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Palo Alto Networks (PANW) Operating Expenses (2016 - 2026)

Palo Alto Networks' Operating Expenses history spans 16 years, with the latest figure at $1.5 billion for Q1 2026.

  • Quarterly Operating Expenses rose 6.7% to $1.5 billion in Q1 2026 from the year-ago period, while the trailing twelve-month figure was $5.9 billion through Jan 2026, up 8.58% year-over-year, with the annual reading at $5.5 billion for FY2025, 4.59% up from the prior year.
  • Operating Expenses came in at $1.5 billion for Q1 2026, down from $1.5 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $1.5 billion in Q4 2025 to a low of $985.5 million in Q1 2022.
  • The 5-year median for Operating Expenses is $1.3 billion (2024), against an average of $1.3 billion.
  • Year-over-year, Operating Expenses increased 23.79% in 2024 and then dropped 1.26% in 2025.
  • Palo Alto Networks' Operating Expenses stood at $1.1 billion in 2022, then rose by 9.56% to $1.2 billion in 2023, then rose by 9.15% to $1.3 billion in 2024, then increased by 17.55% to $1.5 billion in 2025, then decreased by 0.98% to $1.5 billion in 2026.
  • Per Business Quant, the three most recent readings for PANW's Operating Expenses are $1.5 billion (Q1 2026), $1.5 billion (Q4 2025), and $1.4 billion (Q3 2025).