Fortinet Stock Tumbles On Q2 Earnings: Highlights From The Report

Fortinet Inc (NASDAQ:FTNT) reported second-quarter financial results after the market close on Wednesday. Here’s a look at the key details from the report.

Q2 Earnings: Fortinet reported second-quarter revenue of $1.63 billion, beating the consensus estimate of $1.62 billion. The cybersecurity company reported second-quarter adjusted earnings of 64 cents per share, beating analyst estimates of 59 cents per share, according to Benzinga Pro.

Total revenue was up 14% year-over-year. Product revenue came in at $508.9 million and service revenue totaled $1.12 billion. Second-quarter billings were up 15% to $1.78 billion.

Fortinet ended the quarter with approximately $3.37 billion in total cash and cash equivalents.

“We are the industry leader in network security, with the most deployed firewalls worldwide, a New-Generation SASE Firewall, and recognized leadership in the 2025 Gartner Magic Quadrant for SASE Platforms,” said Ken Xie, founder, chairman and CEO of Fortinet.

“This recognition, along with our strong business momentum, financial outlook, innovation, and leadership across five separate network security Magic Quadrant reports, underscores the strength of our AI-driven security approach and the strategic advantage of our unified FortiOS operating system.”

Outlook: Fortinet expects third-quarter revenue to be in the range of $1.67 billion to $1.73 billion versus estimates of $1.71 billion. The company has third-quarter adjusted earnings of 62 cents to 64 cents per share, versus estimates of 61 cents per share.

Fortinet now expects full-year 2025 revenue of approximately $6.68 billion to $6.83 billion, versus estimates of $6.76 billion. The company also raised its full-year 2025 earnings guidance. Fortinet expects full-year earnings of $2.47 to $2.53 per share, up from prior estimates of $2.43 to $2.49 per share. Analysts are forecasting full-year earnings of $2.48 per share.

FTNT Price Action: Fortinet shares were down 17.59% in after-hours at $79.59 at the time of publication on Wednesday, according to Benzinga Pro.

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