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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Akamai Technologies
Akamai Technologies (AKAM) investor relations material
Akamai Technologies Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue was $1.122B, up 6% YoY reported and 7% in constant currency; Security and CIS growth offset weaker Delivery and other cloud applications.
More than $14B of multi-year CIS commitments were signed in 2026, including an $11.6B, seven-year Anthropic commitment; two of the first three major deals were already generating revenue.
CIS growth is expected to accelerate, supporting 17%-22% total revenue growth in 2027 and revenue above $7B in 2028.
Financial highlights
Q3 GAAP net income was $117.1M vs. $140.2M; diluted EPS was $0.77 vs. $0.97. Non-GAAP net income was $262M and diluted EPS was $1.77.
Q3 GAAP operating income was $108.7M vs. $166.0M; non-GAAP operating income was $286M, down 11% YoY.
Adjusted EBITDA was $435.3M, with a 39% margin, vs. $458.4M and 43% a year earlier; Q3 operating cash flow was $433M.
Q3 CapEx was $464M, or 41% of revenue, slightly below guidance due mainly to equipment delivery timing.
Cash, cash equivalents and marketable securities totaled $4.239B at September 30; nine-month operating cash flow was $1.072B.
Outlook and guidance
Q4 revenue guidance is $1.145B-$1.170B; non-GAAP EPS is $1.50-$1.70, non-GAAP operating margin ~24%, adjusted EBITDA margin ~38%, and cash gross margin ~70%.
FY2026 revenue guidance is $4.440B-$4.465B; non-GAAP EPS is $6.47-$6.68 and non-GAAP operating margin ~25%.
FY2027 CIS revenue is projected at $1.1B-$1.3B, with total revenue growth of 17%-22% in constant currency; FY2028 revenue is expected to exceed $7B, excluding Anthropic option revenue.
CIS revenue is expected to ramp 25%-30% in H1 2027 and 70%-75% in H2; ~$30M shifts from Q4 2026 into 2027, with no change to contract-period revenue.
Q4 CapEx guidance is $2.445B-$2.645B, including ~$1.7B for critical components; FY2026 CapEx guidance is $3.462B-$3.662B.
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Latest events from Akamai Technologies
- Secured a $11.6B, seven-year AI infrastructure contract with expansion potential to $20B.AKAM
Investor update - AI compute expansion, $2.8B+ in deals, and accelerating growth drive long-term advantage.AKAMGoldman Sachs Communacopia + Technology Conference 2026
- Compute and security now drive growth, with cloud revenue set to accelerate amid strong AI demand.AKAMCiti’s 2026 Global TMT Conference
- Security and cloud drove 5% revenue growth, but margins compressed amid heavy investment.AKAMQ2 2026
- Cloud Infrastructure Services revenue soared 40%, driving 6% overall growth and a record $1.8B deal.AKAMQ1 2026
- Virtual annual meeting to vote on directors, compensation, stock plans, and political spending report.AKAMProxy filing
- Q3 revenue up 5%, net income and EPS surged, led by security and cloud growth.AKAMQ3 2025
- Security and compute drove 5% revenue growth and 6% higher non-GAAP EPS in Q2 2024.AKAMQ2 2024
- Security and compute growth drove 2024 revenue gains, offsetting delivery declines.AKAMQ4 2024
Next Akamai Technologies earnings date
RBC Global Technology, Internet, Media and Telecommunications Conference17 Nov, 2026
Akamai Technologies
Next Akamai Technologies earnings date
RBC Global Technology, Internet, Media and Telecommunications Conference17 Nov, 2026
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Frequently asked questions
Content Delivery Networks
Akamai Technologies is an American Content Delivery Network (CDN), cybersecurity and cloud services company headquartered in Cambridge, Massachusetts, and listed on the Nasdaq. Akamai is a relatively young company and was founded and had its IPO in 1999. The company operates and rents out server capacity for customers looking to increase the efficiency of their own websites by routing traffic through Akamais hardware located closer to the user. This is done to increase loading speeds and performance for the end user, and Akamai also provides various cybersecurity measures. The name comes from Hawaiian and means “Clever” or “Cool”, which one of the founders had discovered in a dictionary.
Early Days and MIT
In 1998, the founding team entered a competition held by MIT with a prize of $ 50,000 for the winner. The Akamai team entered with a business idea based on research conducted on consistent hashing, which in short enabled faster and more reliable downloading speeds from the internet. The group was selected as one of the finalists (and came in second place), and it didn’t take long until Akamai was incorporated and the wheels started spinning faster and faster.
What They Do
Akamai owns and operates a vast network of servers across the globe. Customers can then rent space on these servers to increase the speed and performance of the end user, regardless of where this user might be. When a user connects to the website of a customer of the company, they’re redirected to one of Akamai’s systems to receive the information they’re looking for. Various technologies, such as the previously mentioned consistent hashing and cybersecurity measures, ensure that the connection is both secure and quick. When looking at Akamai’s competition we find companies such as Cloudflare, as well as Alphabet and Amazon’s CDN services.
The Sheer Scale of Operations
The Akamai Intelligent Platform is the company’s cloud computing platform. It operates worldwide and has a network of over 350,000 servers spread across more than 130 countries. They gather real-time information about the network and its users, enabling them to monitor traffic and potential problems that can arise. As previously mentioned, Akamai also provides various cybersecurity measures for its customers, primarily within DDoS protection.