Can Platformization Boost Palo Alto Networks' Long-Term ARR Growth?

Key Takeaways PANW's NGS ARR rose 33% Y/Y to $6.33B in Q2 FY2026 on rising platform adoption.Palo Alto Networks added 110 platform customers, reaching about 1,550 total.PANW targets $20B in NGS ARR by fiscal 2030 as large enterprise deals expand.Palo Alto Networks (PANW) is focusing on its platformization strategy, which involves getting its customers to adopt multiple PANW products spanning across network, cloud and endpoint security, under a unified platform approach. In the second quarter of fiscal 2026, ...