %
27.8 %
Operating income
$ 1,612,969
$ 818,028
$ 3,989,675
$ 1,987,285
Operating margin
40.1 %
28.4 %
36.9 %
25.0 %
Acquisition related expenses
397,786
392,771
1,184,493
1,226,910
Acquisition related transaction costs
23,391
—
23,391
—
Special charges, net
(24,216)
4,348
23,766
69,980
Adjusted operating income
$ 2,009,930
$ 1,215,147
$ 5,221,325
$ 3,284,175
Adjusted operating margin
50.0 %
42.2 %
48.3 %
41.3 %
Nonoperating expense (income)
$ 67,100
$ 54,619
$ 173,107
$ 162,372
Acquisition related expenses
2,150
2,150
6,450
6,450
Adjusted nonoperating expense (income)
$ 69,250
$ 56,769
$ 179,557
$ 168,822
Income before income taxes
$ 1,545,869
$ 763,409
$ 3,816,568
$ 1,824,913
Acquisition related expenses
395,636
390,621
1,178,043
1,220,460
Acquisition related transaction costs
23,391
—
23,391
—
Special charges, net
(24,216)
4,348
23,766
69,980
Adjusted income before income taxes
$ 1,940,680
$ 1,158,378
$ 5,041,768
$ 3,115,353
Provision for income taxes
$ 205,779
$ 244,891
$ 469,302
$ 345,309
Effective income tax rate
13.3 %
32.1 %
12.3 %
18.9 %
Tax related items
48,270
(106,855)
162,938
15,780
Adjusted provision for income taxes
$ 254,049
$ 138,036
$ 632,240
$ 361,089
Adjusted tax rate
13.1 %
11.9 %
12.5 %
11.6 %
Diluted EPS
$ 2.74
$ 1.04
$ 6.83
$ 2.97
Acquisition related expenses
0.81
0.79
2.40
2.45
Acquisition related transaction costs
0.05
—
0.05
—
Special charges, net
(0.05)
0.01
0.05
0.14
Tax related items
(0.10)
0.22
(0.33)
(0.03)
Adjusted diluted EPS*
$ 3.45
$ 2.05
$ 8.99
$ 5.53
* The sum of the individual per share amounts may not equal the total due to rounding.
ANALOG DEVICES, INC.
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
(Unaudited)
(In thousands)
Trailing
Twelve
Months
Three Months Ended
Aug. 1, 2026
Aug. 1, 2026
May 2, 2026
Jan. 31, 2026
Nov. 1, 2025
Revenue
$ 13,881,544
$ 4,021,899
$ 3,623,465
$ 3,160,063
$ 3,076,117
Net cash provided by operating activities
$ 5,545,325
$ 1,603,959
$ 872,041
$ 1,368,515
$ 1,700,810
% of Revenue
40 %
40 %
24 %
43 %
55 %
Capital expenditures
$ (607,830)
$ (145,662)
$ (137,702)
$ (109,313)
$ (215,153)
Free cash flow
$ 4,937,495
$ 1,458,297
$ 734,339
$ 1,259,202
$ 1,485,657
% of Revenue
36 %
36 %
20 %
40 %
48 %
ANALOG DEVICES, INC.
RECONCILIATION OF PROJECTED GAAP TO NON-GAAP RESULTS
(Unaudited)
Three Months Ending October 31, 2026
Reported
Adjusted
Revenue
$4.3 Billion
$4.3 Billion
(+/- $100 Million)
(+/- $100 Million)
Operating margin
42.6 %
52.0 %(1)
(+/-150 bps)
(+/-100 bps)
Nonoperating expense
~$80 Million
~$80 Million
Tax rate
12% – 14%
12% – 14% (2)
Earnings per share
$3.14
$3.86 (3)
(+/- $0.15)
(+/- $0.15)
(1) Includes $405 million of adjustments related to acquisition related expenses as previously defined in the Non-GAAP Financial Information section of this press release.
(2) Includes $53 million of tax effects associated with the adjustment for acquisition related expenses noted above.
(3) Includes $0.72 of adjustments related to the net impact of acquisition related expenses and the tax effects on those items.
For more information, please contact:
Jeff Ambrosi
Senior Director, Investor Relations
Analog Devices, Inc.
781-461-3282
investor.relations@analog.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/analog-devices-reports-record-fiscal-third-quarter-2026-financial-results-302854642.html
SOURCE Analog Devices, Inc.
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Prospa research: Two in three Aussie SMEs want rewards on their bills, yet only 8% are cashing in on supplier payments
Published
2 hours agoon
November 15, 2026By
New Prospa and YouGov research finds SMEs would put an average of nearly $9,400 a month through a rewards-enabled payment platform, while only 8% currently route B2B payments through platforms offering rewards
SYDNEY, Nov. 16, 2026 /PRNewswire/ — Australian small and medium businesses could be missing out on rewards from thousands of dollars in necessary business spending each month, as rising operating costs continue to put pressure on margins.
New research from Australian fintech Prospa and YouGov found 84% of Australian SMEs have experienced rising operational costs, while 80% say unavoidable expenses have squeezed their margins over the past 12 months.
With businesses already paying suppliers, bills and other operating costs, the findings suggest SMEs are increasingly looking for ways to get more value from spending they cannot avoid.
Two in three Australian SMEs would use a rewards-enabled payment platform if given the option, yet only 8% currently use one for B2B payments. SMEs said they would put an average of $9,398 a month through a platform that offered rewards.
Beau Bertoli, Co-Founder and Chief Revenue Officer at Prospa, said: “Every business has regular expenses that need to be paid, regardless of the economic environment. This research shows there is an opportunity for business owners to get more value from those everyday payments, rather than viewing them as simply a cost of doing business.
“Australian SMEs are looking for more value from the unavoidable costs of running a business. Two in three would put overheads through a rewards-enabled payment platform if given the option, yet only 8% currently route B2B payments through one. That gap shows rewards-enabled business payments remain a largely untapped opportunity.”
Most SMEs are not earning rewards on B2B payments
The research found Australian SMEs currently use several methods to earn value from business spending:
23% use a business card that earns points, cashback or rewards.14% negotiate rebates or loyalty benefits directly with suppliers.8% use a B2B payment platform that offers rewards.A further 20% are actively looking for ways to get value or rewards from money they already spend.
“The results show that rewards are already part of how some SMEs approach business spending, although the methods used differ,” Bertoli said.
“For some businesses, this means using rewards cards to get more value from everyday spending. Others are negotiating rebates with suppliers or routing B2B payments through platforms offering rewards. The opportunity is to give more SMEs practical ways to get greater value from spending that is already part of running their business.”
SMEs would put thousands through rewards-enabled business payments
The amount Australian SMEs would put through a rewards-enabled payment platform varied by business size and structure:
Across all SMEs surveyed, the average was $9,398 a month.Non-sole traders would put through an average of $14,682 a month.Sole traders would put through an average of $6,214 a month.One in five SMEs would put at least $10,000 of monthly business spending through one.
Non-sole traders were also more likely to actively look for value or rewards from money they already spend, at 27%, compared with 16% of sole traders.
“The level of interest naturally depends on the size and structure of each business, as every business faces its own unique expenses and payment volumes. That’s why it’s important to recognise that solutions need to be flexible to meet these diverse needs,” Bertoli said.
“We launched Prospa Rewards because small businesses told us they want their everyday spending to work harder. Business owners already have suppliers, bills and other operating costs to pay. This is about helping them get something back from the spending that is part of their business.”
The findings come following the launch of Prospa Rewards, a business rewards platform designed to help eligible Australian small businesses earn value from eligible business payments and transactions they already make.
Eligible customers can earn one Prospa Point for every $1 paid on eligible transactions. Prospa Points can be redeemed for selected business essentials and gift cards, or converted to Qantas Frequent Flyer Points.
Eligibility criteria, transaction requirements and redemption terms apply.
About Prospa
Prospa is a leading fintech committed to unleashing the potential of every small business in Australia and New Zealand. We do this by developing fast, flexible, stress-free lending solutions and financial management tools that help businesses thrive.
At Prospa, we’re deeply committed to making a meaningful impact on the small business community and on our people. Since 2012, Prospa has helped over 45,000 small businesses access over $5 billion in business funding, working with over 20,000 partners, including brokers, accountants, and aggregator partners, to help unlock business funding for their small business clients.
In addition to our commitment to supporting SMEs, Prospa has also been recognised for its workplace practices, culture, and values, culminating in our certification as a Great Place to Work in Australia, a Great Place to Work in Technology, and, in 2025, a Great Place to Work for Women.
For more information about Prospa, visit prospa.com
Methodology
All figures, unless otherwise stated, are from YouGov. Total sample size was 500 adults. Fieldwork was undertaken between 30th July – 13th August 2026. The survey was carried out online. The figures have been weighted and are representative of all Australian business owners and primary decision makers of businesses with fewer than 50 employees (aged 18+).
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/prospa-research-two-in-three-aussie-smes-want-rewards-on-their-bills-yet-only-8-are-cashing-in-on-supplier-payments-302937153.html
SOURCE Prospa
Technology
Prospa research: Two in three Aussie SMEs want rewards on their bills, yet only 8% are cashing in on supplier payments
Published
2 hours agoon
November 15, 2026By
New Prospa and YouGov research finds SMEs would put an average of nearly $9,400 a month through a rewards-enabled payment platform, while only 8% currently route B2B payments through platforms offering rewards
SYDNEY, Nov. 16, 2026 /PRNewswire/ — Australian small and medium businesses could be missing out on rewards from thousands of dollars in necessary business spending each month, as rising operating costs continue to put pressure on margins.
New research from Australian fintech Prospa and YouGov found 84% of Australian SMEs have experienced rising operational costs, while 80% say unavoidable expenses have squeezed their margins over the past 12 months.
With businesses already paying suppliers, bills and other operating costs, the findings suggest SMEs are increasingly looking for ways to get more value from spending they cannot avoid.
Two in three Australian SMEs would use a rewards-enabled payment platform if given the option, yet only 8% currently use one for B2B payments. SMEs said they would put an average of $9,398 a month through a platform that offered rewards.
Beau Bertoli, Co-Founder and Chief Revenue Officer at Prospa, said: “Every business has regular expenses that need to be paid, regardless of the economic environment. This research shows there is an opportunity for business owners to get more value from those everyday payments, rather than viewing them as simply a cost of doing business.
“Australian SMEs are looking for more value from the unavoidable costs of running a business. Two in three would put overheads through a rewards-enabled payment platform if given the option, yet only 8% currently route B2B payments through one. That gap shows rewards-enabled business payments remain a largely untapped opportunity.”
Most SMEs are not earning rewards on B2B payments
The research found Australian SMEs currently use several methods to earn value from business spending:
23% use a business card that earns points, cashback or rewards.14% negotiate rebates or loyalty benefits directly with suppliers.8% use a B2B payment platform that offers rewards.A further 20% are actively looking for ways to get value or rewards from money they already spend.
“The results show that rewards are already part of how some SMEs approach business spending, although the methods used differ,” Bertoli said.
“For some businesses, this means using rewards cards to get more value from everyday spending. Others are negotiating rebates with suppliers or routing B2B payments through platforms offering rewards. The opportunity is to give more SMEs practical ways to get greater value from spending that is already part of running their business.”
SMEs would put thousands through rewards-enabled business payments
The amount Australian SMEs would put through a rewards-enabled payment platform varied by business size and structure:
Across all SMEs surveyed, the average was $9,398 a month.Non-sole traders would put through an average of $14,682 a month.Sole traders would put through an average of $6,214 a month.One in five SMEs would put at least $10,000 of monthly business spending through one.
Non-sole traders were also more likely to actively look for value or rewards from money they already spend, at 27%, compared with 16% of sole traders.
“The level of interest naturally depends on the size and structure of each business, as every business faces its own unique expenses and payment volumes. That’s why it’s important to recognise that solutions need to be flexible to meet these diverse needs,” Bertoli said.
“We launched Prospa Rewards because small businesses told us they want their everyday spending to work harder. Business owners already have suppliers, bills and other operating costs to pay. This is about helping them get something back from the spending that is part of their business.”
The findings come following the launch of Prospa Rewards, a business rewards platform designed to help eligible Australian small businesses earn value from eligible business payments and transactions they already make.
Eligible customers can earn one Prospa Point for every $1 paid on eligible transactions. Prospa Points can be redeemed for selected business essentials and gift cards, or converted to Qantas Frequent Flyer Points.
Eligibility criteria, transaction requirements and redemption terms apply.
About Prospa
Prospa is a leading fintech committed to unleashing the potential of every small business in Australia and New Zealand. We do this by developing fast, flexible, stress-free lending solutions and financial management tools that help businesses thrive.
At Prospa, we’re deeply committed to making a meaningful impact on the small business community and on our people. Since 2012, Prospa has helped over 45,000 small businesses access over $5 billion in business funding, working with over 20,000 partners, including brokers, accountants, and aggregator partners, to help unlock business funding for their small business clients.
In addition to our commitment to supporting SMEs, Prospa has also been recognised for its workplace practices, culture, and values, culminating in our certification as a Great Place to Work in Australia, a Great Place to Work in Technology, and, in 2025, a Great Place to Work for Women.
For more information about Prospa, visit prospa.com
Methodology
All figures, unless otherwise stated, are from YouGov. Total sample size was 500 adults. Fieldwork was undertaken between 30th July – 13th August 2026. The survey was carried out online. The figures have been weighted and are representative of all Australian business owners and primary decision makers of businesses with fewer than 50 employees (aged 18+).
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/prospa-research-two-in-three-aussie-smes-want-rewards-on-their-bills-yet-only-8-are-cashing-in-on-supplier-payments-302937153.html
SOURCE Prospa
Technology
The Pan-Mass Challenge Exceeds 2026 Fundraising Goal with Record-Breaking $80 Million Gift Fueling Lifesaving Research at Dana-Farber Cancer Institute
Published
4 hours agoon
November 15, 2026By
With its largest gift ever, the world’s most successful athletic fundraiser continues to shatter fundraising records at a time when cancer research needs support most
BOSTON, Nov. 15, 2026 /PRNewswire/ — The Pan-Mass Challenge (PMC), a bike-a-thon which has raised more money for charity than any other single athletic fundraising event in the world, today presented a record-breaking $80 million gift to Dana-Farber Cancer Institute, one of the nation’s top three cancer hospitals. Presented at a celebratory brunch at Rochambeau in Boston, this gift brings the PMC’s total contribution to Dana-Farber’s mission to more than $1.2 billion.
For the 20th consecutive year, 100 percent of every rider-raised dollar goes directly to Dana-Farber. Powered by thousands of riders and volunteers from across the world, every dollar raised helps fuel groundbreaking cancer research, lifesaving treatments, and patient care.
“$80 million isn’t just a number. It represents the next clinical trial, the next breakthrough, the next life saved, and the next patient who gets to ring the bell at the end of treatment,” said Billy Starr, PMC founder and chairman. “Now, more than ever, our riders, volunteers, donors, and corporate partners understood exactly what was at stake. They didn’t just meet the moment, they rode right past it. I’ve never been prouder of this community, and I’ve never been more confident that the cures we ride for are within reach.”
The record-breaking gift arrives at a pivotal moment in the nation. While federal research support and grant approval rates are shrinking, cancer rates continue to climb, with more than 20 million new cancer cases projected worldwide in 2026 alone. The PMC’s sustained giving is one of the most essential forces keeping transformative research at Dana-Farber moving forward.
“We are immensely grateful for the PMC’s longstanding support of Dana-Farber,” said Benjamin L. Ebert, MD, PhD, president and CEO of Dana-Farber Cancer Institute and PMC rider. “This unprecedented gift is an important milestone and will be used to shape the future of cancer care and research at Dana-Farber. I am honored to be one of thousands of committed PMC riders and volunteers who have played a role in making a big impact.”
The PMC is Dana-Farber’s single largest contributor, accounting for 67 percent of revenue for the Jimmy Fund, Dana-Farber’s community fundraising arm. But the most significant measure of the PMC’s funding is found in the discoveries that bring new hope to patients and families facing cancer. PMC support helped drive some of Dana-Farber’s most significant recent breakthroughs, including the discovery of menin inhibitors, the improvement of multi-cancer early detection, and the development of new types of cell therapies such as CAR-T cell therapy and tumor-infiltrating lymphocyte (TIL) therapy.
The unprecedented gift reflects a full year of riding and fundraising. In addition to the flagship PMC weekend, crucial funding was supported by the PMC’s further spokes in the wheel, including PMC Winter Cycle, an indoor spin event at Fenway Park; PMC Unpaved, a gravel bike ride; and PMC Kids Rides, mini bike-a-thons for children ages 2 to 15.
The PMC is co-presented by the Red Sox Foundation® and M&T Bank. To learn more, get involved, or donate, visit www.pmc.org.
About the Pan-Mass Challenge
The Pan-Mass Challenge (PMC) is a bike-a-thon that today raises more money for charity than any other single athletic fundraising event in the world. Founded in 1980 by Billy Starr – who remains the event’s founder & chairman, an annual cyclist, and a fundraiser – the PMC has raised $1.2 billion for Dana-Farber Cancer Institute through the Jimmy Fund. As Dana-Farber’s single largest contributor, the organization generates 67 percent of the Jimmy Fund’s annual revenue. 100 percent of every rider-raised dollar goes directly to fueling cancer research and treatment at Dana-Farber. In addition to its two-day bike-a-thon across Massachusetts, the PMC is powered by further “spokes in the wheel,” with initiatives including the PMC Winter Cycle, an indoor spin event, PMC Unpaved, a gravel bike ride, and PMC Kids Rides, mini bike-a-thons for children ages 2 to 15. The PMC attracts riders and volunteers from 44 states and eight countries and over 300,000 individual donors. Across events, the PMC has successfully melded support from committed cyclists, volunteers, corporate sponsors, and individual donors, all of whom are essential to the PMC’s goal and model: to attain maximum fundraising efficiency while increasing its annual gift. The PMC’s aspiration is to provide Dana-Farber’s doctors and researchers with the necessary resources to discover cures for all cancers. For more information, visit www.pmc.org.
About Dana-Farber Cancer Institute
Dana-Farber Cancer Institute is a global leader in cancer research and care, with a mission to reduce the burden of cancer through scientific discovery, clinical excellence, education, community engagement and advocacy. Dana-Farber is dedicated to a unique and equal balance of cancer research and care, offering more than 1,200 clinical trials and translating the results of discovery into new treatments for patients locally and around the world. U.S. News & World Report recognized Dana-Farber Brigham Cancer Center as the Best Hospital for Cancer in Massachusetts and number three in the nation, and Dana-Farber Boston Children’s Cancer and Blood Disorders Center as the Best Children’s Hospital for Cancer in the country, making Dana-Farber the only hospital in the country among the top three for both adult and pediatric cancer care. It is a federally designated Comprehensive Cancer Center and a principal teaching affiliate of Harvard Medical School.
About the Jimmy Fund
The Jimmy Fund is comprised of community-based fundraising events and other programs that, solely and directly, benefit Dana-Farber Cancer Institute’s lifesaving mission to provide compassionate patient care and groundbreaking cancer research for children and adults. Since 1948, the generosity of millions of people has helped the Jimmy Fund save countless lives and reduce the burden of cancer for patients and families worldwide.
The Jimmy Fund is proud of its longstanding partnerships with the Boston Red Sox and the Red Sox Foundation, the Boston Athletic Association, the Massachusetts Chiefs of Police Association, the Pan-Mass Challenge, and Variety Children’s Charity of New England, which was instrumental in the Jimmy Fund’s founding. Follow the Jimmy Fund on Facebook, Instagram, LinkedIn, TikTok, and X: @TheJimmyFund
Contacts
Jenna Lehan, on behalf of the PMC
Jenna@hollywoodagency.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-pan-mass-challenge-exceeds-2026-fundraising-goal-with-record-breaking-80-million-gift-fueling-lifesaving-research-at-dana-farber-cancer-institute-302939737.html
SOURCE Pan-Mass Challenge
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