Observability Software

Oracle (NYSE: ORCL) — Q1 FY2027 Post Earnings

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Oracle ORCL q1 27 post earnings Finance Note

Operations

Q1 2027
Q1 Revenue ↑ 29.6% YoY $19.35B
Segments
Cloud and Software 88.7%
Hardware 4.0%
Services 7.3%

Key Earnings Driver

Cloud Infrastructure Cloud and Software revenue increased 32.9% year over year, with Cloud revenue increasing 61.5% to $11.6B, while Software revenue declined 3% to $5.5B. Within Cloud, Cloud Applications revenue increased 9.9% to $4.2B and Cloud Infrastructure revenue increased 120.7% to $7.4B. Hardware revenue increased 15.5% to $0.8B, and Services revenue increased 4.8% to $1.4B. Oracle’s Q1 total revenue increase reflected strong execution in its Cloud Infrastructure business, with the delivery of 850MW additional datacenter capacity.

Key Operating Metrics¹

METRIC

STATUS

Cloud and Software↑ 32.9%

Cloud↑ 61.5%

Cloud Infrastructure↑ 120.7%

🟢 Scaling

Cloud Applications↑ 9.9%

Software↓ 3.0%

Software License↓ 14.5%

🟡 Watch

Software Support↓ 1.2%

🟡 Watch

Key Financial Metrics

Gross Margin 60.03% -4.7 pp YoY
Backlog / Revenue 3,431.9% 34.31x Qtr Rev
CapEx Intensity 147.32% 1.47x Revenue

Sources: Oracle Q1 FY2027 Earnings Release — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Oracle (NYSE: ORCL) — Q1 FY2027 Pre Earnings

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Pre earnings note company quarterly analysis

Operations

Q4 2026
Q4 Revenue ↑ 20.6% YoY $19.18B
Segments
Cloud and Software 87.3%
Hardware 4.8%
Services 7.9%

Key Earnings Driver

Multicloud AI Database Cloud and Software revenue increased 22.1% year over year, with Cloud revenue increasing 47.1% to $9.9B, while Software declined 2.1% to $6.8B. Within Cloud, Cloud Infrastructure revenue increased 93.2% to $5.8B, with management reporting that Multicloud AI Database increased 404% and was its fastest-growing business ever, and Cloud Applications revenue increased 10.3% to $4.1B. Hardware increased 8.7% to $0.9B, and Services increased 13.0% to $1.5B.

Key Operating Metrics¹

METRIC

STATUS

Cloud and Software↑ 22.1%

Cloud↑ 47.1%

Cloud Infrastructure↑ 93.3%

Multicloud AI Database↑ 404.0%

🟢 Scaling

Cloud Applications↑ 10.2%

Software↓ 2.1%

Software License↓ 6.3%

🟡 Watch

Software Support↓ 0.4%

🟡 Watch

Sources: Oracle Q4 FY2026 Earnings Release — Company Website, Oracle Q4 FY2026 Form 10-Q — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Zscaler (NASDAQ: ZS) — Q4 FY2026 Post Earnings

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Zscaler ZS q4 post earnings finance note

Operations

Q4 2026
Q4 Revenue ↑ 24.9% YoY $898.2M
Segments
Zscaler 100.0%

Key Earnings Driver

Z-Flex Zscaler revenue increased 24.9% year over year to $898.2M. Within Zscaler, Z-Flex TCV exceeded $770M in Q4, increasing more than 60% quarter over quarter, and exceeded $1.7B for FY2026. Management cited increasing contribution from non-seat-based solutions and continued Z-Flex momentum.

Key Operating Metrics¹

METRIC

STATUS

Zscaler↑ 24.9%

Z-Flex

🟢 Scaling

Key Financial Metrics

Gross Margin 77.00% +1 pp YoY
Backlog / Revenue 819.8% 8.19x Qtr Rev
CapEx Intensity 22.25% 0.22x Revenue

Sources: Zscaler Q4 FY2026 Earnings Release — Company Website, Zscaler Q4 FY2026 Shareholder Letter — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Palo Alto Networks (NASDAQ: PANW) — Q4 FY2026 Post Earnings

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Palo Alto Networks panw q4 26 Post Earnings

Operations

Q4 2026
Q4 Revenue ↑ 34.5% YoY $3.41B
Segments
Network & AI Security 68.4%
Cortex 17.2%
Idira 9.8%
Other 4.6%

Key Earnings Driver

Cortex Network & AI Security revenue increased 17% year over year to $2.3B. Cortex revenue increased 25% to $586M. Idira revenue increased 21% pro forma to $336M. Other revenue increased 5% to $157M. Network & AI Security represented 68% of revenue and was the largest reported platform. Management attributed the quarter’s strength to Network & AI Security, Cortex, and Idira.

Key Operating Metrics¹

METRIC

STATUS

Network & AI Security↑ 17.0%

Cortex↑ 25.0%

🟢 Scaling

Key Financial Metrics

Gross Margin 74.80% -1 pp YoY
Backlog / Revenue 621.7% 6.21x Qtr Rev
CapEx Intensity 3.02% 0.03x Revenue

Sources: Palo Alto Networks Q4 FY2026 Earnings Release — Company Website, Palo Alto Networks Q4 FY2026 Earnings Presentation — Company Website, Palo Alto Networks Q4 FY2026 Supplemental Financial Information

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Elastic (NYSE: ESTC) — Q1 FY2027 Post Earnings

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Post earnings note company quarterly analysis

Operations

Q1 2027
Q1 Revenue ↑ 15.1% YoY $478.1M
Segments
Elastic Cloud 49.2%
Other Subscription 44.7%
Services 6.1%

Key Earnings Driver

Elastic Cloud Elastic Cloud revenue increased 20.1% year over year to $235.2 million, Other Subscription Revenue increased 10.7% and Services revenue increased 10%. Elastic Cloud was the company’s fastest-growing reported revenue category.

Key Operating Metrics¹

METRIC

STATUS

Elastic Cloud↑ 20.1%

🟢 Scaling

Other Subscription↑ 10.7%

Key Financial Metrics

Gross Margin 74.50% -2.2 pp YoY
Backlog / Revenue 387.8% 3.87x Qtr Rev
CapEx Intensity 0.12% 0.00x Revenue

Sources: Elastic Q1 FY2027 Earnings Release — Company Website, Elastic Q1 FY2027 Investor Presentation — Company Website, Elastic Q1 FY2026 Earnings Release — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Cisco (NASDAQ: CSCO) — Q4 FY2026 Post Earnings

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Post earnings note company quarterly analysis

Operations

Q4 2026
Q4 Revenue ↑ 17.6% YoY $17.25B
Segments
Networking 56.7%
Security 12.9%
Collaboration 6.8%
Observability 1.6%
Services 22.0%

Key Earnings Driver

AI Infrastructure Networking revenue increased 28.3% year over year to $9.8B. Within Networking, AI infrastructure revenue reached approximately $4B for FY2026, up approximately 300% from $1B, and AI infrastructure orders reached $9.3B. Security revenue increased 14% to $2.23B, Collaboration revenue increased 12% to $1.17B, Observability revenue increased 6.2% to $275M, while Services revenue increased 0.2% to $3.79B.

Key Operating Metrics¹

METRIC

STATUS

Networking↑ 28.3%

AI Infrastructure

🟢 Scaling

Security↑ 14.0%

Services↑ 0.2%

Sources: Cisco Q4 FY2026 and FY2026 Earnings — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Cisco (NASDAQ: CSCO) — Q4 FY2026 Pre Earnings

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Pre earnings note company quarterly analysis

Operations

Q3 2026
Q3 Revenue ↑ 12.0% YoY $15.84B
Segments
Networking 55.6%
Security 12.7%
Collaboration 6.5%
Observability 1.7%
Services 23.5%

Key Earnings Driver

AI Infrastructure Networking revenue increased 24.7% year over year to $8.8B. Within Networking, Cisco reported $5.3B in AI infrastructure orders year to date through Q3 FY2026, with the company expecting FY2026 AI infrastructure orders to reach $9B and AI infrastructure revenue to reach $4B. Security revenue declined 0.2% to $2.0B, Collaboration revenue decreased 0.7% to $1.0B, Observability revenue increased 3.1% to $269M, while Services revenue declined 1.4% to $3.7B.

Key Operating Metrics¹

METRIC

STATUS

Networking↑ 24.7%

AI Infrastructure

🟢 Scaling

Security↓ 0.2%

🟡 Watch

Services↓ 1.4%

🟡 Watch

Sources: Cisco Q3 FY2026 Earnings Release — Company Website, Cisco Q3 FY2026 Revenue Disaggregation — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.