Palo Alto Networks Reports Fiscal First Quarter 2021 Financial Results
•Fiscal first quarter revenue grows 23% year over year to $946.0 million
•Fiscal first quarter billings grows 21% year over year to $1.1 billion
•Deferred revenue grows 31% year over year to $3.9 billion
SANTA CLARA, Calif. - November 16, 2020 - Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today financial results for its fiscal first quarter 2021, ended October 31, 2020.
Total revenue for the fiscal first quarter 2021 grew 23% year over year to $946.0 million, compared with total revenue of $771.9 million for the fiscal first quarter 2020. GAAP net loss for the fiscal first quarter 2021 was $92.2 million, or $0.97 per diluted share, compared with GAAP net loss of $59.6 million, or $0.62 per diluted share, for the fiscal first quarter 2020.
Non-GAAP net income for the fiscal first quarter 2021 was $158.1 million, or $1.62 per diluted share, compared with non-GAAP net income of $104.8 million, or $1.05 per diluted share, for the fiscal first quarter 2020. A reconciliation between GAAP and non-GAAP information is contained in the tables below.
“We delivered another consecutive strong quarter of solid results, with first quarter billings of 21% year-over-year growth; both our firewall transformation and our Next-Generation Security services continue to make great progress, giving us confidence to raise previously issued guidance for the year,” said Nikesh Arora, chairman and CEO of Palo Alto Networks. “We introduced several significant product enhancements across the portfolio and were recognized by industry analysts as a leader in two Gartner Magic Quadrants as well as Zero Trust. Additionally, we are excited about our proposed acquisition of Expanse, Inc., which we announced last week.”
Palo Alto Networks provides guidance based on current market conditions and expectations.
The following information was filed by Palo Alto Networks Inc (PANW) on Monday, November 16, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: PANW CIK: 1327567 Form Type:10-Q Quarterly Report Accession Number: 0001327567-20-000041 Submitted to the SEC: Thu Nov 19 2020 5:00:59 PM EST Accepted by the SEC: Thu Nov 19 2020 Period: Saturday, October 31, 2020 Industry: Computer Peripheral Equipment