Deferred Revenue
Palo Alto Networks, Inc. Deferred Revenue increased by 146.0% to $15.50B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 23.0%, from $12.60B to $15.50B. Over 2 years (FY 2023 to FY 2025), Deferred Revenue shows an upward trend with a 21.1% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong sales of subscription-based services or bundled offerings, providing a predictable pipeline for future revenue recognition.
Detailed definition
Represents cash payments received from customers in advance of the company fulfilling its performance obligations, speci...
Peer comparison
High-growth software and services companies typically maintain larger deferred revenue balances relative to pure hardware manufacturers.
deferred_revenue_currentHistorical Data
| Q3 '21 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.74B | $3.64B | $8.30B | $8.80B | $9.20B | $4.67B | $10.40B | $10.80B | $11.30B | $5.54B | $12.60B | $13.00B | $13.50B | $6.30B | $15.50B |
| QoQ Change | — | +32.8% | +127.9% | +6.0% | +4.5% | -49.2% | +122.5% | +3.8% | +4.6% | -51.0% | +127.4% | +3.2% | +3.8% | -53.3% | +146.0% |
| YoY Change | — | +32.8% | — | — | — | +28.4% | +25.3% | +22.7% | +22.8% | +18.5% | +21.2% | +20.4% | +19.5% | +13.7% | +23.0% |
Deferred Revenue at Other Companies
Frequently Asked Questions
- What is Palo Alto Networks, Inc.'s deferred revenue?
- Palo Alto Networks, Inc. (PANW) reported deferred revenue of $15.50B in Q4 2025.
- How has Palo Alto Networks, Inc.'s deferred revenue changed year-over-year?
- Palo Alto Networks, Inc.'s deferred revenue increased by 23.0% year-over-year, from $12.60B to $15.50B.
- What is the long-term trend for Palo Alto Networks, Inc.'s deferred revenue?
- Over 2 years (2023 to 2025), Palo Alto Networks, Inc.'s deferred revenue has grown at a 21.1% compound annual growth rate (CAGR), from $9.20B to $13.50B.
- What does deferred revenue mean?
- Money collected from customers for products or services that haven't been delivered yet but will be within a year.