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PANW · Q3 FY2026

Archived report (Q3 FY2026). Latest deep dive →

US GAAP · $M · vs Q3 FY2025 · quarter ended 04/30/2026

PANW — Palo Alto Networks is a cybersecurity company providing cloud-native security solutions for networks, endpoints, and identities.

More about the company

It is headquartered in Santa Clara, California, and serves customers globally.

All figures in $M.

Sankey diagram of PANW earnings report for Q3 FY2026: revenue, costs and profitProduct$594 · +31.1%Subscription & Support$2,408 · +31.2%Total Revenue$3,002 · +31.1%Other Income, net$27 · -71%Net Loss (GAAP)$177 · vs +$262Cost of Revenue$974 · +57.4%R&D$734 · +48.6%Sales & Marketing$1,161 · +46.4%G&A (incl. acquisitioncosts)$316 · +92.7%Income Tax$21 · on pretax loss

Verdict: a small GAAP loss with a very healthy business underneath — revenue +31%, Next-Gen Security ARR +60% to $8.1B and adjusted free cash flow margin 38.5%; the $177M loss is the cost of digesting CyberArk and Chronosphere (amortization, stock comp, integration) spread across every expense line rather than one big charge.

Loss quarter (mirror layout): left side shows where the money came from — revenue, other income and the net loss itself; right side shows what it covered. Q3 operating cash flow $871M; adjusted FCF $910M. FY2026 outlook: revenue $11.42B (+24%), non-GAAP EPS $3.77-3.79.

Source and notation

* marks non-cash / ≈ estimated. Source: Palo Alto Networks press release 8-K EX-99.1 (SEC EDGAR). Reported revenue includes $388M from CyberArk and Chronosphere; NGS ARR of $8.1B includes $1.6B from those acquisitions. Reported growth is not organic growth.

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Heads-up

How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report; the short company description was also written by our model. The source for this archived period is shown above; a complete numerical recheck has not been recorded. How we make the breakdowns · Report an error

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Company reports

Q4 FY2026latestA record quarter on every operating metric — revenue +34% to $3.41B, NGS ARR +63% to $9.1B, non-GAAP operating income…
Q3 FY2026A small GAAP loss with a very healthy business underneath — revenue +31%, Next-Gen Security ARR +60% to $8.1B and…

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