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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.
Palo Alto Networks
Palo Alto Networks
Palo Alto Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com 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.
- Guidance excludes amortization expense of acquired intangible assets.
- Guidance excludes litigation-related charges.
- Guidance excludes non-cash charges related to convertible notes.