What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to officially report Cisco Systems, Inc.'s financial results for its fiscal first quarter of 2025, which concluded on October 26, 2024. It also includes a press release that contains further details about these results.

Why does Cisco emphasize non-GAAP financial measures in this report?

Cisco uses non-GAAP financial measures to provide investors with a clearer view of its ongoing operational performance and financial trends. By excluding certain non-recurring or non-cash items like share-based compensation, acquisition-related costs, and significant one-time charges, the company aims to present results that are more reflective of its core business operations.

Are the non-GAAP results presented here the only financial information I should consider?

No, Cisco explicitly states that its non-GAAP measures are not a substitute for Generally Accepted Accounting Principles (GAAP) measures. Investors should consider these non-GAAP results in conjunction with the corresponding GAAP measures to gain a comprehensive understanding of Cisco's financial condition and operational results.

CSCO 8-K: Earnings & Results

Q: What types of costs does Cisco typically exclude when presenting its non-GAAP results?

Cisco typically excludes costs such as share-based compensation expense, amortization of acquisition-related intangible assets, acquisition-related and divestiture costs, significant asset impairments and restructuring charges, litigation settlements and other contingencies, Russia-Ukraine war costs, and gains or losses on investments. They also exclude the income tax effects of these items.

Summary

Cisco Systems, Inc. (CSCO) filed an 8-K on November 13, 2024, to report its financial results for the fiscal first quarter of 2025, which ended on October 26, 2024. The filing includes a press release detailing the company's operational performance. A key aspect of this report is its emphasis on non-GAAP financial measures, which Cisco utilizes to provide investors with a view of financial and business trends that exclude certain items such as share-based compensation, amortization of acquisition-related intangibles, acquisition/divestiture costs, significant asset impairments and restructurings, litigation settlements, Russia-Ukraine war costs, and gains/losses on investments. The company states that these non-GAAP measures are presented in conjunction with GAAP measures to offer a more comprehensive understanding of its historical and projected results.

Key Highlights

1Cisco reported its fiscal Q1 2025 results on November 13, 2024.
2The 8-K filing includes a press release as Exhibit 99.1 detailing operational and financial performance.
3The report prominently features non-GAAP financial metrics, which exclude specific items to provide insight into ongoing operational trends.
4Excluded items in non-GAAP calculations include share-based compensation, amortization of acquisition intangibles, acquisition/divestiture costs, and significant one-time charges.
5Cisco explicitly states that non-GAAP measures are not a substitute for GAAP and should be considered alongside GAAP results.
6The company believes its non-GAAP presentation offers useful information to investors and management regarding financial and business trends.
7Future projections for gross margin, operating margin, tax rate, and EPS are expected to be provided on a non-GAAP basis.

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Nov 13, 2024)

Summary

Key Highlights

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