Palo Alto Networks Inc

Company facts

Industry

Computer Peripheral Equipment, NEC

Headquarters

Santa Clara, California

Most recent report

8-K, filed Sep 1, 2026

Incorporated

Delaware

Filings on record

1,002+ filings

On EDGAR

CIK 1327567

Fiscal year ends

July

Filer status

Large accelerated filer

What to read: Apr 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 0 positive, 8 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Core financial data: balance sheet, income, cash flow, notes. Must-read.
  Notable

  • New $1.25B 0% convertible notes due 2030 were assumed in CyberArk deal; $1.1B principal remains.
  • Repurchased $1.0B of stock in Q3 2026 (7M shares at avg $147.70), first buyback in this fiscal year.
  Negative

  • Accrued $150M for Centripetal patent judgment; appeal pending, bond posted to stay execution.

• Management's Discussion (Item 2)

  Acquisitions flipped revenue up 31% but operating profit to loss; massive SBC and debt details.
  Notable

  • CyberArk acquisition: $21.1B total consideration, $2.3B cash and 112M shares; closed Feb 11, 2026.
  • 2030 Notes: $153M converted during Q3; $1.1B outstanding; conversion condition not met for next quarter.
  • Purchase commitments total $8.6B at April 30, 2026, up from $6.9B at January 31, 2026.

• Risk Factors (Item 1A)

  Acquisition integration, expanded AI/tax risks, new risk factors, litigation detail.
  Notable

  • AI risk factor expanded: now covers deployment/use risks, malicious actor exploitation, and market perception effects.
  • Revenue growth accelerated to 21% for the nine months ended April 30, 2026, up from 15% a year earlier.
  • Channel partner concentration fell to two distributors at 31% revenue, from three at 42% in the prior period.
  Negative

  • Headcount exploded to 21,491 with ~4,166 from CyberArk; integration and management strain are real risks.
  • Centripetal Networks patent judgment of $114 million plus interest is on appeal; upside risk of cash outflow.

What changed: Apr 2026 vs. Jan 2026

About 11% of PANW's Apr 2026 10-Q is new information. 64 paragraphs were added, 178 changed, and 29 removed. Below are the most important lines SECSift identified.

• Item 1 91
• Item 2 62
• Item 1A 36
• Item 4 2
• Item 3 1
• Item 5 1