- Set long-term outlook for FY30 of $225 billion+ in total revenue, representing more than 35%
CAGR from FY26, non-GAAP operating margin of 40%+ and non-GAAP EPS $21+.
- Defined timeline to positive free cash flow during the second half of FY28 and set free cash
flow target of $30 billion+ for FY29.
- Committed to limiting additional capital raises through FY30 to $20 billion, excluding
refinancing of existing debt, split between $10 billion in equity and $10 billion in gross debt.
- Confirmed that growth will be self-funded beginning in FY29 and net debt to adjusted EBITDA
will be below 3.5 times in FY29.¹
AUSTIN, Texas, October 28, 2026 -- Oracle Corporation (NYSE: ORCL) today hosted an Investor Day in
Las Vegas, NV. At the event co-CEO Clay Magouyrk, co-CEO Mike Sicilia and CFO Hilary Maxson presented and responded
to questions about the company’s strategy and updated medium-term financial guidance.
At its Investor Day, Oracle described how its unique portfolio positioning across cloud infrastructure, database and
applications is expected to drive total revenue growth of more than 35% CAGR from FY26 through FY30, reaching total
revenue of $225 billion or more in FY30. It also outlined its expectations for strong profitability and free cash
flow generation from each of its three business models. Following a period of peak capex in FY27-FY28, capital
expenditures are expected to step-down in FY29, supporting positive free cash flow of at least $30 billion in FY29.
Oracle committed to limiting additional funding to be raised in the capital markets for its FY27-FY30 investment
cycle to $20 billion, currently expected to be $10 billion in equity and $10 billion in gross debt. This incremental
funding requirement excludes refinancing of existing debt. This is in addition to the $20 billion at-the-market
equity raise completed in the first quarter of fiscal 2027. Vendor financing, customer-provided hardware and
customer prepayments are expected to reduce upfront cash requirements through the transition to positive free cash
flow.
Oracle reaffirmed its fiscal 2027 outlook for total revenue of at least $90 billion and non-GAAP earnings per share
of $8.10. The company’s capital allocation priorities remain maintaining investment-grade credit ratings,
paying a dividend and funding growth opportunities.
The Investor Day presentations and webcast replay will be available on the Oracle Investor Day website.
1. Net debt includes borrowings, vendor financing, and operating and finance lease liabilities, less cash and
marketable securities. Adjusted EBITDA is based on Oracle’s reported non-GAAP results, with depreciation and
operating lease expense added back.
About Oracle
Oracle provides cloud applications and infrastructure for enterprises worldwide. For more information about Oracle
(NYSE: ORCL), visit www.oracle.com.
# # #
Non GAAP Financial Measures
To supplement our financial results presented on a GAAP basis, we use non-GAAP measures, which exclude certain
significant expenses including stock-based compensation, expenses related to acquisitions, restructuring and
certain other operating expenses, that we believe are helpful in understanding our past financial performance
and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a
substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial
statements prepared in accordance with GAAP.
Safe Harbor Statement
Statements in this press release relating to Oracle’s future plans, expectations, beliefs, intentions and
prospects, including statements regarding future revenues and revenue growth, non-GAAP operating margin and
earnings per share; the timing and amount of positive free cash flow; expected capital expenditures; future
funding needs and financing strategy, including Oracle’s commitment to limit additional capital raises;
the expected effects of vendor financing, customer-provided hardware and customer prepayments on upfront cash
requirements; the timing of self-funded growth; future net debt to adjusted EBITDA; and capital allocation
priorities, including maintaining investment-grade credit ratings, paying dividends and funding growth
opportunities, are "forward-looking statements" and are subject to material risks and uncertainties.
Forward-looking statements may be identified by words such as “expect,” “anticipate,”
“plan,” “believe,” “intend,” “target,” “will,” and
“committed,” and similar expressions, although not all forward-looking statements contain these
words. Risks and uncertainties that could affect our current expectations and our actual results, include, among
others: our ability to develop new products and services, integrate acquired products and services and enhance
our existing products and services, including our AI products; our AI products not operating as anticipated; our
ability to successfully execute our Oracle Cloud strategy; our ability to anticipate, plan for, secure and
manage datacenter capacity; our management of complex cloud and hardware offerings, including the sourcing of
technologies and technology components such as graphic processing units; significant coding, manufacturing or
configuration errors in our offerings; risks associated with acquisitions, joint ventures and strategic
alliances; business volatility and risks associated with government contracting; economic, political and market
conditions, including tariffs and trade wars; information technology system failures, privacy and data security
concerns; cybersecurity breaches; disruptions from our period workforce restructurings; unfavorable legal
proceedings, government investigations, and complex and changing laws and regulations, including healthcare
regulations. A detailed discussion of these factors and other risks that affect our business is contained in our
SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk
Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations
Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at
www.oracle.com/investor/. All information set forth in this press release is current as of October 28, 2026.
Oracle undertakes no duty to update any statement in light of new information or future events.