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Jun 30, 2021
NetScout Q1 2022 Earnings Report
NetScout's first-quarter performance provided a solid start to fiscal year 2022, driven by strong product revenue growth in both Service Assurance and Cybersecurity product lines, which contributed to improved diluted earnings per share compared to the same quarter in the prior fiscal year.
Key Takeaways
NETSCOUT's first quarter fiscal year 2022 showed a year-over-year revenue increase driven by strong product revenue growth in both the Service Assurance and Cybersecurity product lines. The company's GAAP net loss was $11.3 million, or $0.15 per share (diluted), while non-GAAP net income was $15.0 million, or $0.20 per share (diluted).
Total revenue was $190.3 million, compared to $183.8 million in the same quarter one year ago.
Product revenue was $82.0 million, compared to $71.7 million in the same quarter last year.
Service revenue was $108.3 million, compared to $112.1 million for the same period one year ago.
Cash, cash equivalents, and short and long-term marketable securities were $493.9 million as of June 30, 2021.
Revenue by Segment
Forward Guidance
NETSCOUT is reiterating its (GAAP and non-GAAP) revenue outlook as well as its non-GAAP diluted net income per share outlook issued on May 6, 2021. The Company is updating its GAAP diluted net income per share range to take into account accelerated charges associated with the early amendment of its revolving credit facility, higher stock-based compensation cost including the new performance-based restricted stock units discussed in its recently issued 2021 Proxy Statement, and amortization of an acquired trade name intangible asset.
Positive Outlook
- GAAP and non-GAAP revenue expectations remain in the range of $835 million to $865 million.
- GAAP net income per share (diluted) is now expected to be in the range of $0.36 to $0.42 vs. the prior outlook range of $0.44 to $0.50.
- Non-GAAP net income per share (diluted) expectations remain in the range of $1.71 to $1.77.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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