Fortinet Reports Strong Third Quarter 2026 Financial Results
The security company reported faster product than overall revenue growth and raised its annual outlook.
TL;DR
- Fortinet reported Q3 2026 revenue of $2.08 billion, up 20%.
- Product revenue increased 37%, while billings grew 29%.
- The company raised its 2026 revenue guidance, which remains a projection.
Fortinet reported Q3 2026 revenue of $2.08 billion, up 20% from a year earlier. Benzinga reported that the result exceeded the revenue estimate it cited. [1] [2]
Product revenue rose 37% to $765 million, while billings increased 29% to $2.34 billion. The company defines billings using revenue and changes in deferred revenue, so it is not the same measure as recognized revenue. [1] [2]
Fortinet reported GAAP earnings per share of $0.86 and non-GAAP earnings per share of $0.91. Benzinga reported that the adjusted figure exceeded its cited estimate. [1] [2]
The company raised its 2026 revenue guidance to 20% year-over-year growth. Actual full-year results remain uncertain. [1]
Why it matters
The split between product sales and billings helps explain how cybersecurity demand flows into reported revenue and future contracted business.
Editor's note
Billings and adjusted earnings are non-GAAP measures; guidance is forward-looking. The headline retains the company’s wording.