Revenues
Disaggregation of revenues
The following table summarizes the components of our net revenues:
Year Ended
(In millions)April 3, 2026March 28, 2025March 29, 2024
Subscription and service revenue (1)
$4,982 $3,935 $3,800 
Net interest income on notes receivable
18 — — 
Net revenues
$5,000 $3,935 $3,800 
(1)    Subscription and service revenue includes amounts related to our Instacash Advances of $479 million in fiscal 2026. Refer to Note 3 for additional information regarding our Instacash Advances.
Contract liabilities
During fiscal 2026 and 2025, we recognized $1,820 million and $1,777 million of revenue, respectively, from the contract liabilities balance at the beginning of the respective fiscal years.
Remaining performance obligations
Remaining performance obligations represent contracted revenue that has not been recognized, which include contract liabilities and, when applicable, amounts that will be billed and recognized as revenue in future periods. As of April 3, 2026, we had $1,320 million of remaining performance obligations, excluding customer deposit liabilities of $657 million, of which we expect to recognize approximately 94% as revenue over the next 12 months.
See Note 1 for a description of our revenue recognition policy and Note 17 for tabular disclosures of disaggregated revenue by reportable segment and geographic region.

Historical Timeline

Fiscal YearFiled
2026May 21, 2026Showing above
2025May 15, 2025
2024May 16, 2024
2023May 25, 2023
2022May 20, 2022
2021May 21, 2021
2020May 28, 2020
2019May 24, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.