"Broadcom is continuing to build one of the world's leading enterprise software businesses committed to customer success," said
At today's event,
- 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 billion 3 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
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
Contact:
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 >
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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