Cisco Systems, Inc. designs, manufactures, and sells a broad range of networking technologies, products, and services related to the Internet and communications industry. The company operates globally and manages its business geographically, with three primary segments: Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC). Cisco's core product and service categories include Networking (switching, routing, wireless, and servers), Security (network security, identity and access management, SASE, and threat intelligence), Collaboration (Webex, devices, contact centers, and CPaaS), and Observability (network assurance and monitoring tools). The company also offers a broad range of service offerings, including technical and lifecycle services. Cisco serves a diverse customer base, including businesses of all sizes, public institutions, governments, and service providers. The company's business strategy focuses on securely connecting everything to enable digital resilience for its customers, with key priorities in modernizing infrastructure, improving cybersecurity, and harnessing the power of AI and data.

• Employees: Approximately 90,400 (as of July 27, 2024)
• Geographic Footprint: Americas; EMEA; and APJC
• Headquarters: San Jose, California, USA
• Founded: 1984 (Incorporated in California) / 2021 (Reincorporated in Delaware)
• Revenue (FY2024): $53.80 billion
• Market Capitalization: $211.1 billion (as of January 26, 2024)
• Key Subsidiaries/Brands: Information not available in the provided 10-K excerpt.

• CEO & Chairman: Charles H. Robbins (since July 2015)
• CFO: R. Scott Herren (since December 2020)
• President, Go-to-Market: Gary Steele (since March 2024)
• Executive Vice President and Chief Legal Officer: Deborah L. Stahlkopf (since August 2021)
• Executive Vice President, Operations: Thimaya Subaiya (since March 2024)

• Annual Revenue (FY2024): $53.80 billion
• Net Income (FY2024): $10.32 billion
• Market Cap: $211.1 billion (as of January 26, 2024)
• Total Assets (FY2024): $124.41 billion
• Number of Employees: Approximately 90,400 (as of July 27, 2024)
• Key Financial Highlights from FY2024: Total revenue decreased by 6% compared to FY2023. Product revenue decreased by 9% while service revenue increased by 5%. Total software revenue increased by 9% to $18.4 billion, driven by the acquisition of Splunk. Total subscription revenue increased by 11%. Gross margin increased by 2 percentage points. Operating income decreased by 19%.

Cisco offers a wide range of networking technologies, products, and services. These are categorized into the following key areas:

• Networking: Core networking technologies, including switching, routing, wireless, and servers. This segment includes both hardware and software offerings, as well as software licenses and SaaS solutions. Cisco aims to converge its on-premise solutions with cloud-managed solutions across its networking portfolio.
• Security: Encompasses network security, identity and access management, Secure Access Service Edge (SASE), and threat intelligence solutions. The company emphasizes cloud-based offerings, AI-enhanced threat detection, and end-to-end security architectures.
• Collaboration: Includes Webex Suite, collaboration devices, contact center solutions, and Communication Platform as a Service (CPaaS). Cisco's collaboration strategy focuses on enhancing employee and customer experiences through inclusive and engaging technology.
• Observability: Offers network assurance, monitoring, analytics, and observability suite offerings. These solutions provide end-to-end visibility across applications, networks, multi-cloud infrastructures, and the Internet.
• Services: Provides a range of service and support options, including technical support, advanced services (lifecycle services), and advisory services.

Cisco's business is organized and managed geographically, divided into three main segments:

• Americas: FY2024 revenue: $31.97 billion (59.4% of total revenue)
• EMEA (Europe, Middle East, and Africa): FY2024 revenue: $14.12 billion (26.2% of total revenue)
• APJC (Asia Pacific, Japan, and China): FY2024 revenue: $7.72 billion (14.3% of total revenue)

Cisco's strategy centers on securely connecting everything to enable digital resilience for its customers. The company's current strategic priorities align with customer needs in three key areas:

• Building modern and resilient infrastructure
• Protecting against evolving cyber threats
• Harnessing the power of AI and data

Cisco invests heavily in innovation and development across its product portfolio, including software, silicon, and optics. The company is focused on delivering flexible consumption models through a combination of hardware, software, and subscriptions, catering to the evolving demands of its customers.

Cisco operates in the highly competitive and rapidly evolving networking and communications equipment market. The company faces competition from numerous vendors in each of its product categories, including companies like Arista Networks, Broadcom, Huawei, Juniper Networks, and Microsoft, among others. Market trends impacting Cisco's business include industry consolidation, rapid technological advancements, evolving standards, changing customer requirements, and the increasing adoption of cloud computing and virtualization.

• Fluctuating Operating Results: Cisco's operating results are subject to quarterly and annual fluctuations due to various factors, including demand fluctuations, changes in sales cycles, pricing and product competition, and the introduction of new technologies. These fluctuations can be amplified by a volatile global economic environment.
• Supply Chain Disruptions: Cisco relies on contract manufacturers and an extended supply chain, making it vulnerable to supply chain disruptions, component shortages, and financial problems of its suppliers. These issues could negatively impact production, delivery, and gross margins.
• Intense Competition: The networking and communications equipment market is intensely competitive, with rapid technological change and a migration to advanced networking solutions. Cisco faces competition from established players and new entrants, potentially impacting its revenue growth and market share.
• Cybersecurity Threats: Cisco's business and IT environment are subject to cyberattacks and data breaches, which could disrupt operations, harm financial results, damage reputation, and lead to legal liabilities.
• Dependence on Key Personnel: Cisco's success depends on its ability to attract and retain skilled technical, managerial, sales, and marketing personnel. Competition for such talent is intense, and the loss of key personnel could hinder the company's ability to meet its objectives.