FortinetFTNTEarnings & Financial Report
Fortinet, Inc. is an American cybersecurity company headquartered in Sunnyvale, California. It develops and sells security products including firewalls, endpoint security and intrusion detection systems. Fortinet has offices in the US, Canada, and UK.
Revenue
$1.7B
Gross Profit
$1.4B
Operating Profit
$547.3M
Net Profit
$473.9M
Gross Margin
80.8%
Operating Margin
31.7%
Net Margin
27.5%
YoY Growth
14.4%
EPS
$0.62
Fortinet Q3 FY2025 Financial Summary
Fortinet reported revenue of $1.7B (up 14.4% YoY) for Q3 FY2025, with a net profit of $473.9M (down 12.2% YoY) (27.5% margin). Cost of goods sold was $331.7M, operating expenses totaled $845.9M.
Key Financial Metrics
| Total Revenue | $1.7B |
|---|---|
| Net Profit | $473.9M |
| Gross Margin | 80.8% |
| Operating Margin | 31.7% |
| Report Period | Q3 FY2025 |
Revenue Breakdown
Fortinet Q3 FY2025 revenue of $1.7B breaks down across 3 segments, led by Security Subscription at $672.0M (39.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Security Subscription | $672.0M | 39.0% |
| Products | $559.3M | 32.4% |
| Technical Supportand Other | $493.6M | 28.6% |
Fortinet Revenue by Segment — Quarterly Trend
Fortinet revenue by segment across the last 4 reported quarters, showing how each business line (such as Security Subscription and Products) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Security Subscription | — | $693.7M | $672.0M | $644.4M |
| Products | — | — | $559.3M | $508.9M |
| Technical Supportand Other | — | — | $493.6M | $476.7M |
Fortinet Annual Revenue by Year
Fortinet annual revenue history includes year-by-year totals (for example, 2025 revenue was $6.8B).
| Year | Annual Revenue |
|---|---|
| 2025 | $6.8B |
| 2024 | $6.0B |
| 2023 | $5.3B |
| 2022 | $4.4B |
Fortinet Quarterly Revenue & Net Profit History
Fortinet results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $1.8B | +20.1% | $534.5M | 28.9% |
| Q4 FY2025 | $1.9B | +14.8% | $506.0M | 26.6% |
| Q3 FY2025 | $1.7B | +14.4% | $473.9M | 27.5% |
| Q2 FY2025 | $1.6B | +13.6% | $440.1M | 27.0% |
| Q1 FY2025 | $1.5B | +13.8% | $433.4M | 28.1% |
| Q4 FY2024 | $1.7B | +17.3% | $526.2M | 31.7% |
| Q3 FY2024 | $1.5B | +13.0% | $539.9M | 35.8% |
| Q2 FY2024 | $1.4B | +10.9% | $379.8M | 26.5% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.43B | $1.51B | $1.66B | $1.54B | $1.63B | $1.72B | $1.91B | $1.85B |
| YoY Growth | 10.9% | 13.0% | 17.3% | 13.8% | 13.6% | 14.4% | 14.8% | 20.1% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $8.05B | $8.85B | $9.76B | $10.41B | $10.64B | $9.36B | $10.39B | $9.88B |
| Liabilities | $7.76B | $7.94B | $8.27B | $8.44B | $8.58B | $8.63B | $9.15B | $8.89B |
| Equity | $288.2M | $908.1M | $1.49B | $1.96B | $2.06B | $735.1M | $1.24B | $989.7M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $342.0M | $608.1M | $477.6M | $863.3M | $451.9M | $655.2M | $620.2M | $1.08B |