Gen Digital (GEN) 10-K Summary — Year Ended Mar 29, 2024

Gen Digital Inc. filed its annual report. The report highlights revenue growth, positive profitability, and the company's capital allocation strategy, including the integration of the Avast acquisition.

Key takeaway

Year ended Mar 29, 2024 · FY2026 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$3.8B

Revenue reported for the fiscal year.

Operating income

$1.1B

Income from operations reported for the year.

Net income

$607M

Net income reported for the year.

Operating cash flow

$2.1B

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Apr 1, 2022	$2.8B	n/a
Mar 31, 2023	$3.3B	+18.6%
Mar 29, 2024	$3.8B	+14.6%

Business overview

Gen Digital Inc. is a cybersecurity company that provides digital protection solutions. The filing mentions its acquisition of Avast, which aligns with its focus on cybersecurity.

Financial performance

The company reported revenue growth compared to the prior period, positive operating income and net income, and strong cash flow from operations.

Material risks

The filing identifies risks associated with managing financial risk and the integration of the Avast acquisition, including the achievement of expected synergies.

Liquidity and capital

The company has historically funded operations through cash flow, borrowings, and debt issuances. Its capital allocation strategy balances stockholder returns, financial risk management, and flexibility for acquisitions, including a quarterly dividend, debt repayment, and share repurchases.

What to watch

Monitor the company's progress in integrating the Avast acquisition and achieving the expected cost synergies.