SAN JOSE, Calif., Oct. 20, 2021 /PRNewswire/ -- As discussed
at our Investor Day on September 15,
2021, Cisco will report its product and service revenue in
the following categories effective Q1 FY 2022:
- Secure, Agile Networks
- Hybrid Work
- End-to-End Security
- Internet for the Future
- Optimized Application Experiences
- Other Products
- Services
This change will better align our product categories with our
strategic priorities. It will only impact how we report revenue by
product category. Our reportable segments will continue to be based
on our geographies which consist of the Americas, EMEA, and APJC.
These revised product categories will be used in our Q1 FY 2022
conference call scheduled for Wednesday,
November 17, 2021.
In addition, on Investor Day, we presented Annual Recurring
Revenue ("ARR") on a gross basis. Effective Q1 FY 2022, ARR will be
presented net of rebates to customers and partners as well as
certain other revenue adjustments. ARR represents the annualized
revenue run-rate of active subscriptions, term licenses, and
maintenance contracts at the end of a reporting period, net of
rebates to customers and partners as well as certain other revenue
adjustments. This includes both revenue recognized ratably as well
as upfront on an annualized basis.
The reclassified and previously reported product category
revenue by quarter for fiscal 2019 through fiscal 2021, updated and
previously reported ARR for fiscal 2019 through fiscal 2021, as
well as other information is available on Cisco's Investor
Relations website at
https://investor.cisco.com/investor-relations/financial-information/Financial-Results/default.aspx
About Cisco
Cisco (Nasdaq: CSCO) is the worldwide leader in
technology that powers the Internet. Cisco inspires new
possibilities by reimagining your applications, securing your data,
transforming your infrastructure, and empowering your
teams for a global and inclusive future. Discover more at
newsroom.cisco.com and follow us on Twitter at @Cisco.
Copyright © 2021 Cisco and/or its
affiliates. All rights reserved. Cisco and the Cisco logo are
trademarks or registered trademarks of Cisco and/or its affiliates
in the U.S. and other countries. To view a list of Cisco
trademarks, go to: www.cisco.com/go/trademarks. Third-party
trademarks mentioned in this document are the property of their
respective owners. The use of the word partner does not imply a
partnership relationship between Cisco and any other company. This
document is Cisco Public Information.
Press
Contact:
|
Investor Relations
Contact:
|
Robyn Blum
|
Marilyn
Mora
|
Cisco
|
Cisco
|
1 (408)
930-8548
|
1 (408)
527-7452
|
rojenkin@cisco.com
|
marilmor@cisco.com
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/change-in-product-categories-and-arr-update-301405139.html
SOURCE Cisco Systems, Inc.