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Vmware, Inc. (VMW) SEC Filing 10-K Annual Report for the fiscal year ending Friday, January 28, 2022

SEC Filings

Vmware, Inc.

CIK: 1124610 Ticker: VMW

Exhibit 99.1

VMware Reports Fourth Quarter and Fiscal Year 2022 Results
FY22 total revenue of $12.85 billion; growth of 9% year-over-year
FY22 Subscription and SaaS revenue of $3.20 billion, an increase of 24% year-over-year

PALO ALTO, Calif., February 24, 2022
— VMware, Inc. (NYSE: VMW), a leading innovator in enterprise software, today announced financial results for the fourth quarter and full fiscal year 2022:

Quarterly Review
Revenue for the fourth quarter was $3.53 billion, an increase of 7% from the fourth quarter of fiscal 2021.

The combination of subscription and SaaS and license revenue was $1.90 billion, an increase of 11% from the fourth quarter of fiscal 2021.

Subscription and SaaS revenue for the fourth quarter was $868 million, an increase of 23% year-over-year.

GAAP net income for the fourth quarter was $586 million, or $1.39 per diluted share, down 26% per diluted share compared to $791 million, or $1.87 per diluted share, for the fourth quarter of fiscal 2021. Non-GAAP net income for the fourth quarter was $855 million, or $2.02 per diluted share, down 9% per diluted share compared to $936 million, or $2.21 per diluted share, for the fourth quarter of fiscal 2021.

GAAP operating income for the fourth quarter was $783 million, a decrease of 22% from the fourth quarter of fiscal 2021. Non-GAAP operating income for the fourth quarter was $1.14 billion, flat from the fourth quarter of fiscal 2021.

Operating cash flow for the fourth quarter was $1.14 billion. Free cash flow for the fourth quarter was $1.01 billion.

RPO for the fourth quarter totaled $12 billion, up 6% year-over-year.

Annual Review
Revenue for fiscal year 2022 was $12.85 billion, an increase of 9% from fiscal 2021.

The combination of subscription and SaaS and license revenue was $6.33 billion, an increase of 13% from fiscal year 2021.

Subscription and SaaS revenue for fiscal year 2022 was $3.20 billion, an increase of 24% from fiscal year 2021.

Subscription and SaaS ARR exiting fiscal year 2022 was $3.58 billion, an increase of 24% from fiscal year 2021.

GAAP net income for fiscal year 2022 was $1.82 billion, or $4.31 per diluted share, down 11% per diluted share compared to $2.06 billion, or $4.86 per diluted share, for fiscal year 2021. Non-GAAP net income for fiscal year 2022 was $3.06 billion, or $7.25 per diluted share, up 1% per diluted share compared to $3.05 billion, or $7.20 per diluted share, for fiscal year 2021.

GAAP operating income for fiscal year 2022 was $2.39 billion, flat from fiscal year 2021. Non-GAAP operating income for fiscal year 2022 was $3.92 billion, an increase of 3% from fiscal year 2021.

Operating cash flow for fiscal year 2022 was $4.36 billion. Free cash flow for fiscal year 2022 was $3.97 billion.

“The growth in customer demand for our multi-cloud solutions was reflected in our Q4 results. We are at an exciting time in our industry, as enterprises large and small transform and modernize to become software-based, digital enterprises,” said Raghu Raghuram, CEO, VMware. “We are well-positioned to help our customers build, run and secure their applications in this multi-cloud environment.”


The following information was filed by Vmware, Inc. (VMW) on Thursday, February 24, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Vmware, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parentheticals)
Consolidated Statements Of Income
Consolidated Statements Of Income (Parenthetical)
Consolidated Statements Of Stockholders??? Equity (Deficit)
Accrued Expenses And Other
Accrued Expenses And Other (Details)
Accrued Expenses And Other (Tables)
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill (Amortization Of Intangible Assets) (Details)
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill (Business Combination) (Details)
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill (Changes In Carrying Amount Of Goodwill) (Details)
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill (Intangible Assets Detail) (Details)
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill (Roll-Forward Of Intangible Assets) (Details)
Business Combinations, Definite-Lived Intangible Assets, Net And Goodwill (Tables)
Cash, Cash Equivalents, Restricted Cash And Short-Term Investments
Cash, Cash Equivalents, Restricted Cash And Short-Term Investments (Cash And Cash Equivalents) (Details)
Cash, Cash Equivalents, Restricted Cash And Short-Term Investments (Restricted Cash) (Details)
Cash, Cash Equivalents, Restricted Cash And Short-Term Investments (Short-Term Investments) (Details)
Cash, Cash Equivalents, Restricted Cash And Short-Term Investments (Tables)
Commitments And Contingencies
Commitments And Contingencies (Minimum Contractual Commitments) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Tables)
Debt
Debt (Carrying Value Of Senior Notes) (Details)
Debt (Future Principal Payments) (Details)
Debt (Revolving Credit Facility, Narrative) (Details)
Debt (Senior Unsecured Term Loan Facility, Narrative) (Details)
Debt (Tables)
Debt (Unsecured Senior Notes, Narrative) (Details)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Details)
Fair Value Measurements
Fair Value Measurements (Fair Value Hierarchy) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Effective Income Tax Rate Reconciliation) (Details)
Income Taxes (Income Before Income Tax) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Tables)
Income Taxes (Tax Provision (Benefit) By Jurisdiction) (Details)
Income Taxes (Tax Sharing Agreement) (Details)
Income Taxes (Unrecognized Tax Benefits) (Details)
Leases
Leases (Lease Assets And Liabilities) (Details)
Leases (Lease Cash Flow) (Details)
Leases (Lease Cost) (Details)
Leases (Lease Liability Maturity) (Details)
Leases (Lease Term And Discount Rate) (Details)
Leases (Narrative) (Details)
Leases (Tables)
Net Income Per Share
Net Income Per Share (Anti-Dilutive Shares Excluded From Net Income) (Details)
Net Income Per Share (Computations Of Basic And Diluted Net Income Per Share) (Details)
Net Income Per Share (Tables)
Overview And Basis Of Presentation
Overview And Basis Of Presentation (Advertising) (Details)
Overview And Basis Of Presentation (Basis Of Presentation And Principles Of Consolidation) (Details)
Overview And Basis Of Presentation (Concentrations Of Risks) (Details)
Overview And Basis Of Presentation (Employee Benefit Plans) (Details)
Overview And Basis Of Presentation (Net Income Per Share) (Details)
Overview And Basis Of Presentation (Policies)
Overview And Basis Of Presentation (Property And Equipment, Net) (Details)
Overview And Basis Of Presentation (Purchased Intangible Assets, Goodwill, And Derivative Instruments) (Details)
Overview And Basis Of Presentation (Revenue Recognition) (Details)
Overview And Basis Of Presentation (Tables)
Pivotal Acquisition
Pivotal Acquisition (Details)
Property And Equipment, Net
Property And Equipment, Net (Components Of Property And Equipment) (Details)
Property And Equipment, Net (Narrative) (Details)
Property And Equipment, Net (Tables)
Realignment
Realignment (Narrative) (Details)
Realignment (Schedule Of Restructuring Reserve) (Details)
Realignment (Tables)
Related Parties
Related Parties (Dell Financial Services) (Details)
Related Parties (Due To/From Related Parties, Net) (Details)
Related Parties (Note Payable To Dell) (Details)
Related Parties (Schedule Of Related Party Transactions) (Details)
Related Parties (Special Dividend) (Details)
Related Parties (Tables)
Related Parties (Transactions With Dell) (Details)
Revenue, Unearned Revenue And Remaining Performance Obligations
Revenue, Unearned Revenue And Remaining Performance Obligations (Narrative) (Details)
Revenue, Unearned Revenue And Remaining Performance Obligations (Remaining Performance Obligations) (Details)
Revenue, Unearned Revenue And Remaining Performance Obligations (Summary Of Unearned Revenue) (Details)
Revenue, Unearned Revenue And Remaining Performance Obligations (Tables)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Schedule Of Long-Lived Assets By Geographic Area) (Details)
Segment Information (Schedule Of Revenue By Geographic Area) (Details)
Segment Information (Schedule Of Revenue By Type) (Details)
Segment Information (Tables)
Stockholders' Equity
Stockholders' Equity (Accumulated Other Comprehensive Loss) (Details)
Stockholders' Equity (Employee Stock Purchase Plan) (Details)
Stockholders' Equity (Equity Plans) (Details)
Stockholders' Equity (Net Excess Tax Benefits) (Details)
Stockholders' Equity (Shares Repurchased For Tax Withholdings) (Details)
Stockholders' Equity (Special Dividend) (Details)
Stockholders' Equity (Stock Repurchase Program) (Details)
Stockholders' Equity (Stock-Based Compensation) (Details)
Stockholders' Equity (Summary Of Restricted Stock Activity) (Details)
Stockholders' Equity (Summary Of Stock Option Activity) (Details)
Stockholders' Equity (Tables)
Stockholders' Equity (Valuation Assumptions) (Details)
Ticker: VMW
CIK: 1124610
Form Type: 10-K Annual Report
Accession Number: 0001124610-22-000009
Submitted to the SEC: Thu Mar 24 2022 4:12:52 PM EST
Accepted by the SEC: Thu Mar 24 2022
Period: Friday, January 28, 2022
Industry: Prepackaged Software

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