Verisign (VRSN) FY2024 results: revenue $1.6 billion, up 4.3% on the year

Verisign Inc. (VRSN) reported revenue of $1.6 billion for fiscal 2024, the year ended 31 December 2024, up 4.3% on the year before. Net income was $786 million, down 3.9%, and diluted earnings per share $8.00. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.

Revenue

$1.6 billion

+4.3% on the year

FY2017FY2024

Operating margin

67.9%

67.0% a year earlier

FY2017FY2024

Net income

$786 million

-3.9% on the year

FY2017FY2024

Diluted EPS

$8.00

+1.3% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,557	1,493	1,425	+4.3%
Cost of revenue	191	197	201	-3.0%
Gross profit	1,366	1,296	1,224	+5.4%
Gross margin	87.7%	86.8%	85.9%
Research and development	96.7	91.0	85.7	+6.3%
Selling, general and administrative	211	204	195	+3.4%
Operating income	1,058	1,001	943	+5.8%
Operating margin	67.9%	67.0%	66.2%
Interest expense	75.3	75.3	75.3	0.0%
Pre-tax income	1,022	976	880	+4.6%
Income tax	236	159	206	+48.6%
Effective tax rate	23.1%	16.3%	23.4%
Net income	786	818	674	-3.9%
Net margin	50.4%	54.8%	47.3%
Diluted EPS	$8.00	$7.90	$6.24	+1.3%

$ million except per share.

Free 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

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	903	854	831	+5.7%
Capital expenditure	28.1	45.8	27.4	-38.6%
Free cash flow	874	808	804	+8.2%
Free cash flow margin	56.2%	54.1%	56.4%
Cash from investing	286	-97.4	356
Cash from financing	-1,222	-890	-1,036
Depreciation and amortisation	36.9	44.1	46.9	-16.3%
Share-based compensation	61.1	59.7	58.6	+2.3%
Buybacks	1,226	901	1,048	+36.0%
Dividends paid	0.0	0.0	0.0
Dividend per share	$0.00	$0.00	n/a
Diluted shares, weighted	98m	104m	108m	-5.1%
Shares outstanding at period end	95m	101m	105m	-6.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-1,958	-1,581	-1,562
Debt	1,792	1,790	1,788	+0.1%
Other liabilities	1,572	1,540	1,508	+2.1%
Total liabilities and equity	1,406	1,749	1,733	-19.6%
Fixed assets	224	233	232	-3.7%
Goodwill	52.5	52.5	52.5	0.0%
Investments	393	686	607	-42.7%
Cash and equivalents	207	240	374	-13.9%
Receivables	5.6	6.3	6.2	-11.1%
Other assets	524	531	462	-1.2%
Total assets	1,406	1,749	1,733	-19.6%

10-K for the year ended 31 December 2024, filed 13 February 2025: the filing.