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Remaining Performance Obligations
Measures contracted but not yet delivered or billed revenue—mainly from multi‑period cloud and service contracts—providing visibility into future revenue streams and how sticky customer relationships are.Remaining Performance Obligations have surged into the hundreds of billions, driven by large multi‑year Google Cloud contracts and AI hardware commitments, giving Alphabet far greater near‑ and multi‑year revenue visibility and justifying heavy CapEx. Management says just over half the Cloud backlog should convert to revenue in 24 months and most TPU system revenue will arrive in 2027, so investors should expect strong long‑term growth but delayed revenue recognition and continued near‑term margin and free‑cash‑flow pressure from infrastructure timing and third‑party capacity use.
Date | Remaining Performance Obligations |
|---|---|
Jun 30, 2026 | $519.50B |
Mar 31, 2026 | $467.60B |
Dec 31, 2025 | $242.80B |
Sep 30, 2025 | $157.70B |
Jun 30, 2025 | $108.20B |
Mar 31, 2025 | $92.40B |
Dec 31, 2024 | $93.20B |
Sep 30, 2024 | $86.80B |
Jun 30, 2024 | $78.80B |
Mar 31, 2024 | $72.50B |