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Cisco Systems, Inc. (CSCO) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, July 29, 2023

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Cisco Systems, Inc.

HISTORY TOOLS
CIK: 858877 Ticker: CSCO

Exhibit 99.1

 

LOGO

 

Press Contact:    Investor Relations Contact:
Robyn Blum    Marilyn Mora
Cisco
    Cisco
1 (408) 930-8548    1 (408) 527-7452
rojenkin@cisco.com    marilmor@cisco.com

CISCO REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 EARNINGS

News Summary:

 

  •  

Cisco ended fiscal 2023 with Q4 revenue at $15.2 billion, up 16% year over year; GAAP EPS $0.97, up 43% year over year, and Non-GAAP EPS $1.14, up 37% year over year

 

  •  

Q4 FY 2023 operating cash flow of $6.0 billion, up 62% year over year

 

  •  

Progress on business model transformation in Q4 FY 2023:

 

  •  

Total software revenue up 17% year over year and software subscription revenue up 20% year over year

 

  •  

Total annualized recurring revenue (ARR) at $24.3 billion, up 5% year over year and product ARR up 10% year over year

 

  •  

Remaining performance obligations (RPO) at $34.9 billion, up 11% year over year and product RPO up 12% year over year

 

•  

Q4 FY 2023 Results:

 

  •  

Revenue: $15.2 billion

 

  •  

Increase of 16% year over year

 

  •  

Earnings per Share: GAAP: $0.97; Non-GAAP: $1.14

 

  •  

GAAP EPS increased 43% year over year

 

  •  

Non-GAAP EPS increased 37% year over year

 

•  

FY 2023 Results:

 

  •  

Revenue: $57.0 billion

 

  •  

Increase of 11% year over year

 

  •  

Earnings per Share: GAAP: $3.07; Non-GAAP: $3.89

 

  •  

GAAP EPS increased 9% year over year

 

  •  

Non-GAAP EPS increased 16% year over year

 

•  

Q1 FY 2024 Guidance:

 

  •  

Revenue: $14.5 billion to $14.7 billion

 

  •  

Earnings per Share: GAAP: $0.79 to $0.84; Non-GAAP: $1.02 to $1.04

 

•  

FY 2024 Guidance:

 

  •  

Revenue: $57.0 billion to $58.2 billion

 

  •  

Earnings per Share: GAAP: $3.19 to $3.32; Non-GAAP: $4.01 to $4.08

 

1

The following information was filed by Cisco Systems, Inc. (CSCO) on Wednesday, August 16, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Cisco Systems, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

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Inside Cisco Systems, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Acquisitions And Divestitures
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Additional Information (Details)
Acquisitions And Divestitures - Summary Of Allocation Of Total Purchase Consideration (Details)
Balance Sheet And Other Details
Balance Sheet And Other Details (Tables)
Balance Sheet And Other Details - Cash, Cash Equivalents, Restricted Cash And Restricted Cash Equivalents (Details)
Balance Sheet And Other Details - Deferred Revenue (Details)
Balance Sheet And Other Details - Inventories (Details)
Balance Sheet And Other Details - Property And Equipment, Net (Details)
Balance Sheet And Other Details - Remaining Performance Obligations (Details)
Balance Sheet And Other Details - Transition Tax Payable (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Borrowings
Borrowings (Tables)
Borrowings - Additional Information (Details)
Borrowings - Schedule Of Future Principal Payments For Long-Term Debt (Details)
Borrowings - Schedule Of Long-Term Debt (Details)
Borrowings - Schedule Of Short-Term Debt (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Schedule Of Financing Guarantees Outstanding (Details)
Commitments And Contingencies - Schedule Of Other Commitments (Details)
Commitments And Contingencies - Schedule Of Product Warranty Liability (Details)
Commitments And Contingencies - Schedule Of Purchase Commitments (Details)
Comprehensive Income (Loss)
Comprehensive Income (Loss) (Tables)
Comprehensive Income (Loss) - Aoci Components (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Additional Information (Details)
Derivative Instruments - Cumulative Basis Adjustments For Fair Value Hedges (Details)
Derivative Instruments - Derivatives Recorded At Fair Value (Details)
Derivative Instruments - Effect Of Derivative Instruments Designated As Fair Value Hedges (Details)
Derivative Instruments - Effect Of Derivative Instruments Not Designated As Hedges On Consolidated Statement Of Operations (Details)
Derivative Instruments - Schedule Of Notional Amounts Of Derivatives Outstanding (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information - Employee 401(K) Plans And Deferred Compensation Plans (Details)
Employee Benefit Plans - Additional Information - Summary Of Share-Based Compensation Expense (Details)
Employee Benefit Plans - Employee Stock Incentive Plans (Details)
Employee Benefit Plans - Employee Stock Purchase Plan (Details)
Employee Benefit Plans - Summary Of Restricted Stock And Stock Unit Awards (Details)
Employee Benefit Plans - Summary Of Share-Based Compensation Expense (Details)
Employee Benefit Plans - Valuation Of Employee Share-Based Awards - Employee Stock Purchase Rights (Details)
Employee Benefit Plans - Valuation Of Employee Share-Based Awards - Time-Based Restricted Stock Units (Details)
Fair Value
Fair Value (Tables)
Fair Value - Additional Information (Details)
Fair Value - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Financing Receivables
Financing Receivables (Tables)
Financing Receivables - Additional Information (Details)
Financing Receivables - Schedule Of Aging Analysis Of Financing Receivables (Details)
Financing Receivables - Schedule Of Financing Receivables (Details)
Financing Receivables - Schedule Of Financing Receivables Categorized By Internal Credit Risk Rating (Details)
Financing Receivables - Summary Of Allowances For Credit Loss And Related Financing Receivables (Details)
Goodwill And Purchased Intangible Assets
Goodwill And Purchased Intangible Assets (Tables)
Goodwill And Purchased Intangible Assets - Schedule Of Amortization Of Purchased Intangible Assets (Details)
Goodwill And Purchased Intangible Assets - Schedule Of Estimated Future Amortization Expense Of Purchased Intangible Assets (Details)
Goodwill And Purchased Intangible Assets - Schedule Of Goodwill By Reportable Segments (Details)
Goodwill And Purchased Intangible Assets - Schedule Of Intangible Assets Acquired Through Business Combinations (Details)
Goodwill And Purchased Intangible Assets - Schedule Of Purchased Intangible Assets With Finite And Indefinite Lives (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Aggregate Changes In Gross Unrecognized Tax Benefits (Details)
Income Taxes - Breakdown Between Current And Noncurrent Net Deferred Tax Assets (Details)
Income Taxes - Change In Valuation Allowance For Deferred Tax Assets (Details)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Difference Between Income Taxes At Federal Statutory Rate And Provision For Income Taxes (Details)
Income Taxes - Income Before Provision For Income Taxes (Details)
Income Taxes - Provision For Income Taxes (Details)
Insider Trading Arrangements
Investments
Investments (Tables)
Investments - Additional Information (Details)
Investments - Available-For-Sale Investments With Gross Unrealized Losses (Details)
Investments - Gross Realized Gains And Gross Realized Losses Related To Available-For-Sale Investment (Details)
Investments - Maturities Of Fixed Income Securities (Details)
Investments - Summary Of Available-For-Sale Investments (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Lease Expense (Details)
Leases - Lessee Arrangements, Maturities Of Operating Leases (Details)
Leases - Lessor Arrangements, Future Minimum Lease Receivables (Details)
Leases - Lessor Arrangements, Minimum Future Rentals On Operating Leases (Details)
Leases - Operating Lease Assets (Details)
Leases - Operating Lease Balances (Details)
Leases - Supplemental Information (Details)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Calculation Of Basic And Diluted Net Income Per Share (Details)
Pay Vs Performance Disclosure
Restructuring And Other Charges
Restructuring And Other Charges (Tables)
Restructuring And Other Charges - Additional Information (Details)
Restructuring And Other Charges - Schedule Of Activities Related To Restructuring And Other Charges (Details)
Revenue
Revenue (Tables)
Revenue - Additional Information (Details)
Revenue - Allowance For Accounts Receivable (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Schedule Of Internal Risk Ratings For Contract Assets (Details)
Segment Information And Major Customers
Segment Information And Major Customers (Tables)
Segment Information And Major Customers - Additional Information (Details)
Segment Information And Major Customers - Long-Lived Assets By Geographic Areas (Details)
Segment Information And Major Customers - Summary Of Net Revenue For Groups Of Similar Products And Services (Details)
Segment Information And Major Customers - Summary Of Reportable Segments (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Additional Information (Details)
Stockholders' Equity - Stock Repurchase Program (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Details)
Summary Of Significant Accounting Policies - Depreciation Period By Asset Category (Details)
Ticker: CSCO
CIK: 858877
Form Type: 10-K Annual Report
Accession Number: 0000858877-23-000023
Submitted to the SEC: Thu Sep 07 2023 4:30:09 PM EST
Accepted by the SEC: Thu Sep 07 2023
Period: Saturday, July 29, 2023
Industry: Computer Communications Equipment

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