Did Microsoft's quarterly report for the quarter ended September 30, 2026 put the share of its remaining performance obligations expected to be recognized as revenue within the next twelve months at 30% or less?
Read the sentence in the 10-Q's revenue note that gives the percentage of revenue allocated to remaining performance obligations Microsoft expects to recognize over the next twelve months. The answer is yes if the share is 30% or less (the book keeps drifting outward); no if it is above 30% (the near book is catching up). The growth of the near and far portions against last year's 37% and 113% is DeepStack's reading into the Result, not the answer.
If the source is late or silent: If the 10-Q is not public on EDGAR by November 15, 2026, or states no twelve-month percentage, the test is inconclusive, and the Result says what was read and what was missing.
a side
Funded, not forecast
Demand is contracted, prepaid or oversubscribed, so the near term share should stay low as supply, not orders, is the limit.
If yes
Shipping is not earning
Even shipped revenue must clear ramps, pricing and collection, so the near term share is read as a signal, not a guarantee of profit.
50%
NoYes
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The case · 19 people · 2 minutes
Funded, not forecast0 people argue nounsided13Shipping is not earning6 people argue yes
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What would change the Call
The percentage Microsoft's 10-Q states for remaining performance obligations expected as revenue in the next twelve months decides this.
The Call · Part 11 · Shipping is not earning
The orders will ship. The profit comes later, and a margin that lags the ramp will be reported as a demand miss.
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The Part
The Backlog Is Not the Quarter
Ciena carries a $10 billion order book, Microsoft's far backlog grew three times as fast as its near one, and Nvidia now waits a year to be paid. The orders will ship. DeepStack expects the profit to arrive later, and the third-quarter reports to show the gap.