Fortinet (FTNT) Operating Expenses (2010 - 2026)
Fortinet (FTNT) posted Operating Expenses of $953.9 million for Q2 2026, up 5.39% on a QoQ basis from $905.1 million in Q1 2026, and up 11.29% year-over-year from $857.1 million in Q2 2025.
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Analysis
Fortinet (FTNT) Operating Expenses (2010 - 2026) Analysis & Trends
Fortinet has reported Operating Expenses for 17 years, with the latest figure at $953.9 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 11.29% year-over-year to $953.9 million in Q2 2026; TTM through Jun 2026 was $3.6 billion, a 12.52% increase from a year earlier, with the FY2025 full-year figure at $3.4 billion, up 13.06% from the prior year.
- Operating Expenses was $953.9 million for Q2 2026 at Fortinet, up from $905.1 million in the prior quarter.
- The five-year high for Operating Expenses was $953.9 million in Q2 2026, with the low at $550.0 million in Q1 2022.
- Average Operating Expenses over 5 years is $746.1 million, with a median of $724.8 million recorded in 2024.
- The sharpest annual moves came in 2022 and 2024: Operating Expenses grew 27.29% in 2022, then gained 0.57% in 2024.
- Over 5 years, Operating Expenses stood at $627.9 million in 2022, then rose by 13.68% to $713.8 million in 2023, then gained by 8.08% to $771.5 million in 2024, then advanced by 15.39% to $890.2 million in 2025, then rose by 7.16% to $953.9 million in 2026.
- The last three Operating Expenses figures came in at $953.9 million (Q2 2026), $905.1 million (Q1 2026), and $890.2 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | 2.13 Bn |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 1.13 Bn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 953.90 Mn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | 1.30 Bn |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | 875.89 Mn |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | 499.67 Mn |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | 541.37 Mn |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 534.00 Mn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 4.17 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 953.90 Mn |
| Mar 31, 2026 | 905.10 Mn |
| Dec 31, 2025 | 890.20 Mn |
| Sep 30, 2025 | 845.90 Mn |
| Jun 30, 2025 | 857.10 Mn |
| Mar 31, 2025 | 792.80 Mn |
| Dec 31, 2024 | 771.50 Mn |
| Sep 30, 2024 | 773.80 Mn |
| Jun 30, 2024 | 722.10 Mn |
| Mar 31, 2024 | 727.40 Mn |
| Dec 31, 2023 | 713.80 Mn |
| Sep 30, 2023 | 713.70 Mn |
| Jun 30, 2023 | 718.00 Mn |
| Mar 31, 2023 | 681.00 Mn |
| Dec 31, 2022 | 627.90 Mn |
| Sep 30, 2022 | 601.00 Mn |
| Jun 30, 2022 | 584.00 Mn |
| Mar 31, 2022 | 550.00 Mn |
| Dec 31, 2021 | 520.40 Mn |
| Sep 30, 2021 | 489.60 Mn |
API Access
Fortinet Operating Expenses 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=operating-expenses&ticker=FTNT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=FTNT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();