Palo Alto Networks has finalized its largest acquisition to date by purchasing identity security firm CyberArk. This landmark deal integrates CyberArk’s privileged access management solutions into the Palo Alto security platform.
In a February 18, 2026 interview, CEO Nikesh Arora addressed the market's reaction to the company’s revised financial forecast. Arora stated that the market has not fully understood the updated guidance following the merger.
The CEO highlighted specific differences in how the two companies calculate Annual Recurring Revenue (ARR). He also noted that the impact of share dilution has contributed to the market's misunderstanding.