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Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Tax losses and research and development tax credits	$ 522.0	$ 549.0
Share-based compensation	58.0	41.0
Lease liabilities	28.0	25.0
Fixed assets	25.0	21.0
Other	28.0	38.0
Total gross deferred tax assets	661.0	674.0
Less: Valuation allowance	(11.3)	(26.4)
Total deferred tax assets, net of valuation allowance	650.0	648.0
Deferred income	(213.0)	(206.0)
Outside basis differences	(44.0)	(52.0)
Right-of-use assets	(23.0)	(23.0)
Acquired intangibles	(6.0)	(6.0)
Other	(28.0)	(1.0)
Total deferred tax liabilities	(314.0)	(288.0)
Net deferred tax assets (liabilities)	$ 336.0	$ 360.0

Leases - Schedule Of Balance Sheet Supplemental Disclosures (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Operating leases
Operating lease right-of-use assets	$ 379	$ 320
Operating lease liabilities	39	30
Non-current portion of operating lease liabilities	393	316
Total operating lease liabilities	432	346
Finance leases
Finance lease right-of-use assets, net	69	40
Other current liabilities	25	10
Other non-current liabilities	$ 34	$ 15
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total finance lease liabilities	$ 59	$ 25
Weighted Average Remaining Lease Term (in years)
Operating leases	12 years 18 days	13 years 9 months 3 days
Finance leases	2 years 10 months 2 days	3 years 4 months 20 days
Weighted Average Discount Rate
Operating leases	4.32%	4.23%
Finance leases	5.07%	5.43%

Subsequent Events (Details) - USD ($) $ in Millions	1 Months Ended
Subsequent Events (Details) - USD ($) $ in Millions	Apr. 30, 2026	Apr. 01, 2026	Mar. 31, 2026
Subsequent Event [Line Items]
Purchase commitment			$ 1,056.5
Subsequent Event
Subsequent Event [Line Items]
Purchase commitment	$ 305.0
Raspberry Pi Holdings plc’s \| Subsequent Event
Subsequent Event [Line Items]
Purchased an additional ordinary shares amount	$ 67.9
Omnibus Incentive Plan \| Subsequent Event
Subsequent Event [Line Items]
Common stock, capital shares reserved for future issuance, increase (in shares)		13,821,271

Net Income (Loss) Per Share (Tables)

12 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents a reconciliation of basic and diluted earnings per share computations for the periods presented:


	Fiscal Year Ended March 31,
(in millions, except per share amounts)	2026		2025		2024
Numerator:
Income (loss) attributable to ordinary shareholders — basic and diluted
Net income (loss)	$	904	$	792	$	306
Denominator:
Weighted average ordinary shares used to calculate income (loss) per share — basic (1)	1,061		1,050		1,027
Equity-classified share-based awards	7		13		17
Weighted average ordinary shares used to calculate income (loss) per share — diluted	1,068		1,063		1,044
Income (loss) per share attributable to ordinary shareholders — basic
Net income (loss) per ordinary share - basic	$	0.85	$	0.75	$	0.30
Income (loss) per share attributable to ordinary shareholders — diluted
Net income (loss) per ordinary share - diluted	$	0.85	$	0.75	$	0.29
Securities excluded from diluted net income (loss) per ordinary share because their effect would have been anti-dilutive:
Restricted share units	2		—		—
Employee Stock Purchase Plan	1		—		—
Total	3		—		—

(1) For the fiscal year ended March 31, 2025, includes weighted average ordinary shares for vested securities without restrictions that were not issued and outstanding as of the end of the reporting period.

Income Taxes - Schedule of Cash Paid for Income Taxes, Net of Refunds (Details) $ in Millions	12 Months Ended
	Mar. 31, 2026 USD ($)
Income Tax Paid, by Individual Jurisdiction [Line Items]
United Kingdom	$ 0
Total cash paid for income taxes	223
China
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	81
Taiwan
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	51
South Korea
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	30
United States
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	17
Singapore
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	18
India
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	12
Other foreign jurisdictions
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign	$ 14

Share-based Compensation - Schedule of Assumptions used to Estimate Fair Value (Details) - Employee Stock	12 Months Ended
	Mar. 31, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected holding period (in years)	6 months
Dividend yield	0.00%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk free interest rate	3.79%
Expected stock price volatility	55.00%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk free interest rate	4.01%
Expected stock price volatility	60.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Cash flows provided by (used for) operating activities:
Net income (loss)	$ 904	$ 792	$ 306
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	249	183	162
Deferred income taxes	15	(218)	(273)
(Income) loss from equity investments, net	(14)	237	20
Share-based compensation cost	1,052	820	1,037
Operating lease expense	59	40	35
Gain on business divestiture	(131)	0	0
Other non-cash operating activities, net	(8)	8	(2)
Changes in assets and liabilities:
Accounts receivable, net (including receivables from related parties)	(201)	(331)	218
Contract assets, net (including contract assets from related parties)	(309)	(412)	(307)
Prepaid expenses and other assets	(117)	(140)	(61)
Accrued compensation and benefits	24	(152)	(292)
Contract liabilities (including contract liabilities from related parties)	135	(4)	(190)
Tax liabilities	(11)	(6)	(30)
Operating lease liabilities	(44)	(39)	(28)
Other liabilities (including payables to related parties)	(79)	(381)	495
Net cash provided by (used for) operating activities	1,524	397	1,090
Cash flows provided by (used for) investing activities
Purchases of short-term investments	(1,140)	(680)	(765)
Proceeds from maturity of short-term investments	1,030	940	425
Purchases of equity investments	(11)	(57)	(32)
Purchases of intangible assets	(30)	(20)	(51)
Proceeds from business divestiture	127	0	0
Proceeds from settlement of loans, including convertible loans	56	0	0
Proceeds from sale or liquidation of equity investments	205	0	0
Purchases of property and equipment	(545)	(219)	(92)
Other investing activities, net, including investments in convertible loans	(17)	1	(1)
Net cash provided by (used for) investing activities	(325)	(35)	(516)
Cash flows provided by (used for) financing activities
Payments of intangible asset obligations	(67)	(59)	(40)
Proceeds from Employee Stock Purchase Plan	74	0	0
Other financing activities, net	(26)	(23)	(10)
Payments of withholding tax on vested shares	(529)	(120)	(158)
Net cash provided by (used for) financing activities	(548)	(202)	(208)
Effect of foreign exchange rate changes on cash and cash equivalents	15	2	3
Net increase (decrease) in cash and cash equivalents	666	162	369
Cash and cash equivalents at the beginning of the period	2,085	1,923	1,554
Cash and cash equivalents at the end of the period	2,751	2,085	1,923
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds	(223)	(149)	(187)
Non-cash investing and financing activities:
Non-cash additions in property and equipment	29	27	2
Non-cash additions in finance lease right-of-use assets	56	33	13
Non-cash additions in intangible assets	131	51	53
Non-cash additions in operating lease right-of-use assets	98	146	27
Non-cash additions in operating lease liabilities	107	149	27
Non-cash additions to equity investments from conversion of certain receivables	8	5	9
Non-cash distributions to shareholders	0	0	12
Non-cash withholding tax on vested shares	64	8	55
Non-cash reclassification of share-based compensation costs	$ 0	$ 0	$ 343

Consolidated Statements of Shareholders' Equity (Parentheticals) $ in Millions	12 Months Ended
	Mar. 31, 2024 USD ($)
Share-based compensation cost	$ 825
Restricted Stock Units, Liability-Classified
Share-based compensation cost	$ 212

Derivatives - Schedule of Derivative Instruments (Details) € in Millions, £ in Millions, $ in Millions	Mar. 31, 2026 USD ($)	Mar. 31, 2026 GBP (£)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 GBP (£)	Mar. 31, 2025 EUR (€)
Designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount \| £		£ 405.0		£ 335.0
Designated as cash flow hedges \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount \| $	$ 544.0		$ 428.0
Non-designated hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 0.0		$ 5.0		€ 5.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Related Party Transactions (Details) - USD ($) $ in Millions	1 Months Ended			12 Months Ended
	Dec. 31, 2025	Oct. 31, 2025	Feb. 28, 2023	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Revenue				$ 4,920.0	$ 4,007.0	$ 3,233.0
Operating expenses				3,899.0	3,055.0	2,968.0
Accounts receivable, net				1,300.0	1,107.0
Other current liabilities				447.0	426.0
Contract liabilities current				294.0	209.0
Contract liabilities noncurrent				752.0	702.0
Additional (reversal of) provision				11.0	17.0	0.0
Accounts receivable, allowance				31.0	20.0	3.0	$ 3.0
Proceeds from equity method investments				59.9	8.2	6.9
Prepaid expenses and other current assets				358.0	256.0
Proceeds from settlement of loans, including convertible loans				56.0	0.0	0.0
Ampere \| Convertible loans receivable
Related Party Transaction [Line Items]
Proceeds from settlement of loans, including convertible loans	$ 39.3
Ampere \| Loans receivable
Related Party Transaction [Line Items]
Convertible debt, noncurrent					33.8
Arduino
Related Party Transaction [Line Items]
Loan receivable, noncurrent					16.6
Related Party
Related Party Transaction [Line Items]
Revenue				1,499.0	823.0	724.0
Operating lease, lease income, lease payments				1.0	1.2	1.7
Accounts receivable, net				270.0	279.0
Other current liabilities				20.0	11.0
Contract liabilities current				36.0	81.0
Contract liabilities noncurrent				23.0	24.0
Ampere \| Convertible loans receivable
Related Party Transaction [Line Items]
Proceeds from settlement of loans, including convertible loans	$ 39.3
Arduino
Related Party Transaction [Line Items]
Proceeds from settlement of loans, including convertible loans		$ 16.9
Loan receivable, credit loss reversal				16.8
Loans receivable, noncurrent					16.6
Cerfe Labs, Inc. \| Loans receivable
Related Party Transaction [Line Items]
Loans receivable, noncurrent				3.2	3.2
IP Licensing Revenue \| Related Party
Related Party Transaction [Line Items]
Revenue				790.6	670.4	670.8
Net receivable				276.2	284.6
Accounts receivable, before allowance for credit loss, current				296.5	294.5
Other current liabilities				20.3	9.9
Contract liabilities current				30.3	80.2
Contract liabilities noncurrent				23.3	24.0
Additional (reversal of) provision				12.3	16.0	0.0
Accounts receivable, allowance				28.3	16.0
Service Share Arrangement \| Related Party
Related Party Transaction [Line Items]
Operating expenses				63.3	59.4	74.1
Contract termination costs				0.0	0.0	5.5
Common Control in SoftBank \| Related Party
Related Party Transaction [Line Items]
Revenue				704.4	145.5
Contract assets				645.8	145.5
Common Control in SoftBank \| Related Party \| Ampere
Related Party Transaction [Line Items]
Revenue				3.6	3.5	49.3
Other Equity Investments \| Related Party
Related Party Transaction [Line Items]
Accounts receivable, net				0.5	0.7
Contract liabilities current				5.4	0.7
Contract assets				0.5	6.3
Other Entities Controlled By SoftBank Group \| Related Party
Related Party Transaction [Line Items]
Revenue				0.0	0.0	4.4
Accounts receivable, net				0.0	0.0
Contract liabilities current				0.0	0.0
Contract assets				0.0	0.0
Linaro Agreement \| Related Party
Related Party Transaction [Line Items]
Other current liabilities					0.7
Subscription costs incurred				$ 6.1	10.4	$ 10.6
Amounts of transaction			$ 4.0
Related party transaction, term			5 years
Prepaid expenses and other current assets					$ 2.4
Acetone Limited
Related Party Transaction [Line Items]
Ownership percentage								10.00%
Arm China \| Acetone Limited
Related Party Transaction [Line Items]
Ownership percentage								48.20%

Goodwill (Details) - USD ($)	12 Months Ended
Goodwill (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,623,200,000	$ 1,620,000,000
Goodwill impairment	$ 0	$ 0	$ 0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Leases - Narrative (Details)	12 Months Ended
Leases - Narrative (Details)	Mar. 31, 2026 USD ($) lease	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)
Leases [Abstract]
Gains (loss) on early termination of operating leases	$ 0	$ 0	$ 0
Number of leases signed but not yet commenced \| lease	7
Approximate lease value	$ 76,000,000.0

Fair Value - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2021
Financial assets
Short-term investments	$ 850,000,000	$ 740,000,000
Equity investments	148,000,000	300,000,000
Convertible loans receivable	0		$ 29,000,000.0
Financial liabilities
Foreign currency forward contracts	10,000,000	2,000,000
Total financial liabilities	10,000,000	2,000,000
Fair Value, Inputs, Level 1, Level 2, and Level 3
Financial assets
Money market funds	2,456,000,000	1,914,000,000
Short-term investments	850,000,000	740,000,000
Equity investments	153,000,000	298,000,000
Available-for-sale debt securities	13,000,000	0
Convertible loans receivable	0	34,000,000
Foreign currency forward contracts	0	7,000,000
Total financial assets	3,472,000,000	2,993,000,000
Level 1
Financial assets
Money market funds	2,456,000,000	1,914,000,000
Short-term investments	850,000,000	740,000,000
Equity investments	96,000,000	98,000,000
Available-for-sale debt securities	0	0
Convertible loans receivable	0	0
Foreign currency forward contracts	0	0
Total financial assets	3,402,000,000	2,752,000,000
Financial liabilities
Foreign currency forward contracts	0	0
Total financial liabilities	0	0
Level 2
Financial assets
Money market funds	0	0
Short-term investments	0	0
Equity investments	0	0
Available-for-sale debt securities	0	0
Convertible loans receivable	0	0
Foreign currency forward contracts	0	7,000,000
Total financial assets	0	7,000,000
Financial liabilities
Foreign currency forward contracts	10,000,000	2,000,000
Total financial liabilities	10,000,000	2,000,000
Level 3
Financial assets
Money market funds	0	0
Short-term investments	0	0
Equity investments	57,000,000	200,000,000
Available-for-sale debt securities	13,000,000	0
Convertible loans receivable	0	34,000,000
Foreign currency forward contracts	0	0
Total financial assets	70,000,000	234,000,000
Financial liabilities
Foreign currency forward contracts	0	0
Total financial liabilities	$ 0	$ 0

Equity Investments - Schedule of Income (Loss) from Equity Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Equity investments in publicly listed companies	$ (6)	$ 43	$ 0
Equity method investments	(5)	(274)	(17)
Non-marketable equity securities (includes NAV)	25	(6)	(3)
Total income (loss) from equity investments, net	$ 14	$ (237)	$ (20)

- Definition

Amount of income (loss) for proportionate share of equity method investee's income (loss).

+ References + Details

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Income Tax Examination [Line Items]
Valuation allowance	$ 11.3	$ 26.4
Net deferred tax assets decreased amount	15.1
Unrecognized tax benefits that would impact effective tax rate	171.8	76.0	$ 71.9
Income tax, (benefit) expense, accrued interest	2.8	(13.8)	1.8
Unrecognized tax benefits, income tax penalties and interest accrued	4.4	$ 1.6	$ 15.5
Trading Loss Credit Carryforward
Income Tax Examination [Line Items]
Deferred tax asset, operating loss carryforward	338.9
Research Tax Credit Carryforward
Income Tax Examination [Line Items]
Deferred tax asset, operating loss carryforward	120.7
Foreign Tax Jurisdiction
Income Tax Examination [Line Items]
Tax loss carryforward	420.0
Foreign Tax Jurisdiction \| Research Tax Credit Carryforward
Income Tax Examination [Line Items]
Tax credit carryforward	257.1
Foreign Tax Jurisdiction \| Tax Credit Carryforward With No Expiration
Income Tax Examination [Line Items]
Tax loss carryforward	414.1
Foreign Tax Jurisdiction \| Tac Credit Carryforward With Expiration
Income Tax Examination [Line Items]
Tax loss carryforward	5.9
State and Local Jurisdiction
Income Tax Examination [Line Items]
Deferred tax assets, operating loss carryforwards, U.S.	301.8
State and Local Jurisdiction \| Research Tax Credit Carryforward
Income Tax Examination [Line Items]
Tax credit carryforward	145.7
State and Local Jurisdiction \| Tax Credit Carryforward With No Expiration
Income Tax Examination [Line Items]
Tax credit carryforward	39.1
State and Local Jurisdiction \| Tac Credit Carryforward With Expiration
Income Tax Examination [Line Items]
Tax credit carryforward	$ 106.6

Segment and Geographic Information (Tables)

12 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents selected financial information with respect to the Company's single operating segment for the fiscal years ended March 31, 2026, 2025 and 2024:


	Fiscal Year Ended March 31,
(in millions)	2026			2025			2024
License and Other Revenue	$	2,307		$	1,839		$	1,431
Royalty Revenue	2,613			2,168			1,802
	4,920			4,007			3,233
Less Operating Costs and Expenses:
Staff costs: Salaries, bonuses and benefits	(1,674)			(1,320)			(1,300)
Staff costs: Share-based compensation cost (equity settled)	(1,052)			(820)			(1,037)
Staff costs: Employer taxes related to share-based compensation	(160)			(224)			(176)
Non-staff costs:
Project materials costs, third-party fees paid to consultants, information technology, research and development expenses (excluding employee-related expenses), accounting and legal professional services fees, advertising expenses, and other corporate-related expenses	(881)			(634)			(367)
Amortization	(100)			(87)			(86)
Depreciation	(150)			(96)			(76)
Other non-staff costs	(3)			5			(80)
Operating income (loss)	900			831			111
Operating margin	18		%	21		%	3		%
Income (loss) from equity investments, net	14			(237)			(20)
Interest income, net	111			116			110
Other non-operating income (loss), net	132			10			11
Income (loss) from continuing operations before income taxes	1,157			720			212
Income tax benefit (expense)	(253)			72			94
Net income (loss)	$	904		$	792		$	306

Schedule of Long-Lived Assets by Geographic Area

Long-lived assets by geographic area are as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
United Kingdom	$	628	$	444
United States	438		197
Other countries	154		73
Total	$	1,220	$	714

Acquisitions and Divestitures	12 Months Ended
Acquisitions and Divestitures	Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]
Acquisitions and Divestitures	5 - Acquisitions and Divestitures Divestitures On August 26, 2025, the Company completed the sale of its Artisan foundation IP business, consisting of standard cell libraries, memory compilers, and general-purpose I/Os to Cadence Design Systems, Inc. (“Cadence”) pursuant to the terms of the definitive agreement entered into in April 2025. For the fiscal year ended March 31, 2026, the Company recognized pre-tax gain on business divestiture of $131.0 million in other non-operating income (loss), net in the Consolidated Income Statements. This transaction did not meet the criteria for presentation as discontinued operations as it does not represent a strategic shift that has a major effect on the Company's operations or financial results. In connection with the sale, the Company entered into a transition services agreement pursuant to which the Company and Cadence are providing certain transition support services to each other for a period of up to 18 months following completion of the sale. The estimated amounts of the transition services are not expected to be material. Acquisitions In October 2025, the Company entered into a definitive agreement to acquire all of the outstanding equity interests of DreamBig Semiconductor, Inc. (“DreamBig”) for approximately $265.0 million in cash, subject to purchase price adjustments. The addition of DreamBig’s advanced networking capabilities, technology, and engineering expertise is expected to enhance the Company’s portfolio and help it deliver more complete solutions. The transaction is expected to close by the end of the second quarter of the fiscal year ending March 31, 2027, subject to customary closing conditions, including the receipt of regulatory approvals.
Acquisitions and Divestitures	5 - Acquisitions and Divestitures Divestitures On August 26, 2025, the Company completed the sale of its Artisan foundation IP business, consisting of standard cell libraries, memory compilers, and general-purpose I/Os to Cadence Design Systems, Inc. (“Cadence”) pursuant to the terms of the definitive agreement entered into in April 2025. For the fiscal year ended March 31, 2026, the Company recognized pre-tax gain on business divestiture of $131.0 million in other non-operating income (loss), net in the Consolidated Income Statements. This transaction did not meet the criteria for presentation as discontinued operations as it does not represent a strategic shift that has a major effect on the Company's operations or financial results. In connection with the sale, the Company entered into a transition services agreement pursuant to which the Company and Cadence are providing certain transition support services to each other for a period of up to 18 months following completion of the sale. The estimated amounts of the transition services are not expected to be material. Acquisitions In October 2025, the Company entered into a definitive agreement to acquire all of the outstanding equity interests of DreamBig Semiconductor, Inc. (“DreamBig”) for approximately $265.0 million in cash, subject to purchase price adjustments. The addition of DreamBig’s advanced networking capabilities, technology, and engineering expertise is expected to enhance the Company’s portfolio and help it deliver more complete solutions. The transaction is expected to close by the end of the second quarter of the fiscal year ending March 31, 2027, subject to customary closing conditions, including the receipt of regulatory approvals.

- Definition

The entire disclosure for business combination.

+ References

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+ Details

Income Taxes

12 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Income Taxes

16 - Income Taxes

The components of income before provision for income taxes are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
United Kingdom	$	828	$	526	$	139
Foreign	329		194		73
Income before provision for income taxes	$	1,157	$	720	$	212

The benefit (expense) for income taxes consists of the following:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Current:
United Kingdom	$	—	$	(1)	$	2
Foreign	(238)		(145)		(178)
Total current tax benefit (expense)	$	(238)	$	(146)	$	(176)
Deferred:
United Kingdom	$	27	$	97	$	114
Foreign	(42)		121		156
Total deferred tax benefit (expense)	$	(15)	$	218	$	270
Total income tax benefit (expense)	$	(253)	$	72	$	94

A reconciliation of the United Kingdom statutory income tax rate to our effective tax rate after the prospective adoption of ASU 2023-09 is as follows:


	Fiscal Year Ended March 31,
	2026
(in millions, except percentages)	Amount		Percent
United Kingdom statutory income tax rate	$	(289)	25.0	%
Foreign tax effects
United States

State and local income taxes, net of federal income tax effect	30		(2.6)	%
Research and development tax credits	35		(3.0)	%
Share-based compensation	25		(2.2)	%
Withholding tax	(15)		1.3	%
Other	3		(0.3)	%
China
Withholding tax	(81)		7.0	%

Singapore
Withholding tax	(18)		1.6	%
South Korea

Withholding tax	(30)		2.6	%

Taiwan
Withholding tax	(51)		4.4	%




Other foreign jurisdictions	(33)		2.9	%
Tax credits
Research and development tax credits	25		(2.2)	%
Foreign tax credit	62		(5.4)	%
Nontaxable or nondeductible items
Share-based compensation	34		(2.9)	%
Foreign tax deduction	36		(3.1)	%
Other	(6)		0.5	%
Changes in unrecognized tax benefits	(66)		5.7	%
Other Adjustments
Patent box benefit	86		(7.4)	%

Income tax benefit (expense)	$	(253)	21.9	%

A reconciliation of the tax benefit (expense) at the United Kingdom statutory income tax rate to the actual tax benefit (expense) prior to the adoption of ASU 2023-09 is as follows:


	Fiscal Year Ended March 31,
(in millions)	2025		2024
Income tax benefit (expense) at statutory rate	$	(180)	$	(53)
Foreign tax rate differential	(10)		(14)
Research and development tax credits	85		94
Change in valuation allowance	—		(4)
Non-deductible/non-taxable items	(10)		(3)
Patent box benefit	38		(4)
Contingency reserve	19		—
Impact of U.K. rate change	(22)		(3)
Withholding tax	(97)		(122)
Gains exempt from U.K. tax	(2)		(3)
Windfall tax benefit associated with share-based compensation	251		206
Income tax benefit (expense)	$	72	$	94

The significant components of deferred tax assets and liabilities are as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Tax losses and research and development tax credits	$	522	$	549
Share-based compensation	58		41
Lease liabilities	28		25
Fixed assets	25		21
Other	28		38
Total gross deferred tax assets	661		674
Less: Valuation allowance	(11)		(26)
Total deferred tax assets, net of valuation allowance	650		648
Deferred income	(213)		(206)
Outside basis differences	(44)		(52)
Right-of-use assets	(23)		(23)
Acquired intangibles	(6)		(6)
Other	(28)		(1)
Total deferred tax liabilities	(314)		(288)
Net deferred tax assets (liabilities)	336		360

As of March 31, 2026, the valuation allowance was $11.3 million, mostly related to certain U.K. tax loss carryforwards. As of March 31, 2025, the valuation allowance was $26.4 million, mostly related to certain U.K. tax losses and certain state research and development tax credit carryforwards. During the fiscal year ended March 31, 2026, the valuation allowance on our net deferred tax assets decreased by $15.1 million.

As of March 31, 2026, the Company’s U.K. trading loss and R&D expenditure credit carryforwards were $338.9 million and $120.7 million, respectively. These have no expiration date. The Company also has U.S. federal net operating loss carryforwards of $420.0 million, of which $414.1 million has no expiration date and $5.9 million will expire between fiscal years 2034 and 2037. The Company also has state net operating loss carryforwards of $301.8 million, which will expire at various dates through fiscal year 2047. The Company also has U.S. federal research and development tax credit carryforwards of approximately $257.1 million, which will expire between fiscal years 2034 and 2046. In addition, the

Company has state research and development tax credit carryforwards of approximately $145.7 million, of which $39.1 million has no expiration date and $106.6 million will expire between fiscal years 2033 and 2046.

Utilization of the U.S. federal net operating loss and research and development tax credit carryforwards may be subject to annual limitations due to the ownership change limitations provided by the U.S. Internal Revenue Code of 1986, as amended, and similar state provisions. Such annual limitations could result in the expiration of the net operating loss and tax credit carryforwards before their utilization. The events that may cause ownership changes include, but are not limited to, a cumulative stock ownership change of greater than 50% over a three-year period.

The following table reflects changes in gross unrecognized tax benefits:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Gross unrecognized tax benefits—April 1	$	101	$	83	$	62
Gross increases—tax positions in prior period	88		—		5
Gross decreases—tax positions in prior period	(12)		(11)		(1)
Gross increases—tax positions in current period	23		31		19
Settlements	—		(2)		—
Lapse of statute of limitations	—		—		(1)
Foreign exchange	—		—		(1)
Gross unrecognized tax benefits— March 31	$	200	$	101	$	83

Included in the balance of unrecognized tax benefits as of March 31, 2026, 2025 and 2024, are $171.8 million, $76.0 million and $71.9 million, respectively, of tax benefits that, if recognized, would affect the effective tax rate.

The Company recognizes interest accrued related to unrecognized tax benefits and penalties as income tax expense. The Company recognized (benefit) expense of $2.8 million, $(13.8) million and $1.8 million for interest and penalties associated with income tax liabilities as of March 31, 2026, 2025 and 2024, respectively. As of March 31, 2026, 2025 and 2024, the Company had total accrued interest and penalties of $4.4 million, $1.6 million and $15.5 million, respectively, which is included in other non-current liabilities on the Consolidated Balance Sheets.

While the Company believes it has adequately provided for all tax positions, amounts asserted by tax authorities could be greater or less than the position. Accordingly, provisions on federal, state and foreign tax-related matters to be recorded in the future may change as revised estimates are made or the underlying matters are settled or otherwise resolved. As of March 31, 2026, the Company has not identified any positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next twelve months.

The Company is subject to taxation in the United Kingdom and various foreign jurisdictions. As of March 31, 2026, our U.K. tax returns for fiscal year 2019 and all subsequent years remain subject to examination. Our U.S. Federal tax returns remain subject to examination for the calendar year 2003 and most subsequent years.

Cash paid for income taxes (net of refunds received) by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the fiscal year ended March 31, 2026 is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026
United Kingdom	$	—
Foreign
China	81
Taiwan	51
South Korea	30
United States	17
Singapore	18
India	12
Other	14
Total cash paid for income taxes	$	223

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment and Geographic Information

12 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment and Geographic Information

21 - Segment and Geographic Information

The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM regularly reviews income and expense items at the consolidated company (reporting segment) level and uses both operating income and net income to evaluate income generated to conclude whether and how to reinvest profits into the entity’s operations, shareholder return, acquisitions or otherwise. Both operating income and net income are also used to monitor budget versus actual results, forecasted information and in competitive analysis.

The following table presents selected financial information with respect to the Company's single operating segment for the fiscal years ended March 31, 2026, 2025 and 2024:


	Fiscal Year Ended March 31,
(in millions)	2026			2025			2024
License and Other Revenue	$	2,307		$	1,839		$	1,431
Royalty Revenue	2,613			2,168			1,802
	4,920			4,007			3,233
Less Operating Costs and Expenses:
Staff costs: Salaries, bonuses and benefits	(1,674)			(1,320)			(1,300)
Staff costs: Share-based compensation cost (equity settled)	(1,052)			(820)			(1,037)
Staff costs: Employer taxes related to share-based compensation	(160)			(224)			(176)
Non-staff costs:
Project materials costs, third-party fees paid to consultants, information technology, research and development expenses (excluding employee-related expenses), accounting and legal professional services fees, advertising expenses, and other corporate-related expenses	(881)			(634)			(367)
Amortization	(100)			(87)			(86)
Depreciation	(150)			(96)			(76)
Other non-staff costs	(3)			5			(80)
Operating income (loss)	900			831			111
Operating margin	18		%	21		%	3		%
Income (loss) from equity investments, net	14			(237)			(20)
Interest income, net	111			116			110
Other non-operating income (loss), net	132			10			11
Income (loss) from continuing operations before income taxes	1,157			720			212
Income tax benefit (expense)	(253)			72			94
Net income (loss)	$	904		$	792		$	306

Refer to Note 4 - Revenue for revenue by geographic region.

Long-lived assets by geographic area are as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
United Kingdom	$	628	$	444
United States	438		197
Other countries	154		73
Total	$	1,220	$	714

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 14: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Derivatives (Tables)

12 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table presents the notional amounts of the Company’s outstanding derivative instruments:


	As of
(in millions)	March 31, 2026		March 31, 2025
Designated as cash flow hedges
Foreign currency forward contracts	$	544	$	428
Non-designated hedges
Foreign currency forward contracts	$	—	$	5

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair value of the Company’s outstanding derivative instruments:


	Derivative Assets				Derivative Liabilities
	As of March 31,				As of March 31,
(in millions)	2026		2025		2026		2025
Designated as cash flow hedges
Foreign currency forward contracts	$	—	$	7	$	10	$	2

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table presents net gains (losses) on foreign currency forward contracts designated as cash flow hedges:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Consolidated Statements of Comprehensive Income:
Change in gains (losses) recognized in accumulated other comprehensive income (loss) on cash flow hedge derivatives	$	8	$	9	$	8
(Gains) losses reclassified from accumulated other comprehensive income (loss) into income	(22)		(4)		(18)
Income tax benefit (expense) on cash flow hedges	4		(2)		2
Net change in fair value of the effective portion of designated cash flow hedges, net of tax (1)	$	(10)	$	3	$	(8)
Consolidated Income Statements, before tax:
Research and development	$	14	$	2	$	10
Selling, general and administrative expenses	$	8	$	2	$	8

(1) All amounts reported in accumulated other comprehensive income at the reporting date are expected to be reclassified into earnings within the next 12 months.

Schedule of Non-designated Hedging Instrument Gains (Losses)

The following table presents net gains (losses) on derivatives not designated as hedging instruments recorded in other non-operating income (loss), net in the Consolidated Income Statements:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Foreign currency forward contracts	$	—	$	—	$	(1)

Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Finite-Lived Intangible Assets

The estimated useful lives of the Company’s intangible assets are as follows:


Patents and licenses			3 – 11 years
Internal-use software			3 – 5 years
Developed technology			1 – 8 years
Customer relationships			1 – 6 years

Information related to intangible assets is as follows:


	As of March 31,
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Value				Weighted Average Remaining Life
(in millions except for years)	2026		2025		2026		2025		2026		2025		2026	2025
Patents & licenses	$	45	$	146	$	23	$	117	$	22	$	29	4.3	5.0
Developed technology	104		139		104		139		—		—		—	—

Internal-use software	450		356		255		234		195		122		2.9	2.1
Intangible assets subject to amortization	599		641		382		490		217		151
Intangible assets under development	13		—		—		—		13		—		—	—
Total intangible assets	$	612	$	641	$	382	$	490	$	230	$	151

Information regarding amortization expense for intangible assets is as follows:


	Fiscal Years Ended March 31,
(in millions)	2026		2025		2024
Cost of sales	$	2	$	2	$	6
Research and development	79		64		57
Selling, general and administrative	18		21		23
Total amortization expense	$	99	$	87	$	86

Schedule of Property and Equipment Useful Lives

Estimated useful lives of the Company’s property and equipment are as follows:



Leasehold improvements			Shorter of 5 – 10 years or the remaining lease term
Equipment			3 – 7 years
Fixtures and vehicles			3 – 5 years

Information regarding property and equipment, net is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025

Leasehold improvements	$	218	$	167
Equipment	914		545
Fixtures and vehicles	63		47
Construction in progress	129		41
Total property and equipment, gross	1,324		800
Less: Accumulated depreciation	(552)		(446)
Total property and equipment, net	$	772	$	354

Leases (Tables)

12 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Lease Expense Components

Lease expense components are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Operating lease cost	$	59	$	39	$	34

Finance lease cost:
Amortization of right-of-use assets	$	27	$	13	$	5
Interest on lease liabilities	3		1		—
Total finance lease cost	$	30	$	14	$	5

Schedule of Cash Flow, Supplemental Disclosures

Supplemental disclosures of cash flow information related to leases are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	(44)	$	(37)	$	(35)
Operating cash flows used for finance leases	$	3	$	1	$	—
Financing cash flows used for finance leases	$	(26)	$	(23)	$	(10)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	98	$	146	$	28
Finance leases	$	56	$	33	$	21

Cash paid for income taxes (net of refunds received) by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the fiscal year ended March 31, 2026 is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026
United Kingdom	$	—
Foreign
China	81
Taiwan	51
South Korea	30
United States	17
Singapore	18
India	12
Other	14
Total cash paid for income taxes	$	223

Schedule Of Balance Sheet Supplemental Disclosures

Supplemental balance sheet information related to leases are as follows:


	As of
(in millions, except lease term and discount rate)	March 31, 2026			March 31, 2025
Operating leases
Operating lease right-of-use assets	$	379		$	320

Operating lease liabilities	$	39		$	30
Non-current portion of operating lease liabilities	$	393		$	316
Total operating lease liabilities	$	432		$	346

Finance leases
Finance lease right-of-use assets, net	$	69		$	40

Other current liabilities	$	25		$	10
Other non-current liabilities	$	34		$	15
Total finance lease liabilities	$	59		$	25

Weighted Average Remaining Lease Term (in years)
Operating leases	12.05			13.76
Finance leases	2.84			3.39

Weighted Average Discount Rate
Operating leases	4.32		%	4.23		%
Finance leases	5.07		%	5.43		%

Schedule of Operating Lease Liability Maturity

Maturity of lease liabilities as of March 31, 2026 is as follows (in millions):


Fiscal Year	Operating Leases		Finance Leases
2027	$	50	$	26
2028	56		21
2029	57		15
2030	52		—
2031	48		—
Thereafter	286		—
Total lease payments	549		62
Less imputed interest	(117)		(3)
Total	$	432	$	59
Less: current portion of lease liabilities	(39)		(25)
Non-current portion of lease liabilities	$	393	$	34

Schedule of Operating Lease Liability Maturity

Maturity of lease liabilities as of March 31, 2026 is as follows (in millions):


Fiscal Year	Operating Leases		Finance Leases
2027	$	50	$	26
2028	56		21
2029	57		15
2030	52		—
2031	48		—
Thereafter	286		—
Total lease payments	549		62
Less imputed interest	(117)		(3)
Total	$	432	$	59
Less: current portion of lease liabilities	(39)		(25)
Non-current portion of lease liabilities	$	393	$	34

Revenue (Tables)

12 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

A summary of the Company’s disaggregated revenue is as follows:


	Fiscal Year Ended March 31,
	External Customers						Related Parties						Total
(in millions)	2026		2025		2024		2026		2025		2024		2026		2025		2024
License and Other Revenue (1)	$	1,298	$	1,421	$	1,051	$	1,009	$	418	$	380	$	2,307	$	1,839	$	1,431
Royalty Revenue	2,123		1,763		1,458		490		405		344		2,613		2,168		1,802
	$	3,421	$	3,184	$	2,509	$	1,499	$	823	$	724	$	4,920	$	4,007	$	3,233

(1) Includes over-time revenue of $1,080 million, $467 million and $121 million and point-in-time revenue of $1,227 million, $1,372 million and $1,310 million for the fiscal years ended March 31, 2026, 2025 and 2024, respectively.

Schedule of Revenue from External Customers by Geographic Areas

The following table summarizes information pertaining to revenue from customers based on the principal headquarters address by geographic regions:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
United States	$	1,761	$	1,716	$	1,413
PRC (1)	874		749		697
Japan	825		296		121
Taiwan	695		629		522
Republic of Korea	392		324		308
Other countries	373		293		172
Total	$	4,920	$	4,007	$	3,233

(1) “PRC” means the People’s Republic of China, including the Hong Kong Special Administrative Region and the Macau Special Administrative Region, but excluding Taiwan.

Schedule of Accounts Receivable

A summary of the components of accounts receivable, net is as follows:


	As of
(in millions)	March 31, 2026	March 31, 2025


Accounts receivable	1,331	1,127
Allowance for current expected credit losses	(31)	(20)
Total accounts receivable, net	1,300	1,107

Schedule of Allowance for Credit Losses

A summary of the movement in the allowance for current expected credit losses is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Beginning balance	$	20	$	3	$	3
Additional (reversal of) provision	11		17		—


Ending balance	$	31	$	20	$	3

Schedule of Reconciliation of Contract Liabilities

A reconciliation of the movement in contract liabilities is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Beginning balance April 1,	$	911	$	915
Customer prepayment and billing in advance of performance	581		371
Revenue recognized in the period that was included in the contract liability balance at the beginning of the period	(149)		(131)
Revenue recognized in the period that was included in the contract liability balance during the period	(297)		(244)

Ending balance	$	1,046	$	911

Net Income (Loss) Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Net income (loss)	$ 904	$ 792	$ 306
Weighted average ordinary shares used to calculate basic net income (loss) per share (in shares)	1,061	1,050	1,027
Equity-classified share-based awards (in shares)	7	13	17
Weighted average ordinary shares used to calculate diluted net income (loss) per share (in shares)	1,068	1,063	1,044
Income (loss) per share attributable to ordinary shareholders — basic
Net income (loss) per ordinary share - basic (in USD per share)	$ 0.85	$ 0.75	$ 0.30
Income (loss) per share attributable to ordinary shareholders — diluted
Net income (loss) per ordinary share - diluted (in USD per share)	$ 0.85	$ 0.75	$ 0.29

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

Balance Sheet Components (Tables)

12 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Research and development tax credit receivables	$	120	$	103
Prepayments	169		107
Other receivables	69		46
Total prepaid expenses and other current assets	$	358	$	256

Schedule of Accrued Compensation and Benefits

Accrued compensation and benefits consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Accrued bonus, commissions, and cash awards	$	26	$	24
Accrued vacation and sabbatical	114		99
Accrued salaries and fringe benefits	7		12
Employee Stock Purchase Plan liability	7		5

Total accrued compensation and benefits	$	154	$	140

Schedule of Other Current Liabilities

Other current liabilities consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Employee related payroll taxes and payables (1)	$	119	$	200
Accrued expenses and fees	145		99
Electronic design automation liabilities	78		47
Trade payables (including payables to related parties of $20 and $11 as of March 31, 2026 and 2025, respectively)	80		63
Customer deposits	—		7
Finance lease liabilities	25		10
Total other current liabilities	$	447	$	426

(1) Employee related payroll taxes and payables are primarily related to vested RSUs during the three months ended March 31, 2026 and 2025, respectively, which will be or were, as applicable, paid in the subsequent quarter.

Schedule of Other Noncurrent Liabilities

Other non-current liabilities consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Electronic design automation liabilities	$	97	$	40
Other non-current liabilities	64		39
Total other non-current liabilities	$	161	$	79

Equity Investments - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2025	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Schedule of Equity Method Investments [Line Items]
Equity method investments under fair value option		$ 148.0	$ 300.0
Gains (losses) on equity method investments		(5.0)	(274.0)	$ (17.0)
Proceeds from settlement of loans, including convertible loans		56.0	0.0	0.0
Equity investments in publicly listed companies		96.0	98.0
Equity investments in publicly listed companies		(6.0)	43.0	0.0
Non-marketable equity securities		130.0	151.0
Gains (losses) on non-marketable equity securities (includes NAV)		25.0	(6.0)	(3.0)
Investment in non-marketable preferred stock, in exchange for trade receivables				4.6
Payments to acquire non-marketable preferred stock		11.0	57.0	32.0
Proceeds from sale or liquidation of equity investments		205.0	0.0	0.0
Dividends from equity investments		6.1	7.5	5.2
Financial commitments to investees, off balance sheet		25.6	28.1
Kigen (UK) Limited
Schedule of Equity Method Investments [Line Items]
Non-marketable equity securities		16.4	15.0
Payments to acquire non-marketable preferred stock		1.4
Ampere \| Convertible loans receivable
Schedule of Equity Method Investments [Line Items]
Proceeds from settlement of loans, including convertible loans	$ 39.3
Ampere \| Loans receivable
Schedule of Equity Method Investments [Line Items]
Convertible debt, current		0.0
Convertible debt, noncurrent			33.8
Arduino
Schedule of Equity Method Investments [Line Items]
Proceeds from sale or liquidation of equity investments		50.5
Acetone Limited
Schedule of Equity Method Investments [Line Items]
Gains (losses) on equity method investments		0.0	(20.0)	(15.9)
Equity method investments, fair value		56.5	56.5
Ampere
Schedule of Equity Method Investments [Line Items]
Gains (losses) on equity method investments			(246.4)
Equity method investments, fair value			143.4
Proceeds from sale of equity method investments	$ 143.4
Publicly Listed Companies
Schedule of Equity Method Investments [Line Items]
Equity investments in publicly listed companies		96.1	97.9
Equity investments in publicly listed companies		(5.6)	42.6
Fair Value Measured at Net Asset Value Per Share
Schedule of Equity Method Investments [Line Items]
Equity method investments under fair value option		91.3	100.3
Gains (losses) on equity method investments		(6.7)	(6.0)	(2.8)
Non-marketable equity securities		27.2	15.7
Gains (losses) on non-marketable equity securities (includes NAV)		$ 5.1	$ (2.2)	$ 0.5

Description of Business and Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business and Summary of Significant Accounting Policies

1 - Description of Business and Summary of Significant Accounting Policies

Description of Business

Arm Holdings plc and its wholly owned subsidiaries (the “Company” and also referred to as “we,” “our” or “us”) are a global leader in the semiconductor industry. The Company’s principal operations and activities are the licensing, marketing, research and development of central processing unit (“CPU”) intellectual property (“IP”), graphics processing unit IP, systems IP, compute subsystems (“CSS”), and associated software, tools and other related services. In March 2026, we announced the expansion of our compute platform into production silicon products with the Arm AGI CPU.

Corporate Reorganization

In September 2023, the Company completed a board approved corporate reorganization which involved (1) the shareholders of Arm Limited exchanging each of the ordinary shares held by them in Arm Limited for newly issued ordinary shares of Arm Holdings Limited; and (2) the re-registration of Arm Holdings Limited as a public limited company under the laws of England and Wales at which time its name was changed to Arm Holdings plc. This corporate reorganization was solely for the purpose of reorganizing the Company’s corporate structure, in which Arm Limited became a wholly owned subsidiary of the holding company, Arm Holdings plc. This transfer of equity resulted in the issuance of ordinary shares of Arm Holdings plc to shareholders in the same class and the same number of ordinary shares as their previous shareholding in Arm Limited. As a result of the corporate reorganization between entities under common control, the historical consolidated financial statements of the Company were retrospectively adjusted for the change in reporting entity. Therefore, the historical consolidated financial statements of Arm Limited became the historical consolidated financial statements of Arm Holdings plc as of the date of the corporate reorganization.

Initial Public Offering

The registration statement on Form F-1 relating to the Company’s initial public offering (the “IPO”) was declared effective on September 13, 2023 and the Company’s American depository shares (“ADSs”), each representing one ordinary share of the Company, began trading on the Nasdaq Global Select Market under the ticker symbol “ARM” on September 14, 2023. On September 18, 2023, the Company completed the closing of the IPO. The Company’s controlling shareholder sold an aggregate of 102,500,000 ADSs in the IPO at a price of $51 per ADS, including the underwriters’ full exercise of their option to purchase up to an additional 7,000,000 ADSs to cover over-allotments. The Company did not receive any proceeds from the sale of the ADSs in the IPO.

Upon completion of the IPO, the Company recognized incremental and accelerated share-based compensation expense for which service-based vesting conditions were satisfied or partially satisfied as of September 13, 2023. See Note 15 - Share-based Compensation for further details.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the U.S. (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company’s fiscal year ends on March 31st of each year.

Reclassification of Presentation in Consolidated Balance Sheets

Finance lease right-of-use assets that were previously included in property and equipment, net have been reclassified to finance lease right-of-use assets on the Consolidated Balance Sheets to conform to current period presentation. See Notes 8 - Property and Equipment, Net and 9 - Leases for further details. Finance lease liabilities continue to be included in other current liabilities and other non-current liabilities on the Consolidated Balance Sheets.

Principles of Consolidation

The accompanying financial statements include the accounts of the Company, its wholly owned subsidiaries and the Arm Employee Benefit Trust (the “EBT”). All intercompany balances and transactions have been eliminated in consolidation.

The financial statements consolidate all of the Company’s affiliates, and the entities where the Company holds a controlling financial interest, because the Company holds a majority voting interest. The Company reevaluates whether there is a controlling financial interest in all entities when rights and interests change.

Foreign Currency

The accompanying consolidated financial statements are presented in U.S. dollar (“USD”), which is the Company’s functional and reporting currency. For most of the Company’s international operations, the local currency has been determined to be the functional currency of the respective entity.

For transactions entered into in a currency other than its functional currency, monetary assets and liabilities are remeasured into the functional currency at end-of-period exchange rates. Non-monetary assets and liabilities, along with equity are remeasured at historical exchange rates. Income and expenses are remeasured at exchange rates in effect during each period, except for those expenses related to non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are included in other non-operating income (loss), net in the Consolidated Income Statements.

The Company translates functional currency assets and liabilities to their USD equivalents at exchange rates in effect as of the balance sheet date and income and expense amounts at average exchange rates for the period. The USD effects that arise from changing translation rates are recorded in foreign currency translation adjustments in the Consolidated Statements of Comprehensive Income.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant items subject to such estimates include, but are not limited to, revenue recognition, allowance for expected credit losses, income taxes, share-based compensation, impairment considerations for long-lived assets, fair value estimates and impairment for investments. The Company evaluates these estimates on an ongoing basis and revises estimates as circumstances change. The Company bases its estimates on historical experience, anticipated results, trends, and other various assumptions that it believes are reasonable. Actual results could differ materially from the Company’s estimates.

Concentrations of Credit Risk

Credit risk is the risk of an unexpected loss if a customer or third-party to a financial instrument fails to meet its contractual obligations. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, bank deposits, short-term investments, derivative financial instruments and accounts receivable. The Company’s maximum exposure to credit risk is limited to the carrying amount of these assets. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies. The Company further manages its credit risk on liquid funds and derivative financial instruments through diversification of investment type and credit exposures. For accounts receivable, the credit risk is managed through the use of mitigating controls, including the use of credit checks and credit limits on customers. For financial assets (other than accounts receivable), the Company holds positions with an approved list of investment-grade rated counterparties and monitors the exposures and counterparty credit risk on a regular basis. The Company establishes reserves for potential credit losses and such losses have been within Management’s expectations. Credit losses are monitored on a regular basis and have not been material in any year presented.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, short-term deposits and money market funds with original maturities of three months or less that are readily convertible into known amounts of cash and are subject to insignificant risk of changes in value. Cash and cash equivalents are stated at cost, which approximates fair value because the short-term maturity of those instruments.

Short-term Investments

Short-term investments represent term deposits with banks with a maturity between three and 12 months. These investments are classified as held-to-maturity as the Company has the intent and ability to hold the investments to maturity. These investments are recorded at amortized cost, net of expected credit losses. Amortization of premiums or accretion of discounts are included in interest income, net in the Consolidated Income Statements. Accrued interest receivable is included in prepaid and other current assets on the Consolidated Balance Sheets.

Equity Investments

The Company regularly invests in equity securities of public and private companies to promote business and strategic objectives. Equity investments are measured and recorded as follows:

•Non-marketable equity securities are equity securities without readily determinable fair values and for which the Company does not have the ability to exercise significant influence. Non-marketable equity securities are recorded on the income statement either at fair value on a recurring basis with changes in fair value, whether realized or unrealized; or by election, measured and recorded using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes.

•Equity method investments are equity securities in investees in which the Company does not control but has the ability to exercise significant influence. Investments in limited partnerships or certain limited liability companies that maintain a specific ownership account for each investor are also accounted for using the equity method when the Company has more than virtually no influence (i.e., at least 3% to 5% ownership). The Company has elected to account for certain equity method investments under the fair value option. These investments are recorded at fair value with changes in fair value recorded on the income statement. Where the Company has not elected the fair value option, equity method investments are recorded at cost minus impairment, if any, plus or minus the Company’s share of the equity method investees’ income or loss recorded in the income statement.

•Equity investments in publicly listed companies is classified as an equity security with a readily determinable fair value. It is measured and recorded at fair value on a recurring basis, with both realized and unrealized changes in fair value recognized in the Consolidated Income Statements. Fair value is determined based on quoted market prices.

For certain non-marketable equity securities and equity method investments, the Company has elected to apply the net asset value (“NAV”) practical expedient, where NAV is the estimated fair value of the investments. For these securities, estimated fair values are determined based on the indicated market values of the underlying assets or investment portfolios. Income statement activity for all equity investments is recorded in Income (loss) from equity investments, net, in the Consolidated Income Statements.

The carrying values of non-marketable equity securities under the measurement alternative are adjusted for qualifying observable price changes resulting from the issuance of similar or identical securities in an orderly transaction by the same issuer. Determining whether an observed transaction is similar to a security within the Company’s portfolio requires judgment based on the rights and preferences of the securities. Recording upward and downward adjustments to the carrying values of equity securities as a result of observable price changes requires quantitative assessments of the fair values of the Company’s equity securities using various valuation methodologies and involves the use of estimates.

Non-marketable equity securities under the measurement alternative and equity method investments not measured under the fair value option (collectively referred to as “non-marketable equity securities”) are also subject to periodic impairment

analysis. The quarterly impairment analysis considers both qualitative and quantitative factors that may have a significant impact on the investee’s fair value. Qualitative factors considered include the investee’s financial condition and business outlook, industry and sector performance, market for technology, operational and financing cash flow activities, and other relevant events and factors affecting the investee. When indicators of impairment exist, the Company prepares quantitative assessments of the fair value of the non-marketable equity securities using both the market and income approaches, which require judgment and the use of estimates, including discount rates, investee revenue and costs, and comparable market data of private and public companies, among others.

Non-marketable equity securities under the measurement alternative are tested for impairment using a qualitative model similar to the model used to test goodwill and other long-lived assets for impairment. Upon determining an impairment may exist, the security’s fair value is calculated and compared to its carrying value and an impairment is recognized immediately if the carrying value exceeds fair value.

Equity method investments not measured under the fair value option are subject to periodic impairment reviews using the other-than-temporary impairment model, which considers the severity and duration of a decline in fair value below cost and the Company’s ability and intent to hold the investment for a sufficient period of time to allow for recovery.

Loans Receivable

Loans receivable consist of term loans to a related party and other entities. The term loans are recorded at amortized cost, net of allowances for loan losses. The Company maintains an allowance for current expected credit losses to reserve for potentially uncollectible loans receivable. The Company measures interest income for all loans receivable using the interest method, which is based on the effective yield of the loans rather than the stated coupon rate. The Company classifies loans receivable in other non-currents assets on the Consolidated Balance Sheets.

Convertible Loans Receivable

Convertible loans receivable consisted of convertible loans to certain entities. The Company elected to apply the fair value option to account for such convertible loans receivable. Under the fair value option, such convertible loans receivable were measured initially and subsequently at fair value with changes in fair value recorded in other non-operating income (loss), net in the Consolidated Income Statements. Convertible loans receivable were included in other non-current assets on the Consolidated Balance Sheets. As of March 31, 2026, the Company had no outstanding convertible loans receivable, as all such balances were settled in full during the fiscal year ended March 31, 2026.

Available-For-Sale Debt Securities

The Company holds investments in redeemable convertible preferred shares that are classified as available-for-sale and recorded at fair value within other non-current assets on the Consolidated Balance Sheets. These instruments are not publicly traded and are valued using Level 3 inputs, including discounted cash flow and option-pricing models that incorporate significant unobservable inputs. Unrealized gains and losses from changes in fair value are recognized in other comprehensive income on the Consolidated Balance Sheets. If the fair value of an investment declines below its cost basis and the decline is determined to be credit-related, a loss is recognized in earnings with a corresponding allowance, while non-credit-related losses remain in other comprehensive income. Realized gains and losses are recognized in earnings upon disposition.

Fair Value Measurement

The Company measures certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. Fair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). When determining fair value, the Company considers the principal or most advantageous market in which the Company would transact, as well as assumptions that market participants would use when pricing the asset or liability. When estimating fair value, depending on the nature and complexity of the asset or liability, the Company may use one or all of the following techniques:

•Income approach, which is based on the present value of a future stream of net cash flows.

•Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities.

•Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence.

Fair value disclosures are classified based on the fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

•Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

•Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

•Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

Please refer to Note 13 - Fair Value, for further discussion on the Company’s fair value measurements.

Business Combinations

The Company uses the acquisition method of accounting for business combinations, which requires separate recognition of assets acquired and liabilities assumed from goodwill, based on their estimated fair values at the time of acquisition. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the fair value of any non-controlling interests in the acquiree over the net of the estimated acquisition date fair values of the assets acquired and liabilities assumed. The estimates and assumptions used in valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows, discount rate used to determine the present value of these cash flows and the useful lives of the assets. Although the Company’s fair value estimates are based upon assumptions believed to be reasonable, these estimates and assumptions are inherently uncertain and subject to refinement.

As a result, during the measurement period up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon conclusion of the measurement period or final determination of fair values of the purchase price of an acquisition, whichever comes first, any subsequent adjustments are recorded in earnings in the Consolidated Income Statements. Acquisition-related expenses are recognized separately from the business combination and expensed as incurred.

Goodwill

Goodwill represents the excess of cost over the fair value of net assets acquired in a business combination. Goodwill is tested for impairment annually during the fourth fiscal quarter or during interim periods whenever events and circumstances indicate an impairment may have occurred. The identification and measurement of goodwill impairment involves the estimation of fair value at the Company’s reporting unit level, which is the same or one level below the operating segment level. The Company determined it has one reporting unit.

The Company has the option to assess qualitative factors first to determine whether it is necessary to perform the two-step test. If the Company believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, the two-step quantitative impairment test is required. Otherwise, no further testing is required. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations.

The Company completed its annual goodwill impairment test in the fourth fiscal quarter of the fiscal year ended March 31, 2026. After conducting a qualitative review, the Company concluded that it was more likely than not that the fair value was more than the carrying value of the Company’s single reporting unit. Accordingly, there was no indication of impairment.

Intangible Assets, Net

Intangible assets primarily represent acquired intangible assets including those acquired separately, such as computer software and purchased patents and licenses to use technology, as well as those acquired through business combinations such as developed technology and customer relationship assets.

The Company initially records intangible assets acquired in a business combination at their estimated fair value. Intangible assets are reported net of accumulated amortization and any accumulated impairment losses, and are amortized over their estimated useful lives at amortization rates that are proportionate to each asset’s estimated economic benefit.

Amortization of intangible assets is recorded in either cost of sales, research & development or selling, general and administrative expenses in the Consolidated Income Statements depending on the nature of the underlying asset and uses by the Company.

The cost of intangible assets is amortized and recorded on the income statement on a straight-line basis over the estimated useful lives of the underlying assets. Useful lives are reviewed each year and adjustments are made, where applicable, on a prospective basis. The estimated useful lives of the Company’s intangible assets are as follows:


Patents and licenses			3 – 11 years
Internal-use software			3 – 5 years
Developed technology			1 – 8 years
Customer relationships			1 – 6 years

Software Development Costs and Acquired Intangible Software

The Company has not historically capitalized software development costs for software to be sold, leased or otherwise marketed as the time and cost incurred between technological feasibility and product release has been determined to be immaterial. As such, these development costs are generally recognized as incurred in research and development expenses in the Consolidated Income Statements.

The Company capitalizes certain development costs related to software acquired, developed or modified for internal use, along with certain costs incurred in connection with the implementation of internal use software. Costs related to certain application development activities, such as personnel and related employee benefits expenses for employees who are directly associated with and who devote time to the project, are subject to capitalization. Internal-use software is capitalized when management has authorized and committed to funding the software project and it is probable that the project will be completed, and the software will be used to perform the function intended. Amortization begins once the software is ready for its intended use, and amortization expense is generally recognized on a straight-line basis over the software’s estimated useful life between three and five years.

Capitalized costs related to internal use software, net of accumulated amortization, are included in intangible assets, net on the Consolidated Balance Sheets and amortization expense is recognized in research and development and selling, general and administrative expenses in the Consolidated Income Statements.

Property and Equipment, Net

Property and equipment are stated at cost net of accumulated depreciation and impairment losses. Cost comprises expenditures directly attributable to the purchase of the asset. Assets are depreciated to their estimated residual value, on a

straight-line basis, over the estimated useful life of the underlying asset. Estimated useful lives and residual values are reviewed at each reporting date. Depreciation on property and equipment is recorded in cost of sales, research and development or selling, general and administrative expenses in the Consolidated Income Statements depending on the nature of the underlying asset and uses by the Company.

Estimated useful lives of the Company’s property and equipment are as follows:



Leasehold improvements			Shorter of 5 – 10 years or the remaining lease term
Equipment			3 – 7 years
Fixtures and vehicles			3 – 5 years

An item of property or equipment is written off either upon disposal or when there is no expected future economic benefit from its continued use. Gain or loss on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value of the asset) is included in the Consolidated Income Statements in the year the asset is derecognized.

Impairment of Long-lived Assets Other than Goodwill

The Company reviews long-lived assets other than goodwill for impairment when facts or circumstances indicate the carrying amount of an asset or asset group may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying values are reduced to the estimated fair value. Fair value is determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. Impairment losses are recorded in impairment of long-lived assets in the Consolidated Income Statements.

Leases

The Company determines if an arrangement is a lease, or contains a lease, at the inception or modification date of the arrangement and evaluates whether the lease is an operating lease or a finance lease. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period in exchange for consideration. Control over the use of the identified assets means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments over the lease term.

Operating lease right-of-use assets and lease liabilities are measured at the lease commencement date based on the present value of the remaining lease payments over the lease term, discounted using the Company’s incremental borrowing rate, which approximates the interest rate at which the Company could borrow on a collateralized basis with similar terms and payments and in similar economic environments. Operating lease right-of-use assets also include initial direct costs incurred and prepaid lease payments, minus any lease incentives. Lease terms include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. All lease and non-lease components, principally common area maintenance costs, are combined in determining operating lease right-of-use assets and lease liabilities. Operating lease expense is recognized on a straight-line basis over the lease term. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, and non-current portion of operating lease liabilities on the Company’s Consolidated Balance Sheets. The Company recognizes operating right-of-use assets and operating lease liabilities for lessee operating leases other than those with a term of 12 months or less as the Company has elected to apply the short-term lease recognition exemption.

The Company recognizes a lease as a finance lease if it transfers substantially all the risks and rewards incidental to ownership at the inception of the lease. Finance lease right-of-use assets that were previously included in property and equipment, net have been reclassified to finance lease right-of-use assets on the Consolidated Balance Sheets. Finance lease liabilities continue to be included in other current liabilities and other non-current liabilities on the Consolidated Balance

Sheets. Finance lease assets are amortized on a straight-line basis over the lease term, with the interest component included in interest expense and recognized using the effective interest method over the lease term.

Asset Retirement Obligations

An asset retirement obligation (“ARO”) is recorded as appropriate on assets for which the Company has a legal obligation to retire. The Company records a liability for an ARO and the associated asset retirement cost at the time the underlying asset is acquired and put into service. Subsequent to the initial measurement of the ARO, the obligation is adjusted at the end of each period to reflect the passage of time and changes in the estimated future cash flows underlying the obligation, if any. Over time, the liability is accreted to its present value and the capitalized cost is depreciated over the estimated useful life of the asset. The Company has recognized AROs for contractually mandated removal of leasehold improvements.

Derivative Financial Instruments and Hedge Activities

The Company uses derivative financial instruments, specifically foreign currency forward contracts, to mitigate exposure from certain foreign currency risk arising from operating expenses within research and development and selling, general and administrative expenses that are denominated in foreign currency, predominantly British Pound Sterling (“GBP”). These contracts are designated as cash flow hedges for hedge accounting treatment. Gains or losses on the contracts are recorded in accumulated other comprehensive income (loss) and reclassified to operating expenses when the related operating expenses are recognized in net income (loss) or ineffectiveness should occur.

All derivatives are recorded at fair value as either an asset or liability. For derivatives not designated as hedges, adjustments to reflect changes in the fair value of the derivatives are included in earnings in other non-operating income (loss), net in the Consolidated Income Statements.

All foreign currency forward contracts were designated as cash flow hedges in designated hedging relationships with the forecasted foreign denominated cash flows as the hedged transactions. The maximum length of time over which the Company is hedging its exposure to the variability in future foreign denominated cash flows is 12 months. For cash flow hedges that qualify and are designated for hedge accounting, the change in fair value of the derivative is recorded in the net change in fair value of the effective portion of designated cash flow hedges on the Consolidated Statements of Comprehensive Income, and subsequently recognized in research and development and selling, general and administrative expenses in the Consolidated Income Statements when the hedged transaction affects earnings.

The Company classifies all derivative assets and liabilities for designated and non-designated derivatives in prepaid expenses and other current assets and other current liabilities on the Consolidated Balance Sheets. The Company classifies cash flows from the settlement of effective cash flow hedges for designated and non-designated derivatives in the same category as the cash flows from the related hedged items in operating activities on the Consolidated Statements of Cash Flows. The foreign currency forward contracts are classified under Level 2 of the fair value hierarchy. See Note 13 - Fair Value.

Revenue Recognition

The Company recognizes revenues for the transfer of products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products or services. The principle is achieved through the following five-step approach:

•Identification of the contract with the customer

•Identification of the performance obligations

•Determination of the transaction price

•Allocation of the transaction price to the performance obligations in the contract

•Recognition of revenue when, or as, the Company satisfies a performance obligation

Revenue for the Company’s major product offerings consists of the following:

License and Other Revenue

•Intellectual property license — The Company generally licenses IP under non-exclusive license agreements that provide usage rights for specific applications for a finite or perpetual term. These licenses are made available electronically to address the customer-specific business requirements. These arrangements generally have distinct performance obligations that consist of transferring the licensed IPs, version extensions of architecture IP or releases of specified IPs, and support services. Support services consist of a stand-ready obligation to provide technical support, patches, and bug fixes over the support term. Where arrangements include royalty buydowns or upfront minimum royalty commitments, the Company treats them as fixed contract consideration under licensing revenue. Revenue allocated to the IP license is recognized at a point in time upon the delivery or beginning of the license term, whichever is later. Revenue allocated to distinct version extensions of architecture IP or releases of specified IP, excluding when-and-if-available minor updates over the support term, are recognized at a point in time upon the delivery or beginning of license term, whichever is later.

Certain license agreements provide customers with the right to access a library of current and future IPs on an unlimited basis over the contractual period depending on the terms of the applicable contract. These licensing arrangements represent stand-ready obligations in that the timing of the delivery of the underlying IPs is within the control of the customer and the extent of use in any given period does not diminish the remaining performance obligation. The contract consideration related to these arrangements is recognized ratably over the term of the contract in line with when the control of the performance obligations is transferred.

Certain subscription license agreements include unspecified future IPs that are provided on a when-and-if-available basis, representing a stand-ready obligation. The contract consideration allocated to the stand-ready obligation is recognized on a ratable basis over the term of the contract, commencing upon the later of the effective date of the agreement and the transfer of the initial available IP license.

•Software sales, including development systems — Sales of software, including development systems, which are not specifically designed for a given license (such as off-the-shelf software), are recognized upon delivery when control has been transferred and the customer can begin to use and benefit from the license.

•Professional services — Services (such as training, professional and design services) that the Company provides, which are not essential to the functionality of the IP, are separately stated and priced in the contract and accounted for separately. Training revenue is recognized as services are performed. Revenue from professional and design services is recognized over time using an input method based on engineering labor hours expended to date relative to the estimated total effort required. For such professional and design services, the Company has an enforceable right to payment for performance completed to date, which includes a reasonable profit margin and the performance of such services does not create an asset with an alternative use. In certain arrangements, the Company also provides customers with professional and design services, as a stand-ready obligation, that are recognized on a ratable basis over the term of the contract.

•Support and maintenance — Support and maintenance is a stand-ready obligation to the customer that is both provided and consumed simultaneously. Revenue is recognized on a straight-line basis over the period for which support and maintenance is contractually agreed pursuant to the license.

•Third party arrangements — In certain arrangements, the Company arranges for third parties to provide products or services to customers. Revenue is recognized on a gross basis when the Company controls the product or service, and on a net margin basis when it acts as an agent. In agent arrangements, control passes directly from the third party to the customer, and the Company bears no inventory or performance risk.

Royalty Revenue

For most IP license agreements, royalties are collected on products that incorporate the Company’s IP. The Company applies the royalty exception, under which revenue is recognized when the subsequent sale or usage occurs, assuming control of the license to which the royalty relates has transferred to the customer. Accordingly, royalties are recognized on an accrual basis in the quarter in which the customer ships their products, based on the Company’s technology that it

contains. This estimation process for the royalty revenue accrual is based on a combination of methodologies, including the use of historical sales trends and macroeconomic factors for predictive analysis, the analysis of customer royalty reports and their sales trends and forecasts, as well as data and forecasts from third-party industry research providers. Data considered includes revenue, unit shipments, average selling price, product mix, market share and market penetration. Adjustments to revenue are required in subsequent periods to reflect changes in estimates as new information becomes available, primarily resulting from actual amounts subsequently reported by the licensees in the period following the accrual, including royalty audit resolutions.

Significant Judgments

Identification of the Contract with the Customer

The Company accounts for a contract as a revenue contract when all of the following criteria are met:

•The contract has been approved in writing by the parties to the contract, and the parties are committed to perform their respective obligations;

•The Company can identify each party’s rights regarding goods or services to be transferred;

•The Company can identify the payment terms for the goods or services to be transferred;

•Contracts have commercial substance; and

•It is probable that the Company will collect substantially all of the consideration to which it will be entitled, in exchange for the goods or services to be transferred to the customer.

The Company sometimes enters into multiple contracts with the same customer that are treated, for accounting purposes, as one contract if the contracts are entered into at, or near, the same time and are interrelated. Judgment is required in evaluating whether various contracts are interrelated, which includes considerations as to whether they were negotiated as a package with a single commercial objective, whether the amount of consideration on one contract is dependent on the performance of the other contract, or if some, or all, obligations in the contracts constitute a single performance obligation.

New arrangements with existing customers can be based on either a new contract or the modification of prior contracts. The Company’s judgment in making this determination considers whether there is a connection between the new arrangement and the pre-existing contracts, whether the services under the new arrangement are highly interrelated with the products and services provided under prior contracts, and how the products and services under the new arrangement are priced.

The Company sometimes enters into non-cancellable and non-refundable committed funds arrangements from customers, where the parties have ongoing negotiations. Judgment is required in evaluating whether all rights and obligations of the arrangement are determined and enforceable.

Judgment is also required in determining whether collectability of substantially all of the consideration is probable. The Company assesses this through credit checks, past payment history or based on outstanding payments.

Identification of the Performance Obligations

Customer contracts often include various products and services as outlined in the summary of major product groups above. Typically, these products and services qualify as separate performance obligations, and a portion of the contractual value is allocated to them. Judgment is required, however, in determining whether a good or service is considered a separate performance obligation.

When selling licenses or services, the Company frequently grants customers the choice to acquire additional rights, goods or services (for example, renewals of offerings, version extensions through term renewals, additional future products, or additional volumes of purchased license). The Company also utilizes forward looking information such as product roadmaps and other marketing materials in identifying performance obligations for IPs or version extensions of architecture

IP under development or future products, and in determining if implicit promises or material right exist in certain long-term contracts.

In a typical licensing arrangement, the Company either licenses implementation IP or architecture IP. When implementation IP is licensed, the Company promises to provide all developed and undeveloped IP over the license term based on the terms of the contract entered into with the customer. Products are delivered to the customer based on the Company’s product roadmap and each IP is generally identified as a separate performance obligation. In a subscription contract, the undeveloped IP in the contract also includes an implied promise to deliver implementation IP that will be developed and become available during the contract term but is not on the product roadmap at contract inception and undeveloped IPs are identified as a single performance obligation.

When architecture IP is licensed, the Company promises to provide the available architecture IPs as well as all future version extensions of the architecture IP over the contract term which could range from 3 to 20 years. These version extensions may take one of two forms:

•Specified version extensions that are expected to be released over the next 2-3 years and are identified in the Company’s product roadmap, or;

•Implicit version extensions that the Company believes, based on historical data, will be developed in the period beyond the years covered by the product roadmap and will be delivered to the customer as and when released.

These version extensions represent promises to deliver distinct products and have a discernable release pattern, based on the Company’s established practice every year over the license term. When version extensions of architecture IP are promised along with a license to available architecture IP, a portion of the overall transaction price is allocated to the available architecture license while the remaining portion relating to future extensions is deferred until those extensions are delivered and become available for use.

Amounts allocated to the IP license including version extensions of an architecture license or releases of an implementation license are each recognized at a point in time upon the delivery or beginning of license term, whichever is later.

Determination of Transaction Price

The Company applies judgment when determining the amount of consideration it expects to be entitled to in exchange for transferring promised goods or services to a customer. This includes estimates as to whether, and to what extent, subsequent concessions or payments may be granted to customers, which release customers from their obligations to pay contractual fees. In this judgment, historical trends are considered with respect to both the specific customer and broader Company trends. The Company estimates the transaction price based on the amount expected to be received for transferring the promised goods or services in the contract. Consideration payable to a customer is accounted for as a reduction of the transaction price and, therefore, of revenue unless the payment to the customer is in exchange for a distinct good or service that the customer transfers to the Company. The transaction price also excludes amounts collected on behalf of third parties such as sales taxes. The Company’s revenue arrangements may include variable consideration including royalties. Where minimum royalties are agreed with customers and there is no uncertainty of their receipt, the amount is allocated to performance obligations as a part of the transaction price.

The Company considers relevant facts and circumstances in assessing whether a contract contains a significant financing component. Based on the nature of the Company’s revenue arrangements, payment terms generally do not provide a significant financing benefit to either the customer or the Company. The Company applies the practical expedient in ASC 606 and did not evaluate contract terms where the time period between payment and service delivery is one year or less for the existence of a significant financing component. A significant financing component is identified only where contract-specific facts and circumstances indicate that the timing of payments differs significantly from the transfer of goods or services. In such cases, the Company adjusts the transaction price to reflect the time value of money.

Allocation of Transaction Price

Judgment is required when estimating standalone selling prices (SSPs). There is also judgment involved in determining whether the pricing of certain performance obligations is highly variable or uncertain.

Other than support and maintenance, SSPs are usually not directly observable for the Company’s products and services because the Company generally does not sell its products or services on a standalone basis. When separately stated, contractual pricing is highly variable. The Company estimates the SSPs so that the Company allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised goods or services to the customer. The Company allocates royalties entirely to the licenses that give rise to them. When estimating a SSP, the Company considers available information and maximizes the use of observable inputs such as renewal pricing history for the Company’s standardized support and professional service offerings.

For offerings that have highly variable or uncertain pricing and lack substantial direct costs to estimate based on a cost-plus margin approach, the transaction price is allocated by applying a residual approach. This is on the basis that the Company has identified SSP for other performance obligations in the same arrangement. If two or more goods or services in a contract have highly variable or uncertain pricing, then the Company applies a combination of methods to allocate transaction price, including utilizing list prices, contract prices, and engineering effort estimates to develop future IPs, for initial allocation of residual amount of transaction price within such products.

For Arm Total Access arrangements, the Company establishes a separate performance obligation for implicit rights of future products upon contract execution and allocates the total transaction price to each performance obligation based on the price roadmap.

For customer agreements related to long-term licensing of architecture IP, the Company allocates the contract value to each of the performance obligations based on an estimate of the engineering efforts required to deliver the initial version of the IP as well as related future versions, including enhancements and upgrades.

The SSPs of material rights depend on the probability of option exercise. In estimating these probabilities, judgment is utilized when considering historical exercise patterns. The SSPs are reviewed annually or whenever facts and circumstances significantly change. These changes are applied prospectively.

Revenue from Arm China

Arm Technology (China) Co. Limited (“Arm China”) acts as the Company’s exclusive IP distributor in the People’s Republic of China, which, for the purposes of these financial statements, includes the Hong Kong Special Administrative Region and the Macau Special Administrative Region, but excludes Taiwan (collectively referred to as the “PRC”), under the intellectual property licensing arrangement (“IPLA”) and subsequent amendments. Arm China directly contracts with end customers with discretion in establishing pricing to sublicense specified IP and Arm Total Access Packages. The Company’s responsibility under the IPLA is to facilitate delivery of a good or service to the end customer in accordance with detailed instructions and other specifications from Arm China. In these cases, Arm China is the customer for the Company. As such, revenue presented by the Company is the net amount calculated as a percentage of license and royalty fees earned by Arm China from sub-license arrangements entered into with end customers. The Company applies the royalty exception, under which revenue is recognized when the subsequent sale or usage occurs, assuming control of the license to which the royalty relates has transferred to the customer. Where the revenue is derived as a percentage of the license fee of Arm China, the Company categorizes that portion as license revenue while the other portion, which represents the Company’s share of Arm China’s royalties, is categorized as royalties.

Contract Balances and Receivables

The Company recognizes accounts receivable in full when it has the contractual right to invoice the customer and begins satisfying the performance obligations over the term of the contract. Judgment is required to determine whether a right to consideration is unconditional and thus qualifies as a receivable. Contract assets are recognized as the performance

obligations are satisfied and the Company does not have the contractual right to invoice. Typically, the Company invoices a portion of the fees for IP licenses up front on the effective date of the contract and satisfies a considerable portion of performance obligations. Accrued royalties are included in accounts receivable, net on the Consolidated Balance Sheets. Contract liabilities primarily reflect invoices due, or payments received, in advance of revenue recognition. Periodic fixed fees for software support services, and other multi-period agreements are typically invoiced in advance.

Customer deposits primarily relate to payments received from customers which could be refundable pursuant to the terms of the contract and are in other current liabilities on the Consolidated Balance Sheet.

Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that its contracts generally do not include a significant financing component. The primary purpose of the Company’s invoicing terms is to provide customers with simplified and predictable ways of purchasing products and services, and not to provide or receive financing. Financing components have generally been insignificant in the context of the Company’s contracts; however, where a significant financing component exists, it is separately identified and accounted for.

Allowance for Current Expected Credit Losses

Trade receivables are stated at their net realizable value. The allowance for credit losses reflects the Company’s best estimate of expected credit losses of the receivable portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions. In developing the estimate for expected credit losses, accounts receivable is segmented into pools of assets depending on market (China versus international) and delinquency status, and fixed reserve percentages are established for each pool of accounts receivables. To determine the reserve percentages for each pool of accounts receivables, the Company considers its historical experience with certain customers and customer types, regulatory and legal environments, country and political risk, and other relevant current and future forecasted macroeconomic factors. These credit risk indicators are monitored on a quarterly basis to determine whether there are any changes in the economic environment that would indicate the established reserve percentages should be adjusted and are considered on a regional basis to reflect more geographic-specific metrics. Please refer to Note 4 - Revenue, for the summary of the movement in the allowance for current expected credit losses.

Additionally, write-offs and recoveries of customer receivables are tracked against collections on a quarterly basis to determine whether the reserve percentages remain appropriate. When management becomes aware of certain customer-specific factors that impact credit risk, specific allowances for these known troubled accounts are recorded. Accounts receivables are written off after all reasonable means to collect the full amount (including litigation, where appropriate) are exhausted. For the fiscal years ended March 31, 2026, 2025 and 2024, write-offs and recoveries of customer receivables were immaterial to the consolidated financial statements.

The Company recognizes an allowance for losses on contract assets based on a similar approach used for receivables under the current expected credit loss model. As of March 31, 2026 and 2025, the loss allowance for contract assets was immaterial.

Share-based Compensation

Restricted share units (“RSU”) were granted to employees, certain of our executive officers, and non-executive directors of the Company and require continuous service through the vesting date. In connection with the IPO on September 14, 2023, all RSUs previously issued under The Arm Holdings plc All-Employee Plan 2019 (“2019 AEP”), except for those 2019 AEP awards granted to employees of Arm Technology Israel Ltd., the Company’s Israeli subsidiary (“Arm Israel”), The Executive IPO Plan (“2019 EIP”), and Executive Awards previously issued under The Arm Holdings plc RSU Award Plan (“2022 RSU Plan”) were no longer expected to be settled in cash but rather expected to be settled in ordinary shares. This resulted in a change in classification of the RSUs from liability to equity which was accounted for as a modification. The number of RSUs that vest is determined by the achievement of market, performance and service conditions.

The Company expenses share-based compensation over the requisite service period of the awards, which is generally equivalent to the vesting term. Compensation cost is recorded only for those awards expected to vest. Share‑based compensation cost for employees associated with the development of internal-use software is capitalized only to the extent the cost is directly related to the qualifying internal‑use software projects.

The fair value of RSUs is determined on the date of grant for equity-classified awards, and at the end of each reporting period for liability-classified awards, using Monte Carlo simulations or the discounted cash flow approach. The fair value of Phantom Shares, which are subject to continuous service and vest upon meeting certain strategic performance conditions of the Company and are liability-classified, is determined on the date of grant and at the end of each reporting period based on the share price of the Company’s ultimate parent, SoftBank Group Corp. (“SoftBank Group”).

The Company classifies those awards in which the Company has the option, pursuant to the plan terms, and intends to settle in cash or equity, as liability-classified or equity-classified awards, respectively. Certain RSUs are liability-classified and are remeasured at the end of each reporting period through the date of settlement so that the expense recognized for each award is equivalent to the amount to be paid in cash. Changes in the fair value of liability-classified RSUs are recorded in the Consolidated Income Statements over the vesting period of the award. Expense associated with equity-classified RSUs are recognized using the straight-line method over the service period adjusted for estimated forfeitures.

Prior to the IPO, an initial public offering was not considered probable until it has occurred. Accordingly, RSUs that were subject to vesting on the earliest of (1) change of control, (2) initial public offering, or (3) passage of time, were expected to vest and be settled in cash upon the passage of time. For liability-classified awards, the weighted average fair value of the RSUs was measured at each reporting date using the Monte Carlo simulation model or a discounted cash flow approach. Similarly, the fair value for equity-classified awards was measured at the grant date using the discounted cash flow approach.

For the periods prior to the IPO in the fiscal year ended March 31, 2024, the Company used the Monte Carlo simulation model, the income approach and/or market-calibration approach based on comparable publicly traded companies in similar lines of businesses to measure the RSUs. The Monte Carlo simulation model simulates the Company’s equity value at an assumed listing exit event in order to determine the RSU vesting percentage. The model simulates the RSU vesting percentage over numerous iterations, and the average of all iterations is determined to be the fair value of an RSU. The model then discounts the future value of the RSU at the assumed listing exit event date back to the valuation date based on the relevant risk-free interest rate. The Monte Carlo simulation model incorporates various assumptions such as expected stock price volatility until a liquidity event, expected dividend yield, risk-free interest rate, and expected time to complete an initial public offering.

Prior to the IPO, at the grant date of the RSUs, the Company was private and its ordinary shares were not listed on a public stock exchange. Therefore, the Company’s Board of Directors exercised its reasonable judgment and considered numerous objective and subjective factors to determine the best estimate of fair value of the Company’s ordinary shares underlying share-based compensation awards, including:

•contemporaneous independent third-party valuations of ordinary shares;

•financial condition, results of operations, and capital resources;

•the likelihood and timing of achieving a liquidity event, such as an initial public offering or sale of the company, given prevailing market conditions;

•the lack of marketability of ordinary shares;

•estimates of future financial performance;

•market performance and valuations of comparable companies;

•the hiring or loss of key personnel;

•the status of the Company’s development, product introduction, and sales efforts;

•industry outlook and other information, such as market growth and volume and macro-economic events; and

•additional objective and subjective factors relating to the Company’s business.

To determine the fair value of ordinary shares, the Company first estimated the enterprise value and then allocated that enterprise value to ordinary shares and ordinary share equivalents. The Company’s enterprise value was estimated using the income and market-calibration approaches.

The income approach estimates enterprise value based on the estimated present value of future cash flows the business is expected to generate over its remaining life. The estimated present value is calculated using a discount rate reflective of the risks associated with an investment in a similar company in a similar industry or having a similar history of revenue growth. For each valuation, the Company prepared a financial forecast to be used in the computation of the value of invested capital for both the income approach and market-calibration approach. The financial forecast considered the Company’s past results and expected future financial performance. The risk associated with achieving this forecast was assessed in selecting the appropriate discount rate. There is inherent uncertainty in these estimates as the assumptions used are highly subjective and subject to changes as a result of new operating data and economic and other conditions that impact the business.

The market-calibration approach analyzes the percent change in the enterprise values of peer companies between the prior valuation date and the current valuation date. Based on the observed market movement in the enterprise values of peer companies, a market movement factor is selected to represent the potential shift in enterprise value between the prior valuation date and the current valuation date. The selected market movement factor is applied to the indicated value as of the prior valuation date.

Monte Carlo simulations incorporate highly subjective assumptions, such as stock price volatility and expected volatility until a liquidity event. Changes in highly subjective assumptions could significantly impact share-based compensation cost. Since the Company’s ordinary shares were not publicly traded, the computation of expected volatility was based on the average of historical and implied volatilities over the expected term of the awards of a representative peer group of publicly traded entities. Other assumptions included expected term, risk-free interest rate and dividend yield. The risk-free interest rate was based on zero-coupon U.S. Treasury bond rates corresponding to the expected term of the awards. Dividend assumptions were based on historical experience.

The Company estimates forfeitures based on employee level, economic conditions, time remaining to vest and historical forfeiture experience.

The Company estimates the fair value of shares to be issued under the Company’s employee stock purchase plan (the “ESPP”), using the Black-Scholes model at the commencement of an offering period in March and September of each year. Stock-based compensation for the ESPP is expensed using a straight-line method over the requisite service period.

Cost of Sales

Cost of sales expenses consist primarily of employee-related expenses and project costs associated with professional services and the provision of support and maintenance to customers, along with expenses related to license development services revenue, amortization of developed technology, and allocated overhead. Employee-related expenses include salaries, bonuses, share-based compensation, associated benefits, and employer taxes.

Research and Development

Research and development expenses consist primarily of employee-related expenses, including salaries, bonuses, share-based compensation, associated benefits, and employer taxes associated with employees in research and development functions, along with project materials costs, third-party fees paid to consultants, depreciation and amortization, allocated overhead, and other development expenses.

Selling, General and Administrative

Selling, general and administrative expenses consist primarily of employee-related expenses, including salaries, bonuses, share-based compensation, associated benefits, and employer taxes associated with employees in sales and marketing, along with corporate and administrative functions, including accounting and legal professional services fees, depreciation and amortization, advertising expenses, allocated overhead, and other corporate-related expenses.

Disposal, Restructuring and Other Operating Expenses, Net

Disposal expenses consist primarily of transaction costs, such as legal and professional fees, relating to various disposal activities.

Restructuring and other operating expenses consist primarily of employee termination benefits. Recognition of costs for employee termination benefits depends on whether employees are required to render service beyond a minimum retention period in order to receive the termination benefits. If employees are required to render service beyond a minimum retention period in order to receive the termination benefits, costs are recognized ratably over the applicable future service period. Otherwise, costs are recognized when the Company has committed to a restructuring plan and has communicated those actions to employees. Employee termination benefits covered by existing benefit arrangements are recognized when the Company has committed to a restructuring plan and the termination benefits are probable and estimable.

Government Incentives

The Company receives refundable tax credits to compensate for its research activities. In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-10, which establishes the accounting and presentation guidance for such government incentives received by business entities. As of March 31, 2026, the Company has not yet adopted ASU 2025-10. ASU 2025-10 is effective for the Company’s fiscal year ending March 31, 2030. Until the Company adopts ASU 2025-10, the Company follows interpretative guidance issued and commonly applied by financial statement preparers that allows for the selection of accounting policies amongst acceptable alternatives. Based on facts and circumstances, the Company determined it most appropriate to account for the government incentive by analogy to International Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance (“IAS 20”).

Under the provisions of IAS 20, a government grant is recognized when there is reasonable assurance the Company will meet the terms for receiving and realizing the benefit. IAS 20 does not define “reasonable assurance,” however, based on certain interpretations, it is analogous to “probable” as defined under GAAP, which is the definition the Company has applied. Under IAS 20, government grants are recognized in earnings on a systematic basis over the periods in which the Company recognizes the related (i.e. qualified) expenses. Further, IAS 20 permits for the recognition in earnings either separately under a general heading such as other income, or as a reduction of the related expenses. The Company has elected to recognize the benefit as a reduction of the related expenses in research and development in the Consolidated Income Statements. For the fiscal years ended March 31, 2026, 2025 and 2024, the government incentive benefit recognized in research and development expenses was $148.9 million, $114.2 million and $107.9 million, respectively.

Income Taxes

The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.

Valuation allowances are established when necessary to reduce deferred tax assets to the net amount that is more likely than not to be realized. In assessing the need for a valuation allowance, all available evidence is considered, both positive and negative, including historical levels of income, estimates of future taxable income, and the feasibility of tax planning

strategies. The Company regularly assesses the need for a valuation allowance. If there is a change in the determination as to the amount of deferred tax assets that can be realized, the valuation allowance is adjusted to income tax expense in the period in which such determination is made.

The Company recognizes the tax benefit of an uncertain tax position only if it is more likely than not that the tax position is sustainable upon examination by the taxing authority, based solely on its technical merits. The tax benefit recognized is measured as the largest amount of benefit that is more than 50% likely to be realized upon settlement with the taxing authority. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense.

Net Income (Loss) Per Share Attributable to Ordinary Shareholders

Basic income (loss) per ordinary share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares and potentially dilutive ordinary shares outstanding during the period. Potentially dilutive ordinary shares whose effect would have been antidilutive are excluded from the computation of diluted earnings per ordinary share.

2 - Recent Accounting and Disclosure Pronouncements

Recently adopted accounting pronouncements

Income Taxes (Topic 740), Improvements to Income Tax Disclosures: In December 2023, the FASB issued ASU 2023-09, which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The Company adopted ASU 2023-09 prospectively in the annual financial statements for the fiscal year ended March 31, 2026. See Note 16 - Income Taxes for further information.

Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) – Targeted Improvements to the Accounting for Internal-Use Software: In September 2025, the FASB issued ASU 2025-06, which amends certain aspects of the accounting for and disclosure of software costs under Accounting Standards Codification 350-40, Internal-Use Software. ASU 2025-06, which can be applied prospectively, retrospectively, or with a modified transition approach, is effective for the Company’s fiscal year ending March 31, 2029, and interim periods in the same annual reporting period. Early adoption is permitted. The Company adopted ASU 2025-06 prospectively in the annual financial statements for the fiscal year ended March 31, 2026. The adoption of ASU 2025-06 did not have a material impact on the Company’s consolidated financial statements.

Recently issued accounting pronouncements not yet adopted

Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), Disaggregation of Income Statement Expenses: In November 2024, the FASB issued ASU 2024-03, which requires incremental disclosures to disaggregate income statement expense items. In January 2025, the FASB issued ASU No. 2025-01, Clarifying the Effective Date, which revised the effective date of ASU No. 2024-03 for interim periods. ASU 2024-03 and ASU 2025-01 are effective for the Company’s fiscal year ending March 31, 2028, and interim periods within our fiscal years beginning after April 1, 2028. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 and ASU 2025-01 on its consolidated financial statements and disclosures.

Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses for Accounts Receivable and Contract Assets: In July 2025, the FASB issued ASU 2025-05, which provides a practical expedient to measure credit losses on current accounts receivable and current contract assets under Accounting Standards Codification 606, Revenue from Contracts with Customers. The practical expedient assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for the Company’s fiscal year ending March 31, 2027, and interim periods in the same annual reporting period. Early adoption is permitted. The Company does not believe the adoption of ASU 2025-05 will have a material impact on its financial statements and disclosures. The Company will adopt this standard for the fiscal year beginning April 1, 2026.

Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) – Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract: In September 2025, the FASB issued ASU 2025-07, which refines the scope for derivatives to clarify which contracts are subject to derivative accounting and clarifies share-based noncash consideration from a customer in a revenue contract. ASU 2025-07, which can be applied prospectively or with a modified transition approach, is effective for the Company’s fiscal year ending March 31, 2028, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-07 on its consolidated financial statements.

Derivatives and Hedging (Topic 815) – Hedge Accounting Improvements: In November 2025, the FASB issued ASU 2025-09, which refines hedge accounting to more closely align an entity’s financial reporting with the economics of risk management activities, including expanded eligibility to hedge groups of forecasted transactions, introduces a new model for “choose-your-rate” debt instruments, and certain changes that avoid automatic redesignation when the hedged risk is revised if effectiveness is maintained. ASU 2025-09, which has to be applied prospectively for all hedging relationships, is effective for the Company’s fiscal year ending March 31, 2028, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-09 on its consolidated financial statements.

Government Grants (Topic 832) – Accounting for Government Grants Received by Business Entities: In December 2025, the FASB issued ASU 2025-10, which establishes the accounting and presentation guidance for government grants received by business entities. ASU 2025-10, which can be applied modified prospectively, modified retrospectively, or retrospectively, is effective for the Company’s fiscal year ending March 31, 2030, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-10 on its consolidated financial statements.

Interim Reporting (Topic 270) – Narrow-Scope Improvements: In December 2025, the FASB issued ASU 2025-11, which clarifies when ASC 270 applies and adds a comprehensive list of interim disclosure requirements from other Codification topics. The ASU 2025-11 also introduces a disclosure principle requiring entities to disclose events since the last annual period that have a material impact, and specifies the form and content of condensed interim financial statements. ASU 2025-11, which can be applied prospectively or retrospectively to any or all prior periods presented, is effective for the Company’s fiscal year ending March 31, 2029, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-11 on its consolidated financial statements.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Mar. 31, 2026
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Equity Investments (Tables)

12 Months Ended

Mar. 31, 2026

Investments, All Other Investments [Abstract]

Schedule of Equity Investments

A summary of the components of equity investments is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Equity method investments under fair value option	$	148	$	300
Equity investments in publicly listed companies	96		98
Equity method investments under equity method	13		16
Non-marketable equity securities	130		151
Total equity investments	$	387	$	565

Income (loss) from equity investments, net is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Equity investments in publicly listed companies	$	(6)	$	43	$	—
Equity method investments (1)	(5)		(274)		(17)
Non-marketable equity securities (includes NAV)	25		(6)		(3)
Total income (loss) from equity investments, net	$	14	$	(237)	$	(20)

(1)Includes equity method investments where the Company elected the fair value option, including those under the net asset value (“NAV”) practical expedient, along with investments accounted for under the equity method.

Schedule of Equity Method Investments

Details of the Company’s equity method investments as of March 31, 2026 are as follows:

Investments under equity method of accounting:


Name						Ownership Interest %
Arm IOT Fund LP (Taiwan)						25.8%
Accelerator Advisory Limited(1)						16.1%
HOPU-ARM Holding Company Limited(2)						10.0%
DeepTech Labs Fund 1 LP						37.0%
Socratic Partners I LP						3.2%

(1) The Company’s investment in Accelerator Advisory Limited entitles the Company representation on the board of directors by virtue of the right to appoint one of four members of the board of directors. Accordingly, the Company has the ability to exercise significant influence over the operating and financial policies of Accelerator Advisory Limited.

(2) The Company’s investment in HOPU-ARM Holding Company Limited entitles the Company to a 10% equity interest in HOPU-ARM Holding Company Limited and representation on the board of directors by virtue of the right to appoint one of three members of the board of directors. Accordingly, the Company has the ability to exercise significant influence over the operating and financial policies of HOPU-ARM Holding Company Limited.

Investments where fair value option elected (including those under the NAV practical expedient):


Name						Ownership Interest %
Acetone Limited						10.0%
China Walden Ventures Investments II, L.P. —NAV						7.5%
China Walden Ventures Investments III, L.P. —NAV						8.1%
HOPU-ARM Innovation Fund, L.P. —NAV						5.1%
Catapult Ventures I, L.P. —NAV						18.1%

Schedule of Unrealized Gain (Loss) on Investments

The components of gains and (losses), which primarily include unrealized gains and losses on non-marketable securities inclusive of those measured under the NAV practical expedient, are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Observable price adjustments on non-marketable equity securities (includes NAV)	$	25	$	(2)	$	—
Impairment of non-marketable equity securities	—		(4)		(3)

Total income (loss) from equity investments in non-marketable securities, net	$	25	$	(6)	$	(3)

Schedule of Realized Gain (Loss) on Investments

The components of gains and (losses), which primarily include unrealized gains and losses on non-marketable securities inclusive of those measured under the NAV practical expedient, are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Observable price adjustments on non-marketable equity securities (includes NAV)	$	25	$	(2)	$	—
Impairment of non-marketable equity securities	—		(4)		(3)

Total income (loss) from equity investments in non-marketable securities, net	$	25	$	(6)	$	(3)

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Provision for Income Taxes

The components of income before provision for income taxes are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
United Kingdom	$	828	$	526	$	139
Foreign	329		194		73
Income before provision for income taxes	$	1,157	$	720	$	212

Schedule of Benefit (Expense) for Income Taxes

The benefit (expense) for income taxes consists of the following:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Current:
United Kingdom	$	—	$	(1)	$	2
Foreign	(238)		(145)		(178)
Total current tax benefit (expense)	$	(238)	$	(146)	$	(176)
Deferred:
United Kingdom	$	27	$	97	$	114
Foreign	(42)		121		156
Total deferred tax benefit (expense)	$	(15)	$	218	$	270
Total income tax benefit (expense)	$	(253)	$	72	$	94

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the United Kingdom statutory income tax rate to our effective tax rate after the prospective adoption of ASU 2023-09 is as follows:


	Fiscal Year Ended March 31,
	2026
(in millions, except percentages)	Amount		Percent
United Kingdom statutory income tax rate	$	(289)	25.0	%
Foreign tax effects
United States

State and local income taxes, net of federal income tax effect	30		(2.6)	%
Research and development tax credits	35		(3.0)	%
Share-based compensation	25		(2.2)	%
Withholding tax	(15)		1.3	%
Other	3		(0.3)	%
China
Withholding tax	(81)		7.0	%

Singapore
Withholding tax	(18)		1.6	%
South Korea

Withholding tax	(30)		2.6	%

Taiwan
Withholding tax	(51)		4.4	%




Other foreign jurisdictions	(33)		2.9	%
Tax credits
Research and development tax credits	25		(2.2)	%
Foreign tax credit	62		(5.4)	%
Nontaxable or nondeductible items
Share-based compensation	34		(2.9)	%
Foreign tax deduction	36		(3.1)	%
Other	(6)		0.5	%
Changes in unrecognized tax benefits	(66)		5.7	%
Other Adjustments
Patent box benefit	86		(7.4)	%

Income tax benefit (expense)	$	(253)	21.9	%

A reconciliation of the tax benefit (expense) at the United Kingdom statutory income tax rate to the actual tax benefit (expense) prior to the adoption of ASU 2023-09 is as follows:


	Fiscal Year Ended March 31,
(in millions)	2025		2024
Income tax benefit (expense) at statutory rate	$	(180)	$	(53)
Foreign tax rate differential	(10)		(14)
Research and development tax credits	85		94
Change in valuation allowance	—		(4)
Non-deductible/non-taxable items	(10)		(3)
Patent box benefit	38		(4)
Contingency reserve	19		—
Impact of U.K. rate change	(22)		(3)
Withholding tax	(97)		(122)
Gains exempt from U.K. tax	(2)		(3)
Windfall tax benefit associated with share-based compensation	251		206
Income tax benefit (expense)	$	72	$	94

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities are as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Tax losses and research and development tax credits	$	522	$	549
Share-based compensation	58		41
Lease liabilities	28		25
Fixed assets	25		21
Other	28		38
Total gross deferred tax assets	661		674
Less: Valuation allowance	(11)		(26)
Total deferred tax assets, net of valuation allowance	650		648
Deferred income	(213)		(206)
Outside basis differences	(44)		(52)
Right-of-use assets	(23)		(23)
Acquired intangibles	(6)		(6)
Other	(28)		(1)
Total deferred tax liabilities	(314)		(288)
Net deferred tax assets (liabilities)	336		360

Schedule of Changes in Gross Unrecognized Tax Benefits

The following table reflects changes in gross unrecognized tax benefits:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Gross unrecognized tax benefits—April 1	$	101	$	83	$	62
Gross increases—tax positions in prior period	88		—		5
Gross decreases—tax positions in prior period	(12)		(11)		(1)
Gross increases—tax positions in current period	23		31		19
Settlements	—		(2)		—
Lapse of statute of limitations	—		—		(1)
Foreign exchange	—		—		(1)
Gross unrecognized tax benefits— March 31	$	200	$	101	$	83

Schedule of Cash Paid for Income Taxes, Net of Refunds

Supplemental disclosures of cash flow information related to leases are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	(44)	$	(37)	$	(35)
Operating cash flows used for finance leases	$	3	$	1	$	—
Financing cash flows used for finance leases	$	(26)	$	(23)	$	(10)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	98	$	146	$	28
Finance leases	$	56	$	33	$	21

Cash paid for income taxes (net of refunds received) by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the fiscal year ended March 31, 2026 is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026
United Kingdom	$	—
Foreign
China	81
Taiwan	51
South Korea	30
United States	17
Singapore	18
India	12
Other	14
Total cash paid for income taxes	$	223

Related Party Transactions	12 Months Ended
Related Party Transactions	Mar. 31, 2026
Related Party Transactions [Abstract]
Related Party Transactions	20 - Related Party Transactions Arm China and Acetone Limited Following the restructuring of its direct investment in Arm China in the fiscal year ended March 31, 2022, the Company has a 10% non-voting ownership interest in Acetone Limited, whose primary asset is a 48.2% interest in Arm China. The Company has no direct material transactions with Acetone Limited. For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized revenue under the terms of the IPLA with Arm China of $790.6 million, $670.4 million and $670.8 million, respectively, and recognized expenses under a service share arrangement with Arm China of $63.3 million, $59.4 million, and $74.1 million, respectively. In the fiscal year ended March 31, 2024, the Company recognized $5.5 million of contract termination costs in disposal, restructuring and other operating expenses, net in the Consolidated Income Statements due to a terminated agreement with Arm China for certain software engineering-related services, which was brought in-house. For the fiscal years ended March 31, 2026 and 2025, the Company did not recognize any contract termination costs in disposal, restructuring, and other operating expenses, net in the Consolidated Income Statements related to Arm China. The Company leases certain assets to Arm China. For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized rental income from the assets leased to Arm China of $1.0 million, $1.2 million and $1.7 million, respectively. As of March 31, 2026, the Company had an amount due of $276.2 million ($296.5 million receivable less $20.3 million payable) from Arm China. As of March 31, 2026, the Company had current contract liabilities of $30.3 million and non-current portion of contract liabilities of $23.3 million relating to Arm China. As of March 31, 2025, the Company had an amount due of $284.6 million ($294.5 million receivable less $9.9 million payable) from Arm China. As of March 31, 2025, the Company had current contract liabilities of $80.2 million and non-current portion of contract liabilities of $24.0 million relating to Arm China. For the fiscal years ended March 31, 2026 and 2025, the Company recognized $12.3 million and $16.0 million, respectively, for expected credit losses against earnings relating to Arm China. For the fiscal year ended March 31, 2024, the Company did not recognize any expected credit losses against earnings relating to Arm China. As of March 31, 2026 and 2025, the Company’s allowance for current expected credit losses related to Arm China was $28.3 million and $16.0 million, respectively, which is reflected in accounts receivable, net on the Consolidated Balance Sheets. See Note 10 - Equity Investments, for further details of the impact of Acetone Limited on the Company’s results. Other Entities Related by Virtue of Common Control by SoftBank Group During the fiscal years ended March 31, 2026 and 2025, the Company entered into related party transactions with an affiliate of SoftBank Group relating to licensing and service arrangements under the consulting agreement with SoftBank Group (the “Consulting Agreement”). Pursuant to statements of work entered into under the Consulting Agreement during the fiscal year ended March 31, 2025, as amended during the fiscal year ended March 31, 2026, the Company may earn fees for services provided. For the fiscal years ended March 31, 2026 and 2025, revenue from the licensing and servicing arrangements was $704.4 million and $145.5 million, respectively. As of March 31, 2026 and 2025, the Company had current contract assets of $645.8 million and $145.5 million, respectively, from the affiliate of SoftBank Group. In November 2025, SoftBank Group acquired all of the outstanding equity interests of Ampere, in which the Company previously had an equity investment and over which the Company had significant influence. The Company continues to have licensing and servicing arrangements with Ampere for which the Company may earn fees for services provided. For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized revenue of $3.6 million, $3.5 million and $49.3 million, respectively, from Ampere. Effective March 2026, the Company entered into a development agreement with Ampere (the “Ampere Development Agreement”), enabling Ampere to provide development services to the Company under one or more statements of work. For the fiscal year ended March 31, 2026, the Company did not recognize expenses under the Ampere Development Agreement. As of March 31, 2026, the Company had accounts receivable of $0.5 million, current contract assets of $0.5 million, and current contract liabilities of $5.4 million related to contracts with Ampere. As of March 31, 2025, the Company had accounts receivable of $0.7 million, current contract assets of $6.3 million, and current contract liabilities of $0.7 million related to contracts with Ampere. See Note 10 - Equity Investments, for further details on Ampere. The Company had revenue transactions with other entities by virtue of common control by SoftBank Group besides an affiliate of SoftBank Group and Ampere. For the fiscal years ended March 31, 2026 and 2025, the Company did not recognize material revenue or other income from other entities controlled by SoftBank Group besides an affiliate of SoftBank Group and Ampere. For the fiscal year ended March 31, 2024, the Company recognized revenue of $4.4 million from other entities controlled by SoftBank Group. As of March 31, 2026 and March 31, 2025, the Company did not have accounts receivable, contract assets, or contract liabilities balances on revenue or other income transactions with other entities by virtue of common control by SoftBank Group besides an affiliate of SoftBank Group and Ampere. Other Equity Investments The Company has investments in limited partnerships or certain limited liability companies that maintain a specific ownership account for each investor, for which the Company has more than virtually no influence (i.e., at least 3% to 5% ownership). For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized aggregate distributions, including liquidation proceeds, dividends and returns of capital from certain equity investments of $59.9 million, $8.2 million and $6.9 million, respectively. See Note 10 - Equity Investments, for further details. Linaro Limited Linaro Limited (“Linaro”) is a not-for-profit entity in which the Company was a member with significant influence. The Company resigned as a member of Linaro and no longer has significant influence in Linaro effective December 1, 2025. Therefore, Linaro is no longer considered a related party. Linaro continues to be a service partner to the Company. For the fiscal years ended March 31, 2026, 2025 and 2024, prior to resignation, the Company incurred subscription and other costs of $6.1 million, $10.4 million and $10.6 million, respectively, from Linaro. As of March 31, 2025, the Company had $0.7 million recorded in other current liabilities on the Consolidated Balance Sheets related to Linaro. In February 2023, the Company entered into an agreement with Linaro to sell certain net assets of the Company that meets the definition of a business in exchange for cash consideration of $4.0 million to be paid in equal annual installments over five years. As of March 31, 2026, the total unpaid purchase consideration remains in prepaid expenses and other current assets and other non-current assets on the Consolidated Balance Sheets; however, Linaro is no longer considered a related party. As of March 31, 2025, the total unpaid purchase consideration was $2.4 million, which was recorded in prepaid expenses and other current assets and other non-current assets on the Consolidated Balance Sheets. Loans to Related Parties As of March 31, 2025, the Company had a loan receivable of $16.6 million from Arduino, previously a related party. In October 2025, the Company received $16.9 million for the full repayment of the loan receivable from Arduino in connection with Arduino’s acquisition by a third party. Therefore, as of March 31, 2026, the Company did not have a loan receivable with Arduino. During the fiscal year ended March 31, 2026, the Company recognized a reversal for the current expected credit loss reserve with respect to its loan receivable from Arduino by $16.8 million in selling, general, and administrative expenses in the Consolidated Income Statements. As of March 31, 2026 and 2025, the Company had a loan receivable of $3.2 million with Cerfe Labs, Inc, a related party. The loan receivable with Cerfe Labs was fully reserved for under current expected credit loss reserve for the periods presented. See Note 11 - Financial Instruments, for further details regarding these loans. In December 2025, the Company received $39.3 million from the settlement of the convertible loan in Ampere. As of March 31, 2025, the outstanding balance of the convertible promissory note issued by Ampere, a related party, was $33.8 million. See Note 10 - Equity Investments, for further details on Ampere.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Fair Value - Schedule of Changes in Fair Value of Level 3 Financial Assets and Liabilities (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Equity Method Investments, Fair Value Option
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of financial assets at the beginning of the period	$ 200.0	$ 466.0	$ 482.0
Fair value losses recognized in the Consolidated Income Statements	0.0	(266.0)	(16.0)
Sale of equity investments	(143.0)	0.0	0.0
Fair value at the end of the period	57.0	200.0	466.0
Convertible loans receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of financial assets at the beginning of the period	34.0	32.0	31.0
Fair value losses recognized in the Consolidated Income Statements	5.3	1.8	1.0
Sale of equity investments	(39.0)	0.0	0.0
Fair value at the end of the period	$ 0.0	$ 34.0	$ 32.0

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2025	Mar. 31, 2026
DreamBig Semiconductor, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expected consideration to be transferred	$ 265.0
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Artisan Foundation IP Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gains on disposal		$ 131.0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]		Other non-operating income (loss), net

Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized computer software	$ 173.6	$ 86.2	$ 68.8
Capitalized computer software, amortization	$ 92.3	$ 79.8	$ 73.7

Share-based Compensation

12 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Share-based Compensation

15 - Share-based Compensation

The Company had the following share-based payment arrangements during the periods presented:

Restricted Share Units—2019 AEP

In December 2019, an RSU plan was established for all employees of the Company. Vesting of these RSUs under the 2019 AEP requires the continuous service of the employees through the vesting date, is subject to the achievement of a market condition target, and vesting occurs on the earliest of the following: (1) the occurrence of one of various events comprising a change in control of the Company, (2) an initial public offering, or (3) the passage of time with the date being March 9, 2026. The Company also maintains a subplan for employees of its subsidiary, Arm Israel, in which RSUs will be settled in cash at the vesting. Employees may elect not to participate in the 2019 AEP. For all periods presented prior to the IPO, a change in control or an initial public offering is generally not considered probable until it has occurred. These awards were expected to be cash settled and therefore were liability-classified. Post-IPO, the 2019 AEP vested on the occurrence of an “exit event” to the extent that the relevant vesting hurdle was met or exceeded. As of October 25, 2023, the Company had determined that the market condition for the 2019 AEP had been met and, therefore, all awards under the 2019 AEP vested at 100% in March 2024. The equity-classified awards were settled in ordinary shares of the Company at the vesting date and neither carry rights to dividends nor voting rights. The liability-classified awards for Arm Israel were settled in cash. The awards were forfeited if an employee left the Company before the RSUs vested. For all periods presented prior to IPO, the aggregate nominal amount of shares over which the Remuneration Committee of the Company’s Board of Directors (the “Remuneration Committee”) was able to grant awards under the 2019 AEP was limited so that awards did not exceed, at any time, an amount equal to 2.2 percent of the aggregate nominal amount of the Company’s fully diluted equity share capital. The Company did not grant further awards under the 2019 AEP after the IPO. As of March 31, 2026 and 2025, all RSUs under the 2019 AEP were vested and settled.

For the fiscal year ended March 31, 2024, the Company had $18.2 million payments arising from normal course vesting events for liability-classified share-based awards, representing the fair value of the vested RSUs.

In connection with the IPO, all RSUs previously issued under the 2019 AEP were modified to be settled in ordinary shares of the Company except for those awards granted to employees of Arm Israel. For those RSUs to be settled in ordinary shares, the Company accounted for this change as a modification in accordance with ASC 718, Compensation—Stock Compensation (“ASC 718”) and changed the classification of the awards from liability-classified to equity-classified. During the fiscal year ended March 31, 2024, as a result of the modification, the Company reclassified $306.6 million from the non-current portion of accrued compensation and share-based compensation to additional paid-in capital on the Consolidated Balance Sheets. The modification resulted in the incremental and accelerated share-based compensation cost of $217.2 million at the modification date which affected 5,251 employees. For the remaining RSUs granted to employees of Arm Israel, these awards remain liability-classified and the Company remeasured the RSUs at fair value at each reporting period through the date of settlement.

For the periods prior to the IPO, the weighted average fair value of the RSUs was measured using the Monte Carlo simulation model. The Monte Carlo methodology incorporates into the valuation all possible outcomes that could result in the vesting of the awards. Where relevant, the expected term used in the model has been adjusted based on the Company’s best estimate for the effects of non-transferability and exercise restrictions (including the probability of meeting market conditions attached to the RSUs).

The following table presents the assumptions used for the RSUs under the 2019 AEP in the periods prior to IPO in the fiscal year ended March 31, 2024:


	Fiscal Year Ended
	March 31, 2024
Weighted average share price	$	56.10
Expected volatility until liquidity event	40		%
Time to liquidity event	0.5
Dividend yield	0.00		%
Risk free interest rate	5.52		%

Restricted Share Units—2019 EIP

In April 2020, a RSU plan was put in place for certain of our executive officers. The vesting of these RSUs under the 2019 EIP requires the continuous service of the employees through the vesting date, was originally subjected to the achievement of a market-condition target, and vesting occurs on the earliest of the following: (1) the occurrence of one of various events comprising a change in control of the Company, (2) an initial public offering, or (3) the passage of time with the date being March 9, 2026. At inception of the plan, the market condition target was tied to the valuation of the Company upon vesting. In September 2022, the Company modified the 2019 EIP to remove the market conditions. Employees may elect not to participate in the 2019 EIP. For all periods presented prior to the IPO, a change in control or an initial public offering is generally not considered probable until it has occurred. These awards were expected to be cash settled and therefore were liability-classified. In connection with the IPO, the 2019 EIP awards vested and were settled in ordinary shares of the Company and neither carry rights to dividends nor voting rights. The awards were forfeited if an employee left the Company before the RSUs vested. For all periods presented prior to the IPO, the aggregate nominal amount of shares over which the Remuneration Committee was able to grant awards under the 2019 EIP was limited so that awards did not exceed, at any time, an amount equal to 0.3 percent of the aggregate nominal amount of the Company’s fully diluted equity share capital. The Company did not grant further awards under the 2019 EIP after the IPO. As of March 31, 2026 and 2025, all RSUs under the 2019 EIP were vested and settled.

The Company did not have any payments for liability-classified share-based awards under the 2019 EIP Plan for the fiscal years ended March 31, 2026, 2025 and 2024.

In connection with the IPO, all RSUs previously issued under the 2019 EIP were modified to be settled in ordinary shares of the Company. The Company accounted for this change as a modification in accordance with ASC 718 and changed the classification of the awards from liability-classified to equity-classified. During the fiscal year ended March 31, 2024, as a result of the modification, the Company reclassified $5.7 million from non-current portion of accrued compensation and

share-based compensation to additional paid-in capital on the Consolidated Balance Sheets. Upon the IPO, the awards under the 2019 EIP vested and the Company recognized accelerated share-based compensation cost of $4.1 million for awards outstanding prior to the IPO.

Prior to the IPO in the fiscal year ended March 31, 2024, the Company used the income approach and market-calibration approach based on comparable publicly traded companies in similar lines of businesses. Cash flow assumptions used in income approach considers historical and forecasted revenue, earnings before interest, taxes, depreciation and amortization (EBITDA) and other relevant factors.

Restricted Share Units—2022 RSU Plan

In June 2022, the 2022 RSU Plan was established to grant RSUs to all employees of the Company (“All Employee Awards”) and to grant two types of executive awards to certain of the Company’s executive officers (such awards, the “Annual Awards” and “Launch Awards” and collectively, the “Executive Awards”). The All Employee Awards and Executive Awards were historically disclosed separately due to pre-IPO presentation differences related to classification, but are now disclosed together as post-IPO all are equity-classified, as discussed in more detail below. The All Employee Awards vest in tranches, require continuous service through the vesting date, and are subject to graded vesting over time. At the time of issuance, the Company intended to settle the All Employee Awards in ordinary shares at the vesting date, and such RSU awards were accounted for as equity-classified awards. Launch Awards vest in tranches and require continuous service through the vesting dates and are subject to graded vesting over a period of three years. Annual Awards include a portion that vests over a three-year continuous service period and another portion that is subject to continuous service and satisfaction of certain Company performance conditions. The time-based portion of the Annual Awards vest over a three-year period. The Annual Awards that are subject to continuous service and satisfaction of certain Company performance conditions vest upon the satisfaction of performance metrics as established for each one-year performance period and have the potential to vest between 0% and 200% of the original fixed monetary amount of the award depending on the achievement of annual performance metrics. The 2022 RSU Plan allows for either cash or share settlement of the RSU awards by tranche at the discretion of the Remuneration Committee. For all periods presented prior to IPO, the aggregate nominal amount of shares over which the Remuneration Committee was able to grant awards under the 2022 RSU Plan was limited so that awards did not exceed, at any time, an amount equal to 4.0 percent of the aggregate nominal amount of the Company’s fully diluted equity share capital. The Company did not grant further awards under the 2022 RSU Plan after the IPO.

The 2022 RSU Plan provides vesting schedules applicable prior to and after an initial public offering. Upon the IPO, the All Employee Awards under the 2022 RSU Plan were accounted for using the vesting schedules applicable after an initial public offering which resulted in an acceleration of compensation cost. The Company accounted for the changes as a modification in accordance with ASC 718 and recorded $17.7 million of accelerated share-based compensation cost at the modification date which affected 5,041 employees.

In connection with the IPO, all Executive Awards previously issued under the 2022 RSU Plan were modified to be settled in ordinary shares of the Company. Given the awards were no longer expected to be settled in cash but rather expected to be settled in ordinary shares based on the IPO price of $51.00 per ADS, the modification resulted in a change to the classification of the Executive Awards from liability-classified to equity-classified. The Company accounted for this change as a modification in accordance with ASC 718. As a result of the modification, the Company reclassified $9.1 million and $20.2 million in current portion of accrued compensation and benefits and share-based compensation and non-current portion of accrued compensation and share-based compensation, respectively, to additional paid-in capital on the Consolidated Balance Sheets. The modification resulted in an issuance of 1,875,202 RSUs equal to the fixed monetary amount of all Executive Awards outstanding under the 2022 RSU Plan. Upon the occurrence of the IPO, the Company recognized accelerated share-based compensation cost of $9.8 million, for which the service-based vesting condition was satisfied or partially satisfied, at the modification date which affected 14 employees. As of March 31, 2026 and 2025, all the 2022 RSU Plan awards were expected to be settled in ordinary shares at the vesting date.

The table below identifies the award activity under the 2022 RSU Plan:


(in millions, except per award amount)	Awards	Weighted Average Grant Date Fair Value Per Award
Outstanding as of March 31, 2025 (1)	7	$	47.34

Vested	(6)	$	49.55

Outstanding and expected to vest as of March 31, 2026	1	$	59.59

(1) Awards and weighted average grant date per share exclude shares related to certain executive awards that currently have no grant date as the future performance objectives have not yet been defined and/or communicated to participants of the plan.

As of March 31, 2026, there was $31.1 million of total unrecognized compensation cost related to awards issued under the 2022 RSU Plan, which are expected to be recognized over a weighted-average period of 0.1 years and there were no liability-classified RSUs under the 2022 RSU Plan.

Prior to the IPO in the fiscal year ended March 31, 2024, the Company used the income approach and market-calibration approach based on comparable publicly traded companies in similar lines of businesses. Cash flow assumptions used in the income approach considers historical and forecasted revenue, earnings before interest, taxes, depreciation and amortization (EBITDA) and other relevant factors.

The following table presents the assumptions used for the RSUs under the 2022 RSU Plan in the periods prior to IPO in the fiscal year ended March 31, 2024:


	Fiscal Year Ended
	March 31, 2024
Average share price	$44.52 - $48.18
Transaction costs	2.50	%
Present value per RSU	$43.40 - $46.98
Time to liquidity event (in years)	0.5 - 1.0
Discount for lack of marketability	0.00% - 7.50%

The Arm Non-Executive Directors RSU Award Plan (“NED Plan”)

In September 2022, the Company established the NED Plan for non-executive directors. The RSU awards issued under the NED Plan (the “NED Awards”) are subject to time-based vesting and continued service of the non-executive directors. The NED Plan allows for either cash or share settlement of the awards at the discretion of the Remuneration Committee. As of March 31, 2026 and 2025, all RSUs under the NED Plan were vested and settled.

The number of RSUs granted and outstanding for the fiscal year ended March 31, 2024 was 31,806.

Omnibus Incentive Plan

In August 2023, the Company’s Board of Directors adopted the Arm Holdings plc 2023 Omnibus Incentive Plan (the “Omnibus Incentive Plan”), which became effective in September 2023. The Omnibus Incentive Plan allows for the grant of incentive awards to employees, executive directors, and non-employees, including non-employee directors and consultants of the Company and its subsidiaries. Participants may elect not to participate in the plan. The types of incentive awards granted under the Omnibus Incentive Plan is determined by the Company’s Board of Directors and the Remuneration Committee, and the Omnibus Incentive Plan allows for the grant of stock options, share appreciation rights (“SARs”), restricted shares, RSUs, performance stock units (“PSUs”), other awards of cash, shares or other property (which may include a specified cash amount that is payable in cash or shares, or awards tied to the appreciation in the value

of shares), dividends and dividend equivalents. Vesting conditions applicable to awards may be based on continued service, achievement of company, business unit or other performance objectives, or such other criteria as the Remuneration Committee may establish. The maximum number of ordinary shares that may be issued under the Omnibus Incentive Plan as approved at the time of adoption of the Omnibus Incentive Plan was equal to the sum of (i) 20,500,000 ordinary shares and (ii) an annual increase on April 1 of each year beginning on April 1, 2024 and ending on April 1, 2028, equal to the lesser of (A) 2% of the aggregate number of ordinary shares outstanding on March 31 of the immediately preceding fiscal year and (B) such smaller number of ordinary shares as determined by our Board of Directors or our Remuneration Committee. No more than 20,500,000 ordinary shares may be issued under the Omnibus Incentive Plan upon the exercise of incentive stock options.

In October 2023, the Company started to grant RSUs and PSUs under the Omnibus Incentive Plan to employees, including executives of the Company. The RSUs and PSUs granted neither carry rights to dividends nor voting rights until the shares are issued or transferred to the recipient. The Omnibus Incentive Plan allows for either cash or share settlement of the awards by tranche, if applicable, at the discretion of the Remuneration Committee. At the time of issuance, the Company intended to settle the RSUs and PSUs in shares at the vesting date and such awards are accounted for as equity-classified awards. The RSUs were granted to existing employees and new hires of the Company and its subsidiaries, Arm Israel and Arm France SAS and vest in tranches, require continuous service through the vesting date and are subject to graded vesting over a period of three to four years. RSUs granted to employees and new hires of subsidiaries in Israel and France substantially share the same terms as the existing RSUs under the 2022 RSU Plan with differences limited to the vesting schedules and, in the case of grants to hires of subsidiaries in France, holding period. PSUs were awarded to executives of the Company and include a portion that vests over a three-year continuous service period and another portion that is subject to continuous service and satisfaction of certain Company performance conditions. The time-based portion of the PSUs vest over a three-year period. The PSUs that are subject to continuous service and satisfaction of certain Company performance conditions vest upon the satisfaction of performance metrics as established for each one-year performance period and have the potential to vest between 0% and 200% of the original award amount depending on the achievement of annual performance metrics.

In accordance with the terms of the Omnibus Incentive Plan, on April 1, 2025, the total number of ordinary shares available for issuance under the Omnibus Incentive Plan and the ESPP (as defined below) increased by an aggregate of 8,452,110 ordinary shares, or 0.8% of the aggregate number of ordinary shares outstanding as of March 31, 2025, as determined by the Remuneration Committee.

Except for performance awards with specific performance criteria, the Company recognizes share based compensation cost using the straight-line method over the requisite service period of the award, net of estimated forfeitures. Awards are forfeited if an employee leaves the Company before the awards vest.

During the fiscal year ended March 31, 2026, the Company granted PSUs under the Omnibus Incentive Plan with financial, strategic, and relative total shareholder return (“Relative TSR”) as the performance measures. The portion of PSUs granted with Relative TSR as the performance measures are assessed over a three-year performance period relative to the S&P 500 IT Sector Index and have the potential to vest between 0% and 200% of the original award amount depending on the Relative TSR achievement. To determine the grant date fair value of the market conditions component of the awards with Relative TSR-based performance measures, a Monte Carlo simulation model is used. The Company recognizes compensation cost for the Relative TSR awards over the requisite service period based on the grant date fair value.

The table below identifies all award activity under the Omnibus Incentive Plan:


(in millions, except per award amount)	Awards (1)	Weighted Average Grant Date Fair Value Per Award (1)
Outstanding as of March 31, 2025	11	$	118.24
Granted	14	$	121.69
Vested	(5)	$	117.34
Cancelled and forfeited	(2)	$	124.91
Outstanding and expected to vest as of March 31, 2026	18	$	120.64

(1) Awards and weighted average grant date per award exclude shares related to PSUs that currently have no grant date as the future performance objectives have not yet been defined and/or communicated to participants of the plan.

Other than PSUs with Relative TSR-based performance measures, the Company uses the closing ADS price of the Company on the date of grant as the fair value of awards. As of March 31, 2026, there was $1,719.3 million of total unrecognized compensation cost related to awards issued under the Omnibus Incentive Plan, which is expected to be recognized over a weighted-average period of 1.2 years.

Employee Stock Purchase Plan

In August 2024 and September 2024, the Company’s Board of Directors adopted and the Company’s shareholders approved, respectively, the ESPP. The maximum number of shares that may be granted under the ESPP is equal to the number of shares available for issuance under the Omnibus Incentive Plan, and each share granted under the ESPP reduces the number of shares available for issuance under the Omnibus Incentive Plan and its sub-plans by one share. The ESPP provides for one or more offering periods, and each offering will be for any period of between six and 24 calendar months as determined by the Remuneration Committee. Subject to any limitations contained therein, the ESPP allows eligible employees to purchase the Company’s ordinary shares or ADSs through payroll deductions of up to 10% of eligible compensation, subject to a cap of $25,000 per year (as calculated based on applicable tax rules). Eligible employees may be granted ESPP options to acquire ordinary shares or ADSs at a fixed price, which may be set at a discount of up to 15% of the lesser of (1) the fair market value of the ordinary shares or ADSs on the day before the offering period start date or (2) the fair market value of the ordinary shares or ADSs on the day before the purchase date at the end of the offering period. Employees may withdraw from the ESPP during specified periods and receive a full refund of accumulated payroll contributions. Employees who cease working at the Company during an offering period are treated as withdrawing from the ESPP.

The Company used the Black-Scholes valuation model for the fiscal year ended March 31, 2026 to estimate the grant date fair value of shares granted to employees under the ESPP. The following table presents the assumptions used to estimate fair value:


Expected holding period (in years)	0.5
Risk-free interest rate	3.79% - 4.01%
Expected stock price volatility	55.00% - 60.00%
Dividend yield	—	%

The first purchase period under the ESPP commenced on March 1, 2025 and ended on August 31, 2025. As of March 31, 2026, there was $13.3 million of total unrecognized compensation cost related to the ESPP expected to be recognized over the remaining term of the offering period ending on August 31, 2026. As of March 31, 2026, 0.7 million ordinary shares or ADSs have been purchased under the ESPP.

Share-based Compensation Cost

A summary of share-based compensation cost recognized in the Consolidated Income Statements is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Cost of sales	$	29	$	26	$	41
Research and development	762		576		728
Selling, general and administrative	261		218		301
Pre-tax share-based compensation cost	$	1,052	$	820	$	1,070
Less: income tax effect	168		144		210
Net share-based compensation cost	$	884	$	676	$	860

The income tax benefit recognized related to awards vested during the fiscal years ended March 31, 2026, 2025 and 2024 was $48.2 million, $108.7 million and $206.2 million, respectively.

For the fiscal year ended March 31, 2026, $3.8 million of share‑based compensation cost was capitalized as internal‑use software. No share-based compensation cost was capitalized for the fiscal years ended March 31, 2025 and 2024.

Share-based Compensation - Narrative (Details)			1 Months Ended					12 Months Ended
Share-based Compensation - Narrative (Details)	Apr. 01, 2025 shares	Sep. 18, 2023 USD ($) employee $ / shares shares	Sep. 30, 2024 USD ($)	Aug. 31, 2024	Oct. 31, 2023	Aug. 31, 2023 shares	Jun. 30, 2022 executive_award	Mar. 31, 2026 USD ($) shares	Mar. 31, 2025 USD ($) shares	Mar. 31, 2024 USD ($) employee shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional paid-in capital								$ 3,467,000,000	$ 2,922,000,000
Staff costs: Share-based compensation cost (equity settled)								1,052,000,000	820,000,000	$ 1,070,000,000
Accrued compensation and benefits and share-based compensation increase (decrease)								154,000,000	140,000,000
Share based payment arrangement amount capitalized								3,800,000	0	0
Share-based compensation, tax benefit (expense)								48,200,000	108,700,000	206,200,000
IPO
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Sale of stock (in dollars per share) \| $ / shares		$ 51.00
2019 AEP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Staff costs: Share-based compensation cost (equity settled)										$ 217,200,000
Number of grantees affected by modification \| employee										5,251
2019 AEP \| Reclassification, Other Noncurrent Liabilities
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional paid-in capital										$ 306,600,000
Non-current portion of accrued compensation and share-based compensation increase (decrease)										(306,600,000)
2019 EIP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based awards, liability paid								0	$ 0	0
Staff costs: Share-based compensation cost (equity settled)		$ 4,100,000
2019 EIP \| Reclassification, Other Noncurrent Liabilities
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional paid-in capital										5,700,000
Non-current portion of accrued compensation and share-based compensation increase (decrease)										(5,700,000)
2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of executive awards \| executive_award							2
Omnibus Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized share-based compensation								$ 1,719,300,000
Unrecognized share-based compensation, recognition period								1 year 2 months 12 days
Shares authorized (in shares) \| shares						20,500,000
Aggregate increased ordinary shares (in shares) \| shares	8,452,110
Annual increase in shares authorized	0.80%					2.00%
Restricted Stock Units (RSUs) \| 2019 AEP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting								100.00%
Aggregate nominal amount, limit								2.20%
Share-based awards, liability paid										$ 18,200,000
Restricted Stock Units (RSUs) \| 2019 EIP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate nominal amount, limit								30.00%
Restricted Stock Units (RSUs) \| 2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate nominal amount, limit							4.00%
Accelerated share-based compensation		$ 17,700,000
Number of grantees affected by modification \| employee		5,041
Unrecognized share-based compensation, recognition period								1 month 6 days
Restricted Stock Units (RSUs) \| Arm Non-Executive Directors RSU Award Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding (in shares) \| shares										31,806
Granted (in shares) \| shares										31,806
Restricted Stock Units (RSUs) \| Omnibus Incentive Plan \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					3 years
Restricted Stock Units (RSUs) \| Omnibus Incentive Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					4 years
Restricted Stock Units, Launch Awards \| 2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period							3 years
Restricted Stock Units, Continuous Service \| 2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period							3 years
Restricted Stock Units, Time-Based \| 2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period							3 years
Performance Shares, Continuous Service And Performance Conditions \| 2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period							1 year
Performance Shares, Continuous Service And Performance Conditions \| Omnibus Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period					1 year
Performance Shares, Continuous Service And Performance Conditions \| Omnibus Incentive Plan \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting					0.00%
Performance Shares, Continuous Service And Performance Conditions \| Omnibus Incentive Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting					200.00%
Restricted Stock Units, Annual Awards \| 2022 RSU Plan \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting							0.00%
Restricted Stock Units, Annual Awards \| 2022 RSU Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting							200.00%
Executive Awards \| 2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Staff costs: Share-based compensation cost (equity settled)		$ 9,800,000
Number of grantees affected by modification \| employee		14
Vested (in shares) \| shares								(6,000,000)
Shares issued (in shares) \| shares		1,875,202
Unrecognized share-based compensation								$ 31,100,000
Outstanding (in shares) \| shares								1,000,000	7,000,000
Executive Awards \| 2022 RSU Plan \| Reclassification, Other Noncurrent Liabilities
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional paid-in capital		$ 20,200,000
Non-current portion of accrued compensation and share-based compensation increase (decrease)		(20,200,000)
Executive Awards \| 2022 RSU Plan \| Reclassification, Other Current Liabilities
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Additional paid-in capital		9,100,000
Accrued compensation and benefits and share-based compensation increase (decrease)		$ (9,100,000)
Performance Shares \| Omnibus Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					3 years
Performance Shares, Time Based \| Omnibus Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period					3 years
Performance Shares, Continuous Service And Relative TSR
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period								3 years
Performance Shares, Continuous Service And Relative TSR \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting								0.00%
Performance Shares, Continuous Service And Relative TSR \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting								200.00%
Employee Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized share-based compensation								$ 13,300,000
Share based compensation arrangement maximum employee subscription rate			10.00%
Maximum employee subscription amount			$ 25,000
Discount percent			15.00%
Shares issued in period (in shares) \| shares								700,000
Employee Stock \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Duration of each purchase period under the ESPP				6 months
Employee Stock \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Duration of each purchase period under the ESPP				24 months

Property and Equipment, Net (Tables)

12 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net

Estimated useful lives of the Company’s property and equipment are as follows:



Leasehold improvements			Shorter of 5 – 10 years or the remaining lease term
Equipment			3 – 7 years
Fixtures and vehicles			3 – 5 years

Information regarding property and equipment, net is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025

Leasehold improvements	$	218	$	167
Equipment	914		545
Fixtures and vehicles	63		47
Construction in progress	129		41
Total property and equipment, gross	1,324		800
Less: Accumulated depreciation	(552)		(446)
Total property and equipment, net	$	772	$	354

Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 599	$ 641
Accumulated Amortization	382	490
Net Carrying Value	217	151
Indefinite lived intangible assets
Intangible assets under development	13	0
Total intangible assets
Total intangible asset, Gross Carrying Amount	612	641
Total intangible asset, Accumulated Amortization	382	490
Total Intangible Asset, Net Carrying Value	230	151
Patents & licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	45	146
Accumulated Amortization	23	117
Net Carrying Value	$ 22	$ 29
Weighted Average Remaining Life	4 years 3 months 18 days	5 years
Total intangible assets
Total intangible asset, Accumulated Amortization	$ 23	$ 117
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	104	139
Accumulated Amortization	104	139
Net Carrying Value	0	0
Total intangible assets
Total intangible asset, Accumulated Amortization	104	139
Internal-use software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	450	356
Accumulated Amortization	255	234
Net Carrying Value	$ 195	$ 122
Weighted Average Remaining Life	2 years 10 months 24 days	2 years 1 month 6 days
Total intangible assets
Total intangible asset, Accumulated Amortization	$ 255	$ 234

Description of Business and Summary of Significant Accounting Policies - Schedule of Intangible Asset Useful Lives (Details)	Mar. 31, 2026
Patents and licenses \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	3 years
Patents and licenses \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	11 years
Internal-use software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	3 years
Internal-use software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	5 years
Developed technology \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	1 year
Developed technology \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	8 years
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	1 year
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	6 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Property and Equipment, Net

12 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

8 - Property and Equipment, Net

Information regarding property and equipment, net is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025

Leasehold improvements	$	218	$	167
Equipment	914		545
Fixtures and vehicles	63		47
Construction in progress	129		41
Total property and equipment, gross	1,324		800
Less: Accumulated depreciation	(552)		(446)
Total property and equipment, net	$	772	$	354

Depreciation expense for the fiscal years ended March 31, 2026, 2025 and 2024, was $122.6 million, $83.3 million and $71.0 million, respectively. There was no impairment of property and equipment for the fiscal years ended March 31, 2026, 2025 and 2024.

As of March 31, 2026 and 2025, the Company had ARO liabilities of $13.8 million and $12.8 million related to leasehold improvements, recorded in other current and other non-current liabilities on the Consolidated Balance Sheets. There were immaterial changes in ARO liabilities in the fiscal years ended March 31, 2026, 2025 and 2024.

As of March 31, 2026 and 2025, the Company had $5.5 million and $7.1 million, respectively, of retirement assets recorded in property and equipment, net on the Consolidated Balance Sheets.

Fair Value (Tables)

12 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s fair value hierarchy for assets and liabilities measured and recognized at fair value, excluding investments where the NAV practical expedient has been elected, on a recurring basis:


	As of March 31, 2026								As of March 31, 2025
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	2,456	$	—	$	—	$	2,456	$	1,914	$	—	$	—	$	1,914
Short-term investments (1)	850		—		—		850		740		—		—		740
Equity investments (2)	96		—		57		153		98		—		200		298
Available-for-sale debt securities	—		—		13		13		—		—		—		—
Convertible loans receivable	—		—		—		—		—		—		34		34
Foreign currency forward contracts	—		—		—		—		—		7		—		7
Total financial assets	$	3,402	$	—	$	70	$	3,472	$	2,752	$	7	$	234	$	2,993

Financial liabilities
Foreign currency forward contracts	$	—	$	10	$	—	$	10	$	—	$	2	$	—	$	2
Total financial liabilities	$	—	$	10	$	—	$	10	$	—	$	2	$	—	$	2

(1)Short-term investments represent term deposits with banks with a maturity between 3 and 12 months.

(2)In accordance with ASC Subtopic 820-10, Fair Value Measurements, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables summarize changes in the fair value, along with other activity associated with the Company’s Level 3 financial assets and liabilities. See below for a description of the valuation techniques and inputs used in the fair value measurement of Level 3 investments including equity method investments, convertible loans receivable, and currency exchange contracts.

Equity Method Investments


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Fair value of financial assets at the beginning of the period	$	200	$	466	$	482

Fair value losses recognized in the Consolidated Income Statements	—		(266)		(16)

Sale of equity investments	(143)		—		—
Fair value at the end of the period	$	57	$	200	$	466

Convertible Loans Receivable


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Fair value of financial assets at the beginning of the period	$	34	$	32	$	31


Settlement of convertible note receivable	(39)		—		—
Fair value gains recognized in the Consolidated Income Statements	5		2		1
Fair value at the end of the period	$	—	$	34	$	32

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following tables provide quantitative information related to certain key assumptions utilized in the valuation of equity method investments accounted for under the fair value option:

As of March 31, 2026

(in millions)

Fair Value

Valuation Technique

Unobservable Inputs

Range of Estimates

Equity Method Investments

$57

Acetone Limited – Market-Calibration or discounted cash flow

LTM Revenue Multiple

0.9x - 1.1x

As of March 31, 2025

(in millions)

Fair Value

Valuation Technique

Unobservable Inputs

Range of Estimates

Equity Method Investments

$200

Acetone Limited – Market-Calibration or discounted cash flow

LTM Revenue Multiple

1.1x - 1.3x

Ampere – PWER

Probability of exit event

100%

Time to future exit scenario

0.8 years

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Revenue - Schedule of Accounts Receivable, Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 20	$ 3	$ 3
Additional (reversal of) provision	11	17	0
Ending balance	$ 31	$ 20	$ 3

Balance Sheet Components - Schedule of Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Other Current Liabilities [Line Items]
Employee related payroll taxes and payables	$ 119	$ 200
Accrued expenses and fees	145	99
Electronic design automation liabilities	78	47
Trade payables (including payables to related parties of $20 and $11 as of March 31, 2026 and 2025, respectively)	80	63
Customer deposits	$ 0	$ 7
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total other current liabilities	Total other current liabilities
Finance lease liabilities	$ 25	$ 10
Total other current liabilities	447	426
Related Party
Other Current Liabilities [Line Items]
Trade payables (including payables to related parties of $20 and $11 as of March 31, 2026 and 2025, respectively)	20	11
Total other current liabilities	$ 20	$ 11

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Amount
United Kingdom statutory income tax rate	$ (289)	$ (180)	$ (53)
Research and development tax credits	25	85	94
Share-based compensation		251	206
Withholding tax		(97)	(122)
Other foreign jurisdictions		(10)	(14)
Tax credits
Foreign tax credit	62
Nontaxable or nondeductible items
Share-based compensation	34
Foreign tax deduction	36
Other	(6)
Changes in unrecognized tax benefits	(66)	19	0
Other Adjustments
Patent box benefit	86	38	(4)
Change in valuation allowance		0	(4)
Non-deductible/non-taxable items		(10)	(3)
Impact of U.K. rate change		(22)	(3)
Gains exempt from U.K. tax		(2)	(3)
Total income tax benefit (expense)	$ (253)	$ 72	$ 94
Percent
United Kingdom statutory income tax rate	25.00%
Research and development tax credits	(2.20%)
Tax credits
Foreign tax credit	(5.40%)
Nontaxable or nondeductible items
Share-based compensation	(2.90%)
Foreign tax deduction	(0.031)
Other	0.50%
Changes in unrecognized tax benefits	5.70%
Other Adjustments
Patent box benefit	(0.074)
Income tax benefit (expense)	21.90%
United States
Amount
State and local income taxes, net of federal income tax effect	$ 30
Research and development tax credits	35
Share-based compensation	25
Other	3
Withholding tax	$ (15)
Percent
State and local income taxes, net of federal income tax effect	(2.60%)
Share-based compensation	(2.20%)
Research and development tax credits	(3.00%)
Other	(0.30%)
Withholding tax	0.013
China
Amount
Withholding tax	$ (81)
Percent
Withholding tax	0.070
Singapore
Amount
Withholding tax	$ (18)
Percent
Withholding tax	0.016
South Korea
Amount
Withholding tax	$ (30)
Percent
Withholding tax	0.026
Taiwan
Amount
Withholding tax	$ (51)
Percent
Withholding tax	0.044
Other foreign jurisdictions
Amount
Other foreign jurisdictions	$ (33)
Percent
Other foreign jurisdictions	2.90%

Revenue - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Increase in contract with customer, asset	$ 1,436.2	$ 1,121.7
Contract assets, transfer to accounts receivable	1,127.3	709.8
Performance obligation satisfied in previous period	$ 2,616.9	$ 2,179.4	$ 1,866.6
Four Customers \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk		49.00%
Largest Customer \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	16.00%	17.00%	21.00%
Largest Customer \| Accounts Receivable \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	22.00%	26.00%
Second Largest Customer \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	14.00%	11.00%	11.00%
Second Largest Customer \| Accounts Receivable \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	12.00%	19.00%
Third Largest Customer \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	12.00%	11.00%	10.00%
Third Largest Customer \| Accounts Receivable \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	11.00%	12.00%
Fourth Largest Customer \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk		10.00%
Fourth Largest Customer \| Accounts Receivable \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	10.00%
Three Largest Customers \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	42.00%		42.00%

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Research and development tax credit receivables	$ 120	$ 103
Prepayments	169	107
Other receivables	69	46
Total prepaid expenses and other current assets	$ 358	$ 256

Intangible Assets, Net

12 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

7 - Intangible Assets, Net

Information related to intangible assets is as follows:


	As of March 31,
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Value				Weighted Average Remaining Life
(in millions except for years)	2026		2025		2026		2025		2026		2025		2026	2025
Patents & licenses	$	45	$	146	$	23	$	117	$	22	$	29	4.3	5.0
Developed technology	104		139		104		139		—		—		—	—

Internal-use software	450		356		255		234		195		122		2.9	2.1
Intangible assets subject to amortization	599		641		382		490		217		151
Intangible assets under development	13		—		—		—		13		—		—	—
Total intangible assets	$	612	$	641	$	382	$	490	$	230	$	151

Information regarding amortization expense for intangible assets is as follows:


	Fiscal Years Ended March 31,
(in millions)	2026		2025		2024
Cost of sales	$	2	$	2	$	6
Research and development	79		64		57
Selling, general and administrative	18		21		23
Total amortization expense	$	99	$	87	$	86

The Company capitalized $173.6 million, $86.2 million and $68.8 million, and amortized $92.3 million, $79.8 million and $73.7 million of internal-use software in the fiscal years ended March 31, 2026, 2025 and 2024, respectively.

Estimated future amortization of intangible assets subject to amortization is as follows:


(in millions)	As of March 31, 2026
2027	$	98
2028	51
2029	33
2030	31
2031 and thereafter	4

Total future amortization expense	$	217

Fair Value - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
Fair Value - Narrative (Details) - USD ($)	Dec. 31, 2025	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible promissory note		$ 0			$ 29,000,000.0
Proceeds from settlement of loans, including convertible loans		$ 56,000,000	$ 0	$ 0
Ampere
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Convertible promissory note					$ 29,000,000.0
Ampere \| Convertible loans receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from settlement of loans, including convertible loans	$ 39,300,000
Ampere
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from sale of equity method investments	$ 143,400,000

Cover Page	12 Months Ended
Cover Page	Mar. 31, 2026 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Current Fiscal Year End Date	--03-31
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-41800
Entity Name	ARM HOLDINGS PLC /UK
Entity Incorporation, State or Country Code	X0
Entity Address, Address Line One	110 Fulbourn Road
Entity Address, City or Town	Cambridge
Entity Address, Postal Zip Code	CB1 9NJ
Entity Address, Country	GB
Country Region	44
City Area Code	(1223)
Local Phone Number	400 400
Title of 12(b) Security	American Depositary Shares, each representing one Ordinary Share, nominal value £0.001 per share
Trading Symbol	ARM
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	1,064,055,252
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Central Index Key	0001973239
Document Fiscal Year End Focus	2026
Document Fiscal Period Focus	FY
Amendment Flag	false
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	110 Fulbourn Road
Entity Address, City or Town	Cambridge
Entity Address, Postal Zip Code	CB1 9NJ
Entity Address, Country	GB
City Area Code	(1223)
Local Phone Number	400 400
Contact Personnel Name	Spencer Collins

Income Taxes - Schedule of Components of Income Before Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Income Tax Disclosure [Abstract]
United Kingdom	$ 828	$ 526	$ 139
Foreign	329	194	73
Income (loss) before income taxes	$ 1,157	$ 720	$ 212

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

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+ Details

Description of Business and Summary of Significant Accounting Policies - Narrative (Details)		12 Months Ended
	Sep. 18, 2023 $ / shares shares	Mar. 31, 2026 USD ($) reporting_unit	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2021 USD ($)
Subsidiary, Sale of Stock [Line Items]
Convertible loans receivable		$ 0			$ 29,000,000.0
Number of reporting units \| reporting_unit		1
Goodwill impairment		$ 0	$ 0	$ 0
Contract with customer, payment required		60 days
Government grants recognized		$ 148,900,000	$ 114,200,000	$ 107,900,000
Minimum
Subsidiary, Sale of Stock [Line Items]
License arrangement term		3 years
Version extension release period		2 years
Minimum \| Internal-use software
Subsidiary, Sale of Stock [Line Items]
Intangible assets, useful lives		3 years
Maximum
Subsidiary, Sale of Stock [Line Items]
License arrangement term		20 years
Version extension release period		3 years
Maximum \| Internal-use software
Subsidiary, Sale of Stock [Line Items]
Intangible assets, useful lives		5 years
IPO
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares) \| shares	102,500,000
Sale of stock (in dollars per share) \| $ / shares	$ 51.00
Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Shares issued in transaction (in shares) \| shares	7,000,000

Equity Investments

12 Months Ended

Mar. 31, 2026

Investments, All Other Investments [Abstract]

Equity Investments

10 - Equity Investments

A summary of the components of equity investments is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Equity method investments under fair value option	$	148	$	300
Equity investments in publicly listed companies	96		98
Equity method investments under equity method	13		16
Non-marketable equity securities	130		151
Total equity investments	$	387	$	565

Income (loss) from equity investments, net is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Equity investments in publicly listed companies	$	(6)	$	43	$	—
Equity method investments (1)	(5)		(274)		(17)
Non-marketable equity securities (includes NAV)	25		(6)		(3)
Total income (loss) from equity investments, net	$	14	$	(237)	$	(20)

Equity Method Investments

Details of the Company’s equity method investments as of March 31, 2026 are as follows:

Investments under equity method of accounting:


Name						Ownership Interest %
Arm IOT Fund LP (Taiwan)						25.8%
Accelerator Advisory Limited(1)						16.1%
HOPU-ARM Holding Company Limited(2)						10.0%
DeepTech Labs Fund 1 LP						37.0%
Socratic Partners I LP						3.2%

Investments in a limited liability company that maintains a specific ownership or limited partnerships which the Company has more than virtually no influence (i.e., at least 3% to 5% ownership) over the investee are accounted for using the equity method.

Investments where fair value option elected (including those under the NAV practical expedient):


Name						Ownership Interest %
Acetone Limited						10.0%
China Walden Ventures Investments II, L.P. —NAV						7.5%
China Walden Ventures Investments III, L.P. —NAV						8.1%
HOPU-ARM Innovation Fund, L.P. —NAV						5.1%
Catapult Ventures I, L.P. —NAV						18.1%

The Company elected the fair value option to account for certain equity method investments in Acetone Limited and Ampere. See discussion below, along with Note 13 - Fair Value, for further information.

For the fiscal years ended March 31, 2026, 2025 and 2024, income (loss) from equity method investments not accounted under the fair value option or the NAV practical expedient was immaterial.

The Company holds equity method investments in funds accounted for under the fair value option that apply the NAV practical expedient. The estimated fair values of the Company’s equity securities at fair value that qualify for the NAV practical expedient were provided by the funds based on the indicated market values of the underlying assets or investment portfolios. As of March 31, 2026 and 2025, the carrying value of equity method investments under the fair value option measured at NAV was $91.3 million and $100.3 million, respectively.

For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized losses from changes in fair value of $6.7 million, $6.0 million, and $2.8 million, respectively, for equity method investments accounted for under the NAV practical expedient. Changes in fair value are recorded through income (loss) from equity investments, net in the Consolidated Income Statements.

Acetone Limited

As of March 31, 2026 and 2025, the carrying value of the Company’s equity method investment in Acetone Limited was $56.5 million. For the fiscal year ended March 31, 2026, the Company did not recognize fair value losses with respect to its investment in Acetone Limited. For the fiscal years ended March 31, 2025 and 2024, the Company recognized fair value losses with respect to its investment in Acetone Limited of $20.0 million and $15.9 million, respectively, in income (loss) from equity investments, net in the Consolidated Income Statements.

Ampere

On March 19, 2025, SoftBank Group Corp. (“SoftBank Group”) announced that it entered into an agreement to acquire all of the outstanding equity interests of Ampere. The transaction closed in November 2025. In December 2025, the Company, as a minority shareholder of Ampere, received $143.4 million in gross proceeds for its equity interest in Ampere and $39.3 million from the settlement of the convertible promissory note with Ampere.

As of March 31, 2025, the carrying value of the Company’s equity method investment in Ampere was $143.4 million. As of March 31, 2026, the Company’s equity method investment in Ampere was no longer outstanding as a result of SoftBank Group’s acquisition of all of the outstanding equity interests of Ampere. For the fiscal years ended March 31, 2026 and 2024, the Company did not recognize any fair value gains or losses with respect to its equity method investment in Ampere in the Consolidated Income Statements. For the fiscal year ended March 31, 2025, the Company recognized fair value losses with respect to its investment in Ampere of $246.4 million in income (loss) from equity investments, net in the Consolidated Income Statements.

As of March 31, 2026, the Company had no outstanding balance related to the convertible promissory note with Ampere. As of March 31, 2025, the outstanding balance of the convertible promissory note with Ampere was $33.8 million, which is included in other non-current assets on the Consolidated Balance Sheets.

Equity investments in publicly listed companies

As of March 31, 2026 and March 31, 2025, the carrying value of the Company’s equity investments in publicly listed companies was $96.1 million and $97.9 million, respectively. For the fiscal years ended March 31, 2026 and 2025, the Company recognized fair value gains and (losses) with respect to its equity investments in publicly listed companies of $(5.6) million and $42.6 million, respectively, in income (loss) from equity investments, net in the Consolidated Income Statements.

Non-marketable Equity Securities

Non-marketable securities are those for which the Company does not have significant influence or control. These represent either direct or indirect, through a capital fund, investments in unlisted early-stage development enterprises which are generating value for shareholders through research and development activities. The Company holds equity interests in certain funds which are accounted for under the NAV practical expedient. As of March 31, 2026 and 2025, the carrying value of assets measured at NAV was $27.2 million and $15.7 million, respectively. For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized gains and (losses) of $5.1 million, $(2.2) million and $0.5 million, respectively, from changes in fair value for non-marketable securities accounted for under the NAV practical expedient.

Historically, the Company had an unrecognized trade receivable with a customer given the collectability of substantially all of the consideration was not probable. In the fiscal year ended March 31, 2024, the Company invested in non-marketable preferred stock from the customer in exchange for the conversion of the trade receivables for $4.6 million. Currently, the Company does not recognize any revenue and receivables due to not meeting the collectability criterion under ASC 606, Revenue from Contracts with Customers. The Company does not have significant influence or control over the customer and elected to apply the measurement alternative for this investment.

As of March 31, 2026 and March 31, 2025, the carrying value of the Company’s preference shares of Kigen (UK) Limited (“Kigen”), an entity indirectly partially owned by SoftBank Vision Fund L.P., was $16.4 million and $15.0 million, respectively. During the fiscal year ended March 31, 2026, the Company invested another $1.4 million in cash in exchange for preference shares of Kigen. The preference shares are convertible into common shares of Kigen and are entitled to full dividends, distribution and voting rights. The Company does not have significant influence or control over Kigen and elected to apply the measurement alternative for this investment.

The Company elected to apply the measurement alternative to all other non-marketable equity securities. Under the measurement alternative, these equity securities are recorded at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes in orderly transactions.

The components of gains and (losses), which primarily include unrealized gains and losses on non-marketable securities inclusive of those measured under the NAV practical expedient, are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Observable price adjustments on non-marketable equity securities (includes NAV)	$	25	$	(2)	$	—
Impairment of non-marketable equity securities	—		(4)		(3)

Total income (loss) from equity investments in non-marketable securities, net	$	25	$	(6)	$	(3)

Arduino SA (“Arduino”) was an investment in which the Company had significant influence. The Company no longer has significant influence in Arduino in connection with its acquisition by a third party. Therefore, Arduino is no longer considered a related party. During the fiscal year ended March 31, 2026, the Company received $50.5 million in liquidation proceeds from Arduino.

All equity method investments held by the Company are considered long-term to enable ecosystem growth and are non-current assets. For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized $6.1 million, $7.5 million and $5.2 million, respectively, in dividends from equity investments measured using the NAV practical expedient. The total amount of financial commitments to existing investees of the Company not provided for in the consolidated financial statements was $25.6 million and $28.1 million as of March 31, 2026 and 2025, respectively.

Financial Instruments - Narrative (Details) - USD ($)	1 Months Ended		12 Months Ended
Financial Instruments - Narrative (Details) - USD ($)	Dec. 31, 2025	Oct. 31, 2025	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Proceeds from settlement of loans, including convertible loans			$ 56,000,000	$ 0	$ 0
Convertible loans receivable			0			$ 29,000,000.0
Debt securities, available-for-sale, noncurrent	$ 13,800,000		13,200,000
Level 3
Financing Receivable, Allowance for Credit Loss [Line Items]
Convertible loans receivable			0	34,000,000
Convertible loans receivable \| Level 3
Financing Receivable, Allowance for Credit Loss [Line Items]
Gains on convertible loan receivable			5,300,000	1,800,000	$ 1,000,000.0
Loans receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and other receivables carried at amortized cost			10,000,000	27,000,000
Other receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and other receivables carried at amortized cost			7,300,000	7,100,000
Arduino
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan receivable, credit loss reversal			$ 16,800,000
Proceeds from settlement of loans, including convertible loans		$ 16,900,000
Ampere
Financing Receivable, Allowance for Credit Loss [Line Items]
Convertible loans receivable						$ 29,000,000.0
Ampere \| Convertible loans receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Proceeds from settlement of loans, including convertible loans	39,300,000
Arduino
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan receivable, noncurrent				$ 16,600,000
Cerfe Labs, Inc. \| Loans receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan term			4 years	4 years
Loans and other receivables carried at amortized cost			$ 3,200,000	$ 3,200,000
Ampere \| Convertible loans receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Proceeds from settlement of loans, including convertible loans	$ 39,300,000

Description of Business and Summary of Significant Accounting Policies - Schedule of Property and Equipment Useful Lives (Details)	Mar. 31, 2026
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	10 years
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	3 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	7 years
Fixtures and vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	3 years
Fixtures and vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful lives	5 years

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Mar. 31, 2026
Equity [Abstract]
Shareholders' Equity	14 - Shareholders’ Equity Employee Benefit Trust In September 2023, the Company established the EBT, constituted by a trust deed entered into by the Company and a professional trustee, with the principal purpose to facilitate the efficient and flexible settlement of share-based compensation arrangements with employees. The Company has the power to appoint and remove the trustee and therefore, consolidates the trust. The EBT may acquire newly issued ordinary shares or ADSs at a nominal value or the trustee of the EBT has the power to acquire ordinary shares or ADSs of the Company in the open market, which purchases may be funded by one or more loans from the Company to the EBT or non-repayable gifts made by the Company to the EBT. As of March 31, 2026 and 2025, the EBT held a nominal number of ADSs, which were purchased from the Company at par value. The market value of ADSs held by the EBT as of March 31, 2026 and 2025 was $2.2 million and $0.2 million, respectively. The ADSs held by the EBT as of March 31, 2025 were, and the ADSs held by the EBT as of March 31, 2026 are expected to be, transferred out of the EBT in order to settle vesting of share-based compensation for employees. As the EBT is consolidated by the Company, ordinary shares or ADSs held by the EBT are considered authorized and issued but not outstanding for the computation of earnings per share.

- Definition

The entire disclosure for equity.

+ References

+ Details

Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Schedule of Loans and Other Receivables Carried at Amortized Cost

Loans and other receivables carried at amortized cost, included in prepaid expenses and other current assets and other non-current assets on the Consolidated Balance Sheets, is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Loans and other receivables carried at amortized cost
Loans receivable	$	10	$	27
Other receivables	17		11
Allowance for current expected credit losses	(3)		(20)
Loans and other receivables carried at amortized cost, net	$	24	$	18

Segment and Geographic Information - Narrative (Details)	12 Months Ended
	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Retirement Benefits Plans (Details) - USD ($) $ in Millions	12 Months Ended
Retirement Benefits Plans (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Retirement Benefits [Abstract]
Defined contribution plan, expense	$ 138.9	$ 125.7	$ 96.7
Accrued defined contribution plan	$ 9.1	$ 15.1

Share-based Compensation (Tables)

12 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Unit Activity

The following table presents the assumptions used for the RSUs under the 2019 AEP in the periods prior to IPO in the fiscal year ended March 31, 2024:


	Fiscal Year Ended
	March 31, 2024
Weighted average share price	$	56.10
Expected volatility until liquidity event	40		%
Time to liquidity event	0.5
Dividend yield	0.00		%
Risk free interest rate	5.52		%

The following table presents the assumptions used for the RSUs under the 2022 RSU Plan in the periods prior to IPO in the fiscal year ended March 31, 2024:


	Fiscal Year Ended
	March 31, 2024
Average share price	$44.52 - $48.18
Transaction costs	2.50	%
Present value per RSU	$43.40 - $46.98
Time to liquidity event (in years)	0.5 - 1.0
Discount for lack of marketability	0.00% - 7.50%

Schedule of Award Activity Under the 2022 RSU Plan

The table below identifies the award activity under the 2022 RSU Plan:


(in millions, except per award amount)	Awards	Weighted Average Grant Date Fair Value Per Award
Outstanding as of March 31, 2025 (1)	7	$	47.34

Vested	(6)	$	49.55

Outstanding and expected to vest as of March 31, 2026	1	$	59.59

Schedule of Omnibus Incentive Plan

The table below identifies all award activity under the Omnibus Incentive Plan:


(in millions, except per award amount)	Awards (1)	Weighted Average Grant Date Fair Value Per Award (1)
Outstanding as of March 31, 2025	11	$	118.24
Granted	14	$	121.69
Vested	(5)	$	117.34
Cancelled and forfeited	(2)	$	124.91
Outstanding and expected to vest as of March 31, 2026	18	$	120.64

Schedule of Assumptions used to Estimate Fair Value

The following table presents the assumptions used to estimate fair value:


Expected holding period (in years)	0.5
Risk-free interest rate	3.79% - 4.01%
Expected stock price volatility	55.00% - 60.00%
Dividend yield	—	%

Schedule of Share-Based Compensation Cost

A summary of share-based compensation cost recognized in the Consolidated Income Statements is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Cost of sales	$	29	$	26	$	41
Research and development	762		576		728
Selling, general and administrative	261		218		301
Pre-tax share-based compensation cost	$	1,052	$	820	$	1,070
Less: income tax effect	168		144		210
Net share-based compensation cost	$	884	$	676	$	860

Fair Value - Schedule of Equity Method Investments Key Assumptions (Details) $ in Millions	Mar. 31, 2026 USD ($)	Mar. 31, 2025 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 148	$ 300
Level 3
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 57	$ 200
Level 3 \| Valuation Technique, Probability-Weighted, Expected Return
Schedule of Equity Method Investments [Line Items]
Equity method investments, fair value option, time to future exit		9 months 18 days
Level 3 \| Valuation Technique, Probability-Weighted, Expected Return \| Measurement Input, Probability Of IPO, Time To Future Exit Scenario
Schedule of Equity Method Investments [Line Items]
Equity method investments, fair value option, measurement input		1
Level 3 \| Minimum \| Valuation Technique, Discounted Cash Flow \| LTM Revenue Multiple
Schedule of Equity Method Investments [Line Items]
Equity method investments, fair value option, measurement input	0.9	1.1
Level 3 \| Maximum \| Valuation Technique, Discounted Cash Flow \| LTM Revenue Multiple
Schedule of Equity Method Investments [Line Items]
Equity method investments, fair value option, measurement input	1.1	1.3

Financial Instruments

12 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Financial Instruments

11 - Financial Instruments

Loans and Other Receivables

Loans and other receivables carried at amortized cost, included in prepaid expenses and other current assets and other non-current assets on the Consolidated Balance Sheets, is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Loans and other receivables carried at amortized cost
Loans receivable	$	10	$	27
Other receivables	17		11
Allowance for current expected credit losses	(3)		(20)
Loans and other receivables carried at amortized cost, net	$	24	$	18

The allowance for current expected credit losses reflects the Company’s best estimate of expected credit losses of the receivables portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions.

Loans receivable

As of March 31, 2025, the Company had a loan receivable of $16.6 million from Arduino, previously a related party, that was fully reserved for under the current expected credit loss reserve. During the fiscal year ended March 31, 2026, the Company recognized a reversal for the current expected credit loss reserve with respect to its loan receivable from Arduino of $16.8 million in selling, general, and administrative expenses in the Consolidated Income Statements. In October 2025, the Company received $16.9 million for the full repayment of the loan receivable from Arduino in connection with Arduino’s acquisition by a third party.

As of March 31, 2026 and 2025, the Company had a four-year loan of $3.2 million issued to Cerfe Labs, Inc, a related party, that was fully reserved for under the current expected credit loss reserve for the periods presented.

The remaining loans receivables balance as of March 31, 2026 and 2025 was $7.3 million and $7.1 million, respectively.

Other receivables

As of March 31, 2026 and 2025, balances included in other receivables pertain to lease deposits and other receivables.

Convertible Loans Receivable

In December 2021, the Company acquired a $29.0 million principal balance convertible loan in Ampere, which is included in other non-current assets on the Consolidated Balance Sheets. The Company elected the fair value option to measure this convertible loan receivable for which changes in fair value are recorded in other non-operating income (loss), net in the Consolidated Income Statements. In December 2025, the Company received $39.3 million from the settlement of the convertible loan in Ampere. For the fiscal years ended March 31, 2026, 2025 and 2024, the Company recognized gains on this convertible loan receivable of $5.3 million, $1.8 million and $1.0 million, respectively.

Available-For-Sale Debt Securities

In December 2025, the Company completed a transaction to acquire an equity stake in a private entity by subscribing to its preferred shares and paid total consideration of $13.8 million. The Company recorded this investment as an available-for-sale debt security in other non-current assets on the Consolidated Balance Sheets since the preferred shares purchased by the Company are redeemable at the option of the Company and are not in the substance of common stock. As of March 31, 2026, the fair value of available-for-sale debt security is $13.2 million.

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	22 - Subsequent Events In accordance with the terms of the Omnibus Incentive Plan, the total number of ordinary shares available for issuance under the Omnibus Incentive Plan and the ESPP increased by an aggregate of 13,821,271 ordinary shares on April 1, 2026, as determined by the Remuneration Committee. In April 2026, the Company purchased an additional $67.9 million of Raspberry Pi Holdings plc’s ordinary shares. In April 2026, the Company entered into an amendment with a cloud computing web services provider to increase the total purchase commitment by $305.0 million through 2029.

Share-based Compensation - Schedule of Restricted Stock Unit Activity (Details) - 2022 RSU Plan - Executive Awards - $ / shares shares in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	7
Vested (in shares)	(6)
Outstanding, ending of period (in shares)	1
Weighted Average Grant Date Fair Value Per RSU
Outstanding (in dollars per share)	$ 59.59	$ 47.34
Vested (in dollars per share)	$ 49.55

Balance Sheet Components

12 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

3 - Balance Sheet Components

Certain balance sheet components are as follows:

Prepaid expenses and other current assets consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Research and development tax credit receivables	$	120	$	103
Prepayments	169		107
Other receivables	69		46
Total prepaid expenses and other current assets	$	358	$	256

Accrued compensation and benefits consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Accrued bonus, commissions, and cash awards	$	26	$	24
Accrued vacation and sabbatical	114		99
Accrued salaries and fringe benefits	7		12
Employee Stock Purchase Plan liability	7		5

Total accrued compensation and benefits	$	154	$	140

Other current liabilities consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Employee related payroll taxes and payables (1)	$	119	$	200
Accrued expenses and fees	145		99
Electronic design automation liabilities	78		47
Trade payables (including payables to related parties of $20 and $11 as of March 31, 2026 and 2025, respectively)	80		63
Customer deposits	—		7
Finance lease liabilities	25		10
Total other current liabilities	$	447	$	426

Other non-current liabilities consist of:


	As of
(in millions)	March 31, 2026		March 31, 2025
Electronic design automation liabilities	$	97	$	40
Other non-current liabilities	64		39
Total other non-current liabilities	$	161	$	79

Intangible Assets, Net - Schedule of Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 99	$ 87	$ 86
Cost of sales
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	2	2	6
Research and development
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	79	64	57
Selling, general and administrative
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 18	$ 21	$ 23

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Derivatives - Narrative (Details) € in Millions, £ in Millions, $ in Millions	Mar. 31, 2026 USD ($)	Mar. 31, 2026 GBP (£)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 GBP (£)	Mar. 31, 2025 EUR (€)
Designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount \| £		£ 405.0		£ 335.0
Derivative, fair value	$ (9.5)		$ 4.7
Non-designated hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 0.0		5.0		€ 5.0
Derivative, fair value			$ 0.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Derivatives - Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax [Abstract]
Change in gains (losses) recognized in accumulated other comprehensive income (loss) on cash flow hedge derivatives	$ 8	$ 9	$ 8
(Gains) losses reclassified from accumulated other comprehensive income (loss) into income	(22)	(4)	(18)
Income tax benefit (expense) on cash flow hedges	4	(2)	2
Net change of the effective portion of designated cash flow hedges	(10)	3	(8)
Research and development
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax [Abstract]
(Gains) losses reclassified from accumulated other comprehensive income (loss) into income	(14)	(2)	(10)
Selling, general and administrative expenses
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax [Abstract]
(Gains) losses reclassified from accumulated other comprehensive income (loss) into income	$ (8)	$ (2)	$ (8)

Balance Sheet Components - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued bonus, commissions, and cash awards	$ 26	$ 24
Accrued vacation and sabbatical	114	99
Accrued salaries and fringe benefits	7	12
Employee Stock Purchase Plan liability	7	5
Total accrued compensation and benefits	$ 154	$ 140

Intangible Assets, Net - Schedule of Future Amortization (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
2027	$ 98
2028	51
2029	33
2030	31
2031 and thereafter	4
Net Carrying Value	$ 217	$ 151

Balance Sheet Components - Schedule of Other Noncurrent Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Electronic design automation liabilities	$ 97	$ 40
Other non-current liabilities	64	39
Total other non-current liabilities	$ 161	$ 79

Segment and Geographic Information - Schedule of Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,220	$ 714
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	628	444
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	438	197
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 154	$ 73

Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue	$ 4,920	$ 4,007	$ 3,233
Over-time revenues
Disaggregation of Revenue [Line Items]
Revenue	1,080	467	121
Point-in-time revenues
Disaggregation of Revenue [Line Items]
Revenue	1,227	1,372	1,310
Nonrelated Party
Disaggregation of Revenue [Line Items]
Revenue	3,421	3,184	2,509
Related Party
Disaggregation of Revenue [Line Items]
Revenue	1,499	823	724
License and Other Revenue
Disaggregation of Revenue [Line Items]
Revenue	2,307	1,839	1,431
License and Other Revenue \| Nonrelated Party
Disaggregation of Revenue [Line Items]
Revenue	1,298	1,421	1,051
License and Other Revenue \| Related Party
Disaggregation of Revenue [Line Items]
Revenue	1,009	418	380
Royalty Revenue
Disaggregation of Revenue [Line Items]
Revenue	2,613	2,168	1,802
Royalty Revenue \| Nonrelated Party
Disaggregation of Revenue [Line Items]
Revenue	2,123	1,763	1,458
Royalty Revenue \| Related Party
Disaggregation of Revenue [Line Items]
Revenue	$ 490	$ 405	$ 344

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2026
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	San Jose, California
Auditor Firm ID	34

Revenue - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 1,331	$ 1,127
Allowance for current expected credit losses	(31)	(20)	$ (3)	$ (3)
Total accounts receivable, net	$ 1,300	$ 1,107

Property and Equipment, Net - Narrative (Details) - USD ($)	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Property, Plant and Equipment [Line Items]
Depreciation	$ 122,600,000	$ 83,300,000	$ 71,000,000.0
Impairment of long-lived assets	0	0	0
Asset retirement obligation	13,800,000	12,800,000
Changes in ARO liabilities		0	$ 0
Total property and equipment, net	772,000,000	354,000,000
Retirement Assets
Property, Plant and Equipment [Line Items]
Total property and equipment, net	$ 5,500,000	$ 7,100,000

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 904	$ 792	$ 306
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	8	(2)	3
Net change of the effective portion of designated cash flow hedges	(10)	3	(8)
Total comprehensive income (loss)	$ 902	$ 793	$ 301

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Goodwill	12 Months Ended
Goodwill	Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	6 - Goodwill As of March 31, 2026 and 2025, the Company had a goodwill balance of $1,623.2 million and $1,620.0 million, respectively. The period-over-period changes in goodwill for the fiscal years ended March 31, 2026 and 2025 were due to foreign currency translation adjustments. The Company did not record any goodwill impairment for the fiscal years ended March 31, 2026, 2025 and 2024.

- Definition

The entire disclosure for goodwill.

+ References + Details

Income Taxes - Schedule of Changes in Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Unrecognized Tax Benefits [Roll Forward]
Gross unrecognized tax benefits—April 1	$ 101	$ 83	$ 62
Gross increases—tax positions in prior period	88	0	5
Gross decreases—tax positions in prior period	(12)	(11)	(1)
Gross increases—tax positions in current period	23	31	19
Settlements	0	(2)	0
Lapse of statute of limitations	0	0	(1)
Foreign exchange	0	0	(1)
Gross unrecognized tax benefits— March 31	$ 200	$ 101	$ 83

Leases - Schedule of Lease Maturity (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Operating Leases
2027	$ 50
2028	56
2029	57
2030	52
2031	48
Thereafter	286
Total lease payments	549
Less imputed interest	(117)
Total	432	$ 346
Less: current portion of lease liabilities	(39)	(30)
Non-current portion of lease liabilities	393	316
Finance Leases
2027	26
2028	21
2029	15
2030	0
2031	0
Thereafter	0
Total lease payments	62
Less imputed interest	(3)
Total finance lease liabilities	59	25
Less: current portion of lease liabilities	(25)	(10)
Non-current portion of lease liabilities	$ 34	$ 15

Equity Investments - Schedule of Gains (Losses) on Non-Marketable Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Observable price adjustments on non-marketable equity securities (includes NAV)	$ 25	$ (2)	$ 0
Impairment of non-marketable equity securities	0	(4)	(3)
Total income (loss) from equity investments in non-marketable securities, net	$ 25	$ (6)	$ (3)

Revenue

12 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

4 - Revenue

Disaggregation of Revenue

A summary of the Company’s disaggregated revenue is as follows:


	Fiscal Year Ended March 31,
	External Customers						Related Parties						Total
(in millions)	2026		2025		2024		2026		2025		2024		2026		2025		2024
License and Other Revenue (1)	$	1,298	$	1,421	$	1,051	$	1,009	$	418	$	380	$	2,307	$	1,839	$	1,431
Royalty Revenue	2,123		1,763		1,458		490		405		344		2,613		2,168		1,802
	$	3,421	$	3,184	$	2,509	$	1,499	$	823	$	724	$	4,920	$	4,007	$	3,233

Revenue by geographic region is allocated to individual countries based on the principal headquarters of the customers. The geographical locations are not necessarily indicative of the country in which the customer sells products containing the Company’s technology IP. The following table summarizes information pertaining to revenue from customers based on the principal headquarters address by geographic regions:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
United States	$	1,761	$	1,716	$	1,413
PRC (1)	874		749		697
Japan	825		296		121
Taiwan	695		629		522
Republic of Korea	392		324		308
Other countries	373		293		172
Total	$	4,920	$	4,007	$	3,233

(1) “PRC” means the People’s Republic of China, including the Hong Kong Special Administrative Region and the Macau Special Administrative Region, but excluding Taiwan.

For the fiscal year ended March 31, 2026, the Company had three customers that collectively represented 42% of total revenue, with the single largest customer accounting for 16% of total revenue, the second largest customer accounting for 14% of total revenue, and the third largest customer accounting for 12% of total revenue. For the fiscal year ended March 31, 2025, the Company had four customers that collectively represented 49% of total revenue, with the single largest customer accounting for 17% of total revenue, the second largest customer accounting for 11% of total revenue, the third largest customer accounting for 11% of total revenue, and the fourth largest customer accounting for 10% of total revenue. For the fiscal year ended March 31, 2024, the Company had three customers that collectively represented 42% of total revenue, with the single largest customer accounting for 21% of total revenue, the second largest customer accounting for 11% of total revenue and the third largest customer accounting for 10% of total revenue. No other customer represented 10% or more of total revenue for the fiscal years ended March 31, 2026, 2025 and 2024.

Receivables

A summary of the components of accounts receivable, net is as follows:


	As of
(in millions)	March 31, 2026	March 31, 2025


Accounts receivable	1,331	1,127
Allowance for current expected credit losses	(31)	(20)
Total accounts receivable, net	1,300	1,107

As of March 31, 2026, the customer with the largest total receivables balance represented 22% of total receivables, the customer with the second largest total receivables balance represented 12% of total receivables, the customer with the third largest total receivables balance represented 11% of total receivables and the customer with the fourth largest total receivables balance represented 10% of total receivables. As of March 31, 2025, the customer with the largest total receivables balance represented 26% of total receivables, the customer with the second largest total receivables balance represented 19% of total receivables, and the customer with the third largest total receivables balance represented 12% of total receivables. No other customer represented 10% or more of receivables as of March 31, 2026 or 2025.

A summary of the movement in the allowance for current expected credit losses is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Beginning balance	$	20	$	3	$	3
Additional (reversal of) provision	11		17		—


Ending balance	$	31	$	20	$	3

Contract Assets

The timing of revenue recognition may differ from the timing of invoicing to customers. When revenue recognized exceeds the amount billed to the customer, the Company records a contract asset. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional. Contract assets increased by $1,436.2 million and $1,121.7 million due to the timing of billings to customers, which fell into subsequent periods, as of March 31, 2026 and 2025, respectively, offset by $1,127.3 million and $709.8 million of contract assets transferred to accounts receivable, as of March 31, 2026 and 2025, respectively. The balance and activity for loss allowances related to contract assets was immaterial for all periods presented.

Contract Liabilities

A reconciliation of the movement in contract liabilities is as follows:


	As of
(in millions)	March 31, 2026		March 31, 2025
Beginning balance April 1,	$	911	$	915
Customer prepayment and billing in advance of performance	581		371
Revenue recognized in the period that was included in the contract liability balance at the beginning of the period	(149)		(131)
Revenue recognized in the period that was included in the contract liability balance during the period	(297)		(244)

Ending balance	$	1,046	$	911

Satisfied Performance Obligations

For the fiscal years ended March 31, 2026, 2025 and 2024, revenue recognized from previously satisfied performance obligations in prior reporting periods was $2,616.9 million, $2,179.4 million and $1,866.6 million, respectively. These amounts primarily represent royalties earned during the period.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods.

The Company has elected to exclude potential future royalty receipts from the disclosure of remaining performance obligations. In certain arrangements, the Company’s right to consideration may not correspond directly with the performance of obligations.

In the absence of sufficient information, where the timing of satisfaction of the remaining performance obligations is dependent on a customer’s action, the transaction price allocated to such performance obligation is included in the more than 2 years category unless the contract or option expiration aligns with an earlier period or category.

As of March 31, 2026, the aggregate transaction price allocated to remaining performance obligations was $2,071.4 million.

The Company expects to recognize approximately 28% of remaining performance obligations as revenue over the next 12 months, 21% over the subsequent 13-to 24-month period, and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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+ Details

Share-based Compensation - Schedule of RSU Assumptions (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Mar. 31, 2024 $ / shares
2019 AEP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average share price (in dollars per share)	$ 56.10
Expected volatility until liquidity event	40.00%
Time to liquidity event	6 months
Dividend yield	0.00%
Risk free interest rate	5.52%
2022 RSU Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Transaction costs	2.50%
2022 RSU Plan \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average share price (in dollars per share)	$ 44.52
Present value per RSU (in dollars per share)	$ 43.40
Time to liquidity event	6 months
Discount for lack of marketability	0.00%
2022 RSU Plan \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average share price (in dollars per share)	$ 48.18
Present value per RSU (in dollars per share)	$ 46.98
Time to liquidity event	1 year
Discount for lack of marketability	7.50%

Fair Value

12 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value

13 - Fair Value

To provide an indication about the reliability of the inputs used in determining fair value, the Company classifies its fair value financial instruments into the three levels prescribed under GAAP. An explanation of each level follows the tables and qualitative disclosures below. There were no transfers between fair value measurement levels for any periods presented.


	As of March 31, 2026								As of March 31, 2025
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	2,456	$	—	$	—	$	2,456	$	1,914	$	—	$	—	$	1,914
Short-term investments (1)	850		—		—		850		740		—		—		740
Equity investments (2)	96		—		57		153		98		—		200		298
Available-for-sale debt securities	—		—		13		13		—		—		—		—
Convertible loans receivable	—		—		—		—		—		—		34		34
Foreign currency forward contracts	—		—		—		—		—		7		—		7
Total financial assets	$	3,402	$	—	$	70	$	3,472	$	2,752	$	7	$	234	$	2,993

Financial liabilities
Foreign currency forward contracts	$	—	$	10	$	—	$	10	$	—	$	2	$	—	$	2
Total financial liabilities	$	—	$	10	$	—	$	10	$	—	$	2	$	—	$	2

(1)Short-term investments represent term deposits with banks with a maturity between 3 and 12 months.

(2)In accordance with ASC Subtopic 820-10, Fair Value Measurements, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Equity Method Investments


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Fair value of financial assets at the beginning of the period	$	200	$	466	$	482

Fair value losses recognized in the Consolidated Income Statements	—		(266)		(16)

Sale of equity investments	(143)		—		—
Fair value at the end of the period	$	57	$	200	$	466

In December 2025, the Company, as a minority shareholder of Ampere, received $143.4 million in gross proceeds for its equity interest in Ampere. See Note 10 - Equity Investments, for further details.

The Company elected the fair value option in accordance with the guidance in ASC 825, Financial Instruments (“ASC 825”) for its investments in Acetone Limited and Ampere. The Company initially computed the fair value for its investments consistent with the methodology and assumptions that market participants would use in their estimates of fair value with the assistance of a third-party valuation specialist or based on inputs from the investee. The fair value computation is updated on a quarterly basis. The investments are classified within Level 3 in the fair value hierarchy because the Company estimates the fair value of the investments using the (i) the market-calibration approach based on the guideline public company method, (ii) subject to availability of sufficient information, the income approach based on the discounted cash flow method, or (iii) the probability-weighted, expected return (“PWER”) approach.

The market-calibration approach considers valuation multiples that are calibrated to the valuation as of the prior valuation date (i.e., quarterly) based on: (a) changes in the broader market or industry; (b) changes in the guideline public companies; and (c) changes in the company’s operating and financial performance. The fair value computation under this approach includes a key assumption for the range of valuation multiples (i.e., enterprise value or revenue), which requires significant professional judgment by the valuation specialist and is based on observable inputs (e.g., market data) and unobservable inputs (e.g., market participant assumptions).

The PWER approach is based on discrete future exit scenarios to determine the value of various equity securities. Under the PWER approach, the share value today is based on the probability-weighted, present value of expected future distributions, taking into account the rights and preferences of each debt and equity class. The Company considers an initial public offering scenario, a sale scenario, and a scenario assuming continued operation as a private entity for future exit scenarios. The fair value computation under this approach includes key assumptions for time to liquidity outcomes, discount rate, and present value factors.

The following tables provide quantitative information related to certain key assumptions utilized in the valuation of equity method investments accounted for under the fair value option:

As of March 31, 2026

(in millions)

Fair Value

Valuation Technique

Unobservable Inputs

Range of Estimates

Equity Method Investments

$57

Acetone Limited – Market-Calibration or discounted cash flow

LTM Revenue Multiple

0.9x - 1.1x

As of March 31, 2025

(in millions)

Fair Value

Valuation Technique

Unobservable Inputs

Range of Estimates

Equity Method Investments

$200

Acetone Limited – Market-Calibration or discounted cash flow

LTM Revenue Multiple

1.1x - 1.3x

Ampere – PWER

Probability of exit event

100%

Time to future exit scenario

0.8 years

Convertible Loans Receivable


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Fair value of financial assets at the beginning of the period	$	34	$	32	$	31


Settlement of convertible note receivable	(39)		—		—
Fair value gains recognized in the Consolidated Income Statements	5		2		1
Fair value at the end of the period	$	—	$	34	$	32

In December 2021, the Company acquired a $29.0 million convertible promissory note in Ampere, which was included in other non-current assets on the Consolidated Balance Sheets. In December 2025, the Company received $39.3 million from the settlement of the convertible loan in Ampere. As of March 31, 2025, the Company’s maximum exposure to loss is the amounts invested in, and advanced to, Ampere. As of March 31, 2025, the Company has not converted any of its convertible promissory note into equity and did not recognize any credit losses related to this convertible loan.

The fair value of the Ampere convertible loan, prior to settlement, was based upon significant unobservable inputs, including the use of a probability weighted discounted cash flows model, requiring the Company to develop its own assumptions. Therefore, the Company has categorized this asset as a Level 3 financial asset.

The fair value calculated using significant unobservable inputs did not differ materially from the amortized cost basis prior to settlement in December 2025 and as of March 31, 2025.

Currency Exchange Contracts

For currency exchange contracts, these contracts are valued at the present value of future cash flows based on forward exchange rates at the balance sheet date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
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-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
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-Paragraph 6A
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-Publisher FASB
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-Topic 820
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Revenue - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2026 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, amount	$ 2,071.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	28.00%
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percent	21.00%
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, period

Intangible Assets, Net (Tables)

12 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The estimated useful lives of the Company’s intangible assets are as follows:


Patents and licenses			3 – 11 years
Internal-use software			3 – 5 years
Developed technology			1 – 8 years
Customer relationships			1 – 6 years

Information related to intangible assets is as follows:


	As of March 31,
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Value				Weighted Average Remaining Life
(in millions except for years)	2026		2025		2026		2025		2026		2025		2026	2025
Patents & licenses	$	45	$	146	$	23	$	117	$	22	$	29	4.3	5.0
Developed technology	104		139		104		139		—		—		—	—

Internal-use software	450		356		255		234		195		122		2.9	2.1
Intangible assets subject to amortization	599		641		382		490		217		151
Intangible assets under development	13		—		—		—		13		—		—	—
Total intangible assets	$	612	$	641	$	382	$	490	$	230	$	151

Information regarding amortization expense for intangible assets is as follows:


	Fiscal Years Ended March 31,
(in millions)	2026		2025		2024
Cost of sales	$	2	$	2	$	6
Research and development	79		64		57
Selling, general and administrative	18		21		23
Total amortization expense	$	99	$	87	$	86

Schedule of Indefinite-Lived Intangible Assets

Information related to intangible assets is as follows:


	As of March 31,
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Value				Weighted Average Remaining Life
(in millions except for years)	2026		2025		2026		2025		2026		2025		2026	2025
Patents & licenses	$	45	$	146	$	23	$	117	$	22	$	29	4.3	5.0
Developed technology	104		139		104		139		—		—		—	—

Internal-use software	450		356		255		234		195		122		2.9	2.1
Intangible assets subject to amortization	599		641		382		490		217		151
Intangible assets under development	13		—		—		—		13		—		—	—
Total intangible assets	$	612	$	641	$	382	$	490	$	230	$	151

Information regarding amortization expense for intangible assets is as follows:


	Fiscal Years Ended March 31,
(in millions)	2026		2025		2024
Cost of sales	$	2	$	2	$	6
Research and development	79		64		57
Selling, general and administrative	18		21		23
Total amortization expense	$	99	$	87	$	86

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization of intangible assets subject to amortization is as follows:


(in millions)	As of March 31, 2026
2027	$	98
2028	51
2029	33
2030	31
2031 and thereafter	4

Total future amortization expense	$	217

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the U.S. (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company’s fiscal year ends on March 31st of each year.
Reclassification of Presentation in Consolidated Balance Sheets	Reclassification of Presentation in Consolidated Balance Sheets Finance lease right-of-use assets that were previously included in property and equipment, net have been reclassified to finance lease right-of-use assets on the Consolidated Balance Sheets to conform to current period presentation. See Notes 8 - Property and Equipment, Net and 9 - Leases for further details. Finance lease liabilities continue to be included in other current liabilities and other non-current liabilities on the Consolidated Balance Sheets.
Principles of Consolidation	Principles of Consolidation The accompanying financial statements include the accounts of the Company, its wholly owned subsidiaries and the Arm Employee Benefit Trust (the “EBT”). All intercompany balances and transactions have been eliminated in consolidation. The financial statements consolidate all of the Company’s affiliates, and the entities where the Company holds a controlling financial interest, because the Company holds a majority voting interest. The Company reevaluates whether there is a controlling financial interest in all entities when rights and interests change.
Foreign Currency	Foreign Currency The accompanying consolidated financial statements are presented in U.S. dollar (“USD”), which is the Company’s functional and reporting currency. For most of the Company’s international operations, the local currency has been determined to be the functional currency of the respective entity. For transactions entered into in a currency other than its functional currency, monetary assets and liabilities are remeasured into the functional currency at end-of-period exchange rates. Non-monetary assets and liabilities, along with equity are remeasured at historical exchange rates. Income and expenses are remeasured at exchange rates in effect during each period, except for those expenses related to non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are included in other non-operating income (loss), net in the Consolidated Income Statements. The Company translates functional currency assets and liabilities to their USD equivalents at exchange rates in effect as of the balance sheet date and income and expense amounts at average exchange rates for the period. The USD effects that arise from changing translation rates are recorded in foreign currency translation adjustments in the Consolidated Statements of Comprehensive Income.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant items subject to such estimates include, but are not limited to, revenue recognition, allowance for expected credit losses, income taxes, share-based compensation, impairment considerations for long-lived assets, fair value estimates and impairment for investments. The Company evaluates these estimates on an ongoing basis and revises estimates as circumstances change. The Company bases its estimates on historical experience, anticipated results, trends, and other various assumptions that it believes are reasonable. Actual results could differ materially from the Company’s estimates.
Concentration of Credit Risk	Concentrations of Credit Risk Credit risk is the risk of an unexpected loss if a customer or third-party to a financial instrument fails to meet its contractual obligations. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, bank deposits, short-term investments, derivative financial instruments and accounts receivable. The Company’s maximum exposure to credit risk is limited to the carrying amount of these assets. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit rating agencies. The Company further manages its credit risk on liquid funds and derivative financial instruments through diversification of investment type and credit exposures. For accounts receivable, the credit risk is managed through the use of mitigating controls, including the use of credit checks and credit limits on customers. For financial assets (other than accounts receivable), the Company holds positions with an approved list of investment-grade rated counterparties and monitors the exposures and counterparty credit risk on a regular basis. The Company establishes reserves for potential credit losses and such losses have been within Management’s expectations. Credit losses are monitored on a regular basis and have not been material in any year presented.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, short-term deposits and money market funds with original maturities of three months or less that are readily convertible into known amounts of cash and are subject to insignificant risk of changes in value. Cash and cash equivalents are stated at cost, which approximates fair value because the short-term maturity of those instruments.
Short-term Investments	Short-term Investments Short-term investments represent term deposits with banks with a maturity between three and 12 months. These investments are classified as held-to-maturity as the Company has the intent and ability to hold the investments to maturity. These investments are recorded at amortized cost, net of expected credit losses. Amortization of premiums or accretion of discounts are included in interest income, net in the Consolidated Income Statements. Accrued interest receivable is included in prepaid and other current assets on the Consolidated Balance Sheets. Available-For-Sale Debt Securities The Company holds investments in redeemable convertible preferred shares that are classified as available-for-sale and recorded at fair value within other non-current assets on the Consolidated Balance Sheets. These instruments are not publicly traded and are valued using Level 3 inputs, including discounted cash flow and option-pricing models that incorporate significant unobservable inputs. Unrealized gains and losses from changes in fair value are recognized in other comprehensive income on the Consolidated Balance Sheets. If the fair value of an investment declines below its cost basis and the decline is determined to be credit-related, a loss is recognized in earnings with a corresponding allowance, while non-credit-related losses remain in other comprehensive income. Realized gains and losses are recognized in earnings upon disposition.
Equity Investments	Equity Investments The Company regularly invests in equity securities of public and private companies to promote business and strategic objectives. Equity investments are measured and recorded as follows: •Non-marketable equity securities are equity securities without readily determinable fair values and for which the Company does not have the ability to exercise significant influence. Non-marketable equity securities are recorded on the income statement either at fair value on a recurring basis with changes in fair value, whether realized or unrealized; or by election, measured and recorded using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. •Equity method investments are equity securities in investees in which the Company does not control but has the ability to exercise significant influence. Investments in limited partnerships or certain limited liability companies that maintain a specific ownership account for each investor are also accounted for using the equity method when the Company has more than virtually no influence (i.e., at least 3% to 5% ownership). The Company has elected to account for certain equity method investments under the fair value option. These investments are recorded at fair value with changes in fair value recorded on the income statement. Where the Company has not elected the fair value option, equity method investments are recorded at cost minus impairment, if any, plus or minus the Company’s share of the equity method investees’ income or loss recorded in the income statement. •Equity investments in publicly listed companies is classified as an equity security with a readily determinable fair value. It is measured and recorded at fair value on a recurring basis, with both realized and unrealized changes in fair value recognized in the Consolidated Income Statements. Fair value is determined based on quoted market prices. For certain non-marketable equity securities and equity method investments, the Company has elected to apply the net asset value (“NAV”) practical expedient, where NAV is the estimated fair value of the investments. For these securities, estimated fair values are determined based on the indicated market values of the underlying assets or investment portfolios. Income statement activity for all equity investments is recorded in Income (loss) from equity investments, net, in the Consolidated Income Statements. The carrying values of non-marketable equity securities under the measurement alternative are adjusted for qualifying observable price changes resulting from the issuance of similar or identical securities in an orderly transaction by the same issuer. Determining whether an observed transaction is similar to a security within the Company’s portfolio requires judgment based on the rights and preferences of the securities. Recording upward and downward adjustments to the carrying values of equity securities as a result of observable price changes requires quantitative assessments of the fair values of the Company’s equity securities using various valuation methodologies and involves the use of estimates. Non-marketable equity securities under the measurement alternative and equity method investments not measured under the fair value option (collectively referred to as “non-marketable equity securities”) are also subject to periodic impairment analysis. The quarterly impairment analysis considers both qualitative and quantitative factors that may have a significant impact on the investee’s fair value. Qualitative factors considered include the investee’s financial condition and business outlook, industry and sector performance, market for technology, operational and financing cash flow activities, and other relevant events and factors affecting the investee. When indicators of impairment exist, the Company prepares quantitative assessments of the fair value of the non-marketable equity securities using both the market and income approaches, which require judgment and the use of estimates, including discount rates, investee revenue and costs, and comparable market data of private and public companies, among others. Non-marketable equity securities under the measurement alternative are tested for impairment using a qualitative model similar to the model used to test goodwill and other long-lived assets for impairment. Upon determining an impairment may exist, the security’s fair value is calculated and compared to its carrying value and an impairment is recognized immediately if the carrying value exceeds fair value. Equity method investments not measured under the fair value option are subject to periodic impairment reviews using the other-than-temporary impairment model, which considers the severity and duration of a decline in fair value below cost and the Company’s ability and intent to hold the investment for a sufficient period of time to allow for recovery. The Company elected the fair value option in accordance with the guidance in ASC 825, Financial Instruments (“ASC 825”) for its investments in Acetone Limited and Ampere. The Company initially computed the fair value for its investments consistent with the methodology and assumptions that market participants would use in their estimates of fair value with the assistance of a third-party valuation specialist or based on inputs from the investee. The fair value computation is updated on a quarterly basis. The investments are classified within Level 3 in the fair value hierarchy because the Company estimates the fair value of the investments using the (i) the market-calibration approach based on the guideline public company method, (ii) subject to availability of sufficient information, the income approach based on the discounted cash flow method, or (iii) the probability-weighted, expected return (“PWER”) approach. The market-calibration approach considers valuation multiples that are calibrated to the valuation as of the prior valuation date (i.e., quarterly) based on: (a) changes in the broader market or industry; (b) changes in the guideline public companies; and (c) changes in the company’s operating and financial performance. The fair value computation under this approach includes a key assumption for the range of valuation multiples (i.e., enterprise value or revenue), which requires significant professional judgment by the valuation specialist and is based on observable inputs (e.g., market data) and unobservable inputs (e.g., market participant assumptions). The PWER approach is based on discrete future exit scenarios to determine the value of various equity securities. Under the PWER approach, the share value today is based on the probability-weighted, present value of expected future distributions, taking into account the rights and preferences of each debt and equity class. The Company considers an initial public offering scenario, a sale scenario, and a scenario assuming continued operation as a private entity for future exit scenarios. The fair value computation under this approach includes key assumptions for time to liquidity outcomes, discount rate, and present value factors.
Loans Receivable and Convertible Loans Receivable	Loans Receivable Loans receivable consist of term loans to a related party and other entities. The term loans are recorded at amortized cost, net of allowances for loan losses. The Company maintains an allowance for current expected credit losses to reserve for potentially uncollectible loans receivable. The Company measures interest income for all loans receivable using the interest method, which is based on the effective yield of the loans rather than the stated coupon rate. The Company classifies loans receivable in other non-currents assets on the Consolidated Balance Sheets. Convertible Loans Receivable Convertible loans receivable consisted of convertible loans to certain entities. The Company elected to apply the fair value option to account for such convertible loans receivable. Under the fair value option, such convertible loans receivable were measured initially and subsequently at fair value with changes in fair value recorded in other non-operating income (loss), net in the Consolidated Income Statements. Convertible loans receivable were included in other non-current assets on the Consolidated Balance Sheets. As of March 31, 2026, the Company had no outstanding convertible loans receivable, as all such balances were settled in full during the fiscal year ended March 31, 2026.
Available-For-Sale Debt Securities	Short-term Investments Short-term investments represent term deposits with banks with a maturity between three and 12 months. These investments are classified as held-to-maturity as the Company has the intent and ability to hold the investments to maturity. These investments are recorded at amortized cost, net of expected credit losses. Amortization of premiums or accretion of discounts are included in interest income, net in the Consolidated Income Statements. Accrued interest receivable is included in prepaid and other current assets on the Consolidated Balance Sheets. Available-For-Sale Debt Securities The Company holds investments in redeemable convertible preferred shares that are classified as available-for-sale and recorded at fair value within other non-current assets on the Consolidated Balance Sheets. These instruments are not publicly traded and are valued using Level 3 inputs, including discounted cash flow and option-pricing models that incorporate significant unobservable inputs. Unrealized gains and losses from changes in fair value are recognized in other comprehensive income on the Consolidated Balance Sheets. If the fair value of an investment declines below its cost basis and the decline is determined to be credit-related, a loss is recognized in earnings with a corresponding allowance, while non-credit-related losses remain in other comprehensive income. Realized gains and losses are recognized in earnings upon disposition.
Fair Value Measurement	Fair Value Measurement The Company measures certain assets and liabilities at fair value, either upon initial recognition or for subsequent accounting or reporting. Fair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). When determining fair value, the Company considers the principal or most advantageous market in which the Company would transact, as well as assumptions that market participants would use when pricing the asset or liability. When estimating fair value, depending on the nature and complexity of the asset or liability, the Company may use one or all of the following techniques: •Income approach, which is based on the present value of a future stream of net cash flows. •Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities. •Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence. Fair value disclosures are classified based on the fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: •Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. •Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data by correlation or other means. •Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.
Business Combinations	Business Combinations The Company uses the acquisition method of accounting for business combinations, which requires separate recognition of assets acquired and liabilities assumed from goodwill, based on their estimated fair values at the time of acquisition. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the fair value of any non-controlling interests in the acquiree over the net of the estimated acquisition date fair values of the assets acquired and liabilities assumed. The estimates and assumptions used in valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows, discount rate used to determine the present value of these cash flows and the useful lives of the assets. Although the Company’s fair value estimates are based upon assumptions believed to be reasonable, these estimates and assumptions are inherently uncertain and subject to refinement. As a result, during the measurement period up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon conclusion of the measurement period or final determination of fair values of the purchase price of an acquisition, whichever comes first, any subsequent adjustments are recorded in earnings in the Consolidated Income Statements. Acquisition-related expenses are recognized separately from the business combination and expensed as incurred.
Goodwill	Goodwill Goodwill represents the excess of cost over the fair value of net assets acquired in a business combination. Goodwill is tested for impairment annually during the fourth fiscal quarter or during interim periods whenever events and circumstances indicate an impairment may have occurred. The identification and measurement of goodwill impairment involves the estimation of fair value at the Company’s reporting unit level, which is the same or one level below the operating segment level. The Company determined it has one reporting unit. The Company has the option to assess qualitative factors first to determine whether it is necessary to perform the two-step test. If the Company believes, as a result of the qualitative assessment, that it is more-likely-than-not that the fair value of the reporting unit is less than its carrying amount, the two-step quantitative impairment test is required. Otherwise, no further testing is required. In the qualitative assessment, the Company considers primary factors such as industry and market considerations, overall financial performance of the reporting unit, and other specific information related to the operations. The Company completed its annual goodwill impairment test in the fourth fiscal quarter of the fiscal year ended March 31, 2026. After conducting a qualitative review, the Company concluded that it was more likely than not that the fair value was more than the carrying value of the Company’s single reporting unit. Accordingly, there was no indication of impairment.
Intangible Assets, Net and Software Development Costs and Acquired Intangible Software	Intangible Assets, Net Intangible assets primarily represent acquired intangible assets including those acquired separately, such as computer software and purchased patents and licenses to use technology, as well as those acquired through business combinations such as developed technology and customer relationship assets. The Company initially records intangible assets acquired in a business combination at their estimated fair value. Intangible assets are reported net of accumulated amortization and any accumulated impairment losses, and are amortized over their estimated useful lives at amortization rates that are proportionate to each asset’s estimated economic benefit. Amortization of intangible assets is recorded in either cost of sales, research & development or selling, general and administrative expenses in the Consolidated Income Statements depending on the nature of the underlying asset and uses by the Company. The cost of intangible assets is amortized and recorded on the income statement on a straight-line basis over the estimated useful lives of the underlying assets. Useful lives are reviewed each year and adjustments are made, where applicable, on a prospective basis. Software Development Costs and Acquired Intangible Software The Company has not historically capitalized software development costs for software to be sold, leased or otherwise marketed as the time and cost incurred between technological feasibility and product release has been determined to be immaterial. As such, these development costs are generally recognized as incurred in research and development expenses in the Consolidated Income Statements. The Company capitalizes certain development costs related to software acquired, developed or modified for internal use, along with certain costs incurred in connection with the implementation of internal use software. Costs related to certain application development activities, such as personnel and related employee benefits expenses for employees who are directly associated with and who devote time to the project, are subject to capitalization. Internal-use software is capitalized when management has authorized and committed to funding the software project and it is probable that the project will be completed, and the software will be used to perform the function intended. Amortization begins once the software is ready for its intended use, and amortization expense is generally recognized on a straight-line basis over the software’s estimated useful life between three and five years. Capitalized costs related to internal use software, net of accumulated amortization, are included in intangible assets, net on the Consolidated Balance Sheets and amortization expense is recognized in research and development and selling, general and administrative expenses in the Consolidated Income Statements.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost net of accumulated depreciation and impairment losses. Cost comprises expenditures directly attributable to the purchase of the asset. Assets are depreciated to their estimated residual value, on a straight-line basis, over the estimated useful life of the underlying asset. Estimated useful lives and residual values are reviewed at each reporting date. Depreciation on property and equipment is recorded in cost of sales, research and development or selling, general and administrative expenses in the Consolidated Income Statements depending on the nature of the underlying asset and uses by the Company. An item of property or equipment is written off either upon disposal or when there is no expected future economic benefit from its continued use. Gain or loss on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value of the asset) is included in the Consolidated Income Statements in the year the asset is derecognized.
Impairment of Long-lived Assets Other than Goodwill	Impairment of Long-lived Assets Other than Goodwill The Company reviews long-lived assets other than goodwill for impairment when facts or circumstances indicate the carrying amount of an asset or asset group may not be recoverable. If impairment indicators are present and the estimated future undiscounted cash flows are less than the carrying value of the assets, the carrying values are reduced to the estimated fair value. Fair value is determined based on quoted market values, discounted cash flows, or external appraisals, as applicable. Impairment losses are recorded in impairment of long-lived assets in the Consolidated Income Statements.
Leases	Leases The Company determines if an arrangement is a lease, or contains a lease, at the inception or modification date of the arrangement and evaluates whether the lease is an operating lease or a finance lease. An arrangement is or contains a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period in exchange for consideration. Control over the use of the identified assets means the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments over the lease term. Operating lease right-of-use assets and lease liabilities are measured at the lease commencement date based on the present value of the remaining lease payments over the lease term, discounted using the Company’s incremental borrowing rate, which approximates the interest rate at which the Company could borrow on a collateralized basis with similar terms and payments and in similar economic environments. Operating lease right-of-use assets also include initial direct costs incurred and prepaid lease payments, minus any lease incentives. Lease terms include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. All lease and non-lease components, principally common area maintenance costs, are combined in determining operating lease right-of-use assets and lease liabilities. Operating lease expense is recognized on a straight-line basis over the lease term. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, and non-current portion of operating lease liabilities on the Company’s Consolidated Balance Sheets. The Company recognizes operating right-of-use assets and operating lease liabilities for lessee operating leases other than those with a term of 12 months or less as the Company has elected to apply the short-term lease recognition exemption. The Company recognizes a lease as a finance lease if it transfers substantially all the risks and rewards incidental to ownership at the inception of the lease. Finance lease right-of-use assets that were previously included in property and equipment, net have been reclassified to finance lease right-of-use assets on the Consolidated Balance Sheets. Finance lease liabilities continue to be included in other current liabilities and other non-current liabilities on the Consolidated Balance Sheets. Finance lease assets are amortized on a straight-line basis over the lease term, with the interest component included in interest expense and recognized using the effective interest method over the lease term.
Asset Retirement Obligations	Asset Retirement Obligations An asset retirement obligation (“ARO”) is recorded as appropriate on assets for which the Company has a legal obligation to retire. The Company records a liability for an ARO and the associated asset retirement cost at the time the underlying asset is acquired and put into service. Subsequent to the initial measurement of the ARO, the obligation is adjusted at the end of each period to reflect the passage of time and changes in the estimated future cash flows underlying the obligation, if any. Over time, the liability is accreted to its present value and the capitalized cost is depreciated over the estimated useful life of the asset. The Company has recognized AROs for contractually mandated removal of leasehold improvements.
Derivative Financial Instruments and Hedge Activities	Derivative Financial Instruments and Hedge Activities The Company uses derivative financial instruments, specifically foreign currency forward contracts, to mitigate exposure from certain foreign currency risk arising from operating expenses within research and development and selling, general and administrative expenses that are denominated in foreign currency, predominantly British Pound Sterling (“GBP”). These contracts are designated as cash flow hedges for hedge accounting treatment. Gains or losses on the contracts are recorded in accumulated other comprehensive income (loss) and reclassified to operating expenses when the related operating expenses are recognized in net income (loss) or ineffectiveness should occur. All derivatives are recorded at fair value as either an asset or liability. For derivatives not designated as hedges, adjustments to reflect changes in the fair value of the derivatives are included in earnings in other non-operating income (loss), net in the Consolidated Income Statements. All foreign currency forward contracts were designated as cash flow hedges in designated hedging relationships with the forecasted foreign denominated cash flows as the hedged transactions. The maximum length of time over which the Company is hedging its exposure to the variability in future foreign denominated cash flows is 12 months. For cash flow hedges that qualify and are designated for hedge accounting, the change in fair value of the derivative is recorded in the net change in fair value of the effective portion of designated cash flow hedges on the Consolidated Statements of Comprehensive Income, and subsequently recognized in research and development and selling, general and administrative expenses in the Consolidated Income Statements when the hedged transaction affects earnings. The Company classifies all derivative assets and liabilities for designated and non-designated derivatives in prepaid expenses and other current assets and other current liabilities on the Consolidated Balance Sheets. The Company classifies cash flows from the settlement of effective cash flow hedges for designated and non-designated derivatives in the same category as the cash flows from the related hedged items in operating activities on the Consolidated Statements of Cash Flows. The foreign currency forward contracts are classified under Level 2 of the fair value hierarchy. See Note 13 - Fair Value. Currency Exchange Contracts For currency exchange contracts, these contracts are valued at the present value of future cash flows based on forward exchange rates at the balance sheet date.
Revenue Recognition	Revenue Recognition The Company recognizes revenues for the transfer of products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products or services. The principle is achieved through the following five-step approach: •Identification of the contract with the customer •Identification of the performance obligations •Determination of the transaction price •Allocation of the transaction price to the performance obligations in the contract •Recognition of revenue when, or as, the Company satisfies a performance obligation Revenue for the Company’s major product offerings consists of the following: License and Other Revenue •Intellectual property license — The Company generally licenses IP under non-exclusive license agreements that provide usage rights for specific applications for a finite or perpetual term. These licenses are made available electronically to address the customer-specific business requirements. These arrangements generally have distinct performance obligations that consist of transferring the licensed IPs, version extensions of architecture IP or releases of specified IPs, and support services. Support services consist of a stand-ready obligation to provide technical support, patches, and bug fixes over the support term. Where arrangements include royalty buydowns or upfront minimum royalty commitments, the Company treats them as fixed contract consideration under licensing revenue. Revenue allocated to the IP license is recognized at a point in time upon the delivery or beginning of the license term, whichever is later. Revenue allocated to distinct version extensions of architecture IP or releases of specified IP, excluding when-and-if-available minor updates over the support term, are recognized at a point in time upon the delivery or beginning of license term, whichever is later. Certain license agreements provide customers with the right to access a library of current and future IPs on an unlimited basis over the contractual period depending on the terms of the applicable contract. These licensing arrangements represent stand-ready obligations in that the timing of the delivery of the underlying IPs is within the control of the customer and the extent of use in any given period does not diminish the remaining performance obligation. The contract consideration related to these arrangements is recognized ratably over the term of the contract in line with when the control of the performance obligations is transferred. Certain subscription license agreements include unspecified future IPs that are provided on a when-and-if-available basis, representing a stand-ready obligation. The contract consideration allocated to the stand-ready obligation is recognized on a ratable basis over the term of the contract, commencing upon the later of the effective date of the agreement and the transfer of the initial available IP license. •Software sales, including development systems — Sales of software, including development systems, which are not specifically designed for a given license (such as off-the-shelf software), are recognized upon delivery when control has been transferred and the customer can begin to use and benefit from the license. •Professional services — Services (such as training, professional and design services) that the Company provides, which are not essential to the functionality of the IP, are separately stated and priced in the contract and accounted for separately. Training revenue is recognized as services are performed. Revenue from professional and design services is recognized over time using an input method based on engineering labor hours expended to date relative to the estimated total effort required. For such professional and design services, the Company has an enforceable right to payment for performance completed to date, which includes a reasonable profit margin and the performance of such services does not create an asset with an alternative use. In certain arrangements, the Company also provides customers with professional and design services, as a stand-ready obligation, that are recognized on a ratable basis over the term of the contract. •Support and maintenance — Support and maintenance is a stand-ready obligation to the customer that is both provided and consumed simultaneously. Revenue is recognized on a straight-line basis over the period for which support and maintenance is contractually agreed pursuant to the license. •Third party arrangements — In certain arrangements, the Company arranges for third parties to provide products or services to customers. Revenue is recognized on a gross basis when the Company controls the product or service, and on a net margin basis when it acts as an agent. In agent arrangements, control passes directly from the third party to the customer, and the Company bears no inventory or performance risk. Royalty Revenue For most IP license agreements, royalties are collected on products that incorporate the Company’s IP. The Company applies the royalty exception, under which revenue is recognized when the subsequent sale or usage occurs, assuming control of the license to which the royalty relates has transferred to the customer. Accordingly, royalties are recognized on an accrual basis in the quarter in which the customer ships their products, based on the Company’s technology that it contains. This estimation process for the royalty revenue accrual is based on a combination of methodologies, including the use of historical sales trends and macroeconomic factors for predictive analysis, the analysis of customer royalty reports and their sales trends and forecasts, as well as data and forecasts from third-party industry research providers. Data considered includes revenue, unit shipments, average selling price, product mix, market share and market penetration. Adjustments to revenue are required in subsequent periods to reflect changes in estimates as new information becomes available, primarily resulting from actual amounts subsequently reported by the licensees in the period following the accrual, including royalty audit resolutions. Significant Judgments Identification of the Contract with the Customer The Company accounts for a contract as a revenue contract when all of the following criteria are met: •The contract has been approved in writing by the parties to the contract, and the parties are committed to perform their respective obligations; •The Company can identify each party’s rights regarding goods or services to be transferred; •The Company can identify the payment terms for the goods or services to be transferred; •Contracts have commercial substance; and •It is probable that the Company will collect substantially all of the consideration to which it will be entitled, in exchange for the goods or services to be transferred to the customer. The Company sometimes enters into multiple contracts with the same customer that are treated, for accounting purposes, as one contract if the contracts are entered into at, or near, the same time and are interrelated. Judgment is required in evaluating whether various contracts are interrelated, which includes considerations as to whether they were negotiated as a package with a single commercial objective, whether the amount of consideration on one contract is dependent on the performance of the other contract, or if some, or all, obligations in the contracts constitute a single performance obligation. New arrangements with existing customers can be based on either a new contract or the modification of prior contracts. The Company’s judgment in making this determination considers whether there is a connection between the new arrangement and the pre-existing contracts, whether the services under the new arrangement are highly interrelated with the products and services provided under prior contracts, and how the products and services under the new arrangement are priced. The Company sometimes enters into non-cancellable and non-refundable committed funds arrangements from customers, where the parties have ongoing negotiations. Judgment is required in evaluating whether all rights and obligations of the arrangement are determined and enforceable. Judgment is also required in determining whether collectability of substantially all of the consideration is probable. The Company assesses this through credit checks, past payment history or based on outstanding payments. Identification of the Performance Obligations Customer contracts often include various products and services as outlined in the summary of major product groups above. Typically, these products and services qualify as separate performance obligations, and a portion of the contractual value is allocated to them. Judgment is required, however, in determining whether a good or service is considered a separate performance obligation. When selling licenses or services, the Company frequently grants customers the choice to acquire additional rights, goods or services (for example, renewals of offerings, version extensions through term renewals, additional future products, or additional volumes of purchased license). The Company also utilizes forward looking information such as product roadmaps and other marketing materials in identifying performance obligations for IPs or version extensions of architecture IP under development or future products, and in determining if implicit promises or material right exist in certain long-term contracts. In a typical licensing arrangement, the Company either licenses implementation IP or architecture IP. When implementation IP is licensed, the Company promises to provide all developed and undeveloped IP over the license term based on the terms of the contract entered into with the customer. Products are delivered to the customer based on the Company’s product roadmap and each IP is generally identified as a separate performance obligation. In a subscription contract, the undeveloped IP in the contract also includes an implied promise to deliver implementation IP that will be developed and become available during the contract term but is not on the product roadmap at contract inception and undeveloped IPs are identified as a single performance obligation. When architecture IP is licensed, the Company promises to provide the available architecture IPs as well as all future version extensions of the architecture IP over the contract term which could range from 3 to 20 years. These version extensions may take one of two forms: •Specified version extensions that are expected to be released over the next 2-3 years and are identified in the Company’s product roadmap, or; •Implicit version extensions that the Company believes, based on historical data, will be developed in the period beyond the years covered by the product roadmap and will be delivered to the customer as and when released. These version extensions represent promises to deliver distinct products and have a discernable release pattern, based on the Company’s established practice every year over the license term. When version extensions of architecture IP are promised along with a license to available architecture IP, a portion of the overall transaction price is allocated to the available architecture license while the remaining portion relating to future extensions is deferred until those extensions are delivered and become available for use. Amounts allocated to the IP license including version extensions of an architecture license or releases of an implementation license are each recognized at a point in time upon the delivery or beginning of license term, whichever is later. Determination of Transaction Price The Company applies judgment when determining the amount of consideration it expects to be entitled to in exchange for transferring promised goods or services to a customer. This includes estimates as to whether, and to what extent, subsequent concessions or payments may be granted to customers, which release customers from their obligations to pay contractual fees. In this judgment, historical trends are considered with respect to both the specific customer and broader Company trends. The Company estimates the transaction price based on the amount expected to be received for transferring the promised goods or services in the contract. Consideration payable to a customer is accounted for as a reduction of the transaction price and, therefore, of revenue unless the payment to the customer is in exchange for a distinct good or service that the customer transfers to the Company. The transaction price also excludes amounts collected on behalf of third parties such as sales taxes. The Company’s revenue arrangements may include variable consideration including royalties. Where minimum royalties are agreed with customers and there is no uncertainty of their receipt, the amount is allocated to performance obligations as a part of the transaction price. The Company considers relevant facts and circumstances in assessing whether a contract contains a significant financing component. Based on the nature of the Company’s revenue arrangements, payment terms generally do not provide a significant financing benefit to either the customer or the Company. The Company applies the practical expedient in ASC 606 and did not evaluate contract terms where the time period between payment and service delivery is one year or less for the existence of a significant financing component. A significant financing component is identified only where contract-specific facts and circumstances indicate that the timing of payments differs significantly from the transfer of goods or services. In such cases, the Company adjusts the transaction price to reflect the time value of money. Allocation of Transaction Price Judgment is required when estimating standalone selling prices (SSPs). There is also judgment involved in determining whether the pricing of certain performance obligations is highly variable or uncertain. Other than support and maintenance, SSPs are usually not directly observable for the Company’s products and services because the Company generally does not sell its products or services on a standalone basis. When separately stated, contractual pricing is highly variable. The Company estimates the SSPs so that the Company allocates the transaction price to each performance obligation in an amount that depicts the amount of consideration to which the Company expects to be entitled in exchange for transferring the promised goods or services to the customer. The Company allocates royalties entirely to the licenses that give rise to them. When estimating a SSP, the Company considers available information and maximizes the use of observable inputs such as renewal pricing history for the Company’s standardized support and professional service offerings. For offerings that have highly variable or uncertain pricing and lack substantial direct costs to estimate based on a cost-plus margin approach, the transaction price is allocated by applying a residual approach. This is on the basis that the Company has identified SSP for other performance obligations in the same arrangement. If two or more goods or services in a contract have highly variable or uncertain pricing, then the Company applies a combination of methods to allocate transaction price, including utilizing list prices, contract prices, and engineering effort estimates to develop future IPs, for initial allocation of residual amount of transaction price within such products. For Arm Total Access arrangements, the Company establishes a separate performance obligation for implicit rights of future products upon contract execution and allocates the total transaction price to each performance obligation based on the price roadmap. For customer agreements related to long-term licensing of architecture IP, the Company allocates the contract value to each of the performance obligations based on an estimate of the engineering efforts required to deliver the initial version of the IP as well as related future versions, including enhancements and upgrades. The SSPs of material rights depend on the probability of option exercise. In estimating these probabilities, judgment is utilized when considering historical exercise patterns. The SSPs are reviewed annually or whenever facts and circumstances significantly change. These changes are applied prospectively. Revenue from Arm China Arm Technology (China) Co. Limited (“Arm China”) acts as the Company’s exclusive IP distributor in the People’s Republic of China, which, for the purposes of these financial statements, includes the Hong Kong Special Administrative Region and the Macau Special Administrative Region, but excludes Taiwan (collectively referred to as the “PRC”), under the intellectual property licensing arrangement (“IPLA”) and subsequent amendments. Arm China directly contracts with end customers with discretion in establishing pricing to sublicense specified IP and Arm Total Access Packages. The Company’s responsibility under the IPLA is to facilitate delivery of a good or service to the end customer in accordance with detailed instructions and other specifications from Arm China. In these cases, Arm China is the customer for the Company. As such, revenue presented by the Company is the net amount calculated as a percentage of license and royalty fees earned by Arm China from sub-license arrangements entered into with end customers. The Company applies the royalty exception, under which revenue is recognized when the subsequent sale or usage occurs, assuming control of the license to which the royalty relates has transferred to the customer. Where the revenue is derived as a percentage of the license fee of Arm China, the Company categorizes that portion as license revenue while the other portion, which represents the Company’s share of Arm China’s royalties, is categorized as royalties. Contract Balances and Receivables The Company recognizes accounts receivable in full when it has the contractual right to invoice the customer and begins satisfying the performance obligations over the term of the contract. Judgment is required to determine whether a right to consideration is unconditional and thus qualifies as a receivable. Contract assets are recognized as the performance obligations are satisfied and the Company does not have the contractual right to invoice. Typically, the Company invoices a portion of the fees for IP licenses up front on the effective date of the contract and satisfies a considerable portion of performance obligations. Accrued royalties are included in accounts receivable, net on the Consolidated Balance Sheets. Contract liabilities primarily reflect invoices due, or payments received, in advance of revenue recognition. Periodic fixed fees for software support services, and other multi-period agreements are typically invoiced in advance. Customer deposits primarily relate to payments received from customers which could be refundable pursuant to the terms of the contract and are in other current liabilities on the Consolidated Balance Sheet. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that its contracts generally do not include a significant financing component. The primary purpose of the Company’s invoicing terms is to provide customers with simplified and predictable ways of purchasing products and services, and not to provide or receive financing. Financing components have generally been insignificant in the context of the Company’s contracts; however, where a significant financing component exists, it is separately identified and accounted for. Allowance for Current Expected Credit Losses Trade receivables are stated at their net realizable value. The allowance for credit losses reflects the Company’s best estimate of expected credit losses of the receivable portfolio determined on the basis of historical experience, current information, and forecasts of future economic conditions. In developing the estimate for expected credit losses, accounts receivable is segmented into pools of assets depending on market (China versus international) and delinquency status, and fixed reserve percentages are established for each pool of accounts receivables. To determine the reserve percentages for each pool of accounts receivables, the Company considers its historical experience with certain customers and customer types, regulatory and legal environments, country and political risk, and other relevant current and future forecasted macroeconomic factors. These credit risk indicators are monitored on a quarterly basis to determine whether there are any changes in the economic environment that would indicate the established reserve percentages should be adjusted and are considered on a regional basis to reflect more geographic-specific metrics. Please refer to Note 4 - Revenue, for the summary of the movement in the allowance for current expected credit losses. Additionally, write-offs and recoveries of customer receivables are tracked against collections on a quarterly basis to determine whether the reserve percentages remain appropriate. When management becomes aware of certain customer-specific factors that impact credit risk, specific allowances for these known troubled accounts are recorded. Accounts receivables are written off after all reasonable means to collect the full amount (including litigation, where appropriate) are exhausted. For the fiscal years ended March 31, 2026, 2025 and 2024, write-offs and recoveries of customer receivables were immaterial to the consolidated financial statements. The Company recognizes an allowance for losses on contract assets based on a similar approach used for receivables under the current expected credit loss model. As of March 31, 2026 and 2025, the loss allowance for contract assets was immaterial. The timing of revenue recognition may differ from the timing of invoicing to customers. When revenue recognized exceeds the amount billed to the customer, the Company records a contract asset. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional. Remaining Performance Obligations Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied, or partially unsatisfied, which includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods. The Company has elected to exclude potential future royalty receipts from the disclosure of remaining performance obligations. In certain arrangements, the Company’s right to consideration may not correspond directly with the performance of obligations. In the absence of sufficient information, where the timing of satisfaction of the remaining performance obligations is dependent on a customer’s action, the transaction price allocated to such performance obligation is included in the more than 2 years category unless the contract or option expiration aligns with an earlier period or category.
Share-based Compensation	Share-based Compensation Restricted share units (“RSU”) were granted to employees, certain of our executive officers, and non-executive directors of the Company and require continuous service through the vesting date. In connection with the IPO on September 14, 2023, all RSUs previously issued under The Arm Holdings plc All-Employee Plan 2019 (“2019 AEP”), except for those 2019 AEP awards granted to employees of Arm Technology Israel Ltd., the Company’s Israeli subsidiary (“Arm Israel”), The Executive IPO Plan (“2019 EIP”), and Executive Awards previously issued under The Arm Holdings plc RSU Award Plan (“2022 RSU Plan”) were no longer expected to be settled in cash but rather expected to be settled in ordinary shares. This resulted in a change in classification of the RSUs from liability to equity which was accounted for as a modification. The number of RSUs that vest is determined by the achievement of market, performance and service conditions. The Company expenses share-based compensation over the requisite service period of the awards, which is generally equivalent to the vesting term. Compensation cost is recorded only for those awards expected to vest. Share‑based compensation cost for employees associated with the development of internal-use software is capitalized only to the extent the cost is directly related to the qualifying internal‑use software projects. The fair value of RSUs is determined on the date of grant for equity-classified awards, and at the end of each reporting period for liability-classified awards, using Monte Carlo simulations or the discounted cash flow approach. The fair value of Phantom Shares, which are subject to continuous service and vest upon meeting certain strategic performance conditions of the Company and are liability-classified, is determined on the date of grant and at the end of each reporting period based on the share price of the Company’s ultimate parent, SoftBank Group Corp. (“SoftBank Group”). The Company classifies those awards in which the Company has the option, pursuant to the plan terms, and intends to settle in cash or equity, as liability-classified or equity-classified awards, respectively. Certain RSUs are liability-classified and are remeasured at the end of each reporting period through the date of settlement so that the expense recognized for each award is equivalent to the amount to be paid in cash. Changes in the fair value of liability-classified RSUs are recorded in the Consolidated Income Statements over the vesting period of the award. Expense associated with equity-classified RSUs are recognized using the straight-line method over the service period adjusted for estimated forfeitures. Prior to the IPO, an initial public offering was not considered probable until it has occurred. Accordingly, RSUs that were subject to vesting on the earliest of (1) change of control, (2) initial public offering, or (3) passage of time, were expected to vest and be settled in cash upon the passage of time. For liability-classified awards, the weighted average fair value of the RSUs was measured at each reporting date using the Monte Carlo simulation model or a discounted cash flow approach. Similarly, the fair value for equity-classified awards was measured at the grant date using the discounted cash flow approach. For the periods prior to the IPO in the fiscal year ended March 31, 2024, the Company used the Monte Carlo simulation model, the income approach and/or market-calibration approach based on comparable publicly traded companies in similar lines of businesses to measure the RSUs. The Monte Carlo simulation model simulates the Company’s equity value at an assumed listing exit event in order to determine the RSU vesting percentage. The model simulates the RSU vesting percentage over numerous iterations, and the average of all iterations is determined to be the fair value of an RSU. The model then discounts the future value of the RSU at the assumed listing exit event date back to the valuation date based on the relevant risk-free interest rate. The Monte Carlo simulation model incorporates various assumptions such as expected stock price volatility until a liquidity event, expected dividend yield, risk-free interest rate, and expected time to complete an initial public offering. Prior to the IPO, at the grant date of the RSUs, the Company was private and its ordinary shares were not listed on a public stock exchange. Therefore, the Company’s Board of Directors exercised its reasonable judgment and considered numerous objective and subjective factors to determine the best estimate of fair value of the Company’s ordinary shares underlying share-based compensation awards, including: •contemporaneous independent third-party valuations of ordinary shares; •financial condition, results of operations, and capital resources; •the likelihood and timing of achieving a liquidity event, such as an initial public offering or sale of the company, given prevailing market conditions; •the lack of marketability of ordinary shares; •estimates of future financial performance; •market performance and valuations of comparable companies; •the hiring or loss of key personnel; •the status of the Company’s development, product introduction, and sales efforts; •industry outlook and other information, such as market growth and volume and macro-economic events; and •additional objective and subjective factors relating to the Company’s business. To determine the fair value of ordinary shares, the Company first estimated the enterprise value and then allocated that enterprise value to ordinary shares and ordinary share equivalents. The Company’s enterprise value was estimated using the income and market-calibration approaches. The income approach estimates enterprise value based on the estimated present value of future cash flows the business is expected to generate over its remaining life. The estimated present value is calculated using a discount rate reflective of the risks associated with an investment in a similar company in a similar industry or having a similar history of revenue growth. For each valuation, the Company prepared a financial forecast to be used in the computation of the value of invested capital for both the income approach and market-calibration approach. The financial forecast considered the Company’s past results and expected future financial performance. The risk associated with achieving this forecast was assessed in selecting the appropriate discount rate. There is inherent uncertainty in these estimates as the assumptions used are highly subjective and subject to changes as a result of new operating data and economic and other conditions that impact the business. The market-calibration approach analyzes the percent change in the enterprise values of peer companies between the prior valuation date and the current valuation date. Based on the observed market movement in the enterprise values of peer companies, a market movement factor is selected to represent the potential shift in enterprise value between the prior valuation date and the current valuation date. The selected market movement factor is applied to the indicated value as of the prior valuation date. Monte Carlo simulations incorporate highly subjective assumptions, such as stock price volatility and expected volatility until a liquidity event. Changes in highly subjective assumptions could significantly impact share-based compensation cost. Since the Company’s ordinary shares were not publicly traded, the computation of expected volatility was based on the average of historical and implied volatilities over the expected term of the awards of a representative peer group of publicly traded entities. Other assumptions included expected term, risk-free interest rate and dividend yield. The risk-free interest rate was based on zero-coupon U.S. Treasury bond rates corresponding to the expected term of the awards. Dividend assumptions were based on historical experience. The Company estimates forfeitures based on employee level, economic conditions, time remaining to vest and historical forfeiture experience. The Company estimates the fair value of shares to be issued under the Company’s employee stock purchase plan (the “ESPP”), using the Black-Scholes model at the commencement of an offering period in March and September of each year. Stock-based compensation for the ESPP is expensed using a straight-line method over the requisite service period.
Cost of Sales	Cost of Sales Cost of sales expenses consist primarily of employee-related expenses and project costs associated with professional services and the provision of support and maintenance to customers, along with expenses related to license development services revenue, amortization of developed technology, and allocated overhead. Employee-related expenses include salaries, bonuses, share-based compensation, associated benefits, and employer taxes.
Research and Development	Research and Development Research and development expenses consist primarily of employee-related expenses, including salaries, bonuses, share-based compensation, associated benefits, and employer taxes associated with employees in research and development functions, along with project materials costs, third-party fees paid to consultants, depreciation and amortization, allocated overhead, and other development expenses.
Selling, General and Administrative	Selling, General and Administrative Selling, general and administrative expenses consist primarily of employee-related expenses, including salaries, bonuses, share-based compensation, associated benefits, and employer taxes associated with employees in sales and marketing, along with corporate and administrative functions, including accounting and legal professional services fees, depreciation and amortization, advertising expenses, allocated overhead, and other corporate-related expenses.
Disposal, Restructuring and other Operating Expenses, Net	Disposal, Restructuring and Other Operating Expenses, Net Disposal expenses consist primarily of transaction costs, such as legal and professional fees, relating to various disposal activities. Restructuring and other operating expenses consist primarily of employee termination benefits. Recognition of costs for employee termination benefits depends on whether employees are required to render service beyond a minimum retention period in order to receive the termination benefits. If employees are required to render service beyond a minimum retention period in order to receive the termination benefits, costs are recognized ratably over the applicable future service period. Otherwise, costs are recognized when the Company has committed to a restructuring plan and has communicated those actions to employees. Employee termination benefits covered by existing benefit arrangements are recognized when the Company has committed to a restructuring plan and the termination benefits are probable and estimable.
Government Incentives	Government Incentives The Company receives refundable tax credits to compensate for its research activities. In December 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-10, which establishes the accounting and presentation guidance for such government incentives received by business entities. As of March 31, 2026, the Company has not yet adopted ASU 2025-10. ASU 2025-10 is effective for the Company’s fiscal year ending March 31, 2030. Until the Company adopts ASU 2025-10, the Company follows interpretative guidance issued and commonly applied by financial statement preparers that allows for the selection of accounting policies amongst acceptable alternatives. Based on facts and circumstances, the Company determined it most appropriate to account for the government incentive by analogy to International Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance (“IAS 20”). Under the provisions of IAS 20, a government grant is recognized when there is reasonable assurance the Company will meet the terms for receiving and realizing the benefit. IAS 20 does not define “reasonable assurance,” however, based on certain interpretations, it is analogous to “probable” as defined under GAAP, which is the definition the Company has applied. Under IAS 20, government grants are recognized in earnings on a systematic basis over the periods in which the Company recognizes the related (i.e. qualified) expenses. Further, IAS 20 permits for the recognition in earnings either separately under a general heading such as other income, or as a reduction of the related expenses. The Company has elected to recognize the benefit as a reduction of the related expenses in research and development in the Consolidated Income Statements.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the net amount that is more likely than not to be realized. In assessing the need for a valuation allowance, all available evidence is considered, both positive and negative, including historical levels of income, estimates of future taxable income, and the feasibility of tax planning strategies. The Company regularly assesses the need for a valuation allowance. If there is a change in the determination as to the amount of deferred tax assets that can be realized, the valuation allowance is adjusted to income tax expense in the period in which such determination is made. The Company recognizes the tax benefit of an uncertain tax position only if it is more likely than not that the tax position is sustainable upon examination by the taxing authority, based solely on its technical merits. The tax benefit recognized is measured as the largest amount of benefit that is more than 50% likely to be realized upon settlement with the taxing authority. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense.
Net Income (Loss) Per Share Attributable to Ordinary Shareholders	Net Income (Loss) Per Share Attributable to Ordinary Shareholders Basic income (loss) per ordinary share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares and potentially dilutive ordinary shares outstanding during the period. Potentially dilutive ordinary shares whose effect would have been antidilutive are excluded from the computation of diluted earnings per ordinary share.
Recent Accounting Pronouncements	Recently adopted accounting pronouncements Income Taxes (Topic 740), Improvements to Income Tax Disclosures: In December 2023, the FASB issued ASU 2023-09, which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The Company adopted ASU 2023-09 prospectively in the annual financial statements for the fiscal year ended March 31, 2026. See Note 16 - Income Taxes for further information. Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) – Targeted Improvements to the Accounting for Internal-Use Software: In September 2025, the FASB issued ASU 2025-06, which amends certain aspects of the accounting for and disclosure of software costs under Accounting Standards Codification 350-40, Internal-Use Software. ASU 2025-06, which can be applied prospectively, retrospectively, or with a modified transition approach, is effective for the Company’s fiscal year ending March 31, 2029, and interim periods in the same annual reporting period. Early adoption is permitted. The Company adopted ASU 2025-06 prospectively in the annual financial statements for the fiscal year ended March 31, 2026. The adoption of ASU 2025-06 did not have a material impact on the Company’s consolidated financial statements. Recently issued accounting pronouncements not yet adopted Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40), Disaggregation of Income Statement Expenses: In November 2024, the FASB issued ASU 2024-03, which requires incremental disclosures to disaggregate income statement expense items. In January 2025, the FASB issued ASU No. 2025-01, Clarifying the Effective Date, which revised the effective date of ASU No. 2024-03 for interim periods. ASU 2024-03 and ASU 2025-01 are effective for the Company’s fiscal year ending March 31, 2028, and interim periods within our fiscal years beginning after April 1, 2028. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2024-03 and ASU 2025-01 on its consolidated financial statements and disclosures. Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses for Accounts Receivable and Contract Assets: In July 2025, the FASB issued ASU 2025-05, which provides a practical expedient to measure credit losses on current accounts receivable and current contract assets under Accounting Standards Codification 606, Revenue from Contracts with Customers. The practical expedient assumes that current conditions as of the balance sheet date do not change for the remaining life of the asset. ASU 2025-05 is effective for the Company’s fiscal year ending March 31, 2027, and interim periods in the same annual reporting period. Early adoption is permitted. The Company does not believe the adoption of ASU 2025-05 will have a material impact on its financial statements and disclosures. The Company will adopt this standard for the fiscal year beginning April 1, 2026. Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) – Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract: In September 2025, the FASB issued ASU 2025-07, which refines the scope for derivatives to clarify which contracts are subject to derivative accounting and clarifies share-based noncash consideration from a customer in a revenue contract. ASU 2025-07, which can be applied prospectively or with a modified transition approach, is effective for the Company’s fiscal year ending March 31, 2028, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-07 on its consolidated financial statements. Derivatives and Hedging (Topic 815) – Hedge Accounting Improvements: In November 2025, the FASB issued ASU 2025-09, which refines hedge accounting to more closely align an entity’s financial reporting with the economics of risk management activities, including expanded eligibility to hedge groups of forecasted transactions, introduces a new model for “choose-your-rate” debt instruments, and certain changes that avoid automatic redesignation when the hedged risk is revised if effectiveness is maintained. ASU 2025-09, which has to be applied prospectively for all hedging relationships, is effective for the Company’s fiscal year ending March 31, 2028, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-09 on its consolidated financial statements. Government Grants (Topic 832) – Accounting for Government Grants Received by Business Entities: In December 2025, the FASB issued ASU 2025-10, which establishes the accounting and presentation guidance for government grants received by business entities. ASU 2025-10, which can be applied modified prospectively, modified retrospectively, or retrospectively, is effective for the Company’s fiscal year ending March 31, 2030, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-10 on its consolidated financial statements. Interim Reporting (Topic 270) – Narrow-Scope Improvements: In December 2025, the FASB issued ASU 2025-11, which clarifies when ASC 270 applies and adds a comprehensive list of interim disclosure requirements from other Codification topics. The ASU 2025-11 also introduces a disclosure principle requiring entities to disclose events since the last annual period that have a material impact, and specifies the form and content of condensed interim financial statements. ASU 2025-11, which can be applied prospectively or retrospectively to any or all prior periods presented, is effective for the Company’s fiscal year ending March 31, 2029, and interim periods in the same annual reporting period. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-11 on its consolidated financial statements.

Equity Investments - Schedule of Equity Investments (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Investments, All Other Investments [Abstract]
Equity method investments under fair value option	$ 148	$ 300
Equity investments in publicly listed companies	96	98
Equity method investments under equity method	13	16
Non-marketable equity securities	130	151
Total equity investments	$ 387	$ 565

- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

+ Details

Revenue - Schedule of Contract Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Contract With Customers, Liability [Roll Forward]
Beginning balance	$ 911	$ 915
Customer prepayment and billing in advance of performance	581	371
Revenue recognized in the period that was included in the contract liability balance at the beginning of the period	(149)	(131)
Revenue recognized in the period that was included in the contract liability balance during the period	(297)	(244)
Ending balance	$ 1,046	$ 911

Financial Instruments - Schedule of Loans and Other Receivables Carried at Amortized Cost (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for current expected credit losses	$ (3)	$ (20)
Loans and other receivables carried at amortized cost, net	24	18
Loans receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and other receivables carried at amortized cost	10	27
Other receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and other receivables carried at amortized cost	$ 17	$ 11

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2003/role/exampleRef
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Reference 11: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Recent Accounting and Disclosure Pronouncements

12 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Recent Accounting and Disclosure Pronouncements

1 - Description of Business and Summary of Significant Accounting Policies

Description of Business

Corporate Reorganization

Initial Public Offering

Basis of Presentation

Reclassification of Presentation in Consolidated Balance Sheets

Principles of Consolidation

Foreign Currency

Use of Estimates

Concentrations of Credit Risk

Cash and Cash Equivalents

Short-term Investments

Equity Investments

The Company regularly invests in equity securities of public and private companies to promote business and strategic objectives. Equity investments are measured and recorded as follows:

Loans Receivable

Convertible Loans Receivable

Available-For-Sale Debt Securities

Fair Value Measurement

•Income approach, which is based on the present value of a future stream of net cash flows.

•Market approach, which is based on market prices and other information from market transactions involving identical or comparable assets or liabilities.

•Cost approach, which is based on the cost to acquire or construct comparable assets, less an allowance for functional and/or economic obsolescence.

Fair value disclosures are classified based on the fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

•Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

•Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

Please refer to Note 13 - Fair Value, for further discussion on the Company’s fair value measurements.

Business Combinations

Goodwill

Intangible Assets, Net


Patents and licenses			3 – 11 years
Internal-use software			3 – 5 years
Developed technology			1 – 8 years
Customer relationships			1 – 6 years

Software Development Costs and Acquired Intangible Software

Property and Equipment, Net

Estimated useful lives of the Company’s property and equipment are as follows:



Leasehold improvements			Shorter of 5 – 10 years or the remaining lease term
Equipment			3 – 7 years
Fixtures and vehicles			3 – 5 years

Impairment of Long-lived Assets Other than Goodwill

Leases

Asset Retirement Obligations

Derivative Financial Instruments and Hedge Activities

Revenue Recognition

•Identification of the contract with the customer

•Identification of the performance obligations

•Determination of the transaction price

•Allocation of the transaction price to the performance obligations in the contract

•Recognition of revenue when, or as, the Company satisfies a performance obligation

Revenue for the Company’s major product offerings consists of the following:

License and Other Revenue

Royalty Revenue

Significant Judgments

Identification of the Contract with the Customer

The Company accounts for a contract as a revenue contract when all of the following criteria are met:

•The contract has been approved in writing by the parties to the contract, and the parties are committed to perform their respective obligations;

•The Company can identify each party’s rights regarding goods or services to be transferred;

•The Company can identify the payment terms for the goods or services to be transferred;

•Contracts have commercial substance; and

•It is probable that the Company will collect substantially all of the consideration to which it will be entitled, in exchange for the goods or services to be transferred to the customer.

Identification of the Performance Obligations

IP under development or future products, and in determining if implicit promises or material right exist in certain long-term contracts.

•Specified version extensions that are expected to be released over the next 2-3 years and are identified in the Company’s product roadmap, or;

Determination of Transaction Price

Allocation of Transaction Price

Revenue from Arm China

Contract Balances and Receivables

Allowance for Current Expected Credit Losses

Share-based Compensation

•contemporaneous independent third-party valuations of ordinary shares;

•financial condition, results of operations, and capital resources;

•the likelihood and timing of achieving a liquidity event, such as an initial public offering or sale of the company, given prevailing market conditions;

•the lack of marketability of ordinary shares;

•estimates of future financial performance;

•market performance and valuations of comparable companies;

•the hiring or loss of key personnel;

•the status of the Company’s development, product introduction, and sales efforts;

•industry outlook and other information, such as market growth and volume and macro-economic events; and

•additional objective and subjective factors relating to the Company’s business.

The Company estimates forfeitures based on employee level, economic conditions, time remaining to vest and historical forfeiture experience.

Cost of Sales

Research and Development

Selling, General and Administrative

Disposal, Restructuring and Other Operating Expenses, Net

Disposal expenses consist primarily of transaction costs, such as legal and professional fees, relating to various disposal activities.

Government Incentives

Income Taxes

Net Income (Loss) Per Share Attributable to Ordinary Shareholders

2 - Recent Accounting and Disclosure Pronouncements

Recently adopted accounting pronouncements

Recently issued accounting pronouncements not yet adopted

Consolidated Statements of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions

Total

Ordinary Shares

Additional Paid- in Capital

Accumulated Other Comprehensive Income (Loss)

Retained Earnings

Balance, beginning of period (in shares) at Mar. 31, 2023

1,025

Balance, beginning of period at Mar. 31, 2023

$ 4,051

$ 2

$ 1,216

$ 376

$ 2,457

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

306

Other comprehensive income (loss), net of tax

(5)

Share-based compensation cost

825

Issuance of vested shares from share-based payment arrangements (in shares)

Tax withholding on vested shares from share-based payment arrangements (in shares)

(3)

Tax withholding on vested shares from share-based payment arrangements

(213)

Reclassification of RSU awards previously liability-classified

^[1]

343

Distribution to majority ordinary shareholder related to Pelion IOT Limited

(12)

Balance, ending of period (in shares) at Mar. 31, 2024

1,040

Balance, ending of period at Mar. 31, 2024

5,295

$ 2

2,171

371

2,751

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

792

Other comprehensive income (loss), net of tax

Share-based compensation cost

820

Issuance of vested shares from share-based payment arrangements (in shares)

Tax withholding on vested shares from share-based payment arrangements

$ (69)

(69)

Balance, ending of period (in shares) at Mar. 31, 2025

1,057

Balance, ending of period at Mar. 31, 2025

$ 6,839

$ 2

2,922

372

3,543

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

904

Other comprehensive income (loss), net of tax

(2)

Share-based compensation cost

1,056

Issuance of vested shares from share-based payment arrangements (in shares)

Issuance of ordinary shares under Employee Stock Purchase Plan (in shares)

Issuance of ordinary shares under Employee Stock Purchase Plan

Tax withholding on vested shares from share-based payment arrangements (in shares)

(5)

Tax withholding on vested shares from share-based payment arrangements

$ (585)

(585)

Balance, ending of period (in shares) at Mar. 31, 2026

1,064

Balance, ending of period at Mar. 31, 2026

$ 8,286

$ 2

$ 3,467

$ 370

$ 4,447

[1]	Includes $212 million of share-based compensation cost recognized in the fiscal year ended March 31, 2024 for RSU awards previously liability-classified.

Shareholders' Equity (Details) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Equity [Abstract]
Shares held in EBT (in shares)	0	0
Market value of shares held in EBT	$ 2.2	$ 0.2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Accounts receivable, net	$ 1,300	$ 1,107
Contract assets	977	642
Equity method investments under fair value option	148	300
Contract liabilities current	294	209
Other current liabilities	447	426
Contract liabilities noncurrent	$ 752	$ 702
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,097	1,088
Common stock, shares issued (in shares)	1,064	1,057
Common stock, shares, outstanding (in shares)	1,064	1,057
Related Party
Accounts receivable, net	$ 270	$ 279
Contract assets	646	152
Contract liabilities current	36	81
Other current liabilities	20	11
Contract liabilities noncurrent	$ 23	$ 24

Leases - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ (44)	$ (37)	$ (35)
Operating cash flows used for finance leases	3	1	0
Financing cash flows used for finance leases	(26)	(23)	(10)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	98	146	28
Finance leases	$ 56	$ 33	$ 21

Consolidated Income Statements - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Revenue	$ 4,920	$ 4,007	$ 3,233
Cost of sales	(121)	(121)	(154)
Gross profit (loss)	4,799	3,886	3,079
Research and development	(2,776)	(2,071)	(1,979)
Selling, general and administrative	(1,115)	(984)	(983)
Disposal, restructuring and other operating expenses, net	(8)	0	(6)
Total operating expenses	(3,899)	(3,055)	(2,968)
Operating income (loss)	900	831	111
Income (loss) from equity investments, net	14	(237)	(20)
Interest income, net	111	116	110
Other non-operating income (loss), net	132	10	11
Income (loss) before income taxes	1,157	720	212
Income tax benefit (expense)	(253)	72	94
Net income (loss)	$ 904	$ 792	$ 306
Net income (loss) per share attributable to ordinary shareholders
Basic (in USD per share)	$ 0.85	$ 0.75	$ 0.30
Diluted (in USD per share)	$ 0.85	$ 0.75	$ 0.29
Weighted average ordinary shares outstanding
Basic (in shares)	1,061	1,050	1,027
Diluted (in shares)	1,068	1,063	1,044
Nonrelated Party
Revenue	$ 3,421	$ 3,184	$ 2,509
Related Party
Revenue	$ 1,499	$ 823	$ 724

Retirement Benefits Plans	12 Months Ended
Retirement Benefits Plans	Mar. 31, 2026
Retirement Benefits [Abstract]
Retirement Benefits Plans	19 - Retirement Benefits Plans The Company contributes to defined contribution plans substantially covering all employees in Europe and the United States, and to government pension plans for employees in Japan, South Korea, Taiwan, Peoples Republic of China, Israel and India. The Company contributes to these plans based upon various fixed percentages of employee compensation, and such contributions are expensed as incurred. For the fiscal years ended March 31, 2026, 2025 and 2024, $138.9 million, $125.7 million and $96.7 million, respectively, was recorded in the Consolidated Income Statements related to contributions payable to these plans by the Company at rates specified in the rules of the plans. As of March 31, 2026 and 2025, $9.1 million and $15.1 million, respectively, of contributions due had not been paid over to the plans and was recorded in accrued compensation and benefits on the Consolidated Balance Sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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+ Details

Net Income (Loss) Per Share

12 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

17 - Net Income (Loss) Per Share

The following table presents a reconciliation of basic and diluted earnings per share computations for the periods presented:


	Fiscal Year Ended March 31,
(in millions, except per share amounts)	2026		2025		2024
Numerator:
Income (loss) attributable to ordinary shareholders — basic and diluted
Net income (loss)	$	904	$	792	$	306
Denominator:
Weighted average ordinary shares used to calculate income (loss) per share — basic (1)	1,061		1,050		1,027
Equity-classified share-based awards	7		13		17
Weighted average ordinary shares used to calculate income (loss) per share — diluted	1,068		1,063		1,044
Income (loss) per share attributable to ordinary shareholders — basic
Net income (loss) per ordinary share - basic	$	0.85	$	0.75	$	0.30
Income (loss) per share attributable to ordinary shareholders — diluted
Net income (loss) per ordinary share - diluted	$	0.85	$	0.75	$	0.29
Securities excluded from diluted net income (loss) per ordinary share because their effect would have been anti-dilutive:
Restricted share units	2		—		—
Employee Stock Purchase Plan	1		—		—
Total	3		—		—

Leases

12 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

9 - Leases

The Company has operating and finance leases for property, IT and automobiles. The Company’s operating leases have lease terms expiring between calendar years 2026 and 2044. The Company’s lease agreements do not contain residual value guarantees, material variable payment provisions or material restrictive covenants.

Finance lease right-of-use assets that were previously included in property and equipment, net have been reclassified to finance lease right-of-use assets on the Consolidated Balance Sheets to conform to current period presentation. Finance lease liabilities continue to be included in other current liabilities and other non-current liabilities on the Consolidated Balance Sheets.

The Company did not have material short-term leases and did not incur any material variable lease expenses for all periods presented. No material gains or losses were recognized on lease terminations during the fiscal years ended March 31, 2026, 2025 and 2024.

Lease expense components are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Operating lease cost	$	59	$	39	$	34

Finance lease cost:
Amortization of right-of-use assets	$	27	$	13	$	5
Interest on lease liabilities	3		1		—
Total finance lease cost	$	30	$	14	$	5

Supplemental disclosures of cash flow information related to leases are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	(44)	$	(37)	$	(35)
Operating cash flows used for finance leases	$	3	$	1	$	—
Financing cash flows used for finance leases	$	(26)	$	(23)	$	(10)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	98	$	146	$	28
Finance leases	$	56	$	33	$	21

Supplemental balance sheet information related to leases are as follows:


	As of
(in millions, except lease term and discount rate)	March 31, 2026			March 31, 2025
Operating leases
Operating lease right-of-use assets	$	379		$	320

Operating lease liabilities	$	39		$	30
Non-current portion of operating lease liabilities	$	393		$	316
Total operating lease liabilities	$	432		$	346

Finance leases
Finance lease right-of-use assets, net	$	69		$	40

Other current liabilities	$	25		$	10
Other non-current liabilities	$	34		$	15
Total finance lease liabilities	$	59		$	25

Weighted Average Remaining Lease Term (in years)
Operating leases	12.05			13.76
Finance leases	2.84			3.39

Weighted Average Discount Rate
Operating leases	4.32		%	4.23		%
Finance leases	5.07		%	5.43		%

Maturity of lease liabilities as of March 31, 2026 is as follows (in millions):


Fiscal Year	Operating Leases		Finance Leases
2027	$	50	$	26
2028	56		21
2029	57		15
2030	52		—
2031	48		—
Thereafter	286		—
Total lease payments	549		62
Less imputed interest	(117)		(3)
Total	$	432	$	59
Less: current portion of lease liabilities	(39)		(25)
Non-current portion of lease liabilities	$	393	$	34

As of March 31, 2026, the Company had seven leases signed but not yet commenced, with an aggregate lease value of approximately $76.0 million and lease terms expiring through 2035.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18 - Commitments and Contingencies Litigation From time to time, the Company may be a party to litigation, government investigations or regulatory proceedings in the ordinary course of business. Because the results of any litigation or other legal proceedings are uncertain, our financial position, results of operations or cash flows could be materially affected by an unfavorable resolution of one or more of these proceedings, claims, or demands. However, management does not currently believe the ultimate resolution of any pending legal matters is reasonably possible to have a material adverse effect on the Company’s financial position, results of operations or cash flows. The Company accrues for loss contingencies when it is both probable that it will incur the loss and when the Company can reasonably estimate the amount of the loss or range of loss. In the fiscal year ended March 31, 2023, the Company recorded a loss contingency related to an offer made by the Company to pay $40.0 million in respect of ongoing contractual disputes between the Company and a non-top five customer. That particular customer’s claims arose from a contract dating to a very early period in the Company’s history and that contract is both non-standard and significantly dissimilar from other customers’ contracts. On September 15, 2023, the Company reached an agreement, in which both parties resolved all contractual disputes and reached a mutual understanding of the contractual rights and obligations under the licensing arrangement. As a result, no amount of cash was paid by the Company to the customer with such agreement. The settlement agreement provided alignment of the rights and obligations which were previously agreed with the non-top five customer. In the fiscal year ended March 31, 2024, the liability for litigation was reversed resulting in a reduction of selling, general and administrative expenses by $40.0 million. No other material amounts related to litigation settlements were recognized in the fiscal years ended March 31, 2026, 2025 and 2024. Purchase Obligations In the normal course of business, we contract with various third-party service providers for systems and services to perform certain day-to-day business activities. The Company enters into non-cancelable purchase commitments for cloud computing web services, data centers, software, license and services. As of March 31, 2026, the Company had outstanding non-cancelable purchase obligations of approximately $1,056.5 million with a remaining term of 12 months or longer for periods through 2036. Arduino Guarantee As of March 31, 2025, the Company was guarantor for a $5.4 million credit facility available to Arduino, previously a related party. The guarantee was terminated in November 2025, and the Company was released from all obligations. As of March 31, 2026, the Company had no remaining obligations under the guarantee, and no claims were made prior to termination.

Share-based Compensation - Schedule of Omnibus Incentive Plan (Details) - Restricted Stock Units And Performance Shares - Omnibus Incentive Plan shares in Millions	12 Months Ended
	Mar. 31, 2026 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares) \| shares	11
Granted (in shares) \| shares	14
Vested (in shares) \| shares	(5)
Cancelled and forfeited (in shares) \| shares	(2)
Outstanding, ending of period (in shares) \| shares	18
Weighted Average Grant Date Fair Value Per RSU
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 118.24
Granted (in dollars per share) \| $ / shares	121.69
Vested (in dollars per share) \| $ / shares	117.34
Cancelled and forfeited (in dollars per share) \| $ / shares	124.91
Outstanding, ending of period (in dollars per share) \| $ / shares	$ 120.64

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,751.0	$ 2,085.0
Short-term investments	850.0	740.0
Accounts receivable, net (including receivables from related parties of $270 and $279 as of March 31, 2026 and 2025, respectively)	1,300.0	1,107.0
Contract assets (including contract assets from related parties of $646 and $152 as of March 31, 2026 and 2025, respectively)	977.0	642.0
Prepaid expenses and other current assets	358.0	256.0
Total current assets	6,236.0	4,830.0
Non-current assets:
Property and equipment, net	772.0	354.0
Operating lease right-of-use assets	379.0	320.0
Finance lease right-of-use assets	69.0	40.0
Equity investments (including investments held under fair value option of $148 and $300 as of March 31, 2026 and 2025, respectively)	387.0	565.0
Goodwill	1,623.2	1,620.0
Intangible assets, net	230.0	151.0
Deferred tax assets	375.0	401.0
Non-current portion of contract assets	320.0	346.0
Other non-current assets	312.0	305.0
Total non-current assets	4,467.0	4,102.0
Total assets	10,703.0	8,932.0
Current liabilities:
Accrued compensation and benefits	154.0	140.0
Tax liabilities	106.0	124.0
Contract liabilities (including contract liabilities from related parties of $36 and $81 as of March 31, 2026 and 2025, respectively)	294.0	209.0
Operating lease liabilities	39.0	30.0
Other current liabilities (including payables to related parties of $20 and $11 as of March 31, 2026 and 2025, respectively)	447.0	426.0
Total current liabilities	1,040.0	929.0
Non-current liabilities:
Non-current portion of accrued compensation	32.0	26.0
Deferred tax liabilities	39.0	41.0
Non-current portion of contract liabilities (including non-current portion of contract liabilities from related parties of $23 and $24 as of March 31, 2026 and 2025, respectively)	752.0	702.0
Non-current portion of operating lease liabilities	393.0	316.0
Other non-current liabilities	161.0	79.0
Total non-current liabilities	1,377.0	1,164.0
Total liabilities	2,417.0	2,093.0
Commitments and contingencies (Note 18)
Shareholders’ equity:
Ordinary shares, $0.001 par value; 1,097 shares authorized and 1,064 shares issued and outstanding as of March 31, 2026; and 1,088 shares authorized and 1,057 issued and outstanding as of March 31, 2025	2.0	2.0
Additional paid-in capital	3,467.0	2,922.0
Accumulated other comprehensive income (loss)	370.0	372.0
Retained earnings	4,447.0	3,543.0
Total shareholders’ equity	8,286.0	6,839.0
Total liabilities and shareholders’ equity	$ 10,703.0	$ 8,932.0

Equity Investments - Schedule of Equity Method Investments (Details) - board_member	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2022
Arm IOT Fund LP (Taiwan)
Schedule of Equity Method Investments [Line Items]
Ownership percentage	25.80%
Accelerator Advisory Limited
Schedule of Equity Method Investments [Line Items]
Ownership percentage	16.10%
HOPU-ARM Holding Company Limited
Schedule of Equity Method Investments [Line Items]
Ownership percentage	10.00%
Appointments To Board	1
DeepTech Labs Fund 1 LP
Schedule of Equity Method Investments [Line Items]
Ownership percentage	37.00%
Socratic Partners I LP
Schedule of Equity Method Investments [Line Items]
Ownership percentage	3.20%
Acetone Limited
Schedule of Equity Method Investments [Line Items]
Ownership percentage		10.00%
Fair Value Measured at Net Asset Value Per Share \| Acetone Limited
Schedule of Equity Method Investments [Line Items]
Ownership percentage	10.00%
Fair Value Measured at Net Asset Value Per Share \| China Walden Ventures Investments II, L.P. —NAV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	7.50%
Fair Value Measured at Net Asset Value Per Share \| China Walden Ventures Investments III, L.P. —NAV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	8.10%
Fair Value Measured at Net Asset Value Per Share \| HOPU-ARM Innovation Fund, L.P. —NAV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	5.10%
Fair Value Measured at Net Asset Value Per Share \| Catapult Ventures I, L.P. —NAV
Schedule of Equity Method Investments [Line Items]
Ownership percentage	18.10%

Derivatives - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liabilities	$ 10	$ 2
Level 3
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	0
Derivative Liabilities	0	0
Cash Flow Hedging \| Designated as cash flow hedges \| Level 3
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Assets	0	7
Derivative Liabilities	$ 10	$ 2

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

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+ Details

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Mar. 31, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity represents a critical component of the Company’s overall approach to risk management. The Company’s cybersecurity policies, standards and practices are fully integrated into the Company’s enterprise risk management (“ERM”) approach, and cybersecurity risks are among the core enterprise risks that are subject to oversight by the Board of Directors, the Audit Committee, and management’s Risk Review Committee. The Company’s cybersecurity policies, standards and incident response practices generally follow recognized frameworks established by National Institute of Standards and Technology (“NIST”). The Company approaches cybersecurity threats, as such term is defined in Form 20-F, Part II, Item 16K(a), through a cross-functional, multilayered approach, with the specific goals of: (i) identifying, preventing and mitigating actual or potential cybersecurity threats to the Company; (ii) preserving the confidentiality, integrity and availability of the information that we collect and store to use in our business; (iii) protecting the Company’s intellectual property; (iv) maintaining the confidence of our customers, clients and business partners; and (v) providing appropriate public disclosure of cybersecurity risks and incidents when required. Risk Management and Strategy Consistent with overall ERM policies and practices, the Company’s cybersecurity program focuses on the following areas: •Vigilance: The Company maintains a global presence, with 24/7 cyber defense operations focusing on identifying, preventing and mitigating cybersecurity threats and responding to cybersecurity incidents and vulnerabilities in accordance with our established security incident response plan. •Systems Safeguards: The Company deploys system safeguards where feasible that are designed to protect the Company’s information systems from cybersecurity threats, including firewalls, intrusion prevention and detection systems, anti-malware functionality and access controls, which are evaluated and improved through ongoing vulnerability assessments and cybersecurity threat intelligence. •Incident Response and Recovery Planning: The Company has established comprehensive security incident response plans that fully address the Company’s response to a cybersecurity threat, including the recovery from a cybersecurity incident, which is tested outside of real incident response at least annually. •Collaboration: The Company’s security incident response plan contains mechanisms to collaborate with public and private entities, including intelligence and enforcement agencies, industry groups and third-party service providers, to identify, assess and respond to cybersecurity threats. •Third-Party Risk Management: The Company maintains a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of the Company’s systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity threat affecting those third-party systems. •Training: The Company provides annual mandatory training for personnel regarding cybersecurity threats, which reinforces the Company’s information security policies, standards and practices, and such training is scaled to reflect the roles, responsibilities and information systems access of such personnel. •Communication, Coordination and Disclosure: The Company has established a cross-functional approach to address the risk from cybersecurity threats, involving management personnel from the Company’s enterprise security, technology, operations, legal, business continuity management, internal audit and other key business functions, as well as the members of the Board of Directors and the Audit Committee in an ongoing dialogue regarding cybersecurity threats and incidents, while also implementing controls and procedures for the escalation of cybersecurity incidents pursuant to established thresholds so that decisions regarding the disclosure and reporting of such incidents can be made by management in a timely manner. •Governance: The Board of Directors’ oversight of cybersecurity risk management is supported by the Audit Committee, which regularly interacts with the Company’s VP of Audit and Risk, the Chief Information Security Officer, and other members of management involved in overseeing risks from cybersecurity threats. A key part of the Company’s strategy for managing risks from cybersecurity threats is the ongoing assessment and testing of the Company’s processes and practices through auditing, assessments, tabletop exercises, threat modeling, vulnerability testing and other exercises focused on evaluating the effectiveness of our cybersecurity measures. The Company regularly engages third parties to perform assessments on our cybersecurity measures, including information security maturity assessments, penetration testing, audits and independent reviews of our information security control environment and operating effectiveness. The results of such assessments, audits and reviews are reported to the Audit Committee and the Board of Directors, and the Company adjusts its cybersecurity policies, standards, processes and practices as necessary based on the information provided by the assessments, audits and reviews.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity represents a critical component of the Company’s overall approach to risk management. The Company’s cybersecurity policies, standards and practices are fully integrated into the Company’s enterprise risk management (“ERM”) approach, and cybersecurity risks are among the core enterprise risks that are subject to oversight by the Board of Directors, the Audit Committee, and management’s Risk Review Committee. The Company’s cybersecurity policies, standards and incident response practices generally follow recognized frameworks established by National Institute of Standards and Technology (“NIST”). The Company approaches cybersecurity threats, as such term is defined in Form 20-F, Part II, Item 16K(a), through a cross-functional, multilayered approach, with the specific goals of: (i) identifying, preventing and mitigating actual or potential cybersecurity threats to the Company; (ii) preserving the confidentiality, integrity and availability of the information that we collect and store to use in our business; (iii) protecting the Company’s intellectual property; (iv) maintaining the confidence of our customers, clients and business partners; and (v) providing appropriate public disclosure of cybersecurity risks and incidents when required.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board of Directors, in coordination with the Audit Committee, oversees the management of risks from cybersecurity threats, including the policies, standards, processes and practices that the Company’s management implements to address risks from cybersecurity threats. The Audit Committee receives regular presentations and reports on cybersecurity risks, which address a wide range of topics including, for example, recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the Company’s peers and third parties. The Audit Committee timely oversees any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. Risks of cybersecurity threats are also discussed with the Board of Directors in connection with other relevant matters such as enterprise risk management, operational budgeting, strategic planning, business continuity planning, mergers and acquisitions, and brand management.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives regular presentations and reports on cybersecurity risks, which address a wide range of topics including, for example, recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the Company’s peers and third parties. The Audit Committee timely oversees any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed. Risks of cybersecurity threats are also discussed with the Board of Directors in connection with other relevant matters such as enterprise risk management, operational budgeting, strategic planning, business continuity planning, mergers and acquisitions, and brand management.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives regular presentations and reports on cybersecurity risks, which address a wide range of topics including, for example, recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to the Company’s peers and third parties.
Cybersecurity Risk Role of Management [Text Block]	The Company’s Chief Information Security Officer is the member of the Company’s management that is principally responsible for overseeing the Company’s security incident response plan and cybersecurity risk management program. The Chief Information Security Officer works in partnership with members of the Company’s Risk Review Committee and other business leaders across the Company, including the Chief Information Officer, Chief Accounting Officer, VP and Deputy General Counsel, Litigation, and the Chief Compliance Officer. The Company’s Chief Information Security Officer reports to the CFO. This group has industry experience building and leading security teams and is responsible for overseeing data security and Company-wide preparedness. The Chief Information Security Officer is a qualified holder of CISSP and CISM certifications and has served in various roles in information technology and information security for over 10 years. Prior experience includes security leadership roles in financial services. The Company’s Chief Information Security Officer manages a dedicated enterprise security team who provide information assurance governance and consultation across all regions of our business. The enterprise security team works collaboratively across the Company to implement the Company’s security strategy, which includes evaluating and considering the relevance of specific cyber security capabilities to the Company’s business model and external threats. To facilitate the success of this strategy, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents in accordance with the Company’s security incident response plan designed to monitor the prevention, detection, mitigation and remediation of cybersecurity incidents in real time, and report such incidents to executive management, and to the Audit Committee when appropriate.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Company’s Chief Information Security Officer reports to the CFO. This group has industry experience building and leading security teams and is responsible for overseeing data security and Company-wide preparedness. The Chief Information Security Officer is a qualified holder of CISSP and CISM certifications and has served in various roles in information technology and information security for over 10 years. Prior experience includes security leadership roles in financial services.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	This group has industry experience building and leading security teams and is responsible for overseeing data security and Company-wide preparedness. The Chief Information Security Officer is a qualified holder of CISSP and CISM certifications and has served in various roles in information technology and information security for over 10 years. Prior experience includes security leadership roles in financial services.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The enterprise security team works collaboratively across the Company to implement the Company’s security strategy, which includes evaluating and considering the relevance of specific cyber security capabilities to the Company’s business model and external threats. To facilitate the success of this strategy, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents in accordance with the Company’s security incident response plan designed to monitor the prevention, detection, mitigation and remediation of cybersecurity incidents in real time, and report such incidents to executive management, and to the Audit Committee when appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Leases - Schedule of Lease Expense Components (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Leases [Abstract]
Operating lease cost	$ 59	$ 39	$ 34
Finance lease cost:
Amortization of right-of-use assets	27	13	5
Interest on lease liabilities	3	1	0
Total finance lease cost	$ 30	$ 14	$ 5

Revenue - Schedule of Revenue by Geographical Location (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue	$ 4,920	$ 4,007	$ 3,233
United States
Disaggregation of Revenue [Line Items]
Revenue	1,761	1,716	1,413
PRC
Disaggregation of Revenue [Line Items]
Revenue	874	749	697
Japan
Disaggregation of Revenue [Line Items]
Revenue	825	296	121
Taiwan
Disaggregation of Revenue [Line Items]
Revenue	695	629	522
Republic of Korea
Disaggregation of Revenue [Line Items]
Revenue	392	324	308
Other countries
Disaggregation of Revenue [Line Items]
Revenue	$ 373	$ 293	$ 172

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Net Income (Loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3	0	0
Restricted share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2	0	0
Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1	0	0

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,324	$ 800
Less: Accumulated depreciation	(552)	(446)
Total property and equipment, net	772	354
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	218	167
Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	914	545
Fixtures and vehicles
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	63	47
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 129	$ 41

Segment and Geographic Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Segment Reporting Information [Line Items]
Revenue	$ 4,920	$ 4,007	$ 3,233
Staff costs: Share-based compensation cost (equity settled)	(1,052)	(820)	(1,070)
Other non-staff costs	(3)	5	(80)
Operating income (loss)	900	831	111
Income (loss) from equity investments, net	14	(237)	(20)
Interest income, net	111	116	110
Other non-operating income (loss), net	132	10	11
Income (loss) before income taxes	1,157	720	212
Income tax benefit (expense)	(253)	72	94
Net income (loss)	904	792	306
Reportable Segment
Segment Reporting Information [Line Items]
Revenue	4,920	4,007	3,233
Staff costs: Salaries, bonuses and benefits	(1,674)	(1,320)	(1,300)
Staff costs: Share-based compensation cost (equity settled)	(1,052)	(820)	(1,037)
Staff costs: Employer taxes related to share-based compensation	(160)	(224)	(176)
Project materials costs, third-party fees paid to consultants, information technology, research and development expenses (excluding employee-related expenses), accounting and legal professional services fees, advertising expenses, and other corporate-related expenses	(881)	(634)	(367)
Amortization	(100)	(87)	(86)
Depreciation	(150)	(96)	(76)
Operating income (loss)	$ 900	$ 831	$ 111
Operating margin	18.00%	21.00%	3.00%
Income (loss) from equity investments, net	$ 14	$ (237)	$ (20)
Interest income, net	111	116	110
Other non-operating income (loss), net	132	10	11
Income (loss) before income taxes	1,157	720	212
Income tax benefit (expense)	(253)	72	94
Net income (loss)	904	792	306
License and Other Revenue
Segment Reporting Information [Line Items]
Revenue	2,307	1,839	1,431
License and Other Revenue \| Reportable Segment
Segment Reporting Information [Line Items]
Revenue	2,307	1,839	1,431
Royalty Revenue
Segment Reporting Information [Line Items]
Revenue	2,613	2,168	1,802
Royalty Revenue \| Reportable Segment
Segment Reporting Information [Line Items]
Revenue	$ 2,613	$ 2,168	$ 1,802

Derivatives - Schedule of Non-designated Hedging Instrument Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign currency forward contracts	$ 0	$ 0	$ (1)

Income Taxes - Schedule of Benefit (Expense) for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Current:
United Kingdom	$ 0	$ (1)	$ 2
Foreign	(238)	(145)	(178)
Total current tax benefit (expense)	(238)	(146)	(176)
Deferred:
United Kingdom	27	97	114
Foreign	(42)	121	156
Total deferred tax benefit (expense)	(15)	218	270
Total income tax benefit (expense)	$ (253)	$ 72	$ 94

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Share-based Compensation - Schedule of Share-Based Compensation Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax share-based compensation cost	$ 1,052	$ 820	$ 1,070
Less: income tax effect	168	144	210
Net share-based compensation cost	884	676	860
Cost of sales
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax share-based compensation cost	29	26	41
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax share-based compensation cost	762	576	728
Selling, general and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax share-based compensation cost	$ 261	$ 218	$ 301

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2023
Debt Instrument [Line Items]
Loss contingency				$ 40.0
Loss contingency accrual reversal	$ 40.0
Purchase commitment		$ 1,056.5
Arduino \| Financial Standby Letter of Credit
Debt Instrument [Line Items]
Guarantor obligation		$ 0.0	$ 5.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Derivatives

12 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

12 - Derivatives

As of March 31, 2026, the notional value of outstanding foreign currency forward contracts designated as cash flow hedges was £405.0 million and the fair value was $(9.5) million. As of March 31, 2026, the Company did not have any foreign currency contracts held without a hedge designation.

As of March 31, 2025, the notional value of outstanding foreign currency forward contracts designated as cash flow hedges was £335.0 million and the fair value was $4.7 million. As of March 31, 2025, the notional value of outstanding foreign currency contracts held without a hedge designation was €5.0 million and the fair value was $0.0 million.

The following table presents the notional amounts of the Company’s outstanding derivative instruments:


	As of
(in millions)	March 31, 2026		March 31, 2025
Designated as cash flow hedges
Foreign currency forward contracts	$	544	$	428
Non-designated hedges
Foreign currency forward contracts	$	—	$	5

The following table presents the fair value of the Company’s outstanding derivative instruments:


	Derivative Assets				Derivative Liabilities
	As of March 31,				As of March 31,
(in millions)	2026		2025		2026		2025
Designated as cash flow hedges
Foreign currency forward contracts	$	—	$	7	$	10	$	2

Cash Flow Hedge Gains (Losses)

The following table presents net gains (losses) on foreign currency forward contracts designated as cash flow hedges:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Consolidated Statements of Comprehensive Income:
Change in gains (losses) recognized in accumulated other comprehensive income (loss) on cash flow hedge derivatives	$	8	$	9	$	8
(Gains) losses reclassified from accumulated other comprehensive income (loss) into income	(22)		(4)		(18)
Income tax benefit (expense) on cash flow hedges	4		(2)		2
Net change in fair value of the effective portion of designated cash flow hedges, net of tax (1)	$	(10)	$	3	$	(8)
Consolidated Income Statements, before tax:
Research and development	$	14	$	2	$	10
Selling, general and administrative expenses	$	8	$	2	$	8

(1) All amounts reported in accumulated other comprehensive income at the reporting date are expected to be reclassified into earnings within the next 12 months.

For the fiscal years ended March 31, 2026, 2025 and 2024, the Company’s cash flow hedges were highly effective with immaterial amounts of ineffectiveness recorded in the Consolidated Income Statements for these designated cash flow hedges, and all components of each derivative instrument’s gain or loss were included in the assessment of hedge effectiveness.

Non-designated Hedging Instrument Gains (Losses)

The following table presents net gains (losses) on derivatives not designated as hedging instruments recorded in other non-operating income (loss), net in the Consolidated Income Statements:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Foreign currency forward contracts	$	—	$	—	$	(1)

The Company classifies foreign currency forward contracts as Level 2 fair value measurements pursuant to the fair value hierarchy. See Note 13 - Fair Value, for further details.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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