Palo Alto Networks
PANWQ2 2025(PANW Q3 FY2025)Estimated6.5% AI
AI Revenue %
6.5%
AI Fair Value
$5.1B
AI Revenue (Q)
$379.5M
Total Revenue (Q)
$5.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2025 (3 months ended April 30, 2025) revenue was $2,289.0M (Product $452.7M, Subscription $1,234.4M, Support $601.9M). Product revenue up 15.8% YoY ($452.7M vs $391.0M). Subscription revenue grew 18.0% YoY. QRadar fully integrated. Contingent consideration liability growing ($669.2M) indicating QRadar customer migrations are progressing. The FY2025 10-K (filed later) shows Prisma AIRS launch and Cortex Cloud combining cloud security + security operations. Increasing to 6.5%. Math: $2,289.0M x 6.5% = ~$149M.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $2,289.0M (Product $452.7M, Subscription $1,234.4M, Support $601.9M)
10-Q Q3 FY2025, Note 2 Revenue
Contingent consideration liability at the end of the period $669.2M
10-Q Q3 FY2025, Note 3 Fair Value Measurements
AI Products Identified (Ring 1)
Cortex XSIAMCortex CloudPrisma AIRS (launching)AI Access SecurityAI Runtime 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 FirewallsPrisma Cloud
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix