Palo Alto Networks Files 2024 10-K

TL;DR

PANW filed its 2024 10-K. Full financials out.

AI Summary

Palo Alto Networks Inc. filed its 10-K for the fiscal year ending July 31, 2024. The company, headquartered in Santa Clara, CA, operates in the computer peripheral equipment sector. This filing provides a comprehensive overview of its financial performance and business operations for the reported period.

Why It Matters

This 10-K filing provides investors and analysts with the official financial statements and business overview for Palo Alto Networks for the fiscal year 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — This is a standard annual financial filing and does not inherently present new risks.

Key Numbers

• 2024 — Fiscal Year End (The period covered by the 10-K filing.)
• 2023-08-01 to 2024-07-31 — Reporting Period (The specific dates for which financial information is reported.)

Key Players & Entities

• Palo Alto Networks Inc. (company) — Filer of the 10-K
• 20240731 (date) — Fiscal year end
• 3000 TANNERY WAY, SANTA CLARA, CA 95054 (location) — Company's business and mail address
• 408-753-4000 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common stock, $0.0001 par value per share PANW The Nasdaq Sto

Filing Documents

• panw-20240731.htm (10-K) — 2753KB
• panwex1042021equityincenti.htm (EX-10.4) — 201KB
• panwex1052021eipoption.htm (EX-10.5) — 81KB
• panwex1062021eiprsu.htm (EX-10.6) — 359KB
• panwex1072012employeestock.htm (EX-10.7) — 515KB
• panwex1016amendedclawbackp.htm (EX-10.16) — 10KB
• panwex191insidertradingpol.htm (EX-19.1) — 151KB
• panwex211fy24.htm (EX-21.1) — 44KB
• panwex231fy24.htm (EX-23.1) — 10KB
• panwex311q424.htm (EX-31.1) — 10KB
• panwex312q424.htm (EX-31.2) — 9KB
• panwex321q424.htm (EX-32.1) — 4KB
• panwex322q424.htm (EX-32.2) — 4KB
• panwex971compensationrecov.htm (EX-97.1) — 22KB
• panw-20240731_g1.jpg (GRAPHIC) — 103KB
• 0001327567-24-000029.txt ( ) — 15800KB
• panw-20240731.xsd (EX-101.SCH) — 82KB
• panw-20240731_cal.xml (EX-101.CAL) — 135KB
• panw-20240731_def.xml (EX-101.DEF) — 424KB
• panw-20240731_lab.xml (EX-101.LAB) — 1065KB
• panw-20240731_pre.xml (EX-101.PRE) — 760KB
• panw-20240731_htm.xml (XML) — 2370KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 36 Item 1C. Cybersecurity 37 Item 2.

Properties

Properties 39 Item 3.

Legal Proceedings

Legal Proceedings 39 Item 4. Mine Safety Disclosures 39 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. [Reserved] 42 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 58 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 96 Item 9A.

Controls and Procedures

Controls and Procedures 96 Item 9B. Other Information 97 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 97 PART III Item 10. Directors, Executive Officers and Corporate Governance 98 Item 11.

Executive Compensation

Executive Compensation 98 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 98 Item 13. Certain Relationships and Related Transactions, and Director Independence 98 Item 14. Principal Accountant Fees and Services 98 PART IV Item 15. Exhibits and Financial Statement Schedules 99 Item 16. Form 10-K Summary 103

Signatures

Signatures 104 - 2 - Table of Contents Part I SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, including, without limitation, the sections entitled "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potentially," "projects," "will," "will be," "will continue," "will likely result," "would," and similar expressions that convey uncertainty of future events or outcomes. These forward-looking statements include, but are not limited to, statements concerning the following: expectations regarding the cybersecurity landscape; expectations regarding our platformization strategy and related progress and opportunities; expectations regarding annual recurring revenue and product development strategy; expectations regarding artificial intelligence; expectations regarding our strategic partnerships; expectations regarding drivers of and factors affecting growth in our business; expected recurring revenues resulting from growth in our end-customers and increased adoption of our products and cloud-delivered security solutions; the performance advantages of our products and subscription and support offerings and the potential benefits to our customers; expectations regarding future investments in research and development and product development, customer support, in our employees and in

Business

Item 1. Business General Palo Alto Networks, Inc. is a global cybersecurity provider with a vision of a world where each day is safer and more secure than the one before. We were incorporated in 2005 and are headquartered in Santa Clara, California. We empower enterprises, organizations, service providers, and government entities to protect themselves against today's most sophisticated cyber threats. Our cybersecurity platforms and services help secure enterprise users, networks, clouds, and endpoints by delivering comprehensive cybersecurity backed by artificial intelligence ("AI") and automation. A key element of our strategy is to help our customers simplify their security architectures through consolidating disparate point products. We execute on this strategy by developing our capabilities and packaging our offerings into platforms which are able to cover many of our customers' needs in the markets in which we operate. Our platformization strategy combines various products and services into a tightly integrated architecture and makes security faster, less complex, and more cost-effective. We focus on delivering value in four sectors of the cybersecurity industry: Network Security: Our network security platform, designed to deliver complete zero trust solutions to our customers, includes our hardware and software ML-Powered Next-Generation Firewalls, AI Runtime Security, as well as a cloud-delivered Secure Access Service Edge ("SASE"). Prisma Access, our Security Services Edge ("SSE") solution, when combined with Prisma SD-WAN, provides a comprehensive single-vendor SASE offering that is used to secure remote workforces and securely enable the cloud-delivered branch. Our network security platform also includes our cloud-delivered security services, such as Advanced Threat Prevention, Advanced WildFire , Advanced URL Filtering, Advanced DNS Security, IoT/OT Security, GlobalProtect , Enterprise Data Loss Prevention ("Enterprise DLP"), AI for IT Operations ("

View Full Filing

View this 10-K filing on SEC EDGAR