VeriSign Files Q3 2024 10-Q Report

TL;DR

VeriSign's Q3 2024 10-Q is in. Check financials.

AI Summary

VeriSign Inc. reported its Q3 2024 results, with the filing dated October 24, 2024. The company's fiscal year ends on December 31st. Key financial data points and dates related to its reporting periods are included in this 10-Q filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for VeriSign, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new disclosures.

Key Numbers

• $1,000,000,000 — Authorized Shares (Indicates the total number of shares the company is authorized to issue.)
• $5,000,000 — Outstanding Shares (Represents the number of shares currently held by investors.)

Key Players & Entities

• VERISIGN INC/CA (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period for the 10-Q
• 20241024 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share VRSN Nasdaq Global
• $390.6 million — hts and Trends We recorded revenues of $390.6 million and $1,162.0 million during the three a
• $1,162.0 million — recorded revenues of $390.6 million and $1,162.0 million during the three and nine months ended
• $269.3 million — 2023. We recorded operating income of $269.3 million and $794.4 million during the three and
• $794.4 million — operating income of $269.3 million and $794.4 million during the three and nine months ended

Filing Documents

• vrsn-20240930.htm (10-Q) — 648KB
• vrsn-2024930x10qxex3101.htm (EX-31.01) — 10KB
• vrsn-2024930x10qxex3102.htm (EX-31.02) — 10KB
• vrsn-2024930x10qxex3201.htm (EX-32.01) — 5KB
• vrsn-2024930x10qxex3202.htm (EX-32.02) — 5KB
• 0001014473-24-000040.txt ( ) — 3740KB
• vrsn-20240930.xsd (EX-101.SCH) — 25KB
• vrsn-20240930_cal.xml (EX-101.CAL) — 55KB
• vrsn-20240930_def.xml (EX-101.DEF) — 98KB
• vrsn-20240930_lab.xml (EX-101.LAB) — 362KB
• vrsn-20240930_pre.xml (EX-101.PRE) — 241KB
• vrsn-20240930_htm.xml (XML) — 425KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Deficit for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 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 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 5. Other Information 20 Item 6. Exhibits 20

Signatures

Signatures 21 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) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 267.3 $ 240.1 Marketable securities 377.6 686.3 Other current assets 72.5 61.9 Total current assets 717.4 988.3 Property and equipment, net 224.8 233.2 Goodwill 52.5 52.5 Deferred tax assets 285.7 301.0 Deposits to acquire intangible assets 145.0 145.0 Other long-term assets 36.6 29.0 Total long-term assets 744.6 760.7 Total assets $ 1,462.0 $ 1,749.0 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued liabilities $ 255.5 $ 257.4 Deferred revenues 971.0 931.1 Current senior notes 299.7 — Total current liabilities 1,526.2 1,188.5 Long-term deferred revenues 328.0 315.0 Long-term senior notes 1,492.2 1,790.2 Long-term tax and other liabilities 16.2 36.3 Total long-term liabilities 1,836.4 2,141.5 Total liabilities 3,362.6 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: 355.2 at September 30, 2024 and 354.9 at December 31, 2023; Outstanding shares: 96.4 at September 30, 2024 and 101.3 at December 31, 2023 10,894.0 11,808.0 Accumulated deficit ( 12,792.2 ) ( 13,386.4 ) Accumulated other comprehensive loss ( 2.4 ) ( 2.6 ) Total stockholders' deficit ( 1,900.6 ) ( 1,581.0 ) Total liabilities and stockholders' deficit $ 1,462.0 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenues $ 3

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 I, Item 1A of the 2023 Form 10-K. 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 purposes of this Quarter

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View this 10-Q filing on SEC EDGAR