Next-Generation Security ARR
Annual recurring revenue from the platform products reached $9.10 billion at the end of fiscal Q4 2026, up 63%. Part of that growth came from acquisitions.
The numbers
What it is
Next-Generation Security ARR is the company's headline recurring-revenue measure. It covers the subscriptions for the firewall, SASE, security operations, cloud, AI and identity products that customers buy as platforms.
Why it matters to the stock. It is the number management guides on each quarter and the basis for the $20 billion fiscal 2030 target. Investors read its growth rate as the main test of whether the platform strategy is working.
News
Palo Alto Networks shares fall about 8% despite 34% revenue growth
Palo Alto Networks shares fell in the session after the September 1 report, even though revenue beat the roughly $3.35 billion consensus.
Palo Alto Networks guides fiscal 2027 revenue to $14.10B-$14.20B
In the same September 1 release, Palo Alto Networks guided fiscal 2027 revenue to $14.10 billion to $14.20 billion and Next-Generation Security ARR to $11.075 billion to $11.175 billion, which is 22% to 23% growth.
Palo Alto Networks Q3 FY2026: revenue up 31%, FY26 EPS guidance raised
Palo Alto Networks reported fiscal third-quarter 2026 revenue of $3.00 billion, up 31%, including $388 million from CyberArk and Chronosphere.
Palo Alto Networks Q2 FY2026: revenue up 15%, FY26 EPS guidance cut
Palo Alto Networks reported fiscal second-quarter 2026 revenue of $2.59 billion, up 15%, and Next-Generation Security ARR of $6.3 billion, up 33%.