Fortinet (FTNT) Cost of Revenue (2010 - 2026)
Fortinet (FTNT) posted quarterly Cost of Revenue of $404.7 million for Q2 2026, up 28.52% year-over-year from $314.9 million in Q2 2025, and up 11.03% quarter-over-quarter from $364.5 million in Q1 2026.
Analysis
Fortinet (FTNT) Cost of Revenue (2010 - 2026) Analysis & Trends
Fortinet's Cost of Revenue history runs 17 years deep, the most recent figure standing at $404.7 million for Q2 2026.
- In Q2 2026, Cost of Revenue rose 28.52% year-over-year to $404.7 million; the TTM figure through Jun 2026 stood at $1.5 billion (up 25.65% YoY), while the FY2025 annual figure was $1.3 billion, up 14.8% from the prior year.
- Cost of Revenue for Q2 2026 stood at $404.7 million, 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.
- The 5-year median for Cost of Revenue is $306.2 million (2023), against an average of $309.9 million.
- The sharpest annual moves came in 2022 and 2024: Cost of Revenue jumped 62.07% in 2022, then fell 17.09% in 2024.
- Fortinet's Cost of Revenue stood at $297.3 million in 2022, then gained by 6.26% to $315.9 million in 2023, then dropped by 0.44% to $314.5 million in 2024, then increased by 23.75% to $389.2 million in 2025, then increased by 3.98% to $404.7 million in 2026.
- Business Quant data shows FTNT's Cost of Revenue at $404.7 million in Q2 2026, $364.5 million in Q1 2026, and $389.2 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,718.51 Bn | 3,585.76 Bn | 60.48 Bn | 29.53 Bn |
| 2 | Oracle | 450.56 Bn | 418.67 Bn | - | - |
| 3 | Palantir Technologies | 417.98 Bn | 408.57 Bn | 1.64 Bn | 296.87 Mn |
| 4 | Palo Alto Networks | 266.32 Bn | 263.21 Bn | 2.03 Bn | 974.00 Mn |
| 5 | CrowdStrike Holdings | 216.54 Bn | 211.52 Bn | 1.10 Bn | 374.00 Mn |
| 6 | Fortinet | 114.47 Bn | 110.40 Bn | 1.64 Bn | 404.70 Mn |
| 7 | Cloudflare | 99.45 Bn | 95.28 Bn | 499.52 Mn | 196.54 Mn |
| 8 | Synopsys | 75.22 Bn | 71.61 Bn | 1.80 Bn | 679.39 Mn |
| 9 | Block | 49.73 Bn | 43.30 Bn | 3.17 Bn | 3.45 Bn |
| 10 | CoreWeave | 48.88 Bn | 43.34 Bn | 1.70 Bn | 879.00 Mn |
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 |