AI interpretation based on checked source excerpts. Issuer assertions and evidence limitations remain explicit.
Policy quality-scores-2: six equally weighted categories. The overall score requires full coverage. Missing inputs are not zero. Qualitative grades are sourced interpretations, not probabilities. 4/6 · 18/10/2026
Moat31
Equal-weight average of four evidence-backed rubric grades (0–4), scaled to 100.
structural advantage · 1/4 · Brands, distribution and marketplace breadth support commercial reach, but low entry barriers and actual partner replacement show fragile structural protection. Provider count does not demonstrate network effects.
durability · 1/4 · Multi-year Cyber Safety revenue growth demonstrates continuing demand, but platform substitution and independently developed competing technology weaken the durability of differentiation.
customer dependency · 1/4 · Direct billing and historical retention gains show repeat demand, but do not demonstrate high switching costs. Actual cancellation pressure and partner replacement provide contrary evidence.
erosion resilience · 2/4 · Annual segment growth and quarterly cash generation demonstrate operating resilience despite competition. Realized distribution losses and recent margin compression prevent a strong assessment; margins alone do not establish a moat.
Pricing power44
Equal-weight average of four evidence-backed rubric grades (0–4), scaled to 100.
realized pricing · 2/4 · Monthly Direct ARPU increased by $0.15 in fiscal 2024 and $0.04 in fiscal 2025 while direct customers grew. This is indirect evidence of modest realized monetization strength, not proof of like-for-like price increases; mix and cross-selling are not separated.
retention · 2/4 · Direct retention improved in both fiscal 2024 and fiscal 2025 under a disclosed active-customer definition. These actual improvements coexist with experienced cancellation or retention pressure. Absolute rates and current comparable cohort data are missing.
margin resilience · 2/4 · Annual operating income grew, but fiscal 2026 comparisons include a favorable litigation adjustment. In the July 2026 quarter, gross margin fell from 79% to 77% and operating margin from 35% to 33%, with operating income slightly lower despite revenue growth. The evidence is mixed and does not isolate pricing from mix or restructuring.
contractual freedom · 1/4 · Instacash discloses an optional expedited-delivery fee and no customer contractual repayment obligation, showing weak contractual payment dependence despite realized service revenue. This supports a fragile assessment for the disclosed product; broader subscription repricing and renewal rights are not supplied.
Predictability87
Five consecutive annual periods. Equal weights: nondeclining revenue frequency; revenue-growth volatility (5–40pp); positive FCF frequency; FCF-margin volatility (3–20pp). Stability indicator, not a growth forecast.
- Nondeclining revenue years (%)
- 100.00
- Revenue growth volatility (pp)
- 8.66
- Positive FCF years (%)
- 100.00
- FCF margin volatility (pp)
- 10.40
Financial strength—
Missing required inputs: netDebtEbitGrade. Equal-weight grades: debt/FCF (1–8x), net debt/earnings before interest and tax (0–5x), interest service (1–12x), current ratio (0.75–2x). Earnings use reported operating income, or reported pretax profit plus reported interest expense when operating income is unavailable. Interest service uses earnings/interest expense; if unavailable, it uses reported operating cash flow/cash interest paid, without relabeling cash paid as accrued expense. Nonpositive cash flow/earnings score 0 for their service component; reported zero interest with a positive numerator scores 100. Net cash scores 100 for net leverage. Missing disclosures remain unavailable. General nonfinancial-company rubric, not a credit rating; exceptional and nonoperating gains are not normalized out. IFRS finance-cost and cash-flow classifications retain their reported scope.
- debtFcfGrade
- 37.41
- interestCoverageGrade
- 24.78
- currentRatioGrade
- 0.00
- Debt / FCF (x)
- 5.38
- Interest coverage (x)
- 3.73
- Current ratio (x)
- 0.40
Capital allocation—
Missing required inputs: operatingReturn. Three-year equal-weight indicators: pretax return on average invested capital (0–25%; equity + debt − cash, each year and its prior year), share-count growth (0–5%, lower better), share-based cost/revenue (2–20%, lower better), consolidated FCF/net income (0–1x). Return uses reported operating income or, if unavailable, EBIT calculated from reported pretax profit plus reported interest expense; exceptional/nonoperating gains are not normalized out. Share-based cost uses the reported cash-flow add-back or, if absent, separately reported recognized compensation expense; the latter never becomes an FCF adjustment. Nonpositive net income scores 0 for cash conversion; absent income/FCF stays unavailable. Nonpositive invested capital has no defined return and remains unavailable. Does not establish acquisition quality or buyback timing.
- 3-year average dilution (%)
- -0.07
- 3-year average SBC / revenue (%)
- 3.91
- cashConversionGrade
- 100.00
Management56
Equal-weight average of four evidence-backed rubric grades (0–4), scaled to 100.
capital discipline · 2/4 · Gen generated $1.545 billion of fiscal 2026 operating cash flow, but acquisitions, repurchases and dividends accompanied a $595 million cash decline. The latest quarter generated $434 million of operating cash flow, funded capital returns and debt repayment, and increased cash. Outstanding debt of $8.230 billion and unproven acquisition returns temper the favorable cash-generation evidence.
incentive alignment · 2/4 · Actual outcomes demonstrate performance enforcement: VCP I paid zero, and the committee reduced the annual payout from 156% to 135%. Multi-year TSR and growth metrics support alignment, but inclusion of acquisition revenue and qualifying termination payout protections weaken it. Ownership alignment is not established.
execution · 3/4 · Annual segment revenue and operating income growth, historical direct-customer and retention gains, and continued quarterly cash generation provide strong demonstrated execution evidence. This assessment uses operating outcomes rather than assuming causation by management. Acquisition contributions, fiscal-week differences, recent flat operating income and litigation adjustments limit the conclusion.
governance · 2/4 · Independent standing committees, independent director executive sessions and an actual downward compensation adjustment demonstrate functioning oversight. Combined CEO and chair roles and protective award provisions temper those safeguards. The passages establish practices and selected decisions, not exceptional governance effectiveness.
Evidence
and all of its subsidiaries. Gen, Norton, Avast, LifeLock, MoneyLion, Avira, AVG, ReputationDefender, CCleaner and all related trademarks, service marks and trade names are trademarks or registered trademarks of Gen or other respective owners that have granted Gen the right to use such marks.
Trademark and brand disclosures · Filed 21/05/2026
Of these total users, we have approximately 79 million paid customers which reflects all customers with at least one paid subscription as of the end of the period, and / or individuals with a unique account and at least one paid transaction in the trailing twelve months.
Business / paid customer definition and reach · Filed 21/05/2026
The following table presents details of our reportable segments and the “Corporate” category: Cyber Safety Platform Trust-Based Solutions Corporate Consolidated (In millions) Year Ended April 03, 2026 Net Revenues $ 3,339 $ 1,661 $ — $ 5,000 Other segment items (1) 1,298 1,159 — 2,457 Operating income (loss) $ 2,041 $ 502 $ (423) $ 2,120 Year Ended March 28, 2025 Net Revenues $ 3,176 $ 759 $ — $ 3,935 Other segment items (1) 1,265 372 — 1,637 Operating income (loss) $ 1,911 $ 387 $ (688) $ 1,610 Year Ended March 29, 2024 Net Revenues $ 3,057 $ 743 $ — $ 3,800 Other segment items (1) 1,225 366 — 1,591 Operating income (loss) $ 1,832 $ 377 $ (1,099) $ 1,110 (1) Other segment items for our Cyber Safety Platform and Trust-Based Solutions include product costs, infrastructure and facilities expense, and compensation and benefits excluding stock-based compensation and expenses identified in “Corporate”.
Segment financial results / fiscal 2024–2026 · Filed 21/05/2026
•Security: Our principal competitors in this segment include Apple, Bitdefender, ESET, F-Secure, Google, Kaspersky, Malwarebytes, McAfee, Microsoft, Trend Micro, and Webroot.
Business / named Security competitors, filed May 16, 2024 · Filed 16/05/2024
We expect our competition to continue to increase, as there are generally no substantial barriers to entry into the markets we serve.
Risk factors / competition and entry barriers · Filed 07/08/2026
In addition, operating system and platform providers increasingly incorporate native security, privacy, and financial features into their products, often at no additional cost, which may reduce demand for our offerings or diminish their differentiation.
Risk factors / native platform features · Filed 07/08/2026
Third parties have previously and may in the future also develop similar or superior technology independently by designing around our patents.
Risk factors / independently developed competing technology · Filed 07/08/2026
Our direct subscriptions are primarily sold through our e-commerce platform and mobile apps, and we have a direct billing relationship with the majority of these customers.
Business / direct subscription distribution and billing · Filed 21/05/2026
•During fiscal 2024, we increased net Direct customers by 0.9 million, increased monthly Direct ARPU by $0.15, and increased our Direct retention rate by 1%.
MD&A / fiscal 2024 direct customers, ARPU and retention · Filed 16/05/2024
•During fiscal 2025, we increased net Direct customers by 1.3 million, increased monthly Direct ARPU by $0.04 and increased our Direct retention rate by 1%.
MD&A / fiscal 2025 direct customers, ARPU and retention · Filed 15/05/2025
Customers with connected financial accounts demonstrate higher engagement, stronger ARPU, and better retention, which further deepens loyalty over time.
Business strategy / connected-account engagement and retention assertion · Filed 21/05/2026
Retention rate is defined as the percentage of direct customers as of the end of the period from one year ago who are still active as of the most recently completed fiscal period.
Performance metrics / direct retention definition · Filed 15/05/2025
•Identity Protection: Our principal competitors in this segment include credit bureaus such as Equifax, Experian and TransUnion, as well as certain credit monitoring and identity theft protection solutions from others such as Allstate, Aura, Generali (Iris), Intuit (Credit Karma) and Microsoft.
Business / named Identity Protection competitors, filed May 16, 2024 · Filed 16/05/2024
We have experienced and may continue to experience a material increase in cancellations by customers or reduced retention during such periods.
Risk factors / experienced cancellations and reduced retention · Filed 07/08/2026
We also depend on strategic distribution and bundling relationships, and partners have in the past replaced, and may in the future replace, our solutions with competing or internally developed offerings, promote competing products more favorably, or limit interoperability.
Risk factors / actual partner replacement and future distribution risks · Filed 07/08/2026
Our Engine marketplace connects consumers with over 600 third-party financial product providers across lending, insurance, credit, and banking, represents a hosted decisioning engine.
Business / Engine marketplace provider breadth · Filed 21/05/2026
In our MoneyLion business, changes in product partners’ underwriting standards, marketing budgets, financial condition or strategic priorities could reduce the availability of financial products on our platform, decrease marketing and advertising revenue, delay payments or otherwise negatively affect our results.
Risk factors / MoneyLion product-partner dependence · Filed 21/05/2026
Consolidation among retailers, online platforms, financial institutions or other distribution intermediaries may increase their negotiating leverage, reduce available distribution channels for us and negatively affect pricing and margins.
Risk factors / distribution intermediary bargaining power · Filed 21/05/2026
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in millions, except per share amounts) Three Months Ended July 3, 2026 July 4, 2025 Net revenues $ 1,336 $ 1,257 Cost of revenues 307 267 Gross profit 1,029 990 Operating expenses: Sales and marketing 300 297 Research and development 118 109 General and administrative 80 74 Amortization of intangible assets 56 54 Restructuring and other costs 32 10 Total operating expenses 586 544 Operating income (loss) 443 446 Interest expense (124) (156) Other income (expense), net 4 10 Income (loss) before income taxes 323 300 Income tax expense (benefit) 108 165 Net income (loss) $ 215 $ 135 Net income (loss) per share - basic $ 0.36 $ 0.22 Net income (loss) per share - diluted $ 0.36 $ 0.22 Weighted-average shares outstanding: Basic 599 617 Diluted 603 624 The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.
Quarterly statements of operations / July 2026 and July 2025 · Filed 07/08/2026
RESULTS OF OPERATIONS The following table sets forth our Condensed Consolidated Statements of Operations data as a percentage of net revenues for the periods indicated: Three Months Ended July 3, 2026 July 4, 2025 Net revenues 100 % 100 % Cost of revenues 23 21 Gross profit 77 79 Operating expenses: Sales and marketing 22 24 Research and development 9 9 General and administrative 6 6 Amortization of intangible assets 4 4 Restructuring and other costs 2 1 Total operating expenses 44 43 Operating income (loss) 33 35 Interest expense (9) (12) Other income (expense), net — 1 Income (loss) before income taxes 24 24 Income tax expense (benefit) 8 13 Net income (loss) 16 % 11 % Note: Percentages may not add due to rounding.
MD&A / quarterly gross and operating margins · Filed 07/08/2026
CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended April 3, 2026 March 28, 2025 March 29, 2024 OPERATING ACTIVITIES: Net income (loss) $ 973 $ 643 $ 607 Adjustments: Amortization and depreciation 493 419 485 Impairments and write-offs of current and long-lived assets — 7 (3) Stock-based compensation expense 237 133 138 Loss on sale of Instacash Advances 205 — — Deferred income taxes 92 (32) (991) Loss on extinguishment of debt 9 — — Gain on sale of nonfinancial assets (15) — — Gain on sale of properties — — (9) Non-cash operating lease expense 18 16 18 Change in fair value and impairment of non-marketable equity investments 79 30 40 Foreign currency remeasurement loss (gain) 54 (2) (18) Legal contract dispute cost (1) — 66 — Other 47 13 40 Changes in operating assets and liabilities, net of acquisitions: Accounts receivable, net (32) (53) 7 Accounts payable (48) 26 (12) Accrued compensation and benefits 8 27 (24) Contract liabilities 74 36 47 Income taxes payable (96) (80) 446 Instacash Advances held for sale, net (205) — — Other assets 16 86 861 Other liabilities (364) (114) 432 Net cash provided by (used in) operating activities 1,545 1,221 2,064 INVESTING ACTIVITIES: Purchases of property and equipment (22) (15) (20) Purchase of non-marketable equity investments — (4) — Payments for acquisitions, net of cash acquired (1,032) (84) — Payments for originations of notes receivable (283) — — Proceeds from principal repayments of notes receivable 253 — — Proceeds from the maturities and sales of short-term investments 13 — — Proceeds from the sale of properties 21 — 25 Proceeds from sale of nonfinancial assets 40 — — Other (1) 3 (3) Net cash provided by (used in) investing activities (1,011) (100) 2 FINANCING ACTIVITIES: Repayments of debt (3,620) (1,311) (1,183) Proceeds from issuance of debt, net of issuance costs (2) 3,475 941 — Net proceeds from sales of common stock under employee stock incentive plans 13 11 12 Tax payments related to vesting of stock units (55) (26) (26) Dividends and dividend equivalents paid (312) (313) (323) Repurchases of common stock (634) (272) (441) Net cash provided by (used in) financing activities (1,133) (970) (1,961) Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash 4 9 (9) Change in cash, cash equivalents and restricted cash (595) 160 96 Beginning cash, cash equivalents and restricted cash 1,006 846 750 Ending cash, cash equivalents and restricted cash $ 411 $ 1,006 $ 846 (1) During fiscal 2025, in connection with a legal settlement terminating our agreement with an Avast e-commerce partner that acted as payment processor and merchant of record for a subset of customers, we released our claims to $66 million of outstanding accounts receivable (net of any fees payable) in exchange for the transfer of the related customer information to us.
Annual cash flows / acquisitions, financing, distributions and partner settlement · Filed 21/05/2026
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions) Three Months Ended July 3, 2026 July 4, 2025 OPERATING ACTIVITIES: Net income (loss) $ 215 $ 135 Adjustments: Amortization and depreciation 123 123 Stock-based compensation expense 54 66 Loss on sale of Instacash Advances 60 36 Deferred income taxes (9) 11 Loss on sale of property — 1 Non-cash operating lease expense 4 4 Foreign currency remeasurement loss (gain) (1) 86 Other 9 10 Changes in operating assets and liabilities, net of acquisitions: Accounts receivable, net (13) 10 Accounts payable 1 (48) Accrued compensation and benefits (39) (21) Contract liabilities (56) (69) Income taxes payable 75 61 Instacash Advances held for sale, net (86) (47) Other assets (3) 58 Other liabilities 100 (7) Net cash provided by (used in) operating activities 434 409 INVESTING ACTIVITIES: Purchases of property and equipment (4) (4) Payments for acquisitions, net of cash acquired — (876) Payments for originations of notes receivable (85) — Proceeds from principal repayments of notes receivable 77 — Proceeds from the sale of property — 9 Other (3) (2) Net cash provided by (used in) investing activities (15) (873) FINANCING ACTIVITIES: Repayments of debt (45) (191) Proceeds from issuance of debt, net of issuance costs (1) — 741 Tax payments related to vesting of stock units (41) (44) Dividends and dividend equivalents paid (81) (82) Repurchases of common stock (100) (134) Net cash provided by (used in) financing activities (267) 290 Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash 1 (4) Change in cash, cash equivalents and restricted cash 153 (178) Beginning cash, cash equivalents and restricted cash 411 1,006 Ending cash, cash equivalents and restricted cash $ 564 $ 828 (1) Issuance costs paid for issuance of debt for three months ended July 4, 2025 were $9 million.
Quarterly cash flows / cash generation, debt repayment and capital returns · Filed 07/08/2026
(In millions) July 3, 2026 Term Loans $ 5,780 Senior Notes 2,450 Total debt $ 8,230 The Amended Credit Agreement contains customary representations and warranties and affirmative and negative covenants, including compliance with specified financial ratios, and includes a springing maturity provision applicable solely to the Extended Term A Facility and Revolving Facility pursuant to which the obligations under such facilities may become due and payable prior to the stated maturity dates.
MD&A / outstanding debt and financing covenants · Filed 07/08/2026
Despite strong operational success in building our cyber safety platform, such as delivering cost synergies (Cyber Safety now runs at a 60%+ operating margin), revenue synergies (sustained mid-single-digit growth), and customer growth (nearly 70M paid customers), VCP I concluded in March 2026 at 0% payout, as it did not meet share price appreciation targets, which were set in 2022.
CD&A / reported operating achievements and completed VCP I zero payout · Filed 28/07/2026
Component(1) Metric Executive Officer Payout FY26 Executive Annual Incentive Plan (EAIP) 100% based on FY26 bookings growth 135%(3) FY26 non-GAAP operating income threshold goal, which must be achieved prior to any payout Met Responsible business modifier (applied after determining payout based on FY26 bookings growth metric) Not Applied FY26 Performance-based Restricted Stock Units 50% based on 3-year total shareholder return (TSR) relative to the Nasdaq Composite Index NA 50% based on average revenue growth NA FY24 Performance-based Restricted Stock Units(2) 50% based on 3-year TSR relative to the Nasdaq Composite Index 156% 50% based on average bookings growth and average non-GAAP operating margin >50% 200% VCP II Equity Incentive Award 100% based on revenue growth with relative TSR modifier NA VCP I Equity Incentive Award 100% based on stock price hurdles with TSR gate 0% (1) Please see discussion in the CD&A section of this proxy statement below for more detail regarding how these metrics are calculated.
CD&A / fiscal 2026 incentive metrics and actual payout decisions · Filed 28/07/2026
The Compensation and Leadership Development Committee reduced the payout from 156% to 135% to account for differences between original plan assumptions and MoneyLion post-close realities, including the pace of membership and revenue synergies and stronger market growth than was assumed when the original plan was constructed.
CD&A / downward adjustment to actual annual incentive payout · Filed 28/07/2026
VCP performance goals are intended to account for potential strategic transactions, and incremental revenue from any acquisitions or strategic transactions shall be included in the performance calculations.
CD&A / acquisition revenue included in VCP performance calculations · Filed 28/07/2026
If a participant’s employment with the Company terminates by reason of an involuntary termination other than for cause during the performance period but after the first anniversary of the date of grant, and provided that the participant returns and makes effective a general release of claims in favor of the Company (and any majority or greater owned subsidiary) within 60 days following such termination of employment, then the prorated number of VCP PRUs that will accelerate and become immediately payable will be determined using the higher of (a) of 100% (i.e., target) or (b) the then highest achieved performance percentage based on the applicable performance metrics as of that date.
CD&A / VCP protection following qualifying involuntary termination · Filed 28/07/2026
Currently, each member of our Board, other than our current CEO and President and our former President, is an independent director, and all standing committees of the Board are composed entirely of independent directors.
Corporate governance / board and committee independence · Filed 28/07/2026
Gen™ 2026 Proxy | 17 TABLE OF CONTENTS Corporate Governance Executive Sessions After each regularly scheduled Board meeting, the independent members of our Board hold a separate closed meeting, referred to as an “executive session.”
Corporate governance / independent director executive sessions · Filed 28/07/2026
GEN DIGITAL INC. (Registrant) By: /s/ Vincent Pilette Vincent Pilette Chief Executive Officer, President and Chairman of the Board By: /s/ Natalie Derse Natalie Derse Chief Financial Officer August 7, 2026 51
Signatures / combined CEO, president and board chair roles as of August 7, 2026 · Filed 07/08/2026
There are no fees for standard fund delivery, although expedited delivery is available for an optional fee (Turbo Fee).
Instacash terms / optional expedited delivery fee · Filed 21/05/2026
Instacash Advances are not loans. The customer has no contractual obligation to repay an Instacash Advance, although the customer must be current on Instacash Advance repayments to request another Instacash Advance.
Instacash terms / absence of contractual repayment obligation · Filed 21/05/2026
Note 4. Revenues Disaggregation of revenues The following table summarizes the components of our net revenues: Three Months Ended (In millions) July 3, 2026 July 4, 2025 Subscription and service revenue (1) $ 1,331 $ 1,253 Net interest income on notes receivable 5 4 Net revenues $ 1,336 $ 1,257 (1) Subscription and service revenue includes amounts related to our Instacash Advances of $147 million and $97 million, during the three months ended July 3, 2026 and July 4, 2025, respectively.
Revenue note / realized Instacash-related revenue · Filed 07/08/2026
22 Table of Contents Net revenues Three Months Ended (In millions, except for percentages) July 3, 2026 July 4, 2025 Change in % Net revenues $ 1,336 $ 1,257 6 % Three Months Ended July 3, 2026 Compared with Three Months Ended July 4, 2025 Net revenues increased $79 million, primarily due to a $102 million increase in sales of our Trust-Based Solutions, partially offset by a $23 million decrease in sales of our Cyber Safety Platform, due to the $56 million impact of the additional week in the first quarter of fiscal 2026.
MD&A / quarterly segment revenue changes and additional-week effect · Filed 07/08/2026
Year Ended April 3, 2026 March 28, 2025 Diluted net income (loss) per share (GAAP) $1.57 $1.03 Adjustments to diluted net income (loss) per share: Stock-based compensation 0.38 0.21 Amortization of intangible assets 0.77 0.64 Impairment of intangible assets — 0.00 Restructuring and other costs 0.06 0.01 Acquisition and integration costs 0.02 0.02 Litigation costs (0.54) 0.10 Legal contract dispute cost — 0.11 Other — 0.01 Non-cash interest expense 0.05 0.04 Loss (gain) on extinguishment of debt 0.01 — Loss (gain) on equity investments 0.13 0.05 Loss (gain) on sale of properties (0.02) — Total adjustments to GAAP income (loss) before income taxes 0.85 1.20 Adjustment to GAAP provision for income taxes 0.15 (0.01) Total adjustment to income (loss), net of taxes 0.99 1.19 Diluted net income (loss) per share (Non-GAAP) $2.56 $2.22 Operating income (loss) $2,120 $1,610 Stock-based compensation 235 134 Amortization of intangible assets 477 401 Impairment of intangible assets — 3 Restructuring and other costs 35 7 Acquisition and integration costs 12 11 Litigation costs (336) 65 98 | Gen™ 2026 Proxy TABLE OF CONTENTS Annex A Year Ended April 3, 2026 March 28, 2025 Legal contract dispute cost — 66 Other — 1 Operating income (loss) (Non-GAAP) $2,543 $2,298 Net revenues $5,000 $3,935 Operating margin 42.4% 40.9% Operating margin (Non-GAAP) 50.9% 58.4% Explanation of key performance indicators Direct Revenue: Direct Revenue reflects subscriptions sold directly through e-commerce or mobile channels, and revenue generated from financial transactions directly made through Gen properties or marketplaces.
Annex A / GAAP and non-GAAP reconciliation, including litigation adjustments · Filed 28/07/2026
ARPU is calculated as estimated direct customer revenues for the period divided by the average direct customer count for the same period, expressed as a monthly figure.
Performance metrics / ARPU calculation · Filed 15/05/2025
