Simon Belanger

So that always makes it a bit more difficult as well.

But do you want me to tackle Adobe?

I think Oracle.

Sorry, I think we have time.

Yeah.

I'll be quicker here because I mostly want to focus on like the cash situation for them.

So depending on which way you looked at it, it was a great quarter or an ugly one from Oracle.

If you're focused on the RPOs and the backlog, you probably thought it was great.

If you're someone who is focusing on kind of the total cost to satisfy that backlog, you probably thought it was fairly ugly.

So

So revenue grew 21%, earnings were up 22%, but gross margins took a 5% hit.

I'm fairly certain this is one of the, if not the largest backlogs in software history.

So it increased 363%.

I think it's at $638 billion now.

And I think that there's a big difference between something like Alphabet's massive backlog and Oracle's though.

And I do believe that Alphabet said that most of its backlog, not...

The majority of its backlog will be realized in two years, so over 50%.

I can't remember the exact numbers.

So for Oracle, they said only around 13% of it over the next year and only around 34% of it over the next three years.

So this is more long-dated data.