Akamai Technologies (AKAM) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached $1.095 billion, up 7% year-over-year; full-year revenue was $4.208 billion, up 5%.

• Security revenue rose 11% year-over-year to $592 million, and cloud infrastructure services (CIS) grew 45% to $94 million in Q4.

• Non-GAAP EPS was $1.84, up 11% year-over-year; non-GAAP operating margin was 29%.

• GAAP net income per diluted share fell 36% in Q4, while non-GAAP net income per diluted share rose 11%.

• Major four-year, $200 million CIS contract signed with a leading U.S. tech company; revenue recognition starts Q4 2026.

Financial highlights

• Q4 non-GAAP net income was $270 million, up 6% year-over-year; Q4 GAAP net income was $85 million, down 39%.

• Compute revenue totaled $191 million, up 14% year-over-year.

• International revenue was $542 million, up 11% year-over-year, making up 50% of total revenue.

• Q4 CapEx was $154 million (14% of revenue); full-year buybacks totaled $800 million for 10 million shares.

• Adjusted EBITDA for Q4 was $458 million, up 7% year-over-year; margin was 42%.

Outlook and guidance

• Q1 2026 revenue projected at $1.06–$1.085 billion, up 4–7% year-over-year.

• Full-year 2026 revenue expected at $4.4–$4.55 billion, up 5–8%.

• CIS revenue growth forecasted at 45–50% for 2026; security revenue to grow high single digits.

• 2026 non-GAAP operating margin estimated at 26–28%; CapEx to be 23–26% of revenue.

• Full-year 2026 non-GAAP EPS expected at $6.20–$7.20.