ADBE earnings name for the interval ending September 30, 2024.
Picture supply: The Motley Idiot.
Adobe (ADBE 0.53%)
This fall 2024 Earnings Name
Dec 11, 2024, 5:00 p.m. ET
Contents:
- Ready Remarks
- Questions and Solutions
- Name Contributors
Ready Remarks:
Operator
Good day, and welcome to the This fall and FY ’24 Adobe earnings convention name. As we speak’s convention is being recorded. Presently, I would like to show the convention over to Steve Day, SVP, DX; CFO; and company finance; interim head of IR. Please go forward, sir.
Steve Day — Chief Monetary Officer and Senior Vice President, Digital Expertise
Good afternoon, and thanks for becoming a member of us. With me on the decision at this time are Shantanu Narayen, Adobe’s chair and CEO; David Wadhwani, president of Digital Media; Anil Chakravarthy, president of Digital Expertise; and Dan Durn, government vice chairman and CFO. On this name, which is being recorded, we are going to focus on Adobe’s fourth quarter and financial 12 months 2024 monetary outcomes. You will discover our press launch, in addition to PDFs of our ready remarks and monetary outcomes, on Adobe’s investor relations web site.
The data mentioned on this name, together with our monetary targets and product plans, is as of at this time, December 11, and incorporates forward-looking statements that contain danger, uncertainty, and assumptions. Precise outcomes could differ materially from these set forth in these statements. For extra data on these dangers, please assessment at this time’s earnings launch and Adobe’s SEC filings. On this name, we are going to focus on GAAP and non-GAAP monetary measures.
Our reported outcomes embody GAAP progress charges, in addition to fixed forex charges. Throughout this presentation, Adobe’s executives will check with fixed forex progress charges until in any other case acknowledged. Non-GAAP reconciliations can be found in our earnings launch and on Adobe’s investor relations web site. I’ll now flip the decision over to Shantanu.
Shantanu Narayen — Chairman and Chief Govt Officer
Thanks, Steve. Good afternoon, and thanks for becoming a member of us. In This fall, we achieved income of $5.61 billion, representing 11% year-over-year progress. In our Digital Media enterprise, we delivered document web new ARR of $578 million.
And our Digital Expertise enterprise achieved subscription income of $1.27 billion, representing 12% year-over-year progress. 2024 was a 12 months of information for Adobe. We achieved document income of $21.51 billion, representing 11% year-over-year progress. GAAP earnings per share was $12.36, and non-GAAP earnings per share was $18.42, representing 5% and 15% year-over-year progress, respectively.
We hit a number of new milestones with our AI improvements, enabling us so as to add greater than $2 billion in Digital Media web new ARR and surpass $1 billion within the ending e book of enterprise for Adobe Expertise Platform and native apps. The Digital Expertise enterprise crossed $5 billion in income, making us one of many mission-critical suppliers of selling know-how on the earth. We exited the 12 months with $19.96 billion in RPO and money and short-term investments of $7.89 billion. 2024 was additionally a transformative 12 months of product innovation, the place we delivered foundational know-how platforms.
We launched a number of generative AI fashions within the Adobe Firefly household, together with Imaging, Vector, Design, and most just lately, Video. Adobe now has a complete set of generative AI fashions designed to be commercially protected for artistic content material, providing unprecedented ranges of output high quality and person management in our functions. We reimagined creativity and productiveness for a broader set of consumers with Adobe Categorical, the fast and straightforward create-anything app. The deep integration of Firefly throughout our flagship functions in Inventive Cloud, Doc Cloud, and Expertise Cloud is driving document buyer adoption and utilization.
Firefly powered generations throughout our instruments surpassed 16 billion, with each month this previous quarter setting a brand new document. We enhanced doc productiveness with AI Assistant in Adobe Acrobat and Reader, unlocking even higher worth from the trillions of PDFs world wide. We have efficiently scaled Adobe Expertise Platform and native apps to ship the basic infrastructure required for buyer engagement. We’re accelerating automated decisioning and powering audiences, journeys, and channels to ship actually personalised experiences at scale. We set the stage to drive an AI content material revolution by bringing content material and information collectively in Adobe GenStudio, integrating high-velocity artistic expression with enterprise activation.
The discharge of Adobe GenStudio for Efficiency Advertising integrates Inventive Cloud, Categorical, and Expertise Cloud and extends our end-to-end content material provide chain resolution, empowering freelancers, businesses, and enterprises to speed up the supply of content material, promoting and advertising and marketing campaigns. I am going to now flip it over to David to debate the momentum in our Digital Media enterprise.
David Wadhwani — President, Digital Media
Thanks, Shantanu. Hiya, everybody. In This fall, we achieved web new Digital Media ARR of $578 million and income of $4.15 billion, which grew 12% 12 months over 12 months, fueled by innovation in each our Inventive and Doc companies. We ended the 12 months with simply over $2 billion of web new Digital Media ARR for the primary time ever, because of accelerated product innovation, document site visitors to adobe.com, and engagement on social and cell, in addition to growing worth for enterprise prospects by Firefly Providers and GenStudio, which carry collectively our Inventive and Expertise Clouds.
On the Doc Cloud facet, PDF continues to be the worldwide normal for digital paperwork, and Adobe Acrobat is revolutionizing the best way individuals have interaction with them throughout cell, net, and desktop. We took a serious step ahead in FY ’24 with the introduction of AI Assistant in Acrobat and Reader. AI Assistant and different AI options, like liquid mode and Firefly, are accelerating productiveness by sooner insights, smarter doc enhancing, and built-in picture technology. A latest productiveness examine discovered that customers leveraging AI Assistant accomplished their document-related duties 4 occasions sooner on common.
AI Assistant is now accessible in Acrobat throughout desktop, net, and cell and built-in into our Edge, Chrome, and Microsoft Groups extensions. In This fall, we continued to increase its worth with specialised AI for contracts and scanned paperwork, help for added languages, and the power to investigate bigger paperwork. In Acrobat Net, our integrations with Adobe Categorical enable customers to generate photographs and shortly stylize content material. We noticed AI Assistant conversations double quarter over quarter, driving deeper buyer worth.
In This fall, we achieved Doc Cloud income of $843 million, rising 17% 12 months over 12 months. We set a document for web new Doc Cloud ARR of $173 million, with ending ARR of $3.48 billion, rising 23% 12 months over 12 months. Different highlights embody continued progress of month-to-month lively customers, which grew over 25% 12 months over 12 months, surpassing 650 million paid and free customers; robust high of funnel momentum by Acrobat Net, with month-to-month lively customers up practically 50% 12 months over 12 months; energy in Acrobat Professional single app in each Doc Cloud and Inventive Cloud choices; an amazing back-to-school season with a brand new AI Assistant providing in schooling for college kids. Key enterprise buyer wins embody Abbott Laboratories, BWI GmbH, Protection Info Methods Company, Kaiser Permanente, Novo Nordisk, Truist, U.S.
Mobile, and the U.S. Division of State. Inventive Cloud additionally had a powerful 12 months, as demand for content material continues to develop throughout cell, desktop, and streaming platforms. Adobe MAX, the premier creativity convention, showcased our FY ’24 innovation and drove over half a billion video views throughout all channels.
We now have made main strides with our generative AI fashions with the introduction of Firefly Picture Mannequin 3, enhancements to our Vector fashions, richer design fashions, and the all-new Firefly Video Mannequin. These fashions are extremely highly effective on their very own, and their deep integration into our instruments, like Lightroom, Photoshop, Premiere, InDesign, and Categorical have introduced unimaginable worth to tens of millions of artistic professionals world wide. We now have introduced our Inventive and Expertise Clouds collectively by the introduction of Firefly Providers in GenStudio, addressing the rising want for scaled content material manufacturing in enterprises. Firefly generations proceed to speed up and now have crossed 16 billion cumulative generations.
In This fall, we achieved $3.3 billion in income, which grew 11% 12 months over 12 months. Internet new Inventive Cloud ARR was $405 million. Different highlights embody adoption of Adobe Categorical by roughly 4,000 companies within the quarter and an 84% year-over-year enhance within the variety of college students with entry to Categorical Premium as a part of this 12 months’s back-to-school season. Adobe Categorical noticed robust ecosystem progress, with over 180 plugins accessible within the Categorical market and integrations into main social, productiveness, and collaboration apps like ChatGPT, Google, Slack, Wix, Field, HubSpot, and Webflow, considerably growing our buyer attain.
The launch of the Firefly Video Mannequin and its distinctive integration in Premiere Professional in restricted public beta garnered huge buyer curiosity. And we look ahead to making it extra broadly accessible in early 2025. This function drove a 70% enhance within the variety of Premiere Professional beta customers because it was launched at MAX. Enhancements to Firefly Picture, Vector, and Design fashions embody 4 occasions sooner picture technology and new capabilities built-in into Photoshop, Illustrator, Premiere Professional, and Adobe Categorical.
Robust adoption of Lightroom Cellular, with prospects embracing improvements like generative take away and lens blur, in addition to fast actions, which streamlines enhancing and will increase discovery and adoption of premium options. Simply this morning, Adobe Lightroom was acknowledged because the Mac App of the Yr in Apple’s Annual App Retailer Awards. The launch of the brand new Body.io V4 streamlines artistic administration for video tasks to allow end-to-end enhancing capabilities and seamless collaboration between editors and their stakeholders. Firefly Providers adoption continued to ramp as enterprises, akin to Pepsi and Tapestry, use it to scale content material manufacturing given the strong APIs and ease of making customized fashions which are designed to be commercially protected.
Key enterprise buyer wins embody Alphabet, American Categorical, Coca-Cola, Johnson & Johnson, LVMH, Nestle, Procter & Gamble, T-Cellular, and the U.S. Division of Protection. Our AI product releases and enterprise evolution in FY ’24 has set the stage for one more robust 12 months forward as we increase to new audiences, ship extra worth to present customers, and more and more combine our Digital Media and Digital Expertise clouds to create differentiated enterprise options. We are going to do that by accelerating the adoption of freemium presents, together with Categorical, Lightroom, and Acrobat on net and cell, in addition to increasing entry to Acrobat AI Assistant, which delivered robust monetary efficiency in FY ’24, rising our core artistic enterprise by persevering with to increase our AI improvements in our flagship functions, in addition to bringing them to net and cell.
As well as, we are going to quickly introduce a brand new higher-priced Firefly providing that features our video fashions as a complete AI resolution for artistic professionals. It will enable us to monetize new customers, present extra worth to present prospects, and enhance ARPU. And additional accelerating Firefly Providers, which noticed important demand in FY ’24, by integrating it into GenStudio to supply enterprises with options to exponentially scale their content material manufacturing capabilities with AI. We’re thrilled with the response to our improvements in FY ’24, excited to launch new capabilities, and look ahead to delighting prospects within the 12 months forward.
I am going to now cross it to Anil.
Anil S. Chakravarthy — President, Digital Expertise
Thanks, David. Hiya, everybody. The Expertise Cloud enterprise had a powerful near the 12 months, reaching income of $1.40 billion for the quarter and a document $5.37 billion in income in fiscal 2024. Subscription income within the quarter was $1.27 billion, representing 12% year-over-year progress. The e book of enterprise for Adobe Expertise Platform and native apps, Actual-Time CDP, Buyer Journey Analytics, and Journey Optimizer, surpassed $1 billion within the quarter, with 48 of the Fortune 100 corporations now leveraging these options.
The market alternative for buyer expertise administration is giant and rising. Each B2B and B2C corporations are choosing Adobe as their strategic know-how associate to speed up buyer acquisition, engagement, and retention. Our main options spanning content material, information and buyer journeys empower companies to drive top-line progress whereas concurrently delivering productiveness beneficial properties. The AI improvements we’ve got delivered allow our prospects to speed up the supply of personalised experiences at scale and have been constructed to fulfill enterprise governance necessities.
Adobe Expertise Platform AI Assistant empowers entrepreneurs to automate duties and generate new audiences and journeys. Adobe Expertise Supervisor Generate Variations gives dynamic and personalised content material creation natively by AEM, enabling prospects to ship extra compelling and interesting experiences on their web sites. We’re remodeling the content material provide chain for enterprises with Adobe GenStudio, which natively integrates a number of Adobe functions throughout Inventive Cloud and Expertise Cloud, together with Categorical, Firefly, Workfront, Expertise Supervisor, Buyer Journey Analytics, and Journey Optimizer. GenStudio allows businesses and enterprises to unlock new ranges of creativity and effectivity throughout content material creation and manufacturing, workflow and planning, asset administration, supply and activation, and reporting and insights.
Adobe GenStudio for Efficiency Advertising is a superb addition to the GenStudio portfolio, providing an built-in utility to create paid social adverts, show adverts, banners and advertising and marketing emails by leveraging pre-approved, on-brand content material. It brings collectively artistic groups that outline the foundational necessities of a model, together with tips round model voice, channels and pictures, with advertising and marketing groups that have to ship quite a few content material variations with velocity and agility. We’re seeing robust buyer demand for Adobe GenStudio for Efficiency Advertising since its common availability at MAX. GenStudio is the reply to deal with how advertising and marketing goes to remodel within the period of AI for CMOs, CIOs and CFOs.
Different highlights embody expanded partnership with Amazon to make Adobe Expertise Platform accessible on Amazon Net Providers and lengthen our management throughout public clouds. Enterprises will quickly be capable to entry the complete energy of AEP and native apps on AWS. Integration partnerships with Google’s Marketing campaign Supervisor 360, Meta, Microsoft Promoting, Snap and TikTok, providing advertising and marketing groups a holistic view of marketing campaign efficiency instantly in Adobe GenStudio to optimize the ROI of their advert spend. Robust trade analyst recognition in main analyst experiences, together with the Gartner Magic Quadrant for Digital Commerce and the Forrester Wave for Cross-Channel Advertising Hubs.
Particularly, Gartner acknowledged Adobe’s vital capabilities for multichannel advertising and marketing, akin to our differentiated potential to adapt buyer journeys in actual time based mostly on buyer conduct. AI improvements delivered within the premium tiers, and add-ons helped us shut our largest bookings quarter ever, with key international buyer wins, together with Air Canada, Allianz, American Categorical, Financial institution of America, BMW, Centene, CIBC, Cisco, Disney, Fanatics, GAP, GM, JPMorgan Chase, PayPal, Samsung, Tesco, and Wells Fargo. Digital stays a vital progress crucial for companies world wide. Adobe Digital Insights, which analyzes trillions of information factors, reported that each Black Friday and Cyber Monday gross sales hit document highs of $10.8 billion and $13.3 billion, leaping 10.2% and seven.3% from final 12 months, respectively.
We anticipate the complete vacation season to hit $240.8 billion, up 8.4% 12 months over 12 months. With the supply of our new choices, in FY ’25, Adobe has a singular alternative to capitalize on the breadth of those options to additional optimize our built-in go-to-market area group. We’re increasing our enterprise go-to-market groups to promote these built-in options that minimize throughout Digital Media and Digital Expertise, globally underneath the brand new GenStudio umbrella. We now have seen early success for this technique that included Categorical and Firefly Providers in This fall.
As we allow our worldwide area group in Q1, we anticipate acceleration of this pipeline all through the remainder of the 12 months and past. We’re assured of constant our management and momentum into 2025. I’ll now cross it to Dan.
Daniel J. Durn — Govt Vice President, Chief Monetary Officer
Thanks, Anil. Our earnings report at this time covers each This fall and FY ’24 outcomes, highlighting progress drivers throughout our companies, and I am going to end with monetary targets. We’re happy with the efficiency we’ve got pushed in FY ’24, delivering document income, EPS, and working money Flows whereas aggressively investing in AI product innovation. New AI releases, together with Categorical, Acrobat AI Assistant, Firefly Providers, DX premium tiers, and GenStudio for Efficiency Advertising have expanded the portfolio of merchandise, driving proliferation and significant gen AI monetization.
We had a powerful end to the 12 months with information in Digital Media web new ARR and Digital Expertise bookings. In FY ’24, Adobe achieved document income of $21.51 billion, which represents 11% year-over-year progress as reported and in fixed forex. GAAP EPS for the 12 months was $12.36, and non-GAAP EPS was $18.42, rising 5% and 15% 12 months over 12 months, respectively. FY ’24 enterprise and monetary highlights included Digital Media income of $15.86 billion, web new Digital Media ARR of $2.00 billion, Digital Expertise income of $5.37 billion, money flows from operations of $8.06 billion, RPO of $19.96 billion exiting the 12 months, and repurchasing roughly 17.5 million shares of our inventory through the 12 months.
Within the fourth quarter of FY ’24, Adobe achieved income of $5.61 billion, which represents 11% year-over-year progress as reported and in fixed forex. GAAP diluted earnings per share in This fall was $3.79. And non-GAAP diluted earnings per share was a document $4.81, rising 17% and 13% 12 months over 12 months, respectively. This fall enterprise and monetary highlights included Digital Media income of $4.15 billion, web new Digital Media ARR of $578 million, Digital Expertise income of $1.40 billion, money flows from operations of $2.92 billion, and added $1.82 billion to RPO within the quarter.
Digital Media In our Digital Media phase, we achieved This fall income of $4.15 billion, which represents 12% year-over-year progress as reported and in fixed forex. We exited the quarter with $17.33 billion of Digital Media ARR, rising our ending ARR e book of enterprise 13% 12 months over 12 months in fixed forex. Adobe achieved Doc Cloud income of $843 million, which represents 17% year-over-year progress as reported and in fixed forex. Within the quarter, we added $173 million of web new Doc Cloud ARR, rising our ending ARR e book of enterprise 23% 12 months over 12 months in fixed forex.
Fourth quarter Doc Cloud progress drivers included robust progress throughout Reader and Acrobat on net and cell and extensions akin to Edge and Chrome; Acrobat subscription demand throughout all buyer segments, routes to market and geographies; accelerated adoption and monetization of AI Assistant pushed by product enhancements and supply of French and German language help; and year-end seasonal energy within the enterprise. We achieved Inventive income of $3.30 billion, which represents 10% year-over-year progress, or 11% in fixed forex. Within the quarter, we added $405 million of web new Inventive ARR, rising our ending ARR e book of enterprise 11% 12 months over 12 months in fixed forex. Fourth quarter Inventive progress drivers included robust demand for brand spanking new subscriptions for Inventive Cloud All Apps, throughout people, groups, enterprise, and schooling; energy in Inventive Cloud single apps for Acrobat Professional, Lightroom, and Photoshop; momentum with new subscriptions in rising markets; demand for Adobe Categorical throughout schooling, SMB, and enterprises; and Adoption of Firefly Providers within the enterprise.
Turning to our Digital Expertise phase, in This fall, we achieved income of $1.40 billion, which represents 10% year-over-year progress as reported and in fixed forex. Digital Expertise subscription income was $1.27 billion, rising 13% 12 months over 12 months or 12% in fixed forex. Fourth quarter Digital Expertise progress drivers included robust end to the 12 months, with the largest-ever bookings quarter and strong efficiency throughout geographies together with the U.S. and EMEA and a number of verticals together with monetary providers; robust subscription income progress, led by Adobe Expertise Supervisor, Adobe Journey Optimizer, Actual-Time-Buyer information platform, Buyer Journey Analytics and Workfront; continued energy in retention and growth throughout our enterprise prospects, with Digital Expertise options being leveraged by 85 of the Fortune 100 corporations; momentum with AEP and native apps, in rising higher than FY ’24 ending e book of enterprise surpassing $1.0 billion and rising higher than 40% 12 months over 12 months; and robust bookings for our umbrella GenStudio resolution with curiosity and momentum for our new GenStudio for Efficiency Advertising providing.
Adobe’s efficient tax charge in This fall was 15.5% on a GAAP foundation and 18.5% on a non-GAAP foundation. RPO exiting the quarter was $19.96 billion, rising 16% and cRPO rising 13% 12 months over 12 months as reported. Our money flows from operations within the quarter had been a document $2.92 billion, and ending money and short-term funding place exiting This fall was $7.89 billion. In This fall, we entered right into a $2.5 billion share repurchase settlement, and we at present have $17.65 billion remaining of our $25 billion authorization granted in March 2024.
Now, turning to our FY 2025 monetary targets.We measure ARR on a relentless forex foundation through the fiscal 12 months and revalue ending ARR at year-end. FX charge adjustments between the tip of FY ’23 and the tip of FY ’24 have resulted in a $117 million lower to the Digital Media ARR stability coming into FY ’25, from $17.33 to $17.22 billion and is mirrored in our investor information sheet. We anticipate an approximate $200 million headwind to FY ’25 income because of the impact of international change and a smaller influence of the continued transfer to subscriptions from perpetual choices. Factored into our monetary targets is an ongoing technique to introduce new tiered subscription choices and add-ons.
For FY ’25 we’re concentrating on whole Adobe income of $23.30 to $23.55 billion; Digital Media phase income of $17.25 to $17.40 billion; Digital Media ending ARR e book of enterprise progress of 11% 12 months over 12 months; Digital Expertise phase income of $5.80 to $5.90 billion; Digital Expertise subscription income of $5.375 to $5.425 billion; GAAP earnings per share of $15.80 to $16.10, and non-GAAP earnings per share of $20.20 to $20.50. We anticipate non-GAAP working margin of roughly 46% and a non-GAAP tax charge of roughly 18.5%. For Q1 fiscal ’25, we’re concentrating on whole Adobe income of $5.63 to $5.68 billion, Digital Media phase income of $4.17 to $4.20 billion, Digital Expertise phase income of $1.38 to $1.40 billion, Digital Expertise subscription income of $1.27 to $1.29 billion, GAAP earnings per share of $3.85 to $3.90, and Non-GAAP earnings per share of $4.95 to $5. For Q1, we anticipate non-GAAP working margin of roughly 47% and non-GAAP tax charge of roughly 18.5%.
In abstract, I am happy with our excellent efficiency, which mixes strong product management, velocity of innovation, and monetary self-discipline, positioning us to attain robust income and EPS progress within the 12 months forward. Shantanu, again to you.
Shantanu Narayen — Chairman and Chief Govt Officer
Thanks, Dan. This quarter, Adobe was as soon as once more acknowledged for our distinctive tradition and trade management together with on Forbes World’s Finest Employers, Fortune’s 50 AI Innovators and Fortune’s Finest Workplaces in Know-how, and the Wall Road Journal’s Finest-Managed Corporations checklist. At MAX, we introduced a brand new international initiative aimed toward serving to 30 million next-generation learners develop AI literacy, content material creation, and digital advertising and marketing abilities utilizing Adobe Categorical to thrive within the trendy workforce, working with schooling companions and colleges, nonprofits, and on-line studying platforms to supply coaching, certifications, and profession pathways. Our technique to unleash creativity for all, speed up doc productiveness and energy digital companies represents a large addressable market alternative.
Adobe continues to construct on its robust basis of transformative innovation, class and model management, monetary efficiency, and worthwhile progress. We’re delivering Adobe magic to an increasing set of worldwide prospects and executing on the large market alternative forward. Adobe could not be higher positioned for 2025 and past. Thanks, and we are going to now take questions.
Operator?
Questions & Solutions:
Operator
[Operator instructions] And the primary query will come from Kash Rangan with Goldman Sachs. And, Kash, [Operator instructions] We’ll go subsequent to Michael Turrin with Wells Fargo.
Michael Turrin — Analyst
Hey. Thanks very a lot. Recognize you taking the questions. David, you talked about in your ready remarks a number of issues, specializing in increasing improvements, together with newer higher-priced Firefly choices and doubtlessly accelerating Firefly by integrating additional into GenStudio.
I hoped you would perhaps increase on the way you’re enthusiastic about the adoption curves of these efforts. And as a second half, Dan, should you can simply add any commentary on how, you understand, you are incorporating a few of these newer efforts into forecasts, if there’s conservatism simply given they’re newer, or simply how to consider that, additionally helpful. Thanks.
David Wadhwani — President, Digital Media
Positive, yeah, I am going to go forward and get began. So, AI, clearly, has been an enormous space of focus for us, and, frankly, our neighborhood has been utilizing it at wonderful charges. So, we’re very excited you heard the $16 billion — sorry, not greenback, 16 billion generations that we talked about within the ready remarks. And that is actually a operate of the investments we have made in creating the broadest set of fashions.
You recognize, we have talked about Imaging, Vector, Design previously. We now have Video and Audio in beta kind as properly. And the foundational distinction between what we do and what everybody else does out there actually comes down to a few issues. One is commercially protected, the best way we practice the fashions.
Two is the unimaginable management we bake into the fashions. And three is the combination that we make with these fashions into our merchandise. More and more, in fact, you understand, our CC flagship functions, but in addition in Categorical and Lightroom and these sorts of functions, but in addition in Anil’s DX merchandise as properly. So, that set of issues is a vital a part of the muse and lovable differentiator for us as we go ahead.
Now, as we introduce the Video mannequin, which we anticipate to have in market early subsequent 12 months, that is going to create a possibility to additional tier our Inventive Cloud choices. As you, I am certain, perceive, video technology is a a lot greater worth exercise than picture technology. And in consequence, it offers us the power to begin to tier Inventive Cloud extra actively there. Along with that, we launched this 12 months, we launched Firefly Providers.
That is off to an amazing begin. We now have numerous prospects which are utilizing that. A pair we talked about on the decision embody Tapestry. They’re utilizing it for scaled content material manufacturing.
Pepsi for his or her Gatorade model is enabling their prospects to personalize any merchandise that they are shopping for, particularly beginning with Gatorade bottles. And these have been very, very productive for them. And we’re seeing this leveraged by a number of different corporations for every part from localization at scale to personalization at scale, to person engagement, or simply uncooked content material manufacturing at scale as properly. After which, final, to not get missed in all of this, is every part we’re doing with AI Assistant.
AI Assistant for Acrobat is off to an extremely robust begin, and we see it persevering with to speed up. So, all of this has constructed an amazing basis for us in FY ’24. It is given us numerous sign from our buyer base. And it is actually, we have realized lots that we intend to use as we optimize the worth and the, you understand, the tiering for our prospects going ahead.
Daniel J. Durn — Govt Vice President, Chief Monetary Officer
Yeah. And simply constructing on David’s feedback because it pertains to the FY ’25 information, we speak about the entire nice innovation that is in flight. I’d say the rate of innovation is bigger at this time than it is ever been. We referred to as out merchandise like Categorical, AI Assistant, Firefly, premium tiers in DX, GenStudio.
The great factor is, is that they’re significant contributors at this time to the monetary efficiency and extrapolating the momentum that we see in these merchandise, taking a standpoint on the long run pipeline of innovation, how we carry that to life deeply natively built-in into our merchandise, and additional lengthen the worth we provide to prospects, in addition to the extra segments we are able to entry. All of this comes collectively to take a perspective of what 2025 seems to be like based mostly on the robust begin that we’ve got and the significant contribution in FY ’24.
Michael Turrin — Analyst
Thanks very a lot.
Operator
And we’ll take our subsequent query from Alex Zukin with Wolfe Analysis.
Alex Zukin — Analyst
Hey, guys. Thanks for taking the query. I suppose perhaps to the purpose that you simply simply alluded to by way of the AI being significant as a part of progress narrative for the enterprise, are you able to perhaps speak about the way you’re enthusiastic about the expansion driver from Firefly, from GenStudio? And when — how will we see that percolate by the 12 months by way of the web new Digital Media ARR? Is that one thing that you simply suppose is extra going to be exhibiting up within the DX enterprise? It would be nice to get some colour there. After which, something, Dan, that we should always suppose by, given the brand new steering methodology round seasonality or linearity for web new ARR within the Digital Media enterprise.
David Wadhwani — President, Digital Media
Positive, I am glad to take that. So, to start with, yeah, as we talked about, we’re actually excited in regards to the FY ’24 momentum that we’re seeing that we’re carrying into it. And, you understand, we have had this dialog previously round how we take into consideration the expansion algorithm for the digital media enterprise. So, perhaps type of let me reiterate a bit of little bit of that.
We have talked about this within the context of P occasions Q plus V previously, you understand, the place P is new customers bringing in additional individuals into the franchise. We’re persevering with to do this, clearly, with the introduction of Categorical, we’re seeing numerous nice progress there, whether or not it is by our telephones channel reaching out to SMB, whether or not it is company reaching out to the mid-market, or whether or not it is working extra intently with Anil and the DX enterprise and the integrations we’ve got between Categorical and the DX enterprise, reaching into giant corporations. We’re doing lots by way of proliferation of Categorical into schooling. We’re achieved quite a few partnerships that we talked about with Field, ChatGPT, HubSpot, and others, but in addition our personal merchandise like Acrobat Workflows from Acrobat and Reader into Categorical.
So, actually pushing to drive extra new prospects into the franchise, along with the continued progress that we’re getting in our core artistic merchandise. Second, by way of the core artistic merchandise, that is the place the queue — sorry, I mentioned it backwards. The value truly will increase with core worth as a result of after we are introducing Firefly fashions into the combo, we get the chance to combine them extra into the flagship functions. And as I discussed earlier with the Firefly net utility, we’ve got the chance to create extra tiers throughout the artistic merchandise in order that we are able to get individuals in the fitting plan for his or her wants.
And we’re very bullish about video and the breadth of our buyer base which are going to want entry to those video fashions. Once more, bear in mind they’re built-in deeply into our functions, together with Premiere. So, we’re very enthusiastic about what that would imply for us. After which lastly, the enterprise worth for patrons and enterprise or company, that is the place the value-based promoting that we do together with the digital expertise enterprise actually performs out.
Firefly Providers, as I discussed, with Gatorade, Tapestry, and a complete host of others which have come, everybody on this area is driving towards personalization of that content material, they usually completely want a scale manufacturing and automation pipeline to generate extra content material. That is what Firefly Providers does. And because it has hit this stage of escape velocity, we’re now integrating it extra into the DX merchandise, particularly, GenStudio, in order that it turns into a extra holistic resolution as we go into FY ’25 and speed up that. And that is — you understand, Alex, that is what’s resulting in the information of 11%.
When you actually take a step again, that is among the best guides we have given by way of, you understand, next-year ARR progress. However one factor perhaps to remember is the composition of that progress goes to be a bit of totally different subsequent 12 months in comparison with FY ’24. Once more, the expansion algorithm is new customers, new merchandise, and worth and pricing. New customers and new merchandise can be a extra important a part of the combo as we go into FY ’25.
And we look ahead to type of that foundational base of the enterprise rising and driving the enterprise.
Daniel J. Durn — Govt Vice President, Chief Monetary Officer
After which, simply to construct on that, Alex, and I recognize the query across the form of FY ’25, here is what I am going to share about it. Everyone knows we modified the steering methodology into 2025. The information across the ending ARR e book of enterprise progress, we simply have a powerful standpoint. It is a greater indicator of enterprise well being trajectory.
David talked in regards to the progress algorithm, the expansion agenda, the corporate. New subscribers, the predominant driver of progress, has been, continues to be. The second leg, cross-sell, up-sell, that is one thing the corporate’s honed a very nice talent at over time as soon as we carry individuals into the Adobe ecosystem to journey them by the wealthy set of applied sciences and merchandise that we’ve got to carry them deeper into the ecosystem. That is an essential component.
After which lastly, you understand, David talked about pricing. That is about how we phase the product portfolio, the worth that we ship to our prospects. So, as we take into consideration the innovation, as we take into consideration the expansion algorithm, and as we take into consideration more and more monetizing the wealthy set of innovation that we have already dropped at market, in addition to within the pipeline to be dropped at market, quarterly profile, we view it as much less essential. Actually need to give attention to income and EPS.
Concentrate on the annual e book of enterprise progress. We predict that is a very powerful means to take a look at the enterprise. That is additionally how we because the administration staff run the enterprise.
Alex Zukin — Analyst
Understood. Thanks guys.
Operator
And the following query will come from Kirk Materne with Evercore ISI.
Kirk Materne — Analyst
Yeah. Thanks very a lot. David, I used to be questioning if I might simply comply with up in your final touch upon type of clearly driving new customers, new adoptions, you understand, extremely essential. I simply — is there pricing sensitivity? That means, you are delivering a lot worth.
I feel that pricing, given the worth you are delivering, could be an even bigger lever, you understand, until there’s pricing sensitivity. So, are you able to simply stroll by that a bit of bit extra as a result of it looks like you need to be capable to get type of all three vectors going on the identical time, whereas I do know you are going to focus extra on bringing individuals in and making them profitable. However I am type of — I suppose, is there one thing else on the pricing facet that I am lacking whilst you’re not getting that as properly? Thanks.
David Wadhwani — President, Digital Media
Yeah. We have talked about this within the context of proliferation versus short-term monetization and the way we’ve got to stability each of these, and that is one thing that we take very significantly and we have a look at that. When you have a look at the, you understand, decrease finish of the market as we’ve got entered with Categorical and Lightroom, Acrobat — and by the best way, the net and cell movement for us has been productive in bringing in much more new customers. And so, you will anticipate to see us do extra of that and introduce extra merchandise in that phase in FY ’25 as properly.
And there may be actually worth sensitivity at that facet of the market relating to each premium customers and likewise transformed to paid customers, and we’ll proceed to allow that. With regards to the core enterprise, and that is the enterprise of artistic professionals, we’re very targeted on introducing new worth that’s going to create extra segmentation and extra tiering and, you understand, get aligned worth and pricing to what we’re delivering there. So, we do see an amazing quantity of alternative there going ahead as a result of the worth that we carry and the effectivity we carry to the content material creation course of there may be very important. After which, final and definitely not least, as we talked about in core enterprises, that is the place we have been capable of type of cross that chasm from a P occasions Q enterprise over to a price sale enterprise, and we’re capable of begin to get extra automation and workflows in place there as properly.
So, it is a mixture of this stuff. You recognize, we’re going to proceed to stability. We’re clearly monitoring. And we consider that proliferation, as we have mentioned, you understand, for a while, maintains as one of many high priorities as a result of we all know that if individuals begin utilizing our merchandise at this time, we’ve got the chance to proceed to ship worth for a very long time to return.
And so, that stability is what we attempt to do. And it is a administration judgment name that we expect we’re getting it proper.
Kirk Materne — Analyst
I suppose as a fast follow-up for Dan. Dan, clearly, Black Monday fell into your first quarter this present 12 months. Any colour you possibly can provide by way of what that meant, if in any respect, to Inventive Cloud web new ARR this quarter?
Daniel J. Durn — Govt Vice President, Chief Monetary Officer
Yeah, Black Friday, Cyber Monday performed out about as anticipated. You recognize, we have been speaking a few multiyear development the place business exercise is shifting left by way of timing. We run our promotions over a bigger window of time to mirror client conduct, and we see the same sample commercially from our prospects this 12 months that we have seen in prior years. If we take into consideration, you understand, on-line procuring this 12 months, up 8.4%.
You possibly can see final 12 months, that is up from 4.8%. So, a pleasant step-up this 12 months versus final 12 months. However you possibly can see Cyber Monday from a contribution standpoint, regardless that the expansion final 12 months was down relative to this 12 months. Cyber Monday grew at 9.6%; this 12 months, at 7.3%.
Simply illustrates the flattening of the profile and client conduct round that. So, you understand, efficiency as anticipated.
Kirk Materne — Analyst
Thanks.
Operator
And the following query will come from Keith Weiss with Morgan Stanley.
Keith Weiss — Analyst
Glorious. Thanks, guys, for taking the query. Numerous pleasure from you guys on the automobile faculty in regards to the piece of innovation occurring within the enterprise. And we hear it that pleasure from artistic professionals as they speak about an acceleration within the case of innovation.
However apologies to state the plain, however buyers aren’t, you understand, that excited or are exhibiting that pleasure. The inventory is a serious under-performer on a year-to-date date. It is down once more on an after-hours foundation at this time. And I’d level to it is the shortage of acceleration that we’re seeing within the numbers, proper? Digital Media web new ARR this quarter grew simply — or in Inventive Cloud grew 2%.
You are guiding to decelerating progress into the ahead 12 months regardless of all this innovation. And I feel the query that it brings up in buyers’ thoughts is, is there some leak within the bucket, proper? All this innovation, new monetization avenues, pricing going up, however the progress goes within the incorrect path. Like is there part of the equation that is not working? Is there share losses? Is there one thing that we’re not seeing that’s taking away that momentum within the numbers that is not — type of not within the acceleration within the numbers, if you’ll?
Shantanu Narayen — Chairman and Chief Govt Officer
Properly, Keith, perhaps I am going to speak about that. I imply, should you take a step again and take into consideration the 12 months, and I am going to actually tackle the suggestions that you simply’re sharing. From our perspective, you understand, after we guided in the beginning of the 12 months, after we reguided then in the midst of the 12 months to 19.50, after which, after we guided in Q3, I imply, the truth is we beat all these three targets that we had issued, starting of the 12 months, center of the 12 months, and finish of the 12 months. I feel, particularly, perhaps because it pertains to the This fall Digital Media web new ARR, and enthusiastic about it from the Inventive, the one factor that I am going to level out there may be that, truly, Inventive did higher than most likely is obvious in that if you concentrate on the contribution of Acrobat that went into the Inventive bucket versus the, you understand, Doc Cloud enterprise.
So, actually, Acrobat continues to do properly document as you noticed. However the non-Acrobat contribution in Inventive truly had extra progress than what you’d see should you simply have a look at it from a Inventive Cloud ARR. I feel to your greater query about what’s taking place within the enterprise, and as we give it some thought, you understand, on the scale of the enterprise proper now, actually, as this whole world strikes towards generative AI, as David mentioned, you understand, we’re executing on each the proliferation play on the backside with Categorical and Acrobat. And on the excessive finish, with the Inventive Professional and with the enterprise, we’re seeing important adoption of that.
And I feel GenStudio can even be a great unlock as a result of GenStudio truly brings this all collectively within the enterprise in a means that no one else can. And so, after we take into consideration Firefly Providers, you concentrate on the customized fashions, you concentrate on the power to maneuver all of that into campaigns at tempo, you understand, that, we’re seeing important traction in that exact area. So, the enterprise goes by a change because it pertains to the decrease finish. However for the core Inventive, in addition to for the enterprise, it is truly headed completely in step with our expectations with good acceleration.
And on the patron communicator area, I feel the traction that we’re seeing with Categorical on proliferation additionally offers us numerous optimism for the way that a part of the enterprise can also be doing properly. And so, you understand, we take our goal significantly. It is the start of the 12 months. We need to go maintain executing and innovating on it.
To the purpose that I feel you in addition to others have requested, is there, you understand, alternative within the progress agenda, not simply to consider the innovation and the choices, however to make it possible for as we tier these, that the pricing and the worth is acceptable? Completely. And I feel you will proceed to see us — I feel David talked about that in his ready remarks, in addition to Dan did, that you’re going to see us even have new tiered choices that mirror that worth that we’re offering to the Inventive, Professional, in addition to to the enterprise segments.
Keith Weiss — Analyst
Glorious. Thanks for the suggestions.
Operator
And shifting on to Keith Bachman with BMO.
Keith Bachman — Analyst
Hello. Thanks very a lot. I wished to ask David to you if I might on Doc Cloud particularly. Progress was actually robust this quarter, and I simply wished to grasp a number of the context related to sturdiness.
And should you might break it into a number of the components, it seems to be like your month-to-month lively customers continues to develop properly. And along with that, how are you enthusiastic about leveraging the worth there by way of worth particularly inside the progress of Doc Cloud. And once more, the broader query is simply on the sturdiness of Doc Cloud, grew 23% over the course of the quarter by way of ARR. Making an attempt to grasp how sturdy it’s and what the items are.
After which, I’ve a follow-up.
David Wadhwani — President, Digital Media
Yeah. I feel Doc Cloud has been — you understand, if you concentrate on the truth that we’re 40 years into this enterprise, it is actually simply the muse is the truth that PDF has develop into the de facto normal for unstructured information on the earth, and Adobe and Acrobat are essentially the most trusted suppliers of options for that. And that is actually what’s the basis of what’s driving the enterprise, together with the truth that it is essentially the most safe platform for leveraging and accessing the content material. I feel there are two issues which are actually the expansion drivers of this enterprise — or quite a few issues.
First is precisely such as you mentioned. I imply, month-to-month lively customers, and free and paid is a key stat that we maintain . We’re very efficient at taking free customers of Reader and changing them to paid customers of Acrobat. And we proceed to do this throughout extra providers.
It was once predominantly a give attention to desktop functions. As we have famous previously, we now have Edge integrations and Chrome integrations. We’re additionally accessible in Groups. We’re additionally accessible on cell units for iOS and Android.
And the combo of all these proceed to develop on a month-to-month foundation. One of many issues that we’re doing to drive that progress helps individuals see the worth of sharing a hyperlink to the PDF versus sharing the doc itself. That in doing so, you get much more management by way of the dialog and suggestions and assessment round that. Nevertheless it additionally drives the truth that the recipient is then assured to be viewing the PDF in an Adobe service that we are able to then use to shut that viral loop and, you understand, drive additional high of ultimate alternative to transform.
So, that basis may be very robust. Along with that, AI Assistant has been actually an outstanding advert. You recognize, not like many different gamers within the area, we do not require important safety and governance critiques as a result of individuals can have conversations across the paperwork that they view. And one of many large issues that I feel has been unlocked this 12 months is shifting not simply by a PDF that you simply occur to be viewing, however with the ability to have a look at and have a dialog with a number of paperwork, a few of which do not even should be PDF.
So, that transition and that provides us the power to essentially take Acrobat and make it extra of a common objective productiveness platform. And that is actually what drove the adoption that we noticed in schooling this 12 months. In order that’s one other means of claiming that the core basis of Acrobat continues to be robust and is definitely getting stronger with MAU growing, however the brand new worth you are including with AI Assistant takes Acrobat to a whole new stage by way of worth.
Shantanu Narayen — Chairman and Chief Govt Officer
Possibly the factor I am going to add to that’s the sturdiness of that, to your level, in languages, as we roll that out in languages, as we roll it out throughout a number of paperwork, and as we roll it out in enterprises and B2B particularly. So, once more, important headroom by way of the innovation agenda of how Acrobat will be made much more significant as a data software inside the enterprise.
Keith Bachman — Analyst
OK, it type of leads into my follow-up query, if I might sneak it in, is we have talked about, through the course of this name tonight, the assorted drivers of progress for ARR. And I simply wished to particularly ask about consumption as we take into consideration FY ’25. And the query is, is that going to be a contributor towards ARR progress? Or ought to buyers actually be enthusiastic about attempting to maximise seats, if you’ll, and actually should not be about consumption being additive to progress in ’25? That is it for me. Thanks.
Shantanu Narayen — Chairman and Chief Govt Officer
I feel, Keith, you are going to see a “consumption add” to ARR in two or perhaps 3 ways, extra so in ’25 than in ’24. The primary, and David alluded to this, is if in case you have a video providing. And that video providing, that can be a pure consumption, you understand, pricing related to it. I feel the second is in GenStudio and for enterprises and what they’re seeing with respect to Firefly Providers, which, once more, I feel David touched on, you understand, how a lot momentum we’re seeing in that enterprise.
So, that’s, in impact, a consumption enterprise because it pertains to the enterprise, so I feel that can even proceed to extend. After which, I feel you will see us with, maybe, you understand, extra premium worth providing. So, the intention is that consumption is what’s driving the elevated ARR, however it could be because of a tier within the pricing relatively than a consumption mannequin the place individuals even have to observe it. So, it is simply one other means, very like AI Assistant is of monetizing it, nevertheless it’s not like we’ll be monitoring each single technology for the person.
It will simply be at a unique tier. And we expect that that is each a greater strategy to ship worth, in addition to to get the monetization.
Operator
And shifting on to Brad Sills with Financial institution of America.
Brad Sills — Analyst
Great. Thanks. Let me ask a query, David, of you, please. Previously, you supplied some good colour — it feels like there’s momentum there.
It looks like this would be the 12 months with all of the Firefly Providers integration into the core franchises that we might see some acceleration and conversion of that funnel. So, we would like to get some updates from you on that effort and the way you see that unfolding all year long. Thanks.
Shantanu Narayen — Chairman and Chief Govt Officer
For a second, you truly minimize out. And so, you mentioned Firefly, we heard that. Did you point out every other product earlier than we reply that query, Brad, simply to verify we seize your query?
Brad Sills — Analyst
Actually, simply Firefly providers throughout all of the franchises, you understand, Photoshop, Lightroom, and many others. You recognize, what might that integration effort do to the conversion exercise with the highest of funnel?
David Wadhwani — President, Digital Media
Yeah. So, quite a few issues. So, to start with, you are precisely proper by way of, you understand, Firefly is a platform and a basis that we’re leveraging throughout many alternative merchandise, as we talked about. Every little thing from Categorical and Lightroom and even in Acrobat on cell for broad base, however then additionally in our core Inventive merchandise, Photoshop, Illustrator, Premiere.
And, you understand, as we have alluded to quite a few occasions on this name with the introduction of Video, even a stand-alone provide for Firefly that we expect can be, you understand, extra helpful from a tiering perspective there. After which, into Firefly Providers by APIs and connection to GenStudio. So, we’re leveraging the facility of this AI basis in all of the actions. Now, because it pertains to high of funnel and conversion, we’re very excited — let’s begin with new customers and extra nearer to the low finish of the market.
We’re very excited with the sign we’re getting from Categorical and Lightroom on cell and net. Once more, you understand, as we talked about, Categorical is seeing some actually good new person acquisition. We added 4,000 new companies this 12 months. We elevated schooling entry by 84% this back-to-school versus final back-to-school.
We’re seeing, you understand, actually robust adoption by social, digital, and cell site visitors as properly. So, we see that after we put money into cell and net, we’re getting some very constructive alerts by way of person adoption and person conversion charges. So, we’re utilizing Firefly very actively to do this. And by the best way, the truth that Firefly continues to be the one commercially protected mannequin built-in into these apps does matter relating to, as I mentioned, including 4,000 new companies.
The second factor is we’re seeing within the core Inventive enterprise, when individuals attempt one thing like Photoshop, the onboarding expertise is quicker to success due to the usage of generative AI and generative capabilities. So, you will begin to see us persevering with to drive extra proliferation of these capabilities earlier within the person journeys, and that has been confirmed very productive. However we additionally seen that extra individuals use generative AI. Once more, we have at all times had good retention charges, however the extra individuals use generative AI, the longer they keep as properly.
And so, we’re undoubtedly leveraging generative AI for the whole move within the funnel.
Steve Day — Chief Monetary Officer and Senior Vice President, Digital Expertise
And as we cross the highest of the hour —
Brad Sills — Analyst
Great.
Steve Day — Chief Monetary Officer and Senior Vice President, Digital Expertise
We’ll simply have time for yet another query. Thanks.
Operator
And that query will come from Jay Vleeschhouwer with Griffin Securities.
Jay Vleeschhouwer — Analyst
Thanks. Good night. Dan, you famous that your present RPO was up 13% within the quarter, which ends up in a ten% three-year CAGR for present RPO. Would you anticipate that over time, or at the least in fiscal ’25, that your present RPO progress could be nearer to what you simply reported for This fall? Or may it revert extra to the decrease three-year CAGR? After which, for David, if I might, simply since there have been so many mentions of tiered choices, is the idea there extra round performance on the product stage as in comparison with the olden days of tiering that was extra about segmentation and packaging, as within the previous CS days? Or is it extra at present across the performance that you simply’re providing on a product-by-product foundation?
Daniel J. Durn — Govt Vice President, Chief Monetary Officer
Yeah. Thanks, Jay. And what I undoubtedly do not need to do is get into guiding of cRPO. However once I take a step again and take into consideration the rhythm and move of the enterprise, what we’re seeing on the enterprise facet, successful giant transformational offers, exiting the 12 months with the most important bookings quarter ever, having premium tiers in that product portfolio, momentum round AEP and apps persevering with to develop at scale, and after we take into consideration content material provide chain and bringing cross cloud alternatives collectively that basically get at significant ache factors of consumers over time, after which we take into consideration the innovation that we’re driving by the Digital Media enterprise, I really feel actually good about our potential to proceed to drive the enterprise going ahead, and I am very inspired by what I see.
David Wadhwani — President, Digital Media
Yeah. After which, simply including on briefly to the query on tiering. Yeah, Jay, if you concentrate on what we have achieved during the last 12 months, there’s been a little bit of experimentation. Clearly, within the core Inventive functions, we have achieved the generative credit mannequin.
What we noticed with Acrobat was this concept of, you understand, a separate package deal and a separate SKU that created a tier that individuals had been capable of entry the function by. And as we be taught from all of those, we expect, as Shantanu had talked about earlier, that the fitting tiering mannequin for us goes to be a mixture of function — entry to sure options and utilization limits on it. So, the upper the tier, the extra options you get and the extra utilization you get of it.
Shantanu Narayen — Chairman and Chief Govt Officer
And since that was the final query, let me once more perhaps, in fast abstract, simply speak about first, you understand, we had a powerful ’24. However I feel that basically units us up even higher for a powerful ’25, given the innovation that we have had. I feel because it pertains to all three companies that we’ve got, the Inventive Cloud, with every part that we have achieved round AI, we’ve got numerous momentum going into the enterprise and a very nice various portfolio by way of each the purchasers, in addition to our choices. Acrobat continues to carry out very well with AI Assistant as we carry it to different languages, get extra vertical use instances for that exact resolution, and lengthen it past a single doc.
We proceed to suppose that the Doc Cloud has important alternative forward of us. And I feel bringing that every one along with Digital Expertise, This fall was actually an especially robust quarter because it associated to us bringing all these options collectively in GenStudio. I feel very like we did with AEP and apps and information and have pushed that to a billion-dollar enterprise, I really feel simply the identical quantity of pleasure with what we are able to do with content material and AI and the way we are able to speed up the creation of that every one the best way from ideation to the a number of variations that is required. So, we look ahead to sharing extra with you on the finish of our Q1.
However within the interim, thanks for becoming a member of us, and glad holidays.
Steve Day — Chief Monetary Officer and Senior Vice President, Digital Expertise
Thanks. And that ends this name —
Operator
Thanks. And that does — and that does conclude at this time’s convention. [Operator signoff]
Period: 0 minutes
Name members:
Steve Day — Chief Monetary Officer and Senior Vice President, Digital Expertise
Shantanu Narayen — Chairman and Chief Govt Officer
David Wadhwani — President, Digital Media
Anil S. Chakravarthy — President, Digital Expertise
Daniel J. Durn — Govt Vice President, Chief Monetary Officer
Michael Turrin — Analyst
Dan Durn — Govt Vice President, Chief Monetary Officer
Alex Zukin — Analyst
Kirk Materne — Analyst
Keith Weiss — Analyst
Keith Bachman — Analyst
Brad Sills — Analyst
Jay Vleeschhouwer — Analyst
