[ARM] Arm: Q2 fiscal 2027 earnings preview on royalties and smartphone weakness

Arm develops and licenses CPU architectures, processor and system IP, GPUs and compute subsystems (CSS); customers pay a license fee for the designs and then pay Arm a royalty on each chip they ship[1]. Ahead of its Q2 fiscal 2027 earnings, the Drillr earnings calendar shows Arm reporting results for the second quarter of fiscal year 2027, ending September 30, 2026, on 2026-11-04[2]. In the latest disclosed quarter, the first quarter of fiscal 2027 (April to June 2026), revenue rose 22% to $1.289 billion, with royalties of $715 million (+22%) and license and other revenue of $574 million (+23%)[3]. GAAP operating income was only $91 million[4], while non-GAAP operating income was $531 million, a 41% margin[5]. On July 29, management guided second-quarter revenue to $1.38 billion, plus or minus $50 million (22% growth at the midpoint), license and other revenue growth of about 30%, royalty growth in the low teens, non-GAAP operating expense of about $780 million and non-GAAP EPS of $0.47, plus or minus $0.04; it also cut its full-year royalty growth outlook from about 20% to the high teens[6]. Drillr's compilation shows a revenue consensus of $1.377 billion from 17 analysts (range $1.297 billion to $1.417 billion) and an EPS consensus of $0.474 from 18 analysts (range $0.455 to $0.494), both broadly in line with the midpoint of company guidance[7].

Three things matter most in this report. The first is whether royalty growth holds in the low teens: royalties made up 53% of fiscal 2026 revenue[8], smartphone applications processors account for about 43% of royalties[9], and memory-driven smartphone weakness has spread from the low end into the mid and upper tiers[10], so second-quarter growth will show how much of the unit decline higher Armv9 and CSS royalty rates and data center deployments can still offset. The second is how much of license growth comes from third-party customers: license revenue from external customers was $310 million in the first quarter, up 22%[3], but the SoftBank agreement alone contributed $192.9 million[11], and external license revenue fell 9% in fiscal 2026[12]; if the roughly 30% license growth guided for the second quarter comes mainly from related parties, the quality of that growth is weaker. The third is spending and AGI CPU progress: first-quarter R&D rose 29% to $838 million, outpacing 22% revenue growth[13], so whether second-quarter non-GAAP operating expense stays near its $780 million guidance and whether the AGI CPU stays on its schedule for production by the end of 2026[14] will determine whether margins hold before chip revenue arrives.

Company Background and Business Structure

Arm is the de facto standard architecture for smartphone processors, and its business model rests on licensing first and charging per shipped chip later. Arm Holdings plc was founded in 1990, is headquartered in Cambridge, England, trades on Nasdaq as American depositary shares and is controlled by SoftBank Group. Customers can choose among CSS, Arm Total Access, Arm Flexible Access, technology licenses and architecture licenses, and whichever model they use, Arm receives a per-unit royalty on substantially every chip shipped[1]. Almost every major mobile operating system depends on Arm processors, and Arm has held more than 99% of the smartphone applications processor market for many years[9].

Arm reports a single operating segment, and its revenue falls into two types: license and other revenue, and royalty revenue. Most license revenue is recognized when designs are delivered, the timing and size of high-value license agreements make quarterly revenue swing noticeably, and contributions from backlog also flow into the current period[15]. Royalties are charged as a percentage of a chip's selling price or a fixed fee per unit, and the rate rises as more Arm products are included in a chip[1]; Arm accrues royalties on estimates in the quarter customers ship chips and adjusts them the following quarter based on customer reports[16]. Of fiscal 2026 total revenue of $4.920 billion, royalties were $2.613 billion and license and other revenue $2.307 billion[8].

Customer concentration and related-party relationships are the most prominent features of Arm's revenue base. The top five customers, including Arm China and SoftBank Group, accounted for about 57% of fiscal 2026 revenue, and the largest customer, Arm China, alone accounted for about 16%[17]; the China market is served largely through sublicensing by Arm China, from which Arm receives a share of license and royalty revenue. Revenue from related parties rose 82% in fiscal 2026[12], including $704.4 million from SoftBank affiliates under the technology licensing and design services agreement[18].

In March 2026, Arm introduced its own production chip, the AGI CPU, extending the business from pure IP licensing into selling silicon, with production expected by the end of calendar 2026[14]. Third-party foundries and assembly and test partners will make the chip, which brings inventory, supply commitments and manufacturing risk to a company with almost no materials cost[19]; management says first-generation AGI CPU gross margin will be in the high-30% to low-40% range, far below the IP business[20].

Financial History and Current Position

Arm's revenue growth accelerated over the past three fiscal years, but its GAAP margin fell back as R&D expanded. For the fiscal years ended March 31, 2024, 2025 and 2026, revenue was $3.233 billion, $4.007 billion and $4.920 billion[21]; fiscal 2026 revenue rose 23%, with royalties up 21% and license and other revenue up 25%[12]. In fiscal 2026, gross profit was $4.799 billion, R&D $2.776 billion and SG&A $1.115 billion, leaving GAAP operating income of $900 million (a margin of about 18%, versus about 21% a year earlier) and net income of $904 million[21]; R&D rose 34%, driven mainly by investment in next-generation products such as the AGI CPU[22], and pre-tax share-based compensation for the year was $1.052 billion[23].

Arm's cash generation improved sharply in fiscal 2026, and capital spending grew alongside it. Operating cash flow for the year was $1.524 billion, and at the end of March the company held $2.751 billion of cash and cash equivalents and $850 million of short-term investments[24]; purchases of property and equipment were $545 million, up from $219 million the year before, driven by data center and office expansion and computer hardware[25]. The annual report disclosed no interest-bearing debt.

The first quarter of fiscal 2027 continued the split between revenue growth and GAAP profit. April-to-June revenue was $1.289 billion (+22%), with royalties of $715 million (+22%) and license and other revenue of $574 million (+23%)[3]; R&D was $838 million (+29%) and SG&A $317 million (+22%)[13], so GAAP operating income fell from $114 million a year earlier to $91 million, a 7% margin, and net income of $270 million included a $128 million gain on equity investments[4]. Excluding share-based compensation and related items, non-GAAP operating income was $531 million, a 41% margin, up 2 percentage points year over year[5].

First-quarter cash flow was strong, but a meaningful part came from working-capital timing. Operating cash flow was $902 million, up $570 million year over year, helped by a $389 million favorable movement in receivables collections and a $370 million favorable movement tied to the timing of taxes on vested shares, while capital expenditure was $197 million[26]. At the end of June, Arm held $3.058 billion of cash and cash equivalents and $830 million of short-term investments[27].

Operating Model

Arm's revenue equals license and other revenue plus royalty revenue, and the two are driven by different factors. In the first quarter they were $574 million and $715 million, for a total of $1.289 billion; royalties equal each customer's chip shipments multiplied by the per-chip rate, with $591 million from external customers and $124 million from related parties, while license and other revenue consisted of new external contracts and backlog release ($310 million) and related parties ($264 million)[3], the latter including $192.9 million from the SoftBank agreement[11]. AGI CPU chip revenue will only begin after production starts by the end of 2026[14].

Royalties are pulled by two forces in opposite directions, and recognition carries a one-quarter lag. Smartphone applications processors make up about 43% of royalties[9], so memory price inflation that raises handset costs and cuts smartphone shipments directly reduces royalties; deeper penetration of Armv9 and CSS in new chips raises the per-chip rate, and more Arm-based chips deployed in data centers add volume, pushing royalties up[15]. Because Arm accrues on estimates in the quarter customers ship and adjusts the next quarter on actual reports[16], any quarter's growth rate can include corrections to the prior quarter's estimates. License revenue moves on a different direction and lag: a customer's next-generation chip program produces a high-value license that is recognized on delivery, and those designs turn into royalties only after the customer's chip reaches volume, so today's licenses are the precondition for royalties several years out.

Arm's operating profit is determined almost entirely by how fast expenses grow. In the first quarter, cost of sales was only $36 million, gross profit was $1.253 billion for a gross margin of about 97%, and GAAP operating income equaled gross profit minus R&D of $838 million, SG&A of $317 million and other items of $7 million, or $91 million[4]. Pre-tax share-based compensation within expenses was $343 million[13], and non-GAAP operating income excluding share-based compensation and related employer taxes was $531 million[5]. Almost all incremental revenue flows to gross profit, so margin changes depend mainly on R&D growth; once the AGI CPU ramps, its first-generation gross margin in the high-30% to low-40% range will dilute the overall gross margin[20].

Arm's operating cash flow equals net income plus non-cash items such as share-based compensation, adjusted for changes in receivables, contract assets and contract liabilities, so revenue recognition and cash collection do not move in step. Most revenue from the SoftBank agreement is first booked as a contract asset, and contract assets from the SoftBank affiliate totaled about $577.2 million at the end of June[11], while the net amount due from Arm China was $283.5 million[28]. Contract liabilities fell from $1.046 billion at the end of March to $939 million at the end of June, as new customer prepayments and advance billings of only $110 million in the quarter were smaller than the revenue recognized out of contract liabilities[29].

Industry and Competitive Position

Arm is the de facto standard in smartphones, and the data center is its fastest-growing new arena. Arm has held more than 99% of the smartphone applications processor market for many years[9]; in the data center, cumulative Neoverse core shipments have passed 1.5 billion, including 500 million in the last nine months compared with six years for the first 1 billion, and NVIDIA, Google, AWS, Microsoft and Qualcomm have all launched or announced Arm-based AI infrastructure products[10]. Management said first-quarter data center royalty revenue more than doubled year over year[30], but Arm's written filings do not break out end markets, so that claim currently comes only from the earnings call.

Arm competes with x86, customers' in-house architectures and open-source RISC-V, and the AGI CPU adds a layer of direct competition with its own customers. The x86 camp is led by Intel and AMD, and some Arm customers are also major supporters of RISC-V; the annual report explicitly warns that with the AGI CPU, some customers who have historically licensed Arm IP will face direct competition from Arm in silicon products, which could affect existing commercial relationships[31].

The information available for comparison has clear limits. The only written figure on Arm's end-market mix is the annual report's statement that smartphones account for about 43% of royalties[9]; share and growth in data center, automotive and other markets come only from qualitative remarks on the earnings call, and competitors' comparable financial data are outside the available material. As a result, Arm's relative advantage in the data center can currently be shown only indirectly, through core shipments and customer product launches, and cannot yet be verified directly through a revenue breakdown.

Core Debates

With memory-driven smartphone weakness pushing Arm to cut its full-year royalty growth outlook from about 20% to the high teens, can higher Armv9/CSS royalty rates and data center chips keep second-quarter royalty growth in the low teens?

Royalties are Arm's largest revenue source and carry almost no matching cost, so this debate sets the floor for Arm's revenue growth. Fiscal 2026 royalties were $2.613 billion, 53% of total revenue[8], and smartphone applications processors account for about 43% of them[9]; at constant rates, every 10% drop in smartphone shipments takes roughly 4 percentage points off royalty growth. First-quarter royalties were $715 million, up 22%, with the external-customer portion at $591 million, up 26%, and the related-party portion, mainly from Arm China, at $124 million, up only 8%[3].

Arm attributes first-quarter growth to a richer mix of higher-rate products and more data center deployment, yet management lowered its outlook for the rest of the year at the same time. The 6-K says royalty growth came from a higher share of products with higher per-chip rates, such as Armv9 and CSS, and increased deployment of Arm-based chips in data centers[15]; on the call, management said data center royalties more than doubled year over year and that smartphone royalties still grew despite weak demand[30]. Even so, management guided second-quarter royalty growth to the low teens and, citing memory-driven weakness across every tier of the smartphone market, cut its full-year outlook from about 20% to the high teens[6]. An alternative reading is that part of the strong first-quarter growth came from adjustments to the prior quarter's accruals[16], and that the data center doubling cannot be checked against Arm's written disclosures, which makes second-quarter growth the cleaner test.

In financial terms, two opposing forces net out on the same revenue line. Memory price inflation raises handset costs, depresses smartphone shipments across price tiers and reduces applications processor volumes; at the same time, Armv9 and CSS penetration raises the per-chip rate, and cloud providers deploying Arm-based server chips and DPUs add data center volume, and together these determine royalty revenue[10]. What remains unresolved is whether higher rates and data center growth can offset the smartphone decline as fast as it is happening.

The most direct second-quarter checks are year-over-year royalty growth and how far external-customer growth slows. If royalty growth lands between 10% and 20% and no lower than 12%, external growth slows only modestly from the first quarter's 26%, and management keeps its high-teens full-year outlook without a worse description of smartphone shipments, the current understanding is supported. If growth falls below 10% and the full-year outlook is cut again, the smartphone drag has outrun the offset from rates and data centers; if growth comes in near 20%, the July cut was too conservative.

Arm's license revenue from external customers fell 9% in fiscal 2026 while related parties such as SoftBank drove the growth. Against guidance of roughly 30% license growth in the second quarter, can demand from third-party customers keep growing?

License revenue is both current revenue and the precondition for royalties in later years, so third-party demand matters more than the license total. License and other revenue is about 47% of total revenue; in fiscal 2026 it grew 25%, but license revenue from external customers fell 9% while related-party license revenue rose 141%[12]. SoftBank affiliates' technology licensing and design services contributed $704.4 million in fiscal 2026[18] and another $192.9 million in the first quarter of fiscal 2027, about one-third of license and other revenue, most of it still carried as contract assets and not yet collected[11].

External license revenue returned to growth in the first quarter, but the mix still leans toward related parties. License and other revenue was $574 million, up 23%, with external customers at $310 million (+22%) and related parties at $264 million (+24%)[3], while license revenue from Arm China declined on the timing of high-value agreements[28]. On the call, management said annualized contract value (ACV) grew 13% year over year and that the SoftBank agreement should run at about $200 million a quarter for the rest of the fiscal year[30]. Remaining performance obligations were $2.1226 billion at the end of June, with about 24% expected to be recognized over the next 12 months[32], while contract liabilities fell from $1.046 billion to $939 million[29].

The same numbers support two different readings. One holds that third-party demand is recovering on the back of next-generation architectures; the other holds that external growth mostly reflects the timing of large contracts and that the total still depends on related parties. In financial terms, next-generation chip programs at chip designers and cloud providers produce high-value Armv9, CSS and Total Access licenses recognized as external license revenue on delivery, while SoftBank affiliates pay under statements of work, creating related-party license revenue and contract assets[18]; together these make up license and other revenue and set the base for future royalties.

In the second quarter, the question is who delivers the roughly 30% license growth[6]. The checks are whether license and other revenue reaches about 30% growth, whether external license revenue keeps growing at double digits, and how SoftBank agreement revenue and the related contract assets move. If external license revenue falls year over year while the total hits its target on SoftBank, the quality of license growth is declining; if external growth is at least 15% and ACV growth is at least 13%, third-party demand is recovering.

Arm's R&D spending grew 29%, outpacing 22% revenue growth and leaving GAAP operating income at just $91 million. In the second quarter, can it hold non-GAAP operating expenses to its roughly $780 million guidance while keeping the AGI CPU on track for volume production by the end of 2026?

With a gross margin of about 97%, Arm's operating profit is set almost entirely by expense growth, which makes the pace of R&D the key margin variable. R&D rose 34% in fiscal 2026, driven mainly by next-generation products such as the AGI CPU[22]; in the first quarter of fiscal 2027, R&D rose 29% to $838 million and SG&A rose 22% to $317 million[13], while revenue grew only 22%, so GAAP operating income fell from $114 million (an 11% margin) a year earlier to $91 million (7%)[4]. On a non-GAAP basis, operating income was $531 million, a 41% margin, up 2 percentage points[5].

Progress on the AGI CPU is positive in itself, but revenue lands later than the costs. Management said initial product has been delivered to multiple customers, capacity is secured to support the original roughly $1 billion revenue opportunity across fiscal 2027 and 2028, customer demand now exceeds $2 billion, and a detailed update will come with third-quarter results[20]; the 6-K still states production is expected by the end of calendar 2026[14]. One reading is that this spending is buying a new revenue line; the other is that chip revenue will not appear until after the second half of fiscal 2027, while expenses and capital spending ($197 million in the first quarter[26]) weigh on profit first.

The financial transmission runs in two stages that are offset in time. In the first, hiring engineers, granting equity, expanding data centers and buying hardware for the AGI CPU and next-generation IP raise R&D, SG&A and capital spending and depress GAAP and non-GAAP operating income[22]; in the second, securing wafer, substrate, memory and test capacity leads to production and delivery by the end of 2026 and to chip revenue with a first-generation gross margin in the high-30% to low-40% range[20]. The annual report warns that production delays, low yields or misjudged demand could leave supply commitments that cannot be adjusted in time[19].

The second-quarter checks are spending discipline and the production schedule. Specifically, watch how far non-GAAP operating expense lands from its roughly $780 million guidance[6], whether R&D growth falls below revenue growth, and any update on AGI CPU production timing and capacity. If expenses exceed guidance and production slips, margins will fall without new revenue to show for it; if expenses hold to guidance and production stays on schedule, the non-GAAP margin can stay around 41%.

Risks and Falsifiers

The Qualcomm lawsuit is a legal risk to Arm's relationship with one of its largest licensees. Qualcomm sued Arm and its subsidiary Arm Limited for breach of contract, added another breach claim against Arm Limited alone on March 30, 2026, and the case is expected to go to trial in the fourth calendar quarter of 2026; Arm disagrees with Qualcomm's assertions and says it will defend vigorously[33]. An adverse outcome could affect license and royalty terms, though the company says it currently does not expect a material adverse effect and has made no provision; a trial outcome in Arm's favor, or a settlement that leaves license terms unchanged, would remove this risk.

Arm's exposure to China is concentrated in a single related party and is subject to US-China export controls. Arm China accounted for about 16% of fiscal 2026 revenue[17], nearly all China revenue flows through its sublicensing, Arm depends on the financial information it provides, and export controls could restrict dealings with some Chinese customers. In the first quarter, revenue recognized from Arm China under the intellectual property license agreement was $189.4 million, down from $201.0 million a year earlier, and the net amount due at the end of June was $283.5 million[28]. A return to year-over-year growth in Arm China revenue, with receivables collected on schedule, would ease this concern.

Memory-driven smartphone weakness is spreading from the low end to the mid and upper tiers, directly depressing smartphone chip shipments that account for about 43% of royalties[9]. The exposed line is first-quarter royalty revenue of $715 million[3]; every 10% decline in smartphone shipments takes roughly 4 percentage points off royalty growth, and management has already cut its full-year royalty outlook to the high teens for this reason[6]. If second-quarter royalty growth is at least 12% and the full-year outlook holds, concern about the smartphone drag is overstated.

The dependence of license growth on SoftBank affiliates is a concentration risk. Of first-quarter license and other revenue of $574 million, the SoftBank agreement contributed $192.9 million, with related contract assets totaling about $577.2 million[11]; if the agreement is reduced, delayed or terminated, license revenue loses about one-third of its quarterly contribution. If external license revenue grows at least 15% year over year and SoftBank contract assets decline as invoices are issued, this risk recedes.

The AGI CPU relies on third-party foundries and assembly and test partners, and wafer, substrate, memory and test capacity are all tight, so production delays or poor yields would put R&D and supply commitments ahead of revenue[19]. The exposed lines are first-quarter R&D of $838 million[13], capital spending of $197 million[26] and supply commitments, along with a first-generation chip gross margin in the high-30% to low-40% range[20]. If the AGI CPU reaches production on schedule by the end of 2026 and third-quarter results confirm a revenue opportunity above $1 billion, this risk is falsified.

What to Watch Next

• Royalties: whether second-quarter royalty growth lands between 10% and 20% and no lower than 12%, against $715 million and +22% in the first quarter[3]. Below 10% with another outlook cut falsifies the current view; near 20% means the July cut was too conservative.
• External royalties: how far growth slows from $591 million and +26% in the first quarter[3]. A modest slowdown with the high-teens full-year outlook intact confirms the view.
• License total: whether license and other revenue reaches about 30% growth from $574 million and +23% in the first quarter[6]. Hitting the target on SoftBank while external licenses decline falsifies the view.
• External licenses and ACV: whether external license revenue, $310 million and +22% in the first quarter with ACV up 13%[30], keeps double-digit growth. External growth of at least 15% with ACV of at least 13% confirms recovery.
• SoftBank: whether contract assets of about $577.2 million against $192.9 million of quarterly revenue[11] fall as invoices are issued. Continued build-up alongside weaker external demand falsifies the view.
• Operating expense: how far non-GAAP operating expense lands from the roughly $780 million guidance[6]. Overspending combined with a production delay falsifies the view.
• R&D growth: whether R&D growth, +29% against +22% revenue in the first quarter[13], falls below revenue growth. Holding guidance with a margin near 41% confirms the view.
• AGI CPU: whether production by the end of 2026 stays on schedule, given capacity secured for about $1 billion of opportunity and demand above $2 billion[20]. On-time production and a third-quarter confirmation of more than $1 billion of opportunity confirm the view.

Conclusion

Arm's business runs on two revenue lines: royalties follow customers' chip shipments and per-chip rates, licenses follow customers' next-generation chip programs, and a gross margin of about 97% means margins depend almost only on expense growth. First-quarter fiscal 2027 revenue was $1.289 billion, up 22%[3], GAAP operating income was only $91 million[4], the non-GAAP margin was 41%[5], and at the end of June Arm held $3.058 billion of cash and cash equivalents and $830 million of short-term investments[27]. Three relationships remain unresolved: whether data centers and higher-rate products can offset the smartphone decline, whether license growth can move beyond its reliance on SoftBank, and whether R&D and AGI CPU investment can coexist with stable margins before chip revenue arrives.

Two independent assessments published after the first-quarter report land on different parts of these relationships. Futurum Research argues that data center CPU adoption gives Arm a clearer path to royalty growth even as consumer device cycles soften, that smartphone pressure stems from memory cost inflation hitting unit demand, and that the AGI CPU has secured capacity for its $1 billion opportunity but demand has moved ahead of that capacity, so the next stage depends on expanding manufacturing[34]. Gian Estrada, writing for TIKR, argues instead that the SoftBank related-party arrangement of about $200 million a quarter props up a meaningful share of license growth, that second-quarter royalty growth was guided to only about 13%, and that management's data center royalty claims currently cannot be checked against Arm's own disclosures[35]. Both acknowledge smartphone weakness, but Futurum treats the data center as a reliable offset and locates the AGI CPU bottleneck on the supply side, while TIKR questions the quality of license growth and whether the data center claims can be verified; these are outside interpretations, not facts, and they do not amount to a majority view.

The combination that would materially strengthen the current understanding is second-quarter royalty growth of at least 12% with the high-teens full-year outlook intact, external license growth of at least 15% with ACV growth of at least 13%, non-GAAP operating expense held near $780 million, and an unchanged AGI CPU production schedule followed by a revenue opportunity above $1 billion at third-quarter results[6]. Conversely, royalty growth below 10%, a year-over-year decline in external licenses with the total carried by SoftBank, and spending above guidance alongside a production delay would mean the smartphone drag, related-party reliance and front-loaded costs are worsening together, and the current understanding would need significant revision.

Sources

[1] ARM 20-F filed 2026-05-26 · business model · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[2] Drillr earnings calendar (updated 2026-10-13) · ARM 2026-11-04 release · 2026-10-13 · Drillr earnings calendar

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[4] ARM 6-K filed 2026-07-29 · Q1 FY27 income statement · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[5] ARM earnings call 2026-07-29 · Q1 FY27 non-GAAP results · 2026-07-29 · earnings-call · https://www.businesswire.com/news/home/20260729964548/en/Arm-Holdings-plc-Reports-Results-for-the-First-Quarter-of-the-Fiscal-Year-Ending-2027/

[6] ARM earnings call 2026-07-29 · Q2 FY27 guidance · 2026-07-29 · earnings-call · https://www.businesswire.com/news/home/20260729964548/en/Arm-Holdings-plc-Reports-Results-for-the-First-Quarter-of-the-Fiscal-Year-Ending-2027/

[7] Drillr analyst_financial_estimates (updated 2026-10-13) · ARM quarter ending 2026-09-30 · 2026-10-13 · Drillr analyst_financial_estimates · https://gateway.drillr.ai/mcp/private

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[9] ARM 20-F filed 2026-05-26 · mobile applications processor share · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[10] ARM earnings call 2026-07-29 · data center and smartphone mix · 2026-07-29 · earnings-call · https://www.businesswire.com/news/home/20260729964548/en/Arm-Holdings-plc-Reports-Results-for-the-First-Quarter-of-the-Fiscal-Year-Ending-2027/

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[13] ARM 6-K filed 2026-07-29 · Q1 FY27 R&D and SG&A · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[14] ARM 6-K filed 2026-07-29 · AGI CPU production timing · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[15] ARM 6-K filed 2026-07-29 · Q1 FY27 revenue drivers · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[16] ARM 6-K filed 2026-07-29 · royalty recognition · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[17] ARM 20-F filed 2026-05-26 · customer concentration and Arm China · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[18] ARM 20-F filed 2026-05-26 · SoftBank consulting revenue · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[19] ARM 20-F filed 2026-05-26 · AGI CPU supply risk · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[20] ARM earnings call 2026-07-29 · AGI CPU update · 2026-07-29 · earnings-call · https://www.businesswire.com/news/home/20260729964548/en/Arm-Holdings-plc-Reports-Results-for-the-First-Quarter-of-the-Fiscal-Year-Ending-2027/

[21] ARM 20-F filed 2026-05-26 · consolidated income statement · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[22] ARM 20-F filed 2026-05-26 · R&D expense drivers · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[23] ARM 20-F filed 2026-05-26 · share-based compensation · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[24] ARM 20-F filed 2026-05-26 · cash flow and liquidity · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[25] ARM 20-F filed 2026-05-26 · capital expenditure · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[26] ARM 6-K filed 2026-07-29 · Q1 FY27 cash flow · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[27] ARM 6-K filed 2026-07-29 · liquidity · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[28] ARM 6-K filed 2026-07-29 · Arm China related party · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[29] ARM 6-K filed 2026-07-29 · contract liabilities · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[30] ARM earnings call 2026-07-29 · Q1 FY27 results by revenue type · 2026-07-29 · earnings-call · https://www.businesswire.com/news/home/20260729964548/en/Arm-Holdings-plc-Reports-Results-for-the-First-Quarter-of-the-Fiscal-Year-Ending-2027/

[31] ARM 20-F filed 2026-05-26 · competition with licensees · 2026-05-26 · 20-F · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=20-F

[32] ARM 6-K filed 2026-07-29 · remaining performance obligations · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[33] ARM 6-K filed 2026-07-29 · Qualcomm litigation · 2026-07-29 · 6-K · https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001973239&type=6-K

[34] Futurum Research 2026-08-03 · Arm Q1 FY 2027: Data Center Royalties Strengthen as AGI CPU Gains Traction · 2026-08-03 · Futurum Research · https://futurumgroup.com/insights/arm-q1-fy-2027-data-center-royalties-strengthen-as-agi-cpu-gains-traction/

[35] TIKR 2026-09-14 · SoftBank Is Quietly Propping Up Arm's Growth Story · 2026-09-14 · TIKR · https://www.tikr.com/blog/softbank-is-quietly-propping-up-arms-growth-story-heres-where-arm-stock-could-go-in-2026