Fortinet

Fortinet reported Q2 2026 revenue of $2.05 billion (2,047.9 million), up 26% year over year from $1.63 billion. Product revenue rose 52% year over year to $773 million, and service revenue was $1.27 billion. Billings grew 33% year over year to $2.37 billion. GAAP diluted EPS was $0.82, up 44% year over year; net income was $606.3 million versus $440.1 million. GAAP operating margin was 34% (33.7%), against a 38% adjusted (non-GAAP) operating margin. Operating cash flow was $1.04 billion and free cash flow was $966 million. Operationally, the company announced a strategic collaboration with Intel to develop its SP6 security processor, launched the FortiGate 1200G series with FortiSASE Outpost, FortiSOC, and an expanded FortiEndpoint, and Moody's upgraded its senior unsecured notes to A3. For Q3 2026, Fortinet expects revenue of $2.010–$2.100 billion and billings of $2.250–$2.350 billion. For FY2026, it raised revenue growth guidance to 19% year over year, with revenue of $8.020–$8.180 billion and non-GAAP diluted EPS of $3.41–$3.47.

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