greeksoup/ stock research
Stock research / United States / GEN / FY2026

Gen Digital (GEN) FY2026 results: revenue $5.0 billion, up 27.1% on the year

Gen Digital Inc. (GEN) reported revenue of $5.0 billion for fiscal 2026, the year ended 3 April 2026, up 27.1% on the year before. Net income was $973 million, up 51.3%, and diluted earnings per share $1.57. The figures are the company's own, from the 10-K it filed with the SEC on 21 May 2026.

Revenue
$5.0 billion
+27.1% on the year
FY2019FY2026
Operating margin
42.4%
40.9% a year earlier
FY2019FY2026
Net income
$973 million
+51.3% on the year
FY2019FY2026
Diluted EPS
$1.57
+52.4% on the year
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 2 raised, 2 new.

  • Full-year revenue passed $5 billion: FY26 revenue rose 27% from $3,935 million to $5,000 million. GAAP operating income rose 32% to $2,120 million, and GAAP diluted EPS rose 53% to $1.57.
  • Trust-Based Solutions revenue more than doubled: Trust-Based Solutions revenue was $446 million in Q4, against $202 million a year earlier. Full-year revenue was $1,661 million against $759 million.
  • Litigation credit lifted GAAP results: Q4 included a $353 million litigation benefit that the company excludes from non-GAAP results. The year had a $336 million benefit, against $65 million of cost in fiscal 2025.
  • Non-GAAP operating margin lower year on year: Non-GAAP operating margin was 50.0% in Q4 against 58.4% a year earlier, and 50.9% for the year against 58.4%. GAAP operating margin was 62.6% in Q4.
  • Free cash flow reached $1,523 million: Free cash flow was $1,523 million for the year against $1,206 million, and $449 million in Q4 against $470 million. Operating cash flow was $1,545 million for the year.
Read the Q4 FY2026 earnings call summary

From this 10-K

Gen Digital sells consumer cyber safety and financial wellness products under the brands Norton, Avast, LifeLock and MoneyLion. It had approximately 500 million total users as of 3 April 2026, drawn from direct, partner and freemium channels, of which approximately 79 million were paid customers, counting anyone with at least one paid subscription at period end or a unique account with at least one paid transaction in the trailing twelve months. Its products are used in more than 150 countries. Both free and paid subscription products are sold, mostly on annual terms though monthly is offered, and it also distributes first-party and third-party products through integrated marketplaces and partner platforms. There are two operating segments, Cyber Safety Platform and Trust-Based Solutions.

Gen Digital Inc., the 10-K for 2026

Gen Digital sells consumer cyber safety and financial wellness products under the brands Norton, Avast, LifeLock and MoneyLion. It had approximately 500 million total users as of 3 April 2026, drawn from direct, partner and freemium channels, of which approximately 79 million were paid customers, counting anyone with at least one paid subscription at period end or a unique account with at least one paid transaction in the trailing twelve months. Its products are used in more than 150 countries. Both free and paid subscription products are sold, mostly on annual terms though monthly is offered, and it also distributes first-party and third-party products through integrated marketplaces and partner platforms. There are two operating segments, Cyber Safety Platform and Trust-Based Solutions.

Cyber Safety Platform

This segment holds the security, comprehensive suite and privacy products, across two categories. Security and performance covers real-time threat protection for PCs, Macs and mobile devices against malware, ransomware, phishing and other threats, monitoring and blocking unauthorised access to a device. Against scams, AI-powered features are built into the Norton products covering phone calls, texts, emails, deepfakes and websites, and Norton Scam Protection and Scam Protection Pro use the Norton Genie AI engine to analyse the meaning of words rather than just links. There are products for small businesses to protect devices, online activity and customer data, and performance and optimisation software that frees up space, clears online tracking and manages system resources.

Online privacy covers virtual private network products under the Norton, Avast and freemium brands, which carry encrypted connections so a customer can transmit passwords, bank details and card numbers on a device, including over public Wi-Fi, with malware and scam protection built in. Alongside them, AntiTrack and Secure Browser limit tracking while browsing, and Privacy Monitor Assistant and BreachGuard help a customer find and remove personal information from public data broker sites.

The products reach a customer two ways. Comprehensive membership plans bundle the whole portfolio for a membership fee, sold as Norton 360 and Avast One subscriptions with basic, mid-level and premium tiers, where the higher tiers add online privacy features and identity and restoration services. Point solutions are stand-alone products in security, device performance and privacy, free or paid, that a customer can add to what it already has.

Trust-Based Solutions

This segment holds identity protection, restoration support, digital reputation and financial wellness, including the first-party MoneyLion products and the Engine marketplace.

In the United States identity theft protection is sold as a premium membership, primarily through LifeLock, monitoring credit reports, the dark web, social media and financial accounts. Where identity theft happens, an Identity Restoration Specialist works directly with the customer on the recovery. All plans carry reimbursement for certain losses and expenses, with coverage limits up to $3 million depending on the plan. Outside the United States identity products go out under the Norton, Avast and other brands, with dark web monitoring in over 50 countries, monitoring of credit, social media and financial accounts, restoration support, and identity theft insurance in selected countries. Digital reputation management helps a customer manage personal branding across search results, social media and the wider web.

How it reaches customers

The direct-to-consumer channel uses advertising across the brand family, with subscriptions sold mainly through the company's own e-commerce platform and mobile apps and a direct billing relationship with most of those customers, and the core suite of financial products also sold through the mobile applications and marketplace services.

The indirect channel uses strategic and affiliate partners to refer customers and reach their customer bases, through retailers, telecom service providers, employee benefit providers, strategic partners, small offices, home offices and very small businesses. Physical retail is a small part of distribution, which the company says limits the effect of supply chain disruption.

Freemium channels run through brands including Avast, where a free version gives a baseline level of protection and presents premium functions based on the user's risk profile, and the user can add a specific premium product or upgrade to a suite covering security, identity and privacy across devices, becoming a paid customer.

The acquisition of MoneyLion added a consumer and enterprise marketplace, branded Engine by Gen, through which consumers reach offers for both financial and non-financial products and services.

From Gen Digital's annual report on Form 10-K for the year ended 3 April 2026. The filing

Written from the 10-K filed 21 May 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue5,0003,9353,800+27.1%
Cost of revenue1,077776731+38.8%
Gross profit3,9233,1593,069+24.2%
Gross margin78.5%80.3%80.8%
Research and development409329332+24.3%
Operating income2,1201,6101,110+31.7%
Operating margin42.4%40.9%29.2%
Pre-tax income1,5111,029447+46.8%
Income tax538386-160+39.4%
Effective tax rate35.6%37.5%-35.8%
Net income973643607+51.3%
Net margin19.5%16.3%16.0%
Diluted EPS$1.57$1.03$0.95+52.4%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow1,5451,2212,064+26.5%
Capital expenditure22.015.020.0+46.7%
Free cash flow1,5231,2062,044+26.3%
Free cash flow margin30.5%30.6%53.8%
Cash from investing-1,011-1002.0
Cash from financing-1,133-970-1,961
Depreciation and amortisation493419485+17.7%
Share-based compensation237133138+78.2%
Buybacks634272441+133.1%
Dividends paid312313323-0.3%
Dividend per share$0.50$0.50$0.500.0%
Diluted shares, weighted619m624m642m-0.8%
Shares outstanding at period end598m617m623m-3.1%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity2,6112,2692,140+15.1%
Debt8,1968,2598,604-0.8%
Operating lease liabilities45.042.038.0+7.1%
Other liabilities4,7374,9254,990-3.8%
Total liabilities and equity15,58915,49515,772+0.6%
Fixed assets71.060.072.0+18.3%
Goodwill10,99610,23710,210+7.4%
Intangible assets2,0962,2672,638-7.5%
Cash and equivalents4111,006846-59.1%
Receivables361171163+111.1%
Other assets1,6541,7541,843-5.7%
Total assets15,58915,49515,772+0.6%

10-K for the year ended 3 April 2026, filed 21 May 2026: the filing.