Palo Alto Networks (PANW) Cost of Revenue (2011 - 2026)

Palo Alto Networks' Cost of Revenue history runs 16 years deep, the most recent figure standing at $685.0 million for Q1 2026.

• In Q1 2026, Cost of Revenue rose 14.36% year-over-year to $685.0 million; the TTM figure through Jan 2026 stood at $2.6 billion (up 17.01% YoY), while the FY2025 annual figure was $2.5 billion, up 19.06% from the prior year.
• Cost of Revenue for Q1 2026 stood at $685.0 million, up from $638.0 million in the prior quarter.
• The five-year high for Cost of Revenue was $685.0 million in Q1 2026, with the low at $405.3 million in Q1 2022.
• The 5-year median for Cost of Revenue is $506.8 million (2023), against an average of $534.2 million.
• The sharpest annual moves came in 2022 and 2023: Cost of Revenue surged 37.17% in 2022, then climbed 2.36% in 2023.
• Palo Alto Networks' Cost of Revenue stood at $461.9 million in 2022, then gained by 2.36% to $472.8 million in 2023, then grew by 17.17% to $554.0 million in 2024, then rose by 15.16% to $638.0 million in 2025, then advanced by 7.37% to $685.0 million in 2026.
• Business Quant data shows PANW's Cost of Revenue at $685.0 million in Q1 2026, $638.0 million in Q4 2025, and $679.0 million in Q3 2025.