Fortinet Q1 FY26: 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
- Jan 1 – Mar 31, 2026
- Reported
- May 8, 2026
Revenue$1.85B
+20% year over year
Gross profit$1.49B
80% margin
Operating profit$0.58B
31% margin
Net profit$0.54B
29% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 1.85 | 100% | +20% |
| Security subscription | 0.69 | 37% | +11% |
| Product | 0.65 | 35% | +41% |
| Technical support & other | 0.51 | 28% | +12% |
| Cost of revenue | −0.37 | 20% | |
| Gross profit | 1.49 | 80% margin | −1pp |
| R&D | −0.21 | 12% | −1pp |
| Sales & marketing | −0.64 | 34% | −1pp |
| G&A | −0.06 | 3% | −1pp |
| Operating profit | 0.58 | 31% margin | +2pp |
| Other income, net | 0.08 | ||
| Tax | −0.12 | ||
| Net profit | 0.54 | 29% margin | +1pp |
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