Fortinet, Inc. (FTNT) Earnings Call Transcripts
Fortinet, Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of fiscal year 2026, Fortinet, Inc. (FTNT) reported a robust performance, with total revenue increasing 26% year-over-year to $2.05 billion, exceeding expectations. Earnings per share (EPS) also saw significant growth, with non-GAAP EPS rising 41% to $0.90. Management raised guidance for the full year, now expecting total billings between $9.35 billion and $9.55 billion, indicating strong momentum driven by AI and SASE Firewall innovations.
Reported metrics
| Metric | Value |
|---|---|
| Total Revenue | $2.05B (beat) |
| Product Revenue | $773M (beat) |
| Total Billings | $2.37B (beat) |
| Non-GAAP EPS | $0.90 (beat) |
| GAAP EPS | $0.82 (beat) |
| Free Cash Flow | $966M (beat) |
Guidance from management
For Q3 2026, management expects billings of $2.25 billion to $2.35 billion and revenue of $2.01 billion to $2.1 billion. Full-year guidance for billings is raised to $9.35 billion to $9.55 billion, reflecting strong momentum and demand.
What management said
Thank you, Christiane. As a reminder, during the Q&A session, we will ask to please limit yourself to one question and one follow-up question to allow others to participate. Operator, please open the line for questions.
Yes. We have approximately high single-digit impact built into our billings assumptions for the second half. And it's very dependent on product mix and what is being sold because -- I mean, yes, there were price increases, but they were not for every product and every service. So it really depends on what's going, and this is why also if you look at back at my prepared remarks, we saw really good unit growth, and we ...
What analysts pressed on
Analysts expressed concerns about the sustainability of growth rates, particularly in light of potential price increases and the competitive landscape. There were questions regarding how Fortinet plans to maintain its margins amid rising input costs and if the current growth is sustainable beyond the short term.
Main topics on the call
- Strong Revenue Growth — Fortinet's total revenue grew 26% to $2.05 billion, with product revenue surging 52% to $773 million. Management stated, "We delivered exceptional billings growth across each of our three pillars in the first quarter, fo...
- SASE Firewall Innovation — The introduction of the SASE Firewall is seen as a game changer, with billings from this segment growing 34% to over $2 billion. Ken Xie noted, "This new platform... is starting to replace the traditional NextGen firewal...
- AI-Driven Security Operations — Billings from AI-driven security operations grew 25%, driven by strong upsell momentum as customers consolidate point solutions onto Fortinet's broader platform. Management emphasized the importance of AI in modernizing ...
- Improved Service Revenue Outlook — Service revenue grew 14% to $1.27 billion, with management expressing confidence in a positive trajectory for service revenue growth rates moving forward. Christiane Ohlgart stated, "We believe the first quarter of 2026 ...
Read the full Fortinet, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Fortinet, Inc.
Fortinet, Inc. (FTNT) is a publicly listed company in the Software industry, within the Information Technology sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 88 calls on record spanning February 6, 2020 to July 29, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 88 Fortinet, Inc. earnings call transcripts on record, spanning February 6, 2020 to July 29, 2026. Based on this history, Fortinet, Inc. reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- FTNT
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Information Technology
- Industry
- Software
- Calls on record
- 88
- First call
- February 6, 2020
- Most recent
- July 29, 2026
- Reporting cadence
- quarterly