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Fortinet, Inc.

FTNT · NASDAQ

Fortinet reported 2025 revenue of $6.8 billion and first-quarter 2026 revenue of $1.8 billion. The thesis depends on billings quality, deferred revenue, platform adoption, operating margin, cash conversion and competition.

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NASDAQFTNTCoverage BootstrapFortinet, Inc.
Latest ReportMay 19, 2026Fortinet: cybersecurity scale has to keep converting into cashView report ->Total Reports1Published reportView all ->Active Discussions0No visible comments yetView discussions ->Member WorkspaceLockedFinancials, timeline, comparisons, scorecard, and discussion require a paid login.View access ->
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Latest Thesis

Fortinet: cybersecurity scale has to keep converting into cash

Fortinet reported 2025 revenue of $6.8 billion and first-quarter 2026 revenue of $1.8 billion. The thesis depends on billings quality, deferred revenue, platform adoption, operating margin, cash conversion and competition.

May 19, 2026Research reportSlides available
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Fortinet, Inc.cybersecurity scale has to keep converting into cashMay 19, 2026
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Fortinet: cybersecurity scale has to keep converting into cashFortinet reported 2025 revenue of $6.8 billion and first-quarter 2026 revenue of $1.8 billion. The thesis depends on billings quality, deferred revenue, platform adoption, operating margin, cash conversion and competition.NASDAQMay 19, 2026Research reportReadSlides