Income Statement

Revenue

+54%

+162%

10Y

Currency: USD

	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	6	10	15	18	18	18	18	19	19	20	21	21	21	21	20	20	19	21	0
Revenue	155 N/A	167 +7%	180 +8%	196 +9%	212 +8%	220 +4%	229 +4%	240 +5%	252 +5%	268 +6%	283 +6%	302 +7%	325 +8%	348 +7%	375 +8%	406 +8%	434 +7%	458 +6%	483 +6%	503 +4%	534 +6%	552 +3%	571 +3%	589 +3%	615 +4%	648 +5%	685 +6%	724 +6%	770 +6%	814 +6%	870 +7%	937 +8%	1 009 +8%	1 081 +7%	1 153 +7%	1 209 +5%	1 275 +5%	1 331 +4%	1 384 +4%	1 441 +4%	1 495 +4%	1 553 +4%	1 631 +5%	1 711 +5%	1 801 +5%	1 875 +4%	1 955 +4%	2 049 +5%	2 163 +6%	2 267 +5%	2 361 +4%	2 465 +4%	2 594 +5%	2 725 +5%	2 911 +7%	3 127 +7%	3 342 +7%	3 587 +7%	3 816 +6%	4 098 +7%	4 417 +8%	4 725 +7%	4 988 +6%	5 173 +4%	5 305 +3%	5 396 +2%	5 537 +3%	5 711 +3%	5 956 +4%	6 142 +3%	6 338 +3%	6 555 +3%	6 800 +4%
Gross Profit
Cost of Revenue	(57)	(61)	(64)	(66)	(65)	(65)	(65)	(67)	(70)	(75)	(78)	(82)	(85)	(89)	(96)	(105)	(114)	(121)	(132)	(138)	(147)	(156)	(162)	(168)	(181)	(192)	(206)	(219)	(231)	(244)	(256)	(270)	(287)	(301)	(316)	(329)	(338)	(351)	(362)	(371)	(385)	(392)	(409)	(427)	(450)	(466)	(481)	(494)	(506)	(522)	(528)	(544)	(570)	(598)	(650)	(722)	(783)	(880)	(944)	(1 016)	(1 085)	(1 139)	(1 184)	(1 219)	(1 237)	(1 234)	(1 203)	(1 140)	(1 121)	(1 127)	(1 178)	(1 255)	(1 329)
Gross Profit	99 N/A	106 +7%	116 +10%	131 +12%	146 +12%	155 +6%	164 +5%	174 +6%	182 +5%	193 +6%	205 +6%	220 +7%	239 +9%	259 +8%	279 +8%	301 +8%	320 +6%	336 +5%	352 +5%	365 +4%	386 +6%	397 +3%	409 +3%	421 +3%	435 +3%	456 +5%	479 +5%	504 +5%	539 +7%	570 +6%	614 +8%	666 +8%	722 +8%	780 +8%	837 +7%	880 +5%	938 +7%	981 +5%	1 022 +4%	1 070 +5%	1 110 +4%	1 161 +5%	1 222 +5%	1 284 +5%	1 351 +5%	1 409 +4%	1 474 +5%	1 555 +6%	1 657 +7%	1 746 +5%	1 833 +5%	1 921 +5%	2 024 +5%	2 127 +5%	2 261 +6%	2 405 +6%	2 559 +6%	2 707 +6%	2 872 +6%	3 082 +7%	3 333 +8%	3 586 +8%	3 804 +6%	3 954 +4%	4 068 +3%	4 162 +2%	4 335 +4%	4 571 +5%	4 835 +6%	5 015 +4%	5 160 +3%	5 300 +3%	5 471 +3%
Operating Income
Operating Expenses	(120)	(128)	(136)	(142)	(141)	(143)	(146)	(149)	(157)	(164)	(171)	(178)	(184)	(193)	(205)	(219)	(233)	(248)	(261)	(275)	(288)	(301)	(321)	(340)	(363)	(387)	(412)	(440)	(480)	(523)	(575)	(638)	(700)	(762)	(825)	(865)	(891)	(925)	(934)	(956)	(1 000)	(1 025)	(1 063)	(1 095)	(1 120)	(1 159)	(1 200)	(1 244)	(1 306)	(1 366)	(1 413)	(1 476)	(1 533)	(1 597)	(1 700)	(1 805)	(1 913)	(2 031)	(2 149)	(2 260)	(2 368)	(2 499)	(2 633)	(2 745)	(2 831)	(2 877)	(2 882)	(2 942)	(2 999)	(3 070)	(3 205)	(3 278)	(3 396)
Selling, General & Administrative	(93)	(98)	(103)	(106)	(104)	(105)	(107)	(109)	(115)	(120)	(125)	(130)	(134)	(141)	(150)	(159)	(169)	(179)	(188)	(198)	(207)	(217)	(231)	(245)	(260)	(279)	(299)	(323)	(357)	(393)	(438)	(490)	(542)	(595)	(650)	(684)	(708)	(735)	(738)	(755)	(789)	(806)	(834)	(862)	(875)	(905)	(940)	(973)	(1 029)	(1 077)	(1 109)	(1 152)	(1 191)	(1 239)	(1 317)	(1 404)	(1 489)	(1 579)	(1 679)	(1 764)	(1 855)	(1 960)	(2 065)	(2 155)	(2 217)	(2 242)	(2 234)	(2 264)	(2 283)	(2 328)	(2 419)	(2 476)	(2 581)
Research & Development	(28)	(30)	(33)	(36)	(37)	(38)	(39)	(40)	(42)	(44)	(46)	(48)	(50)	(52)	(56)	(60)	(64)	(69)	(73)	(77)	(81)	(85)	(90)	(95)	(103)	(108)	(113)	(118)	(123)	(130)	(137)	(148)	(158)	(167)	(175)	(180)	(183)	(190)	(195)	(201)	(211)	(219)	(229)	(234)	(245)	(254)	(260)	(271)	(277)	(289)	(304)	(324)	(341)	(358)	(383)	(401)	(424)	(452)	(470)	(496)	(512)	(539)	(568)	(590)	(614)	(636)	(648)	(678)	(717)	(742)	(787)	(802)	(816)
Operating Income	(22) N/A	(22) -4%	(20) +10%	(12) +42%	5 N/A	12 +140%	18 +50%	24 +36%	25 +5%	29 +14%	34 +17%	42 +25%	55 +31%	66 +19%	74 +13%	82 +10%	87 +7%	88 +1%	90 +2%	90 0%	99 +9%	95 -3%	88 -8%	81 -9%	72 -11%	70 -4%	67 -4%	64 -4%	59 -7%	47 -20%	39 -17%	28 -29%	22 -19%	18 -19%	12 -35%	15 +32%	47 +203%	56 +20%	88 +57%	114 +29%	110 -3%	137 +24%	159 +16%	188 +18%	231 +23%	249 +8%	274 +10%	311 +14%	351 +13%	380 +8%	420 +11%	446 +6%	492 +10%	530 +8%	561 +6%	600 +7%	646 +8%	675 +5%	723 +7%	822 +14%	965 +17%	1 087 +13%	1 171 +8%	1 209 +3%	1 237 +2%	1 284 +4%	1 453 +13%	1 630 +12%	1 836 +13%	1 945 +6%	1 955 +1%	2 023 +3%	2 074 +3%
Pre-Tax Income
Interest Income Expense	4	3	3	3	3	3	3	2	2	2	1	1	2	2	3	3	4	4	4	5	5	5	5	5	5	5	5	5	5	5	6	6	5	6	6	7	7	8	9	11	13	16	18	21	29	32	37	42	38	42	35	26	12	8	1	(5)	(19)	(13)	(12)	(9)	(5)	18	47	78	99	110	117	123	145	157	164	161	142
Non-Reccuring Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	2	2	2	2	2	2	2	2	0	0	0	0	0	0	0	(6)	(8)	(8)	(8)	(5)	(4)	(4)	(3)	(1)	(0)	0	0	0	0	0	0	(4)	(4)	29	30	35	36	5	5	5	5	5	5	5	5	5	5	5	5	5	(6)	91	74	97	108	11	10
Total Other Income	(2)	(3)	(2)	(0)	2	3	3	2	0	(1)	(0)	(1)	(1)	(1)	(1)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(1)	(1)	(2)	(3)	(2)	(3)	(3)	(4)	(3)	(3)	(4)	(4)	(4)	(7)	(5)	(3)	(2)	1	0	(6)	(5)	(9)	(7)	(2)	(5)	1	(7)	(6)	(4)	2	(2)	(2)	(7)	(3)	(19)	(29)	(23)	(9)	(2)	1	(5)	(6)	(11)	(7)	12	4	33	54	55	55
Pre-Tax Income	(20) N/A	(22) -8%	(19) +12%	(9) +50%	9 N/A	18 +89%	23 +31%	28 +23%	28 -3%	30 +8%	35 +17%	43 +24%	56 +31%	68 +20%	77 +14%	86 +12%	92 +7%	94 +2%	96 +3%	96 0%	105 +9%	102 -3%	95 -7%	87 -9%	76 -12%	73 -4%	70 -4%	67 -4%	62 -8%	49 -20%	41 -17%	24 -41%	17 -29%	12 -29%	5 -59%	13 +157%	43 +240%	55 +26%	91 +67%	122 +34%	124 +1%	153 +23%	171 +12%	204 +19%	251 +23%	275 +9%	309 +12%	344 +11%	386 +12%	443 +15%	479 +8%	502 +5%	542 +8%	541 0%	565 +4%	593 +5%	628 +6%	648 +3%	687 +6%	795 +16%	956 +20%	1 108 +16%	1 223 +10%	1 286 +5%	1 334 +4%	1 388 +4%	1 557 +12%	1 856 +19%	2 059 +11%	2 232 +8%	2 281 +2%	2 250 -1%	2 282 +1%
Net Income
Tax Provision	(2)	(2)	(2)	(2)	(2)	(2)	(2)	(4)	33	31	28	26	(15)	(17)	(19)	(24)	(30)	(31)	(34)	(34)	(38)	(37)	(35)	(33)	(32)	(32)	(32)	(36)	(36)	(31)	(28)	(7)	(9)	(4)	1	(8)	(11)	(14)	(26)	(37)	(29)	(27)	(20)	(20)	114	108	97	83	(56)	(68)	(64)	(44)	(53)	(52)	(50)	(35)	(14)	6	11	(25)	(31)	(60)	(85)	(58)	(144)	(162)	(211)	(292)	(284)	(341)	(342)	(381)	(439)
Income from Continuing Operations	(22)	(24)	(21)	(11)	7	15	21	24	60	61	63	69	41	51	58	62	62	63	63	62	67	65	60	54	44	40	38	31	25	19	13	17	8	9	6	4	32	41	65	86	94	125	152	184	365	382	405	427	330	375	414	458	489	489	515	557	614	654	698	769	925	1 048	1 138	1 229	1 190	1 226	1 346	1 563	1 775	1 892	1 940	1 869	1 843
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	0	0	0	1	1	1	1	0	0	0	0	0	0	0	0	0	0
Equity Earnings Affiliates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(3)	(8)	(16)	(24)	(28)	(68)	(82)	(79)	(78)	(42)	(27)	(33)	(33)	(29)	(12)	(0)	5	10
Net Income (Common)	(22) N/A	(24) -8%	(21) +12%	(11) +47%	0 N/A	10 +2 124%	9 -15%	10 +22%	51 +389%	57 +11%	66 +16%	74 +12%	41 -44%	51 +23%	58 +15%	62 +7%	62 +1%	63 +1%	63 -1%	62 -1%	67 +8%	65 -3%	60 -8%	54 -10%	44 -18%	40 -9%	38 -7%	31 -19%	25 -17%	19 -27%	13 -29%	17 +31%	8 -54%	9 +7%	6 -26%	4 -30%	32 +617%	41 +27%	65 +60%	86 +31%	31 -63%	62 +98%	89 +42%	121 +36%	332 +175%	349 +5%	373 +7%	394 +6%	332 -16%	377 +14%	416 +10%	460 +10%	489 +6%	489 +0%	515 +5%	555 +8%	607 +9%	638 +5%	674 +6%	743 +10%	857 +15%	967 +13%	1 059 +10%	1 151 +9%	1 148 0%	1 199 +4%	1 313 +9%	1 530 +17%	1 745 +14%	1 879 +8%	1 940 +3%	1 874 -3%	1 853 -1%
EPS (Diluted)	-0.11 N/A	-0.12 -9%	-0.1 +17%	-0.05 +50%	0 N/A	0.04 N/A	0.02 -50%	0.01 -50%	0.08 +700%	0.09 +12%	0.1 +11%	0.11 +10%	0.05 -55%	0.07 +40%	0.08 +14%	0.08 N/A	0.08 N/A	0.08 N/A	0.08 N/A	0.08 N/A	0.08 N/A	0.08 N/A	0.07 -12%	0.06 -14%	0.05 -17%	0.04 -20%	0.04 N/A	0.03 -25%	0.03 N/A	0.02 -33%	0.01 -50%	0.02 +100%	0.01 -50%	0.01 N/A	0.01 N/A	0.01 N/A	0.04 +300%	0.05 +25%	0.08 +60%	0.1 +25%	0.03 -70%	0.07 +133%	0.1 +43%	0.13 +30%	0.38 +192%	0.39 +3%	0.42 +8%	0.45 +7%	0.38 -16%	0.42 +11%	0.5 +19%	0.54 +8%	0.58 +7%	0.6 +3%	0.62 +3%	0.66 +6%	0.73 +11%	0.76 +4%	0.83 +9%	0.91 +10%	1.06 +16%	1.21 +14%	1.33 +10%	1.45 +9%	1.46 +1%	1.55 +6%	1.69 +9%	1.98 +17%	2.26 +14%	2.43 +8%	2.51 +3%	2.46 -2%	2.42 -2%

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Fortinet Inc
NASDAQ:FTNT

Income Statement

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Fortinet Inc

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Fortinet Inc

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Fortinet Inc NASDAQ:FTNT

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Fortinet Inc
NASDAQ:FTNT

Earnings Waterfall
Fortinet Inc

Income Statement
Fortinet Inc