Business
Gen Digital : Annual Report for Fiscal Year Ending April 3, 2026 (Form 10-K)
Gen Digital : Annual Report for Fiscal Year Ending April 3, 2026 (Form
About this update from Gen Digital Inc.
Management's Discussion and Analysis of Financial Condition and Results of Operations Please read the following discussion and analysis of our financial condition and results of operations together with our Consolidated Financial Statements and related Notes thereto included under Item 15 of this Annual Report on Form 10-K. OVERVIEW Gen Digital Inc. is a global leader in consumer Cyber Safety and Trust-Based Solutions, empowering people around the world to live safer digital lives while building confidence and control over their financial futures. Through its trusted brands, including Norton, Avast, LifeLock and MoneyLion, Gen offers cybersecurity, online privacy, identity protection and financial wellness solutions to consumers worldwide. Our Cyber Safety Platform includes our security, comprehensive suites, and privacy products, which deliver technology solutions and superior threat protection to help people navigate the digital world securely, privately and with confidence. Our Trust-Based Solutions includes our identity protection, restoration support services, digital reputation, and secure financial wellness, including our first-party MoneyLion products and our Engine marketplace offerings. Fiscal calendar We have a 52/53-week fiscal year ending on the Friday closest to March 31. Fiscal 2026, 2025 and 2024 in this report refers to fiscal years ended April 3, 2026, March 28, 2025 and March 29, 2024, respectively. Fiscal 2026 consisted of 53 weeks, whereas fiscal years 2025 and 2024 each consisted of 52 weeks. Financial summary The following table provides our key financial metrics for fiscal 2026 compared with fiscal 2025:Fiscal Year (In millions, except for per share amounts) 2026 2025 Net revenues $ 5,000 $ 3,935 Operating income (loss) $ 2,120 $ 1,610 Net income (loss) $ 973 $ 643 Net income (loss) per share - diluted $ 1.57 $ 1.03 Net cash provided by (used in) operating activities $ 1,545 $ 1,221 As of (In millions) April 3, 2026 March 28, 2025 Cash, cash equivalents and restricted cash $ 411 $ 1,006 •Net revenues increased $1,065 million, primarily due to higher sales in both our Cyber Safety Platform products and Trust-Based Solutions, including an increase of $823 million due to the acquisition of MoneyLion, and an increase of $87 million due to the favorable impact from the additional week in the first quarter of fiscal 2026. •Operating inco...