Operations
Q4 2026
Q4 Revenue
↑ 34.5% YoY
$3.41B
Segments
Network & AI Security
68.4%
Cortex
17.2%
Idira
9.8%
Other
4.6%
Key Earnings Driver
Cortex Network & AI Security revenue increased 17% year over year to $2.3B. Cortex revenue increased 25% to $586M. Idira revenue increased 21% pro forma to $336M. Other revenue increased 5% to $157M. Network & AI Security represented 68% of revenue and was the largest reported platform. Management attributed the quarter’s strength to Network & AI Security, Cortex, and Idira.
Key Operating Metrics¹
METRIC
STATUS
Network & AI Security↑ 17.0%
Cortex↑ 25.0%
🟢 Scaling
Key Financial Metrics
Gross Margin
74.80%
-1 pp YoY
Backlog / Revenue
621.7%
6.21x Qtr Rev
CapEx Intensity
3.02%
0.03x Revenue
Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from Palo Alto Networks website and/or SEC filings for Q4, with status based on reported data.