Palo Alto Networks Q2 FY26: where the revenue came from and where it went
The whole income statement of Palo Alto Networks for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Nov 1, 2025 – Jan 31, 2026
- Reported
- Feb 18, 2026
Revenue$2.59B
+15% year over year
Gross profit$1.91B
74% margin
Operating profit$0.40B
15% margin
Net profit$0.43B
17% margin
Net profit is larger than what operations earned, because the statement adds $0.15B below it, under Other income, net.
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 2.59 | 100% | +15% |
| US | 1.59 | 61% | +13% |
| EMEA | 0.56 | 22% | +17% |
| Asia Pacific | 0.32 | 12% | +17% |
| Other Americas | 0.12 | 5% | +22% |
| Cost of revenue | −0.69 | 26% | |
| Gross profit | 1.91 | 74% margin | +0pp |
| R&D | −0.51 | 19% | −3pp |
| Sales & marketing | −0.82 | 32% | −2pp |
| G&A | −0.18 | 7% | +0pp |
| Operating profit | 0.40 | 15% margin | +5pp |
| Other income, net | 0.15 | ||
| Tax | −0.12 | ||
| Net profit | 0.43 | 17% margin | +5pp |
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