Filing Flows › Palo Alto Networks (PANW) › Q4 FY26 › vs Q3 FY26
Palo Alto Networks (PANW) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Palo Alto Networks's revenue rose $408M (+14%) from $3.0B in Q3 FY26 to $3.4B in Q4 FY26. The biggest changes: Subscription and support +$264M (+11%); Product +$144M (+24%).
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 draws each line against Q3 FY26, the increases inside each band.
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Subscription | $1.8B | $1.6B | $207M | +13% |
| Support | $833M | $776M | $57.0M | +7% |
| Subscription and support | $2.7B | $2.4B | $264M | +11% |
| Product | $738M | $594M | $144M | +24% |
| Revenue | $3.4B | $3.0B | $408M | +14% |
| Net loss | $282M | $177M | $105M | +59% |
| Costs & expenses | $3.7B | $3.2B | $486M | +15% |
| Operating costs | $3.2B | $3.2B | $53.0M | +2% |
| Interest & other, net | $441M | −$27.0M | $468M | — |
| Income tax | $13.0M | $21.0M | −$8.0M | -38% |
| Cost of revenue | $1.1B | $974M | $132M | +14% |
| Research & development | $779M | $734M | $45.0M | +6% |
| Sales & marketing | $1.1B | $1.2B | −$34.0M | -3% |
| General & admin | $226M | $316M | −$90.0M | -28% |
| Operating cash sources | $1.6B | $1.0B | $591M | +56% |
| Depreciation & amortization | $341M | $334M | $7.0M | +2% |
| Share-based compensation | $460M | $643M | −$183M | -28% |
| Working capital & other | $838M | $71.0M | $767M | 12× |
| Net loss absorbed | $282M | $177M | $105M | +59% |
| Operating cash flow | $1.4B | $871M | $486M | +56% |
Questions
How much did Palo Alto Networks's revenue grow quarter over quarter in Q4 FY26?
Palo Alto Networks's revenue rose $408M (+14%) from $3.0B in Q3 FY26 to $3.4B in Q4 FY26.
What drove Palo Alto Networks's revenue change in Q4 FY26?
Subscription and support +$264M (+11%); Product +$144M (+24%).