In Q4 of fiscal 2026, the quarter ended Jul 31, 2026, Palo Alto Networks, Inc. reported revenue of $3.4 billion, up 34.5% from the same quarter a year earlier. It recorded a net loss of $282.0 million. Operating income came to $172.0 million, an operating margin of 5.0%. Diluted earnings per share were -$0.34.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the same quarter a year earlier.
| Line |
Q4 FY2026
Jul 31, 2026
|
Q3 FY2026
Apr 30, 2026
|
Q2 FY2026
Jan 31, 2026
|
Q1 FY2026
Oct 31, 2025
|
Q4 FY2025
Jul 31, 2025
|
Q3 FY2025
Apr 30, 2025
|
Q2 FY2025
Jan 31, 2025
|
Q1 FY2025
Oct 31, 2024
|
|---|---|---|---|---|---|---|---|---|
| Revenue |
3,410
+34.5%
|
3,002
+31.1%
|
2,594
+14.9%
|
2,474
+15.7%
|
2,536
+15.9%
|
2,289
+15.3%
|
2,257
+14.3%
|
2,139
+13.9%
|
| Cost of revenue |
1,106
+62.9%
|
974
+57.4%
|
685
+14.4%
|
638
+15.2%
|
679
+18.4%
|
619
+20.5%
|
599
+20.0%
|
554
+17.2%
|
| Gross profit |
2,304
+24.1%
|
2,028
+21.4%
|
1,909
+15.1%
|
1,836
+15.8%
|
1,857
+14.9%
|
1,670
+13.5%
|
1,658
+12.3%
|
1,585
+12.8%
|
| Research and development |
779
+54.6%
|
734
+48.6%
|
511
+1.2%
|
528
+9.8%
|
504
+1.7%
|
494
+8.0%
|
505
+12.7%
|
481
+17.5%
|
| Selling, general and administrative |
1,353
+58.1%
|
1,477
+54.3%
|
1,001
+9.8%
|
999
+22.1%
|
856
-2.9%
|
957
+14.3%
|
912
-6.4%
|
818
+4.8%
|
| Operating expenses |
2,132
+56.8%
|
2,211
+52.4%
|
1,512
+6.7%
|
1,527
+17.6%
|
1,360
-1.2%
|
1,451
+12.1%
|
1,417
-0.4%
|
1,299
+9.2%
|
| Operating income |
172
-65.4%
|
-183
-183.6%
|
397
+64.7%
|
309
+8.0%
|
497
+108.4%
|
219
+23.9%
|
241
+349.6%
|
286
+32.9%
|
| Pretax income |
-269
-145.4%
|
-156
-150.2%
|
549
+68.9%
|
412
+12.0%
|
592
+85.8%
|
311
+23.8%
|
325
+139.9%
|
368
+30.2%
|
| Income tax |
13
-96.2%
|
21
-57.1%
|
117
+101.7%
|
78
+358.8%
|
338
+957.9%
|
49
+277.5%
|
58
+103.6%
|
17
-80.8%
|
| Net income |
-282
-211.0%
|
-177
-167.6%
|
432
+61.8%
|
334
-4.8%
|
254
-29.1%
|
262
-6.0%
|
267
-84.7%
|
351
+80.7%
|
| Basic EPS |
-0.35
-192.7%
|
-0.22
-156.4%
|
0.61
+48.8%
|
0.49
-9.3%
|
0.38
-32.0%
|
0.39
-9.3%
|
0.41
-85.0%
|
0.54
-14.3%
|
| Diluted EPS |
-0.34
-196.0%
|
-0.22
-159.5%
|
0.61
+60.5%
|
0.47
-4.1%
|
0.36
-29.5%
|
0.37
-5.1%
|
0.38
-84.4%
|
0.49
-12.5%
|
| Weighted average shares, basic |
808
+19.8%
|
801
+20.5%
|
704
+6.8%
|
679
+3.8%
|
675
+4.3%
|
665
+3.0%
|
659
+3.1%
|
654
+110.9%
|
| Weighted average shares, diluted |
823
+15.6%
|
801
+13.3%
|
711
+0.3%
|
709
+0.0%
|
712
+0.6%
|
707
-0.3%
|
709
-0.8%
|
709
+102.7%
|
| Other measures | ||||||||
| Depreciation and amortization |
341
+306.0%
|
334
+279.5%
|
91
+4.6%
|
89
+6.0%
|
84
+9.4%
|
88
+18.4%
|
87
+26.8%
|
84
+30.6%
|
| EBITDA |
513
-11.7%
|
151
-50.8%
|
488
+48.8%
|
398
+7.6%
|
581
+84.3%
|
307
+22.3%
|
328
+168.4%
|
370
+32.4%
|
| Interest coverage |
—
|
—
|
—
|
—
|
—
|
219.00x
|
241.00x
|
286.00x
|
| Margins | ||||||||
| Gross margin |
67.57%
|
67.55%
|
73.59%
|
74.21%
|
73.23%
|
72.96%
|
73.46%
|
74.10%
|
| Operating margin |
5.04%
|
-6.10%
|
15.30%
|
12.49%
|
19.60%
|
9.57%
|
10.68%
|
13.37%
|
| Pretax margin |
-7.89%
|
-5.20%
|
21.16%
|
16.65%
|
23.34%
|
13.59%
|
14.40%
|
17.20%
|
| Profit margin |
-8.27%
|
-5.90%
|
16.65%
|
13.50%
|
10.02%
|
11.45%
|
11.83%
|
16.41%
|
| EBITDA margin |
15.04%
|
5.03%
|
18.81%
|
16.09%
|
22.91%
|
13.41%
|
14.53%
|
17.30%
|
| Effective tax rate |
—
|
—
|
21.31%
|
18.93%
|
57.09%
|
15.76%
|
17.85%
|
4.62%
|
How these figures are calculated
Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Computer Peripheral Equipment, NEC (SIC 3577)
- Listed as
- PANW (Nasdaq)
- Fiscal year ends
- July 31
- Incorporated in
- DE
- Headquarters
- Santa Clara, CA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1327567
- Former names
- Palo Alto Networks Inc (until Nov 4, 2026)
Other Computer Peripheral Equipment, NEC companies
- Fortinet, Inc. FTNT
- Logitech International S.A. LOGI
- Corsair Gaming, Inc. CRSR
- Evolv Technologies Holdings, Inc. EVLV
- Mitek Systems Inc MITK
- Stratasys Ltd. SSYS
- Immersion Corp IMMR
- Radcom Ltd RDCM
Source: SEC EDGAR filings. This is company-reported data, not investment advice.