0001327567-26-000015 | 10-Q | XBRL Viewer

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Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), consistent in all material respects with those applied in our Annual Report on Form 10-K for the fiscal year ended July 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on August 29, 2025. The condensed consolidated financial statements include our accounts and our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. Our condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2025.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and the accompanying notes. We evaluate our estimates on an ongoing basis. Management estimates include, but are not limited to, the standalone selling price for our products and services, share-based compensation, fair value of assets acquired and liabilities assumed in business combinations, fair value of contingent consideration liability, fair value of convertible senior notes and capped calls, the assessment of recoverability of our intangibles and goodwill, valuation allowance against deferred tax assets, valuation of inventory and manufacturing partner and supplier liabilities, deferred contract cost benefit period, and loss contingencies. We base our estimates on assumptions, both historical and forward looking, that we believe are reasonable. Actual results could differ materially from those estimates due to risks and uncertainties.
Convertible Senior Notes and Capped Calls	Convertible Senior Notes and Capped Calls In connection with the CyberArk acquisition, we acquired CyberArk’s convertible senior notes and assumed certain capped call transactions CyberArk had previously entered into relating to the issuance of these convertible senior notes. The capped calls are expected to reduce the potential dilution to our common stock upon conversion of the convertible senior notes and/or offset our cash payments in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap. For convertible senior notes acquired from CyberArk, we have elected fair value option to simplify the accounting for embedded features that would otherwise require bifurcation from the debt-host and recognition as a separate derivative liability. These convertible senior notes are measured at fair value on a recurring basis through maturity or settlement. Changes in fair value included in earnings are recorded in other income, net on our condensed consolidated statements of operations, and changes in fair value attributable to instrument-specific credit risk are included in accumulated other comprehensive income (loss) (“AOCI”) in stockholders’ equity. We account for capped calls as derivative assets, measured at fair value on a recurring basis through maturity or settlement. Capped calls are recorded in other assets on our condensed consolidated balance sheets. Changes in fair value are recorded in other income, net on our condensed consolidated statements of operations.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Income Tax Disclosures In December 2023, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance that requires consistent categories and greater disaggregation of information in the effective tax rate reconciliation and additional disclosures of income taxes paid by jurisdiction. The standard is effective for our annual periods beginning in fiscal 2026 and could be applied either prospectively or retrospectively. We expect the adoption of this standard will result in disclosure of additional jurisdictional level tax information in our consolidated financial statements. Expense Disaggregation Disclosures In November 2024, the FASB issued authoritative guidance that expands annual and interim disclosure of specified information about certain costs and expenses in the notes to financial statements. The standard is effective for our annual periods beginning in fiscal 2028 and interim periods beginning in the first quarter of fiscal 2029, and can be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements. Measurement of Credit Losses for Accounts Receivable and Contract Assets In July 2025, the FASB issued authoritative guidance that provides a practical expedient for estimating expected credit losses on accounts receivable and contract assets. The standard is effective for our annual and interim periods beginning in the first quarter of fiscal 2027 and will be applied on a prospective basis. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements. Accounting for Internal-Use Software In September 2025, the FASB issued authoritative guidance that modernizes the accounting for internal-use software by eliminating project stage-based capitalization and clarifying the requirements, including probable-to-complete threshold, to commence the capitalization of software development costs. The standard is effective for our annual and interim periods beginning in the first quarter of fiscal 2029 and could be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements. Hedge Accounting Improvements In November 2025, the FASB issued authoritative guidance that clarifies and improves the existing hedge accounting guidance to better reflect the economics of an entity’s risk management activities. The standard is effective for our annual and interim periods beginning in the first quarter of fiscal 2028 and will be applied on a prospective basis. Early adoption is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

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+ Details

Goodwill, Intangible Assets and Other Long-Lived Assets (Goodwill) (Details) $ in Millions	9 Months Ended
	Apr. 30, 2026 USD ($)
Goodwill Rollforward
Balance as of July 31, 2025	$ 4,567
Goodwill acquired	17,335
Balance as of April 30, 2026	$ 21,902

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Other Income, Net (Tables)

9 Months Ended

Apr. 30, 2026

Other Income and Expenses [Abstract]

Schedule of Components of Other Income, Net

The following table sets forth the components of other income, net (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Interest income	$	71	$	93	$	285	$	266
Foreign currency exchange gains (losses), net	(14)		(8)		(41)		(14)
Change in fair value of convertible senior notes	(37)		—		(37)		—
Change in fair value of capped calls	(1)		—		(1)		—
Other, net	8		8		76		9
Total other income, net	$	27	$	93	$	282	$	261

Debt (Revolving Credit Facility) (Details) - Revolving credit facility - USD ($)	Apr. 13, 2023	Apr. 30, 2026
Line of Credit Facility
Maximum borrowing provided	$ 400,000,000
Option for additional borrowing capacity	$ 350,000,000
Revolving credit facility amount outstanding		$ 0
Minimum
Line of Credit Facility
Commitment fee rate on undrawn amounts (in percentage)	0.09%
Minimum \| Base Rate
Line of Credit Facility
Spread on variable rate	0.00%
Minimum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility
Spread on variable rate	1.00%
Maximum
Line of Credit Facility
Commitment fee rate on undrawn amounts (in percentage)	0.15%
Maximum \| Base Rate
Line of Credit Facility
Spread on variable rate	0.375%
Maximum \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility
Spread on variable rate	1.375%

Equity Award Plans (RSU, PSU and PSO Activities) (Narrative) (Details) shares in Millions	9 Months Ended
	Apr. 30, 2026 shares
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	3
Approved for future grant (in shares)	3
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Service period	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Service period	3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	14
RSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Granted (in shares)	4
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	1 year
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	4 years
PSOs \| Maximum \| Fiscal Year 2018
Share-based Compensation Arrangement by Share-based Payment Award
Service period	7 years 6 months
PSOs \| Maximum \| Fiscal Year 2019
Share-based Compensation Arrangement by Share-based Payment Award
Service period	7 years 6 months

Goodwill, Intangible Assets and Other Long-Lived Assets

9 Months Ended

Apr. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets and Other Long-Lived Assets

Goodwill

The following table presents details of our goodwill during the nine months ended April 30, 2026 (in millions):


	Amount
Balance as of July 31, 2025	$	4,567
Goodwill acquired	17,335

Balance as of April 30, 2026	$	21,902

Purchased Intangible Assets

The following table presents details of our purchased intangible assets as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026						July 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Developed technology	$	3,387	$	(458)	$	2,929	$	536	$	(274)	$	262
Customer relationships and platform renewals	4,364		(240)		4,124		609		(123)		486
Customer contracts	219		(27)		192		—		—		—
Acquired intellectual property	24		(11)		13		24		(9)		15
Trade name and trademarks	33		(8)		25		—		—		—
Other	—		—		—		1		(1)		—



Total purchased intangible assets	$	8,027	$	(744)	$	7,283	$	1,170	$	(407)	$	763

The following table summarizes amortization expense of our intangible assets included in costs and expenses (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Cost of product revenue	$	37	$	—	$	37	$	—
Cost of subscription and support revenue	146		29		197		88

Sales and marketing	97		14		125		41

Total intangible assets amortization	$	280	$	43	$	359	$	129

The following table summarizes estimated future amortization expense of our intangible assets subject to amortization as of April 30, 2026 (in millions):


			Fiscal years ending July 31,
	Total		Remaining 2026		2027		2028		2029		2030		2031 and Thereafter
Future amortization expense	$	7,283	$	281	$	1,078	$	986	$	906	$	889	$	3,143

Other Long-lived assets

During the nine months ended April 30, 2026, we purchased 14.5 acres of land adjacent to our headquarters in Santa Clara, California, for $91 million to accommodate future expansion of our headquarters. This amount was recorded in property and equipment, net on our condensed consolidated balance sheet as of April 30, 2026.

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Apr. 30, 2026
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Share Repurchase Program In February 2019, our board of directors authorized a $1.0 billion share repurchase program, which is funded from available working capital. Our board of directors subsequently authorized additional increases to this share repurchase program, bringing the total authorization to $4.1 billion. On March 10, 2026, our board of directors authorized an additional $1.0 billion increase to our share repurchase program, bringing the total authorization under this share repurchase program to $5.1 billion (our “current authorization”). The expiration date of our current authorization was extended to December 31, 2026, and our repurchase program may be suspended or discontinued at any time. Repurchases may be made at management’s discretion from time to time on the open market, through privately negotiated transactions, transactions structured through investment banking institutions, block purchase techniques, 10b5-1 trading plans, or a combination of the foregoing. During the three and nine months ended April 30, 2026, we repurchased and retired 7 million shares of our common stock under our current repurchase authorization for an aggregate purchase price of $1.0 billion, including transaction costs, at an average price of $147.70 per share. The total price of the shares repurchased and related transaction costs are reflected as a reduction to common stock and additional paid-in capital on our condensed consolidated balance sheets. We did not repurchase shares of our common stock during the three and nine months ended April 30, 2025. As of April 30, 2026, $1.0 billion remained available for future share repurchases under our current repurchase authorization.

- Definition

The entire disclosure for equity.

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+ Details

Fair Value Measurements (Tables)

9 Months Ended

Apr. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026								July 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	944	$	—	$	—	$	944	$	1,206	$	—	$	—	$	1,206

Commercial paper	—		535		—		535		—		169		—		169
Corporate debt securities	—		2		—		2		—		—		—		—
U.S. government and agency securities	—		75		—		75		—		—		—		—

Total cash equivalents	944		612		—		1,556		1,206		169		—		1,375
Short-term investments:
Certificates of deposit	—		—		—		—		—		—		—		—
Commercial paper	—		10		—		10		—		15		—		15
Corporate debt securities	—		413		—		413		—		584		—		584
U.S. government and agency securities	—		27		—		27		—		6		—		6
Non-U.S. government and agency securities	—		—		—		—		—		3		—		3
Asset-backed securities	—		13		—		13		—		22		—		22
Total short-term investments	—		463		—		463		—		630		—		630


	April 30, 2026								July 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Long-term investments:

Corporate debt securities	—		3,118		—		3,118		—		4,050		—		4,050
U.S. government and agency securities	—		39		—		39		—		164		—		164
Non-U.S. government and agency securities	—		—		—		—		—		26		—		26
Asset-backed securities	—		724		—		724		—		1,315		—		1,315
Total long-term investments	—		3,881		—		3,881		—		5,555		—		5,555
Prepaid expenses and other current assets:
Foreign currency forward contracts	—		64		—		64		—		58		—		58
Total prepaid expenses and other current assets	—		64		—		64		—		58		—		58
Other assets:
Foreign currency forward contracts	—		1		—		1		—		3		—		3
Capped calls related to convertible senior notes	—		94		—		94		—		—		—		—
Total other assets	—		95		—		95		—		3		—		3
Total assets measured at fair value	$	944	$	5,115	$	—	$	6,059	$	1,206	$	6,415	$	—	$	7,621

Short-term convertible senior notes	$	—	$	160	$	—	$	160	$	—	$	—	$	—	$	—
Accrued and other liabilities:
Foreign currency forward contracts	—		5		—		5		—		4		—		4
Contingent consideration	—		—		124		124		—		—		276		276
Total accrued and other liabilities	—		5		124		129		—		4		276		280
Long-term convertible senior notes	—		1,192		—		1,192		—		—		—		—
Other long-term liabilities:
Foreign currency forward contracts	—		1		—		1		—		—		—		—
Contingent consideration	—		—		116		116		—		—		238		238
Total other long-term liabilities	—		1		116		117		—		—		238		238
Total liabilities measured at fair value	$	—	$	1,358	$	240	$	1,598	$	—	$	4	$	514	$	518

Schedule of Reconciliation Beginning and Ending Amount of Contingent Consideration Liabilities

The following table presents a reconciliation of our contingent consideration liability (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Contingent consideration liability at the beginning of the period	$	369	$	665	$	514	$	—
Initial valuation on the acquisition date	—		—		—		649
Change in fair value	(110)		4		(120)		20
Payments	(19)		—		(154)		—
Contingent consideration liability at the end of the period	$	240	$	669	$	240	$	669

Debt (2030 Convertible Senior Notes and Capped Calls Transactions) (Details)				1 Months Ended	3 Months Ended		9 Months Ended
	May 07, 2026 USD ($)	Apr. 30, 2026 USD ($) day	Feb. 11, 2026 USD ($) day $ / shares shares	Apr. 30, 2026 USD ($)	Apr. 30, 2026 USD ($)	Apr. 30, 2025 USD ($)	Apr. 30, 2026 USD ($)	Apr. 30, 2025 USD ($)	Jul. 31, 2025 USD ($)
Debt Instrument, Redemption
Short-term convertible senior notes		$ 160,000,000		$ 160,000,000	$ 160,000,000		$ 160,000,000		$ 0
Long-term convertible senior notes		1,192,000,000		1,192,000,000	1,192,000,000		1,192,000,000		0
Change in fair value of convertible senior notes						$ 0	37,000,000	$ 0
Derivative asset		94,000,000		94,000,000	94,000,000		94,000,000		$ 0
Change in fair value of capped calls					(1,000,000)	$ 0	(1,000,000)	$ 0
Convertible Debt
Debt Instrument, Redemption
Debt instrument, convertible, value in excess of principal				10,000,000
2030 Notes \| Convertible Debt
Debt Instrument, Redemption
Aggregate principal amount		$ 1,100,000,000	$ 1,250,000,000	1,100,000,000	1,100,000,000		1,100,000,000
Contractual interest rate (in percentage)			0.00%
Conversion of stock, shares issued (in shares) \| shares			4.3161
Debt conversion, converted instrument, issued (in shares) \| shares			5,400,000
Debt instrument, convertible, conversion price (in usd per share) \| $ / shares			$ 280.75
Debt conversion, converted instrument, amount			$ 110,000,000
Debt instrument, convertible, threshold (in days) \| day			20
Debt instrument, convertible, threshold consecutive (in days) \| day		30	30
Redemption price, (in percentage)			100.00%
Redemption price, percentage of principal amount redeemed (in percentage)			100.00%
Short-term convertible senior notes		$ 160,000,000		160,000,000	160,000,000		160,000,000
Long-term convertible senior notes		1,200,000,000		1,200,000,000	1,200,000,000		1,200,000,000
Change in fair value of convertible senior notes					(37,000,000)		(37,000,000)
Changes in fair value attributable to instrument specific credit risk					(12,000,000)		(12,000,000)
Derivative asset		$ 94,000,000		$ 94,000,000	94,000,000		94,000,000
Change in fair value of capped calls					$ (1,000,000)		$ (1,000,000)
2030 Notes \| Convertible Debt \| Minimum
Debt Instrument, Redemption
Debt instrument, convertible, conversion price (in usd per share) \| $ / shares			$ 211.24
Debt Instrument, convertible, stock price trigger (in usd per share) \| $ / shares			287.21
2030 Notes \| Convertible Debt \| Maximum
Debt Instrument, Redemption
Debt Instrument, convertible, stock price trigger (in usd per share) \| $ / shares			291.44
2030 Notes \| Convertible Debt \| Subsequent Event
Debt Instrument, Redemption
Debt conversion, converted instrument, amount	$ 160,000,000
Debt surrendered	$ 153,000,000
2030 Notes \| Convertible Debt \| Debt Instrument, Redemption, Period Two
Debt Instrument, Redemption
Debt instrument, convertible, conversion price (in usd per share) \| $ / shares			$ 88.2630
Debt instrument, convertible, threshold (in days) \| day			5
Debt instrument, convertible, threshold consecutive (in days) \| day			10
Debt instrument, convertible, threshold (in percentage)			98.00%
2030 Notes \| Convertible Debt \| Debt Instrument, Redemption, Period One
Debt Instrument, Redemption
Debt instrument, convertible, conversion price (in usd per share) \| $ / shares			$ 280.75
Debt instrument, convertible, threshold (in days) \| day			20
Debt instrument, convertible, threshold consecutive (in days) \| day			30
2030 Notes \| Convertible Debt \| Debt Instrument, Redemption, Period Three
Debt Instrument, Redemption
Conversion of stock, shares issued (in shares) \| shares			5.5690
Conversion of stock amount converted			$ 113.8860

Equity Award Plans (Allocation of Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	$ 684	$ 326	$ 1,355	$ 941
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	206	134	477	411
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	188	92	388	258
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	238	67	372	173
Cost of product revenue \| Cost of subscription and support revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	2	1	4	4
Cost of subscription and support revenue \| Cost of subscription and support revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	$ 50	$ 32	$ 114	$ 95

Financing Receivables

9 Months Ended

Apr. 30, 2026

Receivables [Abstract]

Financing Receivables

The following table summarizes our short-term and long-term financing receivables as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026		July 31, 2025
Short-term financing receivables, gross	$	661	$	806
Unearned income	(65)		(86)
Allowance for credit losses	(5)		(5)
Short-term financing receivables, net	$	591	$	715
Long-term financing receivables, gross	$	834	$	1,079
Unearned income	(47)		(69)
Allowance for credit losses	(8)		(8)
Long-term financing receivables, net	$	779	$	1,002

The following table presents amortized cost basis of our financing receivables categorized by internal risk rating and year of origination (in millions):


Internal Risk Rating(1)	April 30, 2026												July 31, 2025
	Fiscal Year of Origination												Fiscal Year of Origination
	2026		2025		2024		2023		2022		Total		2025		2024		2023		2022		2021		Total
1 to 4	$	95	$	223	$	553	$	126	$	5	$	1,002	$	261	$	732	$	242	$	9	$	18	$	1,262
5 to 6	109		104		120		10		—		343		174		226		50		—		—		450
7 to 10	—		25		9		4		—		38		—		4		14		—		—		18
Amortized cost basis of financing receivables	$	204	$	352	$	682	$	140	$	5	$	1,383	$	435	$	962	$	306	$	9	$	18	$	1,730

(1)Internal risk ratings are categorized as 1 through 10, with the lowest rating representing the highest quality.

There was no significant activity in allowance for credit losses during the three and nine months ended April 30, 2026 and 2025. Past due amounts on financing receivables were not material as of April 30, 2026 and July 31, 2025.

We sold financing receivables of $49 million and $54 million for the three and nine months ended April 30, 2026, respectively, and $28 million and $30 million for the three and nine months ended April 30, 2025, respectively. The associated gains and losses were not material.

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Income Tax Disclosure [Abstract]
Effective income tax rate provision (benefit)	(13.50%)	15.60%	26.80%	12.30%

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (177)	$ 262	$ 589	$ 880
Other comprehensive income, net of tax:
Change in unrealized gains (losses) on investments	(31)	32	(32)	24
Cash flow hedges:
Change in unrealized gains (losses)	3	30	26	21
Net realized (gains) losses reclassified into earnings	(19)	0	(43)	5
Net change on cash flow hedges	(16)	30	(17)	26
Change in fair value of convertible senior notes attributable to instrument-specific credit risk	(12)	0	(12)	0
Other comprehensive income (loss)	(59)	62	(61)	50
Comprehensive income (loss)	$ (236)	$ 324	$ 528	$ 930

Equity Award Plans

9 Months Ended

Apr. 30, 2026

Share-Based Payment Arrangement [Abstract]

Equity Award Plans

Restricted Stock Unit (“RSU”) and Performance-Based Stock Unit (“PSU”) Activities

The following table summarizes the RSU and PSU activity under our stock plans during the nine months ended April 30, 2026 (in millions, except per share amounts):


	Unvested RSUs			Unvested PSUs
	Number of Shares	Weighted-Average Grant-Date Fair Value Per Share		Aggregate Intrinsic Value		Number of Shares	Weighted-Average Grant-Date Fair Value Per Share		Aggregate Intrinsic Value
Balance—July 31, 2025	13	$	143.33	$	2,285	9	$	140.92	$	1,635
Granted(1)(2)	14	$	178.55			4	$	186.49
Vested(3)	(6)	$	140.04			(3)	$	150.47
Forfeited	(2)	$	153.49			(2)	$	142.73
Balance—April 30, 2026	19	$	169.21	$	3,450	8	$	156.51	$	1,461

(1)For PSUs, shares granted represent the aggregate maximum number of shares that may be earned and issued with respect to these awards over their full terms.

(2)Includes 7 million RSUs assumed in connection with the acquisitions of Chronosphere, CyberArk, and Koi, with weighted-average grant-date fair value of $176.20, $165.30, and $161.59 per share, respectively, for the nine months ended April 30, 2026.

(3)Includes time-based vesting for PSUs.

Our RSUs generally vest over a period of four years from the date of grant. Until vested, RSUs do not have the voting and dividend participation rights of common stock and the shares underlying the awards are not considered issued and outstanding.

Our PSUs generally vest over a period of one to four years from the date of grant. The number of PSUs eligible to vest is determined based on the level of achievement against certain performance conditions, market conditions, and a combination thereof.

During the nine months ended April 30, 2026, we granted 3 million shares of PSUs that contain service, performance, and market conditions. The service conditions are satisfied after a period of one to three years. The performance conditions are based on an average of next-generation security annualized recurring revenue and non-GAAP net income per diluted share, subject to certain adjustments. The market condition is measured based on our total shareholder return (“TSR”) relative to the TSR of the companies listed in the Standard & Poor’s 500 index. As of April 30, 2026, we have approved 3 million shares of PSUs, which will be granted upon the performance condition being established during the next two fiscal years.

The fair value of the PSUs subject to market conditions is estimated on the grant date using a Monte Carlo simulation model. The following table summarizes the assumptions used and the resulting grant-date fair value of our PSUs subject to market conditions granted during the nine months ended April 30, 2026 and 2025:



	Nine Months Ended April 30,
		2026		2025
Volatility		36.6% - 42.6%		43.5% - 47.6%
Expected term (in years)		1.0 - 3.0		1.0 - 2.9
Dividend yield		0.0	%	0.0	%
Risk-free interest rate		3.6% - 3.9%		3.7% - 4.5%
Grant-date fair value per share		$226.06 - $261.62		$264.51 - $305.83

Performance Stock Option (“PSO”) Activities

We have granted PSOs with both service and market conditions. The market conditions were achieved when certain stock price targets were met. As of April 30, 2026 and July 31, 2025, all of our outstanding PSOs have been fully vested. The maximum contractual term of our outstanding PSOs is seven and a half years from the date of grant in fiscal year 2018 and 2019.

The following table summarizes the PSO activity under our stock plans during the nine months ended April 30, 2026 (in millions, except per share amounts):



	Number of Shares	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance—July 31, 2025	1	$	32.76	0.5	$	197

Exercised	(1)	$	32.76

Balance—April 30, 2026	—	$	—	0.0	$	—
Exercisable—April 30, 2026	—	$	—	0.0	$	—

Share-Based Compensation

The following table summarizes share-based compensation included in costs and expenses (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Cost of product revenue	$	2	$	1	$	4	$	4
Cost of subscription and support revenue	50		32		114		95
Research and development	206		134		477		411
Sales and marketing	188		92		388		258
General and administrative	238		67		372		173
Total share-based compensation	$	684	$	326	$	1,355	$	941

During the three and nine months ended April 30, 2026, the vesting of certain equity awards was accelerated in connection with our acquisitions of CyberArk and Koi; as a result, we recorded share-based compensation of $177 million, including $1 million in cost of subscription and support revenue, $36 million in sales and marketing expense, and $140 million in general and administrative expense on our condensed consolidated statements of operations.

As of April 30, 2026, total compensation cost related to unvested share-based awards not yet recognized was $3.6 billion. This cost is expected to be amortized over a weighted-average period of approximately 2.6 years.

Revenue (Deferred Revenue) (Details) - USD ($) $ in Billions	9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025
Revenue from Contract with Customer [Abstract]
Revenue recognized from opening deferred revenue balance	$ 4.9	$ 4.4

Revenue (Disaggregation of Revenue - Type of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Revenue:
Total revenue	$ 3,002	$ 2,289	$ 8,070	$ 6,685
Product
Revenue:
Total revenue	594	453	1,542	1,228
Subscription
Revenue:
Total revenue	1,632	1,234	4,400	3,659
Support
Revenue:
Total revenue	776	602	2,128	1,798
Total subscription and support
Revenue:
Total revenue	$ 2,408	$ 1,836	$ 6,528	$ 5,457

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Income, Net

9 Months Ended

Apr. 30, 2026

Other Income and Expenses [Abstract]

Other Income, Net

The following table sets forth the components of other income, net (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Interest income	$	71	$	93	$	285	$	266
Foreign currency exchange gains (losses), net	(14)		(8)		(41)		(14)
Change in fair value of convertible senior notes	(37)		—		(37)		—
Change in fair value of capped calls	(1)		—		(1)		—
Other, net	8		8		76		9
Total other income, net	$	27	$	93	$	282	$	261

Acquisition

9 Months Ended

Apr. 30, 2026

Business Combination [Abstract]

Acquisition

Acquisitions

Chronosphere, Inc.

On January 29, 2026, we completed our acquisition of Chronosphere, Inc. (“Chronosphere”), a privately-held observability technology company. The acquisition resulted in forming our observability platform. The total purchase consideration for the acquisition of Chronosphere was $3.0 billion, which consisted of the following (in millions):


	Amount
Cash	$	2,842
Fair value of replacement awards	109
Total	$	2,951

As part of the acquisition, we issued $525 million of replacement equity awards, of which the portion attributable to services performed prior to the acquisition date was allocated to purchase consideration. The remaining fair value was allocated to future services and will be expensed over the remaining service periods as share-based compensation. The replacement equity awards included 2 million shares of our restricted common stock. These restricted common stock vest over a period of two to three years from the date of issuance.

We have accounted for this transaction as a business combination and allocated the purchase consideration to assets acquired and liabilities assumed based on preliminary estimated fair values, as presented in the following table (in millions):


	Amount
Goodwill	$	2,364
Identified intangible assets	565
Cash	57
Net liabilities assumed	(35)
Total	$	2,951

Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from integrating the Chronosphere observability platform into our business. The goodwill is not deductible for U.S. income tax purposes.

The following table presents details of the identified intangible asset acquired (in millions, except years):


	Fair Value		Estimated Useful Life
Developed technology	$	300	5 years
Customer relationships	255		6 years - 10 years
Trade name and trademarks	10		1 year
Total	$	565

CyberArk Software Ltd.

On February 11, 2026, we completed our acquisition of CyberArk, an identity security company, forming our next-generation identity security platform. CyberArk shareholders received $45.00 in cash and 2.2005 shares of our common stock for each CyberArk share. The total purchase consideration for the acquisition of CyberArk was $21.1 billion, which consisted of the following (in millions):


	Amount
Cash	$	2,308
Common stock (112 million shares)	18,488
Fair value of replacement awards	265
Total	$	21,061

As part of the acquisition, we issued $945 million of replacement equity awards, of which the portion attributable to services performed prior to the acquisition date was allocated to purchase consideration. The remaining fair value was allocated to future services and will be expensed over the remaining service periods as share-based compensation.


	Amount
Goodwill	$	14,802
Identified intangible assets	6,279
Cash and cash equivalents	743
Accounts receivable, net of allowance for credit losses	312
Short-term and long-term investments	1,217
Net assets acquired	61
Convertible senior notes	(1,303)
Deferred revenue	(776)
Deferred tax liabilities	(274)
Total	$	21,061

Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from incorporating the CyberArk next-generation identity security platform into our business. Substantially all of goodwill is deductible for U.S. income tax purposes.

The following table presents details of the identified intangible asset acquired (in millions, except years):


	Fair Value		Estimated Useful Life
Developed technology	$	2,537	5 years - 7 years
Platform renewals	3,500		12 years - 14 years
Customer contracts	219		2 years
Trade name	23		1 year
Total	$	6,279

For the three and nine months ended April 30, 2026, transaction costs related to CyberArk acquisition were $41 million and $56 million, respectively, which were primarily included in general and administrative expense on our condensed consolidated statements of operations.

In connection with our acquisition integration strategy, we initiated a plan to optimize the combined entity’s workforce for a total estimated cost of $59 million. The activities associated with this plan are expected to be substantially completed by the end of fiscal 2027. Employee severance costs are recognized upon notification. If service beyond the minimum retention period is required, expense is recognized ratably over the future service period. During the three and nine months ended April 30, 2026, we made cash payments of $12 million under the plan. As of April 30, 2026, a liability of $12 million related to the employee severance was included in accrued compensation on our condensed consolidated balance sheets.

The following table summarizes employee severance charges related to the CyberArk acquisition (in millions):


	Three and Nine Months Ended April 30, 2026
	Cash Compensation		Share-based Compensation		Total
Cost of subscription and support revenue	$	2	$	—	$	2
Research and development	1		—		1
Sales and marketing	13		16		29
General and administrative	8		1		9
Total	$	24	$	17	$	41

Koi Security Ltd.

On April 14, 2026, we completed our acquisition of Koi Security Ltd. (“Koi”), a privately-held endpoint posture management company. We expect the acquisition to add agentic endpoint security capabilities to our security operations platform and enhance Prisma® AIRS™. The total purchase consideration for the acquisition of Koi was $231 million, substantially all of which is comprised of cash.

As part of the acquisition, we issued $61 million of replacement equity awards, which was allocated to future services and will be expensed over the remaining service periods as share-based compensation. The replacement equity awards included 0.3 million shares of our restricted common stock. These restricted common stock vest over a period of three years from the date of issuance.


	Amount
Goodwill	$	169
Identified intangible assets	35
Cash and restricted cash	20
Net assets acquired	7
Total	$	231

Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from integrating Koi’s technology into our platforms. The goodwill is deductible for U.S. income tax purposes.

The following table presents details of the identified intangible asset acquired (in millions, except years):


	Fair Value		Estimated Useful Life
Developed technology	$	35	5 years

Portkey, Inc.

On April 30, 2026, we entered into a definitive agreement to acquire Portkey, Inc., a privately-held AI Gateway company (“Portkey”), in exchange for total consideration of $140 million in cash and replacement awards, subject to adjustments. We expect the acquisition will enhance the capabilities of Prisma AIRS. Refer to Note 17. Subsequent Events for additional information.

Additional Acquisition-Related Information

Since the date of acquisitions, the combined net impact of the Chronosphere and CyberArk acquisitions on our condensed consolidated statements of operations was revenue of $388 million and $391 million and operating loss of $523 million and $524 million for the three and nine months ended April 30, 2026, respectively.

The following unaudited pro forma financial information summarizes the combined results of operations for Palo Alto Networks, Chronosphere, and CyberArk, as though the companies were combined as of the beginning of our fiscal 2025 (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Total revenue	$	3,043	$	2,621	$	8,917	$	7,598
Net income (loss)	$	8	$	(2)	$	134	$	(178)

The unaudited pro forma financial information for the three and nine months ended April 30, 2026 and 2025 combines the historical results of Palo Alto Networks and Chronosphere for these periods with the historical results of CyberArk for the three and nine months ended March 31, 2026 and 2025, respectively. The unaudited pro forma financial information include adjustments attributable to our acquisition of Chronosphere and CyberArk, including amortization of acquired intangible assets, stock-based compensation expense from assumed replacement equity awards, acquisition-related transaction costs, employee severance costs under the workforce optimization plan, and income tax impact. The unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisitions had taken place at the beginning of our fiscal 2025 or of the results of our future operations of the combined business.

Additional information related to our acquisitions, such as that related to income tax and other contingencies, existing as of the acquisition date may become known during the remainder of the measurement period, not to exceed 12 months from the acquisition date, which may result in changes to the amounts and allocations recorded.

- Definition

The entire disclosure for business combination.

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+ Details

Fair Value Measurements (Fair Value of Financial Assets and Liabilities) Narrative (Details) - IBM’s QRadar Assets $ in Billions	Apr. 30, 2026 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis
Undiscounted contingent consideration, value, low	$ 0.3
Undiscounted contingent consideration, value, high	$ 0.5

Goodwill, Intangible Assets and Other Long-Lived Assets (Purchased Intangible Assets by Major Class) (Details) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Intangible assets subject to amortization:
Total purchased intangible assets, gross carrying amount	$ 8,027	$ 1,170
Accumulated Amortization	(744)	(407)
Total	7,283
Total purchased intangible assets, net carrying amount	7,283	763
Developed technology
Intangible assets subject to amortization:
Gross Carrying Amount	3,387	536
Accumulated Amortization	(458)	(274)
Total	2,929	262
Customer relationships and platform renewals
Intangible assets subject to amortization:
Gross Carrying Amount	4,364	609
Accumulated Amortization	(240)	(123)
Total	4,124	486
Customer contracts
Intangible assets subject to amortization:
Gross Carrying Amount	219	0
Accumulated Amortization	(27)	0
Total	192	0
Acquired intellectual property
Intangible assets subject to amortization:
Gross Carrying Amount	24	24
Accumulated Amortization	(11)	(9)
Total	13	15
Trade name and trademarks
Intangible assets subject to amortization:
Gross Carrying Amount	33	0
Accumulated Amortization	(8)	0
Total	25	0
Other
Intangible assets subject to amortization:
Gross Carrying Amount	0	1
Accumulated Amortization	0	(1)
Total	$ 0	$ 0

Income Taxes	9 Months Ended
Income Taxes	Apr. 30, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income taxes primarily consist of U.S. and foreign income taxes and our effective tax rates differ from the U.S. statutory tax rate primarily due to our CyberArk acquisition and excess tax benefits from share-based compensation. For the three months ended April 30, 2026, our provision for income taxes reflected an effective tax rate of negative 13.5% and for the nine months ended April 30, 2026, our provision for income taxes reflected an effective tax rate of 26.8%. For the three and nine months ended April 30, 2025, our provision for income taxes reflected effective tax rates of 15.6% and 12.3%, respectively. Our effective tax rates for the three and nine months ended April 30, 2026 were impacted by our CyberArk acquisition and decreased excess tax benefits from share-based compensation as compared to the same periods in 2025.

- Definition

The entire disclosure for income tax.

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+ Details

Financing Receivables (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Receivables [Abstract]
Financing receivable sold	$ 49	$ 28	$ 54	$ 30

Goodwill, Intangible Assets and Other Long-Lived Assets (Tables)

9 Months Ended

Apr. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents details of our goodwill during the nine months ended April 30, 2026 (in millions):


	Amount
Balance as of July 31, 2025	$	4,567
Goodwill acquired	17,335

Balance as of April 30, 2026	$	21,902

Schedule of Purchased Finite-lived Intangible Assets by Major Class

The following table presents details of our purchased intangible assets as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026						July 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Developed technology	$	3,387	$	(458)	$	2,929	$	536	$	(274)	$	262
Customer relationships and platform renewals	4,364		(240)		4,124		609		(123)		486
Customer contracts	219		(27)		192		—		—		—
Acquired intellectual property	24		(11)		13		24		(9)		15
Trade name and trademarks	33		(8)		25		—		—		—
Other	—		—		—		1		(1)		—



Total purchased intangible assets	$	8,027	$	(744)	$	7,283	$	1,170	$	(407)	$	763

Schedule of Amortization Expenses of our Intangible Assets Included In Costs And Expenses

The following table summarizes amortization expense of our intangible assets included in costs and expenses (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Cost of product revenue	$	37	$	—	$	37	$	—
Cost of subscription and support revenue	146		29		197		88

Sales and marketing	97		14		125		41

Total intangible assets amortization	$	280	$	43	$	359	$	129

Schedule of Future Amortization Expense of Intangible Assets

The following table summarizes estimated future amortization expense of our intangible assets subject to amortization as of April 30, 2026 (in millions):


			Fiscal years ending July 31,
	Total		Remaining 2026		2027		2028		2029		2030		2031 and Thereafter
Future amortization expense	$	7,283	$	281	$	1,078	$	986	$	906	$	889	$	3,143

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Acquisition (Intangible Assets Acquired as Part of Business Combination) (Details) - USD ($) $ in Millions	Apr. 14, 2026	Feb. 11, 2026	Jan. 29, 2026
Chronosphere, Inc.
Business Combination
Fair Value			$ 565
Chronosphere, Inc. \| Developed technology
Business Combination
Fair Value			$ 300
Estimated Useful Life			5 years
Chronosphere, Inc. \| Customer relationships
Business Combination
Fair Value			$ 255
Chronosphere, Inc. \| Customer relationships \| Minimum
Business Combination
Estimated Useful Life			6 years
Chronosphere, Inc. \| Customer relationships \| Maximum
Business Combination
Estimated Useful Life			10 years
Chronosphere, Inc. \| Trade name and trademarks
Business Combination
Fair Value			$ 10
Estimated Useful Life			1 year
CyberArk Software Ltd.
Business Combination
Fair Value		$ 6,279
CyberArk Software Ltd. \| Developed technology
Business Combination
Fair Value		$ 2,537
CyberArk Software Ltd. \| Developed technology \| Minimum
Business Combination
Estimated Useful Life		5 years
CyberArk Software Ltd. \| Developed technology \| Maximum
Business Combination
Estimated Useful Life		7 years
CyberArk Software Ltd. \| Platform renewals
Business Combination
Fair Value		$ 3,500
CyberArk Software Ltd. \| Platform renewals \| Minimum
Business Combination
Estimated Useful Life		12 years
CyberArk Software Ltd. \| Platform renewals \| Maximum
Business Combination
Estimated Useful Life		14 years
CyberArk Software Ltd. \| Customer contracts
Business Combination
Fair Value		$ 219
Estimated Useful Life		2 years
CyberArk Software Ltd. \| Trade name
Business Combination
Fair Value		$ 23
Estimated Useful Life		1 year
Koi Security Ltd \| Developed technology
Business Combination
Fair Value	$ 35
Estimated Useful Life	5 years

Net Income (Loss) Per Share (Schedule of Antidilutive Securities Excluded from Computation) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Employee equity incentive plans
Antidilutive Securities Excluded from Computation of Earnings Per Share
Employee equity incentive plans (in shares)	30	4	6	5

Equity Award Plans (RSU and PSU Activities) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended
	Apr. 30, 2026	Jul. 31, 2025
RSUs and PSUs, Outstanding Roll Forward
Granted (in shares)	3
RSUs
RSUs and PSUs, Outstanding Roll Forward
Balance, beginning (in shares)	13
Granted (in shares)	14
Vested (in shares)	(6)
Forfeited (in shares)	(2)
Balance, ending (in shares)	19
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Balance, beginning (in usd per share)	$ 143.33
Granted (in usd per share)	178.55
Vested (in usd per share)	140.04
Forfeited (in usd per share)	153.49
Balance, ending (in usd per share)	$ 169.21
RSUs and PSUs, Additional Disclosures
Aggregate intrinsic value	$ 3,450	$ 2,285
RSUs \| Chronosphere, CyberArk, and Koi
RSUs and PSUs, Outstanding Roll Forward
Granted (in shares)	7
RSUs \| Chronosphere, Inc.
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Granted (in usd per share)	$ 176.20
RSUs \| CyberArk Software Ltd.
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Granted (in usd per share)	165.30
RSUs \| Koi Security Ltd
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Granted (in usd per share)	$ 161.59
PSUs
RSUs and PSUs, Outstanding Roll Forward
Balance, beginning (in shares)	9
Granted (in shares)	4
Vested (in shares)	(3)
Forfeited (in shares)	(2)
Balance, ending (in shares)	8
RSUs and PSUs, Outstanding, Weighted-Average Grant-Date Fair Value Per Share
Balance, beginning (in usd per share)	$ 140.92
Granted (in usd per share)	186.49
Vested (in usd per share)	150.47
Forfeited (in usd per share)	142.73
Balance, ending (in usd per share)	$ 156.51
RSUs and PSUs, Additional Disclosures
Aggregate intrinsic value	$ 1,461	$ 1,635

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Revenue:
Total revenue	$ 3,002	$ 2,289	$ 8,070	$ 6,685
Cost of revenue:
Total cost of revenue	974	619	2,297	1,772
Total gross profit	2,028	1,670	5,773	4,913
Operating expenses:
Research and development	734	494	1,773	1,480
Sales and marketing	1,161	793	2,804	2,271
General and administrative	316	164	673	416
Total operating expenses	2,211	1,451	5,250	4,167
Operating income (loss)	(183)	219	523	746
Interest expense	0	(1)	0	(3)
Other income, net	27	93	282	261
Income (loss) before income taxes	(156)	311	805	1,004
Provision for income taxes	21	49	216	124
Net income (loss)	$ (177)	$ 262	$ 589	$ 880
Net income (loss) per share, basic (in usd per share)	$ (0.22)	$ 0.39	$ 0.81	$ 1.33
Net income (loss) per share, diluted (in usd per share)	$ (0.22)	$ 0.37	$ 0.79	$ 1.24
Weighted-average shares used to compute net income (loss) per share, basic (in shares)	801	665	729	659
Weighted-average shares used to compute net income (loss) per share, diluted (in shares)	801	707	744	708
Product
Revenue:
Total revenue	$ 594	$ 453	$ 1,542	$ 1,228
Cost of revenue:
Total cost of revenue	167	101	371	277
Subscription and support
Revenue:
Total revenue	2,408	1,836	6,528	5,457
Cost of revenue:
Total cost of revenue	$ 807	$ 518	$ 1,926	$ 1,495

Net Income (Loss) Per Share (Computation of Basic and Diluted Net Income (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Earnings Per Share [Abstract]
Net income (loss)	$ (177)	$ 262	$ 589	$ 880
Weighted-average shares used to compute net income (loss) per share, basic (in shares)	801	665	729	659
Weighted-average effect of potentially dilutive securities:
Convertible senior notes (in shares)	0	6	0	9
Warrants related to the issuance of convertible senior notes (in shares)	0	25	8	25
Employee equity incentive plans (in shares)	0	11	7	15
Weighted-average shares used to compute net income (loss) per share, diluted (in shares)	801	707	744	708
Net income (loss) per share, basic (in usd per share)	$ (0.22)	$ 0.39	$ 0.81	$ 1.33
Net income (loss) per share, diluted (in usd per share)	$ (0.22)	$ 0.37	$ 0.79	$ 1.24

Goodwill, Intangible Assets and Other Long-Lived Assets (Amortization of Purchased Intangible Assets) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Finite-Lived Intangible Assets
Total intangible assets amortization	$ 280	$ 43	$ 359	$ 129
Sales and marketing
Finite-Lived Intangible Assets
Total intangible assets amortization	97	14	125	41
Product \| Revenue
Finite-Lived Intangible Assets
Total intangible assets amortization	37	0	37	0
Subscription and support \| Revenue
Finite-Lived Intangible Assets
Total intangible assets amortization	$ 146	$ 29	$ 197	$ 88

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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+ Details

Acquisition - Schedule of Purchase Consideration (Details) - USD ($) $ in Millions				9 Months Ended
	Apr. 14, 2026	Feb. 11, 2026	Jan. 29, 2026	Apr. 30, 2026	Apr. 30, 2025
Business Combination
Fair value of replacement awards				$ 18,862	$ 0
Chronosphere, Inc.
Business Combination
Cash			$ 2,842
Fair value of replacement awards			109
Total			$ 2,951
Stock issued (in shares)			2,000,000
CyberArk Software Ltd.
Business Combination
Cash		$ 2,308
Total		$ 21,061
Stock issued (in shares)		2.2005
CyberArk Software Ltd. \| Common stock
Business Combination
Fair value of replacement awards		$ 18,488
Stock issued (in shares)		112,000,000
CyberArk Software Ltd. \| Replacement Equity Awards
Business Combination
Fair value of replacement awards		$ 265
Koi Security Ltd
Business Combination
Total	$ 231
Stock issued (in shares)	300,000

Revenue (Disaggregation of Revenue - Geographic Theater) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Disaggregation of Revenue
Revenue:	$ 3,002	$ 2,289	$ 8,070	$ 6,685
United States
Disaggregation of Revenue
Revenue:	1,854	1,425	4,968	4,169
Other Americas
Disaggregation of Revenue
Revenue:	164	105	403	305
Total Americas
Disaggregation of Revenue
Revenue:	2,018	1,530	5,371	4,474
Europe, the Middle East, and Africa (“EMEA”)
Disaggregation of Revenue
Revenue:	633	480	1,714	1,402
Asia Pacific and Japan (“APAC”)
Disaggregation of Revenue
Revenue:	$ 351	$ 279	$ 985	$ 809

- Definition

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Revenue (Remaining Performance Obligations) (Details) $ in Billions	Apr. 30, 2026 USD ($)
Remaining Performance Obligations, Expected Timing of Satisfaction
Remaining performance obligations	$ 18.4
Remaining Performance Obligations, Expected Timing of Satisfaction, Start Date: 2026-05-01
Remaining Performance Obligations, Expected Timing of Satisfaction
Remaining performance obligations	$ 8.3
Remaining performance obligations, expected timing of satisfaction, period	12 months

Equity Award Plans (PSO Activities) (Details) - PSOs - USD ($) $ / shares in Units, shares in Millions, $ in Millions	9 Months Ended	12 Months Ended
	Apr. 30, 2026	Jul. 31, 2025
Number of Shares
Balance, beginning (in shares)	1
Exercised (in shares)	(1)
Balance, ending (in shares)	0	1
Options exercisable (in shares)	0
Weighted-Average Exercise Price Per Share
Balance, beginning (in usd per share)	$ 32.76
Exercised (in usd per share)	32.76
Balance, ending (in usd per share)	0	$ 32.76
Options exercisable, weighted-average exercise price (in usd per share)	$ 0
PSOs, Additional Disclosures
Weighted-average remaining contractual life (in years)	0 years	6 months
Options exercisable, weighted-average remaining contractual term (in years)	0 years
Aggregate intrinsic value	$ 0	$ 197
Options exercisable, aggregate intrinsic value	$ 0

Derivative Instruments (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
Derivative Instruments (Details) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Derivative [Line Items]
Unrealized gains (losses) in AOCI related to cash flow hedges	$ 19	$ 40
Gains expected to be recognized into earnings within the next 12 months	19
Cash Flow Hedging
Derivative [Line Items]
Total notional amount	821	964
Not Designated as Hedging Instrument
Derivative [Line Items]
Total notional amount	$ 412	$ 504
Foreign exchange contract
Derivative [Line Items]
Maximum contract term of cash flow hedge	24 months

Net Income (Loss) Per Share (Tables)

9 Months Ended

Apr. 30, 2026

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Share of Common Stock

The following table presents the computation of basic and diluted net income (loss) per share of common stock (in millions, except per share data):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Net income (loss)	$	(177)	$	262	$	589	$	880

Weighted-average shares used to compute net income (loss) per share, basic	801		665		729		659
Weighted-average effect of potentially dilutive securities:
Convertible senior notes	—		6		—		9
Warrants related to the issuance of convertible senior notes	—		25		8		25
Employee equity incentive plans	—		11		7		15
Weighted-average shares used to compute net income (loss) per share, diluted	801		707		744		708

Net income (loss) per share, basic	$	(0.22)	$	0.39	$	0.81	$	1.33
Net income (loss) per share, diluted	$	(0.22)	$	0.37	$	0.79	$	1.24

Schedule of Antidilutive Securities Excluded From the Computation of Net Income (Loss) Per Share

The following securities were excluded from the computation of diluted net income (loss) per share of common stock as their effect would have been antidilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the applicable period (in millions):


	Three Months Ended April 30,		Nine Months Ended April 30,
	2026	2025	2026	2025


Employee equity incentive plans	30	4	6	5

Cover Page - shares shares in Millions	9 Months Ended
Cover Page - shares shares in Millions	Apr. 30, 2026	May 26, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2026
Document Transition Report	false
Entity File Number	001-35594
Entity Registrant Name	PALO ALTO NETWORKS, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2530195
Entity Address, Address Line One	3000 Tannery Way
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	408
Local Phone Number	753-4000
Title of 12(b) Security	Common stock, $0.0001 par value per share
Trading Symbol	PANW
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Emerging Growth Company	false
Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		815
Entity Central Index Key	0001327567
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q3
Document Fiscal Year End Date	--07-31

Equity Award Plans (Allocation of Share-based Compensation) (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	$ 684	$ 326	$ 1,355	$ 941
Unvested share-based awards not yet recognized	3,600		$ 3,600
Weighted-average recognition period			2 years 7 months 6 days
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	188	92	$ 388	258
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	238	$ 67	372	$ 173
CyberArk and Koi
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	177		177
CyberArk and Koi \| Cost of subscription and support revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	1		1
CyberArk and Koi \| Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	36		36
CyberArk and Koi \| General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs
Total share-based compensation	$ 140		$ 140

Equity Award Plans (Valuation Assumptions) (Details) - PSUs subject to service, performance, and market conditions - $ / shares	9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award
Dividend yield	0.00%	0.00%
Risk-free interest rate, minimum	3.60%	3.70%
Risk-free interest rate, maximum	3.90%	4.50%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Volatility	36.60%	43.50%
Expected term (in years)	1 year	1 year
Grant date fair value (in usd per share)	$ 226.06	$ 264.51
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Volatility	42.60%	47.60%
Expected term (in years)	3 years	2 years 10 months 24 days
Grant date fair value (in usd per share)	$ 261.62	$ 305.83

Derivative Instruments	9 Months Ended
Derivative Instruments	Apr. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments We are exposed to foreign currency exchange risk. Our sales contracts are primarily denominated in U.S. dollars. A portion of our operating expenditures are denominated in foreign currencies, making them subject to fluctuations in foreign currency exchange rates. We enter into foreign currency derivative contracts with maturities of 24 months or less, which we designate as cash flow hedges, to manage the foreign currency exchange risk associated with our revenue and operating expenditures. As of April 30, 2026 and July 31, 2025, the total notional amount of our outstanding foreign currency forward contracts designated as cash flow hedges was $821 million and $964 million, respectively. Refer to Note 3. Fair Value Measurements for the fair value of our derivative instruments as reported on our condensed consolidated balance sheets as of April 30, 2026 and July 31, 2025. As of April 30, 2026, unrealized gains and losses in AOCI related to our cash flow hedges were a net gain of $19 million, substantially all of which is expected to be recognized into earnings within the next 12 months. As of July 31, 2025, unrealized gains and losses in AOCI related to our cash flow hedges were a net gain of $40 million. As of April 30, 2026 and July 31, 2025, the notional amount of our outstanding foreign currency forward contracts not designated as hedging instruments was $412 million and $504 million, respectively.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Financing Receivables (Internal Credit Risk) (Details) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Financing Receivable, Credit Quality Indicator [Line Items]
2026	$ 204
2025	352	$ 435
2024	682	962
2023	140	306
2022	5	9
2021		18
Total	1,383	1,730
1 to 4
Financing Receivable, Credit Quality Indicator [Line Items]
2026	95
2025	223	261
2024	553	732
2023	126	242
2022	5	9
2021		18
Total	1,002	1,262
5 to 6
Financing Receivable, Credit Quality Indicator [Line Items]
2026	109
2025	104	174
2024	120	226
2023	10	50
2022	0	0
2021		0
Total	343	450
7 to 10
Financing Receivable, Credit Quality Indicator [Line Items]
2026	0
2025	25	0
2024	9	4
2023	4	14
2022	0	0
2021		0
Total	$ 38	$ 18

Acquisition - Summary of Employee Severance Charges (Details) - CyberArk Software Ltd. - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Apr. 30, 2026	Apr. 30, 2026
Business Combination
Severance costs	$ 41	$ 41
Cost of subscription and support revenue
Business Combination
Severance costs	2	2
Research and development
Business Combination
Severance costs	1	1
Sales and marketing
Business Combination
Severance costs	29	29
General and administrative
Business Combination
Severance costs	9	9
Cash Compensation
Business Combination
Severance costs	24	24
Cash Compensation \| Cost of subscription and support revenue
Business Combination
Severance costs	2	2
Cash Compensation \| Research and development
Business Combination
Severance costs	1	1
Cash Compensation \| Sales and marketing
Business Combination
Severance costs	13	13
Cash Compensation \| General and administrative
Business Combination
Severance costs	8	8
Share-based Compensation
Business Combination
Severance costs	17	17
Share-based Compensation \| Cost of subscription and support revenue
Business Combination
Severance costs	0	0
Share-based Compensation \| Research and development
Business Combination
Severance costs	0	0
Share-based Compensation \| Sales and marketing
Business Combination
Severance costs	16	16
Share-based Compensation \| General and administrative
Business Combination
Severance costs	$ 1	$ 1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-URI https://asc.fasb.org/1943274/2147479907/805-20-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 805
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-Name Accounting Standards Codification
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 805
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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
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-Section 50
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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Goodwill, Intangible Assets and Other Long-Lived Assets (Future Amortization Expense of Intangible Assets) (Details) $ in Millions	Apr. 30, 2026 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Total	$ 7,283
Remaining 2026	281
2027	1,078
2028	986
2029	906
2030	889
2031 and Thereafter	$ 3,143

Cash Equivalents and Investments (Tables)

9 Months Ended

Apr. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Debt Securities

The following tables summarize the amortized cost, unrealized gains and losses, and fair value of our available-for-sale debt securities as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:

Commercial paper	$	535	$	—	$	—	$	535
Corporate debt securities	2		—		—		2
U.S. government and agency securities	75		—		—		75

Total available-for-sale cash equivalents	$	612	$	—	$	—	$	612
Investments:

Commercial paper	$	10	$	—	$	—	$	10
Corporate debt securities	3,521		20		(10)		3,531
U.S. government and agency securities	66		—		—		66

Asset-backed securities	734		4		(1)		737
Total available-for-sale investments	$	4,331	$	24	$	(11)	$	4,344


	July 31, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:

Commercial paper	$	169	$	—	$	—	$	169



Total available-for-sale cash equivalents	$	169	$	—	$	—	$	169
Investments:

Commercial paper	$	15	$	—	$	—	$	15
Corporate debt securities	4,588		47		(1)		4,634
U.S. government and agency securities	170		—		—		170
Non-U.S. government and agency securities	29		—		—		29
Asset-backed securities	1,328		9		—		1,337
Total available-for-sale investments	$	6,130	$	56	$	(1)	$	6,185

Schedule of Contractual Maturities of Available-for-sale Debt Securities

The following table summarizes the amortized cost and fair value of our available-for-sale debt securities as of April 30, 2026, by contractual years-to-maturity (in millions):


	Amortized Cost		Fair Value
Due within one year	$	1,073	$	1,075
Due between one and three years	1,559		1,570
Due between three and five years	2,064		2,064
Due between five and ten years	102		102
Due after ten years	145		145
Total	$	4,943	$	4,956

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025
Cash flows from operating activities
Net income	$ 589	$ 880
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation for equity-based awards	1,314	941
Deferred income taxes	38	(442)
Depreciation and amortization	514	259
Amortization of deferred contract costs	410	344
Amortization of debt issuance costs	0	1
Change in fair value of convertible senior notes and capped calls	38	0
Change in fair value of contingent consideration liability	(120)	20
Reduction of operating lease right-of-use assets	54	48
Amortization of investment premiums, net of accretion of purchase discounts	(53)	(35)
Unrealized foreign currency exchange (gains) losses, net	9	0
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	441	669
Financing receivables, net	347	102
Deferred contract costs	(410)	(328)
Prepaid expenses and other assets	(47)	68
Accounts payable	50	119
Accrued compensation	(42)	(49)
Accrued and other liabilities	11	34
Deferred revenue	53	64
Net cash provided by operating activities	3,196	2,695
Cash flows from investing activities
Purchases of investments	(2,421)	(2,821)
Proceeds from sales of investments	3,399	830
Proceeds from maturities of investments	1,824	1,208
Business acquisitions, net of cash and restricted cash acquired	(4,563)	(499)
Purchases of property, equipment, and other assets	(337)	(160)
Net cash used in investing activities	(2,098)	(1,442)
Cash flows from financing activities
Repayments of convertible senior notes	0	(583)
Proceeds from capped calls related to convertible senior notes	10	0
Repurchases of common stock	(1,000)	0
Proceeds from sales of shares through employee equity incentive plans	264	361
Payments for taxes related to net share settlement of equity awards	(125)	(183)
Payments of contingent consideration liability	(154)	0
Net cash used in financing activities	(1,005)	(405)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	2	0
Net increase in cash, cash equivalents, and restricted cash	95	848
Cash, cash equivalents, and restricted cash—beginning of period	2,279	1,547
Cash, cash equivalents, and restricted cash—end of period	2,374	2,395
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	2,364	2,383
Restricted cash included in prepaid expenses and other current assets	6	12
Restricted cash included in other assets	4	0
Total cash, cash equivalents, and restricted cash	2,374	2,395
Non-cash investing and financing activities
Equity consideration for business acquisitions	(18,862)	0
Contingent consideration for a business acquisition	$ 0	$ (649)

Cash Equivalents and Investments

9 Months Ended

Apr. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents and Investments

Available-for-sale Debt Securities

The following tables summarize the amortized cost, unrealized gains and losses, and fair value of our available-for-sale debt securities as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:

Commercial paper	$	535	$	—	$	—	$	535
Corporate debt securities	2		—		—		2
U.S. government and agency securities	75		—		—		75

Total available-for-sale cash equivalents	$	612	$	—	$	—	$	612
Investments:

Commercial paper	$	10	$	—	$	—	$	10
Corporate debt securities	3,521		20		(10)		3,531
U.S. government and agency securities	66		—		—		66

Asset-backed securities	734		4		(1)		737
Total available-for-sale investments	$	4,331	$	24	$	(11)	$	4,344


	July 31, 2025
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash equivalents:

Commercial paper	$	169	$	—	$	—	$	169



Total available-for-sale cash equivalents	$	169	$	—	$	—	$	169
Investments:

Commercial paper	$	15	$	—	$	—	$	15
Corporate debt securities	4,588		47		(1)		4,634
U.S. government and agency securities	170		—		—		170
Non-U.S. government and agency securities	29		—		—		29
Asset-backed securities	1,328		9		—		1,337
Total available-for-sale investments	$	6,130	$	56	$	(1)	$	6,185

Unrealized losses related to our available-for-sale debt securities are primarily due to interest rate fluctuations as opposed to credit quality. We do not intend to sell any of the securities in an unrealized loss position and it is not likely that we would be required to sell these securities before recovery of their amortized cost basis, which may be at maturity. We did not recognize any credit losses related to our available-for-sale debt securities during the three and nine months ended April 30, 2026 and 2025.

The following table summarizes the amortized cost and fair value of our available-for-sale debt securities as of April 30, 2026, by contractual years-to-maturity (in millions):


	Amortized Cost		Fair Value
Due within one year	$	1,073	$	1,075
Due between one and three years	1,559		1,570
Due between three and five years	2,064		2,064
Due between five and ten years	102		102
Due after ten years	145		145
Total	$	4,943	$	4,956

Marketable Equity Securities

Marketable equity securities consist of money market funds and are included in cash and cash equivalents on our condensed consolidated balance sheets. As of April 30, 2026 and July 31, 2025, the carrying values of our marketable equity securities were $944 million and $1.2 billion, respectively. There were no unrealized gains or losses recognized for these securities during the three and nine months ended April 30, 2026 and 2025.

Equity Award Plans (Tables)

9 Months Ended

Apr. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of RSU and PSU Activities

The following table summarizes the RSU and PSU activity under our stock plans during the nine months ended April 30, 2026 (in millions, except per share amounts):


	Unvested RSUs			Unvested PSUs
	Number of Shares	Weighted-Average Grant-Date Fair Value Per Share		Aggregate Intrinsic Value		Number of Shares	Weighted-Average Grant-Date Fair Value Per Share		Aggregate Intrinsic Value
Balance—July 31, 2025	13	$	143.33	$	2,285	9	$	140.92	$	1,635
Granted(1)(2)	14	$	178.55			4	$	186.49
Vested(3)	(6)	$	140.04			(3)	$	150.47
Forfeited	(2)	$	153.49			(2)	$	142.73
Balance—April 30, 2026	19	$	169.21	$	3,450	8	$	156.51	$	1,461

(1)For PSUs, shares granted represent the aggregate maximum number of shares that may be earned and issued with respect to these awards over their full terms.

(3)Includes time-based vesting for PSUs.

Schedule of Assumptions Used and Resulting Grant-date Fair Values

The following table summarizes the assumptions used and the resulting grant-date fair value of our PSUs subject to market conditions granted during the nine months ended April 30, 2026 and 2025:



	Nine Months Ended April 30,
		2026		2025
Volatility		36.6% - 42.6%		43.5% - 47.6%
Expected term (in years)		1.0 - 3.0		1.0 - 2.9
Dividend yield		0.0	%	0.0	%
Risk-free interest rate		3.6% - 3.9%		3.7% - 4.5%
Grant-date fair value per share		$226.06 - $261.62		$264.51 - $305.83

Schedule of PSO Activity

The following table summarizes the PSO activity under our stock plans during the nine months ended April 30, 2026 (in millions, except per share amounts):



	Number of Shares	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Balance—July 31, 2025	1	$	32.76	0.5	$	197

Exercised	(1)	$	32.76

Balance—April 30, 2026	—	$	—	0.0	$	—
Exercisable—April 30, 2026	—	$	—	0.0	$	—

Schedule of Allocation of Share-based Compensation Expense

The following table summarizes share-based compensation included in costs and expenses (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Cost of product revenue	$	2	$	1	$	4	$	4
Cost of subscription and support revenue	50		32		114		95
Research and development	206		134		477		411
Sales and marketing	188		92		388		258
General and administrative	238		67		372		173
Total share-based compensation	$	684	$	326	$	1,355	$	941

Fair Value Measurements (Fair Value of Financial Assets and Liabilities) (Details) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Cash equivalents:
Cash equivalents	$ 1,556	$ 1,375
Prepaid expenses and other current assets:
Foreign currency forward contracts	64	58
Total prepaid expenses and other current assets	64	58
Other assets:
Derivative asset	94	0
Total other assets	95	3
Total assets measured at fair value	6,059	7,621
Accrued and other liabilities:
Short-term convertible senior notes	160	0
Contingent consideration	124	276
Total accrued and other liabilities	129	280
Other long-term liabilities:
Long-term convertible senior notes	1,192	0
Contingent consideration	116	238
Total other long-term liabilities	117	238
Total liabilities measured at fair value	1,598	518
Short-Term Investments
Short-term investments:
Short and long-term investments	463	630
Long-Term Investments
Short-term investments:
Short and long-term investments	3,881	5,555
Money market funds
Cash equivalents:
Cash equivalents	944	1,206
Certificates of deposit \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Commercial paper
Cash equivalents:
Cash equivalents	535	169
Commercial paper \| Short-Term Investments
Short-term investments:
Short and long-term investments	10	15
Corporate debt securities
Cash equivalents:
Cash equivalents	2	0
Corporate debt securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	413	584
Corporate debt securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	3,118	4,050
U.S. government and agency securities
Cash equivalents:
Cash equivalents	75	0
U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	27	6
U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	39	164
Non-U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	3
Non-U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	26
Asset-backed securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	13	22
Asset-backed securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	724	1,315
Foreign Exchange Forward
Other assets:
Foreign currency forward contracts	$ 1	$ 3
Foreign currency forward contracts	Other assets	Other assets
Accrued and other liabilities:
Foreign currency forward contracts	$ 5	$ 4
Foreign currency forward contracts	Accrued and other liabilities	Accrued and other liabilities
Other long-term liabilities:
Foreign currency forward contracts	$ 1	$ 0
Foreign currency forward contracts	Other long-term liabilities	Other long-term liabilities
Level 1
Cash equivalents:
Cash equivalents	$ 944	$ 1,206
Prepaid expenses and other current assets:
Foreign currency forward contracts	0	0
Total prepaid expenses and other current assets	0	0
Other assets:
Derivative asset	0	0
Total other assets	0	0
Total assets measured at fair value	944	1,206
Accrued and other liabilities:
Short-term convertible senior notes	0	0
Contingent consideration	0	0
Total accrued and other liabilities	0	0
Other long-term liabilities:
Long-term convertible senior notes	0	0
Contingent consideration	0	0
Total other long-term liabilities	0	0
Total liabilities measured at fair value	0	0
Level 1 \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Money market funds
Cash equivalents:
Cash equivalents	944	1,206
Level 1 \| Certificates of deposit \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Commercial paper
Cash equivalents:
Cash equivalents	0	0
Level 1 \| Commercial paper \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Corporate debt securities
Cash equivalents:
Cash equivalents	0	0
Level 1 \| Corporate debt securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Corporate debt securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| U.S. government and agency securities
Cash equivalents:
Cash equivalents	0	0
Level 1 \| U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Non-U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Non-U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Asset-backed securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Asset-backed securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 1 \| Foreign Exchange Forward
Other assets:
Foreign currency forward contracts	0	0
Accrued and other liabilities:
Foreign currency forward contracts	0	0
Other long-term liabilities:
Foreign currency forward contracts	0	0
Level 2
Cash equivalents:
Cash equivalents	612	169
Prepaid expenses and other current assets:
Foreign currency forward contracts	64	58
Total prepaid expenses and other current assets	64	58
Other assets:
Derivative asset	94	0
Total other assets	95	3
Total assets measured at fair value	5,115	6,415
Accrued and other liabilities:
Short-term convertible senior notes	160	0
Contingent consideration	0	0
Total accrued and other liabilities	5	4
Other long-term liabilities:
Long-term convertible senior notes	1,192	0
Contingent consideration	0	0
Total other long-term liabilities	1	0
Total liabilities measured at fair value	1,358	4
Level 2 \| Short-Term Investments
Short-term investments:
Short and long-term investments	463	630
Level 2 \| Long-Term Investments
Short-term investments:
Short and long-term investments	3,881	5,555
Level 2 \| Money market funds
Cash equivalents:
Cash equivalents	0	0
Level 2 \| Certificates of deposit \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 2 \| Commercial paper
Cash equivalents:
Cash equivalents	535	169
Level 2 \| Commercial paper \| Short-Term Investments
Short-term investments:
Short and long-term investments	10	15
Level 2 \| Corporate debt securities
Cash equivalents:
Cash equivalents	2	0
Level 2 \| Corporate debt securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	413	584
Level 2 \| Corporate debt securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	3,118	4,050
Level 2 \| U.S. government and agency securities
Cash equivalents:
Cash equivalents	75	0
Level 2 \| U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	27	6
Level 2 \| U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	39	164
Level 2 \| Non-U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	3
Level 2 \| Non-U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	26
Level 2 \| Asset-backed securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	13	22
Level 2 \| Asset-backed securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	724	1,315
Level 2 \| Foreign Exchange Forward
Other assets:
Foreign currency forward contracts	1	3
Accrued and other liabilities:
Foreign currency forward contracts	5	4
Other long-term liabilities:
Foreign currency forward contracts	1	0
Level 3
Cash equivalents:
Cash equivalents	0	0
Prepaid expenses and other current assets:
Foreign currency forward contracts	0	0
Total prepaid expenses and other current assets	0	0
Other assets:
Derivative asset	0	0
Total other assets	0	0
Total assets measured at fair value	0	0
Accrued and other liabilities:
Short-term convertible senior notes	0	0
Contingent consideration	124	276
Total accrued and other liabilities	124	276
Other long-term liabilities:
Long-term convertible senior notes	0	0
Contingent consideration	116	238
Total other long-term liabilities	116	238
Total liabilities measured at fair value	240	514
Level 3 \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Money market funds
Cash equivalents:
Cash equivalents	0	0
Level 3 \| Certificates of deposit \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Commercial paper
Cash equivalents:
Cash equivalents	0	0
Level 3 \| Commercial paper \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Corporate debt securities
Cash equivalents:
Cash equivalents	0	0
Level 3 \| Corporate debt securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Corporate debt securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| U.S. government and agency securities
Cash equivalents:
Cash equivalents	0	0
Level 3 \| U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Non-U.S. government and agency securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Non-U.S. government and agency securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Asset-backed securities \| Short-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Asset-backed securities \| Long-Term Investments
Short-term investments:
Short and long-term investments	0	0
Level 3 \| Foreign Exchange Forward
Other assets:
Foreign currency forward contracts	0	0
Accrued and other liabilities:
Foreign currency forward contracts	0	0
Other long-term liabilities:
Foreign currency forward contracts	$ 0	$ 0

Revenue (Tables)

9 Months Ended

Apr. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Revenue from External Customers by Geographic Areas

The following table presents revenue by geographic theater (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Revenue:
Americas
United States	$	1,854	$	1,425	$	4,968	$	4,169
Other Americas	164		105		403		305
Total Americas	2,018		1,530		5,371		4,474
Europe, the Middle East, and Africa (“EMEA”)	633		480		1,714		1,402
Asia Pacific and Japan (“APAC”)	351		279		985		809
Total revenue	$	3,002	$	2,289	$	8,070	$	6,685

Schedule of Revenue from External Customers by Products and Services

The following table presents revenue for groups of similar products and services (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Revenue:
Product	$	594	$	453	$	1,542	$	1,228
Subscription and support
Subscription	1,632		1,234		4,400		3,659
Support	776		602		2,128		1,798
Total subscription and support	2,408		1,836		6,528		5,457
Total revenue	$	3,002	$	2,289	$	8,070	$	6,685

Debt	9 Months Ended
Debt	Apr. 30, 2026
Debt Disclosure [Abstract]
Debt	Debt Convertible Senior Notes, Note Hedges, and Warrants In June 2020, we issued $2.0 billion aggregate principal amount of 0.375% Convertible Senior Notes due 2025 (the “2025 Notes”). The 2025 Notes were converted prior to or settled on the maturity date of June 1, 2025 in accordance with their terms. Concurrent with the issuance of the 2025 Notes, we entered into separate convertible note hedge transactions (the “2025 Note Hedges”) with respect to our common stock for an aggregate payment of $371 million. The 2025 Note Hedges expired upon maturity of the 2025 Notes. Any shares of our common stock that were receivable by us under the 2025 Note Hedges are excluded from the calculation of diluted earnings per share as they are antidilutive. Separately, but concurrently with the issuance of our 2025 Notes, we entered into transactions whereby we sold warrants (the “2025 Warrants”) to acquire 40 million shares of our common stock with a strike price of $68.08 per share, subject to anti-dilution adjustments, for aggregate proceeds of $203 million. The 2025 Warrants were exercisable over 60 scheduled trading days beginning September 2025. The shares that were issuable under the 2025 Warrants are included in the calculation of diluted earnings per share when the average market value per share of our common stock for the reporting period exceeds the strike price of the 2025 Warrants. During the nine months ended April 30, 2026, we net settled all of the 2025 Warrants with the issuance of 27 million shares of our common stock with a fair value of $5.6 billion. The number of net shares issued was determined based on the number of 2025 Warrants exercised multiplied by the difference between the strike price of the 2025 Warrants and their daily volume-weighted-average stock price. 2030 Convertible Senior Notes and Capped Calls 2030 Convertible Senior Notes In February 2026, in connection with the acquisition of CyberArk, we entered into a supplemental indenture (the “Supplemental Indenture”) to the Indenture, dated as of June 10, 2025 (together with the Supplemental Indenture, the “Indenture”), between CyberArk, as issuer, and U.S. Bank Trust Company, National Association, as trustee, governing CyberArk’s $1.25 billion aggregate principal amount of 0.0% Convertible Senior Notes due 2030 (the “2030 Notes”). As a result of our acquisition of CyberArk and pursuant to the Supplemental Indenture, the 2030 Notes are no longer convertible into ordinary shares of CyberArk. The conversion feature has been modified such that each $1,000 principal amount of the 2030 Notes are exchangeable for a combination of (i) approximately 4.3161 shares of our common stock, which is the effective initial conversion rate, and (ii) cash of $88.2630, subject to adjustment under the Indenture. These modifications result in the 2030 Notes being exchangeable initially for 5.4 million shares of our common stock with an effective initial conversion price of approximately $211.24 per share of common stock, subject to adjustments, and an initial cash amount of $110 million. The 2030 Notes are unsecured, unsubordinated obligations and the Indenture does not contain any financial covenants or restrictions on the payments of dividends, the incurrence of indebtedness, or the issuance or repurchase of securities by us or any of our subsidiaries. The 2030 Notes mature on June 15, 2030. We may redeem for cash all or, subject to certain limitations, any portion of the 2030 Notes, at our option, on or after June 20, 2028 and on or prior to the 31st scheduled trading day immediately preceding the maturity date if the last reported sale price of our common stock has been at least $280.75 per share for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on and including the trading day preceding the date on which we provide notice of redemption. Any redemption of the 2030 Notes will be at a price equal to 100% of the principal amount of the 2030 Notes, plus accrued and unpaid special interest, if any, up to, but excluding, the redemption date. If we call any or all of the 2030 Notes for redemption, holders may convert such 2030 Notes called for redemption at an increased conversion rate at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date. Holders of the 2030 Notes may surrender their 2030 Notes for conversion at their option at any time prior to the close of business on the business day immediately preceding February 15, 2030 under the following circumstances: •during any calendar quarter commencing after the calendar quarter ended on September 30, 2025 (and only during such calendar quarter), if the last reported sale price of our common stock is greater than or equal to $280.75 per share of our common stock on each applicable trading day for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter (the “sale price condition”); •during the five business day period immediately after any ten consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of the 2030 Notes for each trading day of the measurement period was less than 98% of the aggregate of (i) the product of the last reported sale price of our common stock on each such trading day and the conversion rate for the 2030 Notes on each such trading day and (ii) $88.2630; or •upon the occurrence of specified corporate events as described in the Indenture. On or after February 15, 2030, holders may surrender all or, subject to certain limitations, any portion of their 2030 Notes for conversion at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, and such conversions will be settled upon the maturity date. Upon any conversion of the 2030 Notes, holders of the 2030 Notes will receive cash equal to the aggregate principal amount of the 2030 Notes to be converted, and, at our election, cash or a combination of cash and shares of our common stock for any amounts in excess of the aggregate principal amount of the 2030 Notes converted. The conversion rate will be subject to adjustment in connection with certain events. Holders of the 2030 Notes who convert their 2030 Notes in connection with certain corporate events that constitute a “make-whole fundamental change” under the Indenture are, under certain circumstances, entitled to an increase in the conversion rate for a certain period of time. Additionally, following the occurrence of a corporate event that constitutes a “fundamental change” under the Indenture, holders of the 2030 Notes may require us to repurchase for cash all or a portion of the 2030 Notes at a repurchase price equal to 100% of the principal amount of the 2030 Notes plus accrued and unpaid special interest, if any, up to, but excluding, the fundamental change repurchase date. Our acquisition of CyberArk constituted both a “make-whole fundamental change” and a “fundamental change” under the Indenture. In connection with the make-whole fundamental change, holders had the option to convert all or a portion of their 2030 Notes at an increased conversion rate equal to a combination of approximately 5.5690 shares of our common stock and $113.8860 in cash per $1,000 principal amount (the “make-whole conversion right”). We elected cash settlement as the settlement method for any 2030 Notes surrendered during the make-whole fundamental change period, and certain holders of the 2030 Notes surrendered $153 million in aggregate principal amount of the 2030 Notes during the make-whole fundamental change period for conversion. In connection with the fundamental change, holders had the right to tender all or a portion of their 2030 Notes for cash (the “repurchase right”) pursuant to our offer to purchase in accordance with the obligations under the 2030 Notes. No holders exercised the repurchase right to tender their 2030 Notes. The make-whole conversion right and repurchase right resulting from our acquisition of CyberArk expired on March 20, 2026. As of April 30, 2026, the 2030 Notes surrendered by the holders during the make-whole conversion period were classified as a current liability on our condensed consolidated balance sheets. The related fair value of $160 million was estimated based on the sum of the daily conversion values computed from our stock price during the 30 consecutive trading days between March 24, 2026 and May 5, 2026. The 2030 Notes surrendered for conversion during the make-whole conversion period were settled in cash for $160 million on May 7, 2026. As of April 30, 2026, the remaining 2030 Notes with an aggregate principal amount of $1.1 billion were classified as a long-term liability on our condensed consolidated balance sheets since the sale price condition was not met during the calendar quarter ended March 31, 2026. The related fair value of $1.2 billion was determined based on the closing trading price per $100 of the 2030 Notes as of the last day of trading for the period. The fair value of the 2030 Notes is primarily affected by the trading price of our common stock and market interest rates. For the three and nine months ended April 30, 2026, changes in fair value of 2030 Notes included in earnings were a loss of $37 million, and changes in fair value attributable to instrument-specific credit risk included in AOCI were a loss of $12 million. Capped Calls In connection with our acquisition of CyberArk, on February 11, 2026, we entered into amendments to the capped call transactions that CyberArk purchased from certain financial institutions in connection with the issuance of the 2030 Notes. Under the amendments, we assumed the rights and obligations of CyberArk with respect to the capped call transactions, and modified the capped calls to require the delivery of shares of our common stock in lieu of ordinary shares of CyberArk. The capped calls have a strike price of approximately $211.24 per share, subject to certain adjustments, which corresponds to the effective initial conversion price of our 2030 Notes. The capped calls have cap prices ranging from approximately $287.21 to $291.44 per share, subject to certain adjustments. In connection with exercising the capped calls, we may elect that the capped calls be settled either entirely in cash or a combination of our common stock and cash. The capped calls are separate transactions from the 2030 Notes, and holders of the 2030 Notes do not have any rights with respect to the capped calls. The capped calls cover shares of our common stock underlying the 2030 Notes, subject to anti-dilution adjustments substantially similar to those applicable to the 2030 Notes. In April 2026, we elected to terminate portions of the capped calls in exchange for $10 million in cash in connection with the $153 million in aggregate principal amount of the 2030 Notes surrendered by certain holders during the make-whole conversion period. As of April 30, 2026, the fair value of the outstanding capped calls was $94 million, determined using the Black-Scholes option pricing model and observable inputs including price of our common stock, volatility, remaining contractual term, and risk-free interest rate. For the three and nine months ended April 30, 2026, change in fair value of capped calls was a loss of $1 million. Revolving Credit Facility On April 13, 2023, we entered into a credit agreement (the “Credit Agreement”) with certain institutional lenders that provides for a $400 million unsecured revolving credit facility (the “Credit Facility”), with an option to increase the amount of the Credit Facility by up to an additional $350 million, subject to certain conditions. The Credit Facility matures on April 13, 2028. The borrowings under the Credit Facility bear interest, at our option, at a base rate plus a spread of 0.000% to 0.375%, or an adjusted term Secured Overnight Financing Rate plus a spread of 1.000% to 1.375%, in each case with such spread being determined based on our leverage ratio. We are obligated to pay an ongoing commitment fee on undrawn amounts at a rate of 0.090% to 0.150%, depending on our leverage ratio. The interest rates and commitment fees are also subject to upward and downward adjustments based on our progress towards the achievement of certain sustainability goals. As of April 30, 2026, there were no amounts outstanding and we were in compliance with all covenants under the Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Subsequent Events	9 Months Ended
Subsequent Events	Apr. 30, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Portkey, Inc. On May 29, 2026, we completed the acquisition of Portkey. This acquisition will be accounted for as a business combination in the fourth quarter of fiscal 2026.

Acquisition (Purchase Price Allocation) (Details) - USD ($) $ in Millions	Apr. 30, 2026	Apr. 14, 2026	Feb. 11, 2026	Jan. 29, 2026	Jul. 31, 2025
Business Combination
Goodwill	$ 21,902				$ 4,567
Chronosphere, Inc.
Business Combination
Goodwill				$ 2,364
Identified intangible assets				565
Cash and cash equivalents				57
Net liabilities assumed				(35)
Total				$ 2,951
CyberArk Software Ltd.
Business Combination
Goodwill			$ 14,802
Identified intangible assets			6,279
Cash and cash equivalents			743
Accounts receivable, net of allowance for credit losses			312
Short-term and long-term investments			1,217
Net assets acquired			61
Convertible senior notes			(1,303)
Deferred revenue			(776)
Deferred tax liabilities			(274)
Total			$ 21,061
Koi Security Ltd
Business Combination
Goodwill		$ 169
Identified intangible assets		35
Cash and cash equivalents		20
Net assets acquired		7
Total		$ 231

Net Income (Loss) Per Share

9 Months Ended

Apr. 30, 2026

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by basic weighted-average shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by diluted weighted-average shares outstanding during the period giving effect to all potentially dilutive securities to the extent they are dilutive. We compute the dilutive effect of shares issuable upon conversion of our convertible senior notes using the if-converted method, and the dilutive effect of warrants related to the issuance of convertible senior notes and equity awards under our employee equity incentive plans using the treasury stock method.

The following table presents the computation of basic and diluted net income (loss) per share of common stock (in millions, except per share data):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Net income (loss)	$	(177)	$	262	$	589	$	880

Weighted-average shares used to compute net income (loss) per share, basic	801		665		729		659
Weighted-average effect of potentially dilutive securities:
Convertible senior notes	—		6		—		9
Warrants related to the issuance of convertible senior notes	—		25		8		25
Employee equity incentive plans	—		11		7		15
Weighted-average shares used to compute net income (loss) per share, diluted	801		707		744		708

Net income (loss) per share, basic	$	(0.22)	$	0.39	$	0.81	$	1.33
Net income (loss) per share, diluted	$	(0.22)	$	0.37	$	0.79	$	1.24


	Three Months Ended April 30,		Nine Months Ended April 30,
	2026	2025	2026	2025


Employee equity incentive plans	30	4	6	5

Our 2030 Notes and capped calls were also excluded from the calculation of diluted net income (loss) per share as the effect would have been antidilutive.

Cash Equivalents and Investments (Available-for-Sale Securities, Contractual Maturities) (Details) $ in Millions	Apr. 30, 2026 USD ($)
Amortized Cost
Due within one year	$ 1,073
Due between one and three years	1,559
Due between three and five years	2,064
Due between five and ten years	102
Due after ten years	145
Amortized Cost	4,943
Fair Value
Due within one year	1,075
Due between one and three years	1,570
Due between three and five years	2,064
Due between five and ten years	102
Due after ten years	145
Fair Value	$ 4,956

Debt (Convertible Senior Notes, Note Hedges, and Warrants) (Details) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	9 Months Ended
	Jun. 30, 2020 USD ($) day $ / shares shares	Apr. 30, 2026 USD ($) shares	Apr. 30, 2025 USD ($)
Debt Instrument, Redemption
Repayments of debt		$ 0	$ 583
Threshold trading days (in days) \| day	60
2025 Warrants
Debt Instrument, Redemption
Initial number of shares (in shares) \| shares	40
Strike price per share (in usd per share) \| $ / shares	$ 68.08
Aggregate proceeds	$ 203
Stock issued during period, settlement of warrants (in shares) \| shares		27
Settlement of warrants		$ 5,600
2025 Notes
Debt Instrument, Redemption
Aggregate principal amount	$ 2,000
Contractual interest rate (in percentage)	0.375%
Repayments of debt	$ 371

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common stock	Replacement Equity Awards	Common stock	Common stock Common stock	Common stock Replacement Equity Awards	Additonal Paid-In-Capital	Additonal Paid-In-Capital Common stock	Additonal Paid-In-Capital Replacement Equity Awards	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)
Common stock, beginning balance (in shares) at Jul. 31, 2024				650.0
Beginning balance at Jul. 31, 2024	$ 5,169						$ 3,821			$ (2)	$ 1,350
Increase (decrease) in stockholders' equity
Net income (loss)	880										880
Other comprehensive (loss) income	50									50
Issuance of common stock in connection with employee equity incentive plans (in shares)				16.0
Issuance of common stock in connection with employee equity incentive plans	360						360
Taxes paid related to net share settlement of equity awards	(183)						(183)
Share-based compensation for equity-based awards	954						954
Settlement of convertible notes (in shares)				8.0
Settlement of note hedges (in shares)				(8.0)
Common stock, ending balance (in shares) at Apr. 30, 2025				666.0
Ending balance at Apr. 30, 2025	7,230						4,952			48	2,230
Common stock, beginning balance (in shares) at Jan. 31, 2025				660.0
Beginning balance at Jan. 31, 2025	6,375						4,421			(14)	1,968
Increase (decrease) in stockholders' equity
Net income (loss)	262										262
Other comprehensive (loss) income	62									62
Issuance of common stock in connection with employee equity incentive plans (in shares)				6.0
Issuance of common stock in connection with employee equity incentive plans	202						202
Taxes paid related to net share settlement of equity awards	(5)						(5)
Share-based compensation for equity-based awards	334						334
Settlement of convertible notes (in shares)				2.0
Settlement of note hedges (in shares)				(2.0)
Common stock, ending balance (in shares) at Apr. 30, 2025				666.0
Ending balance at Apr. 30, 2025	$ 7,230						4,952			48	2,230
Common stock, beginning balance (in shares) at Jul. 31, 2025	668.0			668.0
Beginning balance at Jul. 31, 2025	$ 7,824						5,292			48	2,484
Increase (decrease) in stockholders' equity
Net income (loss)	589										589
Other comprehensive (loss) income	(61)									(61)
Issuance of common stock in connection with employee equity incentive plans (in shares)				11.0
Issuance of common stock in connection with employee equity incentive plans	264						264
Taxes paid related to net share settlement of equity awards	(125)						(125)
Share-based compensation for equity-based awards	1,315						1,315
Repurchase and retirement of common stock (in shares)				(7.0)
Repurchase and retirement of common stock	$ (1,000)						(1,000)
Issuance of common stock in connection with a business acquisition (in shares)					112.0	2.0
Issuance of common stock in connection with a business acquisition		$ 18,488	$ 374					$ 18,488	$ 374
Settlement of warrants (in shares)				27.0
Common stock, ending balance (in shares) at Apr. 30, 2026	813.0			813.0
Ending balance at Apr. 30, 2026	$ 27,668						24,608			(13)	3,073
Common stock, beginning balance (in shares) at Jan. 31, 2026				703.0
Beginning balance at Jan. 31, 2026	9,393						6,097			46	3,250
Increase (decrease) in stockholders' equity
Net income (loss)	(177)										(177)
Other comprehensive (loss) income	(59)									(59)
Issuance of common stock in connection with employee equity incentive plans (in shares)				5.0
Issuance of common stock in connection with employee equity incentive plans	126						126
Taxes paid related to net share settlement of equity awards	(16)						(16)
Share-based compensation for equity-based awards	648						648
Repurchase and retirement of common stock (in shares)				(7.0)
Repurchase and retirement of common stock	$ (1,000)						(1,000)
Issuance of common stock in connection with a business acquisition (in shares)					112.0
Issuance of common stock in connection with a business acquisition		$ 18,488	$ 265					$ 18,488	$ 265
Common stock, ending balance (in shares) at Apr. 30, 2026	813.0			813.0
Ending balance at Apr. 30, 2026	$ 27,668						$ 24,608			$ (13)	$ 3,073

Financing Receivables (Short and Long-term Financing Receivables) (Details) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Receivables [Abstract]
Short-term financing receivables, gross	$ 661	$ 806
Unearned income	(65)	(86)
Allowance for credit losses	(5)	(5)
Short-term financing receivables, net	591	715
Long-term financing receivables, gross	834	1,079
Unearned income	(47)	(69)
Allowance for credit losses	(8)	(8)
Long-term financing receivables, net	$ 779	$ 1,002

Leases (Details) $ in Millions	1 Months Ended
Leases (Details) $ in Millions	Apr. 30, 2026 USD ($) amendment
Leases [Abstract]
Number of lease amendments \| amendment	3
Operating lease, term of contract (in years)	12 years
Rental payments	$ 469
Right-of-use assets in exchange for lease liabilities	$ 262

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Apr. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Leases	9 Months Ended
Leases	Apr. 30, 2026
Leases [Abstract]
Leases	Leases In April 2026, we entered into three lease amendments to extend the lease terms of our current corporate headquarters in Santa Clara, California for a period of twelve years through July 2040. The leases contain rent holiday periods, scheduled rent increases, lease incentives, and renewal options which allow the lease terms to be extended through July 2052. Lease payments under the three lease amendments, net of lease incentives such as rent holidays and tenant improvement allowances, are approximately $469 million over the extended lease term through July 2040. The amendments resulted in an increase of $262 million in our right-of-use assets in exchange for new operating lease liabilities.

Commitments and Contingencies (Purchase Commitments) (Details) $ in Millions	Apr. 30, 2026 USD ($)
Aggregate Future Purchase Commitments
Total	$ 8,529
Remaining 2026	136
2027	710
2028	1,316
2029	1,362
2030	1,407
2031 and Thereafter	3,598
Cloud
Aggregate Future Purchase Commitments
Total	8,092
Remaining 2026	0
2027	449
2028	1,295
2029	1,352
2030	1,398
2031 and Thereafter	3,598
Manufacturing
Aggregate Future Purchase Commitments
Total	246
Remaining 2026	94
2027	152
2028	0
2029	0
2030	0
2031 and Thereafter	0
Other
Aggregate Future Purchase Commitments
Total	191
Remaining 2026	42
2027	109
2028	21
2029	10
2030	9
2031 and Thereafter	$ 0

Fair Value Measurements (Reconciliation of Our Contingent Consideration Liability) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025	Jan. 31, 2026	Jul. 31, 2025	Jan. 31, 2025	Jul. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration liability at the end of the period	$ 240	$ 669	$ 240	$ 669	$ 369	$ 514	$ 665	$ 0
Initial valuation on the acquisition date	0	0	0	649
Change in fair value	(110)	4	(120)	20
Payments	$ (19)	$ 0	$ (154)	$ 0

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Apr. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Palo Alto Networks, Inc. (the “Company,” “we,” “us,” or “our”), headquartered in Santa Clara, California, was incorporated in March 2005 under the laws of the State of Delaware and commenced operations in April 2005. Our cybersecurity platforms and services help enterprises, organizations, service providers, and government entities to secure their users, networks, clouds, endpoints, and identities by delivering comprehensive cybersecurity backed by artificial intelligence and automation. On February 11, 2026, we acquired CyberArk Software Ltd. (“CyberArk”), an identity security company, forming our next-generation identity security platform. The condensed consolidated financial statements include the financial results of CyberArk prospectively from the date of acquisition. Refer to Note 7. Acquisitions for more information regarding our acquisition of CyberArk. Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), consistent in all material respects with those applied in our Annual Report on Form 10-K for the fiscal year ended July 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on August 29, 2025. The condensed consolidated financial statements include our accounts and our wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements are unaudited but include all adjustments of a normal recurring nature necessary for a fair presentation of our quarterly results. Our condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the fiscal year ended July 31, 2025. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and the accompanying notes. We evaluate our estimates on an ongoing basis. Management estimates include, but are not limited to, the standalone selling price for our products and services, share-based compensation, fair value of assets acquired and liabilities assumed in business combinations, fair value of contingent consideration liability, fair value of convertible senior notes and capped calls, the assessment of recoverability of our intangibles and goodwill, valuation allowance against deferred tax assets, valuation of inventory and manufacturing partner and supplier liabilities, deferred contract cost benefit period, and loss contingencies. We base our estimates on assumptions, both historical and forward looking, that we believe are reasonable. Actual results could differ materially from those estimates due to risks and uncertainties. Summary of Significant Accounting Policies There have been no material changes to our significant accounting policies as of and for the nine months ended April 30, 2026, as compared to the significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended July 31, 2025, except for the update to the disclosure of our accounting policies as described below resulting from our recent acquisition of CyberArk. Refer to Note 7. Acquisitions and Note 9. Debt for additional information. Convertible Senior Notes and Capped Calls In connection with the CyberArk acquisition, we acquired CyberArk’s convertible senior notes and assumed certain capped call transactions CyberArk had previously entered into relating to the issuance of these convertible senior notes. The capped calls are expected to reduce the potential dilution to our common stock upon conversion of the convertible senior notes and/or offset our cash payments in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap. For convertible senior notes acquired from CyberArk, we have elected fair value option to simplify the accounting for embedded features that would otherwise require bifurcation from the debt-host and recognition as a separate derivative liability. These convertible senior notes are measured at fair value on a recurring basis through maturity or settlement. Changes in fair value included in earnings are recorded in other income, net on our condensed consolidated statements of operations, and changes in fair value attributable to instrument-specific credit risk are included in accumulated other comprehensive income (loss) (“AOCI”) in stockholders’ equity. We account for capped calls as derivative assets, measured at fair value on a recurring basis through maturity or settlement. Capped calls are recorded in other assets on our condensed consolidated balance sheets. Changes in fair value are recorded in other income, net on our condensed consolidated statements of operations. Recently Issued Accounting Pronouncements Income Tax Disclosures In December 2023, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance that requires consistent categories and greater disaggregation of information in the effective tax rate reconciliation and additional disclosures of income taxes paid by jurisdiction. The standard is effective for our annual periods beginning in fiscal 2026 and could be applied either prospectively or retrospectively. We expect the adoption of this standard will result in disclosure of additional jurisdictional level tax information in our consolidated financial statements. Expense Disaggregation Disclosures In November 2024, the FASB issued authoritative guidance that expands annual and interim disclosure of specified information about certain costs and expenses in the notes to financial statements. The standard is effective for our annual periods beginning in fiscal 2028 and interim periods beginning in the first quarter of fiscal 2029, and can be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our disclosures in the consolidated financial statements. Measurement of Credit Losses for Accounts Receivable and Contract Assets In July 2025, the FASB issued authoritative guidance that provides a practical expedient for estimating expected credit losses on accounts receivable and contract assets. The standard is effective for our annual and interim periods beginning in the first quarter of fiscal 2027 and will be applied on a prospective basis. Early adoption is permitted. We do not expect the adoption of this standard will have a material impact on our consolidated financial statements. Accounting for Internal-Use Software In September 2025, the FASB issued authoritative guidance that modernizes the accounting for internal-use software by eliminating project stage-based capitalization and clarifying the requirements, including probable-to-complete threshold, to commence the capitalization of software development costs. The standard is effective for our annual and interim periods beginning in the first quarter of fiscal 2029 and could be applied either prospectively or retrospectively. Early adoption is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements. Hedge Accounting Improvements In November 2025, the FASB issued authoritative guidance that clarifies and improves the existing hedge accounting guidance to better reflect the economics of an entity’s risk management activities. The standard is effective for our annual and interim periods beginning in the first quarter of fiscal 2028 and will be applied on a prospective basis. Early adoption is permitted. We are currently evaluating the impact of this standard on our consolidated financial statements.

Goodwill, Intangible Assets and Other Long-Lived Assets (Additional Information) (Details) $ in Millions	9 Months Ended
	Apr. 30, 2026 USD ($) a	Apr. 30, 2025 USD ($)
Finite-Lived Intangible Assets
Payments to assets including certain intellectual property, customer relationships, and customer contracts	$ 337	$ 160
Santa Clara, California
Finite-Lived Intangible Assets
Number of acres of land to be purchased \| a	14.5
Payments to assets including certain intellectual property, customer relationships, and customer contracts	$ 91

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Current assets:
Allowance for doubtful accounts	$ 6	$ 10
Stockholders’ equity:
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	813,000,000	668,000,000
Common stock, shares outstanding (in shares)	813,000,000	668,000,000

Cash Equivalents and Investments (Available-for-Sale Securities) (Details) - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Debt Securities, Available-for-sale
Amortized Cost	$ 4,943
Fair Value	4,956
Cash equivalents:
Debt Securities, Available-for-sale
Amortized Cost	612	$ 169
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	612	169
Cash equivalents: \| Commercial paper
Debt Securities, Available-for-sale
Amortized Cost	535	169
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	535	169
Cash equivalents: \| Corporate debt securities
Debt Securities, Available-for-sale
Amortized Cost	2
Unrealized Gains	0
Unrealized Losses	0
Fair Value	2
Cash equivalents: \| U.S. government and agency securities
Debt Securities, Available-for-sale
Amortized Cost	75
Unrealized Gains	0
Unrealized Losses	0
Fair Value	75
Investments:
Debt Securities, Available-for-sale
Amortized Cost	4,331	6,130
Unrealized Gains	24	56
Unrealized Losses	(11)	(1)
Fair Value	4,344	6,185
Investments: \| Corporate debt securities
Debt Securities, Available-for-sale
Amortized Cost	3,521	4,588
Unrealized Gains	20	47
Unrealized Losses	(10)	(1)
Fair Value	3,531	4,634
Investments: \| U.S. government and agency securities
Debt Securities, Available-for-sale
Amortized Cost	66	170
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	66	170
Investments: \| Commercial paper
Debt Securities, Available-for-sale
Amortized Cost	10	15
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	10	15
Investments: \| Non-U.S. government and agency securities
Debt Securities, Available-for-sale
Amortized Cost		29
Unrealized Gains		0
Unrealized Losses		0
Fair Value		29
Investments: \| Asset-backed securities
Debt Securities, Available-for-sale
Amortized Cost	734	1,328
Unrealized Gains	4	9
Unrealized Losses	(1)	0
Fair Value	$ 737	$ 1,337

Commitments and Contingencies

9 Months Ended

Apr. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Purchase Commitments

We have entered into various non-cancelable agreements with cloud hosting service providers, under which we are committed to minimum or fixed purchases of certain cloud hosting services. In addition, in order to reduce manufacturing lead times and plan for adequate supply, we have entered into agreements with manufacturing partners and component suppliers to procure inventory based on our demand forecasts. Other purchase obligations include non-cancellable subscription agreements and other commitments in the normal course of business. The following table presents details of the aggregate future non-cancelable purchase commitments under these agreements as of April 30, 2026 (in millions):


			Fiscal years ending July 31,
	Total		Remaining 2026		2027		2028		2029		2030		2031 and Thereafter
Cloud	$	8,092	$	—	$	449	$	1,295	$	1,352	$	1,398	$	3,598
Manufacturing	246		94		152		—		—		—		—
Other	191		42		109		21		10		9		—
Total	$	8,529	$	136	$	710	$	1,316	$	1,362	$	1,407	$	3,598

Additionally, we have a $92 million minimum purchase commitment with a cloud hosting service provider through September 2027 with no specified annual commitments.

Litigation

We are subject to legal proceedings, claims, tax matters, and litigation arising in the ordinary course of business, including, for instance, intellectual property and patent litigation. We accrue for contingencies when we believe that a loss is probable and that we can reasonably estimate the amount of any such loss.

Legal matters could include speculative, substantial, or indeterminate monetary amounts. Significant judgment is required to determine both the likelihood of there being a loss and the estimated amount of a loss related to such matters, and we may be unable to estimate the reasonably possible loss or range of loss. The outcomes of outstanding legal matters are inherently unpredictable, and could, either individually or in aggregate, have a material adverse effect on us and our results of operations. To the extent there is a reasonable possibility that a loss exceeding any amounts already recognized may be incurred, we will either disclose the estimated additional loss or state that such an estimate cannot be made.

The following matters arose in the ordinary course of business.

Centripetal Networks, Inc. v. Palo Alto Networks

On March 12, 2021, Centripetal Networks, Inc., filed a lawsuit against us in the United States District Court for the Eastern District of Virginia. The lawsuit alleges that our products infringe multiple Centripetal patents. We successfully challenged certain of these patents, which were found unpatentable by the U.S. Patent and Trademark Office (“PTO”). The case went to jury trial on January 22, 2024, on four patents. On January 31, 2024, the jury returned a verdict of non-willful infringement with a lump sum amount of $152 million, plus statutory interest. After post-trial motions, a judgment was issued on October 3, 2024 affirming infringement on three patents, reversing infringement on the fourth patent, and subsequently, reducing the damages amount to $114 million. We posted a surety bond that was agreed upon by the parties and approved by the court. This bond prevents execution of the judgment while appeals are pending. In addition, Centripetal filed infringement contentions on certain of their patents in the European Patent Office and Unified Patent Court in Germany, to which we filed appropriate legal challenges. Those matters are still pending.

As of April 30, 2026 and July 31, 2025, we accrued $150 million and $146 million based on the judgment and estimated interest, which is recorded in other long-term liabilities on our condensed consolidated balance sheets. The corresponding interest charge was $1 million and $4 million for the three and nine months ended April 30, 2026, respectively. We recorded a charge of $2 million and a release of $40 million for the three and nine months ended April 30, 2025, respectively. These amounts are included in general and administrative expense on our condensed consolidated statements of operations.

Finjan, Inc. v. Palo Alto Networks

On November 4, 2014, Finjan, Inc., filed a lawsuit against us in the United States District Court for the Northern District of California. The lawsuit alleges that our products infringe multiple Finjan patents. The complaint requests injunctive relief, monetary damages, and attorneys’ fees. On March 21, 2025, the judge issued an order granting summary judgment of non-infringement on all remaining patents at issue. Plaintiff filed a Notice of Appeal on April 21, 2025. We are unable, at this time, to reasonably estimate a possible loss or potential range of loss, if any.

Eire OG Innovations. v. Palo Alto Networks

On April 3, 2024, Eire OG Innovations filed a lawsuit against us in the United States District Court for the Eastern District of Texas asserting infringement of multiple patents, certain of which were subsequently dismissed. The parties have resolved all pending matters between them as of December 2025. The amount paid by us to resolve these matters was not material.

Acquisition - Pro Forma Information (Details) - Chronosphere, Inc. - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Business Combination
Total revenue	$ 3,043	$ 2,621	$ 8,917	$ 7,598
Net income (loss)	$ 8	$ (2)	$ 134	$ (178)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue

9 Months Ended

Apr. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The following table presents revenue by geographic theater (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Revenue:
Americas
United States	$	1,854	$	1,425	$	4,968	$	4,169
Other Americas	164		105		403		305
Total Americas	2,018		1,530		5,371		4,474
Europe, the Middle East, and Africa (“EMEA”)	633		480		1,714		1,402
Asia Pacific and Japan (“APAC”)	351		279		985		809
Total revenue	$	3,002	$	2,289	$	8,070	$	6,685

The following table presents revenue for groups of similar products and services (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Revenue:
Product	$	594	$	453	$	1,542	$	1,228
Subscription and support
Subscription	1,632		1,234		4,400		3,659
Support	776		602		2,128		1,798
Total subscription and support	2,408		1,836		6,528		5,457
Total revenue	$	3,002	$	2,289	$	8,070	$	6,685

Deferred Revenue

During the nine months ended April 30, 2026 and 2025, we recognized approximately $4.9 billion and $4.4 billion of revenue pertaining to amounts that were deferred as of July 31, 2025 and 2024, respectively.

Remaining Performance Obligations

Remaining performance obligations were $18.4 billion as of April 30, 2026, of which we expect to recognize as revenue approximately $8.3 billion over the next 12 months and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Subparagraph (e)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Fair Value Measurements

9 Months Ended

Apr. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table presents our financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026								July 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	944	$	—	$	—	$	944	$	1,206	$	—	$	—	$	1,206

Commercial paper	—		535		—		535		—		169		—		169
Corporate debt securities	—		2		—		2		—		—		—		—
U.S. government and agency securities	—		75		—		75		—		—		—		—

Total cash equivalents	944		612		—		1,556		1,206		169		—		1,375
Short-term investments:
Certificates of deposit	—		—		—		—		—		—		—		—
Commercial paper	—		10		—		10		—		15		—		15
Corporate debt securities	—		413		—		413		—		584		—		584
U.S. government and agency securities	—		27		—		27		—		6		—		6
Non-U.S. government and agency securities	—		—		—		—		—		3		—		3
Asset-backed securities	—		13		—		13		—		22		—		22
Total short-term investments	—		463		—		463		—		630		—		630


	April 30, 2026								July 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Long-term investments:

Corporate debt securities	—		3,118		—		3,118		—		4,050		—		4,050
U.S. government and agency securities	—		39		—		39		—		164		—		164
Non-U.S. government and agency securities	—		—		—		—		—		26		—		26
Asset-backed securities	—		724		—		724		—		1,315		—		1,315
Total long-term investments	—		3,881		—		3,881		—		5,555		—		5,555
Prepaid expenses and other current assets:
Foreign currency forward contracts	—		64		—		64		—		58		—		58
Total prepaid expenses and other current assets	—		64		—		64		—		58		—		58
Other assets:
Foreign currency forward contracts	—		1		—		1		—		3		—		3
Capped calls related to convertible senior notes	—		94		—		94		—		—		—		—
Total other assets	—		95		—		95		—		3		—		3
Total assets measured at fair value	$	944	$	5,115	$	—	$	6,059	$	1,206	$	6,415	$	—	$	7,621

Short-term convertible senior notes	$	—	$	160	$	—	$	160	$	—	$	—	$	—	$	—
Accrued and other liabilities:
Foreign currency forward contracts	—		5		—		5		—		4		—		4
Contingent consideration	—		—		124		124		—		—		276		276
Total accrued and other liabilities	—		5		124		129		—		4		276		280
Long-term convertible senior notes	—		1,192		—		1,192		—		—		—		—
Other long-term liabilities:
Foreign currency forward contracts	—		1		—		1		—		—		—		—
Contingent consideration	—		—		116		116		—		—		238		238
Total other long-term liabilities	—		1		116		117		—		—		238		238
Total liabilities measured at fair value	$	—	$	1,358	$	240	$	1,598	$	—	$	4	$	514	$	518

As part of our acquisition of certain QRadar assets from International Business Machines Corporation (“IBM”) on August 31, 2024, we agreed to make post-closing payments to IBM contingent upon customers entering into qualified new transactions through June 30, 2028. Payments related to the contingent consideration liability commenced in the fiscal quarter ended October 2025 and are expected to continue through the fiscal quarter ending October 2028. The estimated range of undiscounted contingent consideration is between $0.3 billion and $0.5 billion.

The fair value of our contingent consideration liability is estimated using a discounted cash flow valuation technique. We consider the fair value of our contingent consideration liability to be a Level 3 measurement as we use unobservable inputs in determining discounted cash flows to estimate the fair value. The significant unobservable inputs include an estimate of future cash payments related to customers entering into qualified new transactions as well as a risk-adjusted discount rate used to present value the expected cash flows. A significant change in any of these assumptions could have a material impact to the fair value of our contingent consideration liability.

During the three months ended April 30, 2026, we reduced our estimate of future cash payments based on our quarterly assessment of assumptions, including the magnitude and likelihood of customers entering into qualified new transactions, the competitive industry environment, and current market conditions.

The following table presents a reconciliation of our contingent consideration liability (in millions):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Contingent consideration liability at the beginning of the period	$	369	$	665	$	514	$	—
Initial valuation on the acquisition date	—		—		—		649
Change in fair value	(110)		4		(120)		20
Payments	(19)		—		(154)		—
Contingent consideration liability at the end of the period	$	240	$	669	$	240	$	669

The total estimated fair value of our financing receivables approximates their carrying amounts as of April 30, 2026 and July 31, 2025. We consider the fair value of our financing receivables to be a Level 3 measurement as we use unobservable inputs in determining discounted cash flows to estimate the fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Acquisition (Tables)

9 Months Ended

Apr. 30, 2026

Business Combination [Abstract]

Schedule of Purchase Consideration

The total purchase consideration for the acquisition of Chronosphere was $3.0 billion, which consisted of the following (in millions):


	Amount
Cash	$	2,842
Fair value of replacement awards	109
Total	$	2,951

The total purchase consideration for the acquisition of CyberArk was $21.1 billion, which consisted of the following (in millions):


	Amount
Cash	$	2,308
Common stock (112 million shares)	18,488
Fair value of replacement awards	265
Total	$	21,061

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed


	Amount
Goodwill	$	2,364
Identified intangible assets	565
Cash	57
Net liabilities assumed	(35)
Total	$	2,951


	Amount
Goodwill	$	14,802
Identified intangible assets	6,279
Cash and cash equivalents	743
Accounts receivable, net of allowance for credit losses	312
Short-term and long-term investments	1,217
Net assets acquired	61
Convertible senior notes	(1,303)
Deferred revenue	(776)
Deferred tax liabilities	(274)
Total	$	21,061


	Amount
Goodwill	$	169
Identified intangible assets	35
Cash and restricted cash	20
Net assets acquired	7
Total	$	231

Schedule of Finite-lived Intangible Assets Acquired as Part of Business Combination

The following table presents details of the identified intangible asset acquired (in millions, except years):


	Fair Value		Estimated Useful Life
Developed technology	$	300	5 years
Customer relationships	255		6 years - 10 years
Trade name and trademarks	10		1 year
Total	$	565

The following table presents details of the identified intangible asset acquired (in millions, except years):


	Fair Value		Estimated Useful Life
Developed technology	$	2,537	5 years - 7 years
Platform renewals	3,500		12 years - 14 years
Customer contracts	219		2 years
Trade name	23		1 year
Total	$	6,279

The following table presents details of the identified intangible asset acquired (in millions, except years):


	Fair Value		Estimated Useful Life
Developed technology	$	35	5 years

Schedule of Restructuring and Related Costs

The following table summarizes employee severance charges related to the CyberArk acquisition (in millions):


	Three and Nine Months Ended April 30, 2026
	Cash Compensation		Share-based Compensation		Total
Cost of subscription and support revenue	$	2	$	—	$	2
Research and development	1		—		1
Sales and marketing	13		16		29
General and administrative	8		1		9
Total	$	24	$	17	$	41

Schedule of Business Combination, Pro Forma Information


	Three Months Ended April 30,				Nine Months Ended April 30,
	2026		2025		2026		2025
Total revenue	$	3,043	$	2,621	$	8,917	$	7,598
Net income (loss)	$	8	$	(2)	$	134	$	(178)

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Billions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025	Mar. 10, 2026	Feb. 28, 2019
Equity [Abstract]
Share repurchase, authorized amount	$ 4.1		$ 4.1		$ 5.1	$ 1.0
Share repurchase, authorized additional amount					$ 1.0
Number of shares repurchased (in shares)	7	0	7	0
Aggregate purchase price	$ 1.0		$ 1.0
Weighted average price per share (in usd per share)	$ 147.70		$ 147.70
Stock repurchase, remaining authorized repurchase amount	$ 1.0		$ 1.0

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Other Income, Net (Details) - USD ($) $ in Millions	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025
Other Income and Expenses [Abstract]
Interest income	$ 71	$ 93	$ 285	$ 266
Foreign currency exchange gains (losses), net	(14)	(8)	(41)	(14)
Change in fair value of convertible senior notes		0	(37)	0
Change in fair value of capped calls	(1)	0	(1)	0
Other, net	8	8	76	9
Total other income, net	$ 27	$ 93	$ 282	$ 261

Cash Equivalents and Investments (Marketable Equity Securities) (Narrative) (Details) - Marketable equity securities - Money market funds - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 30, 2026	Apr. 30, 2025	Apr. 30, 2026	Apr. 30, 2025	Jul. 31, 2025
Debt and Equity Securities, FV-NI
Securities unrealized gains (losses) recognized	$ 0	$ 0	$ 0	$ 0
Cash and cash equivalents
Debt and Equity Securities, FV-NI
Carrying value	$ 944		$ 944		$ 1,200

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Apr. 30, 2026	Jul. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,364	$ 2,269
Short-term investments	747	635
Accounts receivable, net of allowance for credit losses of $6 and $10 as of April 30, 2026 and July 31, 2025, respectively	2,852	2,965
Short-term financing receivables, net	591	715
Short-term deferred contract costs	454	419
Prepaid expenses and other current assets	705	520
Total current assets	7,713	7,523
Property and equipment, net	506	387
Operating lease right-of-use assets	678	347
Long-term investments	3,881	5,555
Long-term financing receivables, net	779	1,002
Long-term deferred contract costs	551	586
Goodwill	21,902	4,567
Intangible assets, net	7,283	763
Deferred tax assets	2,380	2,424
Other assets	593	422
Total assets	46,266	23,576
Current liabilities:
Accounts payable	293	232
Accrued compensation	680	608
Accrued and other liabilities	760	846
Deferred revenue	7,113	6,302
Short-term convertible senior notes	160	0
Total current liabilities	9,006	7,988
Long-term convertible senior notes	1,192	0
Long-term deferred revenue	6,492	6,450
Deferred tax liabilities	259	89
Long-term operating lease liabilities	719	338
Other long-term liabilities	930	887
Total liabilities	18,598	15,752
Commitments and contingencies (Note $11)
Stockholders’ equity:
Preferred stock; $0.0001 par value; 100 shares authorized; none issued and outstanding as of April 30, 2026 and July 31, 2025	0	0
Common stock and additional paid-in capital; $0.0001 par value; 2,000 shares authorized; 813 and 668 shares issued and outstanding as of April 30, 2026 and July 31, 2025, respectively	24,608	5,292
Accumulated other comprehensive income (loss)	(13)	48
Retained earnings	3,073	2,484
Total stockholders’ equity	27,668	7,824
Total liabilities and stockholders’ equity	$ 46,266	$ 23,576

Acquisitions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended	9 Months Ended
	Apr. 30, 2026	Apr. 14, 2026	Feb. 11, 2026	Jan. 29, 2026	Apr. 30, 2026	Apr. 30, 2026
Chronosphere, Inc.
Business Combination
Fair value of consideration				$ 2,951
Total value of shares issued				$ 525
Stock issued (in shares)				2,000,000
Cash				$ 2,842
Chronosphere, Inc. \| Minimum
Business Combination
Award vesting period				2 years
Chronosphere, Inc. \| Maximum
Business Combination
Award vesting period				3 years
CyberArk Software Ltd.
Business Combination
Fair value of consideration			$ 21,061
Stock issued (in shares)			2.2005
Business combination, equity issuable (in usd per share)			$ 45.00
Acquisition related expense					$ 41	$ 56
Expected cost			$ 59
Payments for restructuring					12	12
Restructuring reserve	$ 12				12	12
Cash			$ 2,308
CyberArk Software Ltd. \| Common stock
Business Combination
Stock issued (in shares)			112,000,000
CyberArk Software Ltd. \| Replacement Equity Awards
Business Combination
Total value of shares issued			$ 945
Koi Security Ltd
Business Combination
Fair value of consideration		$ 231
Total value of shares issued		$ 61
Stock issued (in shares)		300,000
Koi Security Ltd \| Maximum
Business Combination
Award vesting period		3 years
Portkey, Inc
Business Combination
Cash	$ 140
Chronosphere And CyberArk
Business Combination
Operations revenue					388	391
Operations loss					$ (523)	$ (524)

Financing Receivables (Tables)

9 Months Ended

Apr. 30, 2026

Receivables [Abstract]

Schedule of Short and Long-term Financing Receivables

The following table summarizes our short-term and long-term financing receivables as of April 30, 2026 and July 31, 2025 (in millions):


	April 30, 2026		July 31, 2025
Short-term financing receivables, gross	$	661	$	806
Unearned income	(65)		(86)
Allowance for credit losses	(5)		(5)
Short-term financing receivables, net	$	591	$	715
Long-term financing receivables, gross	$	834	$	1,079
Unearned income	(47)		(69)
Allowance for credit losses	(8)		(8)
Long-term financing receivables, net	$	779	$	1,002

Schedule of Financing Receivable Credit Quality Indicators

The following table presents amortized cost basis of our financing receivables categorized by internal risk rating and year of origination (in millions):


Internal Risk Rating(1)	April 30, 2026												July 31, 2025
	Fiscal Year of Origination												Fiscal Year of Origination
	2026		2025		2024		2023		2022		Total		2025		2024		2023		2022		2021		Total
1 to 4	$	95	$	223	$	553	$	126	$	5	$	1,002	$	261	$	732	$	242	$	9	$	18	$	1,262
5 to 6	109		104		120		10		—		343		174		226		50		—		—		450
7 to 10	—		25		9		4		—		38		—		4		14		—		—		18
Amortized cost basis of financing receivables	$	204	$	352	$	682	$	140	$	5	$	1,383	$	435	$	962	$	306	$	9	$	18	$	1,730

(1)Internal risk ratings are categorized as 1 through 10, with the lowest rating representing the highest quality.

Commitments and Contingencies (Narrative) (Details) $ in Millions			3 Months Ended		9 Months Ended
	Oct. 03, 2024 USD ($) patent	Jan. 22, 2024 patent	Apr. 30, 2026 USD ($)	Apr. 30, 2025 USD ($)	Apr. 30, 2026 USD ($)	Apr. 30, 2025 USD ($)	Jul. 31, 2025 USD ($)	Jan. 31, 2024 USD ($)
Long-Term Purchase Commitment
Patents infringed \| patent	3	4
Verdict	$ 114							$ 152
Accrued amount for verdict			$ 150		$ 150		$ 146
Increase in estimate			$ 1	$ 2	4	$ (40)
Service Provider
Long-Term Purchase Commitment
Minimum purchase commitment					$ 92

Commitments and Contingencies (Tables)

9 Months Ended

Apr. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Non-cancelable Purchase Commitments

The following table presents details of the aggregate future non-cancelable purchase commitments under these agreements as of April 30, 2026 (in millions):


			Fiscal years ending July 31,
	Total		Remaining 2026		2027		2028		2029		2030		2031 and Thereafter
Cloud	$	8,092	$	—	$	449	$	1,295	$	1,352	$	1,398	$	3,598
Manufacturing	246		94		152		—		—		—		—
Other	191		42		109		21		10		9		—
Total	$	8,529	$	136	$	710	$	1,316	$	1,362	$	1,407	$	3,598