Revenue

FY 2026

$4.7B to $4.8B " "

$4.8B to $4.9B " "

raised

Non-GAAP EPS

FY 2026

$2.46 to $2.54 "

$2.49 to $2.56 " "

raised

Non-GAAP Revenue

Q2 2026

no prior guidance

$1.18B to $1.21B "

no prior guidance

Non-GAAP EPS

Q2 2026

no prior guidance

$0.60 to $0.62 "

no prior guidance

MoneyLion Integration and Acquisition

Q3 2025 detailed the acquisition announcement, strategic rationale and initial integration plans. " " " Q4 2025 expanded on integration progress with operational synergies and embedding MoneyLion capabilities into products. " " "

Q1 2026 emphasized significant progress in integrating MoneyLion’s core infrastructure, highlighted strong revenue growth, and introduced a clear plan to transition its business model to a subscription-based model. " " " "

Increased focus on execution and a strategic shift toward subscription revenue, reflecting accelerated integration and enhanced monetization opportunities.

Membership Model Transformation and Recurring Revenue Shift

Q3 2025 discussed transitioning customers to a membership structure with detailed mobile and desktop adoption metrics. " " " Q4 2025 described recurring revenue strength and membership adoption indirectly with improved cross-sell metrics. " " "

Q1 2026 explicitly addressed transforming MoneyLion’s business model with an 80% recurring revenue base, emphasizing long-term customer value and a comprehensive membership journey. " "

Growing emphasis on shifting to a membership-based model with a focus on long-term customer retention and ARPU growth.

Cross-Sell and Upsell Opportunities

Q3 2025 focused on the Norton cross-sell program, mobile adoption of Norton 360, and incremental ARPU improvements. " " " Q4 2025 highlighted mobile upsell, cross-sell achievements in the Norton base, and MoneyLion integration as enhancing opportunities. " " "

Q1 2026 extensively discussed leveraging the enhanced product portfolio and MoneyLion’s integration to drive cross-sell and upsell opportunities across Cyber Safety and financial wellness segments. " " " "

Consistent and growing focus on using cross-sell and upsell strategies to boost ARPU and retention, bolstered by new integration efforts.

ARPU Growth and Pricing Uncertainty

Q3 2025 and Q4 2025 provided detailed ARPU figures, modest growth numbers, and noted minor FX headwind impacts. " " "

Q1 2026 outlined a strategy focused on launching standalone products and membership upsell initiatives to drive ARPU, with little emphasis on pricing uncertainty beyond acknowledging FX influences. "

Steady, modest ARPU growth with continued management of FX effects; strategy remains consistent with a push for upselling innovations.

Cyber Safety Performance (Margins vs. Bookings Dynamics)

Q3 2025 noted operating margins of around 58.5% and robust booking growth with consistent sequential gains. " Q4 2025 reported similarly strong margins and year-over-year booking increases, highlighting stable growth. " " "

Q1 2026 reported an 11% revenue growth for Cyber Safety with margins of 61% and continued mid-single-digit bookings growth, demonstrating strong efficiency and cross-selling benefits. " " " "

Stable performance with continuous improvement in margins and bookings, reflecting effective operational discipline and product innovation.

Operating Margins and Ecosystem Synergies

Q3 2025 described efficient operating margins around 58.5% and outlined early ecosystem synergies from the pending MoneyLion deal. " Q4 2025 provided detailed margin figures for both Cyber Safety and trust-based segments while discussing integration synergies. " " " "

Q1 2026 disclosed overall non-GAAP operating margins of 52%, with segment margins of 61% for Cyber Safety and impressive MoneyLion operating performance, while emphasizing enhanced cross-selling and ecosystem benefits. " " " " "

Consistent margin discipline paired with increasingly robust ecosystem synergies as MoneyLion integration deepens, further powering cross-selling and innovation.

Macroeconomic and FX Volatility Risks

Q3 2025 briefly mentioned minor FX impacts (approximately $0.01 on ARPU) with minimal broader discussion. " " Q4 2025 provided a more detailed analysis with explicit FX headwind figures and reiterated resilience amid macro uncertainties. " " " "

Q1 2026 acknowledged continued macroeconomic uncertainty and FX volatility while stressing business resilience and a cautious Q2 guidance based on current FX rates. " "

An evolving focus on managing FX volatility and macro uncertainty, with an increasingly transparent discussion of risk factors and resilient business fundamentals.

Digital Marketing Disruption (Google AI Impact)

Q4 2025 addressed potential digital marketing disruptions from Google AI, noting a diversified market approach and contextual marketing strategies. " Q3 2025 did not mention this topic.

Q1 2026 did not mention digital marketing disruption, indicating an absence of current concerns about Google AI impact on their SEO strategy [N/A].

Topic de-emphasized in the current period, suggesting that earlier concerns or uncertainties regarding digital marketing disruption are now deprioritized or resolved.

Customer Retention Challenges in Mobile/International Segments

Q3 2025 discussed challenges in retention for mobile and international segments, noting lower retention among mobile year‑1 customers and different unit economics overseas. " " Q4 2025 mentioned robust overall retention and incremental international customer base growth. "

Q1 2026 did not indicate any customer retention challenges in mobile or international segments, highlighting a focus on growth and strong retention rates across the board [N/A].

Improvement and resolution of earlier retention challenges, with current communications focusing solely on positive growth and stability in these segments.

Indirect Channel and Partnership Momentum

Q3 2025 detailed partner revenue growth, employee benefits channel gains, and international partnership enhancements. " Q4 2025 demonstrated solid partner channel contributions with double-digit growth in specific channels like telcos and employee benefits. "

Q1 2026 reported a marked acceleration in partner channel growth—with a 68% reported and 38% pro forma increase—and highlighted expanded international deals and strategic partnerships. "

Continued and even accelerated expansion in indirect channels and partnerships, reflecting sustained momentum and strategic investments in channels.

Capital Allocation and Shareholder Returns Concerns

Q3 2025 outlined a balanced approach between debt reduction, share buybacks, and dividends, with a temporary pause due to the pending acquisition. " " Q4 2025 reiterated a balanced capital allocation strategy that had been momentarily paused for acquisition activities. " "

Q1 2026 showcased a balanced capital allocation strategy with active share repurchases, debt paydowns, and continued dividend payments, confirming a return to planned shareholder return initiatives post-acquisition activity. " "

Consistent commitment to balanced capital allocation; after temporary pauses due to acquisition activities, the focus has realigned on disciplined debt reduction and shareholder returns.

AI-Driven Personalization and Gen Stack Deployment

Q3 2025 discussed the early phases of Gen Stack migration and initial steps in deploying AI for personalized customer experiences. " " Q4 2025 highlighted enhancements in AI-driven threat detection and ongoing technology migration improvements in Norton 360. "

Q1 2026 emphasized significant progress with AI-driven personalization initiatives including an automated AI-powered renewal engine and the launch of AI-native products like Norton NEO, alongside continued migration of all products to the Gen Stack. " "

Rapid acceleration of AI initiatives with a more mature and integrated Gen Stack deployment, indicating a strong commitment to leveraging AI for customer personalization and operational efficiency.