gen-20260703

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)


☑			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended July 3, 2026


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from to

Commission File Number 000-17781

Gen Digital Inc.

(Exact name of the registrant as specified in its charter)

Delaware

77-0181864

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

60 E. Rio Salado Parkway,

Suite 1000,

Tempe,

Arizona

85281

(Address of principal executive offices)

(Zip code)

Registrant’s telephone number, including area code:

(650) 527-8000

Former name or former address, if changed since last report:

Not applicable

________________________

Securities registered pursuant to Section 12(b) of the Act:


Title of each class		Trading symbol(s)	Name of each exchange on which registered
Common Stock,	par value $0.01 per share	GEN	The Nasdaq Stock Market LLC
Contingent Value Rights		GENVR	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ

The number of shares of Gen common stock, $0.01 par value per share, outstanding as of August 4, 2026 was 598,587,032 shares.

Table of Contents

GEN DIGITAL INC.

FORM 10-Q

Quarterly Period Ended July 3, 2026

TABLE OF CONTENTS


		Page
PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements (Unaudited)	3
	Condensed Consolidated Balance Sheets	3
	Condensed Consolidated Statements of Operations	4
	Condensed Consolidated Statements of Comprehensive Income (Loss)	5
	Condensed Consolidated Statements of Stockholders’ Equity (Deficit)	6
	Condensed Consolidated Statements of Cash Flows	7
	Notes to Condensed Consolidated Financial Statements	8
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	20
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	27
Item 4.	Controls and Procedures	27
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	29
Item 1A.	Risk Factors	29
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	49
Item 5.	Other Information	49
Item 6.	Exhibits	50
Signatures		51

“Gen,” “we,” “us,” “our,” and “the Company” refer to Gen Digital Inc. and all of its subsidiaries. Gen, Norton, Avast, LifeLock, MoneyLion, Avira, AVG, Reputation Defender, CCleaner and all related trademarks, service marks and trade names are trademarks or registered trademarks of Gen or other respective owners that have granted Gen the right to use such marks. Other names may be trademarks of their respective owners.

Table of Contents

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited)

GEN DIGITAL INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in millions, except par value per share amounts)


	July 3, 2026		April 3, 2026
ASSETS
Current assets:
Cash, cash equivalents and restricted cash	$	564	$	411

Accounts receivable, net	378		361
Other current assets	286		295
Assets held for sale	40		14
Total current assets	1,268		1,081
Property and equipment, net	70		71
Intangible assets, net	2,046		2,096
Goodwill	10,938		10,996
Deferred income tax assets	1,135		1,153
Other long-term assets	187		192
Total assets	$	15,644	$	15,589
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	96	$	96
Accrued compensation and benefits	75		115
Current portion of long-term debt	181		181
Contract liabilities	1,843		1,904
Other current liabilities	527		414
Total current liabilities	2,722		2,710
Long-term debt	7,975		8,015
Long-term contract liabilities	76		73
Deferred income tax liabilities	190		198
Long-term income taxes payable	1,614		1,588
Other long-term liabilities	411		394
Total liabilities	12,988		12,978
Commitments and contingencies (Note 15)
Stockholders’ equity (deficit):
Common stock and additional paid-in capital, $0.01 par value: 3,000 shares authorized; 599 and 598 shares issued and outstanding as of July 3, 2026 and April 3, 2026, respectively	2,354		2,341
Accumulated other comprehensive income (loss)	(7)		1
Retained earnings (accumulated deficit)	309		269
Total stockholders’ equity (deficit)	2,656		2,611
Total liabilities and stockholders’ equity (deficit)	$	15,644	$	15,589

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

GEN DIGITAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in millions, except per share amounts)


	Three Months Ended
	July 3, 2026		July 4, 2025
Net revenues	$	1,336	$	1,257
Cost of revenues	307		267
Gross profit	1,029		990
Operating expenses:
Sales and marketing	300		297
Research and development	118		109
General and administrative	80		74
Amortization of intangible assets	56		54
Restructuring and other costs	32		10
Total operating expenses	586		544
Operating income (loss)	443		446
Interest expense	(124)		(156)
Other income (expense), net	4		10
Income (loss) before income taxes	323		300
Income tax expense (benefit)	108		165
Net income (loss)	$	215	$	135

Net income (loss) per share - basic	$	0.36	$	0.22
Net income (loss) per share - diluted	$	0.36	$	0.22

Weighted-average shares outstanding:
Basic	599		617
Diluted	603		624

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

GEN DIGITAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited, in millions)


	Three Months Ended
	July 3, 2026		July 4, 2025
Net income (loss)	$	215	$	135
Other comprehensive income (loss), net of taxes:
Foreign currency translation gain (loss)	(8)		59


Other comprehensive income (loss), net of taxes	(8)		59
Comprehensive income (loss)	$	207	$	194

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

Table of Contents

GEN DIGITAL INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

(Unaudited, in millions, except share amounts)


Three months ended July 3, 2026	Common Stock and Additional Paid-In Capital			Accumulated Other Comprehensive Income (Loss)		Retained Earnings (Accumulated Deficit)		Total Stockholders’ Equity (Deficit)
	Shares	Amount
Balance as of April 3, 2026	598	$	2,341	$	1	$	269	$	2,611
Net income (loss)	—	—		—		215		215
Other comprehensive income (loss), net of taxes	—	—		(8)		—		(8)
Common stock issued under employee stock incentive plans	7	—		—		—		—
Shares withheld for taxes related to vesting of stock units	(2)	(40)		—		—		(40)
Repurchases of common stock	(4)	—		—		(100)		(100)
Cash dividends declared ($0.125 per share of common stock) and dividend equivalents accrued	—	(1)		—		(75)		(76)
Stock-based compensation	—	54		—		—		54

Balance as of July 3, 2026	599	$	2,354	$	(7)	$	309	$	2,656


Three months ended July 4, 2025	Common Stock and Additional Paid-In Capital			Accumulated Other Comprehensive Income (Loss)		Retained Earnings (Accumulated Deficit)		Total Stockholders’ Equity (Deficit)
	Shares	Amount
Balance as of March 28, 2025	617	$	2,066	$	(33)	$	236	$	2,269
Net income (loss)	—	—		—		135		135
Other comprehensive income (loss), net of taxes	—	—		59		—		59
Common stock issued under employee stock incentive plans	6	—		—		—		—
Shares withheld for taxes related to vesting of stock units	(2)	(44)		—		—		(44)
Repurchases of common stock(1)	(5)	—		—		(134)		(134)
Cash dividends declared ($0.125 per share of common stock) and dividend equivalents accrued	—	(3)		—		(77)		(80)
Stock-based compensation	—	66		—		—