Todd Davis, CEO of Lifelock Inc (LOCK), and Chris Power, CFO, presented the company’s plan to increase shareholder value at the 34th Annual Canaccord Genuity Global Growth conference in Boston last week.
With guided revenues expected to reach nearly $500 million by 2014 year-end, the company has seen 30% year-over-year growth since 2010, Power said.
Power also reported on the company’s unit economics, noting gross margins at 73% year-end 2013, with an overall goal of 75% to 77% long-term. EBITDA is in the double digits, at 11.4% of revenue, where just three years ago it was in the negative, he said.
“We believe in the five-year time frame we can take EBITDA to the 25%-level percentage of income,” Power said.
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CEO Todd Davis introduced a new suite of services for customers: LifeLock Standard, LifeLock Advantage and LifeLock Ultimate Plus. This now makes Lifelock the most comprehensive identity protection service available today, Davis said.
“We’re four to five times the purchase consideration of our next closest competitor,” he said. “This new suite of offerings clearly differentiates us from traditional credit monitoring” as it addresses the potential threat before it happens across all product lines, from credit cards to retirement and investment accounts.
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