The cybersecurity equation has evolved beyond merely keeping cloud and on-premises environments airtight.
In the current enterprise environment, there’s now also the question of cost-benefit analysis, especially in today’s challenging economic climate where chief information security officers face tightening budgets. Cybersecurity company Palo Alto Networks Inc. is addressing this pain point, with CEO Nikesh Arora hoping some good will come of the turmoil.
“The silver lining in the current environment is that we’re having more consolidation conversations —because, suddenly, the number one priority in addition to being secure is: ‘Can you help me do that without me increasing costs?’” Arora said in a recent CNBC interview.
From Dec. 13 to 14, theCUBE analysts will be live at the Ignite ’22 event to talk with Palo Alto executives and industry experts about emerging cybersecurity trends and how Palo Alto Networks is leveraging bleeding-edge tech, such as artificial intelligence and machine learning, to support DevOps modernization across cloud-native environments. They’ll also discuss how recent acquisitions and product launches support Palo Alto Networks’ goal to position itself to support emerging demand for cybersecurity alongside cost savings given current market uncertainty. (* Disclosure below.)
A company breakdown
Palo Alto Networks had a strong financial showing in 2022 through midyear, proving the company’s product market demand and its strategic savvy. For the quarter ended April 30, 2022, the company saw a revenue rise of 29% year-over-year, to $1.4 billion, and quarter ended July 31 further improved that number to $1.6 billion.
“Next-Generation Security growth, driven by our rapid pace of innovation and strong sales execution, drove our results,” Arora said in a statement earlier this year. “As cybersecurity posture remains critical, our integrated three-platform strategy continues to drive large deal momentum as we consolidate and simplify our customers’ security architectures.”
Following a better-than-expected fiscal performance so far, the company’s expectations for the full year of 2023 now hovers around the $6.9 billion vicinity, representing year-over-year growth of 25%; and the company’s share price is growing stronger for it.
Acquisitions signal real expansion intent and credentials in the corporate world. And Palo Alto Networks’ recent acquisition of the $195-million-valued cybersecurity startup Cider Security is a strong example. The Israeli-based Cider helps software teams find and resolve vulnerabilities, both in application code itself and the preeminent app development tools.
TheCUBE event livestream
How to watch theCUBE interviews
We offer you various ways to watch theCUBE’s coverage of the Ignite ’22 event, including theCUBE’s dedicated website and YouTube channel. You can also get all the coverage from this year’s events on SiliconANGLE.
TheCUBE Insights podcast
Stay tuned for a complete list of expert guests to appear on theCUBE during our coverage of the Ignite ’22 vent.
(* Disclosure: TheCUBE is a paid media partner for the Ignite ’22 event. Neither Palo Alto Networks, the main sponsor of theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)