Filing Flows › Palo Alto Networks (PANW) › Guidance history
Palo Alto Networks (PANW) guidance history: what it guided and what it reported
Palo Alto Networks gave guidance in 12 earnings releases on file since Nov 15, 2023. Of 9 guided periods since reported, it met or beat its own guidance 9 times (100%). Revenue: 9 of 9, on average +1.0% against the guided midpoint. Its releases raised guidance twice and lowered it 0 times.
Revenue
Met or beat 9 of 9 periods (7 above, 2 within, 0 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 FY26 | $3.3B–$3.4B (Jun 2, 2026) | $3.4B | above the range | +1.8% |
| FY26 | $10.5B–$10.5B (Aug 18, 2025) → reaffirmed $10.5B–$10.5B (Nov 19, 2025) → raised $11.3B–$11.3B (Feb 17, 2026) → raised $11.4B–$11.4B (Jun 2, 2026) | $11.5B | within the range | +0.5% |
| Q3 FY26 | $2.9B–$2.9B (Feb 17, 2026) | $3.0B | above the range | +2.0% |
| Q2 FY26 | $2.6B–$2.6B (Nov 19, 2025) | $2.6B | above the range | +0.5% |
| Q1 FY26 | $2.5B–$2.5B (Aug 18, 2025) | $2.5B | above the range | +0.6% |
| Q4 FY25 | $2.5B–$2.5B (May 20, 2025) | $2.5B | above the range | +1.4% |
| FY25 | $9.1B–$9.2B (Aug 19, 2024) → raised $9.1B–$9.2B (Nov 20, 2024) → raised $9.1B–$9.2B (Feb 13, 2025) → reaffirmed $9.2B–$9.2B (May 20, 2025) | $9.2B | above the range | +0.5% |
| Q3 FY25 | $2.3B–$2.3B (Feb 13, 2025) | $2.3B | within the range | +0.6% |
| Q2 FY25 | $2.2B–$2.2B (Nov 20, 2024) | $2.3B | above the range | +1.0% |
| Q1 FY25 | $2.1B–$2.1B (Aug 19, 2024) | — | — | — |
Adjusted operating margin
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY26 | 29.2%–29.7% (Aug 18, 2025) → raised 29.5%–30.0% (Nov 19, 2025) → lowered 28.5%–29.0% (Feb 17, 2026) → raised 28.9%–29.2% (Jun 2, 2026) | — | — | — |
| FY25 | 27.5%–28.0% (Aug 19, 2024) → reaffirmed 27.5%–28.0% (Nov 20, 2024) → raised 28.0%–28.5% (Feb 13, 2025) → raised 28.2%–28.5% (May 20, 2025) | — | — | — |
| FY24 | 26.0%–26.5% (Nov 15, 2023) → raised 26.5%–27.0% (Feb 20, 2024) → raised 26.8%–27.0% (May 20, 2024) | — | — | — |
Adjusted EPS
The guide is on an adjusted basis that the GAAP statements do not show, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q4 FY26 | $0.96–$0.98 (Jun 2, 2026) | — | — | — |
| Q3 FY26 | $0.78–$0.80 (Feb 17, 2026) | — | — | — |
| Q2 FY26 | $0.93–$0.95 (Nov 19, 2025) | — | — | — |
| FY26 | $3.75–$3.85 (Aug 18, 2025) → raised $3.80–$3.90 (Nov 19, 2025) → lowered $3.65–$3.70 (Feb 17, 2026) → raised $3.77–$3.79 (Jun 2, 2026) | — | — | — |
| Q1 FY26 | $0.88–$0.90 (Aug 18, 2025) | — | — | — |
| Q4 FY25 | $0.87–$0.89 (May 20, 2025) | — | — | — |
| Q3 FY25 | $0.76–$0.77 (Feb 13, 2025) | — | — | — |
| Q2 FY25 | $1.54–$1.56 (Nov 20, 2024) | — | — | — |
| FY25 | $6.18–$6.31 (Aug 19, 2024) → raised $6.26–$6.39 (Nov 20, 2024) → lowered $3.18–$3.24 (Feb 13, 2025) → raised $3.26–$3.28 (May 20, 2025) | — | — | — |
| Q1 FY25 | $1.47–$1.49 (Aug 19, 2024) | — | — | — |
The latest quarter
Palo Alto Networks, Q4 FY26: revenue $3.4B (+34% year over year), operating margin 5.0%, net loss $282M, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
Questions
Does Palo Alto Networks beat its guidance?
Palo Alto Networks gave guidance in 12 earnings releases on file since Nov 15, 2023. Of 9 guided periods since reported, it met or beat its own guidance 9 times (100%). Revenue: 9 of 9, on average +1.0% against the guided midpoint.
How often does Palo Alto Networks raise guidance?
Its earnings releases raised guidance twice and lowered it 0 times since Nov 15, 2023.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.