As of Q2'26 (2026-01-31), PANW reported a revenue surprise of 0.44% and a year-over-year revenue growth of 14.91%. This indicates that actual revenues slightly exceeded analyst expectations, while the company continued to deliver strong double-digit growth compared to the same quarter last year. Over the period from Q3'23 to Q2'26, PANW's revenue surprise percentages have generally remained positive, with only one minor negative surprise in Q4'23. The revenue growth (YoY) trend shows a gradual deceleration from a peak of 25.98% in Q4'23 to the latest 14.91% in Q2'26, though growth rates stabilized in the mid-teens from Q3'24 onward. This suggests that while PANW is consistently outperforming expectations, its pace of revenue expansion is moderating as the business matures.