AKAM · 10-Q · 2026Q2 · Full report
Outstanding Indebtedness
AKAMAI TECHNOLOGIES INC · 2026-08-07 · Importance 71 · Surprise 60 · No source text
In May 2026, Akamai issued $1.75 billion of zero-coupon convertible senior notes due 2030 and another $1.75 billion due 2032, generating $3.216 billion of net convertible-note financing activity during the first six months of 2026. Total convertible senior notes outstanding were $7.640 billion as of June 30, 2026, consisting of senior unsecured obligations maturing between September 2027 and May 2033. The carrying value of the 2033 Notes was reclassified to current liabilities after a market-price trigger was met, making the notes convertible during the quarter ending September 30, 2026; no holders had submitted notes for conversion through the filing date.
Key facts
- During the six months ended June 30, 2026, we issued $3,500.0 million in par value of convertible senior notes. source
- In May 2026, we issued $1,750.0 million in principal amount of convertible senior notes due 2030 and $1,750.0 million in principal amount of convertible senior notes due 2032 and entered into related convertible note hedge and warrant transactions. source
- During the six months ended June 30, 2025, we issued $1,725.0 million in par value of convertible senior notes and repaid $1,150.0 million in convertible senior notes which were due in May 2025. source
- Accordingly, the 2033 Notes are convertible at the option of the holders during the three months ended September 30, 2026. source
- As of June 30, 2026, we had $7,640.0 million of convertible senior notes outstanding that are senior unsecured obligations. source
- We have reclassified the carrying value of the convertible senior notes due 2033 ("2033 Notes") from non-current liabilities to current liabilities in the interim condensed consolidated balance sheets as of June 30, 2026 because the market price trigger condition for the 2033 Notes was met as of June 30, 2026. source
- Net convertible senior notes activity for the six months ended June 30, 2026: $3,216,149 (in thousands). source
- The convertible senior notes mature between September 2027 and May 2033. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -23.2% | In May 2026, we issued $1,750.0 million in principal amount of convertible senior notes due 2030 and $1,750.0 million in principal amount… |
| liability | positive | realized | +21.3% | Net convertible senior notes activity for the six months ended June 30, 2026: $3,216,149 (in thousands). |
| liability | positive | contingent | — | Accordingly, the 2033 Notes are convertible at the option of the holders during the three months ended September 30, 2026. |
| liability | negative | realized | — | We have reclassified the carrying value of the convertible senior notes due 2033 ("2033 Notes") from non-current liabilities to current… |