Palo Alto Networks Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Palo Alto Networks Inc. has filed its 10-Q report for the second quarter of fiscal year 2024, ending January 31, 2024.</b>

AI Summary

Palo Alto Networks Inc (PANW) filed a Quarterly Report (10-Q) with the SEC on February 21, 2024. Palo Alto Networks Inc. filed a 10-Q report for the period ending January 31, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on July 31st. The filing was made on February 21, 2024. Palo Alto Networks Inc. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Palo Alto Networks Inc, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Palo Alto Networks, crucial for assessing the company's current health and future prospects. Understanding the details within this report allows for a timely evaluation of the company's financial position and strategic direction in the cybersecurity market.

Risk Assessment

Risk Level: low — Palo Alto Networks Inc shows low risk based on this filing. The filing is a routine 10-Q, indicating standard financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Palo Alto Networks' performance and outlook.

Key Numbers

• 2024-01-31 — Reporting Period End Date (Fiscal year 2024, second quarter)
• 2024-02-21 — Filing Date (Date the 10-Q was filed)
• 0731 — Fiscal Year End (Annual fiscal year end date)

Key Players & Entities

• Palo Alto Networks Inc. (company) — Filer name
• 3000 TANNERY WAY (address) — Business and mailing address
• SANTA CLARA (location) — City for business and mailing address
• CA (location) — State for business and mailing address
• 95054 (postal_code) — ZIP code for business and mailing address
• DE (location) — State of incorporation

FAQ

Industry Context

Palo Alto Networks operates in the cybersecurity industry, a sector characterized by rapid technological advancements and evolving threat landscapes.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the revenue and net income figures for the reported quarter.
2. Examine the balance sheet for changes in assets, liabilities, and equity.
3. Review the cash flow statement to understand the company's cash generation and usage.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-02-21: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing for the period ending January 31, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

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

Filing Documents

• panw-20240131.htm (10-Q) — 1985KB
• panwex311q224.htm (EX-31.1) — 9KB
• panwex312q224.htm (EX-31.2) — 10KB
• panwex321q224.htm (EX-32.1) — 4KB
• panwex322q224.htm (EX-32.2) — 4KB
• 0001327567-24-000005.txt (&nbsp;) — 9641KB
• panw-20240131.xsd (EX-101.SCH) — 53KB
• panw-20240131_cal.xml (EX-101.CAL) — 101KB
• panw-20240131_def.xml (EX-101.DEF) — 293KB
• panw-20240131_lab.xml (EX-101.LAB) — 800KB
• panw-20240131_pre.xml (EX-101.PRE) — 524KB
• panw-20240131_htm.xml (XML) — 1634KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2 Condensed Consolidated Balance Sheets as of January 31, 202 4 and July 31, 2023 2 Condensed Consolidated Statements of Operations for the Three and Six Months Ended January 31, 202 4 and January 31, 20 23 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended January 31, 202 4 and January 31, 20 23 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended January 31, 202 4 and January 31, 20 23 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended January 31, 202 4 and January 31, 20 23 7 Notes to Condensed Consolidated Financial Statements 8

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 37

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 39

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60

Other Information

Item 5. Other Information 61

Exhibits

Item 6. Exhibits 62

Signatures

Signatures 63 - 1 - Table of Contents Part I

Financial Statements

Item 1. Financial Statements PALO ALTO NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except per share data) January 31, 2024 July 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 1,782.5 $ 1,135.3 Short-term investments 1,588.5 1,254.7 Accounts receivable, net of allowance for credit losses of $ 6.5 and $ 7.8 as of January 31, 2024 and July 31, 2023, respectively 1,896.3 2,463.2 Short-term financing receivables, net 445.5 388.8 Short-term deferred contract costs 328.0 339.2 Prepaid expenses and other current assets 405.9 466.8 Total current assets 6,446.7 6,048.0 Property and equipment, net 352.3 354.5 Operating lease right-of-use assets 355.8 263.3 Long-term investments 3,619.6 3,047.9 Long-term financing receivables, net 639.9 653.3 Long-term deferred contract costs 504.6 547.1 Goodwill 3,372.7 2,926.8 Intangible assets, net 440.1 315.4 Deferred tax assets 2,234.3 23.1 Other assets 326.0 321.7 Total assets $ 18,292.0 $ 14,501.1 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 178.8 $ 132.3 Accrued compensation 452.6 548.3 Accrued and other liabilities 394.2 390.8 Deferred revenue 4,918.1 4,674.6 Convertible senior notes, net 1,821.8 1,991.5 Total current liabilities 7,765.5 7,737.5 Long-term deferred revenue 4,900.3 4,621.8 Deferred tax liabilities 588.5 28.1 Long-term operating lease liabilities 362.7 279.2 Other long-term liabilities 317.8 86.1 Total liabilities 13,934.8 12,752.7 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock; $ 0.0001 par value; 100.0 shares authorized; none issued and outstanding as of January 31, 2024 and July 31, 2023 — — Common stock and additional paid-in capital; $ 0.0001 par value; 1,000.0 shares authorized; 322.7 and 308.3 shares issued and outstanding as of January 31, 2024 and July 31, 2023, respectively 3,650.0 3,019.0 Accumulated other comprehensive loss ( 6.5 ) ( 43.2 ) Retained

View Full Filing

View this 10-Q filing on SEC EDGAR