Fortinet Q4 FY25: where the revenue came from and where it went
The whole income statement of Fortinet for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Oct 1 – Dec 31, 2025
- Reported
- Feb 25, 2026
Revenue$1.91B
+15% year over year
Gross profit$1.52B
80% margin
Operating profit$0.63B
33% margin
Net profit$0.51B
27% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 1.91 | 100% | +15% |
| Security subscription | 0.69 | 37% | +11% |
| Product | 0.69 | 36% | +20% |
| Technical support & other | 0.52 | 27% | +13% |
| Cost of revenue | −0.39 | 20% | |
| Gross profit | 1.52 | 80% margin | −1pp |
| R&D | −0.21 | 11% | −1pp |
| Sales & marketing | −0.63 | 33% | +1pp |
| G&A | −0.06 | 3% | +0pp |
| Operating profit | 0.63 | 33% margin | −2pp |
| Other income, net | 0.03 | ||
| Tax | −0.15 | ||
| Net profit | 0.51 | 27% margin | −5pp |
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