- Revenue: $1.66B, +17.3% YoY
- Record GAAP operating margin of 35%
- Service revenue grew 17.2% YoY to $1.09B
CEO Ken Xie: "In the fourth quarter, we successfully balanced growth and profitability as our non-GAAP operating margin increased 720 basis points year-over-year to a company record of 39%, while revenue grew 17%. We continue to execute our strategy of investing in the high-growth Unified SASE and Security Operations markets, while strengthening our position in Secure Networking."
🌱Revenue & Growth
- Total revenue: $1.66B, +17.3% YoY
- Product revenue: $574M, +17.6% YoY
- Service revenue: $1.09B, +17.2% YoY
- Total billings: $2.00B, +7.4% YoY
- Unified SASE ARR: $1.12B, +27.9% YoY
- Security Operations ARR: $422.4M, +32.2% YoY
💰Profits & Financials
- GAAP operating margin: 34.6% vs 27.2% YoY
- Non-GAAP operating margin: 39.2% vs 32.0% YoY
- Free cash flow: $380M vs $164.8M YoY
- Cash and investments: $4.07B
- Deferred revenue: $6.36B, +10.9% YoY
📌Business Highlights
- Ranked #7 on Forbes Most Trusted Companies in America 2025 list
- Only cybersecurity company in top 50
- Acquired Lacework Inc in Q3 2024
🔮Future Outlook
Q1 2025 Guidance:
- Revenue: $1.50B-$1.56B
- Billings: $1.52B-$1.60B
- Non-GAAP operating margin: 30.0%-31.0%
FY2025 Guidance:
- Revenue: $6.65B-$6.85B
- Service revenue: $4.58B-$4.73B
- Billings: $7.20B-$7.40B
