Palo Alto Networks Posts Revenue of $335M, up 54% YoY

Palo Alto Networks reported record revenue of $334.7 million for the fiscal second quarter 2016, up 54 percent compared with total revenue of $217.7 million for the fiscal second quarter 2015. GAAP net loss for the fiscal second quarter 2016 was $62.5 million, or $0.72 per diluted share, compared with GAAP net loss of $43.0 million, or $0.53 per diluted share, for the fiscal second quarter 2015.

“We reported strong fiscal second quarter results across all metrics, including record revenue of $334.7 million, which increased 54 percent year-over-year. We are proud to now be serving more than 30,000 customers globally who are rapidly adopting the prevention capabilities of our Next-Generation Platform to achieve superior security, simplify their networks and greatly improve total cost of ownership,” said Mark McLaughlin, president and chief executive officer of Palo Alto Networks.

“During the quarter we saw broad adoption of all aspects of our Next-Generation Security Platform with particular strength in our subscription services,” said Steffan Tomlinson, chief financial officer of Palo Alto Networks. “Our results demonstrate our commitment to balancing high growth and profitability as well as the increasing strength in free cash flow from our hybrid-SaaS model.”

Palo Alto Networks also announced the appointment of Frank Calderoni to its board of directors. He also will be joining the board’s audit committee. Calderoni currently is executive vice president, operations and CFO of Red Hat Inc. From May 2004 to January 2015, he held various positions at Cisco Systems, including executive vice president and CFO.

https://www.paloaltonetworks.com