Palo Alto Networks, Inc. (NASDAQ:PANW) Q1 2025 Earnings Call Transcript November 20, 2024 4:30 PM ET
Company Participants
Walter Pritchard - SVP of IR and Corporate Development
Nikesh Arora - Chairman and CEO
Dipak Golechha - CFO
Lee Klarich - CPO
Conference Call Participants
Saket Kalia - Barclays
Brad Zelnick - Deutsche Bank
Hamza Fodderwala - Morgan Stanley
Brian Essex - JPMorgan
Joe Gallo - Jefferies
Matt Hedberg - RBC
Gregg Moskowitz - Mizuho
Rob Owens - Piper Sandler
Gray Powell - BTIG
Andy Nowinski - Wells Fargo
Fatima Boolani - Citi
Roger Boyd - UBS
Walter Pritchard
Good day, everyone, and welcome to Palo Alto Networks First Quarter 2025 Earnings Conference Call. I'm Walter Pritchard, Senior Vice President of Investor Relations and Corporate Development. Please note that this call is being recorded today, Wednesday, November 20th, 2024, at 1.30 p.m. Pacific Time.
With me on today's call to discuss first quarter results are Nikesh Arora, our Chairman and Chief Executive Officer; and Dipak Golechha, our Chief Financial Officer. Following our prepared remarks, Lee Klarich, our Chief Product Officer, will join us for the question-and-answer portion. You can find the press release and other information to supplement today's discussion on our website at investors.paloaltonetworks.com. While there, please click on the link for quarterly results to find the 1Q ‘25 supplemental information and 1Q ‘25 earnings presentation.
During the course of today's call, we will make forward-looking statements and projections regarding the company's business operations and financial performance. These statements made today are subject to a number of risks and uncertainties that could cause our actual results to differ from these forward-looking statements. Please review our press release and recent SEC filings for a description of these risks and uncertainties. We assume no obligation to update any forward-looking statements made in the presentation today.
This presentation contains non-GAAP financial measures and key metrics relating to the company's past and expected future performance. Non-GAAP financial measures should not be considered a substitute for financial measures prepared in accordance with GAAP. The most directly comparable GAAP financial metrics and reconciliations are in the press release and the appendix of the investor presentation. Unless otherwise noted today, all results and comparisons are on a fiscal year-over-year basis. We also note that management is scheduled to participate in the UBS Global Technology Conference.
I will now turn the call over to Nikesh.
Nikesh Arora
Thank you, Walter. Good afternoon and thank you everyone for joining us today for our earnings call. We're delighted to report a strong start to fiscal year 2025. In our first quarter of focusing on RPO and NGS ARR, we saw strength in both metrics and saw them perform well ahead of our expectations. The market for cybersecurity continues to be robust and continues to grow faster than the overall technology market. Despite the acceleration of technology spend due to AI, cybersecurity continues to [out space] (ph) technology spend.