Press release
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
About this update from Palo Alto Networks, Inc.
[{"type":"text","content":"- Fiscal first quarter revenue grows 23% year over year to $946.0 million\n - Fiscal first quarter billings grows 21% year over year to $1.1 billion\n - Deferred revenue grows 31% year over year to $3.9 billion\n\n\nSANTA CLARA, Calif., Nov. 16, 2020 /PRNewswire/ -- Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today financial results for its fiscal first quarter 2021, ended October 31, 2020.\nTotal 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.\nNon-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.\n\"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.\"\nFinancial OutlookPalo Alto Networks provides guidance based on current market conditions and expectations.For the fiscal second quarter 2021, we expect:\nTotal billings in the range of $1.17 billion to $1.19 billion, representing year-over-year growth of between 17% and 19%. Total revenue in the range of $975 million to $990 million, representing year-over-year growth of between 19% and 21%. Diluted non-GAAP net income per share in the range of $1.42 to $1.44, using 98 million to 100 million shares.For the fiscal year 2021, we are raising guidance and expect:\nTotal billings in the range o...