What happened
Oracle (ORCL) sells databases, enterprise software and cloud infrastructure (OCI).
ORCLOracle·FY27Q1 10-QPaidFiling score 58 · Moderate
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Oracle funded $28.5bn of quarterly capex by selling $19.9bn of new shares
Fiscal Q1 2027 10-Q: revenue $19,345m (+30%), yet much of the operating cash came not from selling but from customer prepayments. In the same quarter the company exhausted its share-sale programme in full
Oracle (ORCL) reported revenue of $19,345m for its fiscal first quarter (June–August 2026), up 30% from a year earlier, and net income of $4,760m. The real story of the quarter is in the cash-flow statement and the equity note of the 10-Q filed on September 11: to spend $28.5bn on data centers, the company sold $19.9bn of new shares into the market and collected $11.4bn from customers in advance.
In plain terms
Oracle spent $28.5 billion on data-center equipment this quarter, 3.4 times what it spent a year earlier. To pay for it the company sold newly issued shares for $19.9 billion and collected $11.4 billion from customers in advance. Customers have committed $664 billion of future business, but only about 13% of that turns into revenue within a year, while interest on $125.3 billion of borrowings costs $1.4 billion a quarter.
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58 Filing score · Moderate
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FAQ
Does $23.1bn of operating cash flow mean strong results?
Beyond net income plus non-cash charges, a large amount of customer prepayments came in. Both figures are in the subscriber section.
How dilutive is $19.9bn of new shares?
The share count issued as a percentage of the pre-issuance count is in the subscriber section. The company states the proceeds are for general purposes including capital spending and debt repayment.
When does the $664bn of RPO become revenue?
The company discloses expected shares within twelve months, months 13-36 and months 37-60. The percentages and amounts are in the subscriber section.
Where can I verify these numbers?
On SEC EDGAR: Oracle's fiscal Q1 2027 Form 10-Q (accession 0001193125-26-389274), the cash-flow statement, the RPO and customer-prepayment paragraphs of Note 1, the ATM program in the equity note, borrowings on the balance sheet and the capex section of MD&A.
How aiSwingX™ wrote this
- We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
- Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
- An editor reviews before publication; any later change is recorded in the revision history.
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Oracle Form 10-Q for fiscal Q1 2027 (as of August 31, 2026): statement of operations, cash-flow statement (prepayment line, capex), Note 1 'Remaining performance obligations; customer prepayments (significant financing component)', equity note (ATM program $19.9bn), balance sheet (borrowings), MD&A 'Capital expenditures, working capital, recent financing activities' · SEC EDGAR · This article is not investment advice. Disclaimer