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MCFE McAfee

McAfee Corp. is a holding company with no operations and, as such, will depend on its subsidiaries for cash to fund all of its operations and expenses. McAfee Corp. will depend on the payment of distributions by its subsidiaries, including FTW. The terms of the agreements governing our senior secured credit facilities contain certain negative covenants prohibiting certain of our subsidiaries from making cash dividends or distributions to McAfee Corp. or to FTW unless certain financial tests are met. For a discussion of those restrictions, see “—Senior Secured Credit Facilities” below and “Risk Factors—Risks Related to Our Indebtedness—Restrictions imposed by our outstanding indebtedness and any future indebtedness may limit our ability to operate our business and to finance our future operations or capital needs or to engage in acquisitions or other business activities necessary to achieve growth.” We currently anticipate that such restrictions will not impact our ability to meet our cash obligations.

Company profile

Ticker
MCFE
Exchange
Employees
Incorporated
Location
Fiscal year end
Former names
Greenseer Holdings Corp.
SEC CIK

MCFE stock data

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Calendar

1 Mar 21
18 Apr 21
26 Dec 21
Quarter (USD)
Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from McAfee earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 Apr 21 Leav Peter Class A Common Stock Payment of exercise Dispose F No No 25.38 387 9.82K 2,064,277
12 Apr 21 Venkat Bhamidipati Class A Common Stock Payment of exercise Dispose F No No 25.38 109 2.77K 816,746
9 Apr 21 Leav Peter Class A Common Stock Grant Aquire A No No 0 9,736 0 2,064,664
9 Apr 21 Venkat Bhamidipati Class A Common Stock Grant Aquire A No No 0 3,765 0 816,855
1 Apr 21 Venkat Bhamidipati Class A Common Stock Payment of exercise Dispose F No No 22.74 22,259 506.17K 813,090
1 Apr 21 Lynne Doherty McDonald Class A Common Stock Payment of exercise Dispose F No No 22.74 15,890 361.34K 433,400
1 Apr 21 Terry Hicks Class A Common Stock Payment of exercise Dispose F No No 22.74 12,420 282.43K 451,352

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 88 0 NEW
Opened positions 88 0 NEW
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 2.99B 0 NEW
Total shares 178.88M 0 NEW
Total puts 447.2K 0 NEW
Total calls 734.4K 0 NEW
Total put/call ratio 0.6
Largest owners
Shares Value Change
TPG 66.59M $1.11B NEW
Thoma Bravo Ugp 43.12M $719.62M NEW
Thoma Bravo 18.85M $314.64M NEW
INTC Intel 5.7M $95.08M NEW
Viking Global Investors 5.25M $87.65M NEW
TROW T. Rowe Price 4.66M $77.78M NEW
Park West Asset Management 3.7M $61.75M NEW
Massachusetts Financial Services 3.18M $53.16M NEW
AMP Ameriprise Financial 2.9M $48.37M NEW
Vanguard 2.73M $45.57M NEW
Largest transactions
Shares Bought/sold Change
TPG 66.59M +66.59M NEW
Thoma Bravo Ugp 43.12M +43.12M NEW
Thoma Bravo 18.85M +18.85M NEW
INTC Intel 5.7M +5.7M NEW
Viking Global Investors 5.25M +5.25M NEW
TROW T. Rowe Price 4.66M +4.66M NEW
Park West Asset Management 3.7M +3.7M NEW
Massachusetts Financial Services 3.18M +3.18M NEW
AMP Ameriprise Financial 2.9M +2.9M NEW
Vanguard 2.73M +2.73M NEW

Financial report summary

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Competition
QualysProofpointFortinetSuperComFireEye
Risks
  • The COVID-19 pandemic has affected how we are operating our business, and the duration and extent to which this will impact our future results of operations and overall financial performance remains uncertain.
  • The cybersecurity market is rapidly evolving and becoming increasingly competitive in response to continually evolving cybersecurity threats from a variety of increasingly sophisticated cyberattackers. If we fail to anticipate changing customer requirements or industry and market developments, or we fail to adapt our business model to keep pace with evolving market trends, our financial performance will suffer.
  • We operate in a highly competitive environment, and we expect competitive pressures to increase in the future, which could cause us to lose market share.
  • Our business depends substantially on our ability to retain customers and to expand sales of our solutions to them. If we are unable to retain our customers or to expand our product offerings, our future results of operations will be harmed.
  • We may need to change our pricing models to compete successfully.
  • We face risks related to enterprise customer outsourcing to system integrators and similar service providers.
  • If cybersecurity industry analysts publish unfavorable or inaccurate research reports about our business, our financial performance could be harmed.
  • Our results of operations can be difficult to predict and may fluctuate significantly, which could result in a failure to meet investor expectations.
  • The sudden and significant economic downturn or volatility in the economy in the United States and our other major markets could have a material adverse impact on our business, financial condition, results of operations, or cash flows.
  • We have experienced net losses in recent periods and may not maintain profitability in the future.
  • Forecasting our estimated annual effective tax rate is complex and subject to uncertainty, and there may be material differences between our forecasted and actual tax rates.
  • Our global operations may expose us to increased tax risks.
  • Our ability to use certain net operating loss carryforwards and certain other tax attributes may be limited.
  • We face risks associated with past and future investments, acquisitions, and other strategic transactions.
  • Over the last several years, we have pursued a variety of strategic initiatives designed to optimize and reinforce our cybersecurity platform. If the benefits of these initiatives are less than we anticipate, or if the realization of such benefits is delayed, our business and results of operations may be harmed.
  • Our investments in new or enhanced solutions may not yield the benefits we anticipate.
  • If our solutions have or are perceived to have defects, errors, or vulnerabilities, or if our solutions fail or are perceived to fail to detect, prevent, or block cyberattacks, including in circumstances where customers may fail to take action on attacks identified by our solutions, our reputation and our brand could suffer, which would adversely impact our business, financial condition, results of operations, and cash flows.
  • Failure to adapt our product and service offerings to changing customer demands, or lack of customer acceptance of new or enhanced solutions, could harm our business and financial results.
  • If we are unable to increase sales of our solutions to new customers, our future results of operations may be harmed.
  • Our ability to maintain customer satisfaction depends in part on the quality of our technical support services, and increased demands on those services may adversely affect our relationships with our customers and negatively impact our financial results.
  • If our solutions do not interoperate with our customers’ existing systems and devices in a manner which our customers expect, sales of our solutions could be adversely affected.
  • Our solutions operate in a wide range of complex customer systems, networks, and configurations, which could result in product errors or bugs.
  • We rely on large amounts of data from a variety of sources to support our solutions and the loss of access to or the rights to use such data could reduce the efficacy of our solutions and harm our business.
  • Our business could be adversely affected if our employees cannot obtain and maintain required security clearances or we cannot maintain a required facility security clearance, or we do not comply with legal and regulatory obligations regarding the safeguarding of classified information.
  • We have lengthy sales cycles for some of our solutions for enterprises and governments, including renewal sales, which may result in delays in, or an inability to generate, revenues from these solutions.
  • If the protection of our proprietary technology is inadequate, we may not be able to adequately protect our innovations and brand.
  • We may be sued by third parties for alleged infringement, misappropriation, or other violation of their proprietary rights, and it may be necessary for us to sue third parties to enforce and protect our proprietary rights, resulting in potential lengthy and expensive litigation.
  • Our use of open source software could negatively affect our ability to sell our solutions and subject us to possible litigation.
  • If we fail to successfully promote or protect our brand, our business, and competitive position may be harmed.
  • We rely significantly on third-party partners to facilitate the sale of our products and solutions.
  • We rely on third-party manufacturers to manufacture and produce our hardware products and to package certain of our software products, which subjects us to risks of product delivery delays and other supply risks.
  • Our third-party strategic alliances expose us to a range of business risks and uncertainties that are outside of our control and that could have a material adverse impact on our business and financial results.
  • If our security measures are breached or unauthorized access to our data is otherwise obtained, our brand, reputation, and business could be harmed, and we may incur significant liabilities.
  • We rely on payment cards to receive payments and are subject to payment-related risks.
  • We operate globally and are subject to significant business, economic, regulatory, social, political, and other risks in many jurisdictions.
  • Our business operations and the use of our technology are subject to evolving legal requirements regarding privacy throughout the world.
  • We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in international markets.
  • Failure to comply with the U.S. Foreign Corrupt Practices Act, other applicable anti-corruption and anti-bribery laws, and applicable anti-money-laundering laws could subject us to penalties and other adverse consequences.
  • If we fail to comply with environmental requirements, our business, financial condition, results of operations, cash flows, and reputation could be adversely affected.
  • If we are unable to attract, train, motivate, and retain senior management and other qualified personnel, our business could suffer.
  • Our business is subject to the risks of product defects, warranty claims, product returns, and product liability.
  • We may be unable to raise additional capital on acceptable terms, or at all.
  • Our substantial leverage could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or our market, expose us to interest rate risk, and prevent us from timely satisfying our obligations.
  • We may be unable to generate sufficient cash flow to satisfy our significant debt service obligations, which could have a material adverse effect on our business, financial condition, results of operations, and cash flows.
  • We will require a significant amount of cash to service our indebtedness. The ability to generate cash or refinance our indebtedness as it becomes due depends on many factors, some of which are beyond our control.
  • If the financial institutions that are part of the syndicate of our Revolving Credit Facility fail to extend credit under our facility, our liquidity and results of operations may be adversely affected.
  • We may be adversely affected by the phase-out of, or changes in the method of determining, the London Interbank Offered Rate (“LIBOR”) or the Euro Interbank Offered Rate (“EURIBOR”), or the replacement of LIBOR and/or EURIBOR with different reference rates.
  • Our principal asset is our interest in Foundation Technology Worldwide LLC, and we are dependent upon Foundation Technology Worldwide LLC and its consolidated subsidiaries for our results of operations, cash flows, and distributions.
  • We will be required to pay certain Continuing Owners and certain Management Owners for certain tax benefits we may realize or are deemed to realize in accordance with the tax receivable agreement between us and such Continuing Owners and Management Owners, and we expect that the payments we will be required to make will be substantial.
  • Our organizational structure, including the tax receivable agreement, confers certain benefits upon certain Continuing Owners and certain Management Owners, which benefits are not conferred on Class A common stockholders generally.
  • We will not be reimbursed for any payments made to the TRA Beneficiaries under the tax receivable agreement in the event that any purported tax benefits are subsequently disallowed by the IRS.
  • Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our financial condition and results of operations.
  • Our Sponsors and Intel will continue to have significant influence over us, including control over decisions that require the approval of stockholders, which could limit your ability to influence the outcome of matters submitted to stockholders for a vote.
  • Certain of our directors have relationships with our Sponsors and Intel, which may cause conflicts of interest with respect to our business.
  • We previously identified a material weakness in our internal control over financial reporting in recent periods, which we concluded as of the end of the first quarter of fiscal 2020 had been fully remediated, and if we fail to maintain proper and effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act in the future, our ability to produce accurate and timely consolidated financial statements could be impaired, which could harm our results of operations, our ability to operate our business, and investor confidence.
  • The Continuing Owners have the right to have their LLC Units exchanged for cash or (at our option) shares of Class A common stock and any disclosure of such exchange or the subsequent sale (or any disclosure of an intent to enter into such an exchange or subsequent sale) of such shares of Class A common stock may cause volatility in our stock price.
  • A credit ratings downgrade or other negative action by a credit rating organization could adversely affect the trading price of the shares of our Class A common stock.
  • Provisions of our corporate governance documents could make an acquisition of our Company more difficult and may prevent attempts by our stockholders to replace or remove our current management, even if beneficial to our stockholders.
  • Our certificate of incorporation designates courts in the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, and also provides that the federal district courts will be the exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act, each of which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers, stockholders, or employees.
  • Our certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities, which could adversely impact our business.
Management Discussion
  • Net revenue increased $271 million, or 10.3%, from $2,635 million for the year ended December 28, 2019 to $2,906 million for the year ended December 26, 2020. The increase was primarily attributable increases in net revenue for our Consumer segment from a combination of (i) higher Core Direct to Consumer Customer subscriber base from prior year, (ii) increase in TTM Dollar Based Retention – Core Direct to Consumer Customers, (iii) increases in ARPC, (iv) increased new subscribers from improvements in customer acquisition across channels combined with higher demand due to the accelerated shift to working from home as a result of the COVID-19 pandemic, (v) growth in our Mobile & Internet Service Provider channel, and (vi) increased secure search revenue.
Content analysis
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Legalese
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Readability
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Proxies

No filings

Patents

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Example methods, apparatus, systems and articles of manufacture (e.g., physical storage media) to implement contextual key management for data encryption are disclosed.
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A computing apparatus, including: a processor and a memory; a web browser; and a web exploit mitigation engine, including instructions within the memory to instruct the processor to: insert a script into an incoming webpage, the script including instructions to hook application programming interface (API) function calls of a scripting language, the API function calls for a plurality of functions commonly used by browser exploits; observe information passed by a running script to the plurality of API functions; correlate the called API functions to a malware model; detect a web page making the API function calls as containing a browser exploit according to the correlating; and act on the detecting.
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