Citable filing context

FTNT filing events and research context

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FTNT's research view summarizes recent SEC filing context, starting with earnings from Feb 5, 2026.

FTNT filing events and research context
FiledItemContext
Feb 5, 2026earningsFortinet reported Q4 2025 revenue of $1.91B and full-year 2025 revenue of $6.80B.
Nov 5, 2025earningsFortinet reported Q3 2025 financial results: revenue $1.72B, billings $1.81B, and issued guidance.
Aug 22, 2025share_repurchaseFortinet increased its share repurchase program by $1 billion to $9.25 billion and extended it to February 28, 2027.
Feb 5, 2026Guidance: billings1770.00 to 1870.00
Feb 5, 2026Guidance: billings8400.00 to 8600.00
Feb 5, 2026Guidance: diluted_non_gaap_net_income_per_share2.94 to 3.00
May 8, 2026mda_quarterlyFortinet 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.
Feb 25, 2026businessFortinet is a cybersecurity leader driving the convergence of networking and security through its integrated Fortinet Security Fabric platform. This platform delivers Secure Networking, Unified Secure Access Service Edge (SASE), and AI-Driven Security Operations (SecOps). Key differentiators include FortiOS, an AI-powered unified operating system for consistent policy enforcement; proprietary FortiASIC processors for superior performance; FortiCloud SaaS; and FortiAI, which provides AI for security operations and protects AI infrastructure, including LLMs. FortiEndpoint converges secure connectivity and advanced endpoint protection. Fortinet serves global enterprises, service providers, and governments across diverse sectors like financial services, healthcare, and operational technology (OT), supported by FortiGuard Labs' threat intelligence and FortiCare services. The company reported $6.80 billion in revenue and $1.85 billion net income in 2025. Fortinet's strategy capitalizes on market trends such as the escalating demand for secure networking, the need to consolidate siloed security tools, and an anticipated firewall refresh cycle, leveraging its platform approach and extensive patent portfolio. The market is highly competitive and characterized by rapid technological change.

Source: SEC EDGAR filing text and events; period Feb 5, 2026; filed Feb 5, 2026.

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