Palo Alto Networks (PANW) Operating Expenses (2011 - 2026)

Palo Alto Networks' Operating Expenses history runs 16 years deep, the most recent figure standing at $1.5 billion for Q1 2026.

• In Q1 2026, Operating Expenses rose 6.7% year-over-year to $1.5 billion; the TTM figure through Jan 2026 stood at $5.9 billion (up 8.58% YoY), while the FY2025 annual figure was $5.5 billion, up 4.59% from the prior year.
• Operating Expenses was $1.5 billion for Q1 2026 at Palo Alto Networks, 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.
• Historically, Operating Expenses has averaged $1.3 billion across 5 years, with a median of $1.3 billion in 2024.
• The sharpest annual moves came in 2024 and 2025: Operating Expenses rose 23.79% in 2024, then decreased 1.26% in 2025.
• A 5-year view of Operating Expenses shows it stood at $1.1 billion in 2022, then grew by 9.56% to $1.2 billion in 2023, then gained by 9.15% to $1.3 billion in 2024, then climbed by 17.55% to $1.5 billion in 2025, then fell by 0.98% to $1.5 billion in 2026.
• The last three Operating Expenses figures came in at $1.5 billion (Q1 2026), $1.5 billion (Q4 2025), and $1.4 billion (Q3 2025), per Business Quant data.