our Good to video we David. earnings joining afternoon. call. earnings appreciate being you call. you a Thank first everyone, experiment I Thank as you, with Zoom patient
I'd to thank months. Before on last employees, for like over our tremendous dedication I partners, and our comment results, suppliers few commitment our the they've shown the
security our who and quarter worked of is to were a teams our teams results last saw prouder lockdown. our ecosystem. able the times be couldn't to world note, And is these be of ensure to environment. I It in met customers, deliver to of strength partner month needs important of the this under tirelessly of this a our in to testament the majority these our uncertain
ordinances. of company, early March, to workforce in Focus of home responded we transition remote without a from the our quickly, work a the XXX% made to As nearly on we hitch. moved well-being ahead we've local employees,
from home. global work securely, are, the mission they matter customers work tools, safely security technologies our where with were well-equipped is to enabling and to whose no With team we the
and how prompted parameters. corporate longer manage network companies hard to they at recent have hardened months, change data teams applications to adjust customers helping been from work home. This in our entire protected working rethink no Our organizations by has
to partner As as served has our Networks always, trusted a Alto Palo customers.
and workers provide teams of Our remote rallied across security locations. expanded customers quickly, encompassing workers thousands infrastructure help multiple to secure
the which from opportunity in have We for look potentially X,XXX forward six using our to even our to just been gratifying. The free continue secure remote the platform. serve feedback customers weeks, enabled has of we trials we in the them, we received past more middle And have customers areas access, over of March. to across
Alto call have a terms Financial same offered have company Additionally, vein, by we Alto payment within transaction our our terms. with financing Networks large, closed launched the customer some we Palo multi-year flexible Networks the and flexible extended financially and multinational a financing for ever In enterprise Services, customers with to created or of looking solutions quarter, options financial for as our offer end the large we impacted customer, customers financing been Palo that at it first payment will to PANFS, We of engagements. products LLC, services, the supporting COVID-XX. providing
elaborated on and changes feel path Given I ourselves those how preparing are view and around to us, company, available a it's published our our our the are in current and as occurring stockholders, Investor Relations environment I've website. today, letter of the the fundamental views a that we is to articulate forward. important we
over touch me here. Let on a few highlights
industry pandemic We XX ride our over months, will next to have customers expect few to XX before And new expect enterprise a return last nine the this and the a we normal. months. to shock cybersecurity bumpy
successful start than be more economy others. to emerge, the reopening for likely to strategies As the some
in over XX to Given be a working others will office, next into FLEXWORK come our essential while few With we're our our to of months, way announcing FLEXWORK, a Alto many offices. they to how encouraged Palo employees XX will choose the Networks. wish outlook for spend new days
regulations choosing priority. The ensure of is employees and distancing office, employees our safety social will are to our health local all followed. For top safety we and in the work
mobile surely we a and with supporting on Let's all to We those In impact largest are see These balance will workforce focus consumer sheets behavior consumer industry cloud-based changes poised will become believe trends. even and industries, winners the losers. companies in strong industry, will the larger. companies and benefit.
To three-fourths of will we envisioned. success, Fortune expect which transformation. yet Fortune their new to investments. to future we companies XXX that certainly showed technological CEOs A by businesses ensure their survey will the We force accelerate believe crisis businesses recent magazine accelerate their technology see have their not emerge,
relied work that and physical have transformation should will presence accelerate become more automation infrastructures remote cloud technology focus necessary will most The and on upon transitions. Businesses organizations. robust, across
a will support the to to need networking As consequence, architecture transformation change the cloud. to
traditional is the rush Data accelerate Let's and move cybersecurity. in criminals. as talk about cloud accelerated cyber will the InfoSec the of The attention outlook delivered to in for cloud services breaches This their will brought many increased posture to centers. organizations DevOps security attracting drive security yet and that not cloud of need investment, for to multi-cloud the have cloud, environments. the their their in cloud hybrid-cloud technologies the especially level data secure
in an realize primarily physical remote and as or held of opportunity by and Edge to the Moving finally in physical offices coming area work, vision away recently networks. data framework. Gartner, will to and also cloud This wide their emphasizing SASE, new detailed of from centers the redesign Service provides together, prompt relying Secure networking the security long network Access
by cloud across to their cloud opportunity consistent reality, that of in physical, securing automating product with an numbers software are to this virtual as needed new provide as entire infrastructure The implemented provide a physical and the single effective across security reduce and as point moving significantly the the vendors, from organizations of endpoint a network solution to for cybersecurity platforms, to platform security well cloud, service, security and delivered, infrastructure, operations. moving changes
regardless anticipate. secure integrated transformation the data well offering automated we proposition largest enterprise security more world, in and solutions the As should is, company where the to position us our security it for
is even advantage Our before. to stronger more and come goal leverage through this resilient unprecedented our and than event,
our to 'XX turn QX Let's results.
of pleased pandemic, our the of performance. the in second Fiscal QX billings the year-over-year. XX% of quarter company's As $X.XX extremely history, our I with think I'm about highest an results billion, with in context this was increase
impacted that COVID-XX-related shutdowns, the the quarter exciting. was this result Given more even is half by
an like A Networks, Alto share with figure company working as strength our expanding approach that by support customer quarter also deal security. on deals as to a base. few We're comprehensive proof-of-concept our the cloud demonstrated and I'd to well agreement. with extensive this the multi-year a installed their a commitment enterprise Fortune Palo for security, of XX to in key a power illustrate in
We continue a partner security highlighted this we that strategic QX. role retailer to U.S. in as our fiscal of solidify QX and
deal selection part their This a where another of for figure seven agreements the as operation again additional large-scale transformation validating security project, quarter, they Cortex XSOAR VM-Series, we center. XSOAR for won continuous purchased enterprise licenses, their
chassis. York deal new Access, and figure seven next Cortex generation major expanded with line a won a Prisma healthcare purchasing Prisma Alto Networks provider, adding existing Data Lake firewall by Cloud, New Palo with to VM-Series, cards We who
months good challenges made behind We grew of now at security improvement platform our in pillars three of Let's firewall year. faced product which XX% with first now year-over-year. We the are on We we challenges an our our starting a those saw in believe billings, look as offerings, six fiscal Strata. the the us. that progress
growth our which expect we X%. We the growth the X% as of to exceed is platform to firewall market, believe a
with industry average return a delighted growth. we're So to above
different to network migrate good next won, figure firewall. together education A government deal Palo state our brought a seven Networks agency three that example to of Alto we both quarter ministries, the this success Strata was in network of and a European generation the
it access, adds remote by customers turning we to subscription firewall. X,XXX environment, quarter our COVID-XX added In our and work subscription. on this our we In saw GlobalProtect more remote solution, to customers some than this GlobalProtect of enable
to community example more The this within them seamlessly. was a hospital simplicity scale of an make enabled their solution environment and entire to access remote quickly, XX As their even research clinical and transition solution, for able securely leading hours. user of importantly, robustness this to provide
differentiate this system, in the features features machine around new functionality IoT. that we some We intelligence, category. firewall for learning, including to including and launch in new from and will our subscription us operating continue Coming further artificial a mid-June, industry competition, innovate will first
saw quickly provides some of Prisma all workers you now which scale Access, weeks for a number and of the had secure Prisma, in top cases deals a the as of and billings, played quarter evals. types matter security record workers, days. remote terms helping organizations we're delivered of custom Moving cloud in call, at in this closed or commercial that in of remote to we
helping remote our the capacity, enable enterprise scaled the last Access overnight. global customers three few their In prison, workforces times months effortlessly Prisma aggregate over
and As again XX,XXX working company possible made quickly, an example, large remotely, went Access. Prisma to XX,XXX base oil by remote users a from gas very a user
platform, service. as April, a the to convergence delivered CloudGenix, cloud in SASE In the provide completed of capabilities acquisition most comprehensive the security SASE, a network we and the industry's of strategic decision
to listening of solution. Access a installed to integrated After CloudGenix end-to-end to deliver valuable together acquisition Networks. believe they two our approach Palo Alto bringing for the base, customer Prisma is the our of technology combined best be with that right partner we prove CloudGenix, our possible SASE Before platforms solution were a will customers. the
further will This remote the CloudGenix SASE a will by the solution integrating product the seamless SD-WAN model. branches, enterprise and our customers. to with our shift enhance of towards Prisma stores remote end-to-end retail onboarding platform the Access, intelligent providing We accelerate expediting combination SASE
We product, believe SD-WAN CloudGenix continue as so customers will next XXXX. existing own enhance our we choices, late launched giving to product in firewall that our as based in we SD-WAN well generation both the
customers branch delivered premise in the is a security SD-WAN strategy our able Therefore, cloud will heavy whichever we our implement them. support two-pronged with where will the Our branch. SD-WAN with believe on is to where from SD-WAN customers or for the cloud to is architecture, the be flexibility branch provide security thin in or right for
to and on the to positions focuses which deliver as the fully Access phase offering, integration security requirements. of end begun transformation integrated first calendar expect simplification user We've network best-in-class we its of The extending ability acquisition the this solution SASE experience, towards a year. the Prisma of address
the expect XX and CloudGenix the combined for over We $XXX Access total months. billings Prisma next approximately million to
Not to exceeded had another plan. be out done, their and record quarter setting Prisma Cloud
XX we In two XXX. Fortune Prisma X,XXX XX with XX% global companies. of representing We of quarter telcos now than alone, CPG Prisma Cloud two of XX% the the two top Cloud deals and U.S. won and of of the acquired X,XXX this more XX, Fortune the the global have top customers,
cloud Cloud most release of recent stack. any the security any Our lifecycle DevOps Prisma across or extend
platforms to for continue tools applications, vision and to four a most infrastructure. Gartner software we protection our cloud management times capabilities in the their recent of protect embrace security as As posture and Prisma report recognizes highlighting vendor. converge, than data offer any workload Cloud development, enterprises cloud modern
acquired we Prisma IM follow. to segmentation We functionality add data including capabilities, will continue the and soon micro Aporeto and and security, with to security, Cloud, innovate security to application
management our SOC remote the to Cortex, model. operations remote without our company made our operations Cortex security time level or case of We also XSOAR transitioned collaboration, transition the center security leveraged workforce, run we to us remotely, for real finally as And to automation, allowing sacrificing security.
more the has been and existing our XSOAR their remote been never SOC important, workforce Enabling transition we've remote hearing seamless. customers been has to that from
functions critical they fraud information European remote summer As executives leveraged a prevention ensure region, fraud escalations, automate including in -- affecting and Cortex and bank higher SecOps the an their alerts. When example, tasks, the to began a to routine order analysts to Cortex advanced systems deployed have the the alerts. in the XSOAR remote focus to automate from on more level respond pandemic combat XSOAR needed to teams
Cortex security we XDR, to we second Cortex evaluation vendor, than attack recently, conducted are MITRE, of no group, higher their gain to technique The continue announce industry proud coverage no testing vendor recognition. XDR. achieved and independent In round that terms
come here have a We XDR. long way with Cortex in
XXXX. little launched cybersecurity Gartner and unified cloud. and a trends the as months endpoint offering ago, has response. Six first XDR now than through endpoint experience traps year endpoint one detection creating customer security we engineered the ago, we response and spanning from our A XDR of platform holistic Cortex network it the top with of security industry's more included detection extended offering, merged a
come strong managed continuing successfully unified to from capabilities experience. to for a have XDR, XDR the Cortex all them We console expect, customer offer they've now superior user prevention upgraded traps Cortex to
customer's service. part a comprehensive of and from will our of have in mind. additional are the this GA we platform our on Through security, have of customers powerful hunters ongoing the today team, they XX platform Unit of As efforts most down hunting will service, the some also detection XDR only but supervision best not response threats, to our the announce managed provide to comprehensive of industry, upcoming proud hunting research threat the our threat using the peace
excited. I'm
offerings billing. of at We have year representing these collectively or made Today Generation as areas a total XX% NGS business, Security $XXX ago, billings are Next to billings. great collective of the of made half over on and progress in our to these million, up approximately NGS. X% newer our our year An track referred end approximately total
approximately or ARR NGS the Additionally, was in million QX, annual 'XX. recurring revenue $XXX
this these tailwinds QX the performance, to fiscal quarter it business. will While will year a how But QX. this be experienced impact sustainable 'XX final be. truer we're The continue our some will pleased benefits in be with of in likely crisis test degree we should QX of our seen remains how to will
see in to a have cut, many budgets down facing is been the industries trickle to is you where quarter few shape customers out monitor we is. some the way spending evolve as our going daily of them scenario spending into many a and a IT slowed. imagine financial closely, has as on are severe impact, In basis. It know, deals as security push form did We have difficult environment but it or that not spending, including to important in
anticipated Kathy guidance strong and QX. to to very the fiscal in But moment. our upcoming will both speak quarter performance quarter driven performance our guidance, our environment, our fourth this full by XXXX raise we're a in year considering pleased
our is Day impact it and this the withdraw when Regarding year the guidance subject the during September, of outlook we we Analyst three more shared to that prudent clear. feel revisit crisis past this longer-term
executed doing quickly employees. transition for right home, the to we summary, the In from working thing
an to business remote feel we and we new SASE. Prisma We CloudGenix well-positioned with leader in be related are working are industry seeing to
security working strategy with from of validation number world's the cloud largest customers. a is Our
upcoming momentum the With our we for continued IoT security launch, expect services. see to
to be We COVID-XX businesses economies our a expect the recover over seek bumpy an we business. expect benefit quarters, accelerated transition and of next to a do from as the cloud to ride the net But crisis. few
a however, have, prudent in financially ourselves manner. We prepared
invest optimistic cautiously continue are and to We wisely.
leader. a position continues be global our to as cybersecurity to out goal Our a cement stronger come as and
employees extend who to thanks want again, work dedication, are to customers our in to trust their Once hard and placing I our and their partners, us. for
get this as as through and company, a globally. a We nation will
We to hard bonds strengthen I'm and ourselves have opportunity the and have lead our the honored through to Palo compassion. people opportunity improve the at work to amazing Alto Networks.
that, With will the to turn call I Kathy. over
