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Wed, Feb. 10, 6:14 PM
- LifeLock (NYSE:LOCK) has used its Q4 report to guide for Q1 revenue of $156M-$158M and EPS of -$0.07 to -$0.08, below a consensus of $159M and $0.03. 2016 guidance is for revenue of $660M-$670M and EPS of $0.71-$0.76, below a consensus of $676.8M and $0.77.
- The company also says it plans to enter into a $50M accelerated buyback agreement, and still expects to finish the $100M buyback program announced in November by the end of 2016.
- Top-line performance/metrics: Q4 results were nearly in-line with the guidance provided in LifeLock's Jan. 20 pre-announcement (was accompanied by news of a CEO change). Consumer revenue rose 21% Y/Y during Q4 to $148.3M; enterprise revenue rose 13% to $6.9M. Gross subscriber adds fell to 296K from Q3's 371K; total members rose by ~200K Q/Q to 4.2M. ARPU rose by $0.29 Q/Q and $0.56 Y/Y to $11.97.
- Financials: GAAP operating expenses rose 14% Y/Y in Q4 to $105.4M. 2015 free cash flow was $89.5M (nearly flat Y/Y). Ahead of the accelerated buyback, LifeLock ended 2015 with $247M in cash and no debt.
- Shares have dropped to $10.90 after hours.
- LifeLock's Q4 results, earnings release
Wed, Feb. 10, 5:40 PM
Wed, Feb. 10, 4:07 PM
Tue, Feb. 9, 5:35 PM
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Mon, Jan. 25, 6:11 PM
- Five days after announcing President Hilary Schneider is replacing Todd Davis as CEO, LifeLock (NYSE:LOCK) states Mike Dean, formerly the head of credit report provider Experian's Consumer Direct unit, has been named chief strategy officer.
- Dean will "oversee the Company's Enterprise Sales & Alliances (ES&A) team, LifeLock enterprise products, and ID Analytics." He'll also lead a search for the successor to ES&A chief Don Beck, who's retiring from his position by year's end.
- In addition, Schwark Satyavolu, LifeLock's EVP of Product & Technology, is leaving in mid-February to become a partner at a VC firm; he'll remain with LifeLock as a strategic advisor. Product/technology SVP and former Yahoo exec Dev Patel will lead LifeLock's consumer product teams.
Wed, Jan. 20, 4:32 PM
- Hilary Schneider, LifeLock's (NYSE:LOCK) President since 2012, will take over as CEO on March 1, and join the board. She'll replace Todd Davis, who will then serve as "executive vice chairman."
- Lead director Roy Guthrie will replace Davis as chairman. The shakeup comes shortly after LifeLock agreed to pay $100M to settle FTC charges the company violated the terms of a 2010 deal.
- LifeLock now expects 2015 revenue of $586M-$587M vs. prior guidance of $584M-$587M and a $584.9M consensus. EPS guidance is now at $0.62-$0.63 vs prior guidance of $0.61-$0.63 and a $0.62 consensus. Free cash flow guidance has been cut to $88M-$89M from $95M-$100M - LifeLock blames $3M in prepaid marketing expenses and a $4M accounts receivable increase.
- Shares have dropped to $13.00 after hours. Q4 results are due after the Feb. 10 close.
Dec. 17, 2015, 12:44 PM
- Six weeks after LifeLock (LOCK -2.3%) announced it had settled with the FTC (and saw its shares soar in response), the agency says the ID-protection services firm will pay $100M to settle charges it violated the terms of a 2010 deal requiring the company to secure customer info and refrain from deceptive advertising.
- $68M of the total "may be used to redress fees paid to LifeLock by class-action consumers who were allegedly injured by the same behavior alleged by the FTC." Any funds not paid to class-action consumers will go to the FTC "for use in further consumer redress."
- In a statement regarding the settlement, LifeLock says its total payout will be $113M after factoring legal/administrative fees. "The allegations raised by the FTC are related to advertisements that we no longer run and policies that are no longer in place. The settlement does not require us to change any of our current products or practices."
- LifeLock had already established $116M in reserves for the FTC dispute. The company had $332M in cash/marketable securities at the end of Q3, and currently sports a $1.3B market cap. Shares are lower on a day the Nasdaq is down 1%.
Nov. 30, 2015, 4:26 PM
Oct. 29, 2015, 12:53 PM
Oct. 29, 2015, 9:13 AM| Oct. 29, 2015, 9:13 AM
Oct. 28, 2015, 7:24 PM
- LifeLock (NYSE:LOCK) uses its Q3 report to state it has "reached agreements with the staff of the Federal Trade Commission and representatives of a national class of consumers on a comprehensive settlement resolving outstanding litigation relating to its past marketing representations and information security programs."
- The company insists the proposed deal doesn't require it to "change our current products, services, or business and information security practices, including in particular, our current marketing and advertising practices." An additional $96M in reserves have been accrued to handle the settlement, bringing their total to $116M. LifeLock plunged in July after the FTC accused it of violating a 2010 deal by "continuing to make deceptive claims about its identity theft protection services, and by failing to take steps required to protect its users’ data."
- Q4 guidance is for revenue of $153M-$155M and EPS of $0.28-$0.30 vs. a consensus of $152.1M and $0.30. Members rose to 4.1M in Q3 from 4M at the end of Q2, with gross member adds totaling 251K (down from 317K in Q2). Average monthly revenue per member rose $0.23 Q/Q and $0.69 Y/Y to $11.91.
- Shares have soared to $13.65 after hours.
- Q3 results, PR
Oct. 28, 2015, 5:44 PM
Oct. 28, 2015, 4:42 PM
- LifeLock (NYSE:LOCK): Q3 EPS of $0.28 beats by $0.03.
- Revenue of $152M (+23.5% Y/Y) beats by $4.64M.
Oct. 27, 2015, 5:35 PM
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Jul. 30, 2015, 9:12 AM
- Gainers: UNXL +33%. UNIS +22%. MEET +18%. GEVO +17%. SHOP +15%. OTEX +15%. WWE +15%. SGYP +13%. SKX +12%. MWW +9%. HBP +8%. HOLX +8%. WDC +8%. APD +6%.
- Losers: PRSN -35%. LNCO -21%. LINE -19%. FMI -18%. SSYS -18%. ITG -14%. FOE -13%. WFM -12%. QRVO -12%. OSK -11%. LOCK -11%. DDD -9%. MNKD -7%. NCR -6%. GNCA -6%. FMS -5%. MPC -5%. CROX -5%.
Jul. 29, 2015, 5:08 PM
- "While we are still early in the process, our updated guidance assumes that the publicity from the lawsuit with the FTC will cause an increase in attrition and headwind to our new member acquisition on a short-term basis," says CFO Chris Power in LifeLock's (NYSE:LOCK) Q2 report.
- Guidance: The ID theft-protection services firm expects Q3 revenue of $147M-$149M and EPS of $0.25-$0.26 vs. a consensus of $150.2M and $0.24. Full-year guidance is for revenue of $577M-$582M and EPS of $0.58-$0.61, below a consensus of $585.3M and $0.64. 2015 free cash flow guidance has been cut by $5M to $100M-$105M.
- Key numbers: Q2 consumer revenue rose 27% Y/Y to $138.3M, and enterprise revenue 4% to $6.6M. 371K gross subscriber adds were recorded vs. 421K in Q1, and the base rose by 110K Q/Q to 4M. Retention rate was 87.1% vs. 87.8% in Q1; ARPU rose to $11.68 from $11.38 in Q1 and $10.99 a year ago. GAAP costs/expenses rose 23% Y/Y to $109.2M.
- Shares have fallen to $8.00 AH. They're down 50% from where they closed the day before the FTC announced its suit.
- Q2 results, PR
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