Quarterly ResultMay 6, 2026, 04:18 PM
Fortinet Q1 Revenue +20% to $1.85B; Non-GAAP EPS $0.82
AI Summary
Fortinet, Inc. reported strong financial results for the first quarter ended March 31, 2026, exceeding the high end of its guidance for both revenue and profitability. The company achieved a 20% year-over-year increase in revenue to $1.85 billion and a 41% rise in non-GAAP diluted earnings per share to $0.82. Driven by strong execution and broad-based demand, Fortinet also raised its full-year 2026 revenue guidance, now expecting 15% year-over-year growth.
Key Highlights
- Revenue grew 20% year over year to $1.85 billion, exceeding the high end of guidance.
- Product revenue increased 41% year over year to $645 million.
- Billings grew 31% year over year to $2.09 billion.
- Non-GAAP operating margin reached 36%.
- Non-GAAP diluted earnings per share grew 41% year over year to $0.82.
- Reported record operating cash flow of $1.08 billion and record free cash flow of $1.01 billion.
- Raised 2026 full-year revenue guidance to a range of $7.71 billion to $7.87 billion.
- For Q2 2026, Fortinet expects revenue between $1.83 billion and $1.93 billion.