Gross Retention excludes expansion - it shows pure churn / contraction loss. The gap between NRR and GRR is the expansion lift.
Peak NRR of 120.0% in FY2025-Q4. Latest is 119.0% - that's -1.0pp from peak.
Palo Alto Networks is above the Security Public median by +0.0pp (cell median: 119%)
Palo Alto Networks (PANW) is a security company at the public stage. As of its most recent disclosure (FY2026-Q2), Palo Alto Networks reported a Net Revenue Retention rate of 119.0% - a strong result for B2B SaaS at this segment.
Palo Alto Networks is currently at or near its all-time NRR peak.
Within its peer set (security companies at public stage in the $500k+ acv band), Palo Alto Networks's NRR is roughly in line with the cell median of 119%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Logo flow per period (count-side complement to dollar-based NRR).
CS team segments: Strategic · Enterprise · Mid-Market · SMB
CSM model: account-named
Education programs: Cybersecurity Academy
CCO comp tied to retention: Yes — Corporate Responsibility modifier to cash incentive plan; NGS ARR and Non-GAAP EPS for PSUs.
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
Consolidating point products into integrated platforms (Network, Cloud, SecOps).
"This financial performance underscores the resonance of our platformization strategy with our customers"
Autonomous AI agents for security detection and remediation to address alert fatigue and talent shortages.
"I am also thrilled to announce the launch of Agentix this quarter. Agentix brings powerful AI agents directly..."
Launch of PanOS 12.1 Orion and 5th-gen firewalls optimized for post-quantum cryptography readiness.
"To address this, we have launched and are going to be delivering a complete quantum-safe strategy."
AI runtime security to help enterprises discover, scan, and test AI artifacts.
"Prisma AIRS allows for just that. It helps enterprises discover, scan, and test all the AI artifacts."
Challenges acknowledged by management. Useful peer signals — your team is probably not alone.
Escalating frequency and sophistication of artificial intelligence-powered cyberattacks.
"effectively protect our customers' assets from the escalating frequency and sophistication of AI cyberattacks"
First reported case of an AI agent autonomously conducting a large-scale nation-state cyber attack.
"This was the first reported case of an AI agent autonomously conducting a large-scale nation-state cyber attack."
Uncertainty in April due to tariff discussions and supply chain shock concerns.
"April was an anomalous month... there were conversations around tariffs around the world."
Curated quotes about customer outcomes, retention, renewals.
"Our differentiated value was centered in our ability to materially reduce meantime to respond."
"We think something like XSIAM becomes the underlying security fabric of enterprises."
"Customers are moving from managing vendor sprawl to demanding superior demonstrable security outcomes through platformization."
"We have been able to deploy AI in our global customer support organization to drive three consecutive quarters of case volume reduction."
"I am immensely proud of the collaborative work Palo Alto Networks has undertaken with our esteemed customers."
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