Fortinet stock gets higher 2026 outlook after strong Q3
Published on 11/10/2026 at 14:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFortinet strengthens its 2026 outlook
- Third-quarter billings expanded faster than revenue as product demand remained strong.
- Management expects continued growth in the final quarter and raised its full-year targets.
- Fortinet is tying new AI security services and partnerships to its broader platform strategy.
Fortinet raised its 2026 revenue and billings outlook after reporting strong third-quarter results on October 28. The cybersecurity company said revenue increased 20 percent year over year to 2.08 billion US dollars, while billings rose 29 percent to 2.34 billion US dollars. The figures were reported in Fortinet's investor release for the quarter ended September 30.
Product revenue grew 37 percent to 765 million US dollars, while service revenue increased 13 percent to 1.31 billion US dollars. Fortinet also reported GAAP earnings per diluted share of 0.86 US dollars and non-GAAP earnings per diluted share of 0.91 US dollars. Operating cash flow reached 946 million US dollars, and free cash flow was 865 million US dollars.
Guidance points to continued growth
For the fourth quarter, Fortinet expects revenue of 2.155 billion to 2.245 billion US dollars and billings of 2.775 billion to 2.925 billion US dollars. The company guided to non-GAAP earnings per diluted share of 0.93 to 0.95 US dollars and a non-GAAP operating margin of 35.5 percent to 37.5 percent.
For the full year, revenue is now expected at 8.125 billion to 8.215 billion US dollars, with service revenue at 5.150 billion to 5.170 billion US dollars. The billings outlook stands at 9.568 billion to 9.718 billion US dollars. Fortinet also expects a non-GAAP operating margin of 36.5 percent to 37.5 percent and non-GAAP earnings per diluted share of 3.54 to 3.58 US dollars.
Chief Executive Officer Ken Xie attributed the performance to strong execution and broad demand across Fortinet's portfolio. He said the company raised its 2026 billings guidance for the third time this year. The outlook excludes stock-based compensation, amortization of acquired intangible assets and other specified adjustments from non-GAAP measures.
AI security broadens the growth case
Fortinet is using its network security platform to address demand linked to artificial intelligence. During the quarter, it introduced the FortiGuard Inline AI Security Service, which is designed to inspect AI activity and block threats and data exposure. It also announced FortiLink SASE for smaller branches, remote facilities and distributed locations.
The company highlighted partnerships and ecosystem activity involving NVIDIA, Oracle and Microsoft. Fortinet said these initiatives are intended to help customers secure AI infrastructure, govern AI applications and address the needs of regulated industries. For investors, the execution of these newer services remains important because the higher outlook depends on sustained demand beyond the hardware cycle.
Fortinet stock at Lang & Schwarz
Fortinet stock traded at 109.08 euros on Lang & Schwarz at 14:00 CET on Tuesday, November 10, 2026.
Fortinet Inc. key facts
- Company: Fortinet Inc.
- ISIN: US34959E1091
- Nasdaq ticker: FTNT
- Lang & Schwarz quote: 109.08 euros on November 10, 2026, at 14:00 CET
- Reporting period: Third quarter ended September 30, 2026
Fortinet's next scheduled conference appearance is the BMO Technology and Innovation Leaders Conference on November 12, 2026, followed by the UBS Global Technology and AI Conference on December 2 and the Barclays Global Technology Conference on December 9.
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