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PANW Revenue by Segments

Revenue by SegmentsRevenue by Segments

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In the latest fiscal period Q2'26, Palo Alto Networks (PANW) reported a total revenue of 2.59B USD. This figure is comprised of 2.08B USD from the Subscription and support segment and 514M USD from the Product segment. The data from Q3'23 to Q2'26 reveals a consistent upward trajectory in total revenue, primarily driven by the Subscription and support segment, which has demonstrated steady quarter-over-quarter growth. In contrast, the Product segment exhibits a cyclical pattern, typically peaking in the fourth quarter of each fiscal year (such as 573.9M USD in Q4'25) before moderating. Overall, the Subscription and support division remains the dominant revenue driver, increasing its contribution from 1.33B USD in Q3'23 to 2.08B USD by the end of the observed period.