Trend Micro Q 3 2022 Reflects Continued Global SaaS Expansion.

TOKYO: Trend Micro Incorporated (TYO: 4704;TSE: 4704), a global cybersecurity leader, today announced earnings results for the third quarter of fiscal year 2022, ending September 30, 2022.

A transformation to SaaS and a holistic platform approach to security, including cloud and extended detection and response, continued to drive the company's success this quarter.

Enterprise subscription-based ARR increased by 29% year-over-year along with an 11% increase in subscription-based customers, now exceeding 411,000.

"This quarter brought success in key areas to our business, including the continued adoption of SaaS by the most geographically diverse customer base in the security industry," said Eva Chen, co-founder and chief executive officer for Trend Micro. "Our team of 7,000 employees is ruthlessly focused on securing those organizations, as well as our global society from increasingly sophisticated threats."

For this quarter, Trend Micro posted consolidated net sales of 56,798 million Yen (or US $410 million, 138.40 JPY = 1USD). The company posted operating income of 7,213 million Yen (or US $52 million) and net income attributable to owners of the parent of 13,530 million Yen (or US $97 million) for the quarter.

The company will not revise expected consolidated results for the full year ending December 31, 2022 (released on November 2, 2022).

Based on information currently available to the company, consolidated net sales for the year ending December 31, 2022, is expected to be 225,900 million Yen (or US $1,685 million, based on an exchange rate of 134 JPY = 1 USD). Operating income and net income are expected to be 37,000 million Yen (or US $276 million) and 31,900 million Yen (or US $238 million), respectively.

Key business updates in Q3 2022

Innovative: Trend Micro nurtures a culture of innovation to drive advancements across its cybersecurity platform.

Named No. 1 in cloud workload security for the fourth consecutive year with 17.7% of the cloud workload security market share, which is nearly three times the size of the next largest competitor, according to IDC.

The company divested investment in the security operations center company, named Cysiv, to allow for alternate areas of growth.

Trend Micro has the industry's best protection for Linux-based systems, which is critical as the company found a 75% increase in ransomware attacks on these systems.

According to a survey, 73% of organizations worry about their growing attack surface...