"Management reported significant growth in Unified SASE and AI-driven SecOps, achieving 18% and 29% YoY billing growth respectively, now comprising 35% of total billings."
"A record firewall upgrade cycle is anticipated in the second half of 2025, with rising interest from enterprise customers for new hardware and integrated services."
Security services and SASE now constitute 35% of total billings and are experiencing over 25% year-over-year growth. Management raised margin guidance for fiscal year 2025 after a strong first quarter performance, predicting continued operating leverage. A significant firewall upgrade cycle is likely to accelerate in the latter half of the year as enterprise customers seek to replace outdated hardware and integrate services. Wall Street anticipates $1.63 billion in revenue and $0.59 in EPS for the upcoming Q2 report, with a strong focus on product mix and margin expansion.
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