Trend Micro Inc
(MEX:4704N)
MXN
1,120.16
(0%)
Market Cap: 74.28 Bil
Enterprise Value: 49.55 Bil
PE Ratio: 18.80
PB Ratio: 5.84
GF Score: 91/100 
Q2 2026 Trend Micro Inc Earnings Presentation Transcript
Aug 13, 2026 / 07:00AM GMT
Release Date Price:
MXN1120.16
Key Points
Positve
- Trend Micro Inc (TMICF) reported strong top-line growth with net sales up 13% and ARR growth improving to 5% year-over-year, up from 3% in Q1.
- Vision One, the company's flagship AI-driven platform, saw ARR surge 49% year-over-year to $615 million, with a strong net revenue retention rate of 122%.
- The company is making strategic investments in AI infrastructure, including sovereign AI zones and GPU-based data lakes, positioning itself for future growth in AI-native cybersecurity.
- Trend Micro Inc (TMICF) is seeing early success in new business areas, such as digital life protection (ARR up 52%) and automotive/robotics cybersecurity, with 45 customers and growing.
- Management is confident in achieving its 2028 targets, citing improving ARR momentum, a strong pipeline, and the expectation that temporary cost increases will subside in the second half.
Negative
- Operating income plummeted 54% year-over-year due to a 29% increase in costs, driven by heavy investments in AI, cloud infrastructure, and internal transformation.
- Cloud and AI-related expenses surged, with cost per SaaS ARR rising to $0.14 from $0.13, reflecting inefficiencies from new service launches and infrastructure setup.
- The company revised its full-year guidance downward for operating income, ordinary income, and net income, citing higher-than-expected investment costs.
- North America, particularly the US, is experiencing ARR growth headwinds, with the region struggling compared to Europe and EMEA.
- The company faces ongoing transition costs from consolidating workloads between hyperscalers and duplicating operations during the shift from CPU to GPU, which will continue to pressure margins in the near term.
Mahendra Negi
Trend Micro Incorporated - Vice President, Group Chief Financial Officer, Representative Director
(interpreted) Thank you. This is Negi speaking. And I
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