NetScout(US:NTCT)2022-08-06 02:51Financial Performance - Q1 FY'23 (Non-GAAP) - Revenue reached $208.8 million, a 9.7% increase compared to $190.3 million in Q1 FY'22 [15, 27] - Product revenue grew by approximately 20%, while service revenue increased by about 2% [16] - Gross margin was 74.5%, slightly up from 74.2% in Q1 FY'22 [15, 27] - Operating margin improved to 11.7% from 11.4% in Q1 FY'22 [15, 27] - Earnings per share (EPS) rose to $0.24, a 20% increase from $0.20 in Q1 FY'22 [15, 27] - Net income increased by 20.7% to $18.1 million from $15.0 million in Q1 FY'22 [27] Revenue Trends - Service Provider revenue was $110.6 million, representing 53% of total revenue in Q1 FY'23 [30] - Enterprise revenue was $98.2 million, accounting for 47% of total revenue in Q1 FY'23 [30] - Service Assurance revenue was $149.6 million, making up 72% of total revenue in Q1 FY'23 [32] - Security revenue was $59.2 million, which is 28% of the total revenue in Q1 FY'23 [32] FY'23 Outlook - The company reiterated its non-GAAP FY'23 outlook, initially issued on May 5, 2022 [20] - Revenue is projected to be between approximately $895 million and $925 million [43] - Non-GAAP EPS is expected to be in the range of approximately $1.97 to $2.03 [44]