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Verisign(VRSN) - 2022 Q2 - Quarterly Report
2022-07-27 16:00
OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 Registrant's telephone number, including area code: (703) 948-3200 Securities registered pursuant to Section 12(b) of the Act: | T ...
Verisign(VRSN) - 2022 Q1 - Earnings Call Presentation
2022-04-29 15:35
Q1 2022 Earnings Conference Call April 28, 2022 Safe Harbor Disclosure Statements in this presentation other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding (i) Q1 2022 renewal rate expectations, (ii) Domain Name Base increase expectations, and (iii) our full year 2022 financial guidance f ...
Verisign(VRSN) - 2022 Q1 - Earnings Call Transcript
2022-04-29 01:08
Financial Data and Key Metrics Changes - Revenues grew by 7.2% year-over-year, reaching $347 million for Q1 2022 [10][18] - Earnings per share (EPS) increased by 7.5% year-over-year, totaling $1.43 for Q1 2022 compared to $1.33 in Q1 2021 [10][20] - Operating income rose to $225 million, up 6.8% from $210 million in the same quarter a year ago [18] - Operating margin was 64.8%, slightly down from 65% in the same quarter last year [20] - Net income for the quarter was $158 million, compared to $150 million a year earlier [20] - Operating cash flow was $207 million, and free cash flow was $200 million, compared to $198 million and $192 million respectively for Q1 2021 [21] Business Line Data and Key Metrics Changes - The domain name base for .com and .net totaled 174.7 million, with .com at 161.3 million and .net at 13.4 million, reflecting a year-over-year growth rate of 4% [10][11] - New registrations processed in Q1 were 10.2 million, down from 11.6 million in Q1 2021 [11][39] - The renewal rate for Q1 2022 is expected to be approximately 75.9%, compared to 76% in Q1 2021 [12] Market Data and Key Metrics Changes - The company expects domain name base growth for 2022 to be between 1.75% and 3.5%, reflecting current trends [14][21] - Growth in the domain name base was primarily driven by the US, EMEA, and Asia Pacific regions [38] Company Strategy and Development Direction - The company remains focused on operating, protecting, and enhancing critical internet infrastructure [9] - Continued investments in personnel and infrastructure are planned to support growth [19] - The company is monitoring the process regarding becoming the .web registry operator, with no new updates available [16][48] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of global macroeconomic factors and the subsiding demand from pandemic-related growth on new registrations [13][30] - The company is studying the geopolitical environment's impact on business but has not made specific assumptions for the forecast [41] Other Important Information - The company has $1.2 billion in cash, cash equivalents, and marketable securities at the end of the quarter [14] - Share repurchases totaled $196 million for 895,000 shares, with $893 million remaining under the current repurchase program [14][15] Q&A Session Summary Question: Insights on Q1 performance and adjustments made - Management noted that various factors influenced the changes, including subsiding pandemic-related growth and global macroeconomic conditions [30][32] Question: Geographic impact of the war on business - Revenue from Russia, Ukraine, and Belarus is not material, but growth was primarily seen in the US, EMEA, and Asia Pacific regions [34][38] Question: Assumptions regarding geopolitical environment in forecasts - Management stated it is too early to make specific assumptions but acknowledged uncertainty in guidance [41] Question: Preparedness for cyber threats - The company has made significant investments in cybersecurity and continues to monitor the threat environment closely [44][46] Question: Update on .web registry status - Management confirmed no new information beyond what is publicly available from ICANN [48] Question: Components driving SG&A expenses - Increased labor costs and investments in cybersecurity and infrastructure were the main drivers of higher expenses [49]
Verisign(VRSN) - 2022 Q1 - Quarterly Report
2022-04-27 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-23593 VERISIGN, INC. (Exact name of registrant as specified in its ...
Verisign(VRSN) - 2021 Q4 - Annual Report
2022-02-17 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ———————— FORM 10-K Delaware 94-3221585 (State or other jurisdiction of incorporation or organization) (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-23593 ———————— VERISIG ...
Verisign(VRSN) - 2021 Q4 - Earnings Call Presentation
2022-02-10 23:32
Verisign Q4 & Full Year 2021 Earnings Conference Call February 10, 2022 Safe Harbor Disclosure Statements in this presentation other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding (i) Q4 2021 renewal rate expectations, (ii) Domain Name Base increase expectations, and (iii) our full year 2 ...
Verisign(VRSN) - 2021 Q4 - Earnings Call Transcript
2022-02-10 23:30
VeriSign, Inc. (NASDAQ:VRSN) Q4 2021 Earnings Conference Call February 10, 2022 4:30 PM ET Company Participants David Atchley - Vice President, Investor Relations, and Corporate Treasurer Jim Bidzos - Executive Chairman and Chief Executive Officer Todd Strubbe - President and Chief Operating Officer George Kilguss - Executive Vice President and Chief Financial Officer Conference Call Participants Sterling Auty - JPMorgan Rob Oliver - Robert W. Baird Operator Good day, everyone, and welcome to VeriSign's Fou ...
Verisign(VRSN) - 2021 Q3 - Earnings Call Presentation
2021-10-29 18:23
Verisign Q3 2021 Earnings Conference Call October 28, 2021 Safe Harbor Disclosure Statements in this presentation other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding (i) Q3 2021 renewal rate expectations, (ii) Domain Name Base increase expectations, and (iii) our full year 2021 financial ...
Verisign(VRSN) - 2021 Q3 - Earnings Call Transcript
2021-10-29 02:27
VeriSign, Inc. (NASDAQ:VRSN) Q1 2022 Earnings Conference Call October 28, 2021 4:30 PM ET Company Participants David Atchley - VP, IR, Corporate Treasurer Jim Bidzos - Chairman & CEO George Kilguss - CFO Conference Call Participants Rob Oliver - Robert W. Baird Nick Jones - Citi Sterling Auty - JPMorgan Operator Good day, everyone. Welcome to the VeriSign's Third Quarter 2021 Earnings Call. Today's conference is being recorded. Recording of this call is not permitted unless preauthorized. Thank you. At this ...
Verisign(VRSN) - 2021 Q3 - Quarterly Report
2021-10-27 16:00
Revenue and Registrations - For the three and nine months ended September 30, 2021, the company recorded revenues of $334.2 million and $987.3 million, representing increases of 5% and 4% compared to the same periods in 2020[46]. - The company had 172.1 million .com and .net registrations as of September 30, 2021, a 5% increase from 163.7 million registrations on September 30, 2020[53]. - Total revenues for the three months ended September 30, 2021, were $334,242,000, representing a 5% increase compared to $317,879,000 in the same period of 2020[57]. - U.S. revenues increased by 6% to $214,352,000 for the three months ended September 30, 2021, while revenues from China decreased by 10% to $24,607,000[57]. - The company expects quarterly revenues to continue to grow in the fourth quarter of 2021 due to the increase in .com domain names and the recent price increase[55]. Operating Income and Expenses - Operating income for the three and nine months ended September 30, 2021, was $221.3 million and $644.7 million, reflecting increases of 7% and 4% respectively compared to the same periods in 2020[46]. - Cost of revenues for the three months ended September 30, 2021, was $47,801,000, a 6% increase from $45,024,000 in the same period last year[59]. - Sales and marketing expenses rose by 12% to $9,410,000 for the three months ended September 30, 2021, compared to $8,389,000 in the same period of 2020[63]. - Research and development expenses remained consistent at $19,566,000 for the three months ended September 30, 2021, compared to $19,708,000 in the same period last year[66]. - General and administrative expenses decreased by 5% to $36,160,000 for the three months ended September 30, 2021, down from $38,109,000 in the same period of 2020[70]. - Interest expense decreased by $3.7 million for the three months ended September 30, 2021, compared to the same period last year, due to lower interest rates on the company's debt[73]. - The effective tax rate for the three months ended September 30, 2021, was 23%, compared to 8% in the same period of 2020[76]. Cash Flow and Financial Position - The company generated cash flows from operating activities of $600.9 million during the nine months ended September 30, 2021, compared to $535.0 million for the same period in 2020[50]. - Cash and cash equivalents as of September 30, 2021, were $256,869,000, down from $401,194,000 as of December 31, 2020[79]. - Marketable securities increased to $941,552,000 as of September 30, 2021, compared to $765,713,000 as of December 31, 2020[79]. - For the nine months ended September 30, 2021, net cash provided by operating activities was $600.9 million, an increase from $534.9 million in the same period last year[83]. - Cash received from customers increased due to higher domain name registrations and renewals, partially offset by increased cash paid to employees and vendors[85]. - The company experienced a net decrease in cash, cash equivalents, and restricted cash of $148.1 million for the nine months ended September 30, 2021[83]. Share Repurchase and Debt Management - The company repurchased 0.8 million shares of common stock for an aggregate cost of $172.4 million during the three months ended September 30, 2021[50]. - During the three months ended September 30, 2021, the company repurchased 0.8 million shares for an aggregate cost of $172.4 million, with approximately $565.1 million remaining for future share repurchases[80]. - The company issued $750.0 million of 2.700% senior unsecured notes due June 15, 2031, and redeemed all $750.0 million of 4.625% senior notes due 2023[81]. - As of September 30, 2021, the company had no borrowings outstanding under its $200.0 million credit facility expiring in 2024[81]. - The company believes existing cash, cash equivalents, and marketable securities will be sufficient to meet working capital and capital expenditure requirements for at least the next 12 months[82]. Market Conditions and Future Outlook - The renewal rate for .com and .net domains for the second quarter of 2021 was 75.4%, up from 72.8% in the second quarter of 2020[46]. - The company anticipates that the ongoing COVID-19 pandemic may continue to impact the demand for domain names as businesses seek to establish or expand their online presence[49]. - Net cash used in investing activities decreased to $215.1 million for the nine months ended September 30, 2021, compared to $305.8 million in the same period last year[83]. - Net cash used in financing activities decreased to $533.3 million for the nine months ended September 30, 2021, primarily due to proceeds from the issuance of the 2031 Notes[88].