ORCL’s remaining performance obligations hit $638 billion, up 363% year-over-year, with $76 billion converting to revenue in 12 months.
Oracle reported $638 billion in remaining performance obligations at the end of Q4 FY2026, a 363% year-over-year increase. The backlog, driven by AI workloads and multi-year enterprise contracts, includes $76 billion set to convert to revenue within the next 12 months, pre-funding future guidance.
Cloud infrastructure revenue grew 93% year-over-year to $5.787 billion, now accounting for 52% of total quarterly sales. The company’s multicloud datacenters embedded in Microsoft and Amazon clouds ensure revenue regardless of hyperscaler competition.
Shares closed at $147.02 on August 7, down 40% over the past year despite the backlog growth. The stock remains 33% below its level following a Q2 revenue miss last December.