Gen Digital Inc.

present any background noise. After the speaker's remarks, there will be a... Along with our slides and press release.

I'd like to remind everyone that during this call, all references to the financial metrics are non-GAAP, and all growth rates are year-over-year, unless otherwise stated. A reconciliation of non-GAAP to GAAP measures is included in our press release and earnings presentation, both of which are available on our IR website at investor.gendigital.com. We encourage investors to monitor this website as we routinely post investor-oriented information, such as news and events and financial filings. Today's call contains statements regarding our business, financial performance and operations, including the impact of our business and industry that may be considered forward-looking statements, and such statements involve risks and uncertainties that may cause actual results to differ materially from our current expectations. Those statements are based on current beliefs, assumptions, and expectations as of today's date, January 30th, 2025. We undertake no obligations to update these statements as a result of new information or future events. For more information, please refer to the cautionary statement in our press release and the risk factors in our filings with the SEC, and in particular, our most recent reports on Form 10-K and Form 10-Q. And now, I will turn the call over to Vincent.

Thanks, Jason, and welcome everyone to our earnings call. Q3 was another quarter of solid execution. innovating on the most comprehensive cyber safety portfolio for consumers while delivering profitable growth. We grew cyber safety bookings and revenue mid-single digits and delivered our fifth consecutive quarter of double-digit growth for EPS up 15%. Our direct customer base is at the record $40 million, up nearly $400,000 sequentially and up over $1 million compared to last year. These solid results are a testament to the consistent and disciplined execution by our team to serve the needs for comprehensive cyber safety. You've heard me tell you every quarter now about the dynamic nature of the threat landscape, and that continues to be the case. In calendar year 2024 alone, we blocked nearly 15 billion attacks globally. Not only are people all over the world being exposed to a greater number of threats, scams, and other risks to their digital lives, but these threats are getting harder to detect as bad actors deployed increasingly sophisticated techniques and more believable lures to compromise and exploit their victims. Our researchers estimate that today 90% of all cyber threats began with a scam, up from just 30% in 2020. As technology rapidly evolves and consumers' digital footprint expands, the proliferation of breach just keeps adding fuel to the fire. In addition to the large-scale breaches, like the national public data breach last quarter, recent ones are putting not only individuals at risk, but entire families, as we saw with the power school breach. This means that threat actors have no shortage of information available to use to convince you to help them attack you and your asset. We have seen this trend accelerate this quarter with the dramatic rise in scam yourself attacks, which manipulate people into compromising their own devices through deceptive and routine-based means. We saw this coming, and we launched Northern Genie just over a year ago to give consumers an easy-to-use tool to help detect scams coming to you via email, text, video files, or websites. Our proprietary AI engine continuously trains on the extensive data sets and real-life scans submitted by our users, catching the newest threats with almost 100% efficacy. With 2 million downloads of the product, Genius AI Engine can not only understand the meaning and intent of text, but also scans a wide range of additional attachment files, URLs, images, and even audio and video files. And we aren't stopping there. will soon be extending the power of Genie into our Nolan 360 product family. This enhanced version of Genie will be available in all memberships, seamlessly providing proactive and comprehensive scam protection and acting as your AI-powered scam assistant. The Pro version provides advanced features including call blocking, text filtering, and scam reimbursement and will be included in the higher membership tiers that customers can upgrade to or available as an add-on for the remaining customer base. Beyond our own AI investments to address this growing threat, we recently teamed up with Qualcomm at CES to showcase an early preview of how AI-powered scan detection can be integrated into neural processing units, or NPUs, embedded into smartphones. By leveraging the NPU speed and efficiency, We're able to detect deep fakes and other sophisticated threats on the device in mere seconds while keeping user data private. A lot of exciting developments with more to come. In this dynamic digital world, we continue to invest in and innovate around how we keep customers' devices, personal information, reputations, and financial assets safe. Our security foundation stays at the forefront with advanced protection recently earning top accolades from AV tests, AV comparatives, and AV labs. And our products provide solutions for evolving consumer needs, not only securing customers against cyber threats, but also protecting their identity and finances, empowering them to manage and grow their finances, and safeguarding their personal data. Earlier this month, we brought to the protection of Avast's security identity to 15 new countries, which helps consumers keep their identity safe from escalating scam and identity theft risks. Avast Secure Identity continuously scours across private forums and the dark web, identifying and notifying you if we detect your personal information. It also gives consumers additional features like restoration support, stolen wallet assistance, and in selected markets, identity theft insurance. We've also embedded financial monitoring features to help alert consumers to suspicious bank account transactions that may indicate fraud. Although we only launched it a few weeks ago, we've already seen strong interest and engagement from our Avast customer base, affirming our belief in the need for these types of solutions and the growth opportunity ahead with identity and financial wellness across our entire family of trusted brands. In Japan, one of our largest international markets, we also rolled out a pilot digital vault with ID Advisor Plus. With ID Vault, we automatically detect sensitive identity information on users' phone and move it to a secure cloud vault for added protection. And we don't stop there. With ID Advisor Plus, we also include access to scam verification specialists and a privacy advisor to on-demand services that are available to consumers in their time of need. As we drive engagement and early feedback through this offering, we plan to expand our digital vault technology across our portfolio in the coming quarters to give our customers more control over when and where to share their data. I'm also proud to share that all of these new launches have been built on the new GenStack, which our team has been hard at work on since the Avast acquisition closed. We set on the foundational technical initiative to build the new best-in-class cyber safety infrastructure. With the brightest minds from both teams, we've created our next-gen tech stack that enables us to provide strong protection, a more modern user interface, and a more personalized experience for our customers. The GenStack enables us to deliver a unified data set that makes our AI-enhanced solution more relevant for our customers, given our extensive threat telemetry and behavioral data. With the scale of our cyber safety networks, which protects hundreds of millions of users, we have exceptional visibility into the threat landscape. The massive amount of data that comes from all of this enables us to further train our machine learning models and harness the power of AI, driving additional improvement in the efficacy rates of our award-winning rates of threat protection, making current and future customers inherently safer with GEN. The technical benefits are unquestionable, but it does something equally, if not more important, for our customers. The next-gen stack allows us to begin delivering on a reimagined user-centric experience. With a more intuitive, simpler, and fully integrated experience, our customer can use more of the tools we have available to protect their digital lives. It also allows us to more smartly advise and offer products and services that match their actual needs to enhance an un-intrusive in-product contextual messaging. Our extensive machine learning models helps us bring the right cross-sell and up-sell campaigns to the right people at the right time, which helps us better protect them, and as a result, improve customer loyalty. We've already started expanding this technology into our customer success function with advanced machine learning models and data-driven communications to personalize our engagement with customers. All of these new products and capabilities are enabling us to deliver on our plan to expand our cyber safety platform which already protects hundreds of millions of users and over 65 million paid customers. These customers all benefit from the most comprehensive features and best technology in the market backed by one of the world's largest consumer cyber safety networks protecting people around the globe against advanced online threats. Further building on our foundation in cyber safety, in December, we announced the acquisition of MoneyLion in order to strengthen and accelerate our financial wellness offerings. This transaction enables us to offer a complete set of personal financial management tools, enhances our AI and personalization capabilities, diversify our customer base with consumers in earlier stages of their financial lives, more than double our addressable market to over $50 billion, and finally reinforces our long-term financial model. We've started to address our customers' demand for more credit and financial insight, but this acquisition will open up and accelerate new opportunities for GEN and our customer base. While we can't provide additional commentary about this transaction until it closes in the first half of fiscal year 26, we will continue our effort to build out our financial wellness offering through organic and inorganic investments that can enhance the capabilities Gen and Moneyline have today. In summary, we see a long runway of opportunities fueled by the very real and expanding consumer needs to protect their data and assets. We have the best fiber safety foundation in place that inspires customer trust, confidence, and loyalty. Our Q3 results demonstrate that we are executing to our plan to accelerate revenue and drive double-digit EPS growth. With our pending acquisition of Money Lion, we're excited for the next phase of our strategy to deliver and empower our customers with digital trust services, such as financial wellness, to further accelerate our growth while operating with the same consistent and disciplined execution you've come to expect from our team. And I think we're just getting started. So with that, let me pass it to Natalie to review our Q3 performance in detail.