Adobe's Q1 FY2026 (reported March 2026) shows $6.4B revenue (+12% YoY) with AI-first ARR more than tripling year-over-year. Monthly active users hit 850M (+17% YoY), creative freemium MAU crossed 80M (+50% YoY), and Firefly Enterprise customer acquisition grew 50% YoY. Generative credits are functioning as workflow tokenization, with consumption expanding toward compute-heavy modalities (video, audio). In the context of Figma's agentic design push, Adobe's results prove the design category is expanding — AI is growing the pie rather than just redistributing it, at least for incumbents who move aggressively enough.