Fortinet beats Q1 revenue estimates on broad-based demand, raises 2026 revenue guidance

Fortinet

06/05/2026 21:15

Overview

Cybersecurity firm's Q1 revenue grew 20% yr/yr, beating analyst expectations

Adjusted EPS for Q1 rose 41% yr/yr, beating analyst expectations

Company attributed results to broad-based demand and product innovation

Outlook

Fortinet sees Q2 revenue between $1.83 bln and $1.93 bln

Company expects 2026 revenue between $7.71 bln and $7.87 bln

Fortinet raises 2026 revenue guidance to 15% year-over-year growth

Result Drivers

BROAD-BASED DEMAND - Co said billings and revenue growth were driven by demand across its portfolio and geographies

PRODUCT INNOVATION - New offerings such as FortiOS 8.0 and FortiGate G Series contributed to differentiation and market share gains

AI-DRIVEN THREAT ENVIRONMENT - Co said an increasingly complex threat environment, intensified by AI, boosted demand for its solutions

Company press release: ID:nGNE7rxVnj

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.85 bln
$1.73 bln (36 Analysts)
Q1 Adjusted EPS
Beat
$0.82
$0.62 (37 Analysts)
Q1 EPS
$0.72
Q1 Adjusted Operating Margin
36.00%
Q1 Billings
$2.09 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 12 "strong buy" or "buy", 30 "hold" and 4 "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy."

Wall Street's median 12-month price target for Fortinet Inc is $90.00, about 0.1% above its May 5 closing price of $89.92

The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 28 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)