Fortinet Raises 2026 Revenue Forecast as Quarterly Sales Increase 20%
The cybersecurity company reported $2.08 billion in quarterly revenue and higher billings, while its revised annual sales forecast remains a projection.
Fortinet reported a 20% increase in third-quarter revenue to $2.08 billion on October 28 and raised its forecast for total revenue in 2026, citing demand for network security and related products.
Product revenue rose 37% year over year to $765 million, while billings, a measure that includes amounts invoiced for services and products, increased 29% to $2.34 billion. The company reported operating cash flow of $946 million and free cash flow of approximately $865 million for the quarter ended September 30.
Net income under generally accepted accounting principles rose to $635.5 million from $473.9 million a year earlier. Diluted GAAP earnings per share increased to $0.86 from $0.62. The company separately reported adjusted earnings of $0.91 per share. These are different measures and should not be treated as interchangeable.
Fortinet now expects full-year revenue of $8.125 billion to $8.215 billion and billings of $9.568 billion to $9.718 billion. For the fourth quarter, management forecast revenue between $2.155 billion and $2.245 billion. These figures are forward-looking estimates, not sales already recorded.
The board also increased its share-repurchase authorization by $1.2 billion, leaving approximately $2 billion available. An authorization permits future repurchases but does not mean the company has already bought that amount of stock.
Independent earnings tracker Earnings Whispers reported that Fortinet's adjusted $0.91 earnings per share exceeded the cited analyst consensus of $0.86 but fell below the tracker’s separate $0.93 whisper figure. MarketBeat also reported the $2.08 billion revenue result against analysts' $2.06 billion estimate.
The company highlighted security products intended to help businesses monitor AI-related activity and protect distributed networks. It also described collaborations with other technology vendors. The announcements do not independently establish future product adoption or the financial returns from those partnerships.
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