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LifeLock Announces Third Quarter 2012 Results

Mr. Davis added, “The completion of our IPO early in the fourth quarter provides us with increased financial resources and market awareness, which further strengthen our ability to execute our growth strategy and capitalize on a growing multi-billion dollar opportunity for proactive identity theft solutions.”

Third Quarter 2012 Business Highlights:

  • Recorded the 30th consecutive quarter of sequential growth in revenue and cumulative ending members.
  • Appointed Hilary Schneider as President of LifeLock. Most recently the EVP of Americas for Yahoo!, Hilary brings with her over 20 years of experience in leadership roles in global technology organizations.
  • Added approximately 187,000 gross new members in the third quarter of 2012 and ended the quarter with approximately 2.4 million members.
  • Improved retention rate to 85.9% for the third quarter of 2012 compared with 82.6% in the third quarter of 2011.
  • Increased monthly average revenue per member to $9.39 for the third quarter of 2012 from $8.68 for the third quarter of 2011.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below, under the heading “Non-GAAP Financial Measures.”

Guidance:

As of November 7, 2012, LifeLock is initiating guidance for its fourth quarter of 2012 as well as the full year 2012.

  • Fourth Quarter 2012 Guidance: Total revenue is expected to be in the range of $73 million to $74 million. Non-GAAP adjusted net income per share is expected to be in the range of $0.06 to $0.07 based on approximately 97 million weighted-average shares outstanding. Adjusted EBITDA is expected to be in the range of $9 million to $10 million.
  • Full Year 2012 Guidance: Total revenue is expected to be in the range of $270.5 million to $271.5 million. Non-GAAP adjusted net income per share is expected to be in the range of $0.26 to $0.27 based on approximately 74 million weighted-average shares outstanding. Adjusted EBITDA is expected to be in the range of $28 million to $29 million. Free cash flow expected to be in the range of $38 million to $40 million.

Conference Call Details:

  • What: LifeLock financial results for the third quarter of 2012.
  • When: Wednesday, November 7, 2012 at 2PM PT (5PM ET).
  • Dial in: To access the call in the United States, please dial (866) 730-5769, and for international callers dial (857) 350-1593. Callers may provide confirmation number 60366425 to access the call more quickly, and are encouraged to dial into the call 10 to 15 minutes prior to the start to prevent any delay in joining.
  • Webcast: http://investor.lifelock.com/ (live and replay)
  • Replay: A replay of the call will be available via telephone for seven days, beginning two hours after the call. To listen to the telephone replay in the U.S., please dial (888) 286-8010, and for international callers dial (617) 801-6888 and enter access code 40405867.

About LifeLock

LifeLock, Inc. (NYSE:LOCK) is a leading provider of proactive identity theft protection services for consumers and identity risk assessment and fraud protection services for enterprises. Since 2005, LifeLock has been relentlessly protecting identities by providing consumers with the tools and confidence they need to help protect themselves from identity theft and manage their credit. In October 2012, Javelin Strategy & Research named LifeLock Ultimate™ a “Best in Class Overall” identity theft protection solution and also named it “Best in Detection”. In March 2012, LifeLock further demonstrated its commitment to combating identity fraud with the purchase of ID Analytics, Inc., a leader in enterprise identity risk management that provides visibility into identity risk and credit worthiness. ID Analytics, Inc. currently operates as a wholly owned subsidiary of LifeLock, Inc.

Forward-Looking Statements

This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including statements regarding LifeLock’s market share, the identity theft protection industry, market awareness of the growing risk of identity theft and fraud, LifeLock’s ability to benefit from its differentiated offering and brand recognition, and LifeLock’s expected total revenue, non-GAAP adjusted net income and non-GAAP adjusted net income per share, adjusted EBITDA, and free cash flow. These forward-looking statements are based on LifeLock’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause LifeLock’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement.

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