Trend Micro Reports Earnings Results for Q1 2024
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Increase of 51% in platform connected annual recurring revenue (ARR) contributing 37% of total enterprise ARR, now exceeding US
$1.24 Billion - Increase of 27% in operating income to drive 18% operating margin
- Increase of 12% globally in net sales growth at actual currency
Success for the quarter was propelled by consolidation on Trend's AI-driven cybersecurity platform. It drove a record 51% YoY growth in platform-connected ARR, representing 37% of overall enterprise ARR, which now exceeds
Exceptional demand for this next-gen cybersecurity platform realized a 27% increase YoY in security operations center (SOC)-related ARR, signaling the immense value that resource-constrained security teams gain from enterprise-wide contextualized visibility and streamlined cyber risk management.
The unceasing commitment to increase operational efficiency delivered a 27% increase in operating income this quarter, resulting in an 18% operating margin. This was achieved through a combination of efficiency drivers including AI tools implementation and a meticulous focus on advancing top & bottom-line growth.
In Q1 2024, organizations increasingly turned to Trend for the combination of its broad platform telemetry and unmatched threat intelligence, resulting in a 15% growth of protected enterprise assets now totaling more than 79 million.
For this quarter,
The company does not revise expected consolidated results for the full fiscal year ending
Key business updates in Q1 2024
Innovative: Trend nurtures a culture of innovation to drive advancements across its cybersecurity platform.
- For the 18th consecutive year,
Trend Micro was named a leader in the Gartner Magic Quadrant for Endpoint Protection Platforms1 -
Trend Micro's Zero Day Initiative and Trend subsidiary VicOne, a leading provider of automotive cybersecurity, hosted the first hackathon to uncover cyber vulnerabilities in connected vehicles, discovering 49 unique bugs -
Trend Micro's Zero Day Initiative discovered a Microsoft Windows Defender vulnerability being actively exploited and affecting millions of users; Trend customers were automatically protected a month in advance - Trend extended the industry's broadest cybersecurity platform with the addition of 5G security capabilities, working with Trend subsidiary CTOne, to protect the ever-expanding enterprise attack surface
Trusted: Trend is a trusted partner to the customers and communities that it serves.
- Recognized for its channel-first strategy and named a Champion in the Canalys Global Cybersecurity Leadership Matrix 2023, ranking #1 amongst all vendors evaluated
- Achieved high scores across all four categories in the Gartner Critical Capabilities Report for Endpoint Protection Platforms2
- Revealed that over 160 billion threats were blocked in 2023, a 10% annual increase as cyber threats surge
Global: Trend has the most geographically diverse customers in the industry, with millions of sensors powering the Trend Vision One™ platform for superior attack surface risk management.
- Named a worldwide leader in the IDC Marketscape for Modern Endpoint Security for Enterprises3 attributable to the company's extensive set of capabilities
- Accelerated security amidst AI-driven threats and opportunities through the world's largest cybersecurity roadshow, touring hundreds of global cities
- Partnered with global law enforcement to disrupt top ransomware group LockBit's next malware product release and deliver early protection to customers
Patent No. |
Issue Date |
Title
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11882148 |
|
Automated mitigation of cyber threats using a semantic cybersecurity database |
11886586 |
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Malware families identification based upon hierarchical clustering |
11902280 |
|
Internet access control based on external third-party data |
11907368 |
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Graph-based anomaly detection for cybersecurity |
11934346 |
|
Random access of a member file in a compressed tar archive |
Notice Regarding Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements. Forward-looking statements are sometimes accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on our current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
About
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1 Gartner, Magic Quadrant for Endpoint Protection Platforms, by Evgeny Mirolyubov,
2Gartner, Critical Capabilities for Endpoint Protection Platforms, by Franz Hinner, Nikul Patel, Evgeny Mirolyubov, Max Taggett, Satarupa Patnaik, 31st December 2023
3 IDC MarketScape: Worldwide Modern Endpoint Security for Enterprises 2024 Vendor Assessment (Doc :# US50521223,
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