Gen Digital Inc. is a global company that provides cyber safety solutions through a family of trusted brands, including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, and CCleaner. The company's core business is to provide security, privacy, and identity protection to approximately 500 million users in over 150 countries. Gen operates through a global, omni-channel sales approach, including direct, indirect, and freemium acquisition. They offer both free and paid subscription-based solutions, primarily direct-to-consumer.

• Employees: Approximately 3,400 (as of March 29, 2024)
• Geographic Footprint: Nearly 30 countries
• Headquarters: Tempe, Arizona and Prague, Czech Republic
• Founded: Not explicitly stated in the 10-K
• Number of locations/facilities: Not explicitly stated in the 10-K
• Revenue: $3.812 billion (FY2024)
• Market Capitalization: $7.117 billion (as of September 29, 2023)
• Key Subsidiaries/Brands: Norton, Avast, LifeLock, Avira, AVG, ReputationDefender, CCleaner

• CEO: Vincent Pilette
• CFO: Natalie Derse
• President: Ondrej Vicek
• Board Chair: Frank E. Dangeard

The 10-K does not provide specific background information on the executives.

• Annual Revenue: $3.812 billion (FY2024)
• Net Income: $616 million (FY2024)
• Market Cap: $7.117 billion (as of September 29, 2023)
• Total Assets: $15.772 billion (as of March 29, 2024)
• Employees: Approximately 3,400 (as of March 29, 2024)
• Key Financial Highlights: Net revenues increased $474 million year-over-year, primarily due to additional revenue contribution from Avast and higher sales in consumer security and identity and information protection products. Net income decreased $733 million year-over-year, primarily due to the absence of a tax benefit, decreased operating income, and increased interest expense.

Gen provides a broad portfolio of products and services across three key categories:

• Security and Performance: Real-time threat protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats. Also includes performance and optimization software.
• Identity Protection: Monitoring of credit reports, the dark web, and social media accounts to safeguard personal information. Includes identity restoration specialists and reimbursements for losses and expenses.
• Online Privacy: VPN solutions for encrypted data tunnels, and solutions to protect customer data by keeping it anonymous while browsing online or removing it from public data broker sites.

Gen operates as one reportable segment, focusing on cyber safety solutions. The company's revenue is derived from:

• Consumer Security: Includes revenues from Norton 360 Security, Avast, AVG, and Avira Security and VPN offerings.
• Identity and Information Protection: Includes revenues from Norton 360 with LifeLock offerings, LifeLock identity theft protection, and other identity and privacy solutions.

Gen's strategy is focused on long-term profitable growth through a consumer-centric approach. Key strategic priorities include:

• Extending Reach: Leveraging an omni-channel strategy and building partnerships to broaden privacy and identity protection internationally.
• Increasing Value: Cross-selling and up-selling, and expanding security, identity and privacy solutions to address consumers' evolving needs.
• Growing Loyalty: Increasing customer loyalty and retention, as consumers move from point products protecting their devices towards all-in-one comprehensive cyber safety memberships.
• Innovation: Gen plans to continue investing in research and development to drive long-term success and deliver new versions of existing offerings and new offerings to drive global leadership in cyber safety.

Gen operates in the growing cyber safety market, which includes security, identity, and privacy. The market is characterized by:

• Market Position: Gen is a leading provider in consumer cyber safety.
• Key Competitors: Apple, Google, Microsoft, Bitdefender, ESET, F-Secure, Kaspersky, Malwarebytes, McAfee, Trend Micro, Webroot, Equifax, Experian, TransUnion, Allstate, Aura, Generali (Iris), Intuit (Credit Karma), Microsoft, Brave, DuckDuckGo, IPVanish, Kape, Mozilla and Nord Security, 1Password, Bark, Dashlane, LastPass, Life360, Proton, and Truecaller.
• Industry Trends: The cyber threat landscape is becoming more complex, with cybercriminals using advanced technologies like AI and machine learning. Consumer demands and behaviors are rapidly changing, driving more activities online.

• Business Strategy and Industry Risks: Inability to develop new solutions or improve existing ones, competition from a broad range of companies, and issues in the development and deployment of AI.
• Operational Risks: Challenges in managing international operations, reliance on Broadcom for certain services, and failure to offer high-quality customer support.
• Financial Risks: Impact of acquisitions and divestitures, customer retention and pricing model changes, and fluctuations in interest rates and foreign currency exchange rates.
• Regulatory Risks: Compliance with privacy and data security laws, and legal and compliance risks related to intellectual property rights.