Palo Alto Networks annual operating expenses
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Palo Alto Networks Operating Expenses Growth & History (PANW)
Palo Alto Networks's operating expenses was $5.53B for fiscal 2025.
View full Palo Alto Networks company overviewPalo Alto Networks annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-07-31 | $5.53B | $242.6M | +4.59% |
| 2024 | 2024-07-31 | $5.28B | $688.7M | +14.99% |
| 2023 | 2023-07-31 | $4.60B | $624.1M | +15.71% |
| 2022 | 2022-07-31 | $3.97B | $686.3M | +20.89% |
| 2021 | 2021-07-31 | $3.29B | $697.4M | +26.95% |
| 2020 | 2020-07-31 | $2.59B | $442.6M | +20.63% |
| 2019 | 2019-07-31 | $2.15B | $412.6M | +23.81% |
| 2018 | 2018-07-31 | $1.73B | $288.2M | +19.95% |
| 2017 | 2017-07-31 | $1.44B | $278.7M | +23.91% |
| 2016 | 2016-07-31 | $1.17B | $389.4M | +50.15% |
| 2015 | 2015-07-31 | $776.4M | $122.5M | +18.73% |
| 2014 | 2014-07-31 | $653.9M | $348.9M | +114.41% |
| 2013 | 2013-07-31 | $305.0M | $124.3M | +68.78% |
| 2012 | 2012-07-31 | $180.7M | $84.0M | +86.81% |
| 2011 | 2011-07-31 | $96.7M | — | — |
Palo Alto Networks quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q3 2026 | 2026-04-30 | $2.21B | $760.0M | +52.38% |
| Q2 2026 | 2026-01-31 | $1.51B | $95.0M | +6.70% |
| Q1 2026 | 2025-10-31 | $1.53B | $228.0M | +17.55% |
| Q4 2025 | 2025-07-31 | $1.36B | −$17.4M | −1.26% |
| Q3 2025 | 2025-04-30 | $1.45B | $156.5M | +12.09% |
| Q2 2025 | 2025-01-31 | $1.42B | −$5.4M | −0.38% |
| Q1 2025 | 2024-10-31 | $1.30B | $108.9M | +9.15% |
| Q4 2024 | 2024-07-31 | $1.38B | $184.4M | +15.46% |
| Q3 2024 | 2024-04-30 | $1.29B | $127.1M | +10.89% |
| Q2 2024 | 2024-01-31 | $1.42B | $273.4M | +23.79% |
| Q1 2024 | 2023-10-31 | $1.19B | $103.8M | +9.56% |
| Q4 2023 | 2023-07-31 | $1.19B | $150.2M | +14.40% |
| Q3 2023 | 2023-04-30 | $1.17B | $173.6M | +17.47% |
| Q2 2023 | 2023-01-31 | $1.15B | $163.5M | +16.59% |
| Q1 2023 | 2022-10-31 | $1.09B | $136.8M | +14.41% |
| Q4 2022 | 2022-07-31 | $1.04B | $122.0M | +13.25% |
| Q3 2022 | 2022-04-30 | $993.8M | $140.1M | +16.41% |
| Q2 2022 | 2022-01-31 | $985.5M | $187.4M | +23.48% |
| Q1 2022 | 2021-10-31 | $949.5M | $236.8M | +33.23% |
| Q4 2021 | 2021-07-31 | $920.8M | $243.0M | +35.85% |
| Q3 2021 | 2021-04-30 | $853.7M | $186.1M | +27.88% |
| Q2 2021 | 2021-01-31 | $798.1M | $161.6M | +25.39% |
| Q1 2021 | 2020-10-31 | $712.7M | $106.7M | +17.61% |
| Q4 2020 | 2020-07-31 | $677.8M | $79.5M | +13.29% |
| Q3 2020 | 2020-04-30 | $667.6M | $127.2M | +23.54% |
| Q2 2020 | 2020-01-31 | $636.5M | $134.5M | +26.79% |
| Q1 2020 | 2019-10-31 | $606.0M | $101.4M | +20.10% |
| Q4 2019 | 2019-07-31 | $598.3M | $141.4M | +30.95% |
| Q3 2019 | 2019-04-30 | $540.4M | $87.3M | +19.27% |
| Q2 2019 | 2019-01-31 | $502.0M | $93.3M | +22.83% |
| Q1 2019 | 2018-10-31 | $504.6M | $90.6M | +21.88% |
| Q4 2018 | 2018-07-31 | $456.9M | $59.0M | +14.83% |
| Q3 2018 | 2018-04-30 | $453.1M | $95.9M | +26.85% |
| Q2 2018 | 2018-01-31 | $408.7M | $44.9M | +12.34% |
| Q1 2018 | 2017-10-31 | $414.0M | $68.1M | +19.69% |
| Q4 2017 | 2017-07-31 | $397.9M | $76.1M | +23.65% |
| Q3 2017 | 2017-04-30 | $357.2M | $53.8M | +17.73% |
| Q2 2017 | 2017-01-31 | $363.8M | $73.2M | +25.19% |
| Q1 2017 | 2016-10-31 | $345.9M | $95.9M | +38.36% |
| Q4 2016 | 2016-07-31 | $321.8M | $77.7M | +31.83% |
| Q3 2016 | 2016-04-30 | $303.4M | $96.9M | +46.92% |
| Q2 2016 | 2016-01-31 | $290.6M | $93.8M | +47.66% |
| Q1 2016 | 2015-10-31 | $250.0M | $87.3M | +53.66% |
| Q4 2015 | 2015-07-31 | $244.1M | $89.0M | +57.41% |
| Q3 2015 | 2015-04-30 | $206.5M | −$50.2M | −19.56% |
| Q2 2015 | 2015-01-31 | $196.8M | $56.1M | +39.85% |
| Q1 2015 | 2014-10-31 | $162.7M | $61.3M | +60.48% |
| Q4 2014 | 2014-07-31 | $155.1M | $66.1M | +74.22% |
| Q3 2014 | 2014-04-30 | $256.7M | $176.7M | +220.71% |
| Q2 2014 | 2014-01-31 | $140.7M | $69.7M | +98.09% |
| Q1 2014 | 2013-10-31 | $101.4M | $36.5M | +56.28% |
| Q4 2013 | 2013-07-31 | $89.0M | $30.7M | +52.63% |
| Q3 2013 | 2013-04-30 | $80.0M | $32.9M | +69.93% |
| Q2 2013 | 2013-01-31 | $71.0M | $31.1M | +78.07% |
| Q1 2013 | 2012-10-31 | $64.9M | $29.5M | +83.40% |
| Q4 2012 | 2012-07-31 | $58.3M | — | — |
| Q3 2012 | 2012-04-30 | $47.1M | — | — |
| Q2 2012 | 2012-01-31 | $39.9M | — | — |
| Q1 2012 | 2011-10-31 | $35.4M | — | — |
Palo Alto Networks operating expenses trends
Over the last five fiscal years, Palo Alto Networks's operating expenses increased from $2.59B to $5.53B, a change of $2.94B. The latest reported quarter, Q3 2026, shows $2.21B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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