Filing Flows › Fortinet (FTNT) › Q3 2026 › vs Q3 2025
Fortinet (FTNT) Q3 2026 vs Q3 2025 (year over year)
Fortinet's revenue rose $354M (+20%) from $1.7B in Q3 2025 to $2.1B in Q3 2026. The biggest changes: Product +$206M (+37%); Service +$148M (+13%). Gross margin 79.0% against 80.8% (-1.8 pts).
Fortinet, Q3 2026: revenue $2.1B (+20% year over year), operating margin 33.9%, net earnings $636M, operating cash flow $946M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 79.0% | 80.8% | -1.8 pts |
| Operating margin | 33.9% | 31.7% | +2.2 pts |
| Net margin | 30.6% | 27.5% | +3.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Security subscription | $754M | $672M | $81.6M | +12% |
| Technical support and other | $560M | $494M | $66.2M | +13% |
| Service | $1.3B | $1.2B | $148M | +13% |
| Product | $765M | $559M | $206M | +37% |
| Revenue | $2.1B | $1.7B | $354M | +20% |
| Gross profit | $1.6B | $1.4B | $248M | +18% |
| Cost of revenue | $438M | $332M | $106M | +32% |
| Other income, net | $50.7M | $47.5M | $3.2M | +7% |
| Operating profit | $704M | $547M | $157M | +29% |
| Operating expenses | $937M | $846M | $90.7M | +11% |
| Pre-tax earnings | $755M | $595M | $160M | +27% |
| Research & development | $213M | $202M | $11.0M | +5% |
| Sales & marketing | $665M | $584M | $81.5M | +14% |
| General & admin | $59.6M | $61.4M | −$1.8M | -3% |
| Net earnings | $636M | $474M | $162M | +34% |
| Income tax | $120M | $121M | −$1.2M | -1% |
| Depreciation & amortization | $39.4M | $38.4M | $1.0M | +3% |
| Share-based compensation | $80.1M | $71.8M | $8.3M | +12% |
| Working capital & other | $191M | $71.1M | $120M | +169% |
| Operating cash flow | $946M | $655M | $291M | +44% |
Questions
How much did Fortinet's revenue grow year over year in Q3 2026?
Fortinet's revenue rose $354M (+20%) from $1.7B in Q3 2025 to $2.1B in Q3 2026.
What drove Fortinet's revenue change in Q3 2026?
Product +$206M (+37%); Service +$148M (+13%).