Business Description

NortonLifeLock, Inc. provides security, storage, system management, and other services. The company is divided into two segments: Enterprise Security and Consumer Digital Safety. Enterprise Security focuses on providing solutions that protect organizations to allow them to securely do business and take advantage of new technologies and data.

The Consumer Digital Safety segment offers solutions for protecting information, devices, networks, and identities. Gary Hendrix founded the company in Tempe, Arizona in April 1982.
Symantec Corp. announced in May 2020 that it had sold its Enterprise Security Assets to Broadcom. The sale was completed for $10.7 billion. NortonLifeLock, formerly Symantec, has purchased German antivirus maker Avira in a $360m all-cash deal from Bahrain-based company Investcorp Technology Partners.

Key Financials

Revenue (US$ Mn)

• US$ 2,551 Mn was the annual revenue generated by NortonLifeLock, Inc. in 2021
• NortonLifeLock, Inc.’s annual revenue for 2020 was US$ 2,490 Mn, a -47.37% decrease from 2019
• From 2018’s annual revenues, NortonLifeLock, Inc. registered a -2.13% decrease in 2019, amounting to US$ 4,731 Mn
• Total revenue of US$ 4,834 Mn was generated in 2018 by NortonLifeLock, Inc.

Operating Income (US$ Mn)

• NortonLifeLock, Inc.’s operating income for 2021 was US$ 896 Mn, a 152.39% increase from the 2020
• The operating income generated by NortonLifeLock, Inc. in 2020 was US$ 355 Mn
• At a 675.51% increase from , NortonLifeLock, Inc.’s operating income of US$ 380 Mn was indexed in 2019
• NortonLifeLock, Inc. generated an operating income of US$ 49 Mn in 2018

Net Income (US$ Mn)

• NortonLifeLock, Inc.’s net income for 2021 was US$ 554 Mn, a -85.75% decrease from 2020
• The net income generated by NortonLifeLock, Inc. in 2020 was US$ 3,887 Mn
• At a -97.28% decrease from , NortonLifeLock, Inc.’s net income of US$ 31 Mn was indexed in 2019
• NortonLifeLock, Inc. generated a net income of US$ 1,138 Mn in 2018

Operating Margin %

• NortonLifeLock, Inc.’s operating margin for 2021 was 35%, a 150.71% increase from 2020
• The operating margin generated by NortonLifeLock, Inc. in 2020 was 14%
• At a 700% increase from , NortonLifeLock, Inc.’s operating margin of 8% was indexed in 2019
• NortonLifeLock, Inc. generated an operating margin of 1% in 2018

Gross Margin %

• 3% was the gross margin generated by NortonLifeLock, Inc. in 2021
• NortonLifeLock, Inc.’s gross margin for 2020 was 3%, an 88.24% increase from 2019
• From 2018’s gross margins, NortonLifeLock, Inc. registered a 6.25% increase in 2019, amounting to 2%
• A gross margin of 2% was generated in 2018 by NortonLifeLock, Inc.

SWOT Analysis

Strengths

Strong research and development capabilities strengthen competitiveness

The company places a strong emphasis on research and development (R&D). NortonLifeLock has a global R&D strategy that drives organic innovation. NortonLifeLock has a global R&D team that is constantly developing new products to support its cybersecurity leadership. The company’s focus is on applied research projects of all lengths, with the aim to transfer completed innovations into product groups for commercialization. Security Technology and Response is the company’s global team of threat analysts, security engineers, and researchers.

They provide support, content, and functionality for many of its enterprise, small business, and consumer security products. Over the years, NortonLifeLock has made consistent investments in R&D. In FY2020, the company incurred R&D costs of US$328 million. In FY2020, 13.2% of revenue was accounted for by R&D. The company also has a strong patent portfolio. NortonLifeLock held more than 1,000 patents at the end of FY2020. There were also foreign patents and pending US or foreign applications. NortonLifeLock’s focus on R&D allows it to launch innovative products, which helps the company continue its growth.

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