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Oracle Stock ORCL

Oracle Corporation · SEC filings · Reporting currency USD · Quarterly reporting · Figures as of Q1 FY2027 (Jun to Aug 2026) · updated 2026-10-18 · checked 2026-10-08 · ISIN US68389X1054 · WKN 871460

Oracle develops and markets enterprise software, cloud infrastructure, and hardware systems for large and mid-sized organizations across industries including financial services, healthcare, retail, and government. Oracle stock (ORCL): Quarterly and annual results since 2024 from Quarterly Report and SEC filings: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 09/2026, quarterly reporting. Stock analysis by NadirAlpha. Oracle stock (ORCL): listed on NYSE, index S&P 500, WKN 871460. NadirAlpha has evaluated 51 original documents, cross-checked every figure automatically and linked each to its source; sources as of 09/2026. Revenue Q1 FY2027 (Jun to Aug 2026): USD 19.3 billion (+30% year on year). Latest reported (Q1 FY2027 (Jun to Aug 2026)): Cloud Infrastructure (IaaS) Revenue, Remaining Performance Obligations, Remaining Performance Obligations (RPO). Latest reading: Margin expanding, Revenue accelerating, Cash flow inflection, Strategic pivot.

Margin expanding Revenue accelerating Cash flow inflection strategy: Strategic pivot

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Oracle Current Status

Summary of the most recent reporting period of Oracle (Q1 FY2027): core figures, drivers and management statements, every figure with a source number. NadirAlpha methodology

Assessment by NadirAlpha, as of Q1 FY2027 (Jun to Aug 2026).

Oracle reported total revenues of USD 19,345 million for Q1 FY2027, up 30% year on year, with cloud revenues growing 62% to $11.6 billion and Cloud Infrastructure (IaaS) revenues growing 121% to $7.4 billion 29. Operating cash flow reached a record USD 23,103 million, up 184%, while GAAP operating income rose 57% to USD 6,728 million 29. Oracle booked more than $30 billion of additional AI cloud contracts, bringing remaining performance obligations to $664 billion as of August 31, 2026 29. Oracle also completed a $20 billion common-stock issuance through its At-the-Market equity program and introduced two new AI-native product platforms during the quarter 29.
Management commentary on the 2026-Q2 results (8-K-EX99.1, 2025-12-10):

“Oracle is very good at building and running high-performance and cost-efficient cloud datacenters. For years Oracle has been investing in AI and building autonomous cloud software. Oracle's Autonomous Database and Autonomous Linux have been key to reducing human labor and human error in our datacenters. Because our datacenters are highly automated, we can build and run more of them. Oracle has over 211 live and planned regions worldwide–more than any of our cloud competitors. We are more than halfway through building 72 Oracle Multicloud datacenters to be embedded throughout the Amazon, Google and Microsoft clouds. We are committed to Cloud Neutrality because we believe that our customers should be able to run their Oracle databases in any cloud they choose. That strategy is definitely paying off. Our Multicloud database business is our fastest growing business–up 817% in Q2.”

Clay Magouyrk, Oracle CEO 23

“AI Training and selling AI Models are very big businesses. But we think there is an even larger opportunity–embedding AI in a variety of different products. Oracle is in a unique position to embed AI in all three layers of our software products: our Cloud Datacenter software, our Autonomous Database and Analytic software, and our Applications software. All three of these Oracle software businesses are already big–AI will make them all better and bigger. AI allows us to automate complex multistep processes that were impossible to automate before AI. AI is enabling us to automate loan origination and risk quantification for banks and their customers. AI is enabling us to help doctors diagnose and care for their patients and manage the reimbursement process between healthcare providers and payers. All of the top five AI Models are in the Oracle Cloud. We have huge advantages over our applications competitors.”

Mike Sicilia, Oracle CEO 23
Revenue · 2027-Q119,345$ million+29.6 % vs. 2026-Q1
Net profit · 2027-Q14,760$ million+62.6 % vs. 2026-Q1
EPS · 2027-Q11.56$+54.5 % vs. 2026-Q1
Revenue trend
Guidance
For FY2027, Oracle guides EPS (non-GAAP) 8.1 $ (raised); Revenue 90,000 $ million (confirmed); Cloud Infrastructure Revenue 32,000 $ million (initiated). 29 Longer-term target for FY2030: Cloud Infrastructure Revenue 144,000 $ million (initiated). 21
Profitability
GAAP operating income was USD 6,728 million, up 57%, while non-GAAP operating income reached USD 8,151 million, up 31% 29. Operating margin increased to 35% in Q1 FY2027 from 29% in Q1 FY2026, as revenue growth outpaced operating expense increases 30. Net income was USD 4,760 million, with diluted EPS of 1.56 and non-GAAP diluted EPS of 1.92 29.
Leverage
Oracle held cash of USD 36,369 million at the end of Q1 FY2027, up from USD 31,289 million in the prior quarter, partly reflecting equity financing completed during the period. No net debt figure for Q1 FY2027 is stated in the available inputs; the prior quarter's net debt was USD 98,252 million. A net-debt/EBITDA ratio for the period is not separately disclosed in the inputs, and the company remains in a capital-intensive expansion phase directed at global data center construction.
Recurring
Cloud revenues represented 60% of total revenues in Q1 FY2027, up from 48% in Q1 FY2026, reflecting continued customer migration toward cloud deployment models 30. Combined cloud and software revenues accounted for 88% of total revenues, underscoring the weight of subscription and long-term support contracts in the revenue base 30. Remaining performance obligations, primarily from multi-year cloud and AI contracts, reached $664 billion as of August 31, 2026, up from $455 billion a year earlier 30.
Management view
Oracle booked more than $30 billion of additional AI cloud contracts during Q1 FY2027, reflecting sustained enterprise and hyperscaler demand for AI cloud infrastructure capacity 29. Oracle delivered more than 300,000 GPUs to AI cloud customers in the quarter, a volume described as almost triple the capacity delivered in the prior quarter 29. Oracle declared a quarterly cash dividend of $0.50 per share during the period 29.
Change
Capital expenditures reached USD 28,499 million in Q1 FY2027, compared with $8.5 billion in Q1 FY2026, primarily to expand data center capacity to meet cloud demand 30. Free cash flow for the quarter was USD -5,396 million, as capital spending exceeded operating cash inflow for the period 29. Cloud infrastructure contributed 91% of cloud revenue growth in Q1 FY2027, with cloud applications contributing 9%, indicating that growth was heavily concentrated in infrastructure services rather than application subscriptions 30.
Risks (current)
Oracle faces company-specific risks around manufacturing partners' ability to deliver hardware on schedule, revenue concentration in cloud and software at 88% of total revenues, and the challenge of managing cloud infrastructure capacity to keep pace with demand growth 30. Oracle also notes that AI products may not operate as anticipated, potentially affecting cloud strategy execution, alongside risks from sourcing components such as GPUs and the possibility of significant coding or configuration errors in cloud offerings 29. Further risks include those associated with acquisitions and strategic alliances, as well as exposure to natural disasters, geopolitical events, and transportation disruptions 28 29.
New this reporting period
Oracle launched the Oracle AI Data Platform, designed for automated enterprise ontology generation, during Q1 FY2027 29. The company also launched a 100% agentic AI healthcare management and electronic health records system in the quarter 29. Oracle completed $20 billion in common-stock sales through its At-the-Market equity program in Q1 FY2027, following an amendment to the Equity Distribution Agreement dated June 23, 2026, and entered into new data center lease and contractual commitments as of August 31, 2026 29 30.

Oracle Stock: Key Figures ($ million)

NadirAlpha shows fiscal years, half-years and quarters of Oracle one below the other, most recently Q1 FY2027; every figure is clickable and leads to raw value, location and source. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology

All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.

Revenue ($ million) · annual basis, as reported
Net income ($ million) · annual basis, as reported
EPS ($) · annual basis, as reported
Operating cash flow ($ million) · annual basis, as reported
Revenue ($ million) · quarterly basis, as reported
Net income ($ million) · quarterly basis, as reported
EPS ($) · quarterly basis, as reported
Operating cash flow ($ million) · quarterly basis, as reported
Cash ($ million) · annual basis, as reported
Debt ($ million) · annual basis, as reported
Net Debt ($ million) · annual basis, as reported
Capex ($ million) · annual basis, as reported
FCF ($ million) · annual basis, as reported
D&A ($ million) · annual basis, as reported
Cash ($ million) · quarterly basis, as reported
Capex ($ million) · quarterly basis, as reported
FCF ($ million) · quarterly basis, as reported
D&A ($ million) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2016 is on record.

Fiscal years

Amounts in $ million · EPS in $ per share · as reported
Oracle stock: key figures on annual basis, FY2024 to FY2026, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterRevenueOp. incomeOp. income (adj.)Net incomeEPS ($)EPS adj. ($)EBITDA (adj.)OCFSource
FY2026Q2/2025–Q2/202667,35720,60628,92517,0875.837.6331,97731,97728
FY2025Q2/2024–Q2/202557,39917,67825,03412,4434.346.0320,82120,82120
FY2024Q2/2023–Q2/202452,96115,35323,05410,4673.715.56–18,67312

Quarters

Amounts in $ million · EPS in $ per share · as reported
Oracle stock: key figures on quarterly basis, 2024-Q1 to 2027-Q1, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterPublishedRevenueOp. incomeOp. income (adj.)Net incomeEPS ($)EPS adj. ($)EBITDA (adj.)FCFCashNet DebtSource
2027-Q1*Q2–Q3/20262026-09-1019,3456,7288,1514,7601.561.92–-5,39636,369–129
2026-Q4*Q1–Q2/20262026-06-1019,1846,1338,5904,3041.47*≈2.11–-1,87331,28998,252127
2026-Q3*Q4/2025–Q1/20262026-03-1017,1905,4647,3783,7211.271.797,378-11,48438,455–125
2026-Q2*Q3–Q4/20252025-12-1016,0584,7316,7216,1352.102.26–-9,96719,241–123
2026-Q1*Q2–Q3/20252025-09-0914,9264,2776,2362,9271.011.47–-36210,445–21
2025-Q4*Q1–Q2/20252025-06-1115,9035,1097,0353,4271.20*≈1.70–-2,92310,78681,78219
2025-Q3*Q4/2024–Q1/20252025-03-1014,1304,3586,1952,9361.021.476,1957117,406–17
2025-Q2*Q3–Q4/20242024-12-0914,0594,2206,0963,1511.101.47–-2,66610,941–15
2025-Q1*Q2–Q3/20242024-09-0913,3073,9915,7082,9291.031.39–5,12410,616–13
2024-Q4*Q1–Q2/20242024-06-1114,2874,6866,6693,1431.11*≈1.63–3,28310,45476,41511
2024-Q3*Q4/2023–Q1/20242024-03-1113,2803,7505,7922,4010.851.41–3,8019,481–9
2024-Q2*Q3–Q4/20232023-12-1112,9413,6225,5362,5030.891.345,536-9378,244–7
2024-Q1*Q2–Q3/20232023-09-1112,4533,2965,0572,4200.861.19–5,66011,61372,829~5
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.

Oracle Balance Sheet & Cash Flow ($ million)

Point-in-time balance sheet items of Oracle (cash, financial debt) and cash flow items per fiscal year, half-year and quarter, derived values with their formula in the popover. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology

Fiscal years

Amounts in $ million · as reported
Oracle stock: balance sheet and cash flow on annual basis, FY2024 to FY2026, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterPublishedCashDebtNet DebtD&AOCFCapexFCFSource
FY2026Q2/2025–Q2/20262026-06-1031,289129,54198,2529,29431,97755,663-23,68627
FY2025Q2/2024–Q2/20252025-06-1110,78692,56881,7826,17420,82121,215-39419
FY2024Q2/2023–Q2/20242024-06-1110,45486,86976,4156,13918,6736,86611,80711

Quarters

Amounts in $ million · as reported
Oracle stock: balance sheet and cash flow on quarterly basis, 2024-Q1 to 2027-Q1, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterPublishedCashDebtNet DebtD&AOCFCapexFCFSource
2027-Q1Q2–Q3/20262026-09-1036,369––3,35823,10328,499-5,396129
2026-Q4Q1–Q2/20262026-06-1031,289129,54198,2522,84714,62016,493-1,873127
2026-Q3Q4/2025–Q1/20262026-03-1038,455––2,5667,15118,635-11,484125
2026-Q2Q3–Q4/20252025-12-1019,241––2,1102,06612,033-9,967123
2026-Q1Q2–Q3/20252025-09-0910,445––1,7718,1408,502-36221
2025-Q4Q1–Q2/20252025-06-1110,78692,56881,7821,6966,1579,080-2,92319
2025-Q3Q4/2024–Q1/20252025-03-1017,406––1,5515,9335,8627117
2025-Q2Q3–Q4/20242024-12-0910,941––1,4991,3043,970-2,66615
2025-Q1Q2–Q3/20242024-09-0910,616––1,4287,4272,3035,12413
2024-Q4Q1–Q2/20242024-06-1110,45486,86976,4151,5546,0812,7983,28311
2024-Q3Q4/2023–Q1/20242024-03-119,481––1,5575,4751,6743,8019
2024-Q2Q3–Q4/20232023-12-118,244––1,5531431,080-9377
2024-Q1Q2–Q3/20232023-09-1111,61384,442~72,829~1,4756,9741,3145,6605
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.

Oracle Guidance Tracking (latest per metric/period · 16/16)

NadirAlpha records 16 guidance statements of Oracle neutrally: annual and quarterly targets, direction of change and outcome as a dot with legend, with no estimate of our own. NadirAlpha methodology

Actuals: revenue in $m · EPS in $ per share · ratios in %

Direction: confirmedinitiatedraised Verdict: beatpending

Oracle: guidance and actuals per metric and period, 16 entries. Compiled by NadirAlpha from SEC filings.
For periodGuided onMetricGuidedActualVerdictDirectionSource
FY20302025-09-09Cloud Infrastructure Revenue144,000–21
FY20292025-09-09Cloud Infrastructure Revenue114,000–21
FY20282025-09-09Cloud Infrastructure Revenue73,000–21
FY20272026-09-10EPS (non-GAAP)8.1–29
FY20272026-03-10Revenue90,000–29
FY20272025-09-09Cloud Infrastructure Revenue32,000–21
FY20262026-03-10Revenue67,00067,35725
FY20262026-03-10Capex50,000––25
FY20262025-09-09Cloud Infrastructure Revenue18,000––21
FY20262025-06-11Total Cloud Growth Rate40%––19
FY20262025-06-11Cloud Infrastructure Growth Rate70%––19
FY20262025-06-11RPO Growth100%––19
FY20262025-03-10Revenue growth (YoY)15%17.317
2026-Q42026-03-10EPS (non-GAAP)1.92–1.962.1125
2026-Q42026-03-10Revenue growth (YoY)18–20%20.625
2026-Q42026-03-10Total Cloud revenue44–48%––25

Oracle Stock: Price & Chart

Interactive price chart of Oracle stock (TradingView) and the trend of key figures from the core tables; the chart loads only after a click and then connects to TradingView. NadirAlpha methodology

Daily candles with news and earnings markers. Loads only on click.

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Oracle Event Timeline

What happened at Oracle since 2024: events from the filings, grouped by quarter, with the source date and a clickable source number. NadirAlpha methodology

Overview: one dot per event · click jumps to the period
earningsrevenuemarginguidancestrategyfinancials2024-Q12024-Q22024-Q32024-Q42025-Q12025-Q22025-Q32025-Q42026-Q12026-Q22026-Q32026-Q4FY20262027-Q1
2027 · 4 events

Margin expanding 2026-09-11
GAAP operating margin expanded to 35% from 29% in the prior year period as revenue growth outpaced operating expense increases 30
Revenue accelerating 2026-09-10
Total revenues up 30% to 19,345 million; cloud revenues up 62% to $11.6 billion; IaaS up 121% to $7.4 billion 29
Strategic pivot 2026-09-10
More than $30 billion in new AI cloud contracts booked; remaining performance obligations reached $664 billion, up from $455 billion a year earlier 29
Cash flow inflection 2026-09-10
Operating cash flow reached USD 23,103.0 million vs USD 8,140.0 million in 2026-Q1 (×2.8). 129
2026 · 14 events

Segment divergence 2026-06-22
Cloud and software revenue grew +18.9% to USD 58,530.0 million in FY2026 (46% of group revenue) while group revenue changed -19.2%. 28

revenue 2026-06-10
Record Q4 cloud revenue $9.9B +47%; IaaS +93% to $5.8B; record FY2026 total revenues $67.4B +17% and cloud revenues $34.0B +39% 27
Guidance raised 2026-06-10
FY2027 total revenue confirmed at $90B; non-GAAP EPS guidance raised to $8.05 representing 18% growth; Q1 FY2027 total revenue expected to grow 27%-29% in USD 27
Strategic pivot 2026-06-10
Remaining performance obligations grew $85B in Q4 to $638B total, with $75B from large-scale AI contracts; Oracle Multicloud AI Database grew 404%, described as the company's fastest growing business ever 27
Cash flow inflection 2026-06-10
Operating cash flow reached USD 14,620.0 million vs USD 6,157.0 million in 2025-Q4 (×2.4). 127

Revenue accelerating 2026-03-10
Total revenue +22% to $17.2B; cloud revenue +44% to $8.9B; IaaS +84% to $4.9B; Multicloud Database revenue +531% 25
Guidance raised 2026-03-10
FY2027 total revenue guidance raised to $90B; FY2026 total revenue guidance maintained at $67B and capex at $50B 25
Strategic pivot 2026-03-10
Remaining performance obligations reached $553B, up 325% YoY, primarily driven by large-scale AI contracts; $43.0B senior notes and $5.0B mandatory convertible preferred stock issued in nine months 2026 to fund data center expansion 25 26

earnings 2025-12-10
GAAP EPS +91% to $2.10, materially reflecting the $2.7B Ampere divestiture gain; non-GAAP EPS +54% to $2.26 on an operational basis 23
Revenue accelerating 2025-12-10
Total revenue +14% to $16.1B; cloud revenue +34% to $8.0B with IaaS +68% to $4.1B; cloud infrastructure contributed 81% of cloud revenue growth 23 24
Divestiture 2025-12-10
Oracle's approximately 29% stake in Ampere Computing Holdings LLC divested via SoftBank acquisition, generating $2.7B pre-tax gain and $4.3B cash proceeds in H1 FY2026 23 24

“We signed four multi-billion-dollar contracts with three different customers in Q1. This resulted in RPO contract backlog increasing 359% to $455 billion. It was an astonishing quarter–and demand for Oracle Cloud Infrastructure continues to build. Over the next few months, we expect to sign-up several additional multi-billion-dollar customers and RPO is likely to exceed half-a-trillion dollars. The scale of our recent RPO growth enables us to make a large upward revision to the Cloud Infrastructure portion of Oracle's overall financial plan which we will be presenting in detail next month at the Financial Analyst Meeting. As a bit of a preview, we expect Oracle Cloud Infrastructure revenue to grow 77% to $18 billion this fiscal year–and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four years. Most of the revenue in this 5-year forecast is already booked in our reported RPO. Oracle is off to a brilliant start to FY26.”

Safra Catz, Chief Executive Officer 21
Margin compressing 2025-09-10
GAAP operating margin declined to 29% from 30% as cloud and software infrastructure expenses increased $929M and restructuring expenses rose to $402M from $73M under the 2026 Restructuring Plan 22
Revenue accelerating 2025-09-09
Total revenue +12% to $14.9B; cloud revenue +28% to $7.2B with IaaS +55% to $3.3B and cloud applications +11% to $3.8B 21
Strategic pivot 2025-09-09
Remaining performance obligations surged 359% YoY to $455.3B, primarily attributable to significant new cloud contracts entered during the period 21 22
2025 · 13 events

“FY25 was a very good year–but we believe FY26 will be even better as our revenue growth rates will be dramatically higher. We expect our total cloud growth rate–applications plus infrastructure–will increase from 24% in FY25 to over 40% in FY26. Cloud Infrastructure growth rate is expected to increase from 50% in FY25 to over 70% in FY26. And RPO is likely to grow more than 100% in FY26. Oracle is well on its way to being not only the world's largest cloud application company–but also one of the world's largest cloud infrastructure companies.”

Safra Catz, Chief Executive Officer 19
Free cash flow turned negative 2025-06-18
FY2025 capital expenditures +209% to $21.2B to expand cloud data center capacity, resulting in full-year free cash flow of negative $(394)M vs. positive $11.8B in FY2024 (20)
Revenue accelerating 2025-06-11
Q4 total revenue +11% to $15.9B; cloud infrastructure (IaaS) +52% to $3.0B; total cloud (IaaS + SaaS) +27% to $6.7B; Remaining Performance Obligations +41% to $138B (19)
Guidance initiated 2025-06-11
Management expects FY2026 total cloud growth to exceed 40% (vs. 24% in FY2025), cloud infrastructure growth to exceed 70%, and Remaining Performance Obligations to grow more than 100% (19)

“Oracle signed sales contracts for more than $48 billion in Q3. This record sales number pushed our Remaining Performance Obligations, or RPO, up 63% to over $130 billion. We have now signed cloud agreements with several world leading technology companies including: OpenAI, xAI, Meta, NVIDIA and AMD. We expect that our huge $130 billion sales backlog will help drive a 15% increase in Oracle's overall revenue in our next fiscal year beginning this June. And we expect RPO to continue to grow rapidly–as we look forward to signing our first Stargate contract–yet another big opportunity for Oracle to expand both its AI training and AI inferencing businesses in the near future.”

Safra Catz, Chief Executive Officer 17

“we expect that our total cloud and license revenues generally will continue to increase due to expected growth in our cloud services offerings and continued demand for our cloud license and on-premise license and license support offerings”

Oracle Management 18
revenue 2025-03-10
Q3 cloud infrastructure (IaaS) +49% to $2.7B; total cloud (IaaS + SaaS) +23% to $6.2B; Remaining Performance Obligations +62% to $130B (17)
Guidance initiated 2025-03-10
Management expects approximately 15% increase in Oracle's overall revenue in FY2026 beginning June 2025 (17)
New market 2025-03-10
Signed cloud agreements with OpenAI, xAI, Meta, NVIDIA, and AMD; GPU consumption for AI training +244% in the prior 12 months; on schedule to double data center capacity in calendar 2025 (17)

“Record level AI demand drove Oracle Cloud Infrastructure revenue up 52% in Q2, a much higher growth rate than any of our hyperscale cloud infrastructure competitors. Growth in the AI segment of our Infrastructure business was extraordinary–GPU consumption was up 336% in the quarter–and we delivered the world's largest and fastest AI SuperComputer scaling up to 65,000 NVIDIA H200 GPUs. With our remaining performance obligation (RPO) up 50% to $97 billion, we believe our already impressive growth rates will continue to climb even higher. This fiscal year, total Oracle Cloud revenue should top $25 billion.”

Safra Catz, CEO 15
Revenue accelerating 2024-12-09
Q2 total revenue +9% to $14.1B; cloud infrastructure (IaaS) +52% to $2.4B; total cloud (IaaS + SaaS) +24% to $5.9B (15)
guidance 2024-12-09
Management projects total Oracle Cloud revenue to exceed $25 billion in FY2025 (15)
New market 2024-12-09
Signed agreement with Meta for Oracle AI Cloud Infrastructure and AI Agents collaboration; GPU consumption in Oracle Cloud Infrastructure AI segment +336% year-over-year (15)
Cash flow inflection 2024-12-09
Operating cash flow reached USD 1,304.0 million vs USD 143.0 million in 2024-Q2 (×9.1). 123

“As Cloud Services became Oracle's largest business, both our operating income and earnings per share growth accelerated. Non-GAAP operating income was up 14% in constant currency to $5.7 billion, and non-GAAP EPS was up 18% in constant currency to $1.39 in Q1. RPO was up 53% from last year to a record $99 billion. That strong contract backlog will increase revenue growth throughout FY25. But the biggest news of all was signing a MultiCloud agreement with AWS–including our latest technology Exadata hardware and Version 23ai of our database software–embedded into AWS cloud datacenters. AWS customers will get easy and convenient access to the Oracle database when we go live in December later this year.”

Safra Catz, CEO 13
Revenue accelerating 2024-09-09
Q1 total revenue +7% to $13.3B; cloud revenue (IaaS + SaaS) +21% to $5.6B; Remaining Performance Obligations +53% to a record $99B (13)
Margin expanding 2024-09-09
Q1 GAAP operating margin expanded to 30% from 26% in the prior-year period; non-GAAP operating margin 43% (13)
New market 2024-09-09
Signed MultiCloud agreement with AWS to embed Oracle Database and Exadata hardware in AWS datacenters, with availability expected December 2024 (13)
2024 · 15 events

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

Safra Catz, CEO 11
revenue 2024-06-11
Q4 total revenue grew 3% to $14.3B; Cloud Infrastructure (IaaS) growth moderated to 42% from 49% in Q3 11
New market 2024-06-11
Oracle signed 30+ AI contracts in Q4 totaling more than $12.5B, including OpenAI for ChatGPT training; Total Remaining Performance Obligations grew 44% to $98B driven by record AI sales 11
New market 2024-06-11
Oracle signed agreement with Google to interconnect clouds and build 12 OCI datacenters inside Google Cloud, with 11 of 23 planned Azure-colocated datacenters already live 11

“Large new cloud infrastructure contracts signed in Q3 drove Oracle's total Remaining Performance Obligations up 29% to over $80 billion–an all-time record. We expect to continue receiving large contracts reserving cloud infrastructure capacity because the demand for our Gen2 AI infrastructure substantially exceeds supply–despite the fact we are opening new and expanding existing cloud datacenters very, very rapidly. We expect that 43% of our current $80 billion of Remaining Performance Obligations will be recognized as revenue over the next four quarters, and that our Gen2 Cloud Infrastructure business will remain in a hypergrowth phase–up 53% in Q3–for the foreseeable future.”

Safra Catz, Chief Executive Officer 9
Revenue accelerating 2024-03-11
Total revenue re-accelerated to 7% growth in Q3 to $13.3B, with Cloud Infrastructure (IaaS) revenue up 49% to $1.8B 9
Strategic pivot 2024-03-11
Total Remaining Performance Obligations rose 29% to $80 billion; cloud services represented 38% of total revenues, up from 33% in Q3 fiscal 2023 9, 10
Strategic pivot 2024-03-11
Oracle completed migration of majority of Cerner customers to Gen2 Cloud Infrastructure 9

“Demand for our Cloud Infrastructure and Generative AI services is increasing at an astronomical rate. As a measure of that demand, Oracle's total Remaining Performance Obligations (RPO) climbed to over $65 billion–exceeding annual revenue. Our cloud businesses are now at nearly a $20 billion-dollar annual revenue run rate, and cloud services demand continues to grow at unprecedented levels. Business is good and getting better.”

Safra Catz, Chief Executive Officer 7
revenue 2023-12-11
Total revenue growth slowed to 5% in Q2 from 9% in Q1; cloud revenue growth moderated to 25% from 30%, and IaaS growth to 52% from 66% 7
New market 2023-12-11
Oracle began deploying 20 OCI datacenters colocated with Microsoft Azure and announced plans to build 100 new cloud datacenters globally 7
Strategic pivot 2023-12-11
Total Remaining Performance Obligations climbed to over $65 billion, exceeding Oracle's annual revenue run rate 7

“Oracle Cloud Infrastructure revenue grew 66% in Q1, much faster than our hyperscale cloud infrastructure competitors. Total cloud services revenue, Infrastructure plus Applications, grew 30% to $4.6 billion in the quarter. Oracle Cloud Services plus License Support revenue now accounts for 77% of Oracle's total revenue. This highly-predictable, highly-profitable recurring revenue stream–combined with continued expense discipline–drove 16% growth in non-GAAP earnings per share, 21% growth in free cash flow, and $7.0 billion in operating cash flow in the Q1.”

Safra Catz, Chief Executive Officer 5
Margin expanding 2023-09-12
Q1 GAAP operating margin expanded to 26% from 23% year-over-year, driven by revenue growth and fixed cost leverage 6
revenue 2023-09-11
Cloud revenue (IaaS + SaaS) rose 30% to $4.6B in Q1, with Cloud Infrastructure (IaaS) up 66% to $1.5B year-over-year 5
New market 2023-09-11
AI development companies signed contracts for more than $4B of capacity in Oracle's Gen2 Cloud 5
revenue 2023-06-20
Total revenues increased 18% to $49.954 billion; cloud and license business cloud services revenues grew 47% to $15.881 billion; Services business revenues surged 75%, primarily driven by Cerner acquisition 4
financials 2023-06-20
Outstanding indebtedness $90.5 billion as of May 31, 2023; $12.3 billion of senior notes issued in first nine months to finance Cerner acquisition, with net debt reaching $80.716 billion 4
Strategic pivot 2023-06-20
Cloud services revenues reached 32% of total revenues in fiscal 2023, up from 25% in fiscal 2022 and 22% in fiscal 2021; R&D investments increased to $8.6 billion from $7.2 billion in fiscal 2022 4

Oracle Business Model

What Oracle does and how the company earns its money, written AI-editorially from the original reports alone, without any assessment of our own. NadirAlpha methodology

Oracle develops and markets enterprise software, cloud infrastructure, and hardware systems for large and mid-sized organizations across industries including financial services, healthcare, retail, and government. Revenue is generated through three primary segments: cloud and software (the dominant and fastest-growing stream, comprising subscriptions to cloud applications and infrastructure-as-a-service as well as on-premises software licenses and support), hardware (including Oracle Exadata engineered systems and related support), and services (consulting, advanced customer support, and education). The company's cloud portfolio spans infrastructure-as-a-service via Oracle Cloud Infrastructure, software-as-a-service applications including ERP, HCM, and supply chain management, and healthcare information technology through the Cerner platform, which carries healthcare-specific regulatory obligations. Oracle's economics are characterized by a large installed base of enterprise customers under long-term contracts, an accelerating shift toward recurring cloud subscription revenue, and a capital-intensive expansion phase as the company constructs global data center capacity to serve large-scale cloud and AI workloads. As of Q1 FY2027, cloud revenues reached 60% of total revenues, up from 48% a year earlier, with cloud infrastructure (IaaS) acting as the primary growth driver at 121% year-over-year and contributing 91% of cloud revenue growth; remaining performance obligations stood at $664 billion as of August 31, 2026, reflecting substantial forward revenue commitment from multi-year cloud and AI contracts signed with enterprise and hyperscaler customers.

Oracle Stock: Share-Price Drivers

The drivers of Oracle stock from the company's perspective: demand, prices, costs and capacity as the investor relations reports describe them. NadirAlpha methodology

Cloud and OCI infrastructure demand
Cloud and software is the largest and fastest-growing revenue block, at 17,157 million in 2027-Q1 and up 33% (30), driving total revenue to USD 19,345 million and setting the pace for the overall business (30).
Cloud services and SaaS growth
Cloud and software revenue 17,157 million in 2027-Q1, up 33% with a 55% margin (30); Cloud revenue reached 33,989 million in FY2026, up 39% (27), with NetSuite and Fusion Cloud ERP and OCI cited as growth lines (25).
Data-center capacity build-out (OCI)
Capital expenditure of USD 28,499 million in 2027-Q1 supported data-center leases and contractual commitments (30) and ongoing geographic data-center expansion (26, 18); this pushed free cash flow to USD -5,396 million as capex exceeded operating cash flow of USD 23,103 million (129).
Multicloud database partnerships
Oracle Multicloud datacenters embedded in Amazon, Google and Microsoft clouds (23), Oracle database availability in Google Cloud (11), and 37 additional datacenters planned for hyperscaler partners (21) extend distribution of the database franchise (25).
AI database and AI data platform adoption
Oracle AI Data Platform launched (29), alongside Oracle Autonomous AI Database (28) and Oracle Multicloud AI Database (27) and the Oracle AI Database service (21), positioning the database for AI workloads.
Oracle Health / Cerner integration
Cerner acquisition still being integrated (28), with migration of Cerner customers to Gen2 Cloud Infrastructure (9) and new Oracle Health AI patient care and clinical-trial systems planned (27).
Profitability and margin trajectory
Operating income was USD 6,728 million and adjusted operating income USD 8,151 million in 2027-Q1 (129), with Cloud and License margin of 63% in FY2025 (20) indicating scale in the core segment.

Sector trend: Cloud infrastructure and database demand is heading higher, with segment revenue and margins in the cloud lines expanding (30, 27), while heavy data-center capital spending keeps free cash flow negative even as operating profitability improves (129).

Oracle Revenue by Type (as of 2027-Q1 · USD million · 5/14)

Where the revenue of Oracle comes from: segments and product types with share, growth and margin, as of Q1 FY2027, older structures remain in the expandable part. NadirAlpha methodology

Oracle: revenue by segment, as of 2027-Q1, in USD million. Compiled by NadirAlpha from SEC filings.
SegmentSinceRevenueGrowthMarginSource
Period 2027-Q1 (3M)
Cloud and SoftwareFY202517,15733%55%30
ServicesFY20221,4145%31%30
HardwareFY202277415%58%30
Period FY2026 (12M?)
Cloud2026-Q133,98939%–27
Software2026-Q124,5411%–27
Period FY2025 (12M?)
Cloud Services and License Support2023-Q344,02912%–19
Cloud License and On-Premise License2023-Q35,2012%–19
Period FY2025 (12M)
Cloud and LicenseFY202249,23011%63%20
Period FY2023 (12M)
Services Business - AmericasFY20233,703143%–4
Hardware Business - AmericasFY20231,70210%–4
Services Business - EMEAFY20231,24628%–4
Hardware Business - EMEAFY20239333%–4
Services Business - Asia PacificFY202364512%–4
Hardware Business - Asia PacificFY20236393%–4

Oracle Products & announcements (15/28 active+recent)

Product announcements of Oracle from the reports: market launches, approvals, partnerships, with first mention and source; discontinued products are shown in grey. NadirAlpha methodology

Status: PlannedLaunched

Oracle: product announcements from the filings, 26 entries. Compiled by NadirAlpha from SEC filings.
Product/LineSinceStatusSource
2027
100% Agentic AI Health Care Management System2027-0329
2026
Oracle Health AI patient care management system based on Cerner2026-1227
Oracle AI clinical trial system2026-1227
Oracle Cloud Database (IaaS)2026-0925
Fusion Cloud ERP (SaaS) (2×)2026-0925
AI Code Generation technology2026-0925
Data center leases and contractual commitments2026-0830
Oracle Multicloud datacenters embedded in Amazon, Google and Microsoft clouds2026-0623
37 additional datacenters for Hyperscaler partners2026-0321
Oracle Roving Edge Infrastructure202628
Oracle Compute Cloud@Customer202628
Oracle Alloy202628
OCI Sovereign Cloud202628
2025
Multicloud Database (6x)2025-1228
Oracle AI Data Platform2025-0329
Stargate contract signing2025-0917
Data center capacity doubling202517
2024
Oracle database availability in Google Cloud (2×)2024-1211
OCI datacenters inside Azure2024-1211
Ambulatory Clinic Cloud Application Suite with Clinical Digital Assistant2024-129
Oracle Cloud data center expansion (4x)2024-0618
2023
Oracle Cloud Services expansion (7×)2023-1226
Microsoft Azure integration via collocated datacenters2023-127
Gen2 Cloud for Generative AI workloads2023-123
Oracle Exadata strategic hardware product growth2023-092
Oracle Exadata Cloud@Customer deployments20234

Oracle Transactions & Events (11)

11 transactions and events of Oracle from the original reports, financing measures and management changes are not listed here, cancelled items in grey. NadirAlpha methodology

Acquisitions · 4Partnerships/contracts · 3Divestitures/exits · 3older: 1 (in the table)
20252026

Acquisitions by Oracle

Oracle: Acquisitions, 5 entries. Compiled by NadirAlpha from SEC filings.
Transaction / stakeDateTypeSource
2025
Ampere Computing Acquisition by SoftBank2025-03Completed22
2024
OpenAI ChatGPT training in Oracle Cloud2024-12Completed11
Migration of Cerner customers to Gen2 Cloud Infrastructure2024-09Completed9
Ampere Convertible Debt Investment (3x)2024Completed18
2022
Cerner acquisition2022-06Completed28

Divestitures and exits by Oracle

Oracle: Divestitures / exits, 3 entries. Compiled by NadirAlpha from SEC filings.
Transaction / stakeDateTypeSource
2026
Sale of Bloom Energy warrants2026-12Divested27
Sale of Ampere chip business2026-12Divested27
Ampere Computing investment sale2026-02Divested26

Partnerships and contracts of Oracle

Oracle: Partnerships & contracts, 3 entries. Compiled by NadirAlpha from SEC filings.
Transaction / stakeDateTypeSource
2026
Equity Distribution Agreement (ATM Program) amendment2026-06Agreement30
2025
Meta agreement for Oracle AI Cloud Infrastructure and AI Agents development2025-06Agreement15
2024
MultiCloud agreement with AWS2024-09Agreement13

Oracle Risks (68 since the annual report of 2026-06-22, 190 tracked in total)

NadirAlpha lists 68 active risks of Oracle from the filings, the category as a coloured dot with legend, the wording as a short summary of the filing with no assessment of our own. NadirAlpha methodology

Category: LegalTechnologyMacroRegulatoryCyberCompetitionCustomersSupply chainESGFinancialGeopoliticsMarketPeopleStrategy

Oracle: risk factors as reported, 68 since the last annual report, 190 tracked. Compiled by NadirAlpha from SEC filings.
RiskCategoryLast reported
Oracle: first mention in 8-K-EX99.1 earnings release of 2026-09-10 (2027-Q1), source 29
Risks associated with acquisitions, joint ventures and strategic alliances=
AI products may not operate as anticipated, affecting cloud strategy execution=
Significant coding, manufacturing or configuration errors in cloud and hardware offerings=
Sourcing of technologies and components such as graphic processing units=
Oracle: first mention in 10-Q quarterly report of 2026-03-11 (2026-Q3), source 26
Inflation, tariffs, trade policy and geopolitical conditions affect customer demand2027-Q1
2026-09-11 30
Oracle: first mention in 8-K-EX99.1 earnings release of 2025-12-10 (2026-Q2), source 23
Business volatility and risks associated with government contracting2027-Q1
2026-09-10 29
Oracle: first mention in 8-K-EX99.1 earnings release of 2025-06-11 (2025-Q4), source 19
Ability to anticipate, plan for, secure and manage datacenter capacity2027-Q1
2026-09-10 29
Oracle: first mention in 10-Q quarterly report of 2024-09-10 (2025-Q1), source 14
Governmental budgetary constraints impact customer spending decisions2027-Q1
2026-09-11 30
Oracle: first mention in 10-K annual report of 2024-06-20 (FY2024), source 12
Information technology system failures, privacy and data security concerns2027-Q1
2026-09-10 29
Oracle: first mention in 10-Q quarterly report of 2023-12-12 (2024-Q2), source 8
Competitive position affected by cloud market dynamics and hardware technology obsolescence2027-Q1
2026-09-11 30
Oracle: first mention in 10-Q quarterly report of 2023-09-12 (2024-Q1), source 6
Ability to manage cloud infrastructure capacity critical to meeting customer demand growth2027-Q1
2026-09-11 30
Oracle: first mention in 10-Q quarterly report of 2023-03-10 (2023-Q3), source 2
Revenue concentration in cloud and software business at 88% of total revenues2027-Q1
2026-09-11 30
Foreign currency fluctuations materially affect reported international revenues and expenses2027-Q1
2026-09-11 30
Oracle: first mention in 8-K-EX99.1 earnings release of 2023-03-09 (2023-Q3), source 1
Manufacturing partner ability to timely deliver hardware affects quarterly results2027-Q1
2026-09-11 30
Economic, political and market conditions, including tariffs and trade wars2027-Q1
2026-09-10 29
Oracle: first mention in 10-K annual report of 2026-06-22 (FY2026), source 28
Failure to meet disclosed ESG goals could harm reputation and revenues.=
Higher interest rates could increase debt refinancing costs and limit credit access.=
Uncertain tax positions and audits could increase tax liabilities and effective tax rate.=
Middle East conflicts, Russia-Ukraine war, and China-Taiwan tensions could disrupt operations.=
Trade restrictions, tariffs, export controls and sanctions impacting operations=
Loss of key customers or customer insolvency could reduce growth=
Dependency on single-source suppliers for critical components and supply chain disruptions=
Constraints on energy and power availability for data center operations=
Significant geographic concentration of critical operations could disrupt business if disrupted.=
High AI infrastructure investments may not generate expected returns=
AI products may not operate as anticipated or meet customer needs=
Competition for skilled employees in AI and technical fields=
Acquisitions may fail to meet strategic expectations, resulting in impairment charges or integration difficulties.=
GDPR and expanding global privacy laws could result in significant fines and compliance costs.=
Government contract terminations and audits could result in penalties and loss of business.=
Volatility in government customer contracts and procurement regulations=
Strict healthcare industry regulations due to Cerner acquisition=
Healthcare industry regulations and FDA requirements could restrict product offerings and increase compliance costs.=
Sanctions, export controls and trade restrictions could limit ability to serve certain customers.=
Cybersecurity breaches and data protection compliance risks=
Capital expenditures increased significantly to $55.7 billion and expected to continue increasing in fiscal 2027.=
Fluctuations in foreign currencies could significantly impact revenues and operating results.=
International operations subject to foreign currency translation and transaction risks in multiple currencies.=
Interest expense increased $1.0 billion from higher average borrowings to $43.0 billion senior notes issuance.=
Quarterly revenue fluctuations and large transaction timing could impact profitability predictions.=
Inability to execute cloud strategy could harm reputation and reduce revenues=
Third-party claims of intellectual property infringement or misuse=
Adverse litigation outcomes could result in monetary damages or injunctive relief.=
Evolving AI regulations and compliance uncertainties across jurisdictions=
Company expanding data center capacity and establishing new geographic locations to meet customer demand.=
Third-party IP infringement claims could require costly litigation and product redesigns.=
Difficulty protecting intellectual property in countries with weak IP laws could harm competitiveness.=
Loss of key channel relationships could impact sales opportunities and revenues.=
Intense competition from large technology companies and new market entrants=
Oracle: first mention in 8-K-EX99.1 earnings release of 2026-06-10 (2026-Q4), source 27
Significant capital expenditures required to build and scale AI cloud datacenters globally=
IT system failures, significant coding or configuration errors could impact cloud offerings=
Oracle: first mention in 10-Q quarterly report of 2026-03-11 (2026-Q3), source 26
Common stock ranks junior to Mandatory Convertible Preferred Stock for dividends and liquidation=
Conversion of Mandatory Convertible Preferred Stock will dilute common stockholders=
Oracle: first mention in 10-Q quarterly report of 2025-09-10 (2026-Q1), source 22
Complex mix of income earned in various tax jurisdictions with broad range of rates=
Oracle: first mention in 10-K annual report of 2025-06-18 (FY2025), source 20
Currency exchange rate fluctuations affecting revenues and profitabilityFY2026
2026-06-22 28
Portfolio investments could experience impairment charges or fair value losses.FY2026
2026-06-22 28
Oracle: first mention in 10-Q quarterly report of 2025-03-11 (2025-Q3), source 18
Adverse rulings in tax-related litigation affecting tax positions2026-Q1
2025-09-10 22
Oracle: first mention in 8-K-EX99.1 earnings release of 2025-03-10 (2025-Q3), source 17
Cybersecurity incidents and data breaches could compromise customer and company data.FY2026
2026-06-22 28
Difficulty securing affordable data center capacity or managing infrastructure requirementsFY2026
2026-06-22 28
Oracle: first mention in 10-K annual report of 2024-06-20 (FY2024), source 12
ESG regulations and carbon emission requirements could increase operational and compliance costs.FY2026
2026-06-22 28
U.S. One Big Beautiful Bill Act enactment resulted in $933 million unfavorable deferred tax liability remeasurement.FY2026
2026-06-22 28
Oracle: first mention in 8-K-EX99.1 earnings release of 2023-09-11 (2024-Q1), source 5
Unfavorable legal proceedings and government investigations may adversely affect Oracle2026-Q4
2026-06-10 27
Oracle: first mention in 10-K annual report of 2023-06-20 (FY2023), source 4
Natural disasters, geopolitical events and transportation disruptionsFY2026
2026-06-22 28
Delays or failures in developing new or differentiated products and servicesFY2026
2026-06-22 28
Oracle: first mention in 8-K-EX99.1 earnings release of 2023-03-09 (2023-Q3), source 1
Integration of acquired products and services may not succeed; risks from GPU sourcing2026-Q4
2026-06-10 27
Complex and changing laws and regulations create operational uncertainty2026-Q4
2026-06-10 27
Cybersecurity breaches and privacy concerns pose material operational and reputational risks2026-Q4
2026-06-10 27
Coding or manufacturing errors affecting product functionality and performanceFY2026
2026-06-22 28
= last mention identical with the first mention (same source)

Oracle Reported KPIs (as disclosed) (204)

Figures Oracle discloses itself in addition to the standard financials, such as order intake, recurring revenue or unit counts, as reported and with no calculation of our own. NadirAlpha methodology

Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
Oracle: reported KPIs as disclosed, 204 entries. Compiled by NadirAlpha from SEC filings.
KPIValue / changeSource
Oracle, published 2026-09-11, period 2027-Q1
Remaining Performance Obligations664 billion30
Cloud revenues as % of total revenues60%30
Oracle, published 2026-09-10, period 2027-Q1
Remaining Performance Obligations (RPO)$664 billion29
RPO year-over-year increase$209 billion29
GPUs delivered to AI Cloud customersmore than 300,00029
Cloud Infrastructure (IaaS) Revenue7.4 billion29
Cloud Applications (SaaS) Revenue4.2 billion29
Additional datacenter capacity delivered850MW29
AI cloud contracts bookedmore than $30 billion29
Oracle, published 2026-06-22, period FY2026
Working Capital4,80328
Services as Percent of Total Revenues Fiscal8%28
Remaining Performance Obligations638 billion28
Outstanding Indebtedness$129.5 billion28
Net Cash Used for Investing Activities(51,854)28
Net Cash Provided by Financing Activities40,28428
Hardware as percent of total revenues5%28
Cloud revenues as percent of total revenues51%28
Cloud and software as percent of total revenues fiscal87%28
Cash, cash equivalents and marketable securities31,89428
Oracle, published 2026-06-10, period 2026-Q4
Remaining Performance Obligations growth$85 billion sequentially from Q3 to Q427
Remaining Performance Obligations$638 billion27
Operating Cash Flow$31,97727
Cloud Infrastructure IaaS Revenue Q4$5.8 billion27
Cloud Infrastructure IaaS Revenue$18.1 billion27
Cloud Applications SaaS Revenue Q4$4.1 billion27
Cloud Applications SaaS Revenue$15.9 billion27
Oracle, published 2026-03-11, period 2026-Q3
Remaining Performance Obligations552.6 billion26
Net cash from operating activities17,357 million26
Cloud revenues % of total revenues (three months)52%26
Cloud revenues % of total revenues (nine months)50%26
Capital expenditures39.2 billion26
Oracle, published 2026-03-10, period 2026-Q3
Short-term deferred revenues$9.9 billion25
Remaining Performance Obligations (RPO)$553 billion25
Operating Cash Flow (trailing$23.5 billion25
Oracle, published 2025-12-11, period 2026-Q2
Remaining Performance Obligations523.3 billion24
Cloud revenues % of total revenues50%24
Cloud revenues % of total revenues42%24
Cloud revenues % of total revenues49%24
Cloud revenues % of total revenues42%24
Oracle, published 2025-12-10, period 2026-Q2
Short-Term Deferred Revenues9.9 billion23
Remaining Performance Obligations523 billion23
Operating Cash Flow (12 months)22.3 billion23
NetSuite Cloud ERP Revenue1.0 billion23
Fusion Cloud ERP Revenue1.1 billion23
Cloud Revenue8.0 billion23
Cloud Infrastructure Revenue4.1 billion23
Cloud Application Revenue3.9 billion23
Oracle, published 2025-09-10, period 2026-Q1
Stock-based awards annualized dilution rate1.6%22
Services revenue % of total9%22
Remaining Performance Obligations$455.3 billion22
Maximum potential dilution from stock-based awards4.0%22
Hardware revenue % of total5%22
Cloud revenues % of total revenues48%22
Cloud and software revenue % of total86%22
Ampere equity ownershipapproximately 29%22
Ampere carrying value$1.7 billion22
Oracle, published 2025-09-09, period 2026-Q1
Short-term deferred revenues12.1 billion21
Remaining Performance Obligations (RPO)455 billion21
Operating Cash Flow (last21.5 billion21
NetSuite Cloud ERP (SaaS) Revenue1.0 billion21
MultiCloud database revenue growth1,529%21
Fusion Cloud ERP (SaaS) Revenue1.0 billion21
Cloud Revenue (IaaS + SaaS)7.2 billion21
Cloud Infrastructure (IaaS) Revenue3.3 billion21
Cloud Application (SaaS) Revenue3.8 billion21
Oracle, published 2025-06-11, period 2025-Q4
Short-Term Deferred Revenues9.4 billion19
Remaining Performance Obligations138 billion19
Oracle Cloud@Customer Dedicated Datacenters Live2919
Oracle Cloud@Customer Datacenters Being Built3019
NetSuite Cloud ERP Revenue1.0 billion19
MultiCloud Datacenters Live2319
MultiCloud Datacenters Being Built4719
Fusion Cloud ERP Revenue1.0 billion19
Cloud Revenue6.7 billion19
Cloud Infrastructure Revenue3.0 billion19
Cloud Application Revenue3.7 billion19
Oracle, published 2025-03-11, period 2025-Q3
Total operating margin % (three months)31%18
Total operating margin % (nine months)30%18
Services % of Total Revenues10%18
Services margin % (three months)20%18
Services margin % (nine months)18%18
Infrastructure cloud services and license support % of growth77%18
Hardware % of Total Revenues5%18
hardware margin pct64%18
hardware margin pct62%18
free cash flow trailing 4 quarters$5,81218
cloud services revenues pct of total44%18
Cloud and License % of Total Revenues85%18
cloud and license margin pct63%18
cloud and license margin pct63%18
cash provided by operating activities$14,66418
applications cloud services and license support pct of growth23%18
Ampere Computing ownership pct29%18
Ampere Computing carrying value$1.5 billion18
Oracle, published 2025-03-10, period 2025-Q3
Short-term deferred revenues$9.0 billion17
Remaining Performance Obligations$130 billion17
Q3 Remaining Performance Obligations Growth62% in USD, 63% in constant currency17
Q3 Cloud Revenue Growth23% in USD, 25% in constant currency17
Q3 Cloud Revenue$6.2 billion17
Q3 Cloud Infrastructure Revenue$2.7 billion17
Q3 Cloud Infrastructure Growth49% in USD, 51% in constant currency17
Operating Cash Flow (LTM)$20.7 billion17
GPU Consumption for AI Training Growthgrew 244% in the last 12 months17
Free Cash Flow (LTM)$5.8 billion17
Database MultiCloud Revenue Growthup 92% in the last three months17
Oracle, published 2024-12-10, period 2025-Q2
Services Percentage of Total Revenues Trailing 4Q10%16
Maximum Potential Dilution Outstanding Awards6.1%16
Hardware Percentage of Total Revenues Trailing 4Q5%16
Cumulative Potential Dilution Annualized Rate1.8%16
Cloud and License Percentage of Total Revenues Trailing 4Q85%16
Cloud Services Percentage of Total Revenues42%16
Ampere Ownership Interestapproximately 29%16
Ampere Investment Carrying Value$1.5 billion16
Oracle, published 2024-12-09, period 2025-Q2
Total Remaining Performance Obligations97 billion15
Short-term deferred revenues9.4 billion15
NetSuite Cloud ERP (SaaS) Revenue0.9 billion15
Fusion Cloud ERP (SaaS) Revenue0.9 billion15
Cloud Revenue (IaaS + SaaS)5.9 billion15
Cloud Infrastructure (IaaS) Revenue2.4 billion15
Cloud Application (SaaS) Revenue3.5 billion15
Oracle, published 2024-09-10, period 2025-Q1
Services business percentage of total revenues trailing 4-quarter10%14
Operating lease commitments$36.2 billion14
Maximum potential dilution from outstanding stock-based awards6.1%14
Hardware business percentage of total revenues trailing 4-quarter6%14
Free cash flow trailing 4-quarters$11,271 million14
Cumulative potential dilution annualized rate since June 11.9%14
Cloud services revenues percentage of total revenues42%14
Cloud services revenues percentage of total revenues37%14
Cloud and license business percentage of total revenues trailing 4-quarter84%14
Ampere convertible debt investment$75 million14
Ampere Computing Holdings LLC ownership percentageapproximately 29%14
Ampere Computing Holdings LLC carrying value$1.5 billion14
Oracle, published 2024-09-09, period 2025-Q1
Short-term deferred revenues$11.5 billion13
Remaining Performance Obligations$99 billion13
Operating Cash Flow (Trailing$19.1 billion13
NetSuite Cloud ERP (SaaS) Revenue$0.9 billion13
Fusion Cloud ERP (SaaS) Revenue$0.9 billion13
Cloud Datacenters in Operation and Under Construction16213
Cloud Revenue (IaaS + SaaS)$5.6 billion13
Cloud Infrastructure (IaaS) Revenue$2.2 billion13
Cloud GPU Contracts Signed (Q1)42 additional, total $3 billion13
Cloud Application (SaaS) Revenue$3.5 billion13
Oracle, published 2024-06-20, period FY2024
Unrecognized Income Tax Benefits$11.0 billion12
Total In-the-Money Stock-Based Awards %6.9%12
Stock Repurchase Authorization Available$7.0 billion12
Stock-Based Awards Outstanding %6.9%12
Non-Marketable Equity & Convertible Debt Investments$2.0 billion12
Net Cash from Operating Activities % of Net Income178%12
Free Cash Flow % of Net Income113%12
Effective Tax Rate10.9%12
Annualized Dilution Rate2.1%12
Oracle, published 2024-06-11, period 2024-Q4
Total Remaining Performance Obligations98 billion11
Short-term deferred revenues9.3 billion11
NetSuite Cloud ERP (SaaS) Revenue0.8 billion11
Fusion Cloud ERP (SaaS) Revenue0.8 billion11
Cloud Revenue (IaaS + SaaS)5.3 billion11
Cloud Infrastructure (IaaS) Revenue2.0 billion11
Cloud Application (SaaS) Revenue3.3 billion11
Oracle, published 2024-03-12, period 2024-Q3
Unconditional Purchase Obligations$4.4 billion10
Stock Based Awards Dilution Annualized Rate1.6%10
Services Revenues pct of total10%10
Operating Lease Commitments$18.8 billion10
Operating Cash Flow Trailing 4Q$18,23910
Maximum Potential Dilution7.2%10
Hardware Revenues pct of total6%10
Free Cash Flow Trailing 4Q$12,25810
Cloud Services Revenues pct of total 9m37%10
Cloud Services Revenues pct of total38%10
Cloud License and License Support revenue pct62%10
Capital Expenditures Trailing 4Q(5,981)10
Ampere Investment Carrying Value$1.4 billion10
Ampere Equity Ownership pct29%10
Ampere Convertible Debt MaturityJune 202610
Oracle, published 2024-03-11, period 2024-Q3
Total Remaining Performance Obligations$80 billion9
Short-term deferred revenues$8.9 billion9
Operating Cash Flow (last$18.2 billion9
NetSuite Cloud ERP (SaaS) Revenue$0.8 billion9
Fusion Cloud ERP (SaaS) Revenue$0.8 billion9
Cloud Revenue$5.1 billion9
Cloud Infrastructure (IaaS) Revenue$1.8 billion9
Cloud Application (SaaS) Revenue$3.3 billion9
Oracle, published 2023-12-12, period 2024-Q2
Services business (% of total revenues)11%8
Hardware business (% of total revenues)6%8
Cloud services revenues (% of total revenues)37%8
Cloud and license business (% of total revenues)83%8
Oracle, published 2023-12-11, period 2024-Q2
Total Remaining Performance Obligationsover $65 billion7
Short-term deferred revenues8.9 billion7
NetSuite Cloud ERP (SaaS) Revenue0.8 billion7
Fusion Cloud ERP (SaaS) Revenue0.8 billion7
Cloud Revenue (IaaS + SaaS)4.8 billion7
Cloud Infrastructure (IaaS) Revenue1.6 billion7
Cloud Application (SaaS) Revenue3.2 billion7
Oracle, published 2023-09-12, period 2024-Q1
Working capital(3,191)6
Remaining performance obligations64.9 billion6
Maximum potential dilution from stock-based awards6.6%6
Cash, cash equivalents and marketable securities12,0836
Annualized stock-based dilution rate since June1.7%6
Oracle, published 2023-09-11, period 2024-Q1
Short-term deferred revenues11.1 billion5
NetSuite Cloud ERP (SaaS) Revenue0.7 billion5
Fusion Cloud ERP (SaaS) Revenue0.8 billion5
Cloud Revenue (IaaS + SaaS)4.6 billion5
Cloud Infrastructure (IaaS) Revenue1.5 billion5
Cloud Application (SaaS) Revenue3.1 billion5
AI development companies contracted capacity$4 billion5

Oracle Development

How Oracle has developed since 2024: one paragraph per period on revenue, earnings, cash flow and drivers, most recent period first, grouped by year. NadirAlpha methodology

FY2027: Oracle

In Q1 FY2027, Oracle reported total revenues of 19,345 million, up 30% year on year, as cloud revenues rose 62% to $11.6 billion and represented 60% of total revenues compared to 48% in the prior year period 29 30. Cloud Infrastructure (IaaS) revenue grew 121% to $7.4 billion, contributing 91% of cloud revenue growth in the quarter 29 30. GAAP operating income reached 6,728 million, up 57%, and non-GAAP operating income was 8,151 million, up 31%, as operating margin expanded to 35% from 29% in the prior year period 29 30. Operating cash flow reached a record 23,103 million, up 184%, while capital expenditures of 28,499 million, up from $8.5 billion in the prior year period, reflected accelerated data center expansion to meet cloud demand, resulting in free cash flow of -5,396 million 29 30. Remaining performance obligations grew to $664 billion from $455 billion a year earlier, supported by more than $30 billion in new AI cloud contracts booked during the quarter 29 30.

FY2026: Oracle

Oracle's FY2026 total revenues reached a record $67.4 billion, up 17% in USD, as cloud revenue grew 39% to $34.0 billion and rose to 51% of total revenues from 43% in the prior year 27 28. Cloud infrastructure (IaaS) was the primary growth engine, contributing 84% of cloud revenue growth for the full year, with quarterly IaaS growth rates accelerating from 55% in Q1 to 93% in Q4 28 27. FY2026 GAAP EPS rose 34% to $5.83 and non-GAAP EPS rose 27% to $7.63; GAAP net income included a $2.7 billion pre-tax gain from the divestiture of Oracle's investment in Ampere Computing Holdings LLC 27 23. Remaining performance obligations expanded from $138 billion to $638 billion during the fiscal year, primarily attributable to significant AI-related cloud contracts entered during the period 28 27. To fund cloud infrastructure expansion Oracle issued $43.0 billion in senior notes and $5.0 billion in mandatory convertible preferred stock, driving capital expenditures to $55.7 billion and resulting in negative free cash flow of $23.7 billion, while operating cash flow reached a record $32.0 billion, up 54% from the prior year 27 28.

FY2025: Oracle

Oracle's FY2025 total revenue grew 8% year-over-year to $57.4 billion, with cloud services revenues increasing 24% to $24.5 billion and reaching 43% of total revenues, up from 37% in FY2024 (20). GAAP operating income rose 15% to $17.7 billion and the operating margin expanded to 31% from 29% in the prior year, with the improvement partly attributable to a $703 million year-over-year reduction in amortization of acquired intangible assets as certain acquired assets became fully amortized (20). Capital expenditures increased 209% to $21.2 billion to fund data center expansion, driving full-year free cash flow to negative $(394) million compared to positive $11.8 billion in FY2024, while operating cash flow grew 12% to $20.8 billion (20). Remaining Performance Obligations expanded from $99 billion at the end of Q1 to $138 billion at year-end, a 41% year-over-year increase by Q4, supported by cloud agreements signed with hyperscalers and AI providers throughout FY2025 (13, 19). Oracle issued $14.0 billion in senior notes during FY2025 and carried net debt of $81.8 billion at year-end, with total outstanding indebtedness of $92.6 billion maturing through 2065 (20, 27).

FY2024: Oracle

Oracle generated total revenue of $52,961 million in fiscal year 2024, a 6% increase year-over-year, with cloud services revenue growing 25% to $19.8 billion and representing 37% of total revenues, up from 32% in fiscal 2023 12. Adjusted operating income reached $23,055 million and GAAP net income was $10,467 million, with diluted EPS of $3.71 and adjusted EPS of $5.56 19. Operating cash flow increased 9% to $18,673 million while free cash flow grew 39% to $11,807 million, with year-end net debt of $76,415 million 19. Cloud Infrastructure (IaaS) revenue grew between 42% and 66% across the four quarters as AI-driven demand lifted Total Remaining Performance Obligations 44% to $98 billion by fiscal year-end 5, 11. Oracle signed more than 30 AI contracts totaling over $12.5 billion in Q4 alone, including a contract with OpenAI for ChatGPT training, and expanded multicloud partnerships with Microsoft Azure and Google Cloud during the second half of the year 11.

FY2023: Oracle

Oracle's fiscal year 2023 total revenue grew 18% in USD and 22% in constant currency to $49.954 billion, driven primarily by the June 2022 acquisition of Cerner Corporation, which contributed $5.9 billion to revenues 4. Cloud services revenues grew 47% to $15.881 billion, lifting cloud's share of total revenues to 32% from 25% in fiscal 2022, with Cloud Infrastructure (IaaS) and Cloud Application (SaaS) both posting double-digit growth throughout the year 4. GAAP operating income was $13.093 billion (26% of revenues) and adjusted non-GAAP operating income was $20.902 billion; both GAAP and non-GAAP operating margins were compressed year-over-year, driven by Cerner-related amortization of intangibles (up 212% to $3.6 billion) and integration costs 11 4. Operating cash flow increased 80% to $17.165 billion and free cash flow was $8.470 billion, while net debt stood at $80.716 billion reflecting senior notes issued to fund the Cerner acquisition 11 4.

Glossary

  • Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
  • Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
  • Op. income (adj.): Adjusted operating income, verbatim and company-defined (non-GAAP), never derived.
  • EBITDA (adj.): Adjusted EBITDA, verbatim and company-defined (non-GAAP), never derived.
  • Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
  • EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
  • EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
  • FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
  • OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
  • Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
  • Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
  • *: derived, the formula is in the hover
  • ≈: calculated, approximation
  • ~: uncertain; the value stays visible, verdicts do not use it
  • °: repaired by a targeted query against the document, or curated with documentary evidence
  • EBIT: EBIT as a fallback: the income statement carries no operating line
  • basic: basic earnings per share as a fallback when diluted is missing

Sources: quarterly reports, annual reports and investor relations documents

The evidence base for Oracle stock: every document with type and date, every figure in the report leads here by number and to the original by link. NadirAlpha methodology

51 documents · 2016 to 2026 · SEC EDGAR (USA)
Sources for Oracle stock: 51 original documents, 2016 to 2026. Compiled by NadirAlpha.
#Document typePublished
#1 / #1018-K-EX99.1 earnings release2023-03-09
#210-Q quarterly report2023-03-10
#3 / #1038-K-EX99.1 earnings release2023-06-12
#410-K annual report2023-06-20
#58-K-EX99.1 earnings release2023-09-11
#6 / #10610-Q quarterly report2023-09-12
#7 / #1078-K-EX99.1 earnings release2023-12-11
#810-Q quarterly report2023-12-12
#9 / #1098-K-EX99.1 earnings release2024-03-11
#1010-Q quarterly report2024-03-12
#11 / #1118-K-EX99.1 earnings release2024-06-11
#1210-K annual report2024-06-20
#13 / #1138-K-EX99.1 earnings release2024-09-09
#1410-Q quarterly report2024-09-10
#15 / #1158-K-EX99.1 earnings release2024-12-09
#1610-Q quarterly report2024-12-10
#17 / #1178-K-EX99.1 earnings release2025-03-10
#1810-Q quarterly report2025-03-11
#19 / #1198-K-EX99.1 earnings release2025-06-11
#2010-K annual report2025-06-18
#21 / #1218-K-EX99.1 earnings release2025-09-09
#2210-Q quarterly report2025-09-10
#23 / #1238-K-EX99.1 earnings release2025-12-10
#2410-Q quarterly report2025-12-11
#25 / #1258-K-EX99.1 earnings release2026-03-10
#2610-Q quarterly report2026-03-11
#27 / #1278-K-EX99.1 earnings release2026-06-10
#2810-K annual report2026-06-22
#29 / #1298-K-EX99.1 earnings release2026-09-10
#3010-Q quarterly report2026-09-11
Older sources (+21)
Older sources for Oracle, 21 documents
#Document typePublished
#20110-Q quarterly report2016-03-18
#20510-K annual report2016-06-22
#20210-Q quarterly report2016-09-19
#20310-Q quarterly report2016-12-19
#20410-Q quarterly report2017-03-17
#20610-Q quarterly report2017-06-27
#20710-K annual report2018-06-22
#21110-K annual report2018-06-22
#20810-Q quarterly report2018-09-19
#20910-Q quarterly report2018-12-19
#21010-Q quarterly report2019-03-18
#21210-Q quarterly report2019-09-13
#21310-Q quarterly report2019-12-13
#21410-Q quarterly report2020-03-13
#21510-K annual report2020-06-22
#21910-K annual report2020-06-22
#21610-Q quarterly report2020-09-15
#21710-Q quarterly report2020-12-11
#21810-Q quarterly report2021-03-11
#22010-Q quarterly report2021-09-13
#22110-Q quarterly report2021-12-10

Oracle Stock FAQ

Is there a management forecast (guidance) for FY2027?

Yes. Management has issued targets for FY2027, including EPS (non-GAAP). The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.

Which additional key figures does Oracle report?

As reported for Q1 FY2027 (Jun to Aug 2026): Cloud Infrastructure (IaaS) Revenue, Remaining Performance Obligations, Remaining Performance Obligations (RPO), Cloud revenues as % of total revenues, RPO year-over-year increase, GPUs delivered to AI Cloud customers. The chapter Reported KPIs lists every value with its source. Revenue is broken down by Cloud and Software, Services, Hardware, Cloud.

Where can I find the official investor relations documents of Oracle?

NadirAlpha links all 51 original filings used (SEC filings) in the sources chapter: earnings release, quarterly report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.

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