Fortinet Q2 revenue $2.05B (+26% YoY), beats guidance; raises FY2026 outlook

Fortinet, Inc.

Q2 revenue $2.05B (+26% YoY), product revenue $773M (+52% YoY); GAAP EPS $0.82 (+44% YoY), non-GAAP EPS $0.90 (+41% YoY).
Billings $2.37B (+33% YoY); operating cash flow $1.04B, free cash flow $966M.
Raises FY2026 revenue guidance to $8.02B-$8.18B (19% YoY growth); Q3 revenue guidance $2.01B-$2.10B.
Non-GAAP operating margin 38% in Q2; FY2026 non-GAAP EPS guidance $3.41-$3.47.
Moody's upgraded Fortinet's senior unsecured notes rating to A3, highest of any public cybersecurity company.

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