Palo Alto Networks celebrated a successful end to fiscal-year 2021 today bringing in $1.2 billion in revenue during the fourth quarter.

CEO Nikesh Arora, speaking during the company's Q4 earnings call, credited much of this growth in no small part to the misfortune of others in the wake of several high-profile supply chain and ransomware attacks, which have only accelerated in recent months.

“We’ve had a series of cybersecurity events over the last quarter,” he said, evoking the Solar Winds and Colonial Pipeline cyberattacks. “It’s against this backdrop that our platform approach is working.”

In the wake of these attacks, Palo Alto Networks saw robust growth that continued throughout the year. The company saw revenue top $1.2 billion in Q4, up 28% year over year, while full-year revenue grew 25% from the year prior to $4.3 billion. The strong quarter, which exceeded investor expectations, sent the company's stock soaring 9% in after-hours trading.

Much of this was driven by strong demand for Palo Alto Networks' security stack, including the company’s secure access service edge (SASE) and extended detection and response (XDR) offerings.

The company's subscription services, which include SASE, XDR, and its virtual firewalls, raked in $535 million in revenue during Q4, an increase of 37%.

“How long is the work-from-home trend going to last,” Arora said. “All I can tell you is it's far from over… Hybrid work is about to become the norm, and SASE is going to lead that transformation.”

According to Arora, Palo Alto Networks nearly doubled its SASE customer count during the quarter to roughly 2,500. Of those, 25% were new customers, he added.

The company’s recently updated XDR platform also saw strong growth during the quarter with customer counts nearly doubling from the year prior to 2,900, Arora boasted.

This story repeated across the company's product portfolio including hardware, which grew 11% year over year. However, Palo Alto Networks CFO Dipak Golechha noted the majority of firewall platform growth was driven by the company’s VM-series and Prisma SASE.

Support revenues also saw robust growth during the quarter, up 34% to $345 million.

Arora expects revenue growth to continue unabated into the first quarter of Palo Alto Networks’ 2022 fiscal year driven by pent-up demand for hardware. Arora believes enterprises will resume hardware refreshes in full force, while also moving to adopt new services like SASE. “The SASE train has barely left the station,” he added.

Looking ahead to Q1 of fiscal 2022, Palo Alto Networks predicts total revenue between $1.19 billion and $1.21 billion, a year-over-year increase of 26% to 28%.

The company expects full-year revenue for 2022 to grow at a similar pace to 2021 (25%) in the range of $5.275 billion to $5.325 billion.