Palo Alto (PANW) operating expenses was $5.5B in FY2025 (+5% YoY). The tables below show the complete quarterly and annual operating expenses history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual Operating Expenses
Fiscal Year
Operating Expenses
YoY
2025
$5.5B
+5%
2024
$5.3B
+15%
2023
$4.6B
+16%
2022
$4.0B
+21%
2021
$3.3B
+27%
2020
$2.6B
+21%
2019
$2.1B
+24%
2018
$1.7B
+19%
2017
$1.5B
+25%
2016
$1.2B
+50%
2015
$776M
+19%
2014
$654M
+114%
2013
$305M
+69%
2012
$181M
+87%
2011
$97M
Recent Quarterly Operating Expenses
Quarter
Operating Expenses
Q1 2026
$2.2B
Q3 2025
$1.5B
Q2 2025
$1.4B
Q1 2025
$1.5B
Q3 2024
$1.3B
Q2 2024
$1.4B
Q1 2024
$1.3B
Q3 2023
$1.2B
Q2 2023
$1.2B
Q1 2023
$1.2B
Q3 2022
$1.1B
Q2 2022
$1.0B
Source: PANW on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.