Palo Alto Networks
PANWQ1 2024(PANW Q2 FY2024)Estimated4% AI
AI Revenue %
4%
AI Fair Value
$2.4B
AI Revenue (Q)
$79.4M
Total Revenue (Q)
$2.0B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 FY2024 (3 months ended January 31, 2024) revenue was $1,975.1M (Product $390.7M, Subscription $1,027.1M, Support $557.3M). This filing first provides the Subscription vs Support breakout. Subscription revenue $1,027.1M grew 26% YoY (vs $815.4M). The 10-Q now references 'AI Access Security' as a cloud-delivered security service and 'Strata Copilot' (natural language interface) as new AI capabilities. XSIAM gaining significant traction. Increasing to 4% to reflect AI Access Security launch and XSIAM growth. Math: $1,975.1M x 4% = ~$79M.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $1,975.1M (Product $390.7M, Subscription $1,027.1M, Support $557.3M)
10-Q Q2 FY2024, Note 2 Revenue
Subscription revenue $1,027.1M for Q2 FY2024 vs $815.4M for Q2 FY2023
10-Q Q2 FY2024, Note 2 Revenue
AI Products Identified (Ring 1)
Cortex XSIAMAI Access SecurityStrata CopilotAIOps
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
ML-Powered Next-Generation FirewallsAdvanced Threat Prevention
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix