Business Description

Business Overview The technology landscape is changing rapidly. Cyberthreats are increasing in speed, sophistication, and scale, while the growth of hybrid systems, multi-cloud infrastructure, data volumes, SaaS applications, and AI-enabled processes is driving IT complexity. In this environment, secure and efficient digital operations are essential to overall business health. We are a leading global cybersecurity provider, helping protect businesses from evolving cyberthreats and navigate this fast-changing landscape. Our software platform is designed to provide end-to-end coverage across the IT environment, delivering comprehensive protection and efficient performance. Our solutions encompass three primary vectors: Unified Endpoint Management or “UEM,” Security Operations, and Data Protection. Together, these capabilities enable IT and security teams to secure and optimize devices and networks, detect and respond to threats, and backup and recover their data to ensure business continuity. We also provide an open ecosystem that seamlessly integrates with third-party tools, empowering customers to tailor their environments to their unique needs. By providing coverage across the entire attack lifecycle, we drive true business resilience. Architecture is key to our approach. Our software platform is designed to be an integrated, enterprise-grade solution that serves as a scalable operating system for our customers. Built on a multi-tier, multi-tenant architecture, our platform allows our customers to improve security posture and service delivery by offering centralized visibility and role-based access control in both public and private cloud, on-premises and hybrid cloud environments. We deliver our solutions through a channel-led model. We partner with IT services providers, including Managed Service Providers (“MSPs”), Value Added Resellers (“VARs”), distributors, and other channel partners who support and deliver technology solutions to businesses. Many companies lack the resources or internal expertise to effectively manage their technology assets, and this gap, coupled with the desire to better leverage technology in their businesses, has created a growing need for them to rely on the channel to support their IT and security needs. IT services providers are vital partners as more companies seek to implement technology solutions that help drive strategic business outcomes. Most of our commercial relationships are with these channel partners. Beyond technology, we support customers by offering partner success strategies designed to help them better manage their own businesses, deliver service offerings powered by our platform and grow their customer bases. These partner success strategies help drive both retention and expansion as the resources we provide are designed to help our customers better assess and pursue growth opportunities. We serve businesses of all sizes, with a focus on organizations with up to 2,500 employees and the channel partners who support them. This approach aims to extend enterprise-grade security to organizations that often face enterprise-level threats without enterprise-level resources. Our global presence and channel-led strategy power an efficient land-and-expand model. When we add an IT services provider, we generally also add their customers and we grow as the provider adds new customers and delivers new services based on our solutions and when the partner’s customers add devices and services. This approach allows us to scale efficiently. Our customers with annualized recurring revenue, or ARR, over $50,000 on our platform grew from 2,349 as of December 31, 2024 to 2,671 as of December 31, 2025, representing an increase of 13.7%. Over the same period, these customers grew from approximately 57% of our total ARR as of December 31, 2024 to approximately 61% of our total ARR as of December 31, 2025. Our business is global, with 50.4%, 51.8% and 51.2% of our revenue generated outside of the United States for the years ended December 31, 2025, 2024 and 2023, respectively. We generated revenue of $511.4 million, $466.1 million and $421.9 million for the years ended December 31, 2025, 2024 and 2023, respectively, representing increases of 10.5% from the year ended December 31, 2023 to the year ended December 31, 2024 and 9.7% from the year ended December 31, 2024 to the year ended December 31, 2025.…