Adobe Inc.

Today, and welcome to the Q3 FY22 Adobe Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Jonathan Voss, VP of Investor Relations. Please go ahead, sir.

Good morning, and thank you for joining us. With me on the call today are Shantanu Narayan, Adobe's Chairman and CEO, David Woodwani, President of Digital Media, Anil Chakravarty, President of Digital Experience, and Dan Dern, Executive Vice President and CFO. On this call, which is being recorded, we will discuss Adobe's third quarter fiscal year 2022 financial results. You can find our Q3 press release as well as PDFs of our prepared remarks and financial results on Adobe's Investor Relations website. The information discussed on this call, including our financial targets and product plans, is as of today, September 15th, and contains forward-looking statements that involve risk, uncertainty, and assumptions. Actual results may differ materially from those set forth in these statements. For a discussion of these risks, you should review the factors discussed in today's press release and in Adobe's SEC filings. On this call, we will discuss GAAP and non-GAAP financial measures. Our reported results include GAAP growth rates as well as adjusted growth rates in constant currency. During this presentation, Adobe's executives will refer to constant currency growth rates unless otherwise stated. Reconciliations between the two are available in our earnings release and on Adobe's Investor Relations website. I will now turn the call over to Shantanu. Thanks, Jonathan, and thank you for joining us.

Adobe had another record quarter, achieving $4.43 billion in revenue, which represents 15% year-over-year growth. Gap earnings per share for the quarter was $2.42, and non-gap earnings per share was $3.40. In our digital media business, we achieved $3.23 billion in revenue. Net new digital media annualized recurring revenue, or ARR, was $449 million, and total digital media ARR exiting Q3 grew to $13.40 billion. In our experience cloud business, we achieved $1.12 billion in revenue, and subscription revenue was $981 million. In this digital-first world, Adobe Creative Cloud, Document Cloud, and Experience Cloud have become even more mission-critical to an increasingly wide range of customers, from students to creative professionals to small businesses to the world's largest enterprises. Fueled by our groundbreaking technology, track record of creating and leading categories, and consistently strong execution, our opportunity is larger than ever before. Adobe's greatness has been rooted in defining new categories and platforms and delivering cutting-edge solutions through both organic innovation and inorganic acquisitions. Throughout our history, Adobe's innovations have touched billions of lives around the globe. From revolutionizing imaging and creative expression with Photoshop to pioneering electronic documents through PDF to creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories. We are in the golden age of design, and we believe we have a unique opportunity to usher in a new era of collaborative, creative computing. I'm thrilled to share that today we announced our intention to acquire Figma, a leading web-first design platform that will help us accelerate this vision. Figma enables designers, developers, and all stakeholders to collaborate in the product design process from ideation to design to delivery. The combination of Adobe and Figma will significantly expand our reach and market opportunity while making the creative process more accessible and productive to more people. I will now turn it over to David to share more about our vision for Adobe and Figma and momentum in the digital media business. David?