GEN — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• update these forward-looking statements to reflect events occurring or circumstances arising after the date of this report. These forward-looking statements involve risks and uncertainties, and our actual results, performance, or achievements could differ materially from those expressed or implied b…

• Gen Digital Inc. is a global leader in consumer Cyber Safety and Trust-Based Solutions, empowering people around the world to live safer digital lives while building confidence and control over their financial futures. Through its trusted brands, including Norton, Avast, LifeLock and MoneyLion, Gen …

• Our Cyber Safety Platform includes our security, comprehensive suites, and privacy products, which deliver technology solutions and superior threat protection to help people navigate the digital world securely, privately and with confidence. Our Trust-Based Solutions includes our identity protection…

• We have a 52/53-week fiscal year ending on the Friday closest to March 31. The three months ended July 3, 2026 consisted of 13 weeks, whereas the three months ended July 4, 2025 consisted of 14 weeks. Our 2027 fiscal year consists of 52 weeks and ends on April 2, 2027.

• (In millions, except for per share amounts)July 3, 2026July 4, 2025

Text removed vs the prior filing · source: 10-Q · 2026-02-06

• Gen Digital Inc. is a global company powering Digital Freedom through its family of trusted consumer brands including Norton, Avast, LifeLock, MoneyLion, and more. Our portfolio spans Cyber Safety Platform and Trust-Based Solutions, delivering intuitive, AI-powered services that enable people to con…

• Our Cyber Safety Platform delivers technology solutions and superior threat protection to help people navigate the digital world, securely, privately and with confidence. Our Trust-Based Solutions provide innovative solutions and insights that empower consumers to manage their identity, reputation a…

• We have a 52/53-week fiscal year ending on the Friday closest to March 31. The three months ended January 2, 2026 and December 27, 2024 each consisted of 13 weeks. The nine months ended January 2, 2026 consisted of 40 weeks, whereas the nine months ended December 27, 2024 consisted of 39 weeks. Our …

• Below are our financial highlights for the third quarter of fiscal 2026, compared to the corresponding period in the prior year:

• •Net revenues increased $254 million, primarily due to higher sales in both our Cyber Safety Platform products and Trust-Based Solutions, including an increase of $218 million due to the acquisition of MoneyLion, reported in Trust-Based Solutions.

Text added vs the prior filing · source: 10-Q · 2026-08-07

• In addition, we have a $1,495 million revolving credit facility, net of our letters of credit, that, if drawn, bears interest at a variable rate based on SOFR and would be subject to the same risks associated with adverse changes in SOFR.

• We conduct business in numerous currencies through our worldwide operations, and our entities hold monetary assets or liabilities, earn revenues or incur costs in currencies other than each entity’s functional currency, primarily in Euro, Japanese Yen, British Pound, Australian Dollar, Czech Koruna …

• Growth in our international operations will incrementally increase our exposure to foreign currency fluctuations as well as volatile market conditions, including the weakening of foreign currencies relative to USD, which has negatively affected, and may in the future continue to negatively affect, o…

Text removed vs the prior filing · source: 10-Q · 2026-02-06

• In March 2023, we entered into interest rate swap agreements to mitigate risks associated with the variable interest rate of our Term A Facility. These pay-fixed, receive-floating rate interest rate swaps have the economic effect of hedging the variability of forecasted interest payments until their…

• The objective of our interest rate swaps, all of which are designated as cash flow hedges, is to manage the variability of future interest expense.

• In addition, we have a $1,494 million revolving credit facility, net of our letters of credit, that if drawn bears interest at a variable rate based on SOFR and would be subject to the same risks associated with adverse changes in SOFR.

• We conduct business in numerous currencies through our worldwide operations, and our entities hold monetary assets or liabilities, earn revenues or incur costs in currencies other than the entity’s functional currency, primarily in Euro, Japanese Yen, British Pound, Australian Dollar, Czech Koruna a…

• Growth in our international operations will incrementally increase our exposure to foreign currency fluctuations as well as volatile market conditions, including the weakening of foreign currencies relative to USD, which has and may in the future negatively affect our revenue expressed in USD.

Text added vs the prior filing · source: 10-Q · 2026-08-07

• effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this report.

• Our management, including our Chief Executive Officer and Chief Financial Officer, recognizes that disclosure controls and procedures and internal control over financial reporting can provide only reasonable assurance, not absolute assurance, that their objectives will be achieved. No control system…

Text removed vs the prior filing · source: 10-Q · 2026-02-06

• On April 17, 2025, we completed our acquisition of MoneyLion and are currently integrating MoneyLion into our operations and internal control processes. Pursuant to the SEC’s guidance that an assessment of a recently acquired business may be omitted from the scope of the evaluation for a period up t…

• A material weakness is a deficiency or a combination of deficiencies in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of a registrant’s financial statement will not be prevented or detected on a timely basis.

• Prior to the acquisition by Gen, MoneyLion reported an identified material weakness in its internal control over financial reporting. As a result, MoneyLion concluded that, as of December 31, 2024, its disclosure controls and procedures were not effective in providing reasonable assurance that infor…

• reflected in the financial statements and no misstatements were identified, the control deficiency could have resulted in unauthorized disbursements of cash. Accordingly, this deficiency was determined to constitute a material weakness. MoneyLion has undertaken steps to remediate the material weakne…

• Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not…

Text added vs the prior filing · source: 10-Q · 2026-08-07

• •Issues in the development and deployment of AI, including generative AI and emerging AI-enabled cyber threats, could expose us to regulatory, privacy, IP, cybersecurity, operational and reputational risks.

• •If we fail to offer high-quality customer support, our customer satisfaction may suffer and have a negative impact on our business and reputation.

• •The legal and regulatory regimes governing certain of our products and services are uncertain and evolving.

• •Our substantial indebtedness and related debt obligations could limit our financial and operating flexibility and increase our vulnerability to adverse business and economic conditions.

• •The failure of financial institutions or transactional counterparties could adversely affect our current and projected business operations and our financial condition and results of operations.

Text removed vs the prior filing · source: 10-Q · 2026-02-06

• •Issues in the development and deployment of artificial intelligence (“AI”) may result in reputational harm and legal liability and could adversely affect our results of operations.

• •If we fail to offer high-quality customer support, our customer satisfaction may suffer and have a negative impact on our business and reputation.

• •Our solutions are highly regulated and the legal and regulatory regimes governing certain of our products and services are uncertain and evolving, which could impede our ability to market and provide our solutions or adversely affect our business, financial position and results of operations.

• •The regulatory regime governing blockchain technologies and digital assets is uncertain, and new laws, regulations or policies, including licensing laws, may alter our business practices with respect to digital assets.

• •There are risks associated with our outstanding and future indebtedness that could adversely affect our financial condition.

Text added vs the prior filing · source: 10-Q · 2026-08-07

• Bryan KoChief Operating Officer, Chief Legal Officer and SecretaryAdoptJune 5, 2026X

• (1) Intended to satisfy the affirmative defense of Rule 10b5-1(c).

• (2) Non-Rule 10b5-1 trading arrangement as defined in Item 408 of Regulation S-K.

• (3) Except as indicated by footnote, each trading arrangement permitted or permits transactions through and including the earlier of (i) the completion of all purchases or sales; (ii) the date listed in the table; or (iii) such date the arrangement is otherwise terminated according to its terms.