PANW Q1 2026

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Earnings

Palo Alto Networks opened fiscal 2026 on solid footing, posting first-quarter revenue of $2.47 billion, up 15.7% year over year, alongside non-GAAP EPS of $0.93, which cleared the $0.89 consensus estimate by 4.35% and marked a 19% improvement from th… Read more Palo Alto Networks opened fiscal 2026 on solid footing, posting first-quarter revenue of $2.47 billion, up 15.7% year over year, alongside non-GAAP EPS of $0.93, which cleared the $0.89 consensus estimate by 4.35% and marked a 19% improvement from the prior-year period. The growth was anchored by a surging subscription and support business, which climbed to $2.04 billion from $1.78 billion, while Next-Generation Security ARR expanded 29% to $5.90 billion, underscoring the company's ongoing shift toward a platform-driven model. Non-GAAP operating margin widened to 30.2%, reflecting disciplined expense management even as the company absorbed elevated share-based compensation charges. A headline strategic move was the announced $3.35 billion acquisition of observability platform Chronosphere, which carries over $160 million in ARR growing at triple-digit rates, a deal management called transformative for its AI-native security ambitions. Looking ahead, Palo Alto guided full-year revenue of $10.50 billion to $10.54 billion and reaffirmed confidence in reaching 40%-plus adjusted free cash flow margin by fiscal 2028, though shares came under pressure as investors weighed the acquisition's integration risks against an already premium valuation.