<div id="readability-page-1"><div>Fortinet, a global cybersecurity leader driving the convergence of networking and security, reported stronger than expected first-quarter 2026 results, with revenue rising 20% year on year to $1.85 billion, as enterprises increased spending on cybersecurity solutions to counter increasingly sophisticated digital threats.The cybersecurity company said product revenue climbed 41% to $645 million in the quarter ended March 31, while billings rose 31% to $2.09 billion, exceeding the upper end of its financial guidance for both revenue and profitability.The results reflect sustained global demand for cybersecurity technologies as organizations accelerate digital transformation and invest in integrated platforms that combine networking and security.Profitability improvesFortinet reported an operating margin of 31% under Generally Accepted Accounting Principles (GAAP), while its non-GAAP operating margin reached 36%.Diluted non-GAAP earnings per share rose 41% year on year to $0.82.Operating cash flow reached a record $1.08 billion, while free cash flow totaled $1.01 billion, underscoring the company’s strong financial position and operating efficiency.Enterprise demand drives growthKen Xie, founder, chairman and chief executive officer of Fortinet, said the company’s first-quarter performance reflected continued demand across global markets, supported by strong execution.“The strong billings growth demonstrates the continued trend toward convergence of networking and security, a strategy Fortinet has championed for more than 26 years, alongside the rapid evolution of AI-driven cyber threats,” Xie said.He added that as network security evolves towards the SASE Firewall, innovations such as FortiOS 8.0 and FortiASIC technology continue to differentiate Fortinet’s platform and support ongoing market share gains.Xie said Fortinet’s direct operations and manufacturing model also helped the company navigate supply chain challenges.Product expansionDuring the quarter, Fortinet launched FortiOS 8.0, the latest version of the operating system supporting its Fortinet Security Fabric platform, introducing expanded AI capabilities, next-generation SASE functionality, and quantum-safe capabilities.The company also expanded its FortiGate G Series firewall portfolio with the launch of FortiGate 3500G and FortiGate 400G, targeting enterprises managing growing volumes of encrypted traffic.Fortinet also expanded its artificial intelligence partnerships through collaborations with Anthropic under Project Glasswing, alongside OpenAI and other technology companies.Market recognitionFortinet was named a Gartner Peer Insights Customers’ Choice vendor for software-defined wide area networking (SD-WAN) solutions for the seventh consecutive year, reflecting continued customer adoption of its enterprise networking products.Outlook raisedFor the second quarter of 2026, Fortinet expects revenue between $1.83 billion and $1.93 billion, with billings projected between $2.09 billion and $2.19 billion.The company forecasts a non-GAAP gross margin of 79.5% to 80.5% and a non-GAAP operating margin of 33% to 35%, with diluted non-GAAP earnings per share expected between $0.72 and $0.76.For the full 2026 fiscal year, Fortinet raised its outlook, projecting revenue between $7.71 billion and $7.87 billion, representing approximately 15% annual growth.Service revenue is expected to range between $5.09 billion and $5.15 billion, while total billings are forecast between $8.8 billion and $9.1 billion.The company expects full-year non-GAAP operating margins between 33% and 36%, with diluted non-GAAP earnings per share projected between $3.10 and $3.16.Sector growthThe results come as global cybersecurity spending continues to rise, driven by increased investment in cloud protection, network security and AI-enabled threat detection as businesses respond to a rapidly evolving cyber risk landscape.About FortinetFortinet is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet’s solutions, which are among the most deployed, most patented and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams (“CERTs”), government entities, and academia, is a fundamental aspect of Fortinet’s commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet’s elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at https://www.fortinet.com, the Fortinet Blog, and FortiGuard Labs.Send us your press releases to pressrelease.zawya@lseg.comDisclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.The press release is provided for informational purposes only. 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FTNT

Fortinet reported strong first-quarter 2026 results, with revenue up 20% year-on-year to $1.85 billion, driven by increased enterprise spending on cybersecurity. Product revenue rose 41% to $645 million, and billings increased 31% to $2.09 billion. The company achieved a GAAP operating margin of 31% and a non-GAAP operating margin of 36%. Fortinet raised its outlook for the full fiscal year, projecting revenue between $7.71 billion and $7.87 billion, reflecting a 15% annual growth. The results highlight the ongoing demand for cybersecurity solutions amid evolving digital threats.

ZAWYA: Fortinet reports strong first quarter 2026 financial results