Fortinet raises full-year outlook as strong cybersecurity demand drives Q1 outperformance

For Q1, gross roseate 20% twelvemonth implicit twelvemonth to $1.85 billion, compared with expert expectations of astir $1.73 billion.

Adjusted net per stock came successful astatine $0.82, up 41% from a twelvemonth earlier and supra estimates of $0.62.

Billings grew 31% twelvemonth implicit twelvemonth to $2.09 billion, reflecting continued request for the company’s information level offerings.

Following the stronger-than-expected results, Fortinet raised its full-year 2026 outlook. The institution present expects gross betwixt $7.71 cardinal and $7.87 billion, up from its anterior scope of $7.5 cardinal to $7.7 billion. Full-year non-GAAP net per stock are present projected astatine $3.10 to $3.16.

For the 2nd 4th of 2026, Fortinet guided for gross betwixt $1.83 cardinal and $1.93 cardinal and adjusted net per stock of $0.72 to $0.76. Billings are expected to scope from $2.09 cardinal to $2.19 billion.

The institution besides outlined expectations for continued beardown profitability, forecasting a non-GAAP gross borderline of 79.5% to 80.5% for the 2nd 4th and 79% to 81% for the afloat year.

Full-year billings are projected betwixt $8.8 cardinal and $9.1 billion, with non-GAAP operating margins expected successful the scope of 33% to 36%.

“We are precise pleased with our fantabulous archetypal 4th results, exceeding the precocious extremity of our guidance done beardown execution and broad-based request crossed our portfolio and geographies,” Fortinet CEO Ken Xie said.

“Billings grew 31% twelvemonth implicit year, driven by the continued convergence of networking and security, an attack Fortinet has led for 26 years, and by an progressively analyzable menace situation that is being intensified by AI.”