Stock Analysis on Net
Stock Analysis on Net

Palo Alto Networks Inc. (NASDAQ:PANW)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Palo Alto Networks Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020 Oct 31, 2019 Jul 31, 2019 Apr 30, 2019 Jan 31, 2019 Oct 31, 2018 Jul 31, 2018 Apr 30, 2018 Jan 31, 2018 Oct 31, 2017
Product 390,700 341,100 507,400 388,100 352,900 330,000 408,100 351,500 308,000 295,500 339,400 288,900 254,700 237,300 305,600 280,900 246,500 231,200 305,700 278,400 271,600 240,500 267,600 215,200 202,200 186,500
Subscription and support 1,584,400 1,537,000 1,445,900 1,332,800 1,302,200 1,233,400 1,142,400 1,035,200 1,008,900 951,900 879,900 785,000 762,200 708,700 644,800 588,500 570,200 540,700 500,100 448,200 439,600 415,500 390,500 351,900 340,200 319,000
Revenue 1,975,100 1,878,100 1,953,300 1,720,900 1,655,100 1,563,400 1,550,500 1,386,700 1,316,900 1,247,400 1,219,300 1,073,900 1,016,900 946,000 950,400 869,400 816,700 771,900 805,800 726,600 711,200 656,000 658,100 567,100 542,400 505,500
Product (88,200) (77,400) (104,300) (93,400) (100,500) (120,100) (142,800) (126,000) (97,800) (88,900) (88,800) (81,900) (75,600) (62,200) (87,300) (73,300) (68,700) (65,100) (82,200) (78,000) (82,500) (73,200) (82,000) (68,900) (63,900) (57,600)
Subscription and support (410,900) (395,400) (402,500) (381,400) (365,700) (341,800) (349,500) (314,500) (307,500) (291,700) (270,100) (248,700) (232,000) (215,600) (203,100) (185,000) (164,400) (152,600) (135,200) (126,900) (120,100) (110,300) (102,700) (91,000) (95,400) (83,800)
Cost of revenue (499,100) (472,800) (506,800) (474,800) (466,200) (461,900) (492,300) (440,500) (405,300) (380,600) (358,900) (330,600) (307,600) (277,800) (290,400) (258,300) (233,100) (217,700) (217,400) (204,900) (202,600) (183,500) (184,700) (159,900) (159,300) (141,400)
Gross profit 1,476,000 1,405,300 1,446,500 1,246,100 1,188,900 1,101,500 1,058,200 946,200 911,600 866,800 860,400 743,300 709,300 668,200 660,000 611,100 583,600 554,200 588,400 521,700 508,600 472,500 473,400 407,200 383,100 364,100
Research and development (447,900) (409,500) (414,400) (413,700) (404,100) (371,800) (363,800) (355,400) (359,000) (339,500) (325,300) (311,000) (266,700) (237,400) (215,900) (196,300) (185,400) (170,500) (158,700) (139,100) (128,300) (113,400) (110,300) (99,600) (96,600) (94,200)
Sales and marketing (673,000) (660,500) (664,000) (639,500) (625,500) (615,000) (570,600) (543,600) (528,800) (505,900) (489,800) (448,000) (427,400) (388,600) (391,200) (388,400) (374,900) (365,700) (370,400) (339,000) (320,000) (314,600) (297,800) (277,100) (265,000) (258,500)
General and administrative (301,500) (120,100) (114,600) (114,200) (119,400) (99,500) (108,400) (94,800) (97,700) (104,100) (105,700) (94,700) (104,000) (86,700) (70,700) (82,900) (76,200) (69,800) (69,200) (62,300) (53,700) (76,600) (56,700) (82,100) (53,300) (65,700)
Operating expenses (1,422,400) (1,190,100) (1,193,000) (1,167,400) (1,149,000) (1,086,300) (1,042,800) (993,800) (985,500) (949,500) (920,800) (853,700) (798,100) (712,700) (677,800) (667,600) (636,500) (606,000) (598,300) (540,400) (502,000) (504,600) (464,800) (458,800) (414,900) (418,400)
Operating income (loss) 53,600 215,200 253,500 78,700 39,900 15,200 15,400 (47,600) (73,900) (82,700) (60,400) (110,400) (88,800) (44,500) (17,800) (56,500) (52,900) (51,800) (9,900) (18,700) 6,600 (32,100) 8,600 (51,600) (31,800) (54,300)
Interest expense (2,800) (2,900) (5,700) (7,800) (6,900) (6,800) (6,900) (6,800) (6,800) (6,900) (41,400) (41,000) (40,700) (40,200) (31,400) (19,400) (19,000) (18,900) (20,000) (20,600) (20,600) (22,700) (10,400) (6,500) (6,400) (6,300)
Other income (expense), net 84,700 70,300 68,700 60,100 51,400 26,000 8,800 1,900 (100) (1,600) (500) 1,000 (500) 2,400 800 8,100 10,800 16,200 16,200 18,200 16,000 13,000 10,200 8,600 4,900 4,800
Income (loss) before income taxes 135,500 282,600 316,500 131,000 84,400 34,400 17,300 (52,500) (80,800) (91,200) (102,300) (150,400) (130,000) (82,300) (48,400) (67,800) (61,100) (54,500) (13,700) (21,100) 2,000 (41,800) 8,400 (49,500) (33,300) (55,800)
(Provision for) benefit from income taxes 1,611,400 (88,400) (88,800) (23,200) (200) (14,400) (14,000) (20,700) (12,700) (12,400) (17,000) 5,300 (12,300) (9,900) (10,500) (7,000) (12,600) (5,100) (7,100) 900 (4,600) 3,500 (10,700) 2,800 (1,600) (8,200)
Net income (loss) 1,746,900 194,200 227,700 107,800 84,200 20,000 3,300 (73,200) (93,500) (103,600) (119,300) (145,100) (142,300) (92,200) (58,900) (74,800) (73,700) (59,600) (20,800) (20,200) (2,600) (38,300) (2,300) (46,700) (34,900) (64,000)

Based on: 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-K (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31), 10-K (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31), 10-Q (reporting date: 2018-10-31), 10-K (reporting date: 2018-07-31), 10-Q (reporting date: 2018-04-30), 10-Q (reporting date: 2018-01-31), 10-Q (reporting date: 2017-10-31).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Palo Alto Networks Inc. revenue decreased from Q4 2023 to Q1 2024 but then increased from Q1 2024 to Q2 2024 exceeding Q4 2023 level.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Palo Alto Networks Inc. operating income (loss) decreased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Income (loss) before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Palo Alto Networks Inc. income (loss) before income taxes decreased from Q4 2023 to Q1 2024 and from Q1 2024 to Q2 2024.
Net income (loss) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Palo Alto Networks Inc. net income (loss) decreased from Q4 2023 to Q1 2024 but then increased from Q1 2024 to Q2 2024 exceeding Q4 2023 level.