Secure Access Service Edge Archives

Key Financial Metrics

Gross Margin 77.00% +1 pp YoY

Backlog / Revenue 819.8% 8.19x Qtr Rev

CapEx Intensity 22.25% 0.22x Revenue

Operations

As of September 2, 2026

Q4 Revenue ↑ 34% YoY $3.41B

Divisions

Network & AI Security 68.4%

Cortex 17.2%

Idira 9.8%

Other 4.6%

Key Earnings Driver

Network & AI Security 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%

🟢 Scaling

Cortex↑ 25%

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

Sources: Palo Alto Networks Q4 FY2026 Earnings Release — Company Website, Palo Alto Networks Q4 FY2026 Earnings Presentation — Company Website, Palo Alto Networks Q4 FY2026 Supplemental Financial Information

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.