Gen Digital (GEN) Barclays 23rd Annual Global Technology Conference summary

Business overview and strategic direction

• Positioned as a leading consumer cybersafety provider with 77 million paid customers and 200 million active users, leveraging brands like Norton, Avast, LifeLock, and Moneyline.

• Strategy expanded from device security to user-centric digital footprint protection, now integrating financial wellness as a core offering.

• Acquisition of Moneyline accelerated the move into embedded financial wellness, targeting consumer needs for financial management and security.

• Financial wellness and cybersafety are expected to become symbiotic, with future offerings blending both areas for consumers.

• White-label modular architecture enables scalable integration of new features and brands, supporting rapid innovation.

Financial performance and growth

• Achieved 25%-27% growth in bookings and revenue in Q2, with strong free cash flow and high margins.

• Eight consecutive quarters of double-digit EPS growth, with EPS outpacing revenue growth.

• Core business maintained 4%-5% growth for four straight quarters, excluding Moneyline.

• Moneyline grew nearly 50% in its first two quarters post-acquisition, with the Engine marketplace growing over 50% for three quarters.

• Operating margins at 51%, with Moneyline's margin improving from 14%-15% to 20%-22% post-integration.

Moneyline integration and marketplace strategy

• Moneyline's platform combines first-party PFM tools and a technology-driven embedded marketplace (Engine) for financial products.

• Marketplace now represents about 60% of Moneyline's business, outpacing PFM tools, and is being embedded in both proprietary and third-party apps.

• Cross-selling opportunities are expanding, leveraging a captive base of 77 million paid customers for high-margin transactions.

• The Engine enables a full ecosystem of first- and third-party offerings, using AI to match consumer needs and personalize experiences.

• Marketplace expansion includes non-financial products, increasing data insights and innovation potential.