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Palo Alto Networks Reports Fiscal Fourth Quarter and Fiscal Year 2020 Financial Results

SANTA CLARA, Calif., Aug. 24, 2020 /PRNewswire/ --A Palo Alto Networks (NYSE: PANW), the global cybersecurity leader, announced today financial results for its fiscal fourth quarter and fiscal year 2020, ended July 31, 2020.Total revenue for the fiscal fourth quarter 2020 grew 18% year over year to $950.4 million, compared with total revenue of $805.8 million for the fiscal fourth quarter 2019. GAAP net loss for the fiscal fourth quarter 2020 was $58.9 million, or $0.61 per diluted share, compared with GAAP net loss of $20.8 million, or $0.22 per diluted share, for the fiscal fourth quarter 2019.Non-GAAP net income for the fiscal fourth quarter 2020 was $144.9 million, or $1.48 per diluted share, compared with non-GAAP net income of $146.9 million, or $1.47 per diluted share, for the fiscal fourth quarter 2019. A reconciliation between GAAP and non-GAAP information is contained in the tables below."We had a strong finish to our fiscal year, with fourth quarter billings accelerating to 32% year-over-year growth, driven by strong execution, work-from-home tailwinds, and continued success in next-gen security," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "Earlier today we announced the proposed acquisition of The Crypsis Group, a leading incident response firm. Once the transaction closes, The Crypsis Group will complement our Cortex XDR platform with best-in-class incident response, forensic, and consulting capabilities. In addition to being able to predict and prevent cyberattacks, Cortex will be able to mitigate the impact of any breach that our customers may face."Financial Outlook
Palo Alto Networks provides guidance based on current market conditions and expectations.
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