LifeLock reports record quarterly revenue, membership after slate of data breaches

LifeLock Inc. reported tape quarterly revenue of $129.7 million, up 27 percent year over year, and tape membership as a result of many high-profile data breaches.

Tempe-based LifeLock (NYSE: LOCK), an identity theft protection provider, reported net income of $2.84 million, or 3 cents every share, on revenue of $129.7 million for the fourth quarter that ended Dec. 31.

This compares along with net income of $53 million, or 54 cents every share, on revenue of $102 million, for the fourth quarter of 2013.

LifeLock likewise reported its complete 2014 monetary year, reporting net income of $2.5 million, or 3 cents every share, on revenue of $476 million.

This compares to net income of $54.5 million, or 57 cents every share, on revenue of $369.66 million, for the complete 2013 year.

LifeLock Chairman and CEO Todd Davis said the business is still obtaining tailwinds from last year’s Target data breach, too as the recent Anthem breach, in which short article from 80 million customers was compromised.

“It’s practically been a year of mega breaches,” Davis said in today’s earnings call. “We notice these breaches occur, unfortunately, so regularly people begin looking for solutions, and we’re frequently the beneficiaries of that. We’re checking out some changed behaviors as we’re posting tape numbers of gross brand-new enrollments and checking out our demographics shifting to younger members. I believe the awareness of the concern definitely continues to go up.”

The business had 3.63 million members, up 21 percent year over year.

The fourth-quarter standard revenue every member of $11.43 was up 7 percent from the previous year.

LifeLock likewise announced a $twenty million legal reserve for a feasible settlement along with the Federal Trade Commission after the inquiry in to the company’s compliance along with their 2010 FTC Consent Decree.

Hayley Ringle covers technology and startups for the Phoenix Company Journal.

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