Earnings Releases·Oct 28, 2026, 4:09 PM ET

Fortinet — Third Quarter 2026 Earnings Summary

Total revenue grew 20% year over year to $2.08 billion, with product revenue up 37% to $765 million and billings rising 29% to $2.34 billion; GAAP and non-GAAP operating margins were 34% and 38%, respectively.
Management raised full-year 2026 billings guidance to 20% year-over-year growth and issued Q4 revenue guidance of $2.155 billion to $2.245 billion, marking the third guidance increase in 2026.
Share repurchase authorization increased by $1.2 billion, leaving $2 billion remaining, while cash and cash equivalents rose to $3.75 billion from $2.50 billion at year-end 2025.
Strategic initiatives include the launch of FortiGuard Inline AI Security Service and FortiLink SASE, alongside new partnerships with NVIDIA, Oracle, and Microsoft to secure AI applications and sovereign environments.