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.
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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 29.53 Bn |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | - |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 296.87 Mn |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 974.00 Mn |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 404.70 Mn |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 196.54 Mn |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 637.38 Mn |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | 879.00 Mn |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 3.45 Bn |
| 10 | NetApp | 40.59 Bn | 37.00 Bn | 1.37 Bn | 583.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 404.70 Mn |
| Jun 30, 2026 | 404.70 Mn |
| Mar 31, 2026 | 364.50 Mn |
| Mar 31, 2026 | 364.50 Mn |
| Dec 31, 2025 | 389.20 Mn |
| Dec 31, 2025 | 389.20 Mn |
| Sep 30, 2025 | 331.70 Mn |
| Sep 30, 2025 | 331.70 Mn |
| Jun 30, 2025 | 314.90 Mn |
| Jun 30, 2025 | 314.90 Mn |
| Mar 31, 2025 | 293.10 Mn |
| Mar 31, 2025 | 293.10 Mn |
| Dec 31, 2024 | 314.50 Mn |
| Dec 31, 2024 | 314.50 Mn |
| Sep 30, 2024 | 263.40 Mn |
| Sep 30, 2024 | 263.40 Mn |
| Jun 30, 2024 | 275.00 Mn |
| Jun 30, 2024 | 275.00 Mn |
| Mar 31, 2024 | 304.70 Mn |
| Mar 31, 2024 | 304.70 Mn |