Palo Alto Networks
PANWQ2 2023(PANW Q3 FY2023)Estimated2.5% AI
AI Revenue %
2.5%
AI Fair Value
$1.4B
AI Revenue (Q)
$43.0M
Total Revenue (Q)
$1.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2023 (3 months ended April 30, 2023) revenue was $1,720.9M (Product $388.1M, Subscription/Support $1,332.8M). No AI revenue disclosure. XSIAM gaining traction but still small relative to total revenue. Business description in 10-K FY2023 adds more AI language (AIOps, ML-Powered NGFWs) but these are feature enhancements to existing products, not standalone AI revenue streams. Maintaining 2.5%. Math: $1,720.9M x 2.5% = ~$43M.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $1,720.9M for three months ended April 30, 2023 (Product $388.1M, Subscription and support $1,332.8M)
10-Q Q3 FY2023, Condensed Consolidated Statements of Operations
AI Products Identified (Ring 1)
Cortex XSIAMCortex XDRAIOps
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