Palo Alto Networks, Inc. (NYSE:PANW) Q4 2019 Earnings Conference Call Transcript

Sep 04, 2019 • 04:30 pm ET

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Palo Alto Networks, Inc. (NYSE:PANW) Q4 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Please welcome, Vice President of Investor Relations, David Niederman.

Executive
David Niederman

Hello. Thanks for coming, we really appreciate it. Good afternoon, I am David Niederman Vice President of Investor Relations at Palo Alto Networks. Thanks for joining us today to discuss our Fiscal Fourth Quarter and Full Year 2019 Results. This meeting is being broadcast live over the web and can be accessed on our Investor Relations section of our website at investors.paloaltonetworks.com.

Earlier this afternoon, we issued a press release announcing our results for our fiscal fourth quarter and full year ended July 31, 2019. We also provided a script of certain fiscal fourth quarter and full-year 2019 financial results and operating metrics along with applicable reconciliations as exhibits to a current report on Form 8-K filed with the SEC earlier this afternoon. Copies of these materials can also be found on the Investors section of our website.

I'd like to remind you that management will be making forward-looking statements, including statements regarding our near and long-term financial guidance and strategy as well as modeling points for Q1'20 and full year fiscal 2020. Please kindly take a moment to review the Safe Harbor language provided with the meeting materials, 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 provided reconciliations of these non-GAAP financial measures to GAAP financial measures in the supplemental financial information that can be found at the end of the presentation and the investor section of our website located at investors.paloaltonetworks.com. On stage with us today will be Nikesh Arora, our Chairman and Chief Executive Officer; Kathy Bonanno, our Chief Financial Officer; Lee Klarich, our Chief Product Officer; and Nir Zuk, our Chief Technology Officer. We will have a Q&A forum at the end of the financial presentation.

And with that, I'll turn it over to Kathy.

Executive
Kathy Bonanno

Hi everyone, thank you so much for coming today, I look a smattering of applause how nice, I appreciate that. Thank you. Thank you all very, very much for coming today, we appreciate your interest in Palo Alto Networks. We have a lot to cover today, and so I'm just going to get right into it. I'm going to start by providing a quick overview of our fiscal Q4 results for the fiscal year 2019 and full year results. Nikesh will then come up and he'll walk you through our strategy and our operating framework for the next three years, and then Lee Klarich and Nir Zuk will take you through our product strategy and I'll return to cover forward-looking guidance at the end.

So let's turn now to fiscal fourth quarter 2019 which capped-off another great year for Palo Alto Networks. In the quarter, we grew revenue 22% year-over-year to approximately $806 million. Quarterly billings crossed the billion-dollar mark, a first in the Company's history. And our performance in Prisma and Cortex or as we refer to them collectively as