)
Overview
<ul>
<li>Cybersecurity firm’s Q4 revenue grew 15% yr/yr, beating analyst expectations</li>
<li>Adjusted EPS for Q4 beat analyst expectations</li>
<li>Company expands share repurchase authorization by $1 bln</li>
</ul>
Outlook
<ul>
<li>Fortinet expects Q1 2026 revenue between $1.700 bln and $1.760 bln</li>
<li>Company sees FY 2026 revenue between $7.500 bln and $7.700 bln</li>
<li>Fortinet anticipates Q1 2026 non-GAAP operating margin between 30% and 32%</li>
</ul>
Result Drivers
<ul>
<li>UNIFIED SASE DEMAND - Fortinet’s Q4 performance was driven by strong demand for Unified SASE solutions, with billings growing 40%</li>
<li>PARTNERSHIPS AND RECOGNITIONS - Collaborations with NVIDIA and recognitions from Gartner and Google supported Fortinet’s Q4 growth</li>
</ul>
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q4 Beat $1.91 $1.86
Revenue bln bln (35
Analysts
)
Q4 Beat $0.81 $0.74
Adjusted (36
EPS Analysts
)
<h3>Q4 EPS $0.68</h3>
<h3>Q4 37.00%</h3>
Adjusted
Operatin
g Margin
<h3>Q4 $2.37</h3>
Billings bln
Analyst Coverage
<ul>
<li>The current average analyst rating on the shares is “hold” and the breakdown of recommendations is 12 “strong buy” or “buy”, 29 “hold” and 3 “sell” or “strong sell”</li>
<li>The average consensus recommendation for the software peer group is “buy.”</li>
<li>Wall Street’s median 12-month price target for Fortinet Inc is $87.00, about 7.2% above its February 4 closing price of $81.12</li>
<li>The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 31 three months ago</li>
</ul>
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

NVDA

FTNT

- Fortinet's Q4 revenue increased by 15% year-over-year, exceeding analyst forecasts, alongside an adjusted EPS that also surpassed expectations.  
- The company anticipates Q1 2026 revenue between $1.700 billion and $1.760 billion, and FY 2026 revenue between $7.500 billion and $7.700 billion, with a non-GAAP operating margin estimated at 30%-32%.  
- Growth was fueled by strong demand for Unified SASE solutions, with billings up 40%, and partnerships with NVIDIA boosted the company’s performance.

Fortinet beats Q4 revenue expectations, expands share repurchase authorization by $1 bln