FINHUB Insights

PANW · Q2 FY26 · Nov 1, 2025 – Jan 31, 2026

Palo Alto Networks Q2 FY26: where the revenue came from and where it went

Palo Alto Networks Q2 FY26: revenue $2.6B (+15% year over year). Net profit $0.4B. Largest cohort US $1.6B. The whole income statement as a sankey diagram from the SEC filing.

Period
Nov 1, 2025 – Jan 31, 2026
Reported
Feb 18, 2026 10-Q
Sankey diagram of Palo Alto Networks's income statement for Q2 FY26: revenue of $2.6 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$2.6B +15% year over year
Gross profit$1.9B 74% margin
Operating profit$0.4B 15% margin
Net profit$0.4B 17% margin

The numbers

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jan 31, 2026).
ItemValueShare of revenueYear over year
Revenue 2.6 100% +15%
US 1.6 62% +13%
EMEA 0.6 23% +17%
Asia Pacific 0.3 12% +17%
Other Americas 0.1 4% +22%
Cost of revenue−0.727%
Gross profit1.974% margin+0pp
Research & development−0.520%−3pp
Sales & marketing−0.832%−2pp
G&A−0.27%+0pp
Operating profit0.415% margin+5pp
Tax−0.2
Net profit0.417%+5pp
Filing on EDGAR More quarters of PANW

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

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