Palo Alto Networks, Inc. (NYSE:PANW) Q4 2020 Earnings Conference Call - Final Transcript

Aug 24, 2020 • 04:30 pm ET


Palo Alto Networks, Inc. (NYSE:PANW) Q4 2020 Earnings Conference Call - Final Transcript


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David Niederman

Good afternoon, and thank you for joining us on today's conference call to discuss Palo Alto Networks Fiscal Fourth Quarter and Fiscal Year 2020 Financial Results. I'm David Niederman, Vice President, Investor Relations. This call is being broadcast live over the web and can be accessed on the Investors section of our website at

With me on today's call are Nikesh Arora, our Chairman and Chief Executive Officer; Luis Visoso, our Chief Financial Officer; and Lee Klarich, our Chief Product Officer. This afternoon we issued a press release announcing our results for the fiscal fourth quarter ended July 3, 2020. If you'd like to copy of the release, you can access it online on our website.

We would like to remind you that during the course of this conference call, management will make forward-looking statements, including statements regarding the duration and impacts COVID-19 on our business, our customers, the enterprise and cybersecurity industry and global economic conditions, our financial guidance and modeling points for the fiscal first quarter of 2021, our expectations with regard to certain financial results and operating metrics for fiscal year 2021, our competitive position and the demand and market opportunity for our products and subscriptions, benefits and timing of new products, features and

Subscription offerings, including those from our proposed acquisition of The Crypsis Group, ARR and various billings, run rates as well as other financial and operating trends.

These forward-looking statements involve a number of risks and uncertainties, some of which are beyond our control, which could cause actual results to differ materially from those anticipated by these statements. These forward-looking statements apply as of today. You should not rely on them as representing our views in the future, and we undertake no obligation to update these statements after this call. For a more detailed description of factors that could cause actual results to differ, please refer to our quarterly report on Form 10-Q filed with the SEC on May 22, 2020 and our earnings release posted a few minutes ago on our website and filed with the SEC on Form 8-K.

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 have provided reconciliations of these non-GAAP financial measures to GAAP financial measures in the supplemental financial information that can be found in the Investors section of our website located at

And finally, once we have completed our formal remarks, we will be posting them to our Investor Relations website under the Quarterly Results section. We'd also like to inform you that we will be virtually participating in the Citi 2020 Global Technology Conference on September 8, and the Deutsche Bank Technology Conference on September 14.

And with that, I will turn the call over to Nikesh.

Nikesh Arora

Thank you, David. Good afternoon, everyone, and thank you for joining us today for our fiscal fourth quarter and full year 2020 results. I hope you