PANW reported results 8/25

Listened to the PANW call. I think the results bode well for the upcoming CRWD results. 80% of PANW’s business is hardware/firewall based and it’s growing revenue at around 17%. Their SW defined cloud security business is 20% of their business and it’s growing at 85%. Some things that were said that are relevant to CRWD:

  1. customers are trying to save money

  2. cloud adoption is increasing

  3. it’s difficult to get new HW based security business because people are not in the office

  4. cloud and SW based security give companies a lower TCO and better security because updates are instantly implemented to all customers in the cloud rather than requiring customers to get updated on their end

  5. PANW is continuously replacing their HW based business to SW defined and cloud products/services; in FY2020 their next-gen security offerings grew 105% while the market for HW based security solutions is growing in the low single digits

  6. PANW expects to continue to make acquisitions to fuel growth and further switch away HW/firewall solutions

The above boses well for CRWD in the short and long term.

Here is a link to the PANW Q4 2020 results:…


results were reported yesterday on 8/24, not 8/25

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