Fortinet reported FY 2025 revenue of USD 6.80 billion (+14%), including product revenue of USD 2.22 billion (+16%) and service revenue of USD 4.58 billion (+13%). FY 2025 net income was USD 1.85 billion, with operating income of USD 2.08 billion (+16%) and operating margin of 30.7% (up 0.4 percentage points); gross margin was 80.5%. FY 2025 billings (non-GAAP) were USD 7.55 billion (+16%), deferred revenue was USD 7.12 billion (+12%), net cash provided by operating activities was USD 2.59 billion (+15%), and free cash flow (non-GAAP) was USD 2.21 billion. Cash, cash equivalents and investments totaled USD 3.92 billion at Dec. 31, 2025. For FY 2025, Fortinet highlighted continued growth in secure networking hardware products and term licenses, and service momentum supported by security subscriptions, unified SASE and SecOps, alongside ongoing expansion of its data center footprint and more than 190 points of presence. The company said it is implementing price increases to mitigate higher hardware component costs amid a global memory chip shortage, and it estimated FY 2026 capital expenditures of approximately USD 350 million to USD 450 million. Fortinet also reported FY 2025 share repurchases of USD 2.29 billion (28.7 million shares) and said its board increased the authorized repurchase amount by USD 1.0 billion in August 2025 and again by USD 1.0 billion in January 2026; as of Feb. 24, 2026, approximately USD 1.27 billion remained available.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fortinet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001262039-26-000007), on February 25, 2026, and is solely responsible for the information contained therein.