PANW · 10-K · 2026A · Full report

Market Demand Trends

Palo Alto Networks Inc · 2026-09-10 · Importance 81 · Surprise 64

Total revenue increased 24% to $11.5 billion in fiscal 2026, reflecting increased adoption of Palo Alto Networks’ product, subscription, and support portfolio. Next-Generation Security ARR rose to $9.1 billion from $5.6 billion, while remaining performance obligations increased to $21.2 billion from $15.8 billion. Subscription and support demand increased across network security, security operations, cloud security, observability, identity security, and AI security offerings.

Key facts

• Palo Alto Networks said it expects revenue to vary from quarter to quarter based on seasonal and cyclical factors and business acquisitions. source