Financial Analysis

"Business Combinations Nuclia Acquisition On June 30, 2025, we completed the acquisition of Nuclia, an innovator in agentic Retrieval-Augmented Generation AI solutions, for a purchase price with an aggregate fair value of $21.4 million, which was primarily allocated to purchased technology and goodwill. The purchase consideration consisted of $20.3 million of cash paid at closing and contingent consideration with an estimated fair value of $1.1 million. We are required to pay contingent earn-out consideration of up to $5.0 million to former Nuclia shareholders, based on the achievement of certain revenue targets during fiscal year 2026. The fair value of the contingent consideration was determined to be $1.1 million as of the acquisition date. We have not disclosed the amount of revenues and earnings of Nuclia since acquisition, nor pro forma financial information, as those amounts are not significant to our consolidated financial statements. ShareFile Acquisition On October 31, 2024, we completed the acquisition of ShareFile from Cloud Software Group, Inc. and its subsidiaries for an aggregate purchase price of $875.0 million in cash, subject to a $25.0 million working capital credit and certain customary adjustments, including $1.2 million paid in fiscal 2025. We funded the acquisition through $730.0 million in borrowings under our existing revolving credit facility and cash on hand. The acquisition consideration for ShareFile has been allocated to ShareFile's assets and as …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies Guarantees and Indemnification Obligations We include standard intellectual property indemnification provisions in our licensing agreements in the ordinary course of business. Pursuant to our product license agreements, we will indemnify, hold harmless, and agree to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally business partners or customers, in connection with certain patent, copyright, or other intellectual property infringement claims by third parties with respect to our products. Other agreements with our customers provide indemnification for claims relating to property damage or personal injury resulting from the performance of services by us or our subcontractors. Historically, our costs to defend lawsuits or settle claims relating to such indemnity agreements have been insignificant. Accordingly, the estimated fair value of these indemnification provisions is insignificant. Purchase Obligations In connection with our acquisition of ShareFile, we assumed an existing agreement for cloud-based hosting services through May 2029 with a third-party provider in the ordinary course of business. The agreement requires a purchase obligation of $130.0 million throughout the term of the agreement. As of November 30, 2025, we had $76.5 million of remaining obligations under this agreement. For the twelve months ended November 30, 2025 and 2024, the total expense related to this purchase obligation w …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Debt As of November 30, 2025 and 2024, we had the following debt obligations: (in thousands) November 30, 2025 November 30, 2024 Current portion of long-term debt: 1.0% convertible senior notes due 2026 $ 360,000 $ Unamortized discount and issuance costs for the Notes (837) Total current portion of long-term debt 359,163 Long-term debt: 1.0% convertible senior notes due 2026 360,000 3.5% convertible senior notes due 2030 450,000 450,000 Revolving credit facility (1) 600,000 730,000 Total face value of long-term debt 1,050,000 1,540,000 Unamortized discount and issuance costs for the Notes (8,814) (13,733) Total long-term debt 1,041,186 1,526,267 Total debt $ 1,400,349 $ 1,526,267 (1) Unamortized debt issuance costs related to the revolving credit facility of $10.4 million and $6.0 million are included in other assets on the consolidated balance sheets as of November 30, 2025 and 2024, respectively. Notes Payable In March 2024, we issued, in a private placement, convertible senior notes with an aggregate principal amount of $450 million, due March 1, 2030, unless earlier repurchased, redeemed, or converted. In April 2021, we issued, in a private placement, convertible senior notes with an aggregate principal amount of $360.0 million, due April 15, 2026, unless earlier repurchased, redeemed, or converted. There are no required principal payments prior to the maturity of the Notes. During the fiscal year ending November 30, 2025, we reclassified the 2026 Notes from long-term de …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Stock-Based Compensation We currently have one stockholder-approved stock plan from which we can issue stock-based awards, which was approved by our stockholders in fiscal year 2008 and most recently amended and approved by stockholders in May 2024 (the ""2008 Plan""). The 2008 Plan permits the granting of stock awards to officers, members of the Board of Directors, employees, and consultants. Awards under the 2008 Plan may include nonqualified stock options, incentive stock options, grants of conditioned or restricted stock, unrestricted grants of stock, grants of stock contingent upon the attainment of performance goals, deferred stock units, and stock appreciation rights. A total of 4,476,791 shares were available for issuance as of November 30, 2025. We previously adopted two stock plans for which the approval of stockholders was not required: the 2002 Nonqualified Stock Plan (the ""2002 Plan"") and the 2004 Inducement Stock Plan (the ""2004 Plan""). The 2002 Plan permits the granting of stock awards to non-executive officer employees and consultants. Executive officers and members of the Board of Directors are not eligible for awards under the 2002 Plan. Awards under the 2002 Plan may include nonqualified stock options, grants of conditioned or restricted stock, unrestricted grants of stock, grants of stock contingent upon the attainment of performance goals, and stock appreciation rights. A total of 109,013 shares were available for issuance under the 2002 Plan as of N …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2025: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 779 $ 779 $ $ Liabilities Foreign exchange derivatives $ (95) $ $ (95) $ Contingent consideration $ (1,080) $ $ $ (1,080) The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2024: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 1,823 $ 1,823 $ $ Liabilities Foreign exchange derivatives $ (624) $ $ (624) $ For financial assets and liabilities that utilize Level 1 and Level 2 inputs, we utilize both direct and indirect observable price quotes, including price quotes and foreign exchange forward prices. Money market funds are measured at fair value using the quoted market prices in active markets at the reporting date. Foreign exchange derivative contracts are valued using quoted forward foreign exchange prices at the reporting date. We classified contingent consideration related to the Nuclia acquisition, which occurred in the third fiscal quarter of 2025, within Level 3 of the fair value hierarchy because the fair value is derived using significant unobservable inputs. We …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Intangible Assets and Goodwill Intangible Assets Intangible assets are comprised of the following significant classes: November 30, 2025 November 30, 2024 (in thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 403,375 $ (251,491) $ 151,884 $ 399,000 $ (210,264) $ 188,736 Customer-related 777,930 (377,368) 400,562 777,608 (282,384) 495,224 Trademarks and trade names 77,111 (45,529) 31,582 77,111 (37,500) 39,611 Total $ 1,258,416 $ (674,388) $ 584,028 $ 1,253,719 $ (530,148) $ 723,571 We amortize intangible assets assuming no expected residual value. Amortization expense related to these intangible assets was $145.5 million, $94.5 million, and $96.6 million in fiscal years 2025, 2024, and 2023, respectively. Future amortization expense for intangible assets as of November 30, 2025 is as follows: (in thousands) 2026 $ 137,265 2027 112,166 2028 100,582 2029 100,582 2030 72,580 Thereafter 60,853 Total $ 584,028 Goodwill Changes in the carrying amount of goodwill for fiscal years 2025 and 2024 are as follows: (in thousands) November 30, 2025 November 30, 2024 Balance, beginning of year $ 1,292,177 $ 832,101 Additions from business combinations (1) 15,397 459,459 Measurement period adjustments (2) and other 1,480 700 Translation adjustments (83) Balance, end of year $ 1,309,054 $ 1,292,177 (1) The additions to goodwill during fiscal years 2025 and 2024 are related to the acquis …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes The components of income before income taxes are as follows: Fiscal Year Ended (in thousands) November 30, 2025 November 30, 2024 November 30, 2023 U.S. $ 59,873 $ 73,746 $ 70,659 Foreign 21,755 20,518 8,998 Total $ 81,628 $ 94,264 $ 79,657 The provision for income taxes is comprised of the following: Fiscal Year Ended (in thousands) November 30, 2025 November 30, 2024 November 30, 2023 Current: Federal $ 18,658 $ 23,768 $ 28,905 State 4,203 4,635 4,373 Foreign 9,063 5,173 4,823 Total current 31,924 33,576 38,101 Deferred Federal (20,079) (7,868) (22,763) State (1,758) (163) (1,592) Foreign (1,592) 281 (4,286) Total deferred (23,429) (7,750) (28,641) Total $ 8,495 $ 25,826 $ 9,460 A reconciliation of the income taxes incurred at the U.S. federal statutory rate compared to the effective tax rate is as follows: Fiscal Year Ended (in thousands) November 30, 2025 November 30, 2024 November 30, 2023 Tax at U.S. federal statutory rate $ 17,142 $ 19,795 $ 16,728 Foreign rate differences (158) (728) (644) Effects of foreign operations included in U.S. federal provision 703 1,158 447 State income taxes, net 1,649 1,480 1,814 Research credits (3,643) (2,513) (894) Nondeductible stock-based compensation 4,282 2,625 2,498 Meals and entertainment 186 155 162 Compensation subject to 162(m) 1,391 1,028 928 Uncertain tax positions and tax settlements (210) (108) (1,056) Net excess tax benefit from stock-based compensation plans (80) (1,419) (2,058) Global intangible low tax incl …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases The Company has operating leases for facilities, vehicles, and equipment under various non-cancelable lease agreements. The Company's leases have remaining lease terms ranging from 1 year to 12 years. The Company's lease terms may include options to extend or terminate the lease. The Company considers several economic factors when making the determination as to whether the Company will exercise options to extend or terminate the lease, including but not limited to, the significance of leasehold improvements incurred in the office space, the difficulty in replacing the asset, underlying contractual obligations, or specific characteristics unique to a particular lease. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Consideration in the contract is comprised of any fixed payments and variable payments that depend on an index or rate. Payments in the Company's operating lease arrangements primarily consist of base office rent. The Company makes variable payments on certain of its leases related to taxes, insurance, common area maintenance, and utilities, among other things. We sublease certain facilities to third parties, which have remaining lease terms of up to one year. The components of net operating lease cost for the years ended November 30, 2025, 2024, and 2023 were as follows: Fiscal Year Ended (in thousands) November 30, 2025 November 30, 2024 November 30, 2023 Lease costs under long-term ope …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (""ASU 2023-07""). ASU 2023-07 updates reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. ASU 2023-07 did not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. Under ASU 2023-07, public entities with a single reportable segment must apply all of ASU 2023-07's disclosure requirements and the existing segment disclosure and reconciliation requirements in ASC 280 Segment Reporting on an annual and interim basis. We implemented ASU 2023-07 with retrospective application in the 2025 annual financial statements and have included the additional disclosures in Note 16, Segment Information and Geographic Information . Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (""ASU 2023-09"") . ASU 2023-09 is intended to improve the transparency and decision usefulness of income tax disclosures, primarily related to the rate reconciliation and income ta …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Retirement Plan We maintain a retirement plan covering all U.S. employees under Section 401(k) of the Internal Revenue Code. Company contributions to the plan are at the discretion of the Board of Directors and totaled approximately $5.2 million, $4.0 million, and $3.8 million for fiscal years 2025, 2024, and 2023, respectively.

PensionAndOtherPostretirementBenefitsDisclosureTextBlock

Restructuring The following table provides a summary of activity for all of the restructuring actions, with material actions detailed further below: (in thousands) Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2022 $ 3,870 $ 30 $ 3,900 Costs incurred 1,117 7,290 8,407 Cash disbursements (1,690) (5,413) (7,103) Translation adjustments and other (17) (17) Balance, November 30, 2023 $ 3,297 $ 1,890 $ 5,187 Costs incurred 3,810 6,644 10,454 Cash disbursements (2,768) (2,833) (5,601) Translation adjustments and other (6) (6) Balance, November 30, 2024 $ 4,339 $ 5,695 $ 10,034 Costs incurred 2,871 10,238 13,109 Cash disbursements and other (4,625) (12,679) (17,304) Balance, November 30, 2025 $ 2,585 $ 3,254 $ 5,839 Cash disbursements for expenses incurred from restructuring actions are expected to be made through fiscal year 2027. Accordingly, the balance of the restructuring reserve is included in short-term and long-term operating lease liabilities, and other accrued current liabilities on the consolidated balance sheets at November 30, 2025. We expect to incur additional expenses as part of the 2025 action during fiscal year 2026, but we do not expect these costs to be significant. 2025 Restructurings During the fourth quarter of fiscal year 2025, we restructured our operations to optimize efficiency and sustainability, while ensuring alignment with the company's long-term financial objectives. In connection with this restru …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition Timing of Revenue Recognition Our revenues are derived from licensing our products, and from related services, which consist of maintenance, SaaS, and professional services. Information relating to revenue from external customers by revenue type is as follows: Fiscal Year Ended (in thousands) November 30, 2025 November 30, 2024 November 30, 2023 Performance obligations transferred at a point in time: Software licenses $ 237,887 $ 249,331 $ 220,789 Performance obligations transferred over time: Maintenance 410,174 410,556 401,501 SaaS 287,928 44,564 20,693 Professional services 41,842 48,958 51,456 Total revenue $ 977,831 $ 753,409 $ 694,439 Geographic Revenue In the following table, revenue attributed to the United States includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from Canada, EMEA, Latin America, and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows: Fiscal Year Ended (in thousands) November 30, 2025 November 30, 2024 November 30, 2023 United States $ 595,336 $ 421,890 $ 380,672 Canada 28,430 25,105 30,998 EMEA 280,908 245,287 222,862 Latin America 21,667 20,305 21,112 Asia Pacific 51,490 40,822 38,795 Total revenue $ 977,831 $ 753,409 $ 694,439 No single customer, partner, or country outside of the U.S. has accounted for mo …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Segment Information and Geographic Information Operating segments are components of an enterprise that engages in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (""CODM"") in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer. We operate as one operating and reportable segment that is managed on a consolidated basis and derives substantially all of its revenue from the sale and support of one group of similar products and services, comprised of software products for the development, deployment, and management of responsible, AI-powered applications and digital experiences. The accounting policies of the Company's operating segment are the same as those described in Note 1, Nature of Business and Summary of Significant Accounting Policies . Our CODM does not receive profitability information at a lower level than consolidated results, and evaluates net income on a consolidated basis to set financial performance targets, assess performance, and make resource allocation decisions, primarily through comparison of actual results to forecasted results, year-over-year analysis, and review of historical performance trends. The measure of segment assets is reported on the Company's consolidated balance sheets as total consolidated assets. The Company's significant expenses and other segment items are provided in the table below: Fiscal Year Ended (in …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Business Combinations Nuclia Acquisition On June 30, 2025, we completed the acquisition of Nuclia, an innovator in agentic Retrieval-Augmented Generation AI solutions, for a purchase price with an aggregate fair value of $21.4 million, which was primarily allocated to purchased technology and goodwill. The purchase consideration consisted of $20.3 million of cash paid at closing and contingent consideration with an estimated fair value of $1.1 million. We are required to pay contingent earn-out consideration of up to $5.0 million to former Nuclia shareholders, based on the achievement of certain revenue targets during fiscal year 2026. The fair value of the earn-out liability was determined to be $1.1 million as of the acquisition date. Refer to Note 2, Fair Value Measurements for information regarding changes in the fair value of the earn-out liability, which are recorded as acquisition-related expenses in our condensed consolidated statements of operations. We have not disclosed the amount of revenues and earnings of Nuclia since acquisition, nor pro forma financial information, as those amounts are not significant to our condensed consolidated financial statements.

BusinessCombinationDisclosureTextBlock

"Debt As of May 31, 2026 and November 30, 2025, we had the following debt obligations: (in thousands) May 31, 2026 November 30, 2025 Current portion of long-term debt: 1.0% convertible senior notes due 2026 $ $ 360,000 Unamortized discount and issuance costs for the 2026 Notes (837) Total current portion of long-term debt 359,163 Long-term debt: 3.5% convertible senior notes due 2030 450,000 450,000 Revolving credit facility (1) 850,000 600,000 Total face value of long-term debt 1,300,000 1,050,000 Unamortized discount and issuance costs for the 2030 Notes (7,853) (8,814) Total long-term debt 1,292,147 1,041,186 Total debt $ 1,292,147 $ 1,400,349 (1) Unamortized debt issuance costs related to the revolving credit facility of $9.3 million and $10.4 million are included in other assets on the condensed consolidated balance sheets as of May 31, 2026 and November 30, 2025, respectively. In April 2026, the Company paid $361.8 million to redeem the outstanding portion of the 2026 Notes, including the outstanding principal amount and accrued interest through the April 2026 maturity date. We funded the redemption through borrowings under our existing revolving credit facility and cash on hand. In April 2021, in connection with the pricing of the 2026 Notes, the Company entered into privately negotiated capped call transactions (the ""2021 Capped Call Transactions"") to reduce potential dilution to our common stock upon any conversion of the 2026 Notes and/or offset any potential cash …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Stock-Based Compensation Stock-based compensation expense reflects the fair value of stock-based awards measured at the grant date and recognized over the relevant service period. We estimate the fair value of each stock-based award on the measurement date using either the current market price of the stock, the Black-Scholes option valuation model, or the Monte Carlo Simulation valuation model. The Black-Scholes and Monte Carlo Simulation valuation models incorporate assumptions as to stock price volatility, the expected life of options or awards, a risk-free interest rate, and dividend yield. We recognize stock-based compensation expense related to options and restricted stock units on a straight-line basis over the service period of the award, which is generally four or five years for options and three or four years for restricted stock units, and adjust the expense each period for actual forfeitures. We recognize stock-based compensation expense related to performance stock units and our employee stock purchase plan using an accelerated attribution. In 2026, 2025, and 2024, we granted performance-based restricted stock units that include two performance metrics under our Long-Term Incentive Plan (""LTIP"") where the performance measurement period is three years. For the 2026, 2025, and 2024 plans, the vesting terms were based on the following: (i) 75% is based on achievement of a three-year cumulative operating income, and (ii) 25% is based on our level of attainment of s …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at May 31, 2026: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 778 $ 778 $ $ Liabilities Foreign exchange derivatives $ (3) $ $ (3) $ The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2025: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 779 $ 779 $ $ Liabilities Foreign exchange derivatives $ (95) $ $ (95) $ Contingent consideration $ (1,080) $ $ $ (1,080) When developing fair value estimates, we maximize the use of observable inputs and minimize the use of unobservable inputs. When available, we use quoted market prices to measure fair value. The valuation technique used to measure fair value for our Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. If market prices are not available, the fair value measurement is based on models that use primarily market-based parameters including yield curves, volatilities, credit ratings, and currency rates. In certain cases, where market rate assumptions are not available, we are r …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Intangible Assets and Goodwill Intangible Assets Intangible assets are comprised of the following significant classes: May 31, 2026 November 30, 2025 (in thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 403,375 $ (269,180) $ 134,195 $ 403,375 $ (251,491) $ 151,884 Customer-related 777,930 (425,588) 352,342 777,930 (377,368) 400,562 Trademarks and trade names 77,111 (49,069) 28,042 77,111 (45,529) 31,582 Total $ 1,258,416 $ (743,837) $ 514,579 $ 1,258,416 $ (674,388) $ 584,028 In the three and six months ended May 31, 2026, amortization expense related to intangible assets was $35.1 million and $69.5 million, respectively. In the three and six months ended May 31, 2025, amortization expense related to intangible assets was $36.6 million and $72.8 million, respectively. Future amortization expense for intangible assets as of May 31, 2026, is as follows: (in thousands) Remainder of 2026 $ 67,817 2027 112,166 2028 100,582 2029 100,582 2030 72,580 Thereafter 60,852 Total $ 514,579 Goodwill Changes in the carrying amount of goodwill in the six months ended May 31, 2026 are as follows: (in thousands) Balance, December 1, 2025 $ 1,309,054 Measurement period adjustments (1) and other 696 Balance, May 31, 2026 $ 1,309,750 (1) Represents measurement period adjustments related to Nuclia during fiscal year 2026. Refer to Note 4, Business Combinations for further information.

GoodwillAndIntangibleAssetsDisclosureTextBlock

"Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (""ASU 2023-09"") . ASU 2023-09 is intended to improve the transparency and decision usefulness of income tax disclosures, primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for us beginning with the annual period ending November 30, 2026, allowing for adoption on a prospective basis or a retrospective option. The adoption of this standard only impacts disclosures and is not expected to have a material impact on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) : Disaggregation of Income Statement Expenses (""ASU 2024-03""), and in January 2025, the FASB issued ASU No. 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (""ASU 2025-01""). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU 2024-03, as clarified by ASU 2025-01, is effective for us for our annual reporting for fiscal 2028 and for interim period r …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Restructuring The following table provides a summary of activity for all of our restructuring actions: (in thousands) Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2025 $ 2,585 $ 3,254 $ 5,839 Costs incurred 1,353 833 2,186 Cash disbursements (1,653) (3,504) (5,157) Asset impairment (447) (447) Translation and other adjustments (2) (4) (6) Balance, May 31, 2026 $ 1,836 $ 579 $ 2,415 Costs incurred during the three and six months ended May 31, 2026 are primarily related to our restructuring action that commenced in fiscal year 2025 to optimize efficiency, while ensuring alignment with the Company's long-term financial objectives. Cash disbursements for expenses incurred to date under this restructuring are expected to be made through the fourth quarter of fiscal year 2026. The restructuring reserve is included in other accrued liabilities on the condensed consolidated balance sheet as of May 31, 2026. We do not expect to incur additional material expenses in connection with this restructuring. …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Recognition Timing of Revenue Recognition Our revenues are derived from licensing our products and from related services, which consist of maintenance, SaaS, and professional services. Information relating to revenue from external customers by revenue type is as follows: Three Months Ended Six Months Ended (in thousands) May 31, 2026 May 31, 2025 May 31, 2026 May 31, 2025 Performance obligations transferred at a point in time: Software licenses $ 68,979 $ 50,795 $ 136,560 $ 109,240 Performance obligations transferred over time: Maintenance 101,222 103,491 201,561 203,026 SaaS 73,005 72,105 143,466 141,515 Professional services 10,259 10,964 19,677 21,589 Total revenue $ 253,465 $ 237,355 $ 501,264 $ 475,370 Geographic Revenue In the following table, revenue attributed to North America includes sales to customers in the U.S. and Canada and sales to certain multinational organizations. Revenue from EMEA, Latin America, and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows: Three Months Ended Six Months Ended (in thousands) May 31, 2026 May 31, 2025 May 31, 2026 May 31, 2025 North America $ 162,529 $ 147,326 $ 315,218 $ 301,972 EMEA 70,608 73,039 148,988 139,982 Latin America 5,790 4,853 11,316 9,905 Asia Pacific 14,538 12,137 25,742 23,511 Total revenue $ 253,465 $ 237,355 $ 501,264 $ 475,370 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Segment Information Operating segments are components of an enterprise that engages in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (""CODM"") in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer. We operate as one operating and reportable segment that is managed on a consolidated basis and derives substantially all of its revenue from the sale and support of one group of similar products and services, comprised of software products for the development, deployment, and management of responsible, AI-powered applications and digital experiences. The accounting policies of the Company's operating segment are the same as those described in Note 1, Nature of Business and Summary of Significant Accounting Policies to our Consolidated Financial Statements in Item 8 of our 2025 Annual Report. Our CODM does not receive profitability information at a lower level than consolidated results, and evaluates net income on a consolidated basis to set financial performance targets, assess performance, and make resource allocation decisions, primarily through comparison of actual results to forecasted results, year-over-year analysis, and review of historical performance trends. The measure of segment assets is reported on the Company's consolidated balance sheets as total consolidated assets. The Company's significant expenses and other segment items are p …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing