Citable filing context
FTNT's research view summarizes recent SEC filing context, starting with earnings from Jul 29, 2026.
| Filed | Item | Context |
|---|---|---|
| Jul 29, 2026 | earnings | Fortinet reported Q2 2026 revenue of $2.05 billion, up 26% year-over-year, and raised its 2026 revenue guidance. |
| Jun 16, 2026 | other | Fortinet stockholders elected nine directors and ratified Deloitte & Touche LLP as independent auditor on June 12, 2026. |
| May 6, 2026 | earnings | Fortinet reported Q1 2026 revenue of $1.85 billion, representing 20% year-over-year growth. |
| Jul 29, 2026 | Guidance: billings | 9350.00 to 9550.00 |
| Jul 29, 2026 | Guidance: billings | 2250.00 to 2350.00 |
| Jul 29, 2026 | Guidance: diluted_non_gaap_net_income_per_share | 0.83 to 0.87 |
| Jul 30, 2026 | mda_quarterly | Fortinet’s financial performance for the first half of 2026 reflects strong growth, with total revenue reaching $3.90 billion, a 23% increase year-over-year. Product revenue rose 46% to $1.42 billion, driven by higher unit shipments of secure networking hardware and increased demand for AI-infrastructure-related deployments. Service revenue grew 13% to $2.48 billion, bolstered by the expansion of the Fortinet Security Fabric, including unified SASE and SecOps offerings. Operating margins improved to 32.6%, up from 28.8% in the prior-year period, as revenue growth outpaced increases in operating expenses. The company maintains a robust liquidity position with $4.47 billion in cash, cash equivalents, and investments, despite significant capital allocation toward a $972.8 million share repurchase program and the $500 million repayment of 2026 Senior Notes. Key risks include supply chain constraints—specifically a global shortage of memory chips—which may lead to production delays and increased costs. While the company has implemented price increases to mitigate these pressures, margin compression remains a potential concern. Additionally, the company is navigating ongoing legal challenges, including a consolidated securities class action and related derivative litigation. Management continues to prioritize investments in data center capacity and R&D to support long-term growth in the competitive cybersecurity market. |
| May 8, 2026 | mda_quarterly | Fortinet reported strong first-quarter 2026 results, with total revenue up 20% to $1.85 billion. Product revenue surged 41% to $645.1 million, driven by demand for secure networking hardware, higher-performance products, AI infrastructure deployments, and technology upgrades, with pricing changes contributing a low single-digit impact. Service revenue grew 11% to $1.20 billion, fueled by FortiGuard security subscriptions, FortiCare technical support, and unified Secure Access Service Edge (SASE) and Security Operations (SecOps) SaaS solutions. Billings increased 31% to $2.09 billion, and deferred revenue reached $7.35 billion. Operating income rose 28% to $580.0 million, expanding the operating margin by 1.9 percentage points to 31.4% as revenue growth outpaced expenses. Gross margin slightly decreased by 0.7 percentage points to 80.3% due to a revenue mix shift towards lower-margin products. Key risks include macroeconomic and geopolitical instability, inflation, and a global memory chip shortage impacting production, costs, and potentially demand despite price increases. Inventory purchase commitments increased to $1.37 billion to secure supply. For 2026, operating margins are projected to compress due to strategic investments in sales and marketing, product development, and data center expansion. The company repaid $500 million in 2026 Senior Notes and repurchased $826.9 million in shares, with $911.7 million remaining in its expanded program. |
Source: SEC EDGAR filing text and events; period Jul 29, 2026; filed Jul 29, 2026.
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