Palo Alto Networks
PANWQ3 2022(PANW Q4 FY2022)Estimated2% AI
AI Revenue %
2%
AI Fair Value
$1.1B
AI Revenue (Q)
$31.3M
Total Revenue (Q)
$1.6B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
PANW operates as a single reportable segment with no AI-specific revenue disclosure. FY2022 annual revenue was $5,501.5M (Product $1,363.1M + Subscription/Support $4,138.4M). AI capabilities at this time included ML-Powered Next-Generation Firewalls (ML embedded in core firewall, not incremental AI value), Cortex XDR (extended detection and response with ML-based analytics), and early Cortex XSIAM introduction. AIOps existed as a cloud-delivered add-on service. The bulk of revenue is traditional network security (firewalls, SASE, VPN) and endpoint protection that predates modern AI. Cortex XDR used machine learning but evolved from traditional endpoint protection. Estimating ~2% for incremental AI value from ML analytics in Cortex XDR and AIOps add-on services. Math: $5,501.5M x 2% = ~$110M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $5,501.5M for fiscal year ended July 31, 2022 (Product $1,363.1M, Subscription and support $4,138.4M)
10-K FY2022, Condensed Consolidated Statements of Operations
We have one business activity and there are no segment managers who are held accountable for operations, operating results, and plans for levels, components, or types of products or services below the consolidated unit level. Accordingly, we are considered to be in a single reportable segment
10-K FY2022, Note: Segment Information
Our cybersecurity platforms and services help secure enterprise users, networks, clouds, and endpoints by delivering comprehensive cybersecurity backed by industry leading artificial intelligence and automation
10-K FY2022, Item 1 Business
AI Products Identified (Ring 1)
Cortex XDR (ML-based threat detection)AIOps (AI for IT Operations add-on)
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 PreventionAdvanced WildFire
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix