A designer with ten years of Photoshop files cannot switch to a competitor. Not because Photoshop is irreplaceable — but because the .PSD format is. Every layer, every effect, every asset saved in Adobe's proprietary formats is a brick in the wall. The creative industry standardised on Adobe tools so completely that job postings require Photoshop skills, not "image editing skills." The tool became the standard. The standard became the moat.
31,360
Employees
$144.94B
Market Cap (Non-Affiliates)
410.5M
Shares Outstanding
9.9%
Attrition Rate
78%
Employee Engagement Survey Participation
10-K · Jan. 15, 2026