Trend Micro Reports Consistent Earnings Results for Q1 2023
- Trend Micro reports 16% net sales growth in Q1 2023
- Enterprise ARR increases by 25% to over $692 million
- Company protects over 68 million enterprise assets, a YoY growth of 29%
- Consolidated net sales for the full fiscal year expected to be $1,840 million
- None.
- Increase of
16% net sales growth at actual currency across all regions and product segments - Increase of
25% in enterprise annual recurring revenue (ARR) totaling more than US$692 million - Increase of
10% to over 431,000 active subscription customers protecting over 68M assets - Increase of
29% year-over-year (YoY) totaling over 68M enterprise assets protected
Trend Micro's business resilience continues to be achieved by diversifying between both enterprise and consumer customers spanning more geographies than any pure play cybersecurity company. With a singular focus on cybersecurity, these results were powered by a customer base of over 500,000 organizations across more than 175 countries.
As the growth engine for the company, the enterprise customer segment grew
As the value engine for the company, Trend continued to invest in its consumer business growing across all geographies at
"We too see the economy impacting markets and expect this to continue for the remainder of the year despite cybersecurity being identified as a critical priority," said Trend Micro CEO and co-founder Eva Chen. "Organizations worldwide are tightening budgets and prioritizing vendors who understand and ease the pressures of the security operations center. We proudly empower every organization to thrive in a world with less risk."
For this quarter, Trend Micro posted consolidated net sales of
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, consolidated net sales for the year ending December 31, 2023 is expected to be
Key business updates in Q1 2023
Innovative: Trend nurtures a culture of innovation to drive advancements across its cybersecurity platform.
- Acquired SOC experts Anlyz to extend its orchestration, automation and integration capabilities for the Trend Vision One platform and empower Managed Security Service Providers to improve operational efficiencies, cost effectiveness and security outcomes.
- Launched a new incubation project as a subsidiary of Trend Micro, focused on combating emerging threats in the private 5G networks.
Trusted: Trend is a trusted partner to the customers and communities that it serves.
- Disclosed newest ransomware survey that revealed how decision makers can leverage operational changes to collectively help drive down ransomware profitability.
- Announced that the Trend Micro Zero Day Initiative's (ZDI's) Pwn2Own bug bounty competition will add a contest to secure connected vehicle ecosystems.
- Conducted two Pwn2Own competitions in Q1 which collectively awarded over US
$1 Million
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.
- Released a global study revealing that while global organizations plan to increase cybersecurity budgets in 2023, while business leaders hold conflicting views on functions.
- Established a new research and development center in
Bangalore, India , with more than 40 technical employees, expanding its worldwide engineering team of over 3000.
New Patents Filed
Trend Micro was awarded the following patents in Q1 2023:
Patent No | Issue Date | Title |
11568301 | 01/31/2023 | Context-Aware Machine Learning System |
11574053 | 02/07/2023 | System and Method for Detecting Malicious Scripts |
11558375 | 01/17/2023 | Password protection with independent virtual |
11574058 | 02/07/2023 | Malicious Code Scanning of Remotely-Located |
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 Trend Micro
Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro's cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, the platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 65 countries, Trend Micro enables organizations to simplify and secure their connected world. www.trendmicro.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/trend-micro-reports-consistent-earnings-results-for-q1-2023-301821837.html
SOURCE Trend Micro Incorporated
FAQ
What is the net sales growth reported by Trend Micro in Q1 2023?
What is the increase in enterprise ARR?
How many enterprise assets does Trend Micro protect?
What are the expected consolidated net sales for the full fiscal year?
