The earnings call primarily highlighted significant growth in ARR, especially in next-generation security and AI-driven innovations, despite some geopolitical uncertainties and challenges with contract durations.

Company Guidance -

Q4 2025

During the Palo Alto Networks fiscal third quarter 2025 earnings call, the company reported significant growth and set ambitious targets. They achieved a next-generation security ARR milestone of $5 billion, marking a 34% increase year-over-year, and they aim for a $15 billion ARR target by FY '30. Their Q3 revenue reached $2.29 billion, growing 15% from the previous year, and they maintained a strong gross margin of 76%. The product revenue saw a 16% increase, while total services revenue grew by 15%. The company's remaining performance obligation grew 19% to $13.5 billion. Looking ahead, they project Q4 revenue between $2.49 billion and $2.51 billion and non-GAAP EPS of $0.87 to $0.89. Their strategic focus on AI-driven solutions, platformization, and integration across their product offerings underpins their confidence in sustainable growth and industry leadership.

Record-Breaking ARR in Next-Generation Security

Palo Alto Networks crossed $5 billion in next-generation security ARR, a growth of 34% year-over-year.

Strong Momentum with XSIAM

XSIAM ARR grew over 200% year-over-year in Q3. It is noted as the fastest-growing product in the company's history with an ARR per customer of over $1 million.

Significant Growth in SASE

SASE ARR grew 36% year-over-year, more than twice the market rate, with approximately 6,000 SASE customers.

Platformization Strategy Success

Achieved over 90 net new platformization deals in Q3, with the number of customers with multiple platformizations growing nearly 70% year-over-year.

AI-Driven Innovations

Introduction of Prisma AIRS and acquisition of Protect.ai to strengthen AI security offerings; strong pipeline and early customer interest indicated.

Robust Financial Performance

Total revenue of $2.29 billion, a 15% increase, with product revenue growing 16% and services revenue 15%.

Palo Alto Networks (PANW) Earnings, Revenues Date & History

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PANW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 18, 2025	2025 (Q4)	0.89 / -	0.755	―	―	―
May 20, 2025	2025 (Q3)	0.77 / 0.80	0.66	21.21% (+0.14)
Feb 13, 2025	2025 (Q2)	0.78 / 0.81	0.73	10.96% (+0.08)
Nov 20, 2024	2025 (Q1)	0.74 / 0.78	0.69	13.04% (+0.09)
Aug 19, 2024	2024 (Q4)	0.70 / 0.76	0.72	4.86% (+0.04)
May 20, 2024	2024 (Q3)	0.64 / 0.66	0.55	20.00% (+0.11)
Feb 20, 2024	2024 (Q2)	0.65 / 0.73	0.525	39.05% (+0.20)
Nov 15, 2023	2024 (Q1)	0.60 / 0.69	0.415	66.27% (+0.27)
Aug 18, 2023	2023 (Q4)	0.64 / 0.72	0.398	80.90% (+0.32)
May 23, 2023	2023 (Q3)	0.47 / 0.55	0.298	84.56% (+0.25)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PANW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 20, 2025	$194.48	$181.26	-6.80%
Feb 13, 2025	$201.88	$200.03	-0.92%
Nov 20, 2024	$196.44	$198.85	+1.23%
Aug 19, 2024	$171.68	$184.00	+7.18%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.