Palo Alto Networks (PANW) Research & Development (2011 - 2026)

Palo Alto Networks' Research & Development history runs 16 years deep, the most recent figure standing at $823.0 million for Q1 2026.

• On a quarterly basis, Research & Development rose 62.97% year-over-year to $823.0 million in Q1 2026; TTM through Jan 2026 was $3.8 billion, a 39.88% increase from a year earlier, with the FY2025 full-year figure at $3.1 billion, up 10.94% from the prior year.
• Research & Development held at $823.0 million in Q1 2026 per PANW's latest filing, from $820.0 million in the prior quarter.
• Across five years, Research & Development topped out at $1.6 billion in Q3 2025 and bottomed at $355.4 million in Q2 2022.
• The 5-year median for Research & Development is $673.0 million (2024), against an average of $749.4 million.
• Across the five-year window, Research & Development jumped 985.92% in 2022 and tumbled 45.19% in 2024, its largest moves.
• Year by year, Research & Development stood at $615.0 million in 2022, then plunged by 33.41% to $409.5 million in 2023, then surged by 75.82% to $720.0 million in 2024, then increased by 13.89% to $820.0 million in 2025, then rose by 0.37% to $823.0 million in 2026.
• Per Business Quant, the three latest PANW Research & Development figures stand at $823.0 million (Q1 2026), $820.0 million (Q4 2025), and $1.6 billion (Q3 2025).