PANW Q1 2025 Earnings — Income Statement Breakdown
For its Q1 2025 period (ending 2024-10-31), PANW reported revenue of $2.1B, gross profit of $1.6B (74.1% gross margin), operating income of $287M, and net income of $351M (16.4% net margin). The flow of revenue into costs and profit is visualized below.
What changed
PANW was profitable; revenue grew 13.9% year over year.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +13.9% | +80.6% | +6.1 pp |
| Quarter over quarter | −2.3% | −2.0% | +0.1 pp |
Consensus estimate data is not available for this report.
PANW Q1 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $2.1B | 100% |
| Cost of Revenue | −$554M | 25.9% |
| Gross Profit | $1.6B | 74.1% |
| Research & Development | −$480M | 22.5% |
| Selling, General & Administrative | −$818M | 38.2% |
| Operating Income | $287M | 13.4% |
| Interest Expense | −$1M | 0.1% |
| Other Income, net | $83M | 3.9% |
| Income Tax Expense | −$18M | 0.8% |
| Net Income | $351M | 16.4% |
Source: original SEC filing (filed 2024-11-20). Accession 0001327567-24-000036. Data normalized by EarningsFyi.