Fortinet's first quarter 2026 revenue and EPS significantly beat estimates, driven by 31% billings growth.

Fortinet reported first quarter revenue of $1.85 billion, up 20% year-over-year, and non-GAAP EPS of $0.82, a 41% increase from the prior year, with both metrics exceeding analyst expectations and the high end of guidance. The company also raised its revenue guidance for the full fiscal year 2026.

Key Highlights

• Billings growth significantly accelerated to 31% year-over-year, reaching $2.09 billion, far outpacing the mid-teens growth investors were anticipating.
• Product revenue showed strong momentum, increasing 41% year-over-year to $645 million, indicating robust demand for the company's hardware.
• Fortinet raised its full-year 2026 revenue guidance and now expects approximately 15% year-over-year growth, signaling confidence in sustained business momentum.