Palo Alto Networks Files Q1 FY25 10-Q

TL;DR

**PANW Q1 FY25 10-Q FILED** - Check financials for cybersecurity giant.

AI Summary

Palo Alto Networks Inc. filed its 10-Q for the period ending October 31, 2024. The filing covers the first quarter of their fiscal year 2025. 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 and operational insights for Palo Alto Networks, a major player in the cybersecurity industry.

Risk Assessment

Risk Level: medium — As a publicly traded technology company, Palo Alto Networks faces inherent market, competitive, and operational risks detailed in its SEC filings.

Key Numbers

• 2025 Q1 — Fiscal Quarter (Reporting period for the 10-Q)
• 0731 — Fiscal Year End (Indicates the company's annual reporting cycle)

Key Players & Entities

• Palo Alto Networks Inc. (company) — Filer of the 10-Q report
• 20241031 (date) — End of the reporting period
• 20241121 (date) — Date of filing
• 001-35594 (other) — SEC File 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-20241031.htm (10-Q) — 1684KB
• panwex311q125.htm (EX-31.1) — 9KB
• panwex312q125.htm (EX-31.2) — 10KB
• panwex321q125.htm (EX-32.1) — 4KB
• panwex322q125.htm (EX-32.2) — 4KB
• 0001327567-24-000040.txt ( ) — 9242KB
• panw-20241031.xsd (EX-101.SCH) — 51KB
• panw-20241031_cal.xml (EX-101.CAL) — 104KB
• panw-20241031_def.xml (EX-101.DEF) — 292KB
• panw-20241031_lab.xml (EX-101.LAB) — 775KB
• panw-20241031_pre.xml (EX-101.PRE) — 537KB
• panw-20241031_htm.xml (XML) — 1514KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2 Condensed Consolidated Balance Sheets as of October 31, 2024 and July 31, 2024 2 Condensed Consolidated Statements of Operations for the Three Months Ended October 31, 2024 and October 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended October 3 1 , 2024 and October 3 1 , 2023 4 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended October 3 1 , 2024 and October 3 1 , 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended October 31, 2024 and October 31, 2023 6 Notes to Condensed Consolidated Financial Statements 7

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 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

Controls and Procedures

Item 4. Controls and Procedures 37

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 59

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 61

Signatures

Signatures 62 - 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) October 31, 2024 July 31, 2024 (unaudited) Assets Current assets: Cash and cash equivalents $ 2,282.8 $ 1,535.2 Short-term investments 1,108.2 1,043.6 Accounts receivable, net of allowance for credit losses of $ 8.6 and $ 7.5 as of October 31, 2024 and July 31, 2024, respectively 1,132.9 2,618.6 Short-term financing receivables, net 805.1 725.9 Short-term deferred contract costs 367.6 369.0 Prepaid expenses and other current assets 546.1 557.4 Total current assets 6,242.7 6,849.7 Property and equipment, net 361.0 361.1 Operating lease right-of-use assets 389.0 385.9 Long-term investments 4,119.7 4,173.2 Long-term financing receivables, net 1,092.2 1,182.1 Long-term deferred contract costs 531.9 562.0 Goodwill 4,050.8 3,350.1 Intangible assets, net 809.6 374.9 Deferred tax assets 2,397.5 2,399.0 Other assets 380.2 352.9 Total assets $ 20,374.6 $ 19,990.9 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 211.6 $ 116.3 Accrued compensation 354.5 554.7 Accrued and other liabilities 683.1 506.7 Deferred revenue 5,507.7 5,541.1 Convertible senior notes, net 645.8 963.9 Total current liabilities 7,402.7 7,682.7 Long-term deferred revenue 5,585.9 5,939.4 Deferred tax liabilities 250.8 387.7 Long-term operating lease liabilities 379.6 380.5 Other long-term liabilities 843.8 430.9 Total liabilities 14,462.8 14,821.2 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock; $ 0.0001 par value; 100.0 shares authorized; none issued and outstanding as of October 31, 2024 and July 31, 2024 — — Common stock and additional paid-in capital; $ 0.0001 par value; 1,000.0 shares authorized; 327.7 and 325.1 shares issued and outstanding as of October 31, 2024 and July 31, 2024, respectively 4,214.9 3,821.1 Accumulated other comprehensive loss ( 4.0 ) ( 1.6 ) Reta

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View this 10-Q filing on SEC EDGAR