Gen Reports Q2 FY24 Results and Confirms Annual Guidance Within Range

• Revenue of $948 million, up 27% in USD and 28% in CC
• Bookings of $923 million, up 28% in USD and 27% in CC
• Operating Income of $549 million, up 41% in USD and 43% in CC
• Operating Margin of 57.9%, up 600 basis points
• Diluted EPS of $0.47, up 4% in USD and up 9% in CC

"Our Q2 results demonstrate the Gen team's consistent commitment to driving sustainable and profitable growth," said Natalie Derse, CFO of Gen. "In Q2 we returned to sequential customer count growth up 380,000 while we also grew ARPU and improved retention. We see a great opportunity to continue this momentum, further extending our market leadership in Cyber Safety and driving significant value for our customers and shareholders."

Q3 FY24 Non-GAAP Guidance

• Q3 FY24 Revenue expected to be in the range of $950 to $960 million
• Q3 FY24 EPS expected to be in the range of $0.49 to $0.51

Fiscal Year 2024 Non-GAAP Annual Guidance

• FY24 Revenue expected to be in the range of $3.810 to $3.835 billion
• FY24 EPS expected to be in the range of $1.95 to $2.00

Quarterly Cash Dividend
Gen's Board of Directors has approved a regular quarterly cash dividend of $0.125 per common share to be paid on December 13, 2023, to all shareholders of record as of the close of business on November 20, 2023. 

For additional details regarding Gen's results and outlook, as well as the company's FY24 Q2 Investor Letter, please visit Investor.GenDigital.com.

Gen's 1st Anniversary Investor Update
On its first anniversary as Gen, Company will host an Investor Update today, November 7, 2023, from 10:30 a.m. to 1:00 p.m. EST. Gen leadership will offer a detailed look into the business, review the company's market opportunity and priorities and its long-term model. The FY24 Q2 Results Q&A session will be held in combination with the Investor Update Q&A.

A live video webcast of the presentation and Q&A can be accessed at Investor.GenDigital.com in the Events section. A replay of this event and presentation materials will be posted following the event's conclusion. 

About Gen
Gen™ (NASDAQ: GEN) is a global company dedicated to powering Digital Freedom through its trusted Cyber Safety brands, Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. The Gen family of consumer brands is rooted in providing safety for the first digital generations. Now, Gen empowers people to live their digital lives safely, privately, and confidently today and for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to nearly 500 million users in more than 150 countries. Learn more at GenDigital.com.

Forward-Looking Statements
This press release contains statements which may be considered forward-looking within the meaning of the U.S. federal securities laws. In some cases, you can identify these forward-looking statements by the use of terms such as "expect," "will," "continue," or similar expressions, and variations or negatives of these words, but the absence of these words does not mean that a statement is not forward-looking. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, the quotes under "Q2 Non-GAAP YoY" including expectations relating to achievement of long-term objectives, and the statements under "Q3 FY24 Non-GAAP Guidance" and "Fiscal Year 2024 Non-GAAP Annual Guidance" including expectations relating to Q3 FY24 and FY24 non-GAAP revenue and non-GAAP EPS, and any statements of assumptions underlying any of the foregoing. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include, but are not limited to, those related to: the consummation of or anticipated impacts of acquisitions (including our ability to achieve synergies and associated cost savings from the merger with Avast); divestitures, restructurings, stock repurchases, financings, debt repayments and investment activities; difficulties in executing the operating model for the consumer Cyber Safety business; lower than anticipated returns from our investments in direct customer acquisition; difficulties in retaining our existing customers and converting existing non-paying customers to paying customers; difficulties and delays in reducing run rate expenses and monetizing underutilized assets; the successful development of new products and upgrades and the degree to which these new products and upgrades gain market acceptance; our ability to maintain our customer and partner relationships; the anticipated growth of certain market segments;  fluctuations and volatility in our stock price; our ability to successfully execute strategic plans; the vulnerability of our solutions, systems, websites and data to intentional disruption by third parties; changes to existing accounting pronouncements or taxation rules or practices; and general business and macroeconomic changes in the U.S. and worldwide, including economic recessions, the impact of inflation, fluctuations in foreign currency exchange rates, changes in interest rates or tax rates, and conflicts including Russia's invasion of Ukraine. Additional information concerning these and other risk factors is contained in the Risk Factors sections of our most recent reports on Form 10-K and Form 10-Q. We encourage you to read those sections carefully. There may also be other factors that have not been anticipated or are not described in our periodic filings, generally because we did not believe them to be significant at the time, which could cause actual results to differ materially from our projections and expectations. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. We assume no obligation, and do not intend, to update these forward-looking statements as a result of future events or developments.

Use of Non-GAAP Financial Information
We use non-GAAP measures of operating margin, operating income, net income and earnings per share, which are adjusted from results based on GAAP and exclude certain expenses, gains and losses. We also provide the non-GAAP metrics of revenues, and constant currency revenues. These non-GAAP financial measures are provided to enhance the user's understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing Gen's performance, as well as in planning and forecasting future periods. These non-GAAP financial measures are not computed according to GAAP and the methods we use to compute them may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Readers are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results, which is attached to our quarterly earnings release, and which can be found, along with other financial information including the Earnings Presentation, on the investor relations page of our website at Investor.GenDigital.com. No reconciliation of the forecasted range for non-GAAP revenues and EPS guidance is included in this release because most non-GAAP adjustments pertain to events that have not yet occurred. It would be unreasonably burdensome to forecast, therefore we are unable to provide an accurate estimate. 

	GEN DIGITAL INC. Condensed Consolidated Balance Sheets (Unaudited, in millions)
						September 29, 2023		March 31, 2023
	ASSETS
	Current assets:
	Cash and cash equivalents					$                   629		$                   750
	Accounts receivable, net					147		168
	Other current assets					278		284
	Assets held for sale					22		31
	Total current assets					1,076		1,233
	Property and equipment, net					75		76
	Operating lease assets					39		43
	Intangible assets, net					2,859		3,097
	Goodwill					10,199		10,217
	Other long-term assets					2,163		1,281
	Total assets					$              16,411		$              15,947
	LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
	Current liabilities:
	Accounts payable					$                     66		$                     77
	Accrued compensation and benefits					61		102
	Current portion of long-term debt					175		233
	Contract liabilities					1,599		1,708
	Current operating lease liabilities					19		26
	Other current liabilities					540		703
	Total current liabilities					2,460		2,849
	Long-term debt					9,333		9,529
	Long-term contract liabilities					73		80
	Deferred income tax liabilities					256		395
	Long-term income taxes payable					1,213 Werbung Mehr Nachrichten zur Gen Digital Inc. Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 12.05.24 - wallstreet:online ... Beachtliche Rendite: Verizon ist eine der verlässlichsten Dividendenaktien der Welt 12.05.24 - wallstreet:online ... Standort Deutschland: DAX-Konzerne erhöhen Rekordinvestitionen in Forschung und Entwicklung! 12.05.24 - The Motley Fool Das passiert, wenn man 10.000 Euro in die BASF-Aktie investiert Breaking News:    Heftige Kursexplosion am Montag?! weiterlesen» Anzeige wo-site-teaser-box-16920_site-teaser-box_2024-05-12_09%253A00%253A00_2024-05-13_09%253A00%253A59