SAN JOSE, Calif., Nov. 9, 2021 /PRNewswire/ -- Broadcom Inc.
(Nasdaq: AVGO), a global technology leader that designs, develops
and supplies semiconductor and infrastructure software solutions,
today held a Broadcom Software Investor Day, providing an in-depth
overview of its infrastructure software and security software
solutions.
"Broadcom is continuing to build one of the world's leading
enterprise software businesses committed to customer success," said
Tom Krause, President, Broadcom
Software Group. "We continue to invest in our targeted model of
partnering with the largest multinational customers to provide a
comprehensive portfolio of industry-leading solutions and generate
sustainable revenue. With an addressable market today of more than
$100 billion, Broadcom Software has
significant opportunities to capitalize on a clear customer need
for scalability, agility and security to power their most complex
hybrid IT environments and accelerate our long-term growth."
At today's event, Broadcom Software highlighted its:
- Business model highly focused on strategic customers
leveraging multiple solutions to drive revenue sustainability and
growth: Complimentary product portfolio across
infrastructure and security software serving 80% of the Fortune 500
and maximizing partnerships with strategic customers, who represent
more than 70%1 of annual recurring revenue and
approximately 80%2 of whom are licensed to five or more
software solutions.
- Strong recurring revenue base: Broadcom Software
generates approximately $5.2
billion3 in annual recurring revenue, of which
more than half4 is subscription and has increased more
than 25% over the last three quarters. To drive improved
visibility, Broadcom Software has grown both average deal duration
by increasing multiyear bookings as well as the number of deals
that represent more than $1 million
of annualized booking value5.
- Successful history of integrating acquired companies and
businesses with mission-critical products: Broadcom Software
has a successful history of integrating acquired companies and
businesses with mission-critical products toward Broadcom's goal of
building one of the world's leading enterprise software
businesses.
Webcast Replay
To access a replay of today's Broadcom Software Investor Day and
presentation materials, visit Broadcom's Investor Relations website
at https://investors.broadcom.com/ under Events &
Presentations.
About Broadcom Inc.
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that
designs, develops and supplies a broad range of semiconductor and
infrastructure software solutions. Broadcom's category-leading
product portfolio serves critical markets including data center,
networking, enterprise software, broadband, wireless, storage and
industrial. Our solutions include data center networking and
storage, enterprise, mainframe and cyber security software focused
on automation, monitoring and security, smartphone components,
telecoms and factory automation. For more information, go to
https://www.broadcom.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements, including
statements as to our priorities and goals, business strategy,
performance and market opportunities, industry trends, and products
and technology development, that are based on our current
expectations and beliefs, assumptions made by and information
currently available to our management, current market trends and
market conditions and that involve risks and uncertainties, many of
which are outside our control and may cause actual results to
differ materially from those statements. Many of these risks and
uncertainties are and will be exacerbated by the COVID-19 pandemic
and any worsening of the global business environment as a result.
Accordingly, you should not place undue reliance on such
statements.
Our recent filings with the Securities and Exchange Commission,
including Broadcom's most recent reports on Forms 10-K and 10-Q,
include these and other factors that may affect our business,
results of operations and financial condition. We undertake no
intent or obligation to publicly update or revise any of the
estimates and other forward-looking statements made in this
announcement, whether as a result of new information, future events
or otherwise, except as required by law.
Contact:
Ji Yoo
Broadcom Inc.
Investor Relations
408-433-8000
investor.relations@broadcom.com
(AVGO-Q)
1 ARR (annual recurring revenue) calculations exclude
perpetual licenses, hardware, and professional services. Data as of
8/3/2021.
2 Concentration based on ARR (annual recurring revenue),
which excludes perpetual licenses, hardware, and professional
services. Data as of 8/3/2021. Represents >$25k in each solution to qualify.
3 Calculations based on Q3'FY2021 last 12 months.
4 Calculations based on ARR (annual recurring revenue).
Calculations exclude perpetual licenses, hardware, and professional
services. Data as of 8/3/2021.
5 Bookings figures exclude professional services and
overages. Data for Strategic customers only.
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SOURCE Broadcom Inc.