Gen said net revenues for the quarter ended June 28, 2024 rose $22 million from a year earlier. The company attributed the increase to higher sales of consumer security products $10 million, higher sales of identity and information protection products $15 million, and a decline in legacy products $3 million.

10-QQuarterly reportFiled Aug 7, 2024Period of report Jun 28, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Gen said net revenues for the quarter ended June 28, 2024 rose $22 million from a year earlier. The company attributed the increase to higher sales of consumer security products $10 million, higher sales of identity and information protection products $15 million, and a decline in legacy products $3 million.
The company said operating income for the quarter rose $58 million. It cited higher net revenues, lower restructuring costs related to its Avast acquisition, and lower amortization of intangible assets as factors. Net income fell $6 million, and the company attributed the decline mainly to higher income tax expense.
Gen said cash and cash equivalents decreased $202 million compared with March 29, 2024, to June 28, 2024. During the quarter, it repurchased 11 million shares of common stock for a total of $272 million, and said the remaining balance of its repurchase authorization was $2,728 million.
The company said its net non-operating expense for the quarter decreased $17 million, and that interest expense related to its Term B facility decreased $15 million. Gen announced a cash dividend of $0.125 per share on August 1, 2024.

Key figures

Quarter ended June 28, 2024

Revenue: $965M
Operating income: $417M
Net income: $181M
EPS: $0.29
Gross profit: $775M
Operating cash flow: $264M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly net revenues up $22 million

Gen said net revenues for the quarter ended June 28, 2024 rose $22 million from a year earlier. The company attributed the increase to higher sales of consumer security products $10 million, higher sales of identity and information protection products $15 million, and a decline in legacy products $3 million.

Source · Based on the MD&A text of the filing

Operating income up $58 million

The company said operating income for the quarter rose $58 million. It cited higher net revenues, lower restructuring costs related to its Avast acquisition, and lower amortization of intangible assets as factors. Net income fell $6 million, and the company attributed the decline mainly to higher income tax expense.

Source · Based on the MD&A text of the filing

Cash down $202 million, share repurchases $272 million

Gen said cash and cash equivalents decreased $202 million compared with March 29, 2024, to June 28, 2024. During the quarter, it repurchased 11 million shares of common stock for a total of $272 million, and said the remaining balance of its repurchase authorization was $2,728 million.

Source · Based on the MD&A text of the filing

Term B facility interest expense down $15 million

The company said its net non-operating expense for the quarter decreased $17 million, and that interest expense related to its Term B facility decreased $15 million. Gen announced a cash dividend of $0.125 per share on August 1, 2024.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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