Slide 1: Trend Micro FY2026 Q2 Results
Trend Micro FY2026 Q2 Results Mahendra Negi CFO, Representative Director August 13, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements Certain Statements that we make in this presentation are forward-looking statements. These forward-looking statements are based upon management’s current assumptions and beliefs in light of the information currently available to it, but involve known and unknown risks and
Slide 3: FY2026.Q2 Financial Highlight
FY2026.Q2 Financial Highlight (Second quarter ended Jun 30, 2026)
Slide 4: Q2 Consolidated Results
Q2 Consolidated Results (unaudited) (in million Yen) Three months YoY ended Jun 30, 2Q2025 2Q2026 growth Net sales 66,407 74,739 + 13% Total Operating expenses 52,941 68,505 + 29% Operating income (Margin) 13,465 (20%) 6,233 (8%) - 54% Ordinary income 9,066 7,172 - 21% Net income 5,478 3,455 - 37% a
Slide 5: Progress (6 months)
Progress （6 months） (in million Yen) Revenue Operating Income 350,000 60,000 57,777 (Forecast) 301,500 56,400 300,000 50,000 (Forecast) 250,000 275,984 44,474 40,000 200,000 (Progress of 202,753 (Progress of Forecast: 49%) 30,000 FY2025Act: 49%) 28,472 150,000 148,596 133,909 (Progress of 21,792 FY2
Slide 6: TrendAI ARR (Non-GAAP)
(USD) TrendAI ARR (Non-GAAP) *ARR at constant currency: (1USD= 155.95yen as the company internal budget exchange rate for FY2026). The amounts are updated annually each fiscal year. Non-GAAP and reference for internal management. Therefore, they may be subject to so changes hereafter. 6
Slide 7: TrendAI ARR by Region (Non-GAAP)
TrendAI ARR by Region (Non-GAAP) 25Q2 26Q1 26Q2 QoQ YoY Japan $242M $249M $248M -1% +3% Americas $291M $290M $288M -1% -1％ Europe $377M $397M $404M +2% +7％ AMEA $371M $399M $414M +4% +12％ Total $1,281M $1,335M $1,354M +1％ +6% *ARR at constant currency: (1USD= 155.95yen as the company internal budget
Slide 8: Cash flows
Cash flows (unaudited) (in million Yen) 2Q2025 2Q2026 YoY growth Cash flows from operating activities 16,267 5,958 - 63% Cash flows from investing activities 6,708 - 9,035 － Cash flows from financing activities 2,356 28 - 99% Effect of exchange rate changes 1,101 2,111 + 92% on cash and cash equival
Slide 9: Headcount
Headcount Mar - 2026 Jun - 2026 6,760 6,711 Admin, Business Admin, Business Process, Process, 764 745 Sales, Marketing, Sales, Marketing, Technical 2,309 Technical 2,345 Support, Support, 1,553 1,536 Research, Research, Development, Development, 2,134 - 49 2,085 (- 1%) Japan, Japan, 719 704 Europe,
Slide 10: Cost (Non-GAAP)
(in million Yen) Cost (Non-GAAP) (unaudited) ・Of 15.5 bn JPY YoY increase, estimated impact of yen depreciation, about +4.6 bn JPY. 70,000 Goods / Software Salary & Benefit Office Overhead Amortization & Capitalization Outside Service Cloud 4,293 Administration Selling & Marketing Stock options / Ac
Slide 11: Q2 Highlights
Q2 Highlights • Highest-ever Quarterly Net Sales • ARR growth continues to improve 11
Slide 12: FY2026 Guidance
FY2026 Guidance
Slide 13: Revision of full year forecast - Assumptions
Revision of full year forecast - Assumptions ・ Net Sales track as expected with no changes. ・ Cloud-related investment, including AI token costs aimed at expanding product and service functionality, are expected to increase significantly from initial projections. ・ Non-operating income/expenses and
Slide 14: Projection for FY2026 Annual (Revised on Aug. 13th)
Projection for FY2026 Annual (Revised on Aug. 13th) For FY2026 Expected (in million Yen) Jan - Dec, 2026 YoY growth Net Sales 301,500 + 9% (Unchanged) (Unchanged) Operating Income “Margin” 44,400 “15%” - 23% (before: 56,400 “19%”, -12,000) (before: - 2%) Ordinary Income 46,000 - 15% (before: 55,100,
Slide 15: Appendix for FY2026.Q2
Appendix for FY2026.Q2
Slide 16: Q2 USD based Results (Non-GAAP)
Q2 USD based Results (Non-GAAP) (unaudited) (in thousand USD) Three months ended Jun 30, 2Q2025 2Q2026 YoY change Net sales 459,215 468,675 + 2% Cost of sales 107,324 108,222 + 1% Operating expenses 258,771 321,362 + 24% Operating income 93,118 39,090 - 58% Ordinary income 62,694 44,977 - 28% Net In
Slide 17: Net Sales Growth by Region
(in million Yen) Net Sales Growth by Region + 1% 2025Q2 25,000 + 25% 21,822 22,048 2026Q2 21,255 20,000 + 14% + 13% 16,874 16,961 14,561 14,771 15,000 12,852 10,000 5,000 0 Japan Americas Europe APAC, MEA
Slide 18: Net Sales Growth by Region
Net Sales Growth by Region (unaudited) (in million Yen) If currency exchange rates used for 2Q2025 were used for 2Q2026: 2025Q2 25,000 + 1% * ( ) : difference from GAAP base 2026Q2 + 10% 21,822 22,048 (0) (- 2,582) 20,000 + 0% + 1% 18,672 (- 1,704) (- 1,962) 16,961 15,000 14,771 14,912 12,852 12,857
Slide 19: Decomposition of Revenue (vs. last year)
Decomposition of Revenue (vs. last year） (in million Yen) (unaudited) Exchange impact 6,249 2026Ｑ2 Europe Americas Net Japan APAC, MEA sales 226 140 4 1,711 74,739 2025Ｑ2 Net sales 66,407 (Non-GAAP)
Slide 20: Constant currency Revenue growth
Constant currency Revenue growth (YoY) (unaudited) 10% 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% 2019Q1 2019Q2 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 (Non-
Slide 21: Net sales by Segment (1)
(in million Yen) Net sales by Segment (1) (unaudited) + 13% 2025Q2 70,000 (+ 2%) * ( ) Constant currency basis 2026Q2 60,056 60,000 52,981 50,000 40,000 + 9% 30,000 (+ 6%) 20,000 14,636 13,420 + 781% (+ 778%) 10,000 5 46 0 TrendAI TrendLife Incubation (Non-GAAP) “Notice” 1.As Sales by Segment number
Slide 22: Net sales by Segment (2)
(in million Yen) Net sales by Segment (2) (unaudited) YoY Growth * ( ) Constant currency basis 25,000 Incubation + 781% (+ 778%) - 42% + 1869% TrendLife + 9% (+ 6%) 45 1 (- 47%) (+ 1869%) TrendAI + 13% (+ 2%) 20,000 1,534 + 68% (+ 40%) + 29% 11,280 + 2% 160 (+ 14%) 15,000 (+ 2%) 1,661 + 28% (+ 16%)
Slide 23: % share by region
% share by region 2Q2025 2Q2026 66,407 million Yen 74,739 million Yen APAC,MEA APAC,MEA 26% Japan Japan 28% 33% 30% Europe Europe Americas 22% Americas 23% 19% 19%
Slide 24: Deferred Revenue
(in million Yen) Deferred Revenue 250,000 236,085 236,933 232,485 230,000 217,014 218,013 221,386 214,473 212,447 210,643 210,000 200,337 190,000 170,000 150,000 0 130,000 0 Mar-'24 Jun-'24 Sep-'24 Dec-'24 Mar-'25 Jun-'25 Sep-'25 Dec-'25 Mar-'26 Jun-'26
Slide 25: Deferred Revenue by Region
Deferred Revenue by Region (in million Yen) (unaudited) 2026Q1 - 1% 2026Q2 90,000 - 1% 81,164 80,247 80,000 - 2% 70,000 65,400 65,072 60,000 57,084 56,173 - 7% 50,000 40,000 33,283 30,991 30,000 20,000 10,000 0 Japan Americas Europe APAC, MEA (Non-GAAP)
Slide 26: Deferred Revenue by Region
Deferred Revenue by Region (unaudited) If currency exchange rates used as of the end of 1Q2026 were used as of the end of 2Q2026: (in million Yen) 2026Q1 - 3% * ( ) : difference from GAAP base (- 1,339) 90,000 2026Q2 - 1% 81,164 78,908 80,000 (0) - 3% (- 605) 70,000 65,400 65,072 60,000 - 9% 57,084
Slide 27: Non-operating & Extra-ordinary Items
Non-operating & Extra-ordinary Items (in million Yen) (unaudited) Other incomes Gain on reversal Other expenses of stock options Interest income 71 13 27 Income 880 before Ordinary Income income taxes 7,172 7,199 Operating Income 6,233
Slide 28: Balance Sheet
Balance Sheet (unaudited) (in million Yen) Mar-2026 change Jun-2026 Assets Cash & cash equivalents 215,341 + 4,561 219,902 Account receivable + 207 56,140 (less allowance for doubtful accounts) 55,933 Marketable securities & Securities investments 18,245 - 1,693 16,552 Software 17,795 - 116 17,679 L
Slide 29: Shrinking "holding Cash"
Shrinking “holding Cash” The holding "Cash," after deducting Deferred revenue (which is the consideration for future service obligations), has currently shrunk to a net-zero level. (Million Yen) 313,147 315,935 282,888 248,190 235,757 233,586 236,454 219,317 222,168 215,415 202,220 183,252 128,790 1
Slide 30: FY2026 6months Financial Highlight
FY2026 6months Financial Highlight (January ~ June, 2026)
Slide 31: Consolidated Results (6 months)
Consolidated Results (6 months) (in million Yen) (Progress vs. last (Progress vs. 6 months year’s annual YoY current year’s ended Jun 30, 2025（1-2Q） result) 2026（1-2Q） growth annual forecast) Net sales 133,909 (49%) 148,596 + 11% (49%) Total Operating expenses 105,436 126,803 + 20% Operating income
Slide 32: Net Sales Growth by Region
Net Sales Growth by Region (unaudited) (in million Yen) + 1% 2025Q1-Q2 50,000 43,894 44,184 2026Q1-Q2 + 22% 45,000 41,486 40,000 + 17% + 8% 33,865 35,000 33,954 29,059 29,032 30,000 27,026 25,000 20,000 15,000 10,000 5,000 0 Japan Americas Europe APAC, MEA 32
Slide 33: Net Sales Growth by Region
Net Sales Growth by Region (in million Yen) If currency exchange rates used for 2025（Q1-Q2） were used for 2026（Q1-Q2）: (unaudited) 2025Q1-Q2 50,000 + 1% 2026Q1-Q2 43,894 44,184 (0) * ( ) : difference from GAAP base + 10% 45,000 (- 4,078) 40,000 - 1% + 3% 37,408 (- 4,096) 35,000 (- 2,401) 33,954 29,7
Slide 34: FY2026 Cost (6 months) YoY Growth
(in million Yen) FY2026 Cost (6 months) YoY Growth (unaudited) 130,000 Goods / Software Amortization & Capitalization 6,692 Salary & Benefit + 18% Stock options / 120,000 Acquisition Related 2,991 Costs Office Overhead + 6% 110,000 Selling & Marketing 13,041 6,967 100,000 Administration 8,639 + 8% O
Slide 35: Thank You
Thank You Copyright © 2026 Trend Micro Incorporated. All rights reserved.
Slide 36: Quarterly Chart (1)
Appendix (unaudited) Quarterly Chart (1) (in million Yen) FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 N e t S ale s 67,501 66,407 68,844 73,230 73,856 74,739 CO GS 16,417 15,520 15,447 16,331 16,691 17,258 S G& A 36,077 37,420 37,395 43,595 41,606 51,247 O pe r at in g I n c o m e 15,006 13,465 16,001 13,
Slide 37: Quarterly Chart (2)
Appendix (unaudited) Quarterly Chart (2) (in million Yen) FY2025 FY2026 （ Ne t S ale s by Re g io n & by S e g m e n t） Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Japan (TrendAI) 10,896 10,733 10,693 10,795 10,805 10,722 Japan (TrendLife) 11,045 11,086 11,099 11,273 11,229 11,280 Japan (Incubation) 130 2 24 60 100 45