Microsoft — Holding
Claim reviewed: Microsoft reported 15 million paid Microsoft 365 Copilot seats in FY2026 Q2 (28 Jan 2026). The number of customers with more than 35,000 Copilot seats tripled year-over-year. Agent 365 was introduced as an enterprise governance/identity/security control plane for agents.
Second scheduled review (30-day cadence; prior review 2026-04-24). The first review predated Microsoft’s Q3 FY26 release (29 Apr 2026) by five days, so this is the first review that can weigh the next earnings call — the fork the original memo and the inline note both anticipated. It re-anchors.
The three Q2 FY26 components remain accurate and unrestated. Microsoft’s 28 Jan 2026 disclosure of 15M paid M365 Copilot seats (+160% YoY), the >35,000-seat customer cohort tripling year-over-year, and the Agent 365 introduction all stand. No revision or restatement has been issued.
New evidence — Q3 FY26 (reported 29 Apr 2026). Paid Copilot seats reached over 20 million, up +5M from the 15M January figure — sequential acceleration. The large-deployment cohort quadrupled, with named accounts (Bayer, J&J, Mercedes-Benz, Roche each >90k seats; Accenture >740k). Microsoft Cloud revenue was $54.5B for the quarter.
Definition-drift note (carried forward for the next reviewer). In Q3 FY26 Microsoft shifted the large-customer threshold it highlights from >35k to >50k seats, and reported that cohort quadrupling. The claim’s specific “>35k tripled” figure is therefore now a historical Q2 datapoint without a like-for-like Q3 comparison. This is a change in Microsoft’s disclosure metric, not a falsification of the Q2 claim — the Q2 figure as asserted was and remains accurate.
Why Holding rather than Strengthened. Consistent with the VEN-2026-006 (Salesforce) call of the same review cycle: this claim is a point-in-time Q2 FY26 factual assertion, not a forward thesis. Q3 FY26 does not make the Q2 figures more accurate — they are exact, disclosed numbers already on the record. The reinforcing trajectory is logged here as context; the status reflects that the claim’s own three components are confirmed and unchanged. (strengthened was available and defensible; the editorial call kept status precise to what the claim asserts.)
Next checkpoint: 2026-06-29 (30 days). Watch the Q3 FY26 10-Q for any restatement of the seat count, and decide whether the ledger should track the migrated >50k-seat metric as a successor datapoint.