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Jul 31, 2020
Palo Alto Networks Q4 2020 Earnings Report
Palo Alto Networks reported strong Q4 2020 results with revenue growth driven by strong execution and success in next-gen security.
Key Takeaways
Palo Alto Networks' fiscal fourth quarter revenue grew 18% year over year to $950.4 million. The company's billings grew 32% year over year to $1.4 billion. GAAP net loss for the quarter was $58.9 million, or $0.61 per diluted share, while non-GAAP net income was $144.9 million, or $1.48 per diluted share.
Fiscal fourth quarter revenue grew 18% year over year to $950.4 million.
Fiscal fourth quarter billings grew 32% year over year to $1.4 billion.
GAAP net loss for the fiscal fourth quarter was $58.9 million, or $0.61 per diluted share.
Non-GAAP net income for the fiscal fourth quarter was $144.9 million, or $1.48 per diluted share.
Revenue by Segment
Forward Guidance
For the fiscal first quarter 2021, Palo Alto Networks expects total billings in the range of $1.03 billion to $1.05 billion, representing year-over-year growth of between 15% and 17%. Total revenue is expected to be in the range of $915 million to $925 million, representing year-over-year growth of between 19% and 20%. Diluted non-GAAP net income per share is expected to be in the range of $1.32 to $1.35, using 99.0 million to 101.0 million shares.
Positive Outlook
- Total billings are expected to grow between 15% and 17% year-over-year.
- Total revenue is expected to grow between 19% and 20% year-over-year.
- Diluted non-GAAP net income per share is expected to be in the range of $1.32 to $1.35.
- The company anticipates continued success in next-gen security.
- The acquisition of The Crypsis Group will enhance the Cortex XDR platform.
Challenges Ahead
- Guidance excludes share-based compensation-related charges.
- Guidance excludes acquisition-related costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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