ADBE vs NET

Adobe reported record Q1 FY2026 results driven in part by AI-related momentum: management highlighted that AI-first ARR more than tripled year-over-year and emphasized accelerating AI-powered capabilities across creativity, productivity and customer experience orchestration. Financials: total revenue $6.40B (+12% YoY), non-GAAP operating income $3.04B, non-GAAP net income $2.49B, operating cash flow $2.96B. Company provided Q2 revenue guidance of $6.43B–$6.48B and EPS guidance (GAAP $4.35–$4.40; Non-GAAP $5.80–$5.85) and reaffirmed FY2026 targets. The release contains strong AI positioning but does not disclose specific AI product names, primitives, developer tooling, or external AI partnerships.

Cloudflare positions itself as the infrastructure platform for an "Agentic Internet," highlighting agents as a new class of web users that drive serverless workloads to Cloudflare Workers and increased demand for the company's performance, security, and networking services. Management ties a record large ACV deal (averaging $42.5M/year) and nearly 50% new ACV growth to this AI/agent-driven demand. No branded Cloudflare AI products were announced, but the company emphasizes agent-focused use cases and edge/serverless execution. Financially, Q4 2025 revenue was $614.5M (up 33.6% YoY), non-GAAP income from operations was $89.6M, non-GAAP net income was $106.8M, and Q4 free cash flow was $99.4M. Cloudflare guided Q1 2026 revenue to $620.0–$621.0M and full-year 2026 revenue to $2,785.0–$2,795.0M, with non-GAAP EPS guidance of $0.23 for Q1 and $1.11–$1.12 for FY2026.