Cisco (CSCO) Q1 2026 10-Q Quarterly Report
Cisco (CSCO) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Feb 17, 2026 for the fiscal period ending Jan 24, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Cisco Q1 2026 10-Q Analysis
Management Discussion & Analysis
- • Revenue $15.3B, up 10% YoY; product revenue up 14%, services down 1% in Q2 FY26 vs Q2 FY25
- • Operating margin 24.6% vs 22.3% YoY; gross margin stable at 65.0% vs 65.1% YoY
- • Best segment: Networking up 21% to $8.3B; worst: Security down 4% to $2.0B in Q2 FY26
- • Cash and equivalents $15.8B, down $0.3B compared to July 2025; operating cash flow $5.0B for 6 months ending Q2
- • Management anticipates continued AI infrastructure momentum, supply chain risks, and stable subscription trends; expects ongoing investments and competition pressures
Risk Factors
- • Supply chain risk materially updated: memory component constraints and increased purchase commitments in fiscal 2025 and H1 fiscal 2026 impacting gross margins
- • AI-related legal and regulatory risk newly emphasized due to evolving laws (e.g., EU legislation) and ongoing AI product development costs and uncertainties
- • Legal risk: $24.8B senior unsecured notes maturing 2026-2064, with $5.5B commercial paper outstanding as of Jan 2026 raise debt maintenance concerns
- • Market risk: volatility in service provider/cloud orders, with large, sporadic purchases impacting near-term revenue and longer implementation cycles
- • Financial risk: exposure to foreign currency fluctuations and credit risks amid challenging global conditions could materially harm financial results
Cisco Q1 2026 Quarterly FinancialsXBRL
Revenue
$15.3B
▲ +9.7% YoY▲ +3.1% QoQ
Net Income
$3.2B
▲ +30.8% YoY▲ +11.0% QoQ
Gross Margin
65.0%
▼ -15bp YoY▼ -51bp QoQ
Operating Margin
24.6%
▲ +238bp YoY▲ +204bp QoQ
Net Margin
20.7%
▲ +333bp YoY▲ +147bp QoQ
ROE
6.7%
▲ +55bp QoQ
Total Assets
$123.4B
▲ +1.9% QoQ
EPS (Diluted)
$0.79
▲ +31.7% YoY▲ +9.7% QoQ
Operating Cash Flow
$1.8B
▼ -18.7% YoY▼ -43.3% QoQ
Source: XBRL data from Cisco Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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