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.

• On a quarterly basis, Cost of Revenue rose 14.36% year-over-year to $685.0 million in Q1 2026; TTM through Jan 2026 was $2.6 billion, a 17.01% increase from a year earlier, with the FY2025 full-year figure at $2.5 billion, up 19.06% from the prior year.
• Cost of Revenue climbed to $685.0 million in Q1 2026 per PANW's latest filing, from $638.0 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $685.0 million in Q1 2026 and bottomed 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.
• Across the five-year window, Cost of Revenue surged 37.17% in 2022 and rose 2.36% in 2023, its largest moves.
• Year by year, Cost of Revenue stood at $461.9 million in 2022, then advanced by 2.36% to $472.8 million in 2023, then increased by 17.17% to $554.0 million in 2024, then gained by 15.16% to $638.0 million in 2025, then climbed by 7.37% to $685.0 million in 2026.
• Per Business Quant, the three latest PANW Cost of Revenue figures stand at $685.0 million (Q1 2026), $638.0 million (Q4 2025), and $679.0 million (Q3 2025).