8-KEarnings & ResultsExhibits & Filings

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

Filed November 13, 2024For Securities:CSCO

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.

Frequently Asked Questions

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.

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.

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.

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.