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Oct 31, 2021
Palo Alto Networks Q1 2022 Earnings Report
Palo Alto Networks' Q1 2022 financial results were reported, showing revenue growth and increased billings and remaining performance obligation.
Key Takeaways
Palo Alto Networks reported a strong start to fiscal year 2022 with a 32% year-over-year increase in revenue to $1.2 billion and a 28% increase in billings to $1.4 billion. The company's remaining performance obligation grew by 37% to $6.0 billion.
Fiscal first quarter revenue grew 32% year over year to $1.2 billion.
Fiscal first quarter billings grew 28% year over year to $1.4 billion.
Remaining performance obligation grew 37% year over year to $6.0 billion.
The company raised its revenue and billings guidance for the year.
Revenue by Segment
Forward Guidance
Palo Alto Networks provides guidance based on current market conditions and expectations. For the fiscal second quarter 2022, we expect: •Total billings in the range of $1.51 billion to $1.53 billion, representing year-over-year growth of between 24% and 26%. •Total revenue in the range of $1.265 billion to $1.285 billion, representing year-over-year growth of between 24% and 26%. •Diluted non-GAAP net income per share in the range of $1.63 to $1.66, using 105 million to 107 million shares outstanding.
Positive Outlook
- Total billings in the range of $1.51 billion to $1.53 billion, representing year-over-year growth of between 24% and 26%.
- Total revenue in the range of $1.265 billion to $1.285 billion, representing year-over-year growth of between 24% and 26%.
- Diluted non-GAAP net income per share in the range of $1.63 to $1.66, using 105 million to 107 million shares outstanding.
- Total billings in the range of $6.675 billion to $6.725 billion, representing year-over-year growth of between 22% and 23%.
- Total revenue in the range of $5.35 billion to $5.40 billion, representing year-over-year growth of between 26% and 27%.
Challenges Ahead
- Diluted non-GAAP net income per share in the range of $7.15 to $7.25, using 106 million to 108 million shares.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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