Palo Alto Networks Inc

Listed Company

PANWCIK 0001327567NasdaqLarge AcceleratedComputer Peripheral Equipment, NecDelawareFY ends Jul 31

Period

FY 2025

Revenue

$9.22B

Net Income

$1.13B

Total Assets

$23.58B

Equity

$7.82B

Shares Out

816.00M

Op. Cash Flow

$3.72B

Business

Palo Alto Networks Inc is a global cybersecurity provider that delivers integrated, AI-powered platforms and services to protect enterprise users, networks, clouds, and endpoints. Its main offerings include SASE and SD-WAN (Prisma Access and Prisma SD‑WAN), ML-powered Next‑Generation Firewalls, the Cortex security operations platform, cloud-delivered security services, Prisma AIRS, Strata Cloud Manager, and Unit 42 threat intelligence and advisory services. The company organizes around network security, security operations, and threat intelligence/advisory services. It sells globally to enterprises, service providers, and government customers via direct sales, channel partners, distributors, and cloud marketplaces.

Summary from filing dated 2025-08-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-07-31	FY 2024 2024-07-31	FY 2023 2023-07-31	FY 2022 2022-07-31	FY 2021 2021-07-31
Revenue	9,222	8,028	6,893	5,502	4,256
Cost of revenue	2,452	2,059	1,910	1,719	1,275
Total gross profit	6,770	5,968	4,983	3,783	2,981
Research and development	1,984	1,809	1,604	1,418	1,140
Sales and marketing	3,100	2,795	2,544	2,149	1,754
General and administrative	443	681	448	405	391
Total operating expenses	5,527	5,284	4,596	3,972	3,285
Operating income	1,243	684	387	−189	−304
Interest expense	−3	−8	−27	—	—
Other income, net	356	313	206	9	2
Income before income taxes	1,596	988	566	−207	−465
Provision for (benefit from) income taxes	462	−1,600	127	60	34
Net income	1,134	2,578	440	−267	−499
Net income per share, basic (in usd per share)	1.71	4.04	0.73	−0.9	−1.73
Net income per share, diluted (in usd per share)	1.6	3.64	0.64	−0.9	−1.73
Weighted-average shares used to compute net income per share, basic (in shares)	663	639	606	296	289
Weighted-average shares used to compute net income per share, diluted (in shares)	709	708	685	296	289

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-07-31	FY 2024 2024-07-31	FY 2023 2023-07-31	FY 2022 2022-07-31	FY 2021 2021-07-31
Cash and cash equivalents	2,269	1,535	1,135	2,119	1,874
Short-term investments	635	1,044	1,255	1,516	1,027
Accounts receivable, net of allowance for credit losses of $9.7 and $7.5 as of July 31, 2025 and July 31, 2024, respectively	2,965	2,619	2,463	2,143	1,240
Short-term financing receivables, net	715	726	389	111	—
Short-term deferred contract costs	420	369	339	318	277
Prepaid expenses and other current assets	521	557	467	209	229
Total current assets	7,523	6,850	6,048	6,415	4,647
Property and equipment, net	387	361	355	358	318
Operating lease right-of-use assets	347	386	263	242	263
Long-term investments	5,556	4,173	3,048	1,052	888
Long-term financing receivables, net	1,002	1,182	653	192	—
Long-term deferred contract costs	586	562	547	550	495
Goodwill	4,567	3,350	2,927	2,748	2,710
Intangible assets, net	763	375	315	385	499
Deferred tax assets	2,424	2,399	23	—	—
Other assets	422	353	322	313	421
Total assets	23,576	19,991	14,501	12,254	10,242
Accounts payable	232	116	132	128	57
Accrued compensation	608	555	548	461	431
Accrued and other liabilities	846	507	391	399	329
Deferred revenue	6,302	5,541	4,675	3,641	2,742
Convertible senior notes, net	0	964	1,992	3,677	1,558
Total current liabilities	7,988	7,683	7,738	8,306	5,117
Long-term deferred revenue	6,450	5,939	4,622	3,353	2,282
Deferred tax liabilities	89	388	28	—	—
Long-term operating lease liabilities	338	381	279	276	313
Other long-term liabilities	887	431	86	108	98
Total liabilities	15,752	14,821	12,753	12,044	9,478
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock; $0.0001 par value; 100.0 shares authorized; none issued and outstanding as of July 31, 2025 and July 31, 2024	0	0	0	0	0
Common stock and additional paid-in capital; $0.0001 par value; 2,000.0 shares authorized; 667.9 and 650.2 shares issued and outstanding as of July 31, 2025 and July 31, 2024, respectively	5,292	3,821	3,019	1,933	2,311
Accumulated other comprehensive income (loss)	48	−2	−43	−56	−10
Retained earnings	2,484	1,350	−1,227	−1,667	−1,667
Total stockholders equity	7,824	5,170	1,748	210	635
Total liabilities and stockholders equity	23,576	19,991	14,501	12,254	10,242

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-07-31	FY 2024 2024-07-31	FY 2023 2023-07-31	FY 2022 2022-07-31	FY 2021 2021-07-31
Share-based compensation for equity-based awards	1,295	1,075	1,075	1,011	895
Deferred income taxes	−350	−2,034	13	−3	—
Depreciation and amortization	343	283	282	283	260
Amortization of deferred contract costs	481	446	413	362	298
Amortization of debt issuance costs	1	4	7	7	143
Change in fair value of contingent consideration liability	−135	0	0	—	—
Reduction of operating lease right-of-use assets	65	55	50	54	45
Amortization of investment premiums, net of accretion of purchase discounts	−41	−60	−52	14	13
Accounts receivable, net	−345	−154	−320	−902	−172
Financing receivables, net	191	−866	−739	−30	−273
Deferred contract costs	−555	−489	−432	−459	−441
Prepaid expenses and other assets	88	−134	−271	−110	−27
Accounts payable	107	−15	1	69	−12
Accrued compensation	51	4	84	30	105
Accrued and other liabilities	148	385	−75	−45	−29
Deferred revenue	1,238	2,181	2,302	1,970	1,196
Net cash provided by operating activities	3,716	3,258	2,778	1,985	1,503
Purchases of investments	−3,696	−3,551	−5,460	−2,272	−1,959
Proceeds from sales of investments	1,197	956	966	449	—
Proceeds from maturities of investments	1,595	1,853	2,812	1,119	1,241
Business acquisitions, net of cash and restricted cash acquired	−1,054	−611	−205	−37	−777
Purchases of property, equipment, and other assets	−246	−157	−146	−193	−116
Net cash used in investing activities	−2,205	−1,510	−2,034	−933	−1,481
Repayments of convertible senior notes	−966	−1,034	−1,692	−600,000	—
Repurchases of common stock	0	−567	−273	−892	−1,178
Proceeds from sales of shares through employee equity incentive plans	371	284	259	137	104
Payments for taxes related to net share settlement of equity awards	−184	−27	−20	−50	−29
Net cash used in financing activities	−779	−1,343	−1,726	−807	−1,104
Net increase (decrease) in cash, cash equivalents, and restricted cash	732	405	−983	245	−1,082
Equity consideration for business acquisitions	−27	−27	−300,000	−3	−365
Contingent consideration for a business acquisition	−649	0	0	—	—
Cash paid for income taxes	506	342	147	35	25
Cash paid for contractual interest	2	6	20	20	20

Filings

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