Fortinet (FTNT) Cost of Revenue (2010 - 2026)
Fortinet (FTNT) posted Cost of Revenue of $404.7 million for Q2 2026, up 11.03% on a QoQ basis from $364.5 million in Q1 2026, and up 28.52% year-over-year from $314.9 million in Q2 2025.
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Analysis
Fortinet (FTNT) Cost of Revenue (2010 - 2026) Analysis & Trends
Fortinet has reported Cost of Revenue for 17 years, with the latest figure at $404.7 million in Q2 2026.
- On a quarterly basis, Cost of Revenue rose 28.52% year-over-year to $404.7 million in Q2 2026; TTM through Jun 2026 was $1.5 billion, a 25.65% increase from a year earlier, with the FY2025 full-year figure at $1.3 billion, up 14.8% from the prior year.
- Cost of Revenue was $404.7 million for Q2 2026 at Fortinet, up from $364.5 million in the prior quarter.
- The five-year high for Cost of Revenue was $404.7 million in Q2 2026, with the low at $250.8 million in Q2 2022.
- Average Cost of Revenue over 5 years is $309.9 million, with a median of $306.2 million recorded in 2023.
- The sharpest annual moves came in 2022 and 2024: Cost of Revenue soared 62.07% in 2022, then decreased 17.09% in 2024.
- Over 5 years, Cost of Revenue stood at $297.3 million in 2022, then climbed by 6.26% to $315.9 million in 2023, then fell by 0.44% to $314.5 million in 2024, then gained by 23.75% to $389.2 million in 2025, then gained by 3.98% to $404.7 million in 2026.
- The last three Cost of Revenue figures came in at $404.7 million (Q2 2026), $364.5 million (Q1 2026), and $389.2 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | 1.11 Bn |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 374.00 Mn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 404.70 Mn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | 510.08 Mn |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | 240.11 Mn |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | 357.94 Mn |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | 202.01 Mn |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 164.00 Mn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 2.82 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 404.70 Mn |
| Mar 31, 2026 | 364.50 Mn |
| Dec 31, 2025 | 389.20 Mn |
| Sep 30, 2025 | 331.70 Mn |
| Jun 30, 2025 | 314.90 Mn |
| Mar 31, 2025 | 293.10 Mn |
| Dec 31, 2024 | 314.50 Mn |
| Sep 30, 2024 | 263.40 Mn |
| Jun 30, 2024 | 275.00 Mn |
| Mar 31, 2024 | 304.70 Mn |
| Dec 31, 2023 | 315.90 Mn |
| Sep 30, 2023 | 317.70 Mn |
| Jun 30, 2023 | 295.80 Mn |
| Mar 31, 2023 | 307.80 Mn |
| Dec 31, 2022 | 297.30 Mn |
| Sep 30, 2022 | 283.00 Mn |
| Jun 30, 2022 | 250.80 Mn |
| Mar 31, 2022 | 253.80 Mn |
| Dec 31, 2021 | 228.30 Mn |
| Sep 30, 2021 | 211.20 Mn |
API Access
Fortinet Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "FTNT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();