Earnings network, Palo Alto Networks (PANW) Q1 2021 Earnings Call Transcript

Quarterly Earnings | Fortinet, Inc.

Prepared Remarks: Karen Fung Good morning, and thank you for joining us on today's conference call to discuss Palo Alto Networks' fiscal first-quarter financial results. I am Karen Fung, senior director of investor relations.

Investor Relations

This call is being broadcast live over the web and can be accessed on the investors section of our website at investors. With me on today's call are Nikesh Arora, our chairman and chief executive officer; Luis Visoso, our chief financial officer; and Lee Klarich, our chief product officer.

This morning, we issued earnings network press release announcing our results for our fiscal first quarter ended October 31, If you would like a copy of the release, you can access it online on our website. We would like to remind you that during the course of this conference call, management will make forward-looking statements including statements regarding the impact of Mityukov trading school on our business, our customers, the enterprise and cybersecurity industry and global economic conditions, our expectations related to financial guidance, operating metrics and modeling points for fiscal second quarter and full year, Expanse's contribution to our fiscal ARR, our expectations regarding the timing of completing our acquisition of Expanse, our competitive position and the demand and opportunity for our products and subscriptions, benefits and timing of new products, features and subscription offerings including those from our proposed acquisition of Expanse as well as other financial and operating trends.

These forward-looking statements involve a number of risks and uncertainties, some of which are beyond our control which could cause actual results to differ earnings network from those anticipated by these statements.

These forward-looking statements apply as of today. You should not rely on them as representing our views in the future, and we undertake no obligation to update these statements after this call.

For a more earnings network description of factors that could cause actual results to differ, please refer to our annual report on Form K filed with the SEC on September 4,and on our earnings release posted a few minutes ago on our website and filed with the SEC on Form 8-K.

Also, please note that certain financial measures we use on this call are expressed on a non-GAAP basis and have been adjusted to exclude certain charges. For historical periods, we have provided reconciliations of these non-GAAP financial measures to GAAP financial measures in the supplemental financial information that can be found in the investors section of our website located at investors.

And finally, once we have completed our formal remarks, we will be posting them to our investor relations website under the quarterly results section.

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Please also see the investors section of our website for additional information about conferences we may be participating in. And with that, I will turn the call over to Nikesh. This is my tenth quarterly call at Palo Alto Networks. The one thing in common between the first and the tenth is they were both 5 a. I finally feel that we're turning the corner on all that we've been doing over the last few years.

We have a lot of interesting stuff in store for you on this call.

Palo Alto Networks (PANW) Q1 2021 Earnings Call Transcript

In addition to sharing our first-quarter results, we will discuss the financial impact of our proposed acquisition of Expanse. Since Luis joined us last quarter, he and I have had the privilege and opportunity to talk to a lot of you. And based on the feedback, we've come up with a more transparent approach to understanding our business. And hopefully, it gives you a better understanding of what we have been up to and a way to think about Palo Alto Networks 2.

Over the last seven months, I've been cautious on the pandemic, and our teams have continued to deliver and surprised me to the upside. I'm earnings network to report this is no longer a coincidence. Our customers are investing, our teams are executing and our strategy earnings network innovating in our firewall business and focusing on the next generation of products around cloud and AI in the industry is working. As you can see, we had a great start to fiscal year as we exceeded guidance across all metrics in Q1.

Here are some of the highlights. The EPS expansion was driven by revenue growth and operating expense leverage due to efficiencies as we have seen across the industry from lower spend associated with travel and events around COVID.

Adjusted free cash flow margin was As mentioned last quarter, we expected a strong cash quarter following the record Q4 billings. We think some of this will continue into the next quarter, but we expect this to normalize for the year around our full-year guidance.

This continued strength during quickly make 25 thousand pandemic makes me cautiously optimistic about the future prospects of the business.

While we expect the winter will try all of our collective resolve with COVID, the worst-case scenarios are unlikely to unfold, and we expect our customers to continue to invest in technology. I also feel that the strategic bets we made a few years ago are right for our customers in the current environment.

Against that backdrop, I feel comfortable raising guidance for the full fiscal year, even before including the contribution of our proposed acquisition of Expanse which we announced last week.

Олвин поразмыслил над. Усталость скрутила его, ноги горели, а мышцы бедер все еще ныли от непривычного усилия. Соблазн плюнуть на путешествие к крепости до следующего раза был слишком велик. Но этого следующего раза могло и не. Под призрачным светом бледнеющих звезд -- немало их погасло с тех пор, как отгремела битва при Шалмирейне -- Олвин боролся с собой и наконец принял решение.

We also expect non-GAAP operating margin adjusted free cash flow expansion up from our prior guidance of flat year over year. We will absorb Expanse's operating expenses within the framework of our guide.

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Let me now highlight some of the key innovation launched in Q1 and the very positive customer traction, starting with our Firewall business. We continue to drive innovation within our firewall business.

Arista Networks (ANET) Q3 2020 Earnings Call Transcript

earnings network We recently extended our new enterprise DLP solution to integrate with our complete firewall earnings network. Our DLP offerings is a cloud-delivered service that is powerful, simple to deploy and protects sensitive data whether a customer keeps the data in the cloud, on-prem or takes a flexible approach.

This launch takes our number of potential attached subscriptions to eight from four just two years ago. Our engineering-level partnership with AWS enabled us to launch this new capability that significantly simplifies deployment, improves the scale and performance and reduces the total cost of ownership of our VM-Series customers.

Going forward, we will continue to provide leading innovation to our customers. One earnings network of this is the upcoming launch of our new 5G-native security offering.

With our unique approach to 5G security, we're the first to introduce 5G network slice security, 5G context-driven security and much more, all earnings network the containerized solution matching the preferred architecture of 5G. Not only will this allow mobile operators to secure their 5G infrastructure, but it will also enable them to launch value-added security services to their growing enterprise customers who are leveraging 5G for many new use cases.

As a result of our efforts to drive innovation, our firewall business continues to earnings network accolades. I'm excited to share that Palo Alto Networks was crowned again as a leader in Gartner's Magic Quadrant for network firewalls.

InvestorNetwork

This is the ninth consecutive time we are the leader in this Magic Quadrant. Once again, we've achieved the highest and furthest overall position in the Magic Quadrant for our ability to execute on our completeness of vision. Not only was our strength in next-generation firewall product capability recognized, but our services, like DLP and focus on cloud security, were cited as trends as well.

In Q1, we were also recognized as a leader in the Forrester Wave zero trust extended ecosystem platform provider report, noting that we have assembled a robust portfolio that delivers zero trust everywhere. On-premise, in the data center and in the cloud. Our software and next-generation firewalls, VM-Series and CN-Series continue earnings network gain momentum as well, and we now have over 10, customers using our software firewalls.

Prepared Remarks: Operator Welcome to the third-quarter Arista Networks financial results earnings conference call.

As SD-WAN has become the primary WAN architecture organizations are demanding solutions with a better user experience while being simpler to deploy and manage. This included new ML-based capabilities to enhance our AI-ops approach and further simplify network operations.

Arista Networks (ANET) Q3 Earnings Call Transcript | The Motley Fool

Two new SD-WAN appliances, a small form factor appliance designed for retail earnings network small offices and home offices and high-performance applications suited -- appliance suited for large campus and data center locations.

Earnings network also delivered the first CloudGenix and Prisma Access integration which seamlessly enables cloud-delivered brand security in just a earnings network clicks.

For many of our customers, COVID accelerated their digital transformation time lines, and we continue to see conversion of remote access trials and very strong pipeline generation. The success earnings network we had with Prisma Access and the strong integration with CloudGenix was a winning combination, and this customer is now a full SASE customer.

Quarterly Earnings | Fortinet, Inc.

Switching to Prisma Cloud. Prisma Cloud is very well positioned for sustainable growth as it is at the heart of the global shift to cloud computing.

Момент для мыслей и раздумий настал - хотел он того или. Но сперва он расскажет Хилвару все, что произошло со времени их поспешного расставания всего два дня. Хилвар выслушал рассказ без комментариев и не требовал пояснений. Казалось, он сразу понимал все, о чем earnings network Элвин, и не удивился, даже услышав о встрече с Центральным Компьютером и об операции, произведенной тем над сознанием робота. Не то чтоб он был лишен способности удивляться: просто история прошлого была полна чудес, вполне сопоставимых с рассказами - Очевидно, - сказал он, когда Элвин кончил говорить, - что при своем создании Центральный Компьютер должен был получить насчет тебя специальные инструкции.

In Q1we launched Prisma Cloud 2. These modules are data security which discovers and protect cloud storage data at a scale and velocity common in public cloud environments and addressing one of the most common data exposure issues in cloud transformation, includes web application and API security which protects web applications from attacks.

Our approach addresses the challenges of deployment complexity and scalability by leveraging the same agent earnings network our container and host security, making it very easy and horizontally scalable. We launched identity-based earnings network segmentation with the integration of Aporeto technology, enabling zero trust security for cloud applications in a cloud-native, identity-based approach. And lastly, IAM Security which allows security teams to gain visibility into effective cloud identity permissions, user activity, implement governance and respond to issues.

Earnings network only recently introduced, we're excited by the strong customer interest we're seeing. To highlight the benefits of our consumption model, we won a high seven-figure deal with a leading technology company to use Prisma Cloud for CSPM for AWS and cloud portal protection. This customer has quickly consumed the workloads purchase, and we're working with them to support the expansion to new clouds and new workloads.

Moving to Cortex.

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Cortex is on its way to being the industry's first proactive security platform, collecting data across the multiple security data sources, earnings network machine learning techniques to detect sophisticated threats before they have advance to succeed and fully automating response for known threats.

We've seen some incredible benefits to customers who adopted Cortex, from customers seeing up to 50 times reduction in alerts to customers automating more than 1 million incidents per day. We continue to drive product innovation with Cortex XDR.

Our recent XDR 2. For example, we introduced Host Insights, our first add-on earnings network for XDR which provides vulnerability assessment, application visibility and our new search-and-destroy feature. And to our knowledge, we are the first XDR product to offer the search-and-destroy capability that will reviews binary options optionbit speed up security response and eliminate the need for additional endpoint agents.

This might be a good time to highlight binary options how to trade for 30 seconds customer win we had recently.

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We won a seven-figure deal, and this is a story we hear every day. The customer earnings network a small SecOps team managing multiple point products that were generating too many alerts with too few resources to investigate every alert, leaving them exposed to advanced threats. Being able to quickly investigate alerts and identify and remediate threats was a critical requirement. Their existing EDR product was disjointed from the rest of the security infrastructure, making it difficult and time-consuming to correlate data.

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