Sector: Technology|Industry: Software - Infrastructure|Market Cap: $128.98B|Employees: 15.3K
Palo Alto Networks is a global cybersecurity provider that offers a comprehensive suite of security platforms and services to protect enterprise users, networks, and clouds. The company's core business model is centered around its AI-powered next-generation firewalls and cloud-delivered security services, which are sold as products and subscriptions. Palo Alto Networks holds a leading market position due to its innovative technology and strong customer base.
Total revenue reached $8.0275 billion, up 16.5% YoY, driven by increased adoption of the company's portfolio. This indicates a solid demand for their products and services.
Subscription and support revenue grew to $6.4 billion, representing 80% of total revenue, a 20.9% YoY increase. This highlights the company's success in building a recurring revenue stream.
Operating income increased to $683.9 million, compared to $387.3 million in the previous year. This indicates improved profitability and operational efficiency.