Palo Alto Networks Q4 Revenue Jumps 34% to $3.41B; NGS ARR Hits $9.1B
PANW has more than doubled off its 52-week low of $139.571.
Summary
Palo Alto Networks reported Q4 FY2026 revenue of $3.41B (+34% YoY) and NGS ARR of $9.10B (+63% YoY), with FY2027 guidance above consensus. GAAP net loss of $282M reflects non-cash convertible note fair-value changes, while non-GAAP EPS of $1.02 beat expectations.
Key Events · Earnings and Guidance · PANW
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Q4 Revenue Up 34% to $3.41B
Total revenue grew 34% year over year to $3.41 billion, driven by strength across Network & AI Security, Cortex, and Idira platforms.
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NGS ARR Surges 63% to $9.10B
Next-Generation Security ARR reached $9.10 billion, up 63% year over year, with nearly $1 billion of Net New NGS ARR added in Q4 alone.
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GAAP Loss vs. Non-GAAP Profit
GAAP net loss was $282 million, or ($0.35) per share, including a $524 million non-cash fair-value change on convertible notes and capped calls. Non-GAAP net income was $853 million, or $1.02 per diluted share, up from $0.95 a year ago.
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FY2027 Guidance Above Consensus
Management guided FY2027 revenue to $14.10–$14.20 billion (23–24% growth) and non-GAAP EPS to $4.16–$4.19, with adjusted free cash flow margin of 38.0%.
Analysis · PANW · Technology
Palo Alto Networks closed fiscal 2026 with accelerating growth: Q4 revenue rose 34% year over year to $3.41 billion, and Next-Generation Security ARR surged 63% to $9.10 billion. The company added nearly $1 billion of Net New NGS ARR in a single quarter. GAAP results swung to a $282 million net loss, driven by acquisition-related costs and a $524 million non-cash fair-value change on convertible notes and capped calls — not operational weakness. Non-GAAP net income grew 27% to $853 million, or $1.02 per diluted share, beating the prior year's $0.95. Management guided FY2027 revenue to $14.10–$14.20 billion and non-GAAP EPS to $4.16–$4.19, implying continued 23–24% top-line growth. The company also disclosed the acquisition of Console, an AI-native agentic workflow platform, extending its string of AI security deals.
How filings like this one have moved
In the 30 days to Sep 10, 2026, 30% of the 1973 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, PANW was trading at $356.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $295.1B. The 52-week trading range was $139.57 to $398.88. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.