Short answer
Akamai Technologies (AKAM) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $4.2B (+5.4% year over year) and net income of $452M.
- Top risk flagged: Regulatory risk: U.S. government export controls and tariffs on advanced computing and networking technologies impacting trade and supply chains
FY2025 key financial metrics · XBRL
- Revenue
- $4.2B
- +5.4% YoY
- Net income
- $452M
- −10.5% YoY
- Operating margin
- 13.5%
- +0.1 pp YoY
- EPS (diluted)
- $3.07
- −6.1% YoY
- ROE
- 9.1%
- −1.3 pp YoY
- Operating cash flow
- $1.5B
- −0.0% YoY
Source: XBRL data from the Akamai Technologies (AKAM) FY2025 10-K on SEC EDGAR. USD.
Akamai Technologies FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global provider of security, cloud computing, and content delivery solutions leveraging a vast, distributed edge network
- New launches: Firewall for AI launched in 2025 to protect AI applications; Akamai App Platform introduced in Nov 2024 for Kubernetes app deployment; Akamai Inference Cloud for edge AI inference; acquisitions of Fermyon (serverless WebAssembly) and Noname Security to enhance cloud and API security
- Strategic shift: Accelerated focus on AI-driven security and edge-native cloud computing platforms, integrating AI and serverless technologies to compete with hyperscalers
- Quantitative highlight: Over 11,000 employees in 30+ countries with 65% outside the U.S.; expanded to 4,300+ edge points-of-presence in 130 countries; increased compute platform data centers and NVIDIA GPU integration in 2025
- Noteworthy fact: Significant portfolio expansion addressing AI-specific cybersecurity threats, including adversarial inputs and unauthorized queries in AI apps, a first for the company
Management Discussion & Analysis
- Revenue $4.21B in 2025, up 5% YoY from $3.99B in 2024; driven by security ($2.24B, +10%), cloud computing ($708M, +12%), offset by delivery decline ($1.26B, -5%)
- Operating margin 13% in 2025 vs 13% in 2024, net income margin 11% in 2025 vs 13% in 2024; costs stable at 87% of revenue both years
- Best segment: Security revenue $2.24B (+10% YoY); Worst segment: Delivery revenue $1.26B (-5% YoY) due to price declines and macro pressures
- Cost of revenue $1.73B (+7% YoY) mainly from increased co-location ($349M, +13%), depreciation ($328M, +16%) and payroll ($341M, +2%); R&D $514M (+9%), Sales & Marketing $574M (+3%), G&A $657M (+6%)
- Management expects 2026 cost increases in co-location, bandwidth, depreciation, R&D, and sales/marketing; plans continued investment in security and cloud computing with disciplined cost management
Risk Factors
- Regulatory risk: U.S. government export controls and tariffs on advanced computing and networking technologies impacting trade and supply chains
- Geopolitical risk: 6% of employees in Israel exposed to Israel-Hamas war disruptions affecting workforce availability
- Operational risk: Supply chain uncertainty for server hardware critical to cloud platform expansion and AI workload adaptation
- Competitive risk: Large cloud providers with priority access to servers and co-location resources constraining Akamai’s capacity and pricing power
- Financial risk: Capital-intensive cloud computing investments with uncertain return impacting margins and profitability
Generated from the filing text; verify against the original. How to read a 10-K
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