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Palo Alto Networks
🇺🇸 NYSE:PANW
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•
Jan 31, 2022

Palo Alto Networks Q2 2022 Earnings Report

Reported revenue growth of 30% year over year to $1.3 billion.

Key Takeaways

Palo Alto Networks announced financial results for its fiscal second quarter 2022, ended January 31, 2022. Total revenue for the fiscal second quarter 2022 grew 30% year over year to $1.3 billion. Non-GAAP net income for the fiscal second quarter 2022 was $185.0 million, or $1.74 per diluted share.

Fiscal second quarter revenue grew 30% year over year to $1.3 billion

Fiscal second quarter billings grew 32% year over year to $1.6 billion

Remaining performance obligation grew 36% year over year to $6.3 billion

Raising guidance for the year across revenue, billings, and earnings per share

Total Revenue
$1.32B
Previous year: $1.02B
+29.5%
EPS
$0.58
Previous year: $0.52
+11.5%
Gross Profit
$912M
Previous year: $709M
+28.5%
Cash and Equivalents
$1.92B
Previous year: $2.11B
-9.0%
Free Cash Flow
$443M
Total Assets
$10.4B
Previous year: $9.49B
+9.6%

Palo Alto Networks

Palo Alto Networks

Palo Alto Networks Revenue by Segment

Forward Guidance

For the fiscal third quarter 2022, we expect: Total billings in the range of $1.59 billion to $1.61 billion, representing year-over-year growth of between 24% and 25%. Total revenue in the range of $1.345 billion to $1.365 billion, representing year-over-year growth of between 25% and 27%. Diluted non-GAAP net income per share in the range of $1.65 to $1.68, using 106 million to 108 million shares outstanding.

Positive Outlook

  • Total billings in the range of $1.59 billion to $1.61 billion, representing year-over-year growth of between 24% and 25%.
  • Total revenue in the range of $1.345 billion to $1.365 billion, representing year-over-year growth of between 25% and 27%.
  • Diluted non-GAAP net income per share in the range of $1.65 to $1.68, using 106 million to 108 million shares outstanding.
  • Total billings in the range of $6.80 billion to $6.85 billion, representing year-over-year growth of between 25% and 26%.
  • Total revenue in the range of $5.425 billion to $5.475 billion, representing year-over-year growth of between 27% and 29%.

Challenges Ahead

  • developments and changes in general market, political, economic, and business conditions
  • the duration and global impact of COVID-19
  • risks associated with managing our growth
  • risks associated with new products and subscription and support offerings, including the discovery of software bugs
  • shifts in priorities or delays in the development or release of new subscription offerings, or the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support offerings

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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