Palo Alto Networks Files Q3 2024 10-Q

TL;DR

PANW Q3 10-Q is in. Check financials for latest cyber security performance.

AI Summary

Palo Alto Networks Inc. filed its 10-Q for the period ending April 30, 2024. The filing covers the third quarter of their fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance in cybersecurity solutions.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Palo Alto Networks, crucial for understanding their position in the cybersecurity market.

Risk Assessment

Risk Level: medium — The company operates in the highly competitive and rapidly evolving cybersecurity industry, facing risks from technological changes and market dynamics.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter are not directly extractable from the provided header data.)
• N/A — Net Income (Specific net income figures for the quarter are not directly extractable from the provided header data.)
• 0.0100806 — Earnings Per Share (Indicates a specific EPS value, though the exact period is not fully detailed in the header.)

Key Players & Entities

• Palo Alto Networks Inc (company) — Filer of the 10-Q
• 2024-04-30 (date) — End of reporting period
• 2024-05-21 (date) — Filing date
• 3000 TANNERY WAY, SANTA CLARA, CA 95054 (address) — Company's business and mailing address

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-20240430.htm (10-Q) — 1939KB
• panwex311q324.htm (EX-31.1) — 9KB
• panwex312q324.htm (EX-31.2) — 10KB
• panwex321q324.htm (EX-32.1) — 4KB
• panwex322q324.htm (EX-32.2) — 4KB
• 0001327567-24-000017.txt ( ) — 9365KB
• panw-20240430.xsd (EX-101.SCH) — 52KB
• panw-20240430_cal.xml (EX-101.CAL) — 103KB
• panw-20240430_def.xml (EX-101.DEF) — 283KB
• panw-20240430_lab.xml (EX-101.LAB) — 732KB
• panw-20240430_pre.xml (EX-101.PRE) — 515KB
• panw-20240430_htm.xml (XML) — 1571KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2 Condensed Consolidated Balance Sheets as o f April 3 0 , 2024 and July 31, 2023 2 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended April 3 0 , 2024 and April 3 0 , 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended April 3 0 , 2024 and April 3 0 , 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended April 3 0 , 2024 and April 3 0 , 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended April 3 0 , 2024 and April 3 0 , 2023 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) April 30, 2024 July 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 1,373.7 $ 1,135.3 Short-term investments 1,516.7 1,254.7 Accounts receivable, net of allowance for credit losses of $ 8.2 and $ 7.8 as of April 30, 2024 and July 31, 2023, respectively 1,715.4 2,463.2 Short-term financing receivables, net 572.3 388.8 Short-term deferred contract costs 337.0 339.2 Prepaid expenses and other current assets 403.7 466.8 Total current assets 5,918.8 6,048.0 Property and equipment, net 350.3 354.5 Operating lease right-of-use assets 369.7 263.3 Long-term investments 3,504.4 3,047.9 Long-term financing receivables, net 882.5 653.3 Long-term deferred contract costs 511.2 547.1 Goodwill 3,372.7 2,926.8 Intangible assets, net 407.9 315.4 Deferred tax assets 2,291.9 23.1 Other assets 321.4 321.7 Total assets $ 17,930.8 $ 14,501.1 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 108.9 $ 132.3 Accrued compensation 385.9 548.3 Accrued and other liabilities 412.6 390.8 Deferred revenue 5,014.9 4,674.6 Convertible senior notes, net 1,162.5 1,991.5 Total current liabilities 7,084.8 7,737.5 Long-term deferred revenue 5,152.7 4,621.8 Deferred tax liabilities 503.0 28.1 Long-term operating lease liabilities 369.8 279.2 Other long-term liabilities 352.7 86.1 Total liabilities 13,463.0 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 April 30, 2024 and July 31, 2023 — — Common stock and additional paid-in capital; $ 0.0001 par value; 1,000.0 shares authorized; 323.4 and 308.3 shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively 3,530.7 3,019.0 Accumulated other comprehensive loss ( 55.4 ) ( 43.2 ) Retained earnin

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View this 10-Q filing on SEC EDGAR