CSCO · 10-K · 2026A · Full report

FX / Currency Headwinds

CISCO SYSTEMS, INC. · 2026-09-02 · Importance 18 · Surprise 14

Foreign-currency fluctuations, net of hedging, increased Cisco's combined R&D, sales and marketing, and G&A expenses by approximately $195 million in fiscal 2026. The increase represented 0.8% of those operating expenses compared with fiscal 2025. The filing does not quantify a corresponding revenue impact from currency movements.