- NortonLifeLock (NASDAQ:NLOK) Shares Up 0.4% – Here’s Why
Apr 24, 2026 · defenseworld.net
NortonLifeLock Inc (NASDAQ: NLOK - Get Free Report) shares rose 0.4% during trading on Thursday. The stock traded as high as $20.15 and last traded at $19.99. Approximately 4,654,998 shares changed hands during trading, a decline of 19% from the average daily volume of 5,778,808 shares. The stock had previously closed at $19.91. NortonLifeLock Price
- NortonLifeLock (NASDAQ:NLOK) Trading 2.8% Higher – What’s Next?
Apr 2, 2026 · defenseworld.net
NortonLifeLock Inc (NASDAQ: NLOK - Get Free Report)'s stock price shot up 2.8% during trading on Wednesday. The stock traded as high as $19.10 and last traded at $18.83. 7,279,455 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 5,778,808 shares. The stock had previously closed at $18.32.
- LifeLock and Creighton University Discuss the Challenges of Identity Protection in the Age of AI
Jan 21, 2026 · globenewswire.com
NEW YORK, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Today's Marketplace (TMP) is proud to announce a featured interview with LifeLock's (NYSE: LOCK) General Manager, Ian Bednowitz, and Dustin Ormond, PhD, Assoc. Professor of Business Intelligence Analytics at the Heider College of Business at Creighton University.
- LIFELOCK AND CREIGHTON UNIVERSITY DISCUSS THE CHALLENGES OF IDENTITY PROTECTION IN THE AGE OF AI
Jan 21, 2026
NEW YORK, JAN. 21, 2026 (GLOBE NEWSWIRE) -- TODAY'S MARKETPLACE (TMP) IS PROUD TO ANNOUNCE A FEATURED INTERVIEW WITH LIFELOCK'S (NYSE: LOCK) GENERAL MANAGER, IAN BEDNOWITZ, AND DUSTIN ORMOND, PHD, ASSOC. PROFESSOR OF BUSINESS INTELLIGENCE ANALYTICS AT THE HEIDER COLLEGE OF BUSINESS AT CREIGHTON UNIVERSITY.
- NortonLifeLock (NASDAQ:NLOK) Stock Price Up 0.7% – Should You Buy?
Dec 27, 2025 · defenseworld.net
NortonLifeLock Inc (NASDAQ: NLOK - Get Free Report) shot up 0.7% on Friday. The company traded as high as $27.66 and last traded at $27.64. 2,016,648 shares were traded during trading, a decline of 65% from the average session volume of 5,778,808 shares. The stock had previously closed at $27.45. NortonLifeLock Trading Up 0.7% The
- Gen Expands Opportunities for Women in Tech
Nov 22, 2022
NORTHAMPTON, MA / ACCESSWIRE / November 22, 2022 / Gen Gen, Tuesday, November 22, 2022, Press release picture
By Amanda Davis
Creating more inclusive environments for women and girls is part of our everyday culture at Gen. From our company-wide employee resource group, WONDER (Women Outreach and Development Resources), to our ongoing efforts to hire and promote women at all levels, we are committed to making a world where women see themselves as the leaders and changemakers they truly are. And we're always on the lookout for ways to extend that approach beyond our own walls and into the broader tech world.
This year, we supported Women4Cyber, a non-profit European private foundation with the objective to promote, encourage, and support the participation of women in the field of cybersecurity, at Web Summit 2022. Web Summit's annual event brings together more than 70,000 people and companies that are redefining the tech industry, and we jumped at the chance to use this venue to discuss how better to serve and empower women in tech.
Our experts spoke on three panels across the four-day conference, including "Trust Me? The Human Side of Cyber Safety," "Metaverse for All," and "Women in Tech: Leadership Journeys and the Road Ahead." The Women in Tech presentation highlighted several key women tech leaders, explored their career journeys, discussed their unique experiences, and looked forward to a more diverse and empowered future. In addition, we donated $5,500 ($10 per participants' badge scan) to Women4Cyber.
This donation comes on the heels of our announcement earlier this year that we are investing $150,000 per year for two years in Women4Cyber. The funds from this multi-year partnership, as well as those from the Web Summit, will go towards the organization's work to eliminate the current gender gap in European tech by creating awareness, promoting tailored education and training programs, supporting and shaping gender-inclusive policies, and establishing partnerships, both in Europe and abroad.
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Our work with Women4Cyber includes product donations, traineeships and internships within our company, and the development and growth of the community by encouraging new Women4Cyber chapters where they don't exist.
We are excited to continue to partner with Women4Cyber and discover new ways to expand opportunities for women in tech. To learn more about the work they do in Europe and beyond, visit their website.
View additional multimedia and more ESG storytelling from Gen on 3blmedia.com.
Contact Info:
Spokesperson: Gen
Website: profiles/gen
Email: info@3blmedia.com
SOURCE: Gen
View source version on accesswire.com:
https://www.accesswire.com/727841/Gen-Expands-Opportunities-for-Women-in-Tech
- Norton Encourages Online Shoppers to Stay Safe and Shop Smart This Holiday Season
Nov 17, 2022
Experts Recommend Shoring Up Cyber Safety Best Practices Ahead of Cyber Monday
TEMPE, Ariz. and PRAGUE, Nov. 17, 2022 /PRNewswire/ -- In advance of Cyber Monday, the busiest online shopping day of the year, Norton, a consumer Cyber Safety brand of Gen™ (NASDAQ: GEN), encourages holiday shoppers to take steps to protect themselves from online fraud and identity theft – at its peak during the holidays – to bring back the joy of gifting. Norton inspires holiday shoppers to protect themselves from scams this season
Norton, a consumer Cyber Safety brand of Gen, encourages holiday shoppers to take steps to protect themselves from scams
Cyber Monday sales are expected to exceed $200 billion in 2022 – with online shopping volume steadily increasing year over year, so has the incidence of cybercrimes like fraud and identity theft. For many, safe online shopping concerns are rooted in real life. According to a new study from Norton conducted online in August 2022 by The Harris Poll among 1,000 U.S. adults, 1 in 4 U.S. adults (25%) reveal that they have been targeted by a scam while shopping online with nearly 40 percent of shoppers reporting that they have fallen victim to a scam during the holiday shopping season.
Holiday shopping and last-minute purchases can leave consumers stressed and vulnerable, creating a bounty of opportunities for cybercriminals and identity thieves to take advantage. Now is the time to take steps to protect yourself ahead of the holiday shopping frenzy.
"We want to help bring back the joy of the holiday season and empower everyone with the resources they need to shop online safely," said Kevin Roundy, Researcher and Technical Director at Norton Labs. "From inflation to supply chain issues, there are so many things out of our control this holiday season. Taking the time to pause and take proactive steps to protect your digital and financial life before Cyber Monday is one way everyone can take back control."
While the majority of Americans (89%) feel confident they can shop safely online, nearly 43 percent admit they are not sure of the best ways to shop online this holiday season. With rising costs and limited inventories of the hottest gifts, consumers appear to be taking more risks than ever before while filing up their carts. In fact, more than 2 in 5 consumers report risking their personal information in some way during the holiday season, leaving them vulnerable to identity theft and fraud.
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The holidays can be a hectic time for shoppers even without the risks of cybercriminals. Before online shoppers start checking off their lists of holiday gifts, they should prepare for a safe and secure shopping experience. Some advice from Norton experts includes:
Always shop on secured sites you trust – Before you buy, look for the little lock icon in the corner of your URL bar which tells you that the web page you are on has privacy protection. The URL of a secure site will start with "https." These websites mask any data you share, typically on pages that ask for passwords or financial information. Norton helps consumers shop safely online with products like Norton Safe Web, which enables users to check for unsafe hyperlinks with the Link Guard Feature. Play it safe – consider only doing online business with retailers you trust and have shopped with before. Watch out for 'too good to be true' deals – Black Friday and Cyber Monday deals have become a tradition of holiday shopping. But if a website offers a deal that seems too good to be true, then it probably is. "Special offers" and "rock bottom deals" can link back to phishing scams and fraud. Be careful not to click on ads or suspicious emails. Compare prices and pictures of the merchandise at similar websites to confirm. Be cautious about saving your credit card information on your accounts – Keeping your credit card information on a retailer's website could leave you vulnerable to future data breaches. And if a hacker accesses your favorite shopping account, they could make purchases with your card. To avoid credit card fraud woes, be selective about saving your credit card information on accounts if it's not required, and consider using a password manager, such as Norton Password Manager, to save your information in an encrypted vault rather than with online retailers, or a digital wallet or app like Apple Pay or Google Pay to increase your transaction security by shielding your account numbers from view of the merchant and potential hackers. Research charities before donating – Before you give to any charity, verify that the organization is legitimate. A good place to start is by checking the lists run by watchdog groups such as CharityWatch, CharityNavigator, and the Wise Giving Alliance. If you can, donate directly rather than through websites and unsolicited emails. Charity Scams take advantage of the generosity of others, especially during the holidays, resulting in people falling victim to phishing scams, identity theft, and credit card fraud.
To learn more about how to stay safe this holiday season, please visit the Norton Internet Security Center. Additional safe online shopping tips and other useful Cyber Safety information can be found on the Norton Internet Security Center.
About the Survey The research was conducted online in the United States by The Harris Poll on behalf of Norton among 1,000 adults aged 18+. The survey was conducted August 15 – September 1, 2022. Data are weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income, and propensity to be online to bring them in line with their actual proportions in the population.
Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 3.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.
About Norton Norton is a leading Cyber Safety brand of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its family of trusted consumer brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. 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 more than 500 million users in more than 150 countries. Learn more at Norton.com and GenDigital.com.
Jenna Torluemke Benson Kelsey Gen Edelman for Gen Press@GenDigital.com Benson.Kelsey@edelman.com Ahead of the Cyber Monday rush, Norton urges shoppers to protect themselves Norton is a leading Cyber Safety brand of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom Cision
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SOURCE Norton
- Gen Digital stock rises to pace S&P 500 gainers, after the former NortonLifeLock beats earnings expectations
Nov 9, 2022 · marketwatch.com
Shares of Gen Digital Inc. GEN, -1.20% shot up 6.3% in afternoon trading Wednesday, enough to pace the S&P 500's SPX, -1.92% gainers, after the cyber safety company, which changed its name from NortonLifeLock Inc. two days ago, reported better-than-expected fiscal second-quarter results. The company reported late Tuesday net income that fell to $69 million, or 12 cents a share, from $333 million, or 56 cents a share, in the year-ago period.
- Gen Reports 8% Revenue Growth in Q2 FY23 and Confirms Long-Term Target of $3 EPS
Nov 8, 2022
Gen Increases and Accelerates Synergy Targets for Avast Acquisition Closed in September
TEMPE, Ariz. and PRAGUE, Nov. 8, 2022 /PRNewswire/ -- Gen Digital Inc. (NASDAQ: GEN) released its results for the second quarter of Fiscal Year 2023, which ended Sept. 30, 2022. This marks the company's first earnings since becoming Gen™, a new company dedicated to powering Digital Freedom for people everywhere. Gen unites trusted names in Cyber Safety – Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. Gen Reports 8% Revenue Growth in Q2 FY23 and Confirms Long-Term Target of $3 EPS
"This week marks the next chapter for our company and its expanded purpose to power Digital Freedom," said Vincent Pilette, CEO of Gen. "While the digital world has made our lives simpler in so many ways, it's also created new threats, complexity and exposure. As Gen, we're committed to bringing our energy, credibility, and innovation to boldly tackle these challenges. We won't rest until we bring Cyber Safety, and more, to everyone."
Q2 Financial Highlights YoY
Q2 GAAP revenue was $748 million, up 8% in USD. Q2 GAAP diluted EPS from continuing operations was $0.12, compared to $0.56 a year ago, which included $175 million gain from building sales. First half fiscal year 2023 operating cash flow was $127 million.
Q2 Non-GAAP YoY
Revenue of $748 million, up 8% in USD and 12% in CC Bookings of $719 million, up 6% in USD and 11% in CC Operating Income of $388 million, up 7% in USD and 13% in CC Diluted EPS of $0.45, up 5% in USD and 12% in CC
"This quarter marks our 13th consecutive quarter of bookings growth. We continue to improve the structural profitability of our business model despite a challenging macroeconomic environment," said Natalie Derse, CFO of Gen. "The Avast integration is off to a great start and we've already identified additional cost synergies and revenue opportunities. Our broad product portfolio, diverse distribution channels, and relentless focus on execution position us very well to unlock value for our customers and shareholders."
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Cost Synergies Opportunity Update
Annual cost synergies increased to $300 million+ with additional upside potential from new reinvestment capacity for innovation and growth. The expected integration timeline is also shortened to 18 months.
Non-GAAP Q3 FY23 Guidance & Long-Term Target
Q3 FY23 Revenue expected to be in the range of $925 million to $940 million, reflecting the first full quarter of Avast Q3 FY23 EPS expected to be in the range of $0.42 to $0.45 Targeting annualized EPS of approximately $3 exiting fiscal year 2025
Quarterly Cash Dividend
Gen's Board of Directors has declared a quarterly cash dividend of $0.125 per common share to be paid on December 14, 2022, to all shareholders of record as of the close of business on November 21, 2022.
Q2 Earnings Call
November 8, 2022
2 p.m. PT / 5 p.m. ET
Webcast & Dial-In: Investor.GenDigital.com. A replay will be posted following the call.
For additional details regarding Gen's results and outlook, please see the Financials section of the Investor Relations website at Investor.GenDigital.com.
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. There's a new generation, and it's not Gen X, Y, or Z. It's Gen D: Generation Digital. Gen's 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 more than 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 statements under "Cost Synergies Opportunity Update" and "Non-GAAP Q3 FY23 Guidance & Long-Term Target," including expectations relating to annual cost synergies from and timeline of the Avast integration, Q3 FY23 non-GAAP revenue, non-GAAP EPS and targeted annualized EPS existing fiscal year 2025, 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 impact of acquisitions and our ability to achieve expected synergies and associated cost savings; retention of executive leadership team members; difficulties in improving sales and product development; difficulties in executing the operating model for the consumer cyber safety business; lower than anticipated returns from the Company's investments in direct customer acquisition; difficulties and delays in reducing run rate expenses and monetizing underutilized assets; the timing and market acceptance of new product releases and upgrades; the successful development of new products and the degree to which these products gain market acceptance; the ability to maintain customer and partner relationships; the ability of Gen to achieve its cost and operating efficiency goals; the anticipated growth of certain market segments; fluctuations in interest rates, tax rates and foreign currency exchange rates; fluctuations and volatility in Gen's stock price; the ability of Gen to successfully execute strategic plans; general business and economic conditions, including economic recessions and inflationary pressures; the current and future impact of the COVID-19 pandemic on the Company's business and industry; and the potential for corporate tax increases under the Biden Administration. Additional information concerning these and other risk factors is contained in the Risk Factors sections of Gen's most recent reports on Form 10-K and Form 10-Q. Gen assumes no obligation, and does 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, 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, constant currency revenues, and free cash flow, which is defined as cash flows from operating activities, less purchases of property and equipment. 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 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 30,
2022 April 1, 2022 ASSETS Current assets: Cash and cash equivalents $ 1,095 $ 1,887 Short-term investments — 4 Accounts receivable, net 152 120 Other current assets 345 193 Assets held for sale 30 56 Total current assets 1,622 2,260 Property and equipment, net 108 60 Operating lease assets 50 74 Intangible assets, net 3,332 1,023 Goodwill 10,126 2,873 Other long-term assets 644 653 Total assets $ 15,882 $ 6,943 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 66 $ 63 Accrued compensation and benefits 111 81 Current portion of long-term debt 175 1,000 Contract liabilities 1,597 1,264 Current operating lease liabilities 24 18 Other current liabilities 852 639 Total current liabilities 2,825 3,065 Long-term debt 9,883 2,736 Long-term contract liabilities 87 42 Deferred income tax liabilities 392 75 Long-term income taxes payable 913 996 Long-term operating lease liabilities 41 75 Other long-term liabilities 43 47 Total liabilities 14,184 7,036 Total stockholders' equity (deficit) 1,698 (93) Total liabilities and stockholders' equity (deficit) $ 15,882 $ 6,943 GEN DIGITAL INC. Condensed Consolidated Statements of Operations (Unaudited, in millions, except per share amounts) Three Months Ended Six Months Ended September 30,
2022 October 1, 2021 September 30,
2022 October 1, 2021 Net revenues $ 748 $ 692 $ 1,455 $ 1,378 Cost of revenues 119 100 221 202 Gross profit 629 592 1,234 1,176 Operating expenses: Sales and marketing 167 150 323 306 Research and development 73 66 134 134 General and administrative 110 63 214 108 Amortization of intangible assets 29 21 50 42 Restructuring and other costs 9 5 11 12 Total operating expenses 388 305 732 602 Operating income (loss) 241 287 502 574 Interest expense (48) (31) (79) (63) Other income (expense), net 2 177 1 174 Income (loss) before income taxes 195 433 424 685 Income tax expense (benefit) 126 100 155 171 Net income (loss) $ 69 $ 333 $ 269 $ 514 Net income (loss) per share - basic $ 0.12 $ 0.57 $ 0.46 $ 0.88 Net income (loss) per share - diluted $ 0.12 $ 0.56 $ 0.45 $ 0.87 Weighted-average shares outstanding: Basic 590 582 583 581 Diluted 595 591 599 591 GEN DIGITAL INC. Condensed Consolidated Statements of Cash Flows (Unaudited, in millions) Three Months Ended Six Months Ended September 30,
2022 October 1, 2021 September 30,
2022 October 1, 2021 OPERATING ACTIVITIES: Net income $ 69 $ 333 $ 269 $ 514 Adjustments: Amortization and depreciation 49 35 78 71 Impairments and write-offs of current and long-lived assets (5) 3 (5) 3 Stock-based compensation expense 29 13 53 33 Deferred income taxes (19) 12 (51) 13 Loss (gain) on extinguishment of debt 9 — 9 5 Gain on sale of property — (175) — (175) Non-cash operating lease expense 7 6 11 11 Other (19) (2) (45) 5 Changes in operating assets and liabilities, net of acquisitions: Accounts receivable, net 4 (3) 17 9 Accounts payable (27) 3 (18) 27 Accrued compensation and benefits 35 6 3 (36) Contract liabilities (32) (13) (85) (47) Income taxes payable (151) (118) (91) (97) Other assets 9 (46) 9 (5) Other liabilities (46) 6 (27) (13) Net cash provided by (used in) operating activities (88) 60 127 318 INVESTING ACTIVITIES: Purchases of property and equipment (2) (1) (4) (2) Payments for acquisitions, net of cash acquired (6,550) (40) (6,550) (40) Proceeds from the maturities and sales of short-term investments — — 4 4 Proceeds from the sale of property — 355 — 355 Other 2 — 4 (4) Net cash provided by (used in) investing activities (6,550) 314 (6,546) 313 FINANCING ACTIVITIES: Repayments of debt (2,328) (10) (2,738) (382) Proceeds from issuance of debt, net of issuance costs 8,954 — 8,954 512 Net proceeds from sales of common stock under employee stock incentive plans 6 7 6 8 Tax payments related to vesting of restricted stock units — (1) (16) (14) Dividends and dividend equivalents paid (72) (73) (153) (157) Repurchases of common stock (104) — (404) — Net cash provided by (used in) financing activities 6,456 (77) 5,649 (33) Effect of exchange rate fluctuations on cash and cash equivalents (14) (1) (22) (5) Change in cash and cash equivalents (196) 296 (792) 593 Beginning cash and cash equivalents 1,291 1,230 1,887 933 Ending cash and cash equivalents $ 1,095 $ 1,526 $ 1,095 $ 1,526
GEN DIGITAL INC. Reconciliation of Selected GAAP Measures to Non-GAAP Measures (1) (2) (Unaudited, in millions, except per share amounts) Three Months Ended September 30,
2022 October 1, 2021 Operating income (loss) $ 241 $ 287 Contract liabilities fair value adjustment — 3 Stock-based compensation 29 13 Amortization of intangible assets 45 32 Restructuring and other costs 9 5 Acquisition and integration costs 58 21 Litigation costs 7 1 Other (1) 1 Operating income (loss) (Non-GAAP) $ 388 $ 363 Operating margin 32.2 % 41.5 % Operating margin (Non-GAAP) 51.9 % 52.2 % Net income (loss) $ 69 $ 333 Adjustments to net income (loss): Contract liabilities fair value adjustment — 3 Stock-based compensation 29 13 Amortization of intangible assets 45 32 Restructuring and other costs 9 5 Acquisition and integration costs 58 21 Litigation costs 7 1 Other (10) 1 Non-cash interest expense 3 2 Loss (gain) on extinguishment of debt 9 — Gain on sale of properties — (175) Total adjustments to GAAP income (loss) before income taxes 150 (97) Adjustment to GAAP provision for income taxes 50 19 Total adjustment to income (loss), net of taxes 200 (78) Net income (loss) (Non-GAAP) $ 269 $ 255 Diluted net income (loss) per share $ 0.12 $ 0.56 Adjustments to diluted net income (loss) per share: Contract liabilities fair value adjustment — 0.01 Stock-based compensation 0.05 0.02 Amortization of intangible assets 0.08 0.05 Restructuring and other costs 0.02 0.01 Acquisition and integration costs 0.10 0.04 Litigation costs 0.01 0.00 Other (0.02) 0.00 Non-cash interest expense 0.01 0.00 Loss (gain) on extinguishment of debt 0.02 — Gain on sale of properties — (0.30) Total adjustments to GAAP income (loss) before income taxes 0.25 (0.16) Adjustment to GAAP provision for income taxes 0.08 0.03 Total adjustment to income (loss), net of taxes 0.34 (0.13) Diluted net income (loss) per share (Non-GAAP) $ 0.45 $ 0.43 Diluted weighted-average shares outstanding 595 591 Diluted weighted-average shares outstanding (Non-GAAP) 595 591 ___________________________ (1) This presentation includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be
considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these
non-GAAP measures, see Appendix A. (2) Amounts may not add due to rounding. GEN DIGITAL INC. Revenues and Cyber Safety Metrics (Unaudited, in millions, except per user data) Revenues (Non-GAAP) Three Months Ended September 30,
2022 October 1, 2021 Variance in % Revenues $ 748 $ 692 8 % Contract liabilities fair value adjustment (1) — 3 Revenues (Non-GAAP) 748 695 8 % Exclude foreign exchange impact (2) 31 — Constant currency adjusted revenues (Non-GAAP) $ 779 $ 695 12 % Cyber Safety Metrics Three Months Ended (3) September 30,
2022 (4) October 1,
2021 Direct customer revenues $ 660 $ 619 Partner revenues $ 74 $ 64 Total Cyber Safety revenues $ 734 $ 683 Legacy revenues $ 14 $ 12 Direct customer count (at quarter end) 38.6 24.0 Direct average revenue per user (ARPU) $ 6.98 $ 8.63
___________________________ (1) Contract liabilities fair value adjustment represents the quarterly Avira deferred revenue haircut amortization recognized during
the quarter. (2) Calculated using year ago foreign exchange rates. (3) From time to time, changes in our product hierarchy cause changes to the revenue channels above. When changes occur,
we recast historical amounts to match the current revenue channels. Direct revenues currently includes Mobile App Store
customers, and legacy revenues includes revenues from products or solutions that are no longer in operations in exited
markets, have been discontinued or identified to be discontinued, or remain in maintenance mode as a result of integration
and product portfolio decisions. As such, the changes to historical revenue amounts and the other performance metrics,
including direct customer count and ARPU, are reflected for all periods presented above. (4) The performance metrics for the three months ended September 30, 2022 include the revenues earned and customers
acquired through our Merger with Avast. ARPU is based on average customer count and assumes full quarter of revenue
for both companies.
GEN DIGITAL INC. Appendix A Explanation of Non-GAAP Measures and Other Items
Objective of non-GAAP measures: We believe our presentation of non-GAAP financial measures, when taken together with corresponding GAAP financial measures, provides meaningful supplemental information regarding the Company's operating performance for the reasons discussed below. Our management team uses these non-GAAP financial measures in assessing our performance, as well as in planning and forecasting future periods. Due to the importance of these measures in managing the business, we use non-GAAP measures in the evaluation of management's compensation. 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 and 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.
Contract liabilities adjustment: Our non-GAAP net revenues eliminate the impact of contract liabilities purchase accounting adjustments. Prior to our adoption of ASU 2021-08 in fiscal 2022, GAAP required an adjustment to the liability for acquired contract liabilities such that the liability approximates how much we, the acquirer, would have to pay a third party to assume the liability. We believe that eliminating the impact of this adjustment improves the comparability of revenues between periods. Also, although the adjustment amounts will never be recognized in our GAAP financial statements, we do not expect the acquisitions to affect the future renewal rates of revenues excluded by the adjustments. In addition, our management uses non-GAAP net revenues, adjusted for the impact of purchase accounting adjustments to assess our operating performance and overall revenue trends. Nevertheless, non-GAAP net revenues has limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP net revenues. We believe these adjustments are useful to investors as an additional means to reflect revenue trends of our business. However, other companies in our industry may not calculate these measures in the same manner which may limit their usefulness for comparative purposes. Our acquisition of Avira during the fourth quarter of fiscal 2021 was the last acquisition pre-adoption of the new literature.
Stock-based compensation: This consists of expenses for employee restricted stock units, performance-based awards, bonus share programs, stock options and our employee stock purchase plan, determined in accordance with GAAP. We evaluate our performance both with and without these measures because stock-based compensation is a non-cash expense and can vary significantly over time based on the timing, size, nature and design of the awards granted, and is influenced in part by certain factors that are generally beyond our control, such as the volatility of the market value of our common stock. In addition, for comparability purposes, we believe it is useful to provide a non-GAAP financial measure that excludes stock-based compensation to facilitate the comparison of our results to those of other companies in our industry.
Amortization of intangible assets: Amortization of intangible assets consists of amortization of acquisition-related intangibles assets such as developed technology, customer relationships and trade names acquired in connection with business combinations. We record charges relating to the amortization of these intangibles within both cost of revenues and operating expenses in our GAAP financial statements. Under purchase accounting, we are required to allocate a portion of the purchase price to intangible assets acquired and amortize this amount over the estimated useful lives of the acquired intangible assets. However, the purchase price allocated to these assets is not necessarily reflective of the cost we would incur to internally develop the intangible asset. Further, amortization charges for our acquired intangible assets are inconsistent in size and are significantly impacted by the timing and valuation of our acquisitions. We eliminate these charges from our non-GAAP operating results to facilitate an evaluation of our current operating performance and provide better comparability to our past operating performance.
Restructuring and other costs: Restructuring charges are costs associated with a formal restructuring plan and are primarily related to employee severance and benefit arrangements, contract termination costs, and assets write-offs, as well as other exit and disposal costs. Included in other exit and disposal costs are costs to exit and consolidate facilities in connection with restructuring events. We exclude restructuring and other costs from our non-GAAP results as we believe that these costs are incremental to core activities that arise in the ordinary course of our business and do not reflect our current operating performance, and that excluding these charges facilitates a more meaningful evaluation of our current operating performance and comparisons to our past operating performance.
Acquisition-related costs: These represent the transaction and business integration costs related to significant acquisitions that are charged to operating expense in our GAAP financial statements. These costs include incremental expenses incurred to affect these business combinations such as advisory, legal, accounting, valuation, and other professional or consulting fees. We exclude these costs from our non-GAAP results as they have no direct correlation to the operation of our business, and because we believe that the non-GAAP financial measures excluding these costs provide meaningful supplemental information regarding the spending trends of our business. In addition, these costs vary, depending on the size and complexity of the acquisitions, and are not indicative of costs of future acquisitions.
Litigation costs: We may periodically incur charges or benefits related to litigation settlements, legal contingency accruals and third-party legal costs related to certain legal matters. We exclude these charges and benefits when associated with a significant matter because we do not believe they are reflective of ongoing business and operating results.
Non-cash interest expense and amortization of debt issuance costs: In accordance with GAAP, we separately account for the value of the conversion feature on our convertible notes as a debt discount that reflects our assumed non-convertible debt borrowing rates. We amortize the discount and debt issuance costs over the term of the related debt. We exclude the difference between the imputed interest expense, which includes the amortization of the conversion feature and of the issuance costs, and the coupon interest payments because we believe that excluding these costs provides meaningful supplemental information regarding the cash cost of our convertible debt and enhance investors' ability to view the Company's results from management's perspective.
Gain (loss) on extinguishment of debt: We record gains or losses on extinguishment of debt. Gains or losses represent the difference between the fair value of the exchange consideration and the carrying value of the liability component of the debt at the date of extinguishment. We exclude the gain or loss on debt extinguishment in our non-GAAP results because they are not reflective of our ongoing business.
Gain (loss) on equity investments: We record gains or losses, unrealized and realized, on equity investments in privately-held companies. We exclude the net gains or losses because we do not believe they are reflective of our ongoing business.
Gain (loss) on sale of properties: We periodically recognize gains or losses from the disposition of land and buildings. We exclude such gains or losses because they are not reflective of our ongoing business and operating results.
Income tax effects and adjustments: We use a non-GAAP tax rate that excludes (1) the discrete impacts of changes in tax legislation, (2) most other significant discrete items, (3) unrealized gains or losses from remeasurement of a foreign currency denominated deferred tax asset with no cash tax impact and (4) the income tax effects of the non-GAAP adjustment to our operating results described above. We believe making these adjustments facilitates a better evaluation of our current operating performance and comparisons to past operating results. Our tax rate is subject to change for a variety of reasons, such as significant changes in the geographic earnings mix due to acquisition and divestiture activities or fundamental tax law changes in major jurisdictions where we operate.
Diluted GAAP and non-GAAP weighted-average shares outstanding: Diluted GAAP and non-GAAP weighted-average shares outstanding are generally the same, except in periods when there is a GAAP loss from continuing operations. In accordance with GAAP, we do not present dilution for GAAP in periods in which there is a loss from continuing operations. However, if there is non-GAAP net income, we present dilution for non-GAAP weighted-average shares outstanding in an amount equal to the dilution that would have been presented had there been GAAP income from continuing operations for the period.
Bookings: Bookings are defined as customer orders received that are expected to generate net revenues in the future. We present the operational metric of bookings because it reflects customers' demand for our products and services and to assist readers in analyzing our performance in future periods.
Free cash flow: Free cash flow is defined as cash flows from operating activities less purchases of property and equipment. Free cash flow is not a measure of financial condition under GAAP and does not reflect our future contractual commitments and the total increase or decrease of our cash balance for a given period, and thus should not be considered as an alternative to cash flows from operating activities or as a measure of liquidity.
Non-GAAP constant currency adjusted revenues: Non-GAAP constant currency adjusted revenues are defined as revenues adjusted for the fair value of acquired contract liabilities and foreign exchange impact, calculated by translating current period revenue using the year ago currency conversion rate.
Revenues (Non-GAAP): Revenues (Non-GAAP) excludes the quarterly Avira deferred revenue haircut amortization recognized during the quarter. We are presenting revenues (Non-GAAP) to provide readers with a better understanding of the impact from the Avira deferred revenue haircut on our historical results and to assist readers in analyzing results in future periods.
Direct customer count: Direct customers are defined as active paid users of our consumer solutions who have a direct billing relationship with us at the end of the reported period. We exclude users on free trials and users who have indirectly purchased our product or services through partners unless such users convert or renew their subscription directly with us, or sign up for a paid membership through our web store or third party app stores. Average direct customer count presents the average of the total number of direct customers at the beginning and end of the fiscal quarter.
Direct average revenues per user (ARPU): ARPU is calculated as estimated direct customer revenues for the period divided by the average direct customer count for the same period, expressed as a monthly figure. We monitor ARPU because it helps us understand the rate at which we are monetizing our consumer customer base. (PRNewsfoto/Gen Digital Inc.) Cision
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SOURCE Gen Digital Inc.
- U.S. midterm elections, Disney earnings, FTX-Binance spat - what's moving markets
Nov 8, 2022
By Geoffrey Smith
Investing.com -- The U.S. holds midterm elections, with the Republican Party tipped by opinion polls to regain control of the House of Representatives. The lockdown around the world's biggest iPhone factory is set to be extended after the Chinese city of Zhengzhou reports a jump in COVID-19 cases. Walt Disney leads a veritable deluge of earnings reports, while Lyft and Take-Two Interactive are set to open sharply lower after disappointing with their reports late on Monday. The house token of crypto exchange FTX crumbles another 20%, pulling Bitcoin and Ether down with it, and the U.S. government will publish its latest Short-Term Energy Outlook. Here's what you need to know in financial markets on Tuesday, 8th November.
1. Midterm elections hold fate of Biden's presidency, may trigger Trump's run in 2024
The U.S. holds midterm elections that may consign the rest of Joe Biden's presidency to lame-duck status, as voters punish the Democrats for presiding over the highest inflation in 40 years.
Opinion polls give the Republican Party a good chance of regaining control of the House of Representatives. Control of the Senate – split 50-50 since the 2020 elections – may also tip back to the GOP and various state Governorships are also up for contention.
The biggest subplot around the polls will be whether the GOP candidates most closely associated with former President Donald Trump perform more or less well than the norm. Trump again hinted heavily at announcing a presidential run in 2024 on Monday, and success by his acolytes may be the catalyst for such a move.
Republican control of Congress would significantly restrict the administration's ability to enact any more radical fiscal measures until 2024. Internationally, its biggest consequence may be to reduce U.S. military and economic support for Ukraine, an issue that some Trumpist GOP candidates, in particular, have actively campaigned on.
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2. Zhengzhou lockdown set to continue
The city of Zhengzhou said the number of COVID cases more than doubled on Monday, dashing hopes for an early end of the lockdown that is affecting the world's largest iPhone assembly plant.
The seven-day lockdown of the Airport Economy Zone is due to end on Wednesday but is now almost certain to be extended, causing further disruption to shipments of Apple's most important product in its most important quarter of the year.
Apple (NASDAQ:AAPL) stock, which has lost over 10% since the outbreak started, edged up 0.2% in premarket. Separately, the Zhengzhou plant's owner Foxconn said it will invest $170 million in U.S.-based electric truck maker Lordstown Motors (NASDAQ:RIDE).
3. Stocks set to open flat; Take-Two, Lyft under pressure; Disney earnings lead a cast of thousands
U.S. stock markets are set to open largely flat, as the post-payrolls rally since Friday takes a breather ahead of the midterm election results.
By 06:05 ET (11:05 GMT), Dow Jones futures were up 30 points or 0.1%, while S&P 500 futures were also up 0.1%, and Nasdaq 100 futures were up 0.3%, helped by consolidation in chipmaking stocks and Big Tech names that suffered after their third quarter reports.
Stocks likely to be in focus later include Take-Two Interactive (NASDAQ:TTWO), after the publisher of Grand Theft Auto cut its revenue forecasts for the current quarter late on Monday, and Lyft (NASDAQ:LYFT), which slumped 20% in premarket after reporting numbers that confirmed loss of market share to Uber (NYSE:UBER) in the last quarter.
Walt Disney (NYSE:DIS) heads an earnings roster that stretches out to the crack of doom. It will report after the close, alongside Occidental Petroleum (NYSE:OXY), NortonLifeLock (NASDAQ:NLOK), and News Corp (NASDAQ:NWSA). Early updates are due from DuPont de Nemours (NYSE:DD), Norwegian Cruise Line (NYSE:NCLH), Coty (NYSE:COTY), Workhorse (NASDAQ:WKHS) and GlobalFoundries (NASDAQ:GFS), as well as mortgage institutions Freddie Mac (OTC:FMCC) and Fannie Mae.
4. Binance-FTX bust-up keeps the pressure on crypto
The pressure on crypto exchange FTX intensified as heavy selling pushed its native token FTT down as much as 30% overnight. Bitcoin and Ether were also dragged down by over 5%.
Blockchain analytics indicate large-scale redemptions of funds from FTX are continuing, triggered by rival Binance's decision at the weekend to liquidate its holdings of FTT, amid concerns over the underlying soundness of FTT.
More and more commentators are casting the developments as an expression of deeper divisions between the owners of the two exchanges over the future regulation of crypto, especially in the U.S. where FTX's Sam Bankman-Fried has lobbied for draft legislation to take a stricter line on decentralized finance than many crypto enthusiasts would like.
Binance founder Changpeng Zhao has played down this version of events, saying the move is just a risk management strategy. Bankman-Fried, however, tweeted on Monday that "A competitor is trying to go after us with false rumors."
5. Oil takes a breather; API, STEO due
Crude oil prices corrected downward after days of healthy gains, as developments in China dented hopes for a quick end to the Zero-COVID policy.
By 06:25 ET, U.S. crude futures were down 1.3% at $90.64 a barrel, while Brent futures were down 1.0% at $96.98 a barrel.
The American Petroleum Institute releases weekly inventory data at 16:30 ET as usual, while the U.S. government will publish its latest Short-Term Energy Outlook at 12:00 ET.
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