Slide 1: Q4 FY25 Earnings
Gen Q4FY25 Earnings May 6, 2025
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: FY25 Record Revenue and Profit
e Direct Customer Ys FY25 Record Revenue count ores and Profit 40M+ 65M+ Sixth Consecutive Year of Growth +1.3M” Nearly @) 20,000 attacks blocked every minute in FY25 Over 80% ! Revenue Non-GAAP EPS $3.9B $2.22 Positive Customer Reviews i) 9, i +4 % (co) +15% (cc) Se Trustpilot RR KKK of cyberthreat
Slide 6: FY25 Snapshot
FY25 Snapshot Core Cyber Safety Metrics Revenue $3.935B, +4% Y/Y Op Margin 58%, +30 bps EPS $2.22, +15% CC $4.0B 65M+ 40M+ Total Bookings Total Paid Direct Customers +4% Y/Y (CC) Customers +1.3M net Y/Y 78% Direct Retention $7.26 Direct Monthly ARPU 3.2x Net Leverage +250 bps since Avast acquisition
Slide 7: Gen's industry leadership
Gen's industry leadership Industry 160+ Third-Party Security Accolades Recognitions in FY25 2025 Winner of the 2025 Cybersecurity Excellence Award 93 AV-Test Awards 8 AVLab Awards for Avast Multi-Year Recognition including Product of the Year 2025 - across Norton, Avast, Avira & AVG Member of the Do
Slide 8: Scam Protection available in Norton360
Scam Protection available in Norton360 Market reports double-digit Genie Scam Protection o AI powered scam assistant growth in scams YoY o Safe Web and SMS: avoid scam sites and texts o Nearly 3.4B scam emails sent daily and 1.6B scam texts received each day o Private Browser: browse with advanced p
Slide 9: MoneyLion strategically accelerates Gen's 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: Evolution of the business
Evolution of the business CYBER SAFETY TRUST-BASED PLATFORM SOLUTIONS Deliver technology solutions and Provide innovative solutions and superior threat protection to insights that empower consumers help people navigate the digital Powering Digital to manage their identity, world, securely, privately
Slide 11: Operating in two segments that bring our vision to life
Operating in two segments that bring our vision to life Trust-based solutions in a digitally safe world Trust- based solutions Credit Alerts, Personal Identity & Reputation Banking Lifecycle Protection & Financial Marketplace Financial Management Services management Restoration Management Wellness C
Slide 12: Gen Portfolio by Segment
Gen Portfolio by Segment CYBER SAFETY PLATFORM TRUST-BASED SOLUTIONS Security Privacy Identity Financial Wellness Secure my family Safeguard my Protect my identity Manage and grow against cyber threats personal data and finances my finances Earned Wage Premium Security VPN LifeLock Access (EWA) Pers
Slide 13: Leader in consumer Cyber Safety & Financial Wellness
: Leader in consumer Cyber Safety & Financial Wellness Tech Powerhouse Global Reach Business Segments 14B+ 10PB ~500M 85M+ Cyber Safety Platform: Security & Privacy Attacks blocked Threat Data used Users Customers Secure against cyber threats to train AI models Safeguard personal data 2,000 4B+ ~$4.
Slide 14: FY25 Q4 Results
FY25 Q4 Results Copyright © 2025 Gen Digital Inc. All rights reserved. 14
Slide 15: Q4 Non-GAAP Financial Highlights
Q4 Non-GAAP Financial Highlights • Building momentum exiting FY25: Bookings and Revenue up 5% in constant currency • Operating margin of 58.4% reflects strong core margins and disciplined growth investments • 6th quarter of double-digit EPS growth, up 13% (CC), driven by focused execution and balanc
Slide 16: Solid Execution in Q4 & FY25
Solid Execution in Q4 & FY25 Non-GAAP P&L Q4 Y/Y % Y/Y % ($mil), except per share amounts FY25 USD FY25 USD • Record Q4 Revenue of $1,010M, up 5% in USD and CC Revenue $1,010 5% $3,935 4% • Broad-based growth across product portfolio, with Y/Y % (CC) 5% -- 4% -- stronger growth in higher value US ma
Slide 17: Gen Performance Metrics
Gen Performance Metrics REVENUE ($mil) CYBER SAFETY METRICS Q4 Q3 Q4 Y/Y % Y/Y % Q4 Q3 Q4 Y/Y FY24 FY25 FY25 USD CC FY24 FY25 FY25 Direct (1) (2) $844 4% 4% Direct Customers 39.1M 40.1M 40.4M 1.3M $869 $877 (Q/Q change) +232K +371K +322K + Partners $105 $105 $121 15% 15% Direct Monthly ARPU (4) $7.2
Slide 18: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Key Balance Sheet, Cash Flow, Q4 Q3 Q4 ● Liquidity of $2.5B & Other Metrics ($mil) FY24 FY25 FY25 ● $1B cash + $1.5B revolver undrawn Balance Sheet Cash and Cash Equivalents $846 $883 $1,006 ● Debt / EBITDA (3) Net Leverage of 3.2x Contract Liabilities (1) $1,884 $1,849 $1,
Slide 19: Q1 & FY26 Non-GAAP Annual Guidance
Q1 & FY26 NON-GAAP ANNUAL GUIDANCE FY26 Q1 FY26 Key Assumptions: • High-single digit pro-forma $4.70 - $4.80B $1.18 - $1.21B growth • Fiscal year 2026 includes an Revenue Revenue extra week in Q1, offset by 6-8% Y/Y (Pro-Forma) 5-7% Y/Y (Pro-Forma) MoneyLion pre-acquisition stub revenue and business
Slide 20: Supplemental Information
Supplemental Information Copyright © 2025 Gen Digital Inc. All rights reserved. 20
Slide 21: MoneyLion Financial Profile
Financial THE FIRST CONSUMER FINANCE DIGITAL ECOSYSTEM Profile & THE ULTIMATE FINANCIAL MARKETPLACE CY2024 Personal Financial Management (PFM) Marketplace Products & Offers Revenue & Growth AI Powered PFM Money / Adjacent Loan s Insurance $546M Insights Con tent and Comm unity Personal, Student, Aut
Slide 22: Transaction overview
Transaction overview Transaction structure Financial impact $82 / share (Cash) ● Cash payment of ~$1B ● Estimated purchase price at 9-11x NTM EBITDA(1) before synergies + ● Accretive to Non-GAAP EPS $23 / share (CVR) ● Reinforces Gen’s long-term financial model ● Gen re-affirms commitment of net lev
Slide 23: Capital Structure
Facility Principal ($mil) Maturity Coupon Capital Structure Revolver (RCF): undrawn Term Loan A (TLA) $1,500 $3,470 2027 2027 If drawn: SOFR+CSA+1.5% SOFR+CSA+1.5% Debt Maturities in $mil (Initial Principal Amounts) As of April 17, 2025 Term Loan B (TLB) $2,377 2029 SOFR+1.75% Term Loan B (TLB) $750
Slide 24: Trended Non-GAAP Quarterly Results
Trended Non-GAAP Quarterly Results Non-GAAP P&L Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 ($M), except per share amounts Direct Customer Revenues 829 834 834 844 3,341 850 860 869 877 3,456 Partner Revenues 97 95 99 105 396 101 102 105 121 429 TOTAL CYBER SAFETY REVEN
Slide 25: 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 Q4 FY25 FY25 ($M) GAAP Results of Operation Gross profit (GAAP) $764 $765 $766 $774 $3,069 $775 $780 $793 $811 $3,159 Non-GAAP Gross Profit Adjustments Cost of revenues
Slide 26: Reconciliation to Non-GAAP Operating Income
Reconciliation to Non-GAAP Operating Income Q1 GAAP to Non-GAAP Operating Income ($M) Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 FY24 GAAP Results of Operation Operating income (GAAP) $359 $22 $332 $397 $1,110 $417 $402 $374 $417 $1,610 Total Non-GAAP gross profit 58 59 58 58
Slide 27: Reconciliation to Non-GAAP Net Income
Reconciliation to Non-GAAP Net Income GAAP to Non-GAAP Net Income ($M) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 GAAP Results of Operation Net income (GAAP) $187 $147 $142 $131 $607 $181 $161 $159 $142 $643 Total Non-GAAP gross profit adjustment 58 59 58 58 233 58 59
Slide 28: Reconciliation to Non-GAAP EPS and Net Income
Reconciliation to Non-GAAP EPS and Net Income GAAP to Non-GAAP EPS and Net Income (1) Q4 FY25 ($M), except per share amounts EPS Net Income GAAP EPS / Net Income $0.23 $142 • Stock based compensation 0.06 37 • Amortization of intangible assets 0.16 100 • Impairment of intangible assets 0.00 3 • Rest
Slide 29: Reconciliation to Non-GAAP (Unlevered) Free Cash Flow
Reconciliation to Non-GAAP (Unlevered) Free Cash Flow Unlevered Free Cash Flow Reconciliation ($M) FY25 Net Cash Flow from Operating Activities $1,221 Adjustments: • Capital Expenditures (15) Free Cash Flow $1,206 Adjustments: • Cash paid for interest expense, net of interest rate hedges $544 Unleve
Slide 30: Trended GAAP Revenue by Geo
Trended GAAP Revenue by Geo Revenue by Geo ($M) Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 US 558 563 564 580 2,265 579 584 589 606 2,358 Rest of Americas 56 55 55 53 219 57 57 58 57 229 Americas 614 618 619 633 2,484 636 641 647 663 2,587 EMEA 226 227 230 234 917 233
Slide 31: 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 Q4 FY25 FY25 Net income $187 $147 $142 $131 $607 $181 $161 $159 $142 $643 Adjustments: • Net interest expense 164 167 160 153 644 145 143 135 127 550 • Income tax expense (bene
Slide 32: Trended Share Count
Trended Share Count Diluted Share Count Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY25 Shares in millions Basic Share Count Weighted 640 640 639 630 637 621 616 616 616 617 Average Dilutive Potentially Issuable Shares: From Employee Equity Awards 3 4 6 7 5 6 6 7 8 7 Dilute
Slide 33: Debt Covenant EBITDA (Non-GAAP)
Debt Covenant EBITDA (Non-GAAP) Debt Covenant EBITDA (Non-GAAP) (1) ($M) LTM (3) Net income $643 Adjustments: • Net interest expense 550 • Income tax expense (benefit) 386 • Depreciation and amortization 419 EBITDA (Non-GAAP) $1,998 Adjustments to EBITDA: • Stock-based compensation 134 • Restructuri
Slide 34: 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 35: 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 36: Thank you
Thank you Web: Investor.GenDigital.com Email: IR@GenDigital.com GenDigital.com Copyright © 2025 Gen Digital Inc. All rights reserved. 36