Palo Alto Networks hits sales of $1.6B, up 25% yoy

Palo Alto Networks reported total revenue for $1.6 billion for its fiscal first quarter 2023, ended October 31, up 25% year compared with total revenue of $1.2 billion for the fiscal first quarter 2022. GAAP net income for the fiscal first quarter 2023 was $20.0 million, or $0.06 per diluted share, compared with GAAP net loss of $103.6 million, or $0.35 per diluted share, for the fiscal first quarter 2022. Non-GAAP net income for the fiscal first quarter 2023 was $266.4 million, or $0.83 per diluted share, compared with non-GAAP net income of $170.3 million, or $0.55 per diluted share, for the fiscal first quarter 2022. 

"Our growth in Q1 was driven by customers continuing to increase their commitments to our security platforms as they are able to choose our best-of-breed capability and simplify their security architecture," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "We are focused on expanding the breadth of our offerings and our pace of innovation to continue to drive share gains in the cybersecurity market."

"We exceeded our top-line guidance while generating $1.2 billion in free cash flow and expanding our operating margins," said Dipak Golechha, chief financial officer of Palo Alto Networks. "We will continue to balance growth with profitability and cash generation to further strengthen our position in the market."

https://investors.paloaltonetworks.com/news-releases/news-release-details/palo-alto-networks-reports-fiscal-first-quarter-2023-financial

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Palo Alto Networks sees rapid growth in SASE

Palo Alto Networks reported revenue of $1.2 billion for its fiscal fourth quarter 2021, ended July 31, 2021, compared with total revenue of $950.4 million for the fiscal fourth quarter 2020. GAAP net loss for the fiscal fourth quarter 2021 was $119.3 million, or $1.23 loss per diluted share, compared with GAAP net loss of $58.9 million, or $0.61 per diluted share, for the fiscal fourth quarter 2020.

Non-GAAP net income for the fiscal fourth quarter 2021 was $161.9 million, or $1.60 per diluted share, compared with non-GAAP net income of $144.9 million, or $1.48 per diluted share, for the fiscal fourth quarter 2020. A reconciliation between GAAP and non-GAAP information is contained in the tables below.

"Our strong Q4 performance was the culmination of executing on our strategy throughout the year, including product innovation, platform integration, business model transformation and investments in our go-to-market organization," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "In particular, we saw notable strength in large customer transactions with strategic commitments across our Strata, Prisma and Cortex platforms."  

https://www.paloaltonetworks.com/company/press/2021/palo-alto-networks-reports-fiscal-fourth-quarter-2021-financial-results

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Google Cloud launches Cloud IDS with Palo Alto Networks

Google Cloud introduced a Cloud IDS service that delivers cloud-native, managed, network-based threat detection. The service was built with Palo Alto Networks' threat detection technologies.

Google Cloud said customers can leverage Cloud IDS to gain deep insight into network-based threats and to support industry-specific compliance goals that call for the use of an intrusion detection system.  Cloud IDS has visibility into traffic to and from the Internet. It can also monitor east-west traffic, which includes both intra- and inter-VPC communication for suspicious lateral movement. 

Additionally, because Cloud IDS is an end-to-end cloud-native solution, customers can leverage an extensive, continually updated, built-in catalog of attack signatures from Palo Alto Networks’ threat analysis engine to detect the latest threats, as well as anomaly detection for unknown threats. 

https://cloud.google.com/blog/products/identity-security/detect-complex-network-threats-with-cloud-ids

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AT&T delivers managed SASE from Palo Alto Networks

AT&T announced a new, global managed Secure Access Service Edge (SASE) offering in collaboration with Palo Alto Networks.

AT&T SASE with Palo Alto Networks brings together software-defined wide area networking (SD-WAN) technology, security capabilities and fiber-based network connectivity. AT&T also brings expertise in design configuration, deployment, and 24/7 management from a single provider.

AT&T SASE with Palo Alto Networks is immediately available through AT&T Business.

"To drive innovation throughout the hyper-connected enterprise, customers are looking for a simplified solution for network and security. As one of the largest MSSPs, AT&T is collaborating with Palo Alto Networks to offer a comprehensive, managed SASE solution that helps enable new user experiences at the edge," states Rupesh Chokshi, VP, AT&T Cybersecurity.

"More and more organizations are moving to Zero Trust architectures to deliver a continuous and consistent security experience that covers data, devices, and end-users who are in the office, at home, or on the go. By bringing Palo Alto Networks' SASE solution together with AT&T Cybersecurity's managed security services, we are delivering an integrated solution to help organizations achieve optimal access with the highest levels of security," says Kumar Ramachandran, SVP Products, Palo Alto Networks.

https://www.paloaltonetworks.com/blog/2021/06/att-launch-managed-sase/

AT&T Cybersecurity launches Managed SASE with Fortinet

Tuesday, March 09, 2021  AT&T, Fortinet, SASE, SD-WAN  

AT&T launched managed Secure Access Service Edge (SASE) powered by Fortinet.AT&T SASE with Fortinet is a global managed SASE solution at scale that unifies software-defined wide-area network (SD-WAN) with essential network security functions of the SASE framework and 24x7 management. As the largest SD-WAN Managed Service Provider in North America, and one of the world’s largest Managed Security Services Providers (MSSPs), AT&T said...

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DISH picks Palo Alto Networks to help secure 5G network

DISH Network has selected Palo Alto Networks to help secure its upcoming cloud-native, OpenRAN-based 5G wireless network.

DISH will leverage Palo Alto Networks for container security, secure network slicing, real-time threat correlation and dynamic security enforcement. DISH will use Palo Alto Networks' industry-first, cloud-native security offering, including the VM-series and CN-series Next-Generation Firewalls, as well as Prisma Cloud. Financial terms were not disclosed.

"As part of our efforts to revolutionize wireless connectivity, it's imperative that we integrate security into our 5G network from the ground up. As a result, we are incorporating innovative, next-generation vendors to provide our network with 5G-native security solutions from day one of deployment," said Marc Rouanne, Chief Network Officer, DISH. "Palo Alto Networks is a leading security provider that excels  at safeguarding enterprises, mobile networks and cloud platforms."

"5G promises much more than increased browsing speeds on mobile devices. When built as a secure network, 5G can bring massive business transformation and enable smart supply chains, autonomous transportation, smart manufacturing, mass adoption of the Internet of Things and much more," said Lee Klarich, Chief Product Officer, Palo Alto Networks. "This is why we are delighted to help DISH achieve its vision to build a first-of-its-kind, open, secure 5G network."

http://www.paloaltonetworks.com

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Palo Alto Networks to acquire Bridgecrew

Palo Alto Networks agreed to acquire Bridgecrew, a developer-first cloud security company, for approximately $156 million in cash. 

Bridgecrew, which is based in San Francisco, is a pioneer in shift left, focusing on infrastructure as code (IaC), where infrastructure configuration is codified during development. The company’s developer-first IaC security platform offers developers and DevOps teams a systematic way to enforce infrastructure security standards throughout the development lifecycle. The proposed acquisition will enable Prisma Cloud to provide developers with security assessment and enforcement capabilities throughout the DevOps process.

Bridgecrew’s open-source IaC scanner, Checkov, has gained significant early traction with developers, surpassing 1 million downloads in 2020 — its first full year of availability. 

"Shift left security is a must-have in any cloud security platform. Developers don’t want to wait until runtime to find out their security is not working, and the CISO charged with protecting the entire organization certainly values higher security from fixing issues earlier in the development lifecycle. We are thrilled to welcome Bridgecrew, and their widely adopted and trusted developer security platform, to Palo Alto Networks. When combined, Prisma Cloud customers will benefit from having security embedded in the very foundation of their cloud infrastructure," says Nikesh Arora, chairman and CEO of Palo Alto Networks.

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Palo Alto Networks responds to SolarStorm

In a company blog post, Nikesh Arora, CEO of Palo Alto Networks, writes: "We will soon be talking about this as one of the most serious cyberattacks in history. Tainted updates to SolarWinds Orion software were distributed for months before they were identified, positioning attackers to obtain administrative privileges and establish long-term network access – potential for a complete compromise of an organization by malicious actors. We must come together to defend against an attack of this magnitude."

Also discussed in the posting:

• Palo Alto Networks itself experienced an attempt to download Cobalt Strike on one of its IT SolarWinds servers, but its Cortex XDR instantly blocked the attempt with our Behavioral Threat Prevention capability and our SOC isolated the server.
• Due to the disclosures on December 13, the company has reanalyzed its entire infrastructure extensively one more time to ensure that it has not been compromised.
• Arora remains confident that Palo Alto Networks continues to be secure.
• Palo Alto Networks is now offering a free SolarStorm rapid assessment to determine if customers have been compromised by this threat actor.

https://blog.paloaltonetworks.com/2020/12/solarwinds-statement-solarstorm/

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Palo Alto Networks to acquire The Crypsis Group

Palo Alto Networks agreed to acquire The Crypsis Group, a leading incident response, risk management and digital forensics consulting firm, for $265 million in cash.

The Crypsis Group's more than 150 security consultants have handled some of the most complex and significant cybersecurity incidents, responding to more than 1,300 security engagements per year. The company was named one of the Top 10 Digital Forensics Services Companies of 2019 and 2020 by Enterprise Security magazine.

Palo Alto Networks already provides prevention, detection and response capabilities through its Cortex XDR. The addition of The Crypsis Group's security consulting and forensics capabilities will strengthen Cortex XDR's ability to collect rich security telemetry, manage breaches and initiate rapid response actions. The Crypsis Group's experts and insights will also fuel the Cortex XDR platform with a continuous feedback loop between incident response engagements and product research teams to prevent future cyberattacks. The company expects to integrate The Crypsis Group's processes and technology into Cortex XDR to further enhance its ability to safeguard organizations at every stage of the security lifecycle.

"The proposed acquisition of The Crypsis Group will significantly enhance our position as the cybersecurity partner of choice, while expanding our capabilities and strengthening our Cortex strategy. By joining forces, we will be able to help customers not only predict and prevent cyberattacks but also mitigate the impact of any breach they may face," said Nikesh Arora, chairman and CEO of Palo Alto Networks.

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Palo Alto Networks' revenue grows 18% yoy to $950M

Palo Alto Networks reported revenue of $950.4 million for its fiscal fourth quarter 2020, ended July 31, 2020, up 18% year over year, 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."

https://investors.paloaltonetworks.com/investor-relations/overview/default.aspx

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Palo Alto Networks to acquire CloudGenix for $420M

Palo Alto Networks agreed to acquire CloudGenix, an SD-WAN start-up based in San Jose, California, for approximately $420 million in cash.

CloudGenix is known for its AppFabric SD-WAN technology, which ensures application-specific, service-level agreements (SLAs). The CloudGenix SD-WAN platform serves approximately 250 customers, many of which are in the Fortune 1000 and include companies in healthcare, retail, manufacturing, finance, banking, tech and hospitality. CloudGenix co-founders, Kumar Ramachandran, Mani Ramasamy and Venkataraman Anand, have agreed to join Palo Alto Networks.

Palo Alto Networks offers its own Prisma secure access service edge (SASE) platform, delivering a global cloud network with cloud-delivered security for users. The company plans to integrate CloudGenix's cloud-managed SD-WAN products to accelerate the intelligent onboarding of remote branches and retail stores into Prisma Access.  This combination will extend the breadth of the Prisma Access SASE platform, address network and security transformation requirements, and accelerate the shift from SD-WAN to SASE.

"As the enterprise becomes more distributed, customers want agile solutions that just work, and that applies to both security and networking. Upon the close of the transaction, the combined platform will provide customers with a complete SASE offering that is best-in-class, easy to deploy, cloud-managed, and delivered as a service," states Nikesh Arora, chairman and CEO, Palo Alto Networks.

"CloudGenix's vision has been to revolutionize branch offices through cloud-delivered Autonomous WANs. With CloudGenix, enterprises gain cloud-scale economics for the branch office with the freedom to use any WAN, any cloud, and best-of-breed infrastructure services. We thank our customers for making us an industry leader in enterprise SD-WAN. By joining forces with Palo Alto Networks, we will accelerate our ability to serve customers and partners in their network and security transformation," said Kumar Ramachandran, co-founder and CEO, CloudGenix

• CloudGenix raised over $100 million in funding. Investors included Bain Capital Ventures, Charles River Ventures, Mayfield Fund, Intel Capital, and ClearSky. 

CloudGenix enhances SD-WAN with CloudBlades software

Wednesday, June 26, 2019  CloudGenix, SD-WAN  

CloudGenix announced a major upgrade to its SD-WAN platform with the launch of new "CloudBlade" cloud-delivered software.

CloudBlades enable additional SD-WAN capabilities, such as security, voice, multi-cloud access, and operational tools, to be delivered to a branch office without additional hardware or software.

CloudGenix said its approach differs from traditional enterprise branch office routers which require the installation of additional hardware blades or software. The cloud-delivered software approach brings cloud-scale economics and agility.  CloudBlades enables one-click, high-performance delivery of the above infrastructure services from the cloud, using best-of-breed providers in each category.

“As businesses take advantage of the tremendous opportunity at the branch, they need a new model for the delivery of infrastructure services,” said Kumar Ramachandran, founder and CEO at CloudGenix. “Our CloudBlades platform allows enterprises to reimagine what’s possible. Not only do customers get the agility and freedom to choose best-of-breed, they also get to take advantage of cloud-scale economics. The days of the multi-function hardware router are officially at an end.”

CloudBlades includes the following components:

• The CloudGenix Instant-On-Network (ION) is Intel x86-based, lightweight CPE at the branch, this serves as the branch enforcement point for CloudBlades, and can simultaneously host CloudGenix’s SD-WAN products.
• The CloudBlades Platform enables API based integration of the branch CPE directly with various cloud infrastructure services. It provides secure, authenticated API access to CloudGenix CPE and systems; a centralized API for programming the app-flow engine at the CPE; integration with the CloudGenix UI without any code; access to CloudGenix telemetry; and the hosting of approved CloudBlades.
• Individual CloudBlades are created by CloudGenix as well as by partners, customers and other developers. The company is currently supporting more than twenty CloudBlades across various infrastructure services, including with Palo Alto Networks, Zscaler, CheckPoint, Symantec, Microsoft, Google, Equinix, Amazon, RingCentral, ServiceNow, PagerDuty, Slack, Fuse, Zoom etc. 
• To enable proactive IT, CloudGenix is supporting CloudBlade solutions with ServiceNow, PagerDuty, CloudGenix Clarity and Slack.

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Palo Alto Networks to acquire Aporeto for microsegmentation tech

Palo Alto Networks agreed to acquire Aporeto, a start-up specializing in machine identity-based microsegmentation technology, for approximately $150 million in cash.

Aporeto identifies workloads and applies microsegmentation across all infrastructures, helping customers secure their applications at scale. The company says its identity-based microsegmentation secures cloud applications by preventing East – West lateral movement and automating security policy for heterogeneous hybrid-cloud infrastructure

Aporeto co-founders Dimitri Stiliadis and Satyam Sinha have agreed to join Palo Alto Networks. The company is based in San Jose, California.

"We are thrilled to welcome Aporeto to the Palo Alto Networks family. We believe the addition of Aporeto’s unique machine identity technology will further enhance our leading Prisma Cloud capabilities and strengthen our commitment to helping customers secure their journey to the cloud," commented Nikesh Arora, chairman and CEO, Palo Alto Networks.

"We have dedicated ourselves to helping organizations securely embrace the cloud. Teaming up with Palo Alto Networks allows us to bring our machine identity-based microsegmentation technology to a large customer base. We are thrilled to join forces to help customers secure their journey to the cloud," stated Dimitri Stiliadis, co-founder and CTO, Aporeto.

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Citrix enhances its SD-WAN via partnership with Palo Alto Networks

Citrix is collaborating with Palo Alto Networks to enable easy deployment and management of next-generation firewalls within Citrix SD-WAN.

“Applications and workloads are migrating to the cloud at a very aggressive rate and security needs to follow them,” said Chalan Aras, Vice President, SD-WAN and Intelligent Traffic Management, Citrix. “With Palo Alto Networks, we can deliver an advanced SD-WAN security solution that enables companies to protect users, data and applications across branches, data centers and public clouds in a simple, flexible way.”

With the integration of the Palo Alto Networks VM-Series virtual next-generation firewalls and Prisma Access with the Citrix SD-WAN solution (formerly NetScaler SD-WAN), distributed enterprises can enhance their network and cloud protection.

Capabilities include:

• Build and enforce consistent access control policies based on applications and users across network and cloud
• Automate provisioning of Palo Alto Networks VM-Series next-generation firewall (NGFW) on the Citrix 1100 appliance, as a virtual network function (VNF)
• Automate connections to Palo Alto Networks Prisma Access cloud-based firewalls for consistent policy enforcement
• Streamline provisioning of multi-layer security services from Citrix SD-WAN Orchestrator, available via Citrix Cloud
• Apply security zone segmentation to protect users, applications, and data

“In today’s hybrid, multi-cloud world, security needs to be as agile as your applications, data and users,” said Adam Geller, senior vice president, Products, Palo Alto Networks. “Together with Citrix, we can deliver an integrated set of products that provide a consistent level of protection to users across the network and both public and private clouds.”

http://www.citrix.com/sdwan

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Palo Alto Networks to acquire Twistlock and Puresec

Palo Alto Networks announced two acquisitions: Twistlock, a specialist in container security, and PureSec, a leader in serverless security.

Twistlock, which is based in Portland, Oregon, combines vulnerability management, compliance, and runtime defense for cloud-native applications and workloads. The company serves more than 290 customers, with more than a quarter on the Fortune 100 list. Twistlock co-founders, Ben Bernstein and Dima Stopel, will join Palo Alto Networks. Palo Alto Networks will pay approximately $410 million in cash to acquire Twistlock. Investors in Twistlock included ICONIQ Capital, YL Ventures, TenEleven, Rally Ventures, Polaris Partners and Dell Technologies Capital. The company raised about $63 million in total funding over several rounds.

"Our vision for a cloud-native security platform is a natural fit with Palo Alto Networks cloud strategy. We have liked-minded teams, and we’re looking forward to accelerating our ability to serve customers and partners on their cloud-native journey together," stated Ben Bernstein, co-founder and CEO, Twistlock.

PureSec, which was founded in 2016 and is based in Tel Aviv, specializes in serverless security. The company provides end-to-end security for serverless functions that cover vulnerability management, access permissions, and runtime threats. PureSec co-founders, Shaked Zin, Ory Segal, and Avi Shulman, will join Palo Alto Networks. Terms of the PureSec transaction were not disclosed.

Palo Alto Networks said the acquisitions will further advance the company’s ability to offer the most complete and comprehensive cloud security suite in all critical areas of cloud security.

"Today marks another exciting step forward in our commitment to offering our customers the industry's most complete cloud security offering. We believe that our acquisition of these leading companies will significantly enhance our ability to be the cybersecurity partner of choice for our customers, while expanding our capabilities and strengthening our Prisma cloud security strategy," stated Nikesh Arora, chairman and CEO of Palo Alto Networks.

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Palo Alto Networks debuts "Prisma" Cloud Security Suite

Palo Alto Networks unveiled its Prisma cloud security suite to provide business customers with access, data protection, and application security.

The Prisma suite consists of four key components:

• Prisma Access secures access to the cloud for branch offices and mobile users anywhere in the world with a scalable, cloud-native architecture, blending enterprise-grade security with a globally scalable network. It will soon run on Google Cloud Platform (GCP™), extending the service to more than 100 locations for an even faster and more localized experience. Customers will also have access to a streamlined cloud management user interface (UI) that enables rapid onboarding of branches and users. In addition, Prisma Access will include capabilities specifically designed for service providers to enable the rapid provisioning of secure outbound internet connectivity for their customers.
• Prisma Public Cloud provides continuous visibility, security, and compliance monitoring across public multi-cloud deployments. Powered by machine learning, it correlates data and assesses risk across the cloud environment. Starting today, customers can further reduce their attack surface early in the development cycle through a "shift left" approach to security. With the ability to detect vulnerabilities and fix improper configurations in customers' infrastructure-as-code templates, developers can reduce risk without sacrificing agility. 
• Prisma SaaS is a multi-mode cloud access security broker (CASB) service that safely enables SaaS application adoption. It provides advanced capabilities in risk discovery, adaptive access control, data loss prevention, compliance assurance, data governance, user behavior monitoring, and advanced threat prevention. New integrations will bring improved administration experience across IT-sanctioned and IT-unsanctioned SaaS applications with unified visibility and management.
• VM-Series is the virtualized form factor of the Palo Alto Networks Next-Generation Firewall that can be deployed in private and public cloud computing environments, including Amazon Web Services (AWS), GCP, Microsoft Azure, Oracle Cloud, Alibaba Cloud, and VMware NSX. The VM-Series is also enhanced through infrastructure-as-code automation for deployment and configuration, which reduces complexity for customers.

http://www.paloaltonetworks.com/prisma

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Palo Alto Networks hits quarterly revenue of $726.6

Palo Alto Networks reported revenue of $726.6 million for its fiscal third quarter 2019, ended April 30, 2019, up 28 percent year over year. GAAP net loss for the fiscal third quarter 2019 was $20.2 million, or $0.21 per diluted share, compared with GAAP net loss of $40.4 million, or $0.44 per diluted share, for the fiscal third quarter 2018.

Non-GAAP net income for the fiscal third quarter 2019 was $130.1 million, or $1.31 per diluted share, compared with non-GAAP net income of $100.0 million, or $1.04 per diluted share, for the fiscal third quarter 2018.

"Our team continues to execute on our plan and deliver robust results. The excitement around our new products is incredible and will only grow once customers have a chance to experience it for themselves," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "Both Twistlock and PureSec will be important additions to helping protect our customers' journey to the cloud. Combining their capabilities with Prisma, our leading cloud security suite, is a huge win for all of our customers."

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Palo Alto Networks appoints Lorraine Twohill and Sir John Key to Board

Palo Alto Networks announced the appointment of Lorraine Twohill, chief marketing officer at Google, and the Right Honorable Sir John Key, former member of Parliament and prime minister of New Zealand, to the company's board of directors.

Lorraine Twohill currently leads global marketing for all of Google's products and services. She is responsible for managing the company's brand and bringing Google's products to life for billions of users every day. Previously, she ran marketing at Google for Europe, the Middle East and Africa, and helped build the company's European business and operations. Prior to joining Google, Lorraine held various positions, including head of marketing at European travel site Opodo and general manager Northern Europe for the Irish Tourist Board. In 2018, she was named the Cannes Lions Creative Marketer of the Year, using her platform to advocate for greater representation of women in the advertising industry.

Sir John will bring to the board extensive experience in foreign affairs, investment banking and finance. He was a member of Parliament for Helensville in New Zealand until April 2017 and served as prime minister of New Zealand from November 2008 to December 2016. Prior to his political career, Sir John spent nearly 20 years in international finance, primarily for Bankers Trust of New Zealand and Merrill Lynch in Singapore, London and Sydney.

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Palo Alto Network posts revenue of $656 million, up 31%

Palo Alto Networks reported revenue for its fiscal first quarter 2019, ended October 31, 2018, of $656 million, up 31 percent year over year compared with total revenue of $501.8 million for the fiscal first quarter 2018. GAAP net loss for the fiscal first quarter 2019 was $38.3 million, or $0.41 per diluted share, compared with GAAP net loss of $63.2 million, or $0.70 per diluted share, for the fiscal first quarter 2018.

Non-GAAP net income for the fiscal first quarter 2019 was $115.4 million, or $1.17 per diluted share, compared with non-GAAP net income of $70.3 million, or $0.75 per diluted share, for the fiscal first quarter 2018. A reconciliation between GAAP and non-GAAP information is contained in the tables below.

"We had an excellent start to the fiscal year that highlights the continued strength of our platform," said Nikesh Arora, chief executive officer of Palo Alto Networks. "Our approach of providing best-in-class security products, combined with automation and integration to remove complexity, continues to resonate with customers. The completion of our RedLock acquisition during the quarter marks another important step forward in our cloud security strategy. We expect to deliver an integrated offering early next year that combines RedLock's technologies with our existing cloud security products to help our customers secure their mobile workforce, protect the public cloud and stop advanced threats."

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Palo Alto Networks to acquire RedLock for $173M

Palo Alto Networks agreed to acquire RedLock, a cloud threat defense company, for approximately $173 million in cash.

RedLock's Cloud 360 platform takes an AI-driven approach that correlates disparate security data sets to provide visibility, detect threats, and enable rapid response across an organization’s public cloud environment, including  Microsoft Azure, Google Cloud Platform, and AWS.  RedLock is based in Menlo Park, California. RedLock co-founders Varun Badhwar (previously co-founded CipherCloud) and Gaurav Kumar (previously Software Architect at CipherCloud), will join Palo Alto Networks.

Palo Alto Networks notes that it already provides a broad security offering for multi-cloud environments with inline, host-based, and API-based security, which was bolstered by the acquisition of Evident.io in March 2018. The company currently serves more than 6,000 cloud customers globally with its cloud security portfolio that includes VM-Series next-generation firewall, Aperture, Evident, and GlobalProtect cloud service. Palo Alto Networks now plans to combine the Evident and RedLock technologies to provide customers with cloud security analytics, advanced threat detection, continuous security, and compliance monitoring in a single offering anticipated early next year.

"We are thrilled to add RedLock’s technology to our cloud security offerings. The addition of their technologies allows us to offer the most comprehensive security for multi-cloud environments, including Amazon Web Services, Google Cloud Platform and Microsoft Azure, and significantly strengthens our cloud strategy going forward," stated Nikesh Arora, chairman and CEO of Palo Alto Networks.

https://redlock.io/

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Palo Alto Networks hits revenue of $658.1 million, up 29% yoy

Palo Alto Networks posted total revenue of $658.1 million for itsfiscal fourth quarter 2018, up 29 percent year over year.  This compares with total revenue of $509.1 million for the fiscal fourth quarter 2017. GAAP net loss for the fiscal fourth quarter 2018 was $2.3 million, or $0.02 per diluted share, compared with GAAP net loss of $38.2 million, or $0.42 per diluted share, for the fiscal fourth quarter 2017.

Non-GAAP net income for the fiscal fourth quarter 2018 was $125.0 million, or $1.28 per diluted share, compared with non-GAAP net income of $85.5 million, or $0.92 per diluted share, for the fiscal fourth quarter 2017. A reconciliation between GAAP and non-GAAP information is contained in the tables below.

"We had a strong fourth quarter, continuing our global momentum at a growth rate that outpaces our peers and the cybersecurity market," said Nikesh Arora, chief executive officer of Palo Alto Networks. "Enterprises are in the early stages of the cloud revolution. This poses new security challenges for businesses worldwide. We are becoming the strategic partner of choice to help businesses embrace the cloud and protect their digital information by reducing complexity and providing the same level of consistency, integration, and automation that we brought to network security."

"We are pleased with the strong finish to our fiscal fourth quarter and the year," said Kathy Bonanno, chief financial officer of Palo Alto Networks. "Our revenue growth in the fourth quarter was solid across all regions, with particular strength in EMEA and APAC, each growing more than 40 percent year over year. We delivered on the bottom line as well, generating record cash flow from operations and free cash flow of $252.5 million."

• Product revenue for Q4 amounted to $267.6 million
• Subscription revenue for Q4 amounted to $390.5 million

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Palo Alto Networks names Nikesh Arora as CEO and Chairman

Palo Alto Networks named  Nikesh Arora as its new CEO and chairman of the Board of Directors, succeeding Mark McLaughlin, who becomes vice chairman of the Board for Palo Alto Networks.

Arora formerly served as president and chief operating officer at SoftBank and as chief business officer at Google, where he led more than 20,000 employees, and developed a substantial track record of driving innovation and delivering business success. He joined Google in 2004.

Arora has degrees from Indian Institute of Technology (BHU) Varanasi, Boston College, and Northeastern University.

"The company is executing extremely well and is the clear leader in next-generation security. Over the course of several quarters, I have been discussing succession planning with the Board and I couldn't be more pleased that we have found a leader in Nikesh who is ideally suited to take the company on the next leg of its journey. I look forward to working with Nikesh as we transition and serving as vice chairman of the Board," stated Mark McLaughlin.

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