FY2026 revenue was $11.48B, up 24% YoY; NGS ARR reached $9.10B, up 63%, and RPO was $21.2B, up 34%.
Completed CyberArk and Chronosphere acquisitions, adding identity security and observability to the platform strategy; the long-term target remains >4,000 platformizations and $20B NGS ARR by FY2030.
Shareholders will vote at the virtual December 8, 2026 annual meeting on six proposals; the Board recommends FOR five and AGAINST the employee-ownership study proposal.
Proposal 1 seeks election of Nikesh Arora, Aparna Bawa, Carl Eschenbach and Lorraine Twohill as Class III directors for terms through the 2029 annual meeting; the Board recommends FOR each nominee.
Proposal 2 seeks ratification of Ernst & Young LLP for FY ending July 31, 2027; Proposal 3 is advisory say-on-pay; the Board recommends FOR both.
Proposal 4 asks approval to add 15M shares to the 2021 Equity Incentive Plan; the Board says the increase is expected to cover one to two years of grants and recommends FOR.
Proposal 5 seeks annual advisory votes on continued service of directors not otherwise up for election, except in contested elections; if approved, implementation is intended for the 2027 annual meeting.
Proposal 6 asks for a study of a potential broad-based employee-ownership transaction; the Board recommends AGAINST, citing existing equity programs, dilution, cost, litigation risk and management time.
The 10-member Board was 80% independent as of July 31, 2026; average tenure was eight years overall and nine years for independent directors.
In August 2026, the Board retained combined Chair and CEO leadership for Nikesh Arora, alongside Lead Independent Director John M. Donovan and independent committee oversight.
The Security Committee, chaired by Chief Product and Technology Officer Lee Klarich, oversees cybersecurity, data protection, incident response, resilience and security compliance; it met four times in FY2026.
Board and committee self-assessments occur annually; the Board also reviews strategy annually, approves the operating plan and discusses critical business matters with senior management at least quarterly.
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Palo Alto Networks, headquartered in Santa Clara, California, specializes in cybersecurity solutions and services. The company was founded in 2005 and is mainly known for its advanced firewalls and cloud-native security offerings. They provide enterprises with tools to safeguard their digital networks, detect potential threats, and counteract cyberattacks in real-time. Their approach combines hardware and software solutions to form defense mechanisms against various types of cyber threats. Serving a broad clientele, Palo Alto Networks has become a name and company synonymous with robust network security.
Established in 2005 by Israeli-American entrepreneur Nir Zuk who had previously worked in the industry with companies Check Point and NetScreen Technologies. Zuk recognized a pressing need in the industry: traditional firewalls, which operated primarily on simple rules such as port numbers and protocols, were becoming insufficient for the threats of the time. To address this, he envisioned a more sophisticated firewall that could intelligently understand and control application traffic. By 2007, Palo Alto Networks had introduced its first enterprise firewall to the market, heralding a new era of advanced network security. The company quickly grew both organically and through various acquisitions, attracting top-shelf tech talent while doing so. Today, Palo Alto Networks is a trusted partner for tens of thousands of companies and institutions.
At the heart of Palo Alto’s offerings is the next-generation firewall, designed to inspect and control applications using advanced traffic analysis. This technology goes beyond mere port and protocol identification, diving deeper into the application layer for accurate threat detection. This is something that has become critical for companies of all sizes as cyber threats continue to grow in both complexity and intensity.
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