Palo Alto Networks
PANWQ3 2024(PANW Q4 FY2024)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$3.6B
AI Revenue (Q)
$107.0M
Total Revenue (Q)
$2.1B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 FY2024 (3 months ended July 31, 2024) revenue was $2,189.5M (derived: FY2024 total $8,027.5M minus 9-month $5,838.0M). FY2024 10-K substantially expands AI product descriptions: AI Runtime Security, AI Access Security, Strata Copilot, XSIAM as 'AI-driven security operations platform.' The platformization strategy explicitly leverages AI as a differentiator. New product areas: AI for securing GenAI ecosystems through Prisma Cloud. IBM QRadar assets acquisition (announced Q1 FY2025) will add to AI-powered SIEM capabilities. Subscription revenue for full year FY2024 was $4,188.5M (up 25.6% from $3,335.4M). XSIAM completing its second full year with material customer base. Increasing to 5%. Math: $2,189.5M x 5% = ~$109M.
Analyzed by claude-opus-4-6
Quoted Figures
FY2024 total revenue $8,027.5M (Product $1,603.3M, Subscription $4,188.5M, Support $2,235.7M)
10-K FY2024, Note 2 Revenue
Security Operations: We deliver the next generation of security operations capabilities... These include Cortex XSIAM, our AI-driven security operations platform
10-K FY2024, Item 1 Business
AI Access Security... AI Runtime Security
10-K FY2024, Item 1 Business
AI Products Identified (Ring 1)
Cortex XSIAMAI 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 (GenAI security features)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix