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Revenue by Segment
Breaks down revenue by business units, revealing which segments drive growth and where Fortinet may face challenges or opportunities.Product revenue has transitioned from cyclical swings to an AI-driven surge that’s materially lifted billings and margins, reflecting big-ticket, high‑performance appliance wins; services remains the larger, steadier bucket but reported growth trails recent service billings and deferred revenue, signalling a likely recognition tailwind into the back half. The key watch items are the timing of services conversion and component/pricing pressures—if sustained, product-led momentum plus accelerating service conversion underpin the company’s raised guidance; if not, revenue and margin upside could be muted.
Date | Services | Product |
|---|---|---|
Jun 30, 2026 | $1.27B | $773.00M |
Mar 31, 2026 | $1.20B | $645.10M |
Dec 31, 2025 | $1.21B | $691.10M |
Sep 30, 2025 | $1.17B | $559.30M |
Jun 30, 2025 | $1.12B | $508.90M |
Mar 31, 2025 | $1.08B | $459.10M |
Dec 31, 2024 | $1.09B | $574.00M |
Sep 30, 2024 | $1.03B | $473.90M |
Jun 30, 2024 | $982.40M | $451.90M |
Mar 31, 2024 | $944.40M | $408.90M |