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

Palo Alto Networks (PANW) has reported Cost of Revenue for 16 consecutive years, with $823.0 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Cost of Revenue rose 37.4% year-over-year to $823.0 million; the TTM figure through Jan 2026 stood at $3.8 billion (up 35.36% YoY), while the FY2025 annual figure was $3.1 billion, up 10.94% from the prior year.
• Cost of Revenue came in at $823.0 million for Q1 2026 at Palo Alto Networks, roughly flat from $820.0 million in the prior quarter.
• The five-year high for Cost of Revenue was $1.3 billion in Q3 2025, with the low at $29.7 million in Q3 2023.
• Average Cost of Revenue over 5 years is $622.6 million, with a median of $639.5 million recorded in 2023.
• Across the five-year window, Cost of Revenue tumbled 78.85% in 2023 and jumped 2399.33% in 2024, its largest moves.
• Year by year, Cost of Revenue stood at $615.0 million in 2022, then dropped by 23.12% to $472.8 million in 2023, then soared by 52.28% to $720.0 million in 2024, then advanced by 13.89% to $820.0 million in 2025, then climbed by 0.37% to $823.0 million in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $823.0 million, $820.0 million, and $1.3 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.