VeriSign, Inc. Files Quarterly Report on Form 10-Q for Period Ending March 31, 2024

TL;DR

<b>VeriSign, Inc. has filed its quarterly report for Q1 2024, detailing financial performance and operational updates.</b>

AI Summary

VERISIGN INC/CA (VRSN) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. VeriSign, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. VeriSign, Inc. is incorporated in Delaware. The filing was made on April 25, 2024.

Why It Matters

For investors and stakeholders tracking VERISIGN INC/CA, this filing contains several important signals. This 10-Q filing provides investors with the latest financial results and management's discussion of the company's performance for the first quarter of 2024. It allows stakeholders to assess VeriSign's financial health, operational efficiency, and strategic direction in the domain name and internet security services market.

Risk Assessment

Risk Level: low — VERISIGN INC/CA shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine updates.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand VeriSign's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly period ended)
• 2024-04-25 — Filing Date (Date filed)
• 1231 — Fiscal Year End (Company's fiscal year end)
• 7371 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• VERISIGN INC/CA (company) — Filer name
• 0001014473 (company) — Central Index Key
• DE (company) — State of Incorporation
• RESTON (company) — Business Address City
• VA (company) — Business Address State
• 20190 (company) — Business Address ZIP
• 7039483200 (company) — Business Phone
• 2024-03-31 (date) — Conformed Period of Report

FAQ

Industry Context

VeriSign operates in the domain name registry and internet security services sector, providing critical infrastructure for the internet.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the requirement to submit quarterly reports (Form 10-Q).

What Investors Should Do

1. Analyze VeriSign's revenue streams and growth trends for its domain name registration services.
2. Examine operating expenses, including R&D and G&A, to understand cost management.
3. Assess the company's cash flow and liquidity position as detailed in the financial statements.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-25: Filing Date — Date VeriSign, Inc. submitted the 10-Q to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 31, 2024; prior period comparisons will be available in subsequent filings or within the detailed financial statements.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share VRSN Nasdaq Global
• $384.3 million — hts and Trends We recorded revenues of $384.3 million during the three months ended March 31,
• $258.9 million — 2023. We recorded operating income of $258.9 million during the three months ended March 31,
• $260.4 million — r common stock for an aggregate cost of $260.4 million. As of March 31, 2024, there was $859.6
• $859.6 million — illion. As of March 31, 2024, there was $859.6 million remaining for future share repurchases
• $257.3 million — cash flows from operating activities of $257.3 million during the three months ended March 31,
• $259.0 million — onths ended March 31, 2024, compared to $259.0 million for the same period in 2023. 12 Tabl

Filing Documents

• vrsn-20240331.htm (10-Q) — 497KB
• vrsn-2024331x10qxex3101.htm (EX-31.01) — 10KB
• vrsn-2024331x10qxex3102.htm (EX-31.02) — 10KB
• vrsn-2024331x10qxex3201.htm (EX-32.01) — 5KB
• vrsn-2024331x10qxex3202.htm (EX-32.02) — 5KB
• 0001014473-24-000023.txt (&nbsp;) — 3277KB
• vrsn-20240331.xsd (EX-101.SCH) — 24KB
• vrsn-20240331_cal.xml (EX-101.CAL) — 54KB
• vrsn-20240331_def.xml (EX-101.DEF) — 91KB
• vrsn-20240331_lab.xml (EX-101.LAB) — 352KB
• vrsn-20240331_pre.xml (EX-101.PRE) — 229KB
• vrsn-20240331_htm.xml (XML) — 302KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 202 3 3 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Deficit for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 5. Other Information 18 Item 6. Exhibits 19

Signatures

Signatures 20 2 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS VERISIGN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except par value) (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 731.8 $ 240.1 Marketable securities 192.9 686.3 Other current assets 63.6 61.9 Total current assets 988.3 988.3 Property and equipment, net 227.2 233.2 Goodwill 52.5 52.5 Deferred tax assets 283.2 301.0 Deposits to acquire intangible assets 145.0 145.0 Other long-term assets 31.6 29.0 Total long-term assets 739.5 760.7 Total assets $ 1,727.8 $ 1,749.0 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued liabilities $ 249.9 $ 257.4 Deferred revenues 964.0 931.1 Total current liabilities 1,213.9 1,188.5 Long-term deferred revenues 320.8 315.0 Senior notes 1,790.7 1,790.2 Long-term tax and other liabilities 38.1 36.3 Total long-term liabilities 2,149.6 2,141.5 Total liabilities 3,363.5 3,330.0 Commitments and contingencies Stockholders' deficit: Preferred stock—par value $ .001 per share; Authorized shares: 5.0 ; Issued and outstanding shares: none — — Common stock and additional paid-in capital—par value $ .001 per share; Authorized shares: 1,000 ; Issued shares: 355.1 at March 31, 2024 and 354.9 at December 31, 2023; Outstanding shares: 100.1 at March 31, 2024 and 101.3 at December 31, 2023 11,559.4 11,808.0 Accumulated deficit ( 13,192.3 ) ( 13,386.4 ) Accumulated other comprehensive loss ( 2.8 ) ( 2.6 ) Total stockholders' deficit ( 1,635.7 ) ( 1,581.0 ) Total liabilities and stockholders' deficit $ 1,727.8 $ 1,749.0 See accompanying Notes to Condensed Consolidated Financial Statements. 3 Table of Contents VERISIGN, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions, except per share data) (Unaudited) Three Months Ended March 31, 2024 2023 Revenues $ 384.3 $ 364.4 Costs and expenses: Cost of revenues 49.1 49.9 Research and development 24.8 24.2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS You should read the following discussion in conjunction with the 2023 Form 10-K and the interim unaudited Condensed Consolidated Financial Statements and related notes included in Part I, Item I of this Quarterly Report on Form 10-Q. This Quarterly Report on Form 10-Q contains 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 (the "Exchange Act"). These forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties, including, among other things, statements regarding our expectations about the sufficiency of our existing cash, cash equivalents and marketable securities, and funds generated from operations, together with our borrowing capacity under the unsecured revolving credit facility. Forward-looking statements include, among others, those statements including the words "expects," "anticipates," "intends," "believes" and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the section titled "Risk Factors" in Part II, Item 1A of this Quarterly Report on Form 10-Q. You should also carefully review the risks described in other documents we file from time to time with the Securities and Exchange Commission, including the Quarterly Reports on Form 10-Q or Current Reports on Form 8-K that we file in 2024. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this Quarterly Report on Form 10-Q. We undertake no obligation to update publicly or revise such statements, whether as a result of new information, future events, or otherwise, except as required by law. For purpose

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