Slide 1: Q4 & Full Year 2024 Business Update
Q4 & Full Year 2024 Business Update Kevin Simzer Chief Operating Officer
Slide 2: In the News…
In the News… The Alleged LockBit Tesla Hacked As Ransomware Mastermind Electric Cars Targeted Has Been Identified In $1M Hacking Spree Trend Micro Taps NVIDIA Cybersecurity Vendors Software Tools for AI Enter Their AI Brain Era Cybersecurity Offering 2 | ©2025 Trend Micro Inc.
Slide 3: Q4 & FY2024 Results
Q4 & FY2024 Results Company Enterprise Consumer Q4-2024 FY-2024 Q4-2024 FY-2024 Q4-2024 FY-2024 Net Sales: Net Sales: Net Sales: Net Sales: Net Sales: Net Sales: +8% YoY* +10% YoY* +10% YoY* +12% YoY* -2% YoY* +1% YoY* Op. Margin: Op. Margin: 13%* 18%* 10.7K Vision One Customers ARPU: +2% Strong glo
Slide 4: Recurring Revenue
Recurring Revenue Large Enterprise $1.7B* Small Enterprise 7% +5% Consumer CAGR $385M $1.3B (1%) $237M $360M +1% $218M $1.1B +8% $706M Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 * Hybrid ARR at constant currency: 1USD= 147.74 yen. Non-GAAP and reference for internal manageme
Slide 5: Road to 2027
Road to 2027 2022 2023 (1) 2024 2027E (2) Net Sales Growth % 18% 11% 10% 8-10% COGS % of Revenue(3) 19% 22% 20% 18-20% S&M % of Revenue(3) 37% 37% 34% 28-30% R&D % of Revenue(3) 17% 17% 18% 13-15% G&A % of Revenue(3) 8% 8% 8% 5-7% Operating Margin % 14% 13% 18% 29-31% Operating Income ¥48B Notes: 1.
Slide 6: Proactive Security Starts Here.
Cyber Risk Exposure Management Enterprise Cybersecurity Platform Endpoint Cloud Network Email Identity AI Data Security Security Security Security Security Security Security Proactive Security Starts Here. 6 | ©2025 Trend Micro Inc.
Slide 7: Recognized Enterprise Leader
Recognized Enterprise Leader The Customer Choice Leader in Email Security (Q4 2024) The Partner Choice 7 | ©2025 Trend Micro Inc.
Slide 8: Q4-2024 Regional Enterprise Performance
Q4-2024 Regional Enterprise Performance Pre-GAAP Q4-2023 Q4-2024 +19%* +24%* +37%* Global Enterprise Growth +18%* +24% YoY* Japan Americas Europe AMEA 8 | ©2025 Trend Micro Inc. * Pre-GAAP in millions of Japanese Yen if currency exchange rates used for 4Q2023 were used for 4Q2024
Slide 9: Enterprise Recurring Revenue
Enterprise Recurring Revenue $1.3B* Large Enterprise 9% +7% Small Enterprise CAGR $237M +1% $924M $218M $1.1B +8% $706M Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 * Hybrid Enterprise ARR at constant currency: 1USD= 147.74 yen. Non-GAAP and reference for internal management 9
Slide 10: Growing Small Enterprise
Growing Small Enterprise MSPs Selling XDR NEW: Vision One for MSPs In First Quarter 1.3K 85+ Strategic MSPs 2X ASP Selling Per Customer 481 “Trend’s The integration of Vision One ASRM into MSP offering has revolutionized our threat detection and mitigation capabilities. ” Merkl IT , Germany 2021 202
Slide 11: Our Large Enterprise Opportunity
Our Large Enterprise Opportunity 27.3K LARGE ENTERPRISE CUSTOMERS AI-Powered Hybrid Endpoint Email & Network Next Gen SOC Multi-Cloud (EPP) Collaboration 24% of Enterprise ARR* 32% of Enterprise ARR* 21% of Enterprise ARR* 9% of Enterprise ARR* 14% of Enterprise ARR* ASRM WORKLOAD ENDPOINT EMAIL IPS
Slide 12: Proactive Security is Top of Mind
Proactive Security is Top of Mind Enterprise Security Operations Top Priorities (next 12 months)* EDR 41% SIEM 38% Threat Intel 32% NDR 31% Incident Response 31% XDR 29% EPP 28% ITDR 25% Gen-AI Security 25% SOAR 24% CDR 24% MDR 24% Threat Hunting 22% UEBA 18% ASM 16% Security Data Lake 11% 12 | ©202
Slide 13: Massive Enterprise Opportunity
Massive Enterprise Opportunity $8.6B $7.3B Total Enterprise ARR Customer Opportunity** Incremental ARR Opportunity From Existing Trend Customers $1.3B Q4, 2024 ARR* * Constant currency: 1USD= 147.74 yen. Non-GAAP and reference for internal management 13 | ©2025 Trend Micro Inc. ** Total enterprise A
Slide 14: Large Enterprise Recurring Revenue
Large Enterprise Recurring Revenue $1.1B * +8% YoY Vision One Connected ARR Other Hybrid ARR 11% CAGR (11%) $706M Shift +37% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 14 | ©2025 Trend Micro Inc. * Hybrid ARR at constant currency: 1USD= 147.74 yen. Non-GAAP and reference for
Slide 15: Large Enterprise Platform Attach
Large Enterprise Platform Attach 10.7K Vision One Customers 2024 Platform Highlights Vision One Attach Rate 39.3% 1.2K+ New Vision One customers in 2024 $260 Next-gen AI SOC ARR @ +21% Million* 783 2X ASP 112% Next-gen AI SOC Subscription NRR increase once attached 2020 2021 2022 2023 2024 15 | ©202
Slide 16: The Power of the Platform
The Power of the Platform ENTERPRISE MODULE ADOPTION RETENTION ARR CUSTOMERS RATE IMPACT 45% 83% 1X 15% 93% 2X 10% 90% 3X 30% + 94% 10X 16 | ©2025 Trend Micro Inc. * Constant currency: 1USD= 147.74 yen. Non-GAAP and reference for internal management.
Slide 17: Module Growth with Vision One
Module Growth with Vision One 4.8 Avg modules/ customer 4+ Modules Platform Expansion 3 Modules 2 Modules 1 Module 4.8 Modules/customer with Vision One 3.1 Avg modules/ customer 4X* ARR when on Vision One 74% Enterprise ARR from 4+ modules Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024 1
Slide 18: Cyber Risk Exposure Management Module
Cyber Risk Exposure Management Module 3600+ Platform Expansion Modules/customer with 6.5 Cyber Risk Exposure Management Platform Customers on 34% Cyber Risk Exposure Management GA Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 18 | ©2025 Trend Micro Inc.
Slide 19: Q4-2024 Enterprise Platform Wins
Q4-2024 Enterprise Platform Wins $900K $440K $1.8M $141K • Break data silos and • Security skills gap & too • Address company risk, help • Breach caused by lack of consolidate security tools many tools; modernization overwhelmed security visibility; lack of security including SIEM replacement projec
Slide 20: Consumer Performance
Consumer Performance Consumer Regional Performance Pre-GAAP Excluding Digital River Impact*** Highlights Q4-2023 Q4-2024 Global Consumer 13,811 Q4-24 net sales @ (2%) YoY Growth Million Yen* -2% -1% YoY*** 55,430 FY24 net sales @ +1% YoY Million Yen* +2% $34.70** ARPU as of Q4-24 @ +2% YoY Japan Res
Slide 21: Consumer: Beyond Device Protection
Consumer: Beyond Device Protection $89M* +49% YoY • New ScamCheck app bolstering next-gen offering growth • Seeing initial uplift on ARPU at +13% with further expected increase on renewal 2021 2022 2023 2024 21 | ©2025 Trend Micro Inc. * Gross sales in constant currency: 1USD= 147.74 yen. Non-GAAP a
Slide 22: Driving to 2027
Driving to 2027 $1.7B Enterprise ARR* $400M Consumer ARR* 30% Margin 22 | ©2025 Trend Micro Inc. * At internal company plan rates
Slide 23: Q4 & Full Year 2024 Business Update
Q4 & Full Year 2024 Business Update Kevin Simzer Chief Operating Officer