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Bitcoin, Ethereum, Dogecoin Spike As Equities, Dollar Weaken: Is It Time For A Crypto Relief Rally?

Bitcoin, Ethereum, and other major coins rose Thursday evening as fears of a bear market in equities and a weaker dollar increased the appeal of the apex coin. The global cryptocurrency market cap rose 4.8% to $1.3 trillion. read more.....»»

Category: blogSource: BENZINGA1 hr. 18 min. ago Related News

Elon Musk Engaged In Sexual Misconduct With SpaceX Flight Attendant, Company Paid $250,000 In Settlement: Report

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk's SpaceX paid a flight attendant $250,000 to settle a sexual misconduct claim against the billionaire entrepreneur in 2018,  Business Insider read more.....»»

Category: blogSource: BENZINGA1 hr. 18 min. ago Related News

Veritas Farms Launches New Full Spectrum CBD Functional Product Line

Veritas Farms, Inc. (OTCQB: VFRM) launched new purpose-built product line designed to target a wide variety of common health conditions, supported with additional dietary supplements. read more.....»»

Category: blogSource: BENZINGA1 hr. 18 min. ago Related News

Firebird Delivery Launches Across Ontario, Including Rush Delivery

Fire & Flower Holdings Corp. (OTCQX: FFLWF) (TSX:FAF) launched Firebird Delivery in Toronto, Kingston, London, Ottawa, Oshawa, Guelph, and North Bay, Ontario. read more.....»»

Category: blogSource: BENZINGA1 hr. 18 min. ago Related News

Panaxia Recieves Production License Of Medical Cannabis Products In Malta

Panaxia Global, the controlling owner of Panaxia Malta (operations) Ltd., a global pharma company that develops, manufactures and markets advanced medical cannabis products of pharmaceutical quality, has received an official license from the health authorities in Malta to manufacture finished medical cannabis products. read more.....»»

Category: blogSource: BENZINGA1 hr. 18 min. ago Related News

NGEx Minerals Reports Q1 2022 Results

VANCOUVER, BC, May 19, 2022 /CNW/ - NGEx Minerals Ltd. (TSXV:NGEX) ("NGEx Minerals" "NGEx" or the "Company") is pleased to report its results for the three months ended March 31, 2022. View PDF. Q1 2022 HIGHLIGHTS Drilling at Los Helados (Region III, Chile) confirms continuity of high-grade mineralization within gaps in the previous drill pattern and confirms extension of high-grade core; and Initial 8-hole drill campaign at Valle Ancho (Catamarca Province, Argentina) discovers a new copper-gold porphyry system and expands near-surface oxide gold zone. Commenting on the results Wojtek Wodzicki, President and CEO stated, "The initial results from the ongoing brownfield drill program at Los Helados have confirmed continuity of the high-grade core of the deposit and extension of this high-grade material in multiple areas. Infilling the high-grade zone and testing areas for potential extension are critical first steps for unlocking value at Los Helados as the Company moves towards refining its geological model and ultimately evaluating alternate development and mine planning strategies. We also completed our first greenfield drill campaign at the Valle Ancho copper-gold project in Catamarca Province, Argentina during the first quarter. The resulting discovery of a near-surface copper-gold porphyry system and expansion of a separate oxide gold zone have demonstrated the prospectivity that exists at this large and underexplored land package. It has been an exciting start to the year, and we look forward to building on these successes." 2022 Los Helados Drill Program Delivers Continuity and Extension of High-grade Mineralization The 2022 drill program at Los Helados copper-gold project is currently ongoing with three rigs and is anticipated to continue until mid-June, coinciding with the onset of winter weather in South America. The program is designed to further define and potentially extend the high-grade core of the Los Helados deposit, which is defined by a 0.7% copper equivalent ("CuEq") grade shell within the current Mineral Resource model. The program also includes holes to test targets where geological and geophysical modelling suggests potential for satellite high-grade zones. To date seven holes have been completed, with an additional three currently underway. The Company has received and released assay results for its first three completed holes of the 2022 campaign, the highlights of which are summarized as follows: LHDH073 infilling a 180m gap between previously completed holes and confirming continuity of the strong mineralization within the deposit's high-grade core (see News Release dated April 26, 2022); LHDH074 infilling an area where spacing between previous holes was between 170m and 270m and adding high-grade mineralization above and below the 0.7% CuEq grade shell (see News Release dated May 16, 2022); and LHDH075 extending the high-grade zone to the south (see News Release dated May 16, 2022). Hole-ID From (m) To  (m) Length (m) Cu (%) Au (g/t) Ag (g/t) CuEq1 (%) LHDH073 124.0 1,000.0 876.0 0.56 0.28 2.1 0.74 incl. 216.0 912.0 696.0 0.60 0.31 2.2 0.80 incl. 314.0 524.0 210.0 0.76 0.45 2.8 1.06 LHDH074 42.0 1,058.3 1,016.3 0.45 0.31 1.9 0.65 incl. 136.0 890.0 754.0 0.52 0.30 2.0 0.71 and incl. 210.0 504.0 294.0 0.60 0.41 2.1 0.87 and incl. 606.0 746.0 140.0 0.64 0.29 2.5 0.83 and incl. 816.0 890.0 74.0 0.58 0.25 2.5 0.74 LHDH075 14.0 922.0 908.0 0.39 0.24 1.3 0.55 incl. 88.0 652.0 564.0 0.47 0.29 1.4 0.65 incl. 222.0 602.0 380.0 0.51 0.31 1.6 0.70 incl. 222.0 378.0 156.0 0.59 0.42 1.7 0.86 1 CuEq for drill intersections is calculated based on US$ 3.50/lb Cu, US$ 1,700/oz Au and US$ 20/oz Ag, with metallurgical recoveries of 88% for copper, 76% for gold and 60% for silver based on a comprehensive programof metallurgical testwork. The formula is: CuEq % = Cu % + (0.6117 * Au g/t) + (0.0057 * Ag g/t). Intersections of the high-grade zone by these holes are respectively represented by the 696m interval commencing at 216m for LHDH073, the 754m interval commencing at 136m for LHDH074, and the 380m interval starting at 222m for LHDH075. The results from the first three holes of the 2022 program continue to validate the Company's improved understanding of the deposit's geology, and provide valuable information for the Company to further refine its understanding of the controls on the higher grades at Los Helados and highlight areas for potential further extension thereof. The following is a summary of the other completed holes for which assays are pending, and the holes currently in progress: Hole Status Objectives LHDH076 Completed To test the gap between the main high-grade zone and thewestern zone of the deposit and to test potential extension of the western zone. LHDH077 Completed To test ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA1 hr. 34 min. ago Related News

Verano Opens MÜV Ocala, The Company"s 47th Cannabis Dispensary In Florida

Verano Holdings Corp. (CSE:VRNO) (OTCQX: VRNOF) is opening MÜV Ocala on May 20, the company’s 47th Florida dispensary and 98th nationwide. read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

Medical Marijuana, Inc. Reports Revenue Of $7.8M For Q1 2022

Medical Marijuana, Inc. (OTCPK:MJNA) released its financial results for the quarter ending March 31, 2022, revealing $7.8 million in net revenue, a 24% increase when compared to the previous quarter. Q1 2022 Financial and Operational Highlights read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

GBP/USD: Don"t Get Too Comfy With Recent Gains

GBP/USD look headed for its first weekly gain in four weeks moving into late Thursday trading. At the time of writing, the pair was trading up by 2.03% at 1.25089, supported by a broadly weaker US dollar. But a stronger pound this week didn’t relate to any major positive news about the UK economy. On the contrary, economic data from the UK has been a relative disappointment. read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

Here Are 7 Signs Your Business Needs Custom Software Development

By Amrit Singh read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

Is Fine Art A Good Investment?

By Eness Global read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

Why True Capitalism Is the Only Thing That Can Save America — Both Economically and Socially

Americans today are facing one of the worst economic environments we’ve seen in decades, with skyrocketing inflation, supply chain shortages, and the Great Resignation, to name just a few of our current challenges. read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

How Are The FAANG Stocks Doing? Checking In

One of the major indices, the S&P 500, is down more than 2% for the week. read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

Equity Markets Update

What a month it has been thus far across all major markets post the Fed decision of hiking 50 basis points. When the Federal Reserve Chairman caught the whole World off guard about not considering increasing interest rates by 75 basis points it came as no surprise that investors and traders alike knew how behind the curve the Federal Reserve has been and continues to be about taming inflation. read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

Wait, How Many Kids Does Elon Musk Have?

After the Tesla (NASDAQ: TSLA) CEO Elon Musk and Amber Heard (who is currently standing trial in a defamation lawsuit with her ex-husband Johnny Depp) broke up in 2017, he began to date Canadian musician Grimes. read more.....»»

Category: blogSource: BENZINGA4 hr. 16 min. ago Related News

KADESTONE CAPITAL CORP. REPORTS Q1 2022 FINANCIAL RESULTS

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/  VANCOUVER, BC  , May 19, 2022 /CNW/ - Kadestone Capital Corp. ("Kadestone" or the "Company") (TSXV: KDSX) (OTCB: KDCCF), a vertically integrated property company today announced its financial results for the three months ended March 31, 2022. "We are excited about our progress so far this year at identifying additional investment opportunities. We expect to see the results of our efforts later in 2022, as we continue to believe that real estate projects in the Vancouver region will benefit from the Kadestone platform," said Brent Billey, the Company's CEO. Financial Results The Company recorded a net loss for the three months ended.....»»

Category: earningsSource: BENZINGA5 hr. 2 min. ago Related News

Dorian LPG Ltd. Provides Update for Fourth Quarter 2022 and Announces the Completion of a Japanese Financing Transaction and Fourth Quarter and Full Year 2022 Earnings and Conference Call Date

STAMFORD, Conn., May 19, 2022 /PRNewswire/ -- Dorian LPG Ltd. (NYSE:LPG) (the "Company" or "Dorian LPG"), today updated its financial and operational outlook for the quarter ended March 31, 2022. The Company plans to issue a press release on Thursday, May 26, 2022 prior to the market open, announcing its financial results for the quarter and year ended March 31, 2022. Earnings Conference Call A conference call to discuss the results will be held on Thursday, May 26, 2022 at 10:00 a.m. ET. The conference call can be accessed live by dialing 1-877-407-9716, or for international callers, 1-201-493-6779, and requesting to be joined into the Dorian LPG call. A live webcast of the conference call will also be available under the investor section at www.dorianlpg.com. A replay will be available at 1:00 p.m. ET the same day and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13730154. The replay will be available until June 2, 2022, at 11:59 p.m. ET. Outlook for the Quarter Ended March 31, 2022 The following unaudited financial data for the quarter ended March 31, 2022, is preliminary and based on information available to the Company at this time. The financial data has been prepared by and is the responsibility of the Company's management and does not present all information necessary for an understanding of the Company's financial condition as of March 31, 2022, and its results of operations for the three months ended March 31, 2022. Based on information available to the Company at this time, the Company expects that for the quarter ending March 31, 2022: Time charter equivalent (1) revenues to be between $77,500,000 — $79,500,000 Vessel operating expenses (including drydock-related expenses) to be between $16,300,000 — $18,300,000 Charter hire expenses $5,300,000 — $5,500,000 General and administrative expenses (Including stock-based compensation and certain cash bonuses) $6,500,000 — $7,500,000 Calendar days       1,845 Time chartered-in days.....»»

Category: earningsSource: BENZINGA6 hr. 15 min. ago Related News

Why Flowers Foods Shares Are Gaining Afterhours

Flowers Foods, Inc. (NYSE: FLO) reported first-quarter sales growth of 10.3% year-over-year to $1.436 billion, beating the consensus of $1.40 billion. Branded retail sales increased 11% Y/Y to $956.1 million, store-branded retail $173.6 million (+6.9% Y/Y), while non-retail and other sales increased 10.2% Y/Y to $306.2 million. Adjusted EPS was $0.44, above the consensus of $0.39. Adjusted EBITDA increased 2.4% Y/Y to $165.5 million, and the margin ...Full story available on Benzinga.com.....»»

Category: earningsSource: BENZINGA6 hr. 15 min. ago Related News

Advantex Announces Fiscal 2022 Third Quarter Results

TORONTO, May 19, 2022 /CNW/ - Advantex Marketing International Inc. (CSE:ADX) ("Advantex"), a leader in the merchant cash advance and loyalty marketing products for merchants, announced its results for three and nine months ended March 31, 2022. Highlights of financial results for three and nine months ended March 31, 2022 compared to the corresponding periods in the previous year are as follows: Three months ended March 31 Nine months ended March 31 March 2022 March 2021 Inc./(Dec) March 2022 March 2021 Inc./(Dec) $ $ $ $ $ $ Revenues $        452,103 $        240,651 $        211,452 $    1,192,596 $        939,349 $        253,247 Direct expenses Costs of loyalty rewards, and marketing  in connection with Advantex's merchant based loyalty program $          83,286 $          55,284 $          28,002 $        296,402 $        239,134 $         57,268 Expense for provision against delinquent accounts, credit/collection expense $               652 $            1,978 $           (1,326) $            6,575 $          74,720 $        (68,145) Gross profit $        368,165 $        183,389 $        184,776 $        889,619 $        625,495 $       264,124 Selling and General & Administrative expenses $        419,553 $        498,872 $         (79,319) $     1,330,324 $     1,391,583 $        (61,259) Federal Covid wage and rent subsidies $         (29,632) $       (132,585) $       (102,953) $       (139,753) $       (385,086) $      (245,333) (Loss) from operations before depreciation, amortization and interest $         (21,756) $       (182,898) $       (161,142) $       (300,952) $       (381,002) $        (80,050) Stated interest expense - loan payable, and 9% non convertible debentures payable $        338,629 $        205,250 $        133,379 $        906,277 $        677,215 $       229,062 (Loss) from operations before depreciation, amortization, non cash interest and non cash items $       (360,385) $       (388,148) $         (27,763) $    (1,207,229) $    (1,058,217) $       149,012 Interest - Lease $            1,201 $            3,090 $           (1,889) $            5,065 $          10,582 $          (5,517) Interest expense - Accretion charges,  restructuring bonus and amortization of transaction costs related to 9% non convertible debentures payable $        199,920 $        132,141 $          67,779 $        588,405 $        449,793 $       138,612 Depreciation of right of use asset $                    - $          11,372 $         (11,372) $                    - $          34,118 $        (34,118) Net (loss) and comprehensive (loss) $       (561,507) $      (534,751) $          26,756 $   (1,800,699) $   (1,552,710) $       247,989 Fuller details available in the Consolidated Financial Statements and MD&A available under Advantex's profile on www.sedar.com   The above tabulation is a non-GAAP presentation and is provided to assist readers in understanding Advantex's financial performance. The information is extracted from consolidated financial statements for three and nine months ended March 31, 2022. About Advantex: Advantex provides working capital to merchants. Advantex also provides specialized marketing programs that enable members of Aeroplan to earn Aeroplan points at participating merchants. Advantex shares trade on the Canadian Securities Exchange under the symbol ADX. For more information go to Advantex's profile on www.sedar.com   Advantex Marketing International Inc.Consolidated Statements of Financial Position (unaudited)(expressed in Canadian dollars) Note March 31,2022 June 30,2021 $ $ Assets Current assets Cash  $                  93,593 $                   82,606 Accounts receivable 49,955 93,090 Transaction credits  5 4,492,442 1,726,663 Prepaid expenses and sundry assets 41,590 43,675 $             4,677,580 $             1,946,034 Total assets $             4,677,580 $             1,946,034 Liabilities Current liabilities Loan payable  6 $             4,833,893 $             2,387,439 Lease liability 15 31,489 71,910 Loan 16 60,000 60,000 Accounts payable and accrued liabilities 2,645,760 2,731,158 9% non convertible debentures payable 7 6,472,274 - $           14,043,416 $             5,250,507.....»»

Category: earningsSource: BENZINGA6 hr. 15 min. ago Related News

Palo Alto Networks Reports Fiscal Third Quarter 2022 Financial Results

Fiscal third quarter revenue grew 29% year over year to $1.4 billion Fiscal third quarter billings grew 40% year over year to $1.8 billion Remaining performance obligation grew 40% year over year to $6.9 billion SANTA CLARA, Calif., May 19, 2022 /PRNewswire/ -- Palo Alto Networks (NASDAQ:PANW), the global cybersecurity leader, announced today financial results for its fiscal third quarter 2022, ended April 30, 2022. Total revenue for the fiscal third quarter 2022 grew 29% year over year to $1.4 billion, compared with total revenue of $1.1 billion for the fiscal third quarter 2021. GAAP net loss for the fiscal third quarter 2022 was $73.2 million, or $0.74 per diluted share, compared with GAAP net loss of $145.1 million, or $1.50 per diluted share, for the fiscal third quarter 2021. Non-GAAP net income for the fiscal third quarter 2022 was $193.1 million, or $1.79 per diluted share, compared with non-GAAP net income of $139.5 million, or $1.38 per diluted share, for the fiscal third quarter 2021. A reconciliation between GAAP and non-GAAP information is contained in the tables below. "We saw strong top-line growth in Q3, which is a testament to our teams' consistent execution in capitalizing on the strong cybersecurity demand trends," said Nikesh Arora, chairman and CEO of Palo Alto Networks. "On the back of this strength across our portfolio, we are again raising our guidance for the year across revenue, billings and earnings per share." "Our drive to deliver strong total shareholder return in Q3 was headlined by our revenue growth, while we also balanced operating margin expansion and free cash flow conversion," said Dipak Golechha, chief financial officer of Palo Alto Networks. "We look forward to continuing this balance as we close out the year and look to FY23." Financial Outlook Palo Alto Networks provides guidance based on current market conditions and expectations. For the fiscal fourth quarter 2022, we expect: Total billings in the range of $2.32 billion to $2.35 billion, representing year over year growth of between 24% and 26%. Total revenue in the range of $1.53 billion to $1.55 billion, representing year over year growth of between 25% and 27%. Diluted non-GAAP net income per share in the range of $2.26 to $2.29, using 106 million to 108 million shares outstanding. For the fiscal year 2022, we are broadly raising guidance and expect: Total billings in the range of $7.106 billion to $7.136 billion, representing year over year growth of between 30% and 31%. Total revenue in the range of $5.481 billion to $5.501 billion, representing year over year growth of approximately 29%. Diluted non-GAAP net income per share in the range of $7.43 to $7.46, using 106 million to 107 million shares. Adjusted free cash flow margin in the range of 32% to 33%. Guidance for non-GAAP financial measures excludes share-based compensation-related charges (including share-based payroll tax expense), acquisition-related costs, amortization expense of acquired intangible assets, litigation-related charges, including legal settlements,  non-cash charges related to convertible notes, and related foreign currency gains (losses) and income and other tax effects associated with these items, along with certain non-recurring expenses and certain non-recurring cash flows. We have not reconciled diluted non-GAAP net income per share guidance to GAAP net income (loss) per diluted share or adjusted free cash flow margin guidance to GAAP net cash from operating activities because we do not provide guidance on GAAP net income (loss) or net cash from operating activities and would not be able to present the various reconciling cash and non-cash items between GAAP and non-GAAP financial measures because certain items that impact these measures are uncertain or out of our control, or cannot be reasonably predicted, including share-based compensation expense, without unreasonable effort. The actual amounts of such reconciling items will have a significant impact on the company's GAAP net income (loss) per diluted share and GAAP net cash from operating activities. Earnings Call Information Palo Alto Networks will host a video webcast for analysts and investors to discuss the company's fiscal third quarter 2022 results as well as the outlook for its fiscal fourth quarter 2022 today at 4:30 p.m. Eastern time/1:30 p.m. Pacific time. Open to the public, investors may access the webcast, supplemental financial information and earnings slides from the "Investors" section of the company's website at investors.paloaltonetworks.com. A replay will be available three hours after the conclusion of the webcast and archived for one year. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our ability to balance future revenue growth with operating margin expansion and free cash flow, and our financial outlook for the fiscal fourth quarter 2022 and fiscal year 2022. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: developments and changes in general market, political, economic, and business conditions; the duration and global impact of COVID-19; risks associated with managing our growth; risks associated with new products and subscription and support offerings, including the discovery of software bugs; shifts in priorities or delays in the development or release of new subscription offerings, or the failure to timely develop and achieve market acceptance of new products and subscriptions as well as existing products and subscription and support offerings; rapidly evolving technological developments in the market for security products and subscription and support offerings; our customers' purchasing decisions and the length of sales cycles; our competition; our ability to attract and retain new customers; our ability as an organization to acquire and integrate other companies, products, or technologies in a successful manner; the effects of supply chain constraints and the global chip and component shortages and other factors affecting the manufacture, delivery, and cost of certain of our products; our ability to obtain adequate supply of our products from our third-party manufacturing partners; our debt repayment obligations; and our share repurchase program, which may not be fully consummated or enhance shareholder value, and any share repurchases which could affect the price of our common stock. Additional risks and uncertainties that could affect our financial results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Quarterly Report on Form 10-Q filed with the SEC on February 22, 2022, which is available on our website at investors.paloaltonetworks.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Non-GAAP Financial Measures and Other Key Metrics Palo Alto Networks has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). The company uses these non-GAAP financial measures and other key metrics internally in analyzing its financial results and believes that the use of these non-GAAP financial measures and key metrics are useful to investors as an additional tool to evaluate ongoing operating results and trends, and in comparing the company's financial results with other companies in its industry, many of which present similar non-GAAP financial measures or key metrics. The presentation of these non-GAAP financial measures and key metrics are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. A reconciliation of the company's historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations. Non-GAAP net income and net income per share, diluted. Palo Alto Networks defines non-GAAP net income as net income (loss) plus share-based compensation-related charges, including share-based payroll tax expense, acquisition-related costs, amortization expense of acquired intangible assets, litigation-related charges, including legal settlements, gains (losses) related to facility exit, and non-cash charges related to convertible notes. The company also excludes from non-GAAP net income the foreign currency gains (losses) and tax effects associated with these items in order to provide a complete picture of the company's recurring core business operating results. The company defines non-GAAP net income per share, diluted, as non-GAAP net income divided by the weighted-average diluted shares outstanding, which includes the potentially dilutive effect of the company's employee equity incentive plan awards and the company's convertible senior notes outstanding and related warrants, after giving effect to the anti-dilutive impact of the company's note hedge agreements, which reduces the potential economic dilution that otherwise would occur upon conversion of the company's convertible senior notes. Under GAAP, the anti-dilutive impact of the note hedge is not reflected in diluted shares outstanding. The company believes that excluding these items from non-GAAP net income and net income per share, diluted, provides management and investors with greater visibility into the underlying performance of the company's core business operating results, meaning its operating performance excluding these items and, from time to time, other discrete charges that are infrequent in nature, over multiple periods. Billings. Palo Alto Networks defines billings as total revenue plus the change in total deferred revenue, net of acquired deferred revenue, during the period. The company considers billings to be a key metric used by management to manage the company's business and believes billings provides investors with an important indicator of the health and visibility of the company's business because it includes subscription and support revenue, which is recognized ratably over the contractual service period, and product revenue, which is recognized at the time of shipment, provided that all other conditions for revenue recognition have been met. The company considers billings to be a useful metric for management and investors, particularly if sales of subscriptions continue to increase and the company experiences strong renewal rates for subscriptions and support. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures and key metrics as analytical tools. In particular, the billings metric reported by the company includes amounts that have not yet been recognized as revenue. Additionally, many of the adjustments to the company's GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in the company's financial results for the foreseeable future, such as share-based compensation, which is an important part of Palo Alto Networks employees' compensation and impacts their performance. Furthermore, these non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP, and the components that Palo Alto Networks excludes in its calculation of non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP results of operations. Palo Alto Networks compensates for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. In the future, the company may also exclude non-recurring expenses and other expenses that do not reflect the company's core business operating results. About Palo Alto Networks Palo Alto Networks, the global cybersecurity leader, is shaping the cloud-centric future with technology that is transforming the way people and organizations operate. Our mission is to be the cybersecurity partner of choice, protecting our digital way of life. We help address the world's greatest security challenges with continuous innovation that seizes the latest breakthroughs in artificial intelligence, analytics, automation, and orchestration. By delivering an integrated platform and empowering a growing ecosystem of partners, we are at the forefront of protecting tens of thousands of organizations across clouds, networks, and mobile devices. Our vision is a world where each day is safer and more secure than the one before. For more information, visit www.paloaltonetworks.com. Palo Alto Networks and the Palo Alto Networks logo are trademarks of Palo Alto Networks, Inc. in the United States and in jurisdictions throughout the world. All other trademarks, trade names, or service marks used or mentioned herein belong to their respective owners.   Palo Alto Networks, Inc. Preliminary Condensed Consolidated Statements of Operations (In millions, except per share data) (Unaudited) Three Months Ended Nine Months Ended April 30, April 30, 2022 2021 2022 2021.....»»

Category: earningsSource: BENZINGA6 hr. 49 min. ago Related News