Fortinet (FTNT) Revenue & Revenue Breakdown

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Fortinet Revenue Highlights

Latest Revenue (Y)

$5.30B

Latest Revenue (Q)

$1.51B

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
2024-09-30	$1.51B	5.15%
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 $1.51B in revenue during Q3 2024, up 5.15% compared to the previous quarter, and up 116.65% 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
Technical Support and Other	$1.48B	$1.21B	$962.20M	-	-
Product	$1.93B	$1.78B	$1.25B	$916.40M	$788.50M
Security Subscription	$1.90B	$1.43B	$1.13B	$750.90M	-
Service	$3.38B	$2.64B	$2.09B	$1.68B	$1.37B
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	Sep 24	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
Technical Support and Other	$438.40M	$407.50M	$402.50M	$374.10M	$362.90M	$339.90M	$311.00M	$289.00M	$270.90M	$242.70M	$181.00M	$173.20M	$157.60M	-	-	-	-	-	-	-
Security Subscription	$595.80M	$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	-	-	-	-
Product	$473.90M	$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
Service	$1.03B	$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

Fortinet's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Service (40.68%), Security Subscription (23.44%), Product (18.64%), and Technical Support and Other (17.24%).

Fortinet Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
Americas	$2.18B	$1.78B	$1.36B	$1.08B	$917.30M
UNITED STATES	$1.61B	$1.32B	$1.01B	$813.30M	$693.30M
Other Americas	$569.30M	$460.00M	$352.00M	$263.90M	$224.00M
Europe, Middle East and Africa	$2.07B	$1.69B	$1.28B	$991.90M	$813.90M
Asia Pacific and Japan	$1.06B	$940.60M	$707.50M	$525.30M	$425.00M

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	Sep 24	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
Other Americas	$168.90M	$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
Americas	$1.08B	$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
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
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
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

Fortinet's latest quarterly revenue breakdown by geography, as of Sep 24: Americas (86.47%), and Other Americas (13.53%).

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	$2.14B
FTNT	Fortinet	$5.30B	$1.51B
CRWD	CrowdStrike	$3.06B	$1.01B
PLTR	Palantir	$2.23B	$725.52M
ZS	Zscaler	$2.17B	$627.96M
MDB	MongoDB	$1.68B	$529.38M
PATH	UiPath	$1.31B	$316.25M
NET	Cloudflare	$1.30B	$430.08M
OKTA	Okta	$2.26M	$665.00M

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 Q3 2024 was $1.51B, a 5.15% increase from the previous quarter (Q2 2024), and a 13.00% increase year-over-year (Q3 2023). The company'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). FTNT'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).

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 Technical Support and Other, Product, Security Subscription, and Service. Technical Support and Other generated $1.48B in revenue, accounting 17.04% of the company's total revenue, up 22.27% year-over-year. Product generated $1.93B in revenue, accounting 22.20% of the company's total revenue, up 8.24% 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. Service generated $3.38B in revenue, accounting 38.90% of the company's total revenue, up 28.09% 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.