cybersecurity
Published on : Nov 10, 2023
Trend Micro Incorporated, a global cybersecurity leader, today announced earnings results for the third quarter of fiscal year 2023, ending September 30, 2023 by reporting 13% year-over-year (YoY) growth.
Trend empowers over 500,000 enterprise organizations and over 17 million consumer customers across more than 175 countries to thrive in a world with less cyber risk.
For this quarter, global customer demand drove platform expansion by 20% YoY in enterprise annual recurring revenue (ARR) totaling more than US$745 million. The company grew its protection of 74 million+ enterprise assets at a growth rate of 22% YoY through the combination of its platform telemetry, powerful generative AI engine and unmatched threat intelligence.
"Amidst the dynamic cybersecurity landscape, we proudly marked our 100th consecutive quarter of profitability, a milestone rarely achieved in the public market and one we attribute to our customers' embrace of innovations," said Trend Micro CEO and co-founder Eva Chen. "We are relentlessly focused on delivering customers a platform to increase risk visibility and decrease complexity of their security stack, while we are simultaneously advancing our corporate balance of growth and profitability."
That operational rigor delivered Q3 free cash flow from operations that grew 30% YoY, the application of which will propel business modernization and enable additional shareholder returns. Trend also disclosed plans for a powerful combination of special dividends and an increase in share buyback, which will be further disclosed at its upcoming investor day.
Trend will host its investor day at 10:00 a.m. (GMT+9) on Thursday, December 1, 2023, as a hybrid event format for invited investors.
For this quarter, Trend Micro posted consolidated net sales of US$443 million (144.80 JPY =1USD). The company posted operating income of US$ 78 million and net income attributable to owners of the parent of US$ 6 million for the quarter.
The company will not revise expected consolidated results for the full fiscal year ending December 31, 2023 (released on February 16, 2023). Based on information currently available to the company as of November 9, 2023, consolidated net sales for the year ending December 31, 2023, is expected to be US$1,840 million (based on an exchange rate of 135 JPY = 1 USD.) Operating income and net income are expected to be US$257 million and US$125 million, respectively.
Key business updates in Q3 2023
Innovative: Trend nurtures a culture of innovation to drive advancements across its cybersecurity platform.
Trusted: Trend is a trusted partner to the customers and communities that it serves.
Global: Trend has the most geographically diverse customer base in the industry, with millions of sensors powering the Trend Vision One platform for superior attack surface risk management.
Trend Micro was awarded the following patents in Q3 2023:
Patent No. |
Issue Date |
Title
|
11706253 |
July 18, 2023 |
Semi-automatic rule generator |
11706222 |
July 18, 2023 |
Systems and methods for facilitating malicious site |
11714891 |
August 1, 2023 |
Frictionless authentication for logging on a |
11736498 |
August 22, 2023 |
Stateful detection of cyberattacks |
11757816 |
September 12, |
Systems and methods for detecting scam |
1 Named in The Forrester report, The Cloud Workload Security Landscape, Q3 2023 |