Akamai Technologies (AKAM) Q4 FY2025 earnings: revenue $1.1 billion, up 7.4% on the year

Akamai Technologies Inc. (AKAM) reported revenue of $1.1 billion for Q4 FY2025, the quarter ended 31 December 2025, up 7.4% on the same quarter a year earlier. Net income was $85 million, down 39.2% on the year, and diluted earnings per share $0.58. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2026.

Revenue

$1.1 billion

+7.4% on the year · +3.8% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

8.7%

14.5% a year earlier

Q1 FY2024Q4 FY2025

Net income

$85 million

-39.2% on the year · -39.3% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$0.58

-36.3% on the year · -40.2% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 12 new.

Q4 revenue rose 7% to $1.095B: Q4 revenue was $1.095 billion, up 7% year-over-year and 6% excluding foreign exchange, after 5% reported growth in Q3 2025.
GAAP operating income fell 36%: GAAP operating margin was 9%, down from 16% in Q3 2025, after the restructuring charge. Non-GAAP results exclude that charge.
Non-GAAP EPS up 11% to $1.84: Non-GAAP EPS was $1.84, compared with $1.86 in Q3 2025. Full-year non-GAAP EPS was $7.12, up 10% year-over-year.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	1,095	1,055	1,020	+3.8%	+7.4%
Cost of revenue	453	430	414	+5.3%	+9.2%
Gross profit	642	625	606	+2.8%	+6.1%
Gross margin	58.7%	59.3%	59.4%
Research and development	139	125	120	+11.8%	+16.0%
Operating income	94.9	166	148	-42.9%	-35.9%
Operating margin	8.7%	15.7%	14.5%
Interest expense	7.9	7.9	6.7	-0.3%	+17.2%
Pre-tax income	104	173	158	-40.0%	-34.3%
Income tax	18.8	33.0	18.2	-42.9%	+3.5%
Effective tax rate	18.1%	19.1%	11.5%
Net income	85.1	140	140	-39.3%	-39.2%
Net margin	7.8%	13.3%	13.7%
Diluted EPS	$0.58	$0.97	$0.91	-40.2%	-36.3%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	367	442	344	-17.0%	+6.6%
Capital expenditure	132	113	92.9	+16.8%	+41.8%
Free cash flow	235	329	251	-28.6%	-6.4%
Free cash flow margin	21.5%	31.2%	24.6%
Cash from investing	-366	-368	-244
Cash from financing	-1.7	7.1	-141
Depreciation and amortisation	183	177	168	+3.3%	+8.7%
Share-based compensation	119	115	99.0	+3.3%	+20.4%
Buybacks	0.0	0.0	138
Diluted shares, weighted	147m	145m	153m	+1.5%	-4.0%
Shares outstanding at period end	145m	144m	150m	+0.7%	-3.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	4,977	4,732	4,878	+5.2%	+2.0%
Debt	4,105	4,103	3,546	+0.1%	+15.8%
Operating lease liabilities	1,233	847	830	+45.7%	+48.7%
Other liabilities	1,163	1,152	1,115	+1.0%	+4.4%
Total liabilities and equity	11,480	10,833	10,369	+6.0%	+10.7%
Fixed assets	2,333	n/a	1,995		+17.0%
Goodwill	3,207	3,170	3,151	+1.1%	+1.8%
Intangible assets	615	647	728	-5.1%	-15.5%
Investments	990	885	1,354	+11.8%	-26.9%
Cash and equivalents	930	928	518	+0.2%	+79.7%
Receivables	794	766	728	+3.6%	+9.1%
Other assets	2,612	4,437	1,895	-41.1%	+37.8%
Total assets	11,480	10,833	10,369	+6.0%	+10.7%

Questions

What was Akamai Technologies' revenue in Q4 FY2025?

Akamai Technologies (AKAM) reported revenue of $1.1 billion for Q4 FY2025, the quarter ended 31 December 2025, up 7.4% on the same quarter a year earlier.

How much did Akamai Technologies earn in Q4 FY2025?

Net income for Q4 FY2025 was $85 million, down 39.2% on the year, and diluted earnings per share $0.58.

When did Akamai Technologies report Q4 FY2025 results?

Akamai Technologies filed its 10-K for the year that ended with the quarter on 20 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022 †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	905	904	903	882	928	916	936	965	995	987	980	1,005	1,020	1,015	1,043	1,055	1,095	1,074	1,100	1,122
Cost of revenue	325	333	347	346	358	361	373	383	393	395	403	409	414	419	427	430	453	471	486	505
Gross profit	580	571	557	535	570	554	562	582	602	592	577	596	606	596	617	625	642	602	614	617
Gross margin	64%	63%	62%	61%	61%	61%	60%	60%	60%	60%	59%	59%	59%	59%	59%	59%	59%	56%	56%	55%
R&D	93.2	99.9	92.1	94.0	105	91.9	99.0	106	109	117	113	120	120	124	126	125	139	142	149	141
Operating income	196	173	175	160	167	127	150	176	185	167	148	70.6	148	155	151	166	94.9	114	80.3	109
Operating margin	22%	19%	19%	18%	18%	14%	16%	18%	19%	17%	15%	7%	15%	15%	15%	16%	9%	11%	7%	10%
Interest expense	18.3	2.7	2.9	2.8	2.7	2.7	3.2	5.0	6.9	6.8	6.8	6.7	6.7	6.8	8.2	7.9	7.9	8.3	9.1	10.6
Pre-tax income	181	161	171	158	168	127	150	179	196	188	167	73.8	158	173	152	173	104	122	100	138
Tax rate	11%	12%	19%	22%	24%	23%	14%	11%	18%	7%	21%	22%	12%	29%	32%	19%	18%	13%	21%	15%
Net income	161	133	138	124	129	97.1	129	161	161	175	132	57.9	140	123	104	140	85.1	106	79.4	117
Net margin	18%	15%	15%	14%	14%	11%	14%	17%	16%	18%	13%	6%	14%	12%	10%	13%	8%	10%	7%	10%
Diluted EPS	$0.97	$0.82	$0.85	$0.78	$0.82	$0.62	$0.84	$1.04	$1.03	$1.11	$0.86	$0.38	$0.91	$0.82	$0.71	$0.97	$0.58	$0.71	$0.52	$0.77
Operating cash flow	387	222	341	369	341	233	366	359	389	352	431	393	344	251	459	442	367	313	326	433
Capital expenditure	63.8	51.0	74.2	50.8	65.2	142	112	134	70.4	93.8	91.0	113	92.9	118	146	113	132	102	145	515
Free cash flow	323	171	267	318	276	91.8	254	226	319	258	340	280	251	133	314	329	235	211	181	-81.9
Buybacks	271	103	165	163	178	349	137	113	54.9	125	128	166	138	500	300	0.0	0.0	206	410	0.0
Shares outstanding	161m	161m	159m	158m	156m	153m	152m	151m	151m	152m	152m	151m	150m	146m	143m	144m	145m	146m	144m	144m
Filing	10-K	10-K	10-K	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 20 February 2026: the filing.