Strong Revenue Growth Across the Business
Total revenue grew 20.1% YoY to $1,849.6M in Q1 2026, up from $1,539.7M in Q1 2025, reflecting continued demand for Fortinet's cybersecurity solutions and platform expansion.
Fortinet, Inc. is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: Fortinet delivered a strong Q1 2026 with revenue up 20.1% YoY to $1.85B, operating income surging 27.8% to $580M, and operating cash flow reaching $1.08B, while the company returned $823M to shareholders via buybacks.
Drawn from management commentary in the Q1 2026 10-Q:
Total revenue grew 20.1% YoY to $1,849.6M in Q1 2026, up from $1,539.7M in Q1 2025, reflecting continued demand for Fortinet's cybersecurity solutions and platform expansion.
Operating income rose 27.8% YoY to $580.0M, with operating margin improving approximately 190 basis points to 31.4% from 29.5%, demonstrating operating leverage as revenue growth outpaced expense growth.
R&D expenses grew only 7.8% YoY to $214.0M, well below the 20.1% revenue growth rate, suggesting improved efficiency in product development spending while maintaining innovation investment.
Revenue
$1.85B
++20.13% YoY
EPS (Basic)
$0.72
++28.57% YoY
Gross Margin
80.3%
-0.67% YoY
Operating Income
$580M
++27.81% YoY
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