Global cybersecurity firm Palo Alto Networks has announced financial results for its fiscal second quarter 2021. Total revenue for the fiscal second quarter 2021 grew 25% year over year to $1 billion, compared with total revenue of $816.7 million for the fiscal second quarter 2020.

GAAP net loss for the fiscal second quarter 2021 was $142.3 million, or $1.48 per diluted share, compared with GAAP net loss of $73.7 million, or $0.75 per diluted share, for the fiscal second quarter 2020.

“The momentum in the business continues to be strong, with second quarter revenue growth of 25% year over year to over 1 billion USD, driven by strong execution across the board,” said Nikesh Arora, chairman and CEO of Palo Alto Networks.

“Events like the SolarStorm attack highlight the importance of cybersecurity, and Palo Alto Networks is well positioned to protect our customers with best-of-breed solutions. We are excited about the bets that we have made in SASE, Cloud and AI. Our three-platform strategy is paying off,” Arora added.

For the fiscal year 2021, the company is raising guidance and expects: total billings in the range of $5.13 billion to $5.18 billion, representing year-over-year growth of between 19% and 20%.

Total revenue in the range of $4.15 billion to $4.20 billion, representing year-over-year growth of between 22% and 23%.