Short answer
Gen Digital (GEN) filed its fiscal 2025 10-K annual report with the SEC on May 15, 2025. It reported revenue of $3.9B (+3.2% year over year) and net income of $643M.
- Top risk flagged: Regulatory risk from Tax Cuts and Jobs Act; $139 million deemed repatriation taxes payable by July 2025
FY2025 key financial metrics · XBRL
- Revenue
- $3.9B
- +3.2% YoY
- Net income
- $643M
- +4.4% YoY
- Operating margin
- 40.9%
- +11.5 pp YoY
- Gross margin
- 80.3%
- −0.5 pp YoY
- EPS (diluted)
- $1.03
- +7.3% YoY
- ROE
- 28.3%
- +0.3 pp YoY
- Operating cash flow
- $1.2B
- −40.8% YoY
Source: XBRL data from the Gen Digital (GEN) FY2025 10-K on SEC EDGAR. USD.
Gen Digital FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Subscription-based consumer cyber safety solutions spanning security, privacy, identity protection, and financial wellness globally
- New emphasis: AI-powered scam protection integrated in Norton Cyber Safety products for advanced threat detection across calls, texts, emails, and websites
- Strategic shift: Expanded freemium channels through Avast and Avira acquisitions targeting broader international reach and conversion to paid memberships
- Quantitative metric: Approximately 500 million users globally, including 65 million paid customers and over 40 million direct-billing customers as of March 28, 2025
- Noteworthy fact: Norton achieved 93% global brand awareness, positioning Gen as a leading trusted brand in consumer cyber safety according to internal 2025 brand tracker
Management Discussion & Analysis
- Revenue $3,935M, up 4% YoY; growth from identity/info protection ($95M) and consumer security ($53M); legacy down $13M
- Operating margin 41% vs 29%; gross margin 80% vs 81%; operating expenses down 21% to $1,549M due to lower legal, amortization, restructuring
- Best segment: identity and information protection with $95M revenue increase; worst: legacy product down $13M
- Interest expense down $91M to $578M due to debt prepayment; operating cash flow sufficient with no material liquidity concerns; capital allocations include dividends, debt repayment, and share repurchases described but no specific FY25 amounts given
- Management expects sufficient liquidity for 12+ months; risks include economic conditions, legal proceedings, tax audits, and regulatory factors
Risk Factors
- Regulatory risk from Tax Cuts and Jobs Act; $139 million deemed repatriation taxes payable by July 2025
- Geopolitical exposure with $359 million cash held in foreign subsidiaries subject to state/non-U.S. taxes
- Operational risk from Avast acquisition restructuring plan; expected $150 million total costs by end of 2025
- Competitive risk from technology-enabled personal finance platform acquisition in Q4 fiscal 2025 to enhance offerings
- Financial risk from $8.355 billion total debt including $5.905 billion Term Loans and $2.450 billion Senior Notes
Generated from the filing text; verify against the original. How to read a 10-K
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