Fortinet raised its full-year revenue outlook October 28 after reporting third-quarter sales of $2.08 billion, up 20% from a year earlier.
Product revenue increased 37% to $765 million. The company reported earnings of 86 cents per share under generally accepted accounting principles and adjusted earnings of 91 cents. Its GAAP operating margin was 34%, compared with an adjusted margin of 38%.
The results cover the quarter ended September 30, 2026. Operating cash flow reached $946 million, and supplemental free cash flow was approximately $865 million, according to the company's announcement.
Fortinet now projects 2026 revenue of $8.125 billion to $8.215 billion. For the fourth quarter, it expects revenue of $2.155 billion to $2.245 billion. These ranges are management forecasts.
The company also increased its share repurchase authorization by $1.2 billion, leaving $2 billion authorized. An authorization permits future purchases; it does not mean the entire amount has already been spent.
Adjusted earnings and margins exclude specified expenses and other items and supplement the standard accounting results.
Sources Fortinet quarterly results: https://investor.fortinet.com/news-releases/news-release-details/fortinet-reports-strong-third-quarter-2026-financial-results