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Isabella.Reed


Gen Digital's AI Cybersecurity Innovations Drive Record Revenue Growth

2024-05-15

#ComputerSoftwarePrepackagedSoftware #GEN #earning_call #Isabella.Reed

In Gen's Fourth Quarter and Fiscal Year 2024 Earnings Call, key participants, including Jason Starr, Vincent Pilette, and Natalie Derse, discussed various aspects of the company's performance and future strategies. The call highlighted the company's strong operating results in Fiscal Year 2024, with record revenue, profitability, and cash flow. Gen's focus on consumer cybersafety was emphasized, citing the increasing risks in digital life and the sophistication of cyber threats.

The call also addressed cautionary information regarding forward-looking statements and the company's non-GAAP financial metrics. Gen differentiated itself in the cybersafety market by offering comprehensive protection, leveraging AI capabilities, and providing tailored membership offerings to customers.

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Norton Genie, an AI-driven anti-scam app, was introduced, crossing 1 million downloads in just 100 days with high customer satisfaction. Total Radius, a ReputationDefender tool, was fully launched in January 2024 to protect users' digital reputation. Gen's aim to simplify digital life for consumers was evident through its innovative products and services.

The company's financial results for Fiscal Year 2024, as outlined by Natalie Derse, showcased strong revenue growth and cost synergies post the Avast acquisition. Gen's strategies for customer acquisition, retention, and revenue growth were discussed, emphasizing the importance of cross-selling, upselling, and diversifying acquisition channels.

Looking ahead to Fiscal Year 2025, Gen aimed to achieve EPS growth, reduce net leverage, and drive revenue growth through cybersafety bookings. The company's commitment to innovation, technology, and customer-centric strategies would continue to drive its success in the consumer cybersafety market.

Overall, Gen's Fourth Quarter and Fiscal Year 2024 Earnings Call provided insights into the company's achievements, strategies, and future outlook in the dynamic landscape of consumer cybersafety.