Palo Alto Networks

About Palo Alto Networks

Financials

Dated, source-cited figures. Estimates are marked.

Products by Palo Alto Networks

All products by Palo Alto Networks reviewed by our AI panel of experts.

Palo Alto NetworksAI Security

Enterprise cybersecurity platform with next-generation firewall and cloud security solutions

Pricing on request8.2/10

How Our Review Panel Scores Palo Alto Networks

Six independent reviewer personalities assessed Palo Alto Networks's product on their own terms. They landed within 0.8 points of each other, an unusually strong consensus.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Palo Alto Networks competes with, and how they differ.

Wiz8.3/10

Cloud-native application protection platform (CNAPP) built for multi-cloud environments, competing directly with Palo Alto's Prisma Cloud/AI security offerings but with an agentless-first scanning approach and cloud-only focus versus Palo Alto's broader network-plus-cloud portfolio.

1 product reviewed on TopReviewed

CrowdStrike8.3/10

Endpoint and cloud workload protection vendor built on a lightweight agent and cloud-native Falcon platform, overlapping with Palo Alto's Cortex XDR and AI security products but historically weaker in network firewall hardware.

1 product reviewed on TopReviewed

SentinelOne8.1/10

AI-driven endpoint detection and response (EDR/XDR) vendor targeting mid-market and enterprise customers, competing with Palo Alto's Cortex XDR with a more autonomous, agent-based remediation model and simpler licensing tiers.

1 product reviewed on TopReviewed

Darktrace7.8/10

UK-based AI security vendor using unsupervised machine learning for anomaly detection across network and cloud traffic, overlapping with Palo Alto's threat intelligence and AI security products but positioned as a self-learning 'immune system' rather than signature/policy-based network security.

1 product reviewed on TopReviewed

Vectra AI7.9/10

Network detection and response (NDR) specialist using AI to detect attacker behavior in hybrid cloud and on-prem networks, a narrower but direct overlap with Palo Alto's network security and threat detection capabilities.

1 product reviewed on TopReviewed

F

Fortinet

Network security vendor selling integrated firewall appliances and SD-WAN under the FortiGate/Security Fabric architecture, competing head-to-head with Palo Alto's core next-gen firewall business at a generally lower price point.

Company Timeline

Key milestones in Palo Alto Networks's history, with sources.

1. Aug 6, 2026Milestone

   China opens cybersecurity review of its products

   China's Cyberspace Administration (CAC) announced a formal security review of Palo Alto Networks products sold in China, citing critical-infrastructure and national-security laws; the company said there was "no impact" to its ability to serve customers in the region. No outcome/resolution has been reported as of this writing.

   esecurityplanet.com
2. Feb 11, 2026Acquisition

   Completed acquisition of CyberArk for ~$25 billion

   Closed the CyberArk acquisition after 99.8% shareholder approval (Nov 13, 2025) and required US/EU/UK/Israel clearances; paid $2.3 billion cash plus 112 million shares. Identity security became a core platform pillar; Palo Alto Networks also planned a secondary Tel Aviv Stock Exchange listing under "CYBR."

   paloaltonetworks.com
3. Jan 29, 2026Acquisition

   Completed acquisition of Chronosphere for $3.35 billion

   Closed its acquisition of observability platform Chronosphere (announced November 19, 2025) for total consideration of $3.35 billion in cash and replacement equity, aimed at pairing telemetry with the Cortex AgentiX AI-agent platform.

   paloaltonetworks.com
4. Aug 20, 2025Milestone

   Securities class action permanently dismissed

   The consolidated Schlaegel/Schwarz securities-fraud class action (N.D. Cal., filed Feb-Mar 2024 over an Aug 2023-Feb 2024 stock-drop period tied to platformization/billings claims) was dismissed with prejudice by Judge Charles Breyer on Aug 20, 2025, after an earlier April 2025 dismissal with leave to amend failed to cure the pleading; the court found no adequately pled misrepresentation or fraudulent intent.

   news.bloomberglaw.com
5. Jul 30, 2025Acquisition

   Agreed to acquire CyberArk for ~$25 billion

   Entered a definitive agreement to acquire identity-security leader CyberArk (NASDAQ: CYBR); CyberArk holders to receive $45.00 cash plus 2.2005 PANW shares per share, an equity value of roughly $25 billion — Palo Alto Networks' largest acquisition to date.

   paloaltonetworks.com
6. Jul 22, 2025Acquisition

   Completed acquisition of Protect AI

   Closed its acquisition of Protect AI (announced April 28, 2025), an AI/ML application-security company, to accelerate the Prisma AIRS platform. Protect AI's assets included the open-source Rebuff prompt-injection-detection project, which it had acquired in 2023 and continued to maintain — Rebuff's own history belongs to Protect AI, not to this row.

   paloaltonetworks.com
7. Oct 25, 2021Milestone

   Transferred stock listing from NYSE to Nasdaq

   Moved its listing from the New York Stock Exchange to the Nasdaq Global Select Market, retaining the ticker "PANW."

   paloaltonetworks.com
8. Nov 11, 2020Acquisition

   Announced acquisition of Expanse for ~$800 million

   Agreed to acquire attack-surface-management firm Expanse for approximately $670 million in cash and stock plus $130 million in replacement equity awards (~$800M total), to feed Cortex with an outside-in view of customers' attack surfaces.

   paloaltonetworks.com
9. May 29, 2019Acquisition

   Acquired Twistlock ($410M) and PureSec (undisclosed)

   Announced acquisitions of container-security leader Twistlock for $410 million and serverless-security firm PureSec (price undisclosed) to build out the Prisma Cloud portfolio.

   sdxcentral.com
10. Mar 28, 2019Acquisition

    Acquired Demisto for ~$560 million

    Completed acquisition of Demisto, a security orchestration, automation and response (SOAR) vendor; SEC filings put final purchase consideration at $474.2M ($250M cash, $214.7M stock, $9.5M replacement awards). Became the foundation of Cortex XSOAR.

    paloaltonetworks.com
11. Jul 20, 2012Milestone

    IPO on the New York Stock Exchange

    Priced its IPO at $42.00/share and began trading on the NYSE under "PANW," raising roughly $260 million (~$215.4M net proceeds after underwriting costs).

    prnewswire.com
12. 2005Founded

    Founded by Nir Zuk and Rajiv Batra

    Nir Zuk (former Check Point/NetScreen CTO) and Rajiv Batra co-founded Palo Alto Networks in 2005; Sequoia and Greylock funded the company in January 2006. The SEC S-1 confirms the company "was incorporated in 2005 as Palo Alto Networks, Inc., a Delaware corporation" without a specific day.

    articles.sequoiacap.com