Fortinet (FTNT) Revenue & Revenue Breakdown
Fortinet Revenue Highlights
Latest Revenue (Y)
$5.30B
Latest Revenue (Q)
$1.43B
Main Segment (Y)
Service
Main Geography (Y)
Americas
Fortinet Revenue by Period
Fortinet Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $5.30B | 20.09% |
| 2022-12-31 | $4.42B | 32.17% |
| 2021-12-31 | $3.34B | 28.82% |
| 2020-12-31 | $2.59B | 20.32% |
| 2019-12-31 | $2.16B | 19.71% |
| 2018-12-31 | $1.80B | 20.49% |
| 2017-12-31 | $1.49B | 17.21% |
| 2016-12-31 | $1.28B | 26.37% |
| 2015-12-31 | $1.01B | 31.01% |
| 2014-12-31 | $770.36M | 25.20% |
| 2013-12-31 | $615.30M | 15.30% |
| 2012-12-31 | $533.64M | 23.08% |
| 2011-12-31 | $433.58M | 33.53% |
| 2010-12-31 | $324.70M | 28.79% |
| 2009-12-31 | $252.12M | 19.04% |
| 2008-12-31 | $211.79M | 36.32% |
| 2007-12-31 | $155.37M | 25.84% |
| 2006-12-31 | $123.47M | - |
Fortinet generated $5.30B in revenue during NA 2023, up 20.09% compared to the previous quarter, and up 294.51% compared to the same period a year ago.
Fortinet Revenue by Quarter
| Date | Revenue | Change |
|---|---|---|
| 2024-06-30 | $1.43B | 5.99% |
| 2024-03-31 | $1.35B | -4.37% |
| 2023-12-31 | $1.42B | 6.03% |
| 2023-09-30 | $1.33B | 3.23% |
| 2023-06-30 | $1.29B | 2.42% |
| 2023-03-31 | $1.26B | -1.61% |
| 2022-12-31 | $1.28B | 11.61% |
| 2022-09-30 | $1.15B | 11.59% |
| 2022-06-30 | $1.03B | 7.89% |
| 2022-03-31 | $954.80M | -0.91% |
| 2021-12-31 | $963.60M | 11.12% |
| 2021-09-30 | $867.20M | 8.25% |
| 2021-06-30 | $801.10M | 12.78% |
| 2021-03-31 | $710.30M | -5.04% |
| 2020-12-31 | $748.00M | 14.88% |
| 2020-09-30 | $651.10M | 5.78% |
| 2020-06-30 | $615.50M | 6.69% |
| 2020-03-31 | $576.90M | -6.10% |
| 2019-12-31 | $614.40M | 12.22% |
| 2019-09-30 | $547.50M | 4.95% |
| 2019-06-30 | $521.70M | 10.39% |
| 2019-03-31 | $472.60M | -6.79% |
| 2018-12-31 | $507.00M | 11.70% |
| 2018-09-30 | $453.90M | 2.86% |
| 2018-06-30 | $441.30M | 10.60% |
| 2018-03-31 | $399.00M | -4.24% |
| 2017-12-31 | $416.67M | 11.34% |
| 2017-09-30 | $374.22M | 2.96% |
| 2017-06-30 | $363.47M | 6.72% |
| 2017-03-31 | $340.58M | -6.13% |
| 2016-12-31 | $362.83M | 14.59% |
| 2016-09-30 | $316.65M | 1.69% |
| 2016-06-30 | $311.39M | 9.42% |
| 2016-03-31 | $284.58M | -4.03% |
| 2015-12-31 | $296.53M | 14.02% |
| 2015-09-30 | $260.07M | 8.46% |
| 2015-06-30 | $239.78M | 12.64% |
| 2015-03-31 | $212.89M | -4.95% |
| 2014-12-31 | $223.97M | 15.84% |
| 2014-09-30 | $193.35M | 5.02% |
| 2014-06-30 | $184.10M | 8.97% |
| 2014-03-31 | $168.95M | -4.74% |
| 2013-12-31 | $177.35M | 14.64% |
| 2013-09-30 | $154.70M | 4.93% |
| 2013-06-30 | $147.43M | 8.55% |
| 2013-03-31 | $135.82M | -10.15% |
| 2012-12-31 | $151.16M | 10.93% |
| 2012-09-30 | $136.27M | 5.67% |
| 2012-06-30 | $128.96M | 9.99% |
| 2012-03-31 | $117.25M | -2.99% |
| 2011-12-31 | $120.86M | 3.81% |
| 2011-09-30 | $116.43M | 13.01% |
| 2011-06-30 | $103.02M | 10.46% |
| 2011-03-31 | $93.27M | -0.36% |
| 2010-12-31 | $93.60M | 10.15% |
| 2010-09-30 | $84.97M | 11.32% |
| 2010-06-30 | $76.33M | 9.36% |
| 2010-03-31 | $69.80M | -1.30% |
| 2009-12-31 | $70.71M | 7.36% |
| 2009-09-30 | $65.86M | 7.37% |
| 2009-06-30 | $61.34M | 13.20% |
| 2009-03-31 | $54.19M | -8.25% |
| 2008-12-31 | $59.07M | 8.55% |
| 2008-09-30 | $54.41M | - |
Fortinet generated $1.43B in revenue during Q2 2024, up 5.99% compared to the previous quarter, and up 113.63% compared to the same period a year ago.
Fortinet Revenue Breakdown
Fortinet Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 | Dec 20 | Dec 19 |
|---|---|---|---|---|---|
| Service | $3.38B | $2.64B | $2.09B | $1.68B | $1.37B |
| Technical Support and Other | $1.48B | $1.21B | $962.20M | - | - |
| Security Subscription | $1.90B | $1.43B | $1.13B | $750.90M | - |
| Product | $1.93B | $1.78B | $1.25B | $916.40M | $788.50M |
| Technical Support | - | - | - | - | $616.80M |
Fortinet's latest annual revenue breakdown by segment (product or service), as of Dec 23: Service (38.90%), Product (22.20%), Security Subscription (21.86%), and Technical Support and Other (17.04%).
Quarterly Revenue by Product
| Product/Service | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Service | $944.40M | $927.00M | $868.70M | $820.20M | $761.60M | $742.90M | $680.80M | $629.40M | $583.80M | $584.70M | $530.10M | $502.80M | $469.60M | $459.60M | $427.30M | $403.60M | $384.60M | $375.60M | $350.40M | $331.80M |
| Product | $408.90M | $488.10M | $465.90M | $472.60M | $500.70M | $540.10M | $468.70M | $400.70M | $371.00M | $378.90M | $337.10M | $298.30M | $240.70M | $288.40M | $223.80M | $211.90M | $192.30M | $238.80M | $197.10M | $189.90M |
| Technical Support and Other | $407.50M | $402.50M | $374.10M | $362.90M | $339.90M | $311.00M | $289.00M | $270.90M | $242.70M | $181.00M | $173.20M | $157.60M | $148.70M | - | - | - | - | - | - | - |
| Security Subscription | $536.90M | $524.50M | $494.60M | $457.30M | $421.70M | $403.90M | $369.80M | $340.40M | $312.90M | $309.40M | $287.40M | $222.60M | $211.40M | $205.40M | $192.80M | $183.10M | - | - | - | - |
Fortinet's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Service (41.10%), Security Subscription (23.37%), Product (17.80%), and Technical Support and Other (17.74%).
Fortinet Revenue Breakdown by Country
Annual Revenue by Country
| Country | Dec 23 | Dec 22 | Dec 21 | Dec 20 | Dec 19 |
|---|---|---|---|---|---|
| UNITED STATES | $1.61B | $1.32B | $1.01B | $813.30M | $693.30M |
| Americas | $2.18B | $1.78B | $1.36B | $1.08B | $917.30M |
| Asia Pacific and Japan | $1.06B | $940.60M | $707.50M | $525.30M | $425.00M |
| Europe, Middle East and Africa | $2.07B | $1.69B | $1.28B | $991.90M | $813.90M |
| Other Americas | $569.30M | $460.00M | $352.00M | $263.90M | $224.00M |
Fortinet's latest annual revenue breakdown by geography, as of Dec 23: Americas (29.08%), Europe, Middle East and Africa (27.71%), UNITED STATES (21.47%), Asia Pacific and Japan (14.13%), and Other Americas (7.61%).
Quarterly Revenue by Country
| Country | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Europe, Middle East and Africa | $539.40M | $575.60M | $512.20M | $506.90M | $478.20M | $510.10M | $443.90M | $391.80M | $346.00M | $370.80M | $323.20M | $306.20M | $275.70M | $298.40M | $243.30M | $228.40M | $220.70M | $244.00M | $200.70M | $192.00M |
| Americas | $964.10M | $985.40M | $545.60M | $537.00M | $523.50M | $521.20M | $467.60M | $413.60M | $382.60M | $380.80M | $350.10M | $337.00M | $290.90M | $301.20M | $272.40M | $260.20M | $242.20M | $250.60M | $240.70M | $225.50M |
| Asia Pacific and Japan | $256.90M | $270.40M | $276.80M | $248.90M | $260.60M | $251.70M | $238.00M | $224.70M | $226.20M | $212.00M | $193.90M | $157.90M | $143.70M | $148.40M | $135.40M | $126.90M | $114.00M | $119.80M | $106.10M | $104.20M |
| Other Americas | $149.90M | $152.80M | $144.80M | $132.30M | $139.40M | $139.00M | $123.50M | $100.70M | $96.80M | $96.60M | $91.70M | $85.30M | $78.40M | $77.00M | $66.40M | $59.60M | $60.60M | $63.20M | $58.60M | $52.00M |
| UNITED STATES | - | $416.30M | $400.80M | $404.70M | $384.10M | $382.20M | $344.10M | $312.90M | $285.80M | $284.20M | $258.40M | $251.70M | $212.50M | $224.20M | $206.00M | $200.60M | $181.60M | $187.40M | $182.10M | $173.50M |
Fortinet's latest quarterly revenue breakdown by geography, as of Mar 24: Americas (50.47%), Europe, Middle East and Africa (28.24%), Asia Pacific and Japan (13.45%), and Other Americas (7.85%).
Fortinet Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| ADBE | Adobe | $19.41B | $5.41B |
| PANW | Palo Alto Networks | $8.03B | $1.98B |
| FTNT | Fortinet | $5.30B | $1.43B |
| CRWD | CrowdStrike | $3.06B | $963.87M |
| PLTR | Palantir | $2.23B | $678.13M |
| ZS | Zscaler | $2.17B | $553.20M |
| MDB | MongoDB | $1.68B | $478.11M |
| PATH | UiPath | $1.31B | $316.25M |
| NET | Cloudflare | $1.30B | $401.00M |
| OKTA | Okta | $2.26M | $646.00K |
FTNT Revenue FAQ
What is Fortinet’s yearly revenue?
Fortinet's yearly revenue for 2023 was $5.3B, representing an increase of 20.09% compared to 2022. The company's yearly revenue for 2022 was $4.42B, representing an increase of 32.17% compared to 2021. FTNT's yearly revenue for 2021 was $3.34B, representing an increase of 28.82% compared to 2020.
What is Fortinet’s quarterly revenue?
Fortinet's quarterly revenue for Q2 2024 was $1.43B, a 5.99% increase from the previous quarter (Q1 2024), and a 10.95% increase year-over-year (Q2 2023). The company's quarterly revenue for Q1 2024 was $1.35B, a -4.37% decrease from the previous quarter (Q4 2023), and a 7.21% increase year-over-year (Q1 2023). FTNT's quarterly revenue for Q4 2023 was $1.42B, a 6.03% increase from the previous quarter (Q3 2023), and a 10.30% increase year-over-year (Q4 2022).
What is Fortinet’s revenue growth rate?
Fortinet's revenue growth rate for the last 3 years (2021-2023) was 58.72%, and for the last 5 years (2019-2023) was 146.03%.
What are Fortinet’s revenue streams?
Fortinet's revenue streams in c 23 are Service, Technical Support and Other, Security Subscription, and Product. Service generated $3.38B in revenue, accounting 38.90% of the company's total revenue, up 28.09% year-over-year. Technical Support and Other generated $1.48B in revenue, accounting 17.04% of the company's total revenue, up 22.27% year-over-year. Security Subscription generated $1.9B in revenue, accounting 21.86% of the company's total revenue, up 33.01% year-over-year. Product generated $1.93B in revenue, accounting 22.20% of the company's total revenue, up 8.24% year-over-year.
What is Fortinet’s main source of revenue?
For the fiscal year ending Dec 23, the largest source of revenue of Fortinet was Service. This segment made a revenue of $3.38B, representing 38.90% of the company's total revenue.