The following is a summary of the Gen Digital Inc. (GEN) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Gen Digital reported overall revenue of $3.8 billion in FY 2024, a growth of 14%.

• Operating income was up by 5% YoY for Q4 at $569 million while Q4 net income saw a growth of 14% YoY, standing at $336 million.

• The company has effectively reduced its total operating expense to 27.5% of revenue.

• Both ARPU for online customers and direct consumer revenue have seen an increase.

• The company is generating strong cash flow nearing $2 billion and aims to reduce its net leverage below three times EBITDA by 2025.

Business Progress:

• The Cyber Safety membership adoption grew to include 40% of customers & their new product, Norton Genie, crossed one million downloads within 100 days of launch.

• The customer base saw a significant increase, to $39.1 million, with over 900,000 new customers added across the fiscal year.

• Gen Digital successfully integrated Avast into its operations, boosting its direct customer base growth and overall retention rate.

• They plan to continue investing heavily in AI as a keystone of future growth.

• Aiming to accelerate growth to mid-single digits in FY 2025, the company will invest more in organic growth initiatives and try to enhance new customer acquisition.

More details: Gen Digital IR

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