Short answer
Palo Alto Networks (PANW) filed its Q2 2026 10-Q quarterly report on Jun 3, 2026 for the quarter ended Apr 30, 2026. Quarterly revenue was $3.0B (up 31.1% year over year) with net income of −$177M.
Q2 2026 key financials · XBRL
- Revenue
- $3.0B
- +31.1% YoY · +15.7% QoQ
- Net income
- −$177M
- −167.5% YoY · −141.0% QoQ
- Operating margin
- -6.1%
- Gross margin
- 67.6%
- EPS (diluted)
- −$0.28
- −175.7% YoY · −146.7% QoQ
Source: XBRL data from the Palo Alto Networks (PANW) Q2 2026 10-Q on SEC EDGAR. USD.
Palo Alto Networks Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $3,002M vs $2,289M, up 31% YoY
- Subscription and support revenue $2,408M vs $1,836M, up 31% YoY
- Gross margin 67.6% vs 72.9%; operating margin (6.1%) vs 9.6% YoY
- Operating cash flow $3,196M vs $2,695M; free cash flow $2,859M vs $2,535M
- Headwinds: inflation, high interest rates, trade restrictions, supply-chain disruptions, and geopolitical tensions
Risk Factors
- Newly added CyberArk acquisition risk, triggered by 4,166 acquired employees and substantially expanded business scope
- Most material operational update, headcount rising from 16,068 to 21,491, increasing strain on systems, controls, and integration
- Regulatory risk, Russia sanctions and export controls creating potential liability for noncompliance
- Competitive risk, CyberArk acquisition increasing competition while platformization depends on large-enterprise expansion
- Concentration risk, two distributors representing 31% of nine-month revenue and 29% of gross accounts receivable
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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