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    GEN
    Earnings call· Apr 2026(Q4 FY26)

    Gen Digital Q4 FY26 earnings call GEN

    May 7, 2026 Source

    Executive summary

    Gen Digital Q4 FY26 — Record Revenue, Double-Digit Growth, and Accelerated AI Integration

    Gen Digital delivered its strongest results in a decade, driven by the convergence of cyber safety and financial wellness, exceeding $5 billion in revenue for the first time. The company is structurally accelerating to double-digit revenue growth and mid-teens EPS growth, leveraging its platform and AI integration to personalize offerings and deepen customer relationships. Gen is building a trust layer for the Agentic AI era, positioning itself at the intersection of security, AI, and financial wellness.

    Highlights

    5

    • Record total bookings of $5.1 billion, up 10% pro forma in FY26.

    • Record total revenue of $5 billion, up 9% pro forma in FY26.

    • Non-GAAP EPS reached $2.56 in FY26, up 15% year-over-year, marking 10 consecutive quarters within 12%-15% growth commitment.

    • Achieved 3x net leverage a year ahead of plan.

    • Trust-Based Solutions segment revenue grew 23% pro forma in FY26, nearing $1.7 billion.

    Concerns

    2

    • Market concerns about AI disintermediation

    • Significant fluctuations in FX rates due to current volatility in financial markets

    Guidance & targets

    5
    CategoryTargetConfidence
    Full-year FY27 Revenue
    $5.325 billion to $5.425 billion
    high materiality
    High
    Full-year FY27 Non-GAAP EPS
    $2.85 to $2.95
    high materiality
    High
    Q1 FY27 Revenue
    $1.3 billion to $1.325 billion
    medium materiality
    High
    Q1 FY27 Non-GAAP EPS
    $0.68 to $0.70
    medium materiality
    High
    Incremental Annual Revenue from embedded financial wellness, partner expansion, and Engine growth
    over $100 million
    medium materiality
    Medium

    Segment performance

    2
    SegmentRevenueYoYQoQMargin
    Cyber Safety
    Foundation segment, steadily growing, AI expands threat landscape and opportunity. Strong demand for all-in-one subscriptions. Q4 revenue growth accelerated to 4%.
    Subscribers: 79 million (total Gen)Norton cross-sell bookings penetration: >26%Cohort-level ARPU: 7% to 10% higher than 2 years agoMembership adoption: approaches 60%
    		$3.3 billionmid-single digits—61%
    Trust-Based Solutions
    High-growth segment, deepening customer relationships from protection to financial decision-making. MoneyLion exceeded expectations, and Engine marketplace delivered record revenue. Q4 revenue grew 20% pro forma.
    Connected financial accounts: 107 million (Q4)LifeLock Mobile revenue growth: almost 50%LifeLock NPS: 73LifeLock retention: 90%MoneyLion revenue growth: over 40% (FY26)Engine annual inquiries: nearly 400 millionEngine revenue growth: tripled in 3 years
    		nearing $1.7 billion23% pro forma—30%

    Operational metrics

    32
    Non-GAAP EPS
    $2.56up 15% year-over-year
    FY26

    Achieved high end of guidance, marking 10 consecutive quarters within 12% to 15% growth commitment.

    Non-GAAP EPS
    $0.67up 14% year-over-year
    Q4 FY26

    Above guidance, 10th consecutive quarter of achieving or exceeding 12% to 15% EPS growth target.

    Operating margin
    51%
    FY26

    Full year operating income was $2.5 billion.

    Operating margin
    50%
    Q4 FY26

    Q4 operating income was $641 million, up 9% year-over-year.

    Net leverage
    3x
    Q4 FY26

    Achieved target a year ahead of schedule.

    Share count reduction
    15 million shares
    FY26

    Lowered share count.

    Weighted average ending share count
    609 milliondown 15 million year-over-year
    Q4 FY26

    Used for diluted EPS calculation.

    Cash and investments balance
    $411 million
    Q4 FY26

    Strong liquidity position.

    Share repurchase authorization remaining
    $2.1 billion
    Q4 FY26

    Will continue a balanced approach to capital deployment.

    Capital deployed
    nearly $6 billion
    past 3 years

    Highly disciplined and balanced manner.

    Share repurchases
    $200 million
    Q4 FY26

    Part of disciplined capital deployment.

    Debt repayment
    $200 million
    Q4 FY26

    Part of disciplined capital deployment.

    Customer count
    79 millionup from 78 million last quarter and 68 million a year ago
    Q4 FY26

    Broad-based growth across segments and channels.

    Connected financial accounts
    107 millionup 36% year-over-year
    Q4 FY26

    Hitting all-time highs each quarter, unlocking monetization.

    MoneyLion PFM utilization represented by membership
    about 5%
    Q4 FY26

    Significant room to grow.

    Engine annual inquiries
    nearly 400 million
    annual

    Marketplace for personalized financial recommendations.

    Engine revenue growth
    tripled
    past 3 years

    Delivered record revenue.

    Norton 360 NPS
    nearly doubledyear-over-year
    FY26

    Improved engagement and outcomes.

    LLM-driven traffic
    up 62%year-over-year
    FY26

    From constant optimization of value proposition and content.

    Norton cross-sell bookings penetration
    exceeding 26%
    Q4 FY26

    Driven by AI-driven recommendations and personalized messaging.

    Cohort-level ARPU
    7% to 10% higherthan 2 years ago
    Q4 FY26

    Reflects improved ARPU and retention.

    LifeLock Mobile revenue growth
    almost 50%
    Q4 FY26

    Driven by redesigned experience and deeper engagement.

    LifeLock NPS
    73up 4 points year-over-year
    Q4 FY26

    Record high, reflecting improved experience.

    LifeLock retention
    touching 90%
    Q4 FY26

    Improving across cohorts.

    MoneyLion growth
    nearly 40%
    Q4 FY26

    Combined overall growth for MoneyLion.

    MoneyLion annual revenue
    $1 billion
    annualized

    Across PFM and Engine categories.

    Direct revenue growth
    19%7% pro forma
    Q4 FY26

    Reflects continued strength of recurring subscription business.

    Partner business growth
    78%20% pro forma
    Q4 FY26

    Surpassed Investor Day target, approaching $1 billion run-rate. Fastest-growing channel.

    Annualized bookings from higher-tier memberships
    surpassed $0.5 billion
    Q4 FY26

    Includes scam detection, identity protection, restoration, and insurance.

    G&A as % of revenue
    less than 3%
    FY26

    Operating with disciplined approach.

    Non-GAAP tax rate
    22%remained steady
    Q4 FY26

    Steady tax rate.

    Quarterly cash dividend
    $0.125
    Q1 FY27

    Approved by Board of Directors, payable June 10, 2026.

    Industry KPIs

    7
    MetricValueDetails
    Revenue growth$5 billionUSD
    Bookings billings$5.1 billionUSD
    Customer account count79 millioncustomers
    Gross retention renewal rate90%%
    Multi product platform attachapproaches 60%%
    Operating FCF margin rule of 4051%%
    Ai product adoption monetization34%%

    Orderbook & backlog

    6
    Total bookings$5.1 billionFY26

    up 28% as reported and up 10% pro forma

    Record bookings

    Q4 bookings$1.36 billionQ4 FY26

    up 27% year-over-year and up 10% on a pro forma basis

    Record bookings

    Cyber Safety bookingsnullFY26

    grew 5% pro forma

    Trust-Based Solutions bookingsnullFY26

    grew 24% pro forma

    Cyber Safety bookingsnullQ4 FY26

    grew 5%

    Trust-Based Solutions bookingsnullQ4 FY26

    more than doubled as reported / grew 21% on a pro forma basis

    With the addition of financial wellness to portfolio

    Product announcements

    6
    ProductTypeDetails
    Genieupdate
    Financial Scanlaunch
    LifeLock reimagined experienceupdate
    Norton Neolaunch
    Digital concierge for Norton subscriberslaunch
    Agent Trust Hub technology integration into Norton 360update

    Deals & partnerships

    6
    EquifaxEmbedding Engine into myequifax.com

    Announced in February, embeds Engine into myequifax.com.

    MicrosoftMulti-category financial offer provider within Microsoft Copilot Discovery feeds and MSN AI

    Live with credit cards and deposits, expanding to mortgages, loans, and insurances.

    TrellisAcquisition of insurance marketplace technology

    Added a fully embedded insurance marketplace technology.

    xAICo-architecting new AI native products, including a digital concierge for Norton subscribers

    Partnership to power new AI native products, launching a digital concierge this summer.

    OpenAIJoined OpenAI's Trusted Access for Cyber, leveraging advanced defense capabilities of GPT-5.5

    Working with OpenAI to advance mission of protecting consumers.

    VercelExpanded Agent Trust Hub through partners

    Expanded Agent Trust Hub through partners like Vercel.

    Risks & headwinds

    2
    Market concerns about AI disintermediation

    null

    Mitigation: Gen's structural acceleration from mid-single-digit to double-digit revenue growth and mid-teens EPS growth, building a trust layer for the AI economy.

    Significant fluctuations in FX rates due to current volatility in financial marketsQ1 FY27

    null

    Mitigation: Will continue to monitor operating environment and stay focused on what we can control.

    What to watch in Q1 FY27

    5

    Connected financial accounts

    next quarter
    Current107 million (up 36% YoY)
    TargetContinued growth and monetization

    Why it matters

    This metric is a leading indicator of future synergies between cyber safety and financial wellness, crucial for expanding customer lifetime value and monetization.

    We do see to get a lot more cyber safety becoming the full foundation. We offered LifeLock into now a membership inside MoneyLion. And so you're going to see this cross-pollination. We'll continue to report on that metric, which we believe is the first leading indicator of the future synergies.

    Q&A highlights

    5

    How will engagement with the financial wellness portfolio evolve, and what is the gross margin impact of working with frontier AI models?

    Vincent Pilette explained that financial wellness engagement is driven by the convergence of cyber safety and financial protection, as scams increasingly target financial assets. Connected financial accounts grew to 107 million, up 36% YoY, and are a leading indicator for future synergies. For AI models, Gen provides the trust layer, not the models themselves, so there's no CapEx impact. While there will be a per-usage cost to LLMs, the monetization through membership will be similar to cyber safety, though with potentially lower profit margins than core cyber safety.

    “It does not have an impact on CapEx. We're not developing those models, if you want. They own the model. We own the power of trust layer to the customer. And when we increase more value, our intention is to monetize that through membership.”

    asked by Meta Marshall · answered by Vincent Pilette

    2 min read6 chapters

    Detailed Narrative

    01

    FY26 Performance Highlights

    Gen Digital achieved its strongest results in a decade in FY26, with pro forma bookings up 10%, revenue up 9%, and EPS up 15%. Revenue crossed $5 billion for the first time, and non-GAAP EPS reached $2.56. The company also reached its 3x net leverage target a year ahead of schedule, demonstrating strong financial execution and capital management.

    02

    Evolution to Agentic AI Era

    Gen has evolved from a pure-play consumer cybersecurity company to one spanning security, privacy, identity, reputation, financial protection, and empowerment. This expansion is unified by a shared data platform and intelligence layer, enabling personalized offerings and deeper customer relationships. The company is building a trust infrastructure for the AI economy, launching AI-native products like Norton Neo and partnering with frontier model providers like xAI and OpenAI.

    03

    Cyber Safety Segment Strength

    The $3.3 billion Cyber Safety franchise continues to grow mid-single digits, driven by intensifying AI-driven threats and the integration of cyber safety with financial protection. The platform blocks hundreds of millions of threats, detects deepfakes, and stops scams. Customer count reached 79 million, with cyber safety subscribers growing for 10 consecutive quarters, and ARPU and retention both improved.

    04

    Trust-Based Solutions Growth

    The high-growth Trust-Based Solutions segment, nearing $1.7 billion and growing over 20%, includes LifeLock and MoneyLion. LifeLock's reimagined mobile-first app has driven a 50% increase in mobile revenue and improved NPS to 73 and retention to 90%. MoneyLion exceeded expectations with over 40% revenue growth, driven by Instacash and Credit Builder, and its Engine marketplace tripled revenue in three years, signing over 30 new partnerships in Q4.

    05

    AI as a Strategic Lever

    AI is transforming Gen's operations and product strategy. The company is uniquely positioned to provide the trust layer for the AI economy, especially around personal data and identity. Norton Neo, an AI-native secure browser, is gaining traction, and the Agent Trust Hub technology is being integrated into Norton 360, offering multi-layer agent security for consumers.

    06

    Capital Allocation and Shareholder Value

    Over the past three years, Gen deployed nearly $6 billion in capital (122% of cumulative free cash flow), with 40% towards debt paydown, 40% towards shareholder returns (buybacks and dividends), and 20% for tuck-in acquisitions. The company has $2.1 billion remaining in share repurchase authorization and plans to continue a balanced approach to capital deployment in FY27.

    AI-generated summary of the company’s earnings call. Not investment advice.