Slide 1: Q3 FY25 Earnings
Q3 FY25 Earnings January 30, 2025 Copyright © 2025 Gen Digital Inc. All rights reserved.
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation 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 expre
Slide 3: Purpose and Mission: Powering Digital Freedom
Purpose Powering Digital Freedom Mission We create innovative and easy-to-use technology solutions that help people grow, manage, and secure their digital and financial lives. Copyright © 2025 Gen Digital Inc. All rights reserved. 3
Slide 4: Business & Portfolio Highlights
Business & Portfolio Highlights Copyright © 2025 Gen Digital Inc. All rights reserved. 4
Slide 5: Q3 Threat Landscape Key Trends
Q3 Threat Landscape Key Trends: Growing trend of scams & financial fraud ~15B “Scam-Yourself Attacks” increasingly pervasive, tricking users into compromising their own devices Blocked attacks globally in CY2024 with malware Shift towards privacy & data control 90% Users want to protect digital life
Slide 6: Leadership in Scam Protection
Leadership in Scam Protection Download today: https://Genie.AI Norton + AI: • Scam Detection at your fingertips • Simply take a screenshot of your text or email and share it with Genie • Proprietary AI that delivers results in seconds • Powered by Norton - Advice you can trust Coming soon to 360 2M
Slide 7: Geographic expansion efforts with Secure Identity
Geographic expansion Secure Identity ID Advisor Plus efforts with now available in 15 new countries Japan Identity and Privacy Identity Monitoring Expanded Offerings Financial activity ID Vault – new! Dark web Scam verification specialists Social media accounts Privacy advisors Restoration Support I
Slide 8: NextGen Cyber Safety on Gen Stack
NextGen Cyber Safety on Gen Stack Trusted Always On Personalized Empowering Gen is enabling people to make the most of the digital world — safely, privately and confidently Copyright © 2025 Gen Digital Inc. All rights reserved. 8
Slide 9: MoneyLion acquisition accelerates presence in financial wellness
Expands into full lifecycle of credit and financial wellness offerings for consumers Brings an AI recommendation engine, enhanced by Gen’s strategically user base, that powers a scaled financial marketplace platform accelerates Gen’s presence in financial Diversifies Gen’s customer base with consume
Slide 10: Gen's expanding consumer portfolio
Gen's expanding consumer portfolio Secure my family Safeguard my Protect my identity Manage and grow my against cyber threats personal data and finances finances Anti-Virus VPN Monitoring & Alerts Credit Builder Backup Anti-Track Fraud Prevention Financial Mgmt. Parental Control Private Browser ID R
Slide 11: Industry Leader Accolades and Third-Party Recognitions
Industry Leader Industry Third-Party Accolades Recognitions 13 Awards across Top Product Awards, Time’s World’s Best Certified Android Antivirus and Brands US 2024 Certified Mac OS Antivirus Awarded to Norton & Avast Avast, AVG, Avira, Norton | AV-Test 12 Awards across Performance Test, Advanced Thr
Slide 12: FY25 Q3 Results
FY25 Q3 Results Copyright © 2025 Gen Digital Inc. All rights reserved. 12
Slide 13: Q3 Non-GAAP Business Highlights
Q3 Non-GAAP Business Highlights • 22nd consecutive quarter of growth: Cyber Safety Bookings up 4% in constant currency, Revenue up 4% • Operating margin of 58.5% reflects strong core margins and disciplined growth investments • 5th quarter of double-digit EPS growth, up 15%, driven by focused execut
Slide 14: Solid Execution: Non-GAAP P&L
Solid Execution Non-GAAP P&L Q3 Q2 Q3 Y/Y % FY24 (1) FY25 FY25 USD • Q3 Revenue of $986M, up 4% in USD and CC ($mil), except per share amounts Revenue $948 $974 $986 4% • Broad-based growth across product portfolio, with stronger growth in higher value US market Y/Y % (CC) 2% 3% 4% -- • Stable and h
Slide 15: Gen Performance Metrics
Gen Performance Metrics REVENUE ($mil) CYBER SAFETY METRICS Q3 Q2 Q3 Y/Y % Y/Y % Q3 Q2 Q3 Y/Y FY24 FY25 FY25 USD CC FY24 FY25 FY25 Direct (1) (2) 4% 4% Direct Customers 38.9M 39.7M 40.1M 1.2M $834 $860 $869 (Q/Q change) +330K +389K +371K + Partners $99 $102 $105 6% 6% Direct Monthly ARPU (4) $7.18 $
Slide 16: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Key Balance Sheet, Cash Flow, Q3 Q2 Q3 & Other Metrics ($mil) FY24 FY25 FY25 Balance Sheet ● Liquidity of $2.4B Cash and Cash Equivalents $490 $737 $883 ● $883M cash + $1.5B revolver undrawn Contract Liabilities (1) $1,819 $1,827 $1,849 ● Plan to re-finance 2025 Sr. Unsecur
Slide 17: Strengthening FY25 Non-GAAP Guidance
Strengthening FY25 Non-GAAP Guidance FY25 Key Assumptions Q4 FY25 (Growth in Constant Currency) REVENUE • Cyber Safety Bookings and Revenue $990M - $1,005M growth: ~4% EPS FY25 • EPS growth: 14-15% $0.57 - $0.59 REVENUE $3,915M - $3,930M • Stable currency and SOFR flat to down EPS Note: All numbers
Slide 18: Supplemental Information
Supplemental Information Copyright © 2025 Gen Digital Inc. All rights reserved. 18
Slide 19: Capital Structure
Capital Structure Facility Revolver (RCF): undrawn Principal ($mil) $1,500 Maturity Coupon 2027 If drawn: SOFR+CSA+1.5% Debt Maturities in $mil (Initial Principal Amounts) As of December 28, 2024 Term Loan A (TLA) $3,568 2027 SOFR+CSA+1.5% Term Loan B (TLB) $2,395 2029 SOFR+1.75% 2025 Sr. Unsecured
Slide 20: Trended Non-GAAP Quarterly Results
Trended Non-GAAP Quarterly Results Non-GAAP P&L Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 ($M), except per share amounts Direct Customer Revenues 829 834 834 844 3,341 850 860 869 Partner Revenues 97 95 99 105 396 101 102 105 TOTAL CYBER SAFETY REVENUE $926 $929 $933 $949 $3,737 $
Slide 21: Reconciliation to Non-GAAP Gross Profit
Reconciliation to Non-GAAP Gross Profit GAAP to Non-GAAP Gross Profit Q1 FY24 Q2 FY24 Q3 FY24 QQ4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 ($M) GAAP Results of Operation Gross profit (GAAP) $764 $765 $766 $774 $3,069 $775 $780 $793 Non-GAAP Gross Profit Adjustments Cost of revenues • Stock-based 1 1 1 1 4
Slide 22: Reconciliation to Non-GAAP Operating Income
Reconciliation to Non-GAAP Operating Income GAAP to Non-GAAP Operating Income Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 ($M) GAAP Results of Operation Operating income (GAAP) $359 $22 $332 $397 $1,110 $417 $402 $374 Total Non-GAAP gross profit 58 59 58 58 233 58 59 57 adjustment N
Slide 23: Reconciliation to Non-GAAP Net Income
Reconciliation to Non-GAAP Net Income GAAP to Non-GAAP Net Income ($M) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 GAAP Results of Operation Net income (GAAP) $187 $147 $142 $131 $607 $181 $161 $159 Total Non-GAAP gross profit adjustment 58 59 58 58 233 58 59 57 Total Non-GAAP opera
Slide 24: Reconciliation to Non-GAAP EPS and Net Income
Reconciliation to Non-GAAP EPS and Net Income GAAP to Non-GAAP EPS and Net Income (1) Q3 FY25 ($M), except per share amounts EPS Net Income GAAP EPS / Net Income $0.26 $159 • Stock based compensation 0.05 33 • Amortization of intangible assets 0.16 99 • Restructuring and other costs 0.00 2 • Acquisi
Slide 25: Reconciliation to Non-GAAP (Unlevered) Free Cash Flow
Reconciliation to Non-GAAP (Unlevered) Free Cash Flow Unlevered Free Cash Flow Reconciliation ($M) Q3 FY25 Net Cash Flow from Operating Activities $326 Adjustments: • Capital Expenditures (8) Free Cash Flow $318 Adjustments: • Cash paid for interest expense, net of interest rate hedges $177 Unlevere
Slide 26: Trended GAAP Revenue by Geo
Trended GAAP Revenue by Geo Revenue by Geo ($M) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 US 558 563 563 578 2,262 579 584 589 Rest of Americas 56 55 56 56 223 57 57 58 Americas 614 618 619 633 2,484 636 641 647 EMEA 226 227 230 233 916 233 233 240 APJ 103 100 99 98 400 96 100 99
Slide 27: Trended EBITDA (Non-GAAP)
Trended EBITDA (Non-GAAP) Reported EBITDA (Non-GAAP) (1) ($M) Q1 FY24 Q2 FY24 Q3 FY24 QQ4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Net income $187 $147 $142 $131 $607 $181 $161 $159 Adjustments: • Net interest expense 164 167 160 153 644 145 143 135 • Income tax expense (benefit) 14 (291) 36 81 (160) 95 97
Slide 28: Trended Share Count and Stock-Based Compensation
Trended Share Count Diluted Share Count Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Shares in millions Basic Share Count Weighted 640 640 639 630 637 621 616 616 Average Dilutive Potentially Issuable Shares: From Employee Equity Awards 3 4 6 7 5 6 6 7 Diluted Share Count (GAAP) 643
Slide 29: Debt Covenant EBITDA (Non-GAAP)
Debt Covenant EBITDA (Non-GAAP) Debt Covenant EBITDA (Non-GAAP) (1) ($M) LTM (3) Net income $632 Adjustments: • Net interest expense 576 • Income tax expense (benefit) 322 • Depreciation and amortization 427 EBITDA (Non-GAAP) $1,957 Adjustments to EBITDA: • Stock-based compensation 128 • Restructuri
Slide 30: Use of GAAP and Non-GAAP Financial Information
Use of GAAP and Non-GAAP Financial Information We use non-GAAP measures of operating margin, operating income, net income, results of operations, 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
Slide 31: Explanation of Non-GAAP Measures and Other Items
Explanation of Non-GAAP Measures and Other Items Bookings: Bookings are defined as customer orders received that are expected to generate net revenues in the future. We present the ope rational metric of bookings because it reflects customers' demand for our products and services and to assist reade
Slide 32: Thank you
Thank you Web: Investor.GenDigital.com Email: IR@GenDigital.com Copyright © 2025 Gen Digital Inc. All rights reserved. 32