Several software companies, including McAfee Corp., have released preliminary financial results ahead of schedule to demonstrate to lenders their ability to withstand the impact of artificial intelligence. On February 17, Bloomberg reported that McAfee disclosed to bond investors that its preliminary fourth-quarter revenue was $626 million, largely unchanged from the same period last year. Separately, Rocket Software reported a 5.2% year-over-year increase in 2025 revenue, reaching approximately $1.4 billion. These early disclosures come amid significant turbulence in the software industry, where rapid AI advancements threaten to turn substantial corporate debt into a burden. Market data indicates that the early release of financials has had a stabilizing effect on debt prices. McAfee's approximately $2 billion unsecured notes due in 2030 rose to 85 cents on February 9, up from 79.5 cents the previous week. Rocket Software's roughly $2.7 billion term loan due in 2028 was quoted at around 97 cents on Tuesday.

McAfee has maintained stable performance with the help of AI technology, while Rocket Software has demonstrated growth momentum. McAfee, whose business relies on consumer cybersecurity subscriptions, also informed lenders that its adjusted profit for the fourth quarter was $292 million, down 1% year over year. According to the report, citing people familiar with the matter, the company uses AI technology for fraud detection. Its adjusted profit had declined 9% year over year in the third quarter, primarily due to one-time marketing investments and increased PC shipments. Following the preliminary results, McAfee's $2 billion 2030 unsecured notes initially recovered but have since fallen back near yearly lows, caught in the ongoing sell-off in the software sector. Meanwhile, Rocket Software, an IT modernization company backed by Bain Capital, saw its annual adjusted profit increase to $850 million from $801 million the previous year. Its annual recurring revenue jumped 6.3% to approximately $1.1 billion. The report, citing sources, indicated that the company's financial disclosure is related to its recent acquisition of the Vertica analytics database from OpenText, which provides secure information management for AI.

In addition to McAfee and Rocket Software, Perforce Software has also joined the trend of early financial disclosures. According to the report, citing informed sources, the company, backed by Clearlake Capital and Francisco Partners, reported annual revenue dipping slightly to $644 million from $654 million in 2024. During a recent conference call, Perforce management detailed efforts to boost sales by integrating AI into its products. Data analytics firm Cloudera, which typically keeps financial information confidential, also decided to post a statement on its website highlighting its recent performance. The company, supported by Clayton, Dubilier & Rice and KKR & Co., stated it had a strong finish to the fourth quarter of fiscal 2026, with new and expansion business growing more than 50% year over year and annual recurring revenue showing robust growth. Cloudera's $2.19 billion term loan due in 2028 was quoted at approximately 94 cents, up from 86.5 cents on January 30. Its $500 million second-lien loan due in 2029 was quoted at nearly 78 cents, up from 74 cents last week. The software industry is undergoing a fundamental shift driven by the rapid advancement of AI technology. Concerns that AI could overwhelm revenue growth for tech companies heavily reliant on borrowing have triggered a massive sell-off in the sector's debt, a phenomenon referred to as "SaaS-geddon." The report noted that troubled software loans surged by $18 billion in just one week. However, many private credit institutions have defended the sector, arguing that a significant number of borrowers will benefit from AI.