Palo Alto Networks Non-GAAP EPS of $2.39 beats by $0.11, revenue of $1.55B beats by $10M

Aug. 22, 2022 4:07 PM ETPalo Alto Networks, Inc. (PANW)By: Pranav Ghumatkar, SA News Editor14 Comments
  • Palo Alto Networks press release (NASDAQ:PANW): Q4 Non-GAAP EPS of $2.39 beats by $0.11.
  • Revenue of $1.55B (+27.0% Y/Y) beats by $10M.
  • Fiscal fourth quarter billings grew 44% year over year to $2.7 billion. Fiscal year 2022 billings grew 37% year over year to $7.5 billion.
  • Remaining performance obligation grew 40% year over year to $8.2 billion.
  • Board of directors approved a three-for-one stock split.
  • Q1 2023 Outlook: Total billings in the range of $1.68 billion to $1.70 billion, representing year-over-year growth of between 22% and 23%.
  • Total revenue in the range of $1.535 billion to $1.555 billion vs. consensus of $1.54B, representing year-over-year growth of between 23% and 25%.
  • Diluted non-GAAP net income per share in the range of $2.03 to $2.06 vs. consensus of $2.03, using 108 million to 110 million shares outstanding.
  • 2023 Outlook: Total billings in the range of $8.95 billion to $9.05 billion, representing year-over-year growth of between 20% and 21%.
  • Total revenue in the range of $6.85 billion to $6.90 billion vs. consensus of $6.76B, representing year-over-year growth of 25%.
  • Diluted non-GAAP net income per share in the range of $9.40 to $9.50 vs. consensus of $9.29, using 111 million to 113 million shares outstanding.
  • Adjusted free cash flow margin in the range of 33.5% to 34.5%.
  • Achieve positive GAAP net income
  • Shares +5.7%.

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