Quarterly guidance

Revenue
Between $2.649 billion and $2.653 billion for Q4 2026.
Adjusted income from operations
Between $1.640 and $1.644 billion for Q4 2026.

Annual guidance

Full year revenue
Between $8.530 billion and $8.534 billion.
U.S. commercial revenue
In excess of $3.559 billion, representing a growth rate of at least 143%.
Adjusted income from operations
Between $5.245 billion and $5.249 billion.
Adjusted free cash flow
Between $4.8 billion and $5 billion.

Outlook

Sovereign AI demand
Management sees insatiable and accelerating demand for Sovereign AI, noting that the revolution is only one quarter old.
Strategic contracts
Revenue from strategic commercial contracts is expected to be less than $500,000 in the fourth quarter, with no further revenue anticipated beyond Q4.
Investments
The company remains committed to ongoing investment in technical talent, R&D, and AI platform capabilities.