Strong Performance Continues, Yet Executives Sell Shares

Palo Alto Networks Inc. (NASDAQ: PANW) today reported fiscal third-quarter 2026 revenue of $3.0 billion, up 31 percent year-over-year. On a GAAP basis, the company recorded a net loss of $177 million, reflecting the recent CyberArk and Kronosphere acquisitions, while non-GAAP net income totaled $684 million. Adjusted free cash flow was $910 million. Next-generation security annual recurring revenue (ARR) and remaining performance obligations both saw substantial year-over-year growth. Alongside these results, Palo Alto Networks provided fourth-quarter and full-year 2026 guidance, reiterating its use of non-GAAP metrics and cautioning investors about potential volatility in future performance.

On June 23, Chief Financial Officer Dipak Golecha sold 5,000 shares of company stock under a prearranged 10b5-1 trading plan at prices ranging from $285 to $292 per share, realizing approximately $1.45 million in proceeds; he continues to hold 145,250 shares. Earlier, on June 12, James Jay Goetz sold 19,000 shares through a family trust at prices between $278 and $282 per share, netting around $5.3 million. Although the trust’s holdings declined, Mr. Goetz still personally retains 314,580 shares.

On June 24, Palo Alto Networks announced an expansion of “Project Lightwell,” in collaboration with IBM and Red Hat. The initiative will accelerate the discovery and defense of vulnerabilities in open-source and commercial software, as well as in operational technology and healthcare systems, broadening the company’s footprint in software supply-chain security. Last month, Palo Alto Networks completed the acquisition of AI gateway provider Portkey, reinforcing its integrated AI-powered security and observability platform strategy.

Headquartered in Santa Clara, California, Palo Alto Networks is a leading global cybersecurity company offering a subscription-based platform that spans network and cloud security, security operations, and identity security. As demand for AI-driven security solutions grows, the industry is witnessing a wave of mergers and acquisitions in adjacent areas such as identity security and observability, reshaping the enterprise security market around large, unified platforms.